Quote:
Originally Posted by PaceAdvantage
It's all gambling. Some bets (investments) are sounder (ie. LESS RISKY) than others, but it's all gambling, because there are no guaranteed returns. There are close to guaranteed returns, like a savings account, but you see what those are paying these days. Hardly worth it.
PLENTY of people have lost EVERYTHING investing...there have been TONS of S&P pit traders (when that existed) who have lost it all. There have been TONS of day traders that have lost it all.
There have been people who "invested" in places like Enron who have lost it all...even pension funds and the like, who were supposedly "safe."
MONEY IS AT RISK in all of these situations...that's gambling.
If there were no risk, there would be no return.
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A year after I bought my Chicago-area home...I lost the entire 25% down payment that I had submitted, because of the subsequent explosion of the "housing bubble". I kept thinking about how much more fun it would have been to blow that money in Las Vegas.
