Eric Kam
👤 SpeakerAppearances Over Time
Podcast Appearances
But if they don't respect it...
That's good for you.
Congratulations.
This is another simple one.
First of all, investing is a gamble.
There is no difference when you invest...
Because there is one guaranteed investment.
Go put your money in the bank and earn almost nothing.
That's a guaranteed investment.
Short of that, everything is whatever word you want to use for gamble, risk, uncertainty, and whatever.
Now, let's just move this party to Las Vegas.
And if they were standing in a casino and one of them turned to the other and said, what do I do on this blackjack hand?
And the other one said...
Take a card.
And they took a card and they lost.
You don't get to turn around and go, well, that was terrible advice.
You owe me.
You know what?
This is why we economists sometimes call gambling a tax on the stupid.
It is a probability.