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Investing is similar to gambling?

by Market Uncle on September 21, 2010

Photo by conorwithonen

Photo by conorwithonen

Motivation

I read with interest an article published on Asiaone “Casino not so different to stock investment”:

In the article, Kwon Oh-nam, CEO of Grand Korea Leisure, South Korea’s leading foreigner-only casino was quoted as saying:

“… Some people get so obsessed with stock investment that they sit in front of the computer monitor to check Dow Jones all night long. Even if they do, some lose big money, but such cases are not criticized as much as gambling…”.

src: http://news.asiaone.com/News/Latest%2BNews/Asia/Story/A1Story20100916-237501.html

This is something I totally disagree. Hey, that’s not investing, that’s stock speculation! And yes, to all things in life, there are plenty of opportunities to speculate, not just in stocks and casino, but in properties, commodities, currencies etc.

Stock investing vs Gambling

I’ve been to a casino once only, the one in Genting Highlands with my wife. We changed RM$50, yes one single $50 note, to chips and played at the “big-small” game table. Our chips are too few to warrant a seat, so we just stand around. We played till we are left with with $10 chips and en-cashed them back to cash, to ‘complete’ the ‘process’ of ‘gaming’ experience at Genting. I’d say the experience is thrilling and fun… at one point we almost doubled that $50 we started with and that occurred in less than 30 minutes of play. Such quick and solid returns can only occur in a gambling environment. Read more…


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