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This thread is a testament to why people occasionally need a lawyer. Under the Federal Securities and Exchange Act of 1934, Section 9(a)(2), It shall be unlawful for any person, directly or indirectly, by the use of the mails or any means or instrumentality of interstate commerce, or of any...

Yeah, he's a regular Don Quixote.

"...you are so mercifully free of the ravages of intelligence." -- David Warner, Time Bandits (1981)

I think that the dealer will say, "All right then, sit yourself down and have a drink on the house." And, then a few hours later, the dealer will say, "I know! I am running hot tonight. I'm hard to beat." And, then a few hours later, when you walk away broke, the dealer will say, "Thank...

Kenny Uston was another great blackjack player -- see Uston, Million Dollar Blackjack, Carol Pub Group (1987). Before playing blackjack, Kenny was V.P. of the Pacific Stock Exchange, and he was a trader. But, in the casinos, he counted cards -- methodically, and without regards to any streak...

There's nothing whatsoever new in what you have just described. The technique is called "Wonging it," and is named for probably the greatest all around blackjack player ever: Stanford Wong. Basically, you count the cards from behind the table until the shoe gets extremely positive with tens and...

I misunderstood -- until now. You believe in magic. The cards however, do not share in your belief system. Las Vegas is literally built on the corpses of people exactly like you. The casinos are positively drooling in anticipation of your arrival.

I admire your persistence, however, you're wasting your time. The only way to win at blackjack in the long run is to count cards -- it has been scientifically confirmed via elaborate and comprehensive mathematical proof. See Griffin, The Theory of Blackjack, Huntington Press (1999).

I dunno, but I'll take the compliment, regardless. :)

Reluctantly, I will admit to having played blackjack professionally in my youth. This means that I played tens of thousands of hands against real dealers in real casinos using real money. Unlike the stock market, blackjack is a completely closed system, which has a very large number of, but...

And, doesn't that mean, that for every dollar bet, in the long run, your win/loss will more closely approximate expected value? So, while you may have a higher variance in outcomes on the first spin, that variance cuts both ways, you could win 35 chips, or lose 1. Odds are, at the end of 36...

Easy. Buy four shares of stock for every one share that you intend to trade, and then just hold the other three shares as inventory. You will never be liquidated and you will never pay a penny in margin interest. And, if you think what I've just suggested is silly and risky, then consider the...

The casino's edge at roulette will increase the longer you play? You mean, like, that little white ball knows how many time it's been used against any and all players who've come to the table? That's a pretty impressive piece of carved bone. I think that the casino's "edge" on the first spin...

If Joe Schmo generated $50K in net losses trading for the year, and he is married, I suggest that he contact a good family law attorney, because he's about to get divorced -- he just doesn't know it, yet.

You keep trying to end the thread after you get the last word in. Simultaneously, you seem bent upon demonstrating the absurdity of my comments. So, I will defend my position again. 1. You state that full disclosure would not have prevented kizzy from trading, as if you know it for a fact...

Exactly. Kizzy shouldn't be permitted to trade, because he is actually likely to break his leg, and the brokerage knows this. If you put 100 horses on a race track and run them, it is more likely than not that all of them will reach the finish line without a serious injury. If you put 100...

I don't know how you drew the above question from my racetrack hypothetical, but it's not even close to what I was trying to demonstrate. My direct answer to your question here is "yes," one could make the argument as you suggest. However, in my original scenario, the track is dry, the weather...

Gilbert can be charged with rape if he forced Sexy to have sex. Etrade can be charged with fraudulent misrepresentation if it induced kizzy to trade at margin levels that were in violation of SEC regs, after making representations to kizzy that such margin levels were permissible. Kizzy's first...

Full disclosure to potential traders would be to show the performance statistics of those retail traders who actually trade with the brokerage, so that there is no illusion as to what kind of performance can be expected. Investment firms portray themselves as places of financial enlightenment...

You realize that I get paid to find argumentative defects and exploit them, so, in that spirit, I can distinguish very quickly between the pro se litigant and the deep discount trader. Etrade is not even close to the deepest discount available to a trader, and in fact, in the trading...