> I don't understand where you're going with this at all.
Because you've never been to a casino. Because you've never gambled and won. Because you don't understand human nature. Because you're trying to rationalize your way to the answer through logic, but people don't invest or live that way.
If you try what I asked you to do, you'll understand. You'll also understand why those who are wealthy invest the way they do and why I said what I did.
I'll repeat what I said. It makes perfect sense for those who are wealthy to invest conservatively. If you find yourself with lots of money at the casino, the best course of action is to leave.
> If you find yourself with lots of money at the casino, the best course of action is to leave.
And if you find yourself with not much money at a casino, the best course of action is to leave. The casino provides no insight into who should bet on investments with positive expected returns.
I'm talking about how people should invest anyway. Actual behavior is largely irrelevant to that.
> If you try what I asked you to do, you'll understand.
Physically going to a casino and winning or losing fifty dollars is not going to explain anything.
> I'll repeat what I said. It makes perfect sense for those who are wealthy to invest conservatively.
Sure, it's a fine strategy. But it's even better for poor people to invest conservatively, in my book. How about you explain why you think it's a bad strategy for poor people?
I'll put that again, to make sure nothing is misunderstood: I think investing conservatively is an okay strategy for everyone. But I think the wealthy should be more inclined than the poor to pick up risky bets with high potential rewards, with part of their money.
Because you've never been to a casino. Because you've never gambled and won. Because you don't understand human nature. Because you're trying to rationalize your way to the answer through logic, but people don't invest or live that way.
If you try what I asked you to do, you'll understand. You'll also understand why those who are wealthy invest the way they do and why I said what I did.
I'll repeat what I said. It makes perfect sense for those who are wealthy to invest conservatively. If you find yourself with lots of money at the casino, the best course of action is to leave.