4 ms·

Alternatively, you don't get a rush from gambling because you have a lack of imagination on how you can beat "the math" and so have never gotten the rush from y

by abduhl 6y ago

Alternatively, you don't get a rush from gambling because you have a lack of imagination on how you can beat "the math" and so have never gotten the rush from your plan working out (at least in your small sample size and from your perspective).

WalterBright 6y ago
> you have a lack of imagination on how you can beat "the math" I.e. I don't invest in ignorant fantasies. I recall going to Lake Tahoe once. Buses would pull up to the casinos, disgorging mobs of silver-haired people rushing into the casinos to spend the day losing money. It's sad.
- orojackson 6y ago
  Or taking a different view that concurs with yours: investing in index funds or broad ETFs lets me match or beat most long-term investors with nearly zero effort. There's no need for me to waste my time reading "financial news" or developing super fancy HFT algorithms like some posters here have done. I just need to buy those index funds at my desired asset allocation and I'm good to go. Repeat until retirement. Very simple. Granted, I do complicate things a little by insisting that I never sell anything I buy, not even for rebalancing, until retirement (otherwise I wouldn't be buying and holding in my eyes). However, I get around that by constantly rebalancing with new money [1]. Honestly, I find it rather jarring that as someone who usually frequents /r/personalfinance and Bogleheads, I see lots of investing suggestions on HN that do not involve indexing. [1]: http://optimalrebalancing.tk/ http://optimalrebalancing.tk/
  - WalterBright 6y ago
    I never really understood the "rebalancing" thing. It requires selling your winners. One thing about winners - they tend to keep winning! Some people call it "locking in your gains". I call it "minimizing your returns".
    - abduhl 6y ago
      That’s weird - I call it “letting it ride” and “never leaving a hot table.” Gambling is a word used to describe anything beyond your own acceptable risk tolerance.
      - WalterBright 6y ago
        My definition is more mathematical: gambling - where the odds are against you investing - where the odds are in your favor

by abduhl 6y ago

WalterBright 6y ago

> you have a lack of imagination on how you can beat "the math" I.e. I don't invest in ignorant fantasies. I recall going to Lake Tahoe once. Buses would pull up to the casinos, disgorging mobs of silver-haired people rushing into the casinos to spend the day losing money. It's sad.

orojackson 6y ago
Or taking a different view that concurs with yours: investing in index funds or broad ETFs lets me match or beat most long-term investors with nearly zero effort. There's no need for me to waste my time reading "financial news" or developing super fancy HFT algorithms like some posters here have done. I just need to buy those index funds at my desired asset allocation and I'm good to go. Repeat until retirement. Very simple. Granted, I do complicate things a little by insisting that I never sell anything I buy, not even for rebalancing, until retirement (otherwise I wouldn't be buying and holding in my eyes). However, I get around that by constantly rebalancing with new money [1]. Honestly, I find it rather jarring that as someone who usually frequents /r/personalfinance and Bogleheads, I see lots of investing suggestions on HN that do not involve indexing. [1]: http://optimalrebalancing.tk/ http://optimalrebalancing.tk/
- WalterBright 6y ago
  I never really understood the "rebalancing" thing. It requires selling your winners. One thing about winners - they tend to keep winning! Some people call it "locking in your gains". I call it "minimizing your returns".
  - abduhl 6y ago
    That’s weird - I call it “letting it ride” and “never leaving a hot table.” Gambling is a word used to describe anything beyond your own acceptable risk tolerance.
    - WalterBright 6y ago
      My definition is more mathematical: gambling - where the odds are against you investing - where the odds are in your favor