Trading and Gambling and financial markets

Discussion in 'Trading' started by Rumblefish, Jun 17, 2011.

  1. Rumblefish

    Rumblefish Guest

    My college statistics teacher kept talking about using statistics to win the lottery.

    Also the guy who invented card counting and used computers to beat the casinos in blackjack was banned from casino's

    Today, using computers or card counting is a 'felony'.

    Just like insider trading, frontrunning, it's an 'advantage' over the house so it's illegal.

    Also, the guy who wrote the book beat the dealer 1960 taught Bill Gross how to utilize gambling techniques to make money from wall street. The guy is also a CEO of a major hedge fund that consistently makes 30% ROC for investors. IMO, 30% as casino operator is medicore.

    So that is the relationship between casino gambling and wall street trading. It goes way back. It's nothing new, that is how professional market participants view wall street. Options, futures, forex, stocks are just like casino chips.