View Single Post
Unread 12-19-2011, 01:27 PM   #126 (permalink)
kalboy
Registered User
 
Join Date: Mar 2003
Location: Silicon Valley, CA
Posts: 248
Send a message via AIM to kalboy
Talking

Quote:
Originally Posted by TheWriteAlex View Post
Right, it's not gambling when you end up making a shit ton of money in a few hours, but it's gambling when you lose it? When you make money, some other poor schmuck loses theirs. That's the way it works. But of course you don't think of it like that. No stock investor considers the consequences of his success. That is precisely what is wrong with the system and with capitalism in general.

Just because you're successful at it doesn't mean it is any more legitimate than going into a casino and earning a 1000$ on a lucky pull at the slots. The difference is, money earned in the stock market is blood money.

I'm not quite sure if I understand your point, but I'll play.

1. I never said that making sound, well managed investment is a gamble. When you invest in something, you are essentially putting your money/time on something that you believe will worth more than what is worth today (lets not talk about options and securities ).

2. It is not true that when you make money in the stock market, someone else lose their's. Investment is not a zero sum game.

3. You seem to believe that investing in stock market is illegitimate, but I think what you really mean is that there are unethical activities involving investing which I briefly mentioned in my original post. Enron, Countrywide, Leman Brothers, AIG etc all used sophisticated accounting techniques to inflate their value/mislead investors which are highly unethical and their CEOs/CFOs deserve to rot in hell.

Having that said, I still believe that someone with discipline and knowledge will benefit greatly by investing in the financial market than betting their retirement on slot machines.
kalboy is offline   Reply With Quote