Quote from cygnetnoir:
In your opinion, how does trading compare to blackjack, poker, and sports betting? Do you allow odds and probability to factor into those games?
For PVT type position trading of stocks, all three make more money given a common starting point. I checked with a Damon Runyun type re horses in the '55's by competing he made twice as much a I did. For poker. a great player beats other good players and wins more than PVT trading. In black jack in the old days, I did better in black jack that in PVT.
Then the PC and printing arrived. So the velocity of trading has changed. As new instruments arrived and that changed things. Finally, leverage is possible and the taxes favorable. So trading became King. The SEC didn't get it.
So today using an ATS to take the full market's offer is better than the gambling subset you mention.
A good parallel might be for trading miight be the transporation of each successive era. Gambling in games is only one demension (the player). trading has the ability to be better by skifting skills and knowledge. There was the horse, then the car, now we have boats and trains that go places, EVen for some distances planes and rockets are better.
My great aunt traded during the horse days and then she got a car and still traded better, she took her friends to winter off Spain in the Medertrainian. She gave us her matching LV trunks and suit cases.. She was neat and used her capital wisely in a man's world and never had to have a job. She would not sell her art and her maids and driver did like working for her. Especially her gargae man, she made the dents and he painted the whole car. She was a great shooter as well as artist. She kept our hunt club rolling with parties and shoots on the lake it owned. Our families made a golf club by jioning our properties and shaping the holes. etc.. People kept the whole club really in super shape. Robert Trend Jones came up and set the club record with teapucha balls. Great club pics of the rounds played. We had a tournament from year one and I remember the 50 and 75th annaveraries
She believed in dividends from the great companies that made america. She got them and reinvested over and over. I was 40 the day she died at 94. She just gave it all away to here cousins and nephews since she had no marrige or kids. She did finsihing school in Vevy and came home on the last steamer to cross before the first world war. Upper New York State mansion and always a place at the NYC Womens Republican club. Her dad was a minister (EPIS) so it was easy going. My son now owns the sunner home she used in up state NY.
I liked to watch her roll out the ledgers and see how she was going forward. Desk and fireplace and pads to jot on..
She got through WWI at home. Then she ran the house and took care of her mother, Dividends did it all. but she did look for growing companies whose price was connected "to that the contry needs more of". Steel she liked because it when way up in NYC, Cars were made of steel. Stell came out of the ground, Coal was perfrect to her. Utilies always made more electricity.
And the dog badiy, mrs Dodge. Boy did they think alike. ESSO.
Get the dividend checks and get cuopons clipped.. Do deposits Pay for living and sink the rest into new things people needed.
She never missed the NY shows. or the great social get togethers. THE NYSR was her phone book. She liked the country and sports and could close the house after Xmas and go south to NYC see plays, etc and then go on vacation in the islands or spain, Swim, bridge and do art. Drive cars and ride horses.
Money makes money. NY families really make money because they owned all the land before the buildings were built. Now placques on buildings show who owns the leased land to building was built upon. We looked at the plats on cristmas and lawyers explained how it was going. It was alsways going. We started at Wall street and went north up the west side and the terrace has the same name as the current family fund. The mayor lives om this street. All the plats are leased to the builders for 99 year intervals. Two have gome by so far.
That is just one farm. Other towns other things. The Livingston part of the family spread out into NJ and well as NY. Then the families added as they when up the hudson and across NY state.
Owning lets people fit into the growing places. leasing and doing dividends and coupons keeps you with the pulse of industry and commerce. Your investment earns for you without going to work.
My aunt was neet and she had many women like here who formed an informal alliance to take care of their interests. They studied and were like "insider traders" who knew the "city" amd "wealthy" gossip.
This group settled in upper new york state and bred and trained race horses and played tennis on grass. Saratoga was just down the road. Coopoerstown was where they let baseball players come once a year. In between, the stanley steamers were raging from party to party. I rebuilt one in the 50's and on wooden spokes I was shooting down roads between corn stalks at 60 as silent as ever. But we did give rides and fill up the water tank every so often, Kerosene was the boiler fuel and the safety valve could pop at 800 pounds. The back seats were always warm and the horns much too lowd. If you wheeled around a turn really tight and fast the tire woulf bend off the wheel and go shooting ahead of you when you came out of the turn,. Horses coul always pull a steamer out of a bad turn into a ditch. AND a steamer could always pull a team of horses up a hill when deep snow filled the roads. The steamers got throught first and eveyone pulled together. We did one horse sleighs for evening visits and there were always races for some reason. Women liked their horse to win and so did the horse. Barns for cars. Barns for horses and slieghs and work berms. Two of our had radial airplanes engines to dry bails further. Not everyone like a four engine plane fliying out in the back yard.
dividends and coupons mat the country homes go in upper New York state. Farms kept everyone who wanted to work employed. And everyone was leaving to go build buiding in the cities.where we were leasing the farm under those buildings.
What made america great was the owners of america. Then betting got started in recreation and business. anyone can be on stocks and bonds and options. They are there because long ago someone put their profits in to building the corporations.
Thank god the computer does al the work these day to be able to beat the black jack, poker and sports betting. The markets just gre everywhere the buil;ding grew om land. If you leased for 99 years it turned great and this still is when renewals come up.
