Forum Archive Index - January 2000

[Phil Eriksen <phil@acepay.co.nz>]

Roy LT wrote:
> 
> It seems to me the only difference between gambling on horse races and some
> of the stocks discussed in this forum is that when you lose on horses you
> lose the lot!
> 
> Some of the predictions for ITC prices paraded here are in the same realms
> as bookies bets, except I would rely on bookies bets as being more accurate :)

Well, no, keep in mind one can keep a "diversified portfolio" when
gambling on sports/horses etc.  For example, if you had $10,000 to
"invest" in sports bets, you could bet $500 per event, which is a well
diversified "portfolio".  Your odds of losing everything are very low
indeed, especially if you are betting on 2 horse races (ie a rugby
match).

In my opinion, the only difference between betting on a rugby game and
investing in tech stocks, is the people who bet know more about rugby
than the people buying tech stocks know about the underlying companies
they are buying into.  Sure, there are exceptions to this rule, and I
note that many advocates of these stocks in this forum run/are involved
with companies in the industry, and presumably, have above average
knowledge of the merits or otherwise of a technology.  Honestly tho, I
know someone (i hope he's not reading this forum!) who doesn't even own
a home computer, is not computer literate, and is happily buying net
stocks on dubious advice. That's scary.

Cheers,
Phil

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