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Quotes on Gambling

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Active Management, Aging, Bear Market, Behavior, Benchmarks, Bonds, Bull Market, Business, Career, Cash, Cash Flow, Competitive Advantage, Compound Return, Cyclical Stocks, Decisions, Diversification, Dividends, Earnings, Economic Cycle, Economics, Economists, Expansion, Fees, Forecasting, Gambling, Gold, Growth Stocks, Index Funds, Inflation, Interest Rate, Investing, Knowledge, Liquidity, Losses, Luck, Management, Margin Trading, Market Bubbles, Market Correction, Market Crash, Market Cycle, Market Efficiency, Market History, Market Timing, Math, Mistakes, Probability, Real Estate, Recession, Return, Risk, Risk Management, Savings, Security Analysis, Selling, Shareholders, Short Selling, Special Situations, Speculation, Stock Market, Stock Picking, Stocks, Taxes, Technology, Time Horizon, Turnover, Uncertainty, Valuation, Value Investing, Volatility, Wall Street,

Quote Authors

Arnold Van Den Berg, Arthur Rock, Benjamin Graham, Bernard Baruch, Bill Miller, Charles Ellis, Charlie Munger, Chris Browne, Chuck Akre, Daniel Kahneman, David Abrams, David Swensen, Dean LeBaron, Dean Williams, Edward Thorp, Edwin Lefevre, Fred Schwed Jr, George Soros, Henry Singleton, Hetty Green, Howard Marks, Joel Greenblatt, John Bogle, John Kenneth Galbraith, John Maynard Keynes, John Neff, John Stuart Mill, John Templeton, Lou Simpson, Marty Whitman, Meir Statman, Michael Price, Mohnish Pabrai, Myron Scholes, Paul Tudor Jones, Peter Bernstein, Peter Cundill, Peter Lynch, Philip Carret, Philip Fisher, Richard Thaler, Robert Kirby, Robert Shiller, Robert Wilson, Seth Klarman, Stanley Druckenmiller, T. Rowe Price, Walter Schloss, Warren Buffett,

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Never before had there been such gambling as there was in those last turbulent years of the '20s, but few people realized they were gambling -- they thought they had a sure thing.
”

Bernard Baruch
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There has always been, and will always be, windfall profits. At any point in time, certain people are being enriched unjustly because they get there very early.
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Robert Wilson
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We have a stock market which some people use like a gambling parlor.
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Charlie Munger
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There has always been a considerable number of pathetic dopes who busy themselves examining the last thousand numbers which have appeared on a roulette wheel, in search of such a repeating pattern. Sadly enough, they have usually found it.
”

Fred Schwed Jr
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I think I am safe in asserting that the margin trader, speculator, gambler, or whatever you choose to designate the average man who goes to Wall Street after easy money, does not lose money when he sells. He loses it when he buys!
”

Edwin Lefevre
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The propensity to gamble is always increased by a large prize versus a small entry fee, no matter how poor the true odds may be.
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Warren Buffett
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The trading favorites of 1928 were high-priced, untried, and unseasoned stocks that made one wonder whether the public did not think that the higher the price the better the stock.
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Edwin Lefevre
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It is one of the common pieces of Wall Street experience that when the public goes stock mad and the market leaders are filled with the arrogance of prolonged success, such little things as high money rates or decreases in earnings or unraised dividends have no instant effect on the market -- that is, on the state of mind of the speculating public. In the end, of course, all violations of the fundamental laws of economic and financial common sense are paid for; but every bull thinks he will unload before the break.
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Edwin Lefevre
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"Easy money" means only one thing when it means money that has come easy: It means money goes even more easily than it came.
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Edwin Lefevre
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When people think there's easy money available, they're not inclined to change.
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Warren Buffett
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Any time you offer a big prize for a small amount of money, you encourage stupid behavior on behalf of those you're appealing to.
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Warren Buffett
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The way I would think about risk aversion is most people would not want to toss a coin for their entire net worth.
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Seth Klarman
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The first task of the bargain hunter is to narrow the field and separate the solid prospects from the ones that are counting on hopes, prayers, and miracles.
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Peter Lynch
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Avoid long shots. I've bought about 30 long shots in my life. I've never broken even on one.
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Peter Lynch
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When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done.
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John Maynard Keynes
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The game of professional investment is intolerably boring and overexacting to anyone who is entirely exempt from the gambling instinct; whilst he who has it must pay to this propensity the appropriate toll.
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John Maynard Keynes
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Gambling is a tax on ignorance. People often gamble because they think they can win, they're lucky, they have hunches, that sort of thing, whereas in fact, they're going to be remorselessly ground down over time.
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Edward Thorp
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Casino gambling with a system where you have the edge is a wonderful teacher for elementary money management.
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Edward Thorp
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