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Playing the lottery is also very profitable for those who succeed.
by cptaj 7y ago
Playing the lottery is also very profitable for those who succeed.
- vonmoltke 7y agoCorrect, and the statement "it is impossible to become rich by playing the lottery" is absurd. It's part of an annoying tendency to conflate "extremely low probability of success" with "impossible".
- mrandish 7y agoYes, the title should have been something like "impossible for an individual to day trade stocks for a consistently reliable living".
- deleted 7y ago[deleted]
- firethief 7y agoIs that the original goalpost? Because I'd say it is impossible to make a living playing the lottery. To make a living doing something, it needs to provide enough positive cash flow.
- vonmoltke 7y agoIt's the goalpost of the post I was responding to. I may have misunderstood the point, though.
- tobr 7y agoIgnore the link text here. They’re saying it’s “virtually impossible”, which would be true of the lottery as well.
- vonmoltke 7y agoI'm on the fence about whether adding the weasel word "virtually" is any better.
- ajscanlan 7y agoI think the term "for a living" is more important. How would you interpret the phrase "It's impossible for an individual to play the lottery for a living"? Technically we both know it IS possible, technically. But in the real world? I don't know, but I wouldn't be suggesting anyone out there try make a living playing the lotto.
- tobr 7y agoIt’s not a weasel word. A weasel word is used to mask a lack of sources or data, that’s not the case here.
- wasdfff 7y agoIf you loose the lottery you end up with a piece of reciept paper, but if you buy a stock you have it for as long as you want. The market always goes up. Even if right after this comment, if the sp500 tumbles and we enter a recession, your share of vix doesn’t go anywhere. Youd just wait for the market to recover and hit the price you bought it for. However, day trading isn’t really viable unless you have a lot of money to take advantage of every dip and hill and get around day trading restrictions.