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Obiviously, you havent invested abroad. The US securities industry is very
ethical / monitored. In many countries China, Korea, India, South America.,
Russia ..etc the safety of your principal is never guaranteed. Someplaces ,
it is even OK to do insider trading/front running.
The dot.com's are now what the cars were in the 1940's or the transistors in
the 1960's..
> So, the flip side of the same thing - stock market is just many
> roulette tables (stocks, futures, etc.) in a big casino (namely,
> the financial industry) with hidden switches under each table
> (e.g. insider news).
>
All the guys, Buffet, Price, Lynch , Dreman, Zweig etc. were common working
class people. They were all born of middle class working families.
> Key thing to stock market is to treat it like crapshoot, or,
> lottery ... gamble (oops, they beautify the terms to "invest")
> the money you can afford to LOSE THEM ALL, which
> immediately implies the ones with biggest chance to win
> are the ones who are richest right from the beginning!
>
I agree, there are many variations of gambling theory, which can help.
Incidentally, it is taboo to mention this openly, but many successfull people
employ variations of kelly, martingale etc.
> So, go study statistics, learn about gambling theory,
> then you are better equipped to "bet" in the market :)
Mike
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