Re: Is poker gambling?
[ QUOTE ]
The difference between poker and the stock market is that poker is a game of incomplete information, and picking stocks is (in an ethical business environment) analysis with complete information.
There is an element of luck in investing (9/11 happens) but that is "external" to the picking of individual assets, balancing portfolios etc. The element of luck is intrinsic to poker.
Poker is gambling, investing isnt (again in perfect, ethical capital markets).
[/ QUOTE ]
Picking stocks even in a perfectly ethical environment (which we don't have by the way), but even if it was, we still don't have complete information. If we had complete information then everybody would have stock market returns like Warren Buffet.
|