Reply #5: gambling [View All]

Is what future speculation IS. Gambling with our lives using "the market". It's all a game for the super rich.The "market" is a huge pyramid of gambling.


If you really believe that finance is not gambling, you do stupid things. You design insurance products that people don't want to buy, and you misprice them. You don't understand why stocks are so volatile, and you mismanage portfolios. You miss the point of commodity, currency, and fixed income markets..

The reason for using the word 'speculation' (or 'betting on an idea') is that when individuals carry out the act they do not have enough evidence available to prove whether they are right or wrong. This situation is in contrast to the gambling situation. The latter refers to situations that have been and can be repeated many times, and where the probabilities as well as the monetary gains and losses are the same for everybody and well known.

http://riskmarkets.blogspot.com/2006/06/poker-face-of-wall-street.html

Question is... Do you like the idea some rich fuck wad who has too much money and a slipshod character and too much time on his hands speculating about shit that doesn't exist and hasn't happened and betting your financial future on it? A rich fuck wad who has no clue you even exist ,but yet he can with a mouse click BET your life away for you? He might like the risks and stakes because it is barely impacting his fat wallet , but could YOU endure it if he loses the bet on the wrong prediction?? Most likely NOT.