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To: Art Bechhoefer who wrote (109)6/11/2014 4:34:11 PM
From: FJB  Read Replies (1) | Respond to of 211
 
RE:There's a difference between gambling and investing.

That is an interesting statement. The response is so very complex. I would argue that gambling is actually more legitimate than investing. A wise gambler will know exactly the odds of his bet, whereas the variables in investing are beyond any model. Investing could actually have more risk in some situations. The number of variables in investing makes it a riskier bet in my opinion.

Only "gamble" when you know everything there is to know about your gamble. Information and probabilities are the key to it all. There are logical proofs that could be created for this. People would probably differ on the predicates involved in the proof though.



To: Art Bechhoefer who wrote (109)6/12/2014 6:07:38 PM
From: Dwayne Hines  Read Replies (1) | Respond to of 211
 
Art, I think there is a third level - Gambling, Speculating, and Investing. With gambling you are totally at the mercy of the roll of the dice. With speculating, you have the company itself working hard to turn that dice into a favorable outcome. Big difference.


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