Re: Weather Channel Founder says\"Global Warming is Biggest Scam in His
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No, it's not a standard poker situation at all. The problem is that without very strong regulatory/oversight institutions (governmental or otherwise, institutions that have power and use force), ripping people off is very +EV short term. The only way one could consider it -EV in the long run has nothing to do with variance and more to do with the fact that people would eventually catch on.
The poker equivalent would be playing extremely nitty, which is very +EV until people catch on and actually exploit you, by which time they may already be cleaned out.
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I agree that it is a very important and neccesarry function of Government to protect our property and our rights. Without this protection we would look a lot more like Russian capitalism!
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