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For some, it is addiction. For others, they simply cannot fathom the risk they expose themselves to. They have no concept of the time, effort, and stress they w
by Proziam 7y ago
For some, it is addiction. For others, they simply cannot fathom the risk they expose themselves to. They have no concept of the time, effort, and stress they will cost themselves over the course of their lives as a result of their error.
Try explaining to a teenager that the 50k bet that costs them their chance at an education is actually them putting 1m+ at risk if you compound the effect over the course of their life.
- owenmarshall 7y agoI think there’s a lack of understanding of markets as well. Great, you can toss 10k towards at it if you burn your student loans. GP might be able to toss 100k with a refi and investing his home equity. Market movers have plenty more zeros at their disposal. We are bugs and the best thing to do is to make decisions that don’t make us end up as splats on their windshield.
- Proziam 7y agoAll true. Even without the concern of competing against big money, there's always the simple fact that you can just lose a bet. Through a personal connection, I'm aware of a failed SAP implementation that cost a company their position on the DOW. You'd never consider that was a possibility as a teenager because SAP doesn't even exist in your universe yet.