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Similarities Between Playing Craps And Investing
Do you know the difference between playing craps and investing in the stock market? In my opinion, absolutely nothing! There is very little difference between playing craps and investing in the stock market. Some stocks have a high risk factor with a higher possibility and expectation of return, while other stocks have a lower risk factor but also with a lower expectation of return. Similarly, some craps bets have a higher risk factor with a higher payout while other craps bets have a lower risk factor with a lower win rate.
There are many similarities between different types of stock investing and the game of craps. For example, investing in stock options is extremely risky compared to investing in conservative dividend-paying stocks, such as Disney, Coca Cola or McDonald’s. Stock options will allow you to make huge profits, but with a lot of risk. Investing in the conservative companies will have lower risk, but will give you much lower profits. Of course, you can still lose money investing in conservative companies.
In craps, you can bet on a 2 or a 12 which will bring you the biggest profit (pays 30 to 1), but it also has the biggest risk of losing (less than 3% chance of winning). Or, you can bet on the 6 and 8 which have lower payouts, but also lower risk of loss. As with investing in stocks, a craps player will have a chance of losing even on low risk bets.
Webster’s New World Dictionary, Compact School and Office Edition, defines “Investing” as “putting (money) in business, obligations, etc., in order to obtain a profit”. Webster’s Dictionary defines “Gamble” as “1. to play games of chance for money, etc. 2. To take a risk for an advantageous position.” By comparing the definitions of “Invest” to “Gamble”, it can be seen that if you invest, you put money in stocks (company) or bonds or bank certificates of deposit in order to make a profit. If you “gamble” (play craps), you place money (a bet) on part of the craps table layout in order to win money. Depending on how you invest and how you bet, playing craps determines whether you will have a greater chance of winning money or a greater chance of losing your money.
If you listen to financial talk show hosts on the radio and their guests and watch funded television programs (CNBC), as well as read investment magazines and publications, you will notice investment philosophies similar to those that we suggest for playing craps. Some of the comparisons are:
1. “Investing always involves risk.” — Don McDonald, nationally syndicated talk show host, 1/24/01. Bob Brinker from Money Talk also said something along the same lines.
Translation: Playing craps always involves risk.
2. An American Century advertisement in Smart Money Magazine, January 2001, page 58, states in part the following:
“It’s knowing that teamwork and a disciplined approach can produce strong long-term results.” See also Money Magazine, December 2000, page 30.
Translation: Playing craps with a disciplined approach can yield solid long-term results.
3. TD Ameritrade, in its Disclosure to Investors on Options (2008), states in part:
We know that options can play an important role in your investment strategy. . .
Options are not suitable for all investors because the particular risks inherent in options trading can expose investors to potentially rapid and substantial losses.
Translation: Playing craps is not for everyone. Playing craps can expose individuals to potentially rapid and substantial losses.
If you apply sound investment techniques and trading principles to playing craps, you should be able to minimize your losses while maximizing your profits (winnings). Remember – – just as there is no foolproof strategy for investing, there is no foolproof strategy for playing craps.
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