Comments on: It Is Not the Cards You are Dealt; But is How You Play Them http://ContrarianEdge.com/2006/12/02/it-is-not-the-cards-you-are-dealt-but-is-how-you-play-them/ Vitaliy Katsenelson blog on the economy, stock market, and stocks. Applying Active Value Investing approach. Sun, 21 Mar 2010 14:46:01 +0000 http://wordpress.org/?v=abc hourly 1 By: Scott Clous http://ContrarianEdge.com/2006/12/02/it-is-not-the-cards-you-are-dealt-but-is-how-you-play-them/comment-page-1/#comment-190423 Scott Clous Sun, 12 Apr 2009 23:55:48 +0000 http://ContrarianEdge.com/2006/12/02/it-is-not-the-cards-you-are-dealt-but-is-how-you-play-them/#comment-190423 As a young man, I guess I once made my time as productive... signed up for a cruise, enjoyed watching others lose their money, chattted with the bar maid, and in a very short time understood the house's odds better, as well as the psychology of any casino... on the way out, free drinks, happy smiles, music... after we hit the limit, people spent all of their money, a few sea sick... on the way back, no music, no free drinks, no smiles... and no winners. I jotted down notes, and kept the free $10 token to remember that gambling is an easy way to lose money, and the sad faces of the elderly passengers. I think I had bought my sodas, but for the price of admission, a few dollars, to learn about how the casino boat removed money from the marks, it was priceless. As a young man, I guess I once made my time as productive… signed up for a cruise, enjoyed watching others lose their money, chattted with the bar maid, and in a very short time understood the house’s odds better, as well as the psychology of any casino… on the way out, free drinks, happy smiles, music… after we hit the limit, people spent all of their money, a few sea sick… on the way back, no music, no free drinks, no smiles… and no winners. I jotted down notes, and kept the free $10 token to remember that gambling is an easy way to lose money, and the sad faces of the elderly passengers.

I think I had bought my sodas, but for the price of admission, a few dollars, to learn about how the casino boat removed money from the marks, it was priceless.

]]> By: MARK http://ContrarianEdge.com/2006/12/02/it-is-not-the-cards-you-are-dealt-but-is-how-you-play-them/comment-page-1/#comment-164427 MARK Fri, 21 Nov 2008 23:56:20 +0000 http://ContrarianEdge.com/2006/12/02/it-is-not-the-cards-you-are-dealt-but-is-how-you-play-them/#comment-164427 Fantastic article. I think it should be included in every schools economics class. Fantastic article. I think it should be included in every schools economics class.

]]> By: Vitaliy http://ContrarianEdge.com/2006/12/02/it-is-not-the-cards-you-are-dealt-but-is-how-you-play-them/comment-page-1/#comment-727 Vitaliy Mon, 29 Jan 2007 03:37:38 +0000 http://ContrarianEdge.com/2006/12/02/it-is-not-the-cards-you-are-dealt-but-is-how-you-play-them/#comment-727 Amen! Amen!

]]> By: Mike http://ContrarianEdge.com/2006/12/02/it-is-not-the-cards-you-are-dealt-but-is-how-you-play-them/comment-page-1/#comment-665 Mike Mon, 22 Jan 2007 04:11:04 +0000 http://ContrarianEdge.com/2006/12/02/it-is-not-the-cards-you-are-dealt-but-is-how-you-play-them/#comment-665 Hey Vitaliy, This is a terrific lesson and one that investors typically don't learn. Add to your valuable lesson the notion of discipline. Process is process without discipline. If you have the patience and the wherewithal to stay the course, even though you see others without process at best--and total disdain for the system at worst, you have to know that your discipline with the process will previal. The stimulus from short term gains often lead to the breakdown--the undeniable truth that over time, things change, and sometimes for the better and sometimes for the worse. Thanks for the great article. Cheers. M Hey Vitaliy,
This is a terrific lesson and one that investors typically don’t learn. Add to your valuable lesson the notion of discipline. Process is process without discipline. If you have the patience and the wherewithal to stay the course, even though you see others without process at best–and total disdain for the system at worst, you have to know that your discipline with the process will previal. The stimulus from short term gains often lead to the breakdown–the undeniable truth that over time, things change, and sometimes for the better and sometimes for the worse. Thanks for the great article. Cheers.
M

]]> By: Fat Pitch Financials http://ContrarianEdge.com/2006/12/02/it-is-not-the-cards-you-are-dealt-but-is-how-you-play-them/comment-page-1/#comment-395 Fat Pitch Financials Wed, 03 Jan 2007 01:31:02 +0000 http://ContrarianEdge.com/2006/12/02/it-is-not-the-cards-you-are-dealt-but-is-how-you-play-them/#comment-395 <strong>Festival of Stocks 17...</strong> Welcome to the seventeenth edition of the Festival of Stocks.  This is the first Festival of the new year.  I decided to hold off until late in the day to post the festival since the major U.S. stock markets were closed today in observance of Preside... Festival of Stocks 17…

Welcome to the seventeenth edition of the Festival of Stocks.  This is the first Festival of the new year.  I decided to hold off until late in the day to post the festival since the major U.S. stock markets were closed today in observance of Preside…

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