Wednesday, January 19, 2011

Gambling or Investing?

Here is another article related to the 60 Minutes segment on Billy Walters this past Sunday - that I mentioned here. I have interests in investing -- and love the analogies between investing and the sports betting world. I believe that similar approaches (academic, professional, and analytical methods) can yield positive results. Please check out this excerpt from the Pragmatic Capitalist; the entire link is below.

As a society we have been conditioned to believe that there is a difference between gambling and investing. Of course, this partially true, however, the degree to which we “invest” and “gamble” is smaller than most are likely comfortable admitting. The majority of us have been conditioned to believe that buying a share of Bank of America is vastly different from placing a bet at a roulette table. A closer inspection of “investing” and “gambling” shows that the two are closer than the Wall Street sales machine would like you to believe.