Quote:
Originally Posted by Scipio  If a black jack player is card counting, he is not gambling. Gambling is based purely on chance, whereas investment is based on some controllable factors which you have to have knowledge of. I do agree with you that a card counter is doing something similar, although I don't think it should be called gambling, which is leaving everything to chance.
Do you subscribe to the Efficient Market Hypothesis maybe? |
I'm guessing you don't spend much time with gamblers. Ask any winning blackjack or poker player if what they do is gambling, and they will say yes and look at you funny. They don't call themselves "professional gamblers" for nothing.
I do not subscribe to the efficient market hypothesis. In fact, I know it to be false in a wide variety of useful scenarios, although I'm not inclined to prove the point to anyone who disagrees.
I should note that calling something gambling has no negative connotation to me. I gamble all the time. I owe most of my wealth to gambling.