Professional gambler & equities

[fmhealth]

Interesting situation for an apparently young & successful gambler.

http://www.bogleheads.org/forum/viewtopic.php?f=1&t=147266&newpost=2197738

[Hoofless_Wonder]

Wow! A 27 year old "professional gambler" who's smart enough to have a net worth of 600K British Pounds using the Vanguard investment calculator to determine how much of that should be put into bonds.

Apparently he's not very savvy about the bond market, the stock market, or how crooks in "The City" and on Wall Street make the most sosphisticated swindlers at the track seem like pikers.

He needs to watch the interview of Billy Walters on 60 minutes to help him figure out where NOT to put his money...... :)

[Ocala Mike]

Would say that worrying about "past-posting" pales in comparison to the insider trading shenanigans prevalent on "the Street" and in "the City."

[Fingal]

Apparently he's not very savvy about the bond market, the stock market, or how crooks in "The City" and on Wall Street make the most sophisticated swindlers at the track seem like pikers.



There's a reason Wall Street is called the biggest casino in the world because don't let anyone fool you, it's gambling just with a different vehicle to use for betting. And like a casino, the house always wins.

A wise person once told me "once you've made the money you don't have to gamble any more." And if that kid is that successful as a bettor, he can tell any investment advisors to go pound sand.

If a good return in a conservative stock over a year is 15-20% on average in good times, think about it. That's a show bet that pays $2.40. In the stock market that's over a year of up, down & sideways ?

Oh to be young and naive..........
:rolleyes:

[Valuist]

There's a reason Wall Street is called the biggest casino in the world because don't let anyone fool you, it's gambling just with a different vehicle to use for betting. And like a casino, the house always wins.

A wise person once told me "once you've made the money you don't have to gamble any more." And if that kid is that successful as a bettor, he can tell any investment advisors to go pound sand.

If a good return in a conservative stock over a year is 15-20% on average in good times, think about it. That's a show bet that pays $2.40. In the stock market that's over a year of up, down & sideways ?

Oh to be young and naive..........
:rolleyes:

20% ROI is pretty damned good. How many horse and/or sports bettors make that? Maybe a few horse bettors that hit a big pic 6 or two during a year. Sports bettors? None. If 58% can be considered a realistic ceiling (we are talking with 1000 wagers or more), that pencils out at an 11% ROI. The only advantage sports and horse bettors have is they can churn out huge handles while a market player is limited.