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It is an interesting point, but it does contradict your prior claim. One problem I see is that an investor may actually be dealing with a lottery-like game wit
by jsprogrammer 11y ago
It is an interesting point, but it does contradict your prior claim.
One problem I see is that an investor may actually be dealing with a lottery-like game without knowing. That is, a particular investment may have actual, calculable odds (would depend on the business model) that are as worse as the lottery model, but are, however, unknown (or even unknowable) to an investor.
- Dylan16807 11y agoEven a truly visibly awful business has better odds than a lottery.
- jsprogrammer 11y agoI can't imagine that any late investors into Madoff's business had even a chance at a positive outcome. Assuming the lottery ball machine isn't rigged, there is still a chance that your numbers could come up.