Forum Archive Index - February 2004

[Gavin Treadgold <gav@rediguana.co.nz>]

Nope, gotta disagree with the pokies comment... :)

"Pokies are to Lotto what Horse Races are to Shares"

Pokies and Lotto approximate randomness in their outcomes, you are bound to
the long term statistical odds. Horse races and shares however do not. You
can train horses to be fitter, apply nutrition - as with shares you can
chose better horses for certain courses. You can't do that in random games
(or for the nitpickers with pokies - psuedorandom).

Yes they are all a form of gamble as your overheard comment suggests, but
they are vastly different as you have much more control over the outcome
through research. Horse races and shares are not random, and the results are
not evenly distributed. There are some really good horses, who consistently
perform better than others, you can't say that about lotta or pokies,
otherwise we would be seeing people who have won first division lotto a
statistically significant number of times.

Cheers Gav

PS and as to learning, same as others, not going to stop till I fall over
dead. If asked, I'd call myself an athiest, however I don't rule out the
next step. But being a pragmatist, I'm not going to worry about that until I
get there, likewise I don't know where I've come from, so I'm going to focus
on the here and now. And now I must return to my study, I have an overdue
essay to finish...



________________________________

        From: sharechat-owner@sharechat.co.nz
[mailto:sharechat-owner@sharechat.co.nz] On Behalf Of Callum t
        Sent: Saturday, 31 January 2004 23:10
        To: sharechat@sharechat.co.nz
        Subject: Re: Re: RE: [sharechat] I Dunno



        Allan: Touché
        I agree with that, for I have found thus far that if you are not
learning, growing or following a purpose it is easy to lurk in the
doldrums...

        Incidentally I heard shares described the other day as glorified
'pokies'... Obviously value investors would beg to differ...



        regards
        Callum Thomas

        http://www.moneyquestions.co.nz <http://www.moneyquestions.co.nz/>


________________________________

        Download MSN Messenger <http://g.msn.com/8HMAENNZ/2743??PS=>  - add
your friends!
----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/chat/forum/




----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/chat/forum/