Let's say that "John" and "Bill" do the following to earn a living: "John" trades the futures contracts. His account is leveraged and he takes risks as he tries to benefit from price changes. For simplicity sake let's say that the time frame of its trades is medium to long term. "Bill" invests in real estate properties by flipping them. He too leverages (down payment for the houses) and takes risks (nobody knows where home prices are going to be few months or years down the road). My question is: why "Average Joe" believes that "John" has a riskier way of making money than "Bill"?