this post was submitted on 18 Jan 2025
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Thinking about it makes the argument really really poor. If I'm a construction worker who spent decades perfecting my skills so I get promoted to management, now I have to hire someone else to take my previous position. The whole point of paying someone to do something should be because your time is better spent doing something else. So a very skilled person SHOULD be paying someone to get coffee. So the whole concept falls apart.
This is based on the fallacy that people deserve to be rich because they are more skilled and work harder. In most cases this is not true. Most just use money to make more money. They don't actually produce anything useful for humanity.
You understand that is a skill in and of itself. Which is why so many day traders end up going bankrupt. To be able to actually consistently make money off of money isn't magical, it doesn't happen automatically. If it did everyone would be far wealthier.
Well yeah, so do most of the gamblers, but some miraculously don't, but we don't believe that playing rouletts is a skill now. Incidentally, moat of the people who consistently gamble but don't go bankrupt are people who have more money than it's possible to lose in one sitting.
Playing stonks follows exactly the same logic.
Actually you make a great point. Which is why there's professional poker, where gamblers can literally make a living. Understanding the difference between being a professional and being able to consistently make money and where to go to do it, is part of the skill I'm talking about. Thanks!
Not understanding the difference between the game of skill and the game of chance is exactly the grasp on reality that I expected from you based on this thread.
No, your not understanding that games of skill or chance are both gambling. Being able to identify the difference makes you a gambler who can live off his gambling or one who will go broke. Same trick in investing.
That's definitionally not what the word means. But you probably believe that you can predict the streaks in slot machines so I am pretty sure I'm wasting my time here