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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (117119)	11/29/2008 3:56:47 PM
From: hdl	Read Replies (1) \| Respond to of 132070

i am very smart; i have worked very hard; i have been frugal.i have read much re stocks. so, instead of going to casinos where the house has an edge or playing poker - where someone may have more skill or cheat, i have invested about 100% and sometimes up to 115% of my assets in stocks - which i have read go up about 10%/year over the long term. i used to buy tax frees when they paid double digit interest, but figured, even now i could live another 30 years. so, i'd rather make 10%/year compounded, than less in bonds. so, i saved and invested a fortune. i lost a lot in the dotcom bust. i built it back up to my old fortune and more and now have lost half of that. if i were playing in a casino, i am probably the rare person who could set a max of what i was prepared to lose and lose less than 150% of that. and i would set a number of total cumulative losses of less than 1% of what i have lost in the stock market. i wouldn't bet with odds against me to get even.

To: Knighty Tin who wrote (117119)	11/30/2008 8:35:38 PM
From: Celtictrader	1 Recommendation Respond to of 132070

How Online Gamblers Unmasked Cheaters CBS) In the wild, wild west, when a poker player was caught cheating it was a capital offense, with the punishment quickly dispensed right across the card table. But today if you're caught cheating in the popular and lucrative world of Internet poker, you may get away scot-free. At least that seems to be what is happening in the biggest scandal in the history of online gambling. A small group of people managed to cheat players out of more than $20 million. And it would have gone undetected if it hadn't been for the players themselves, who used the Internet to root out the corruption. As a joint investigation by 60 Minutes and The Washington Post reveals, it raises new questions about the integrity and security of the shadowy and highly profitable industry that operates outside U.S. law. Rest of story here: cbsnews.com ...