Re: Is poker gambling?
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A key difference between stocks and poker is that poker is zero sum.
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Precisely. And in addition, due to the stock market not being a zero sum game (at least in nominal values) many investors "play" the stock market as a single (or a few) long term investment(s), where they are only looking for long term profits. This is like playing poker against opponents who are slightly worse than you, and only playing until you have won say 10 % of your bankroll. With a well diversified portfolio it might take longer to achieve the 10 % on the stock market than in poker, but on the other hand you are not forced to sit down at a game all the time. In fact, the slower pace of the stock market (for a long term investor) should make it easier for an investor (only looking for a nominal profit) to make and maintain his investment.
Of course in theory the stock market itself is also very close to a zero sum game, if we consider lost profits being equal to actual losses. This is, however, not how most private investors look at it.
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