Re: Is poker gambling?
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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).
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It sounds like you're making both points. I agree with the 50% of what you said that said poker is the same as the stock market.
Picking stocks is also about incomplete information. If you knew what the weather would be like a week from today, I'm sure you could make much more intelligent stock picks today. Same with 9/11. Same with a CEO resigning. Same with a product scandal in the news. However, seasoned investors and market managers always seem to make more $ picking stocks than those people that pick stocks "at random" (how a lot of people actually "invest").
The element of luck is only intrinsic in the short term. This goes for poker as well as the stock market. Much like your success picking one stock to buy for one day (then sell) would also involve a ton of luck.
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