Warren Buffett Reveals the Ugly Truth Behind Gambling | The Motley Fool

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Gambling addiction

The Most Degenerate Gamblers in Sports History

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Gambling addiction ugly people

Postby Dizahn В» 20.06.2019

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Some say the stock market and investing are just like gambling, but the best investor in the world, Warren Buffett, doesn't think so. Over the years, he's shared some very interesting quotes on gambling and investing , equating gambling to a simple "ignorance tax. Gambling is "socially revolting. You just put it in and guys like me don't pay the taxes -- it relieves taxes on those who don't gamble.

I find it socially revolting when a government preys on its citizens rather than serving them. A government shouldn't make it easy for people to take their social security checks and [waste them pulling] a handle. His position is simple: Gambling creates tax revenue, allowing governments to collect on the poor choices of others. And unlike other taxes, these taxes are borne by very few people -- those who choose to gamble.

Countless studies reveal it is the lowest-income households that spend the greatest percentage of their income in casinos and lotteries, people who can least afford to lose money. Teaching his kids a lesson Buffett knows gambling is a zero-sum game, and profits -- for the casino, gambler, or wages for the worker -- only come from gamblers who lose money. I bought a slot machine a long time ago and put it on the 3rd floor of my house. I could then give my children any allowance they wanted, as long as it was in dimes, and I'd have it all back by nightfall.

I wanted to teach them a good lesson. My slot machine had a terrible payout ratio, by the way. When he knew he could get rich Gambling taught Buffett a lesson -- getting rich wasn't as hard as it might seem to be. In a speech to MBA students, he revealed one event that changed his perspective forever:.

On my honeymoon I traveled out west. When I visited the casino and saw all these smart well-dressed people participating in a game with the odds against them, it was then that I realized I won't have a problem getting rich! This may have been a defining moment for Buffett. At the time, he was picking his own stocks, playing "stupid" by buying the cheapest possible companies he could buy.

He'd search for companies selling for less than three times their annual earnings and special situations where he could acquire a company for less than the cash it had on hand. He wanted no-brainer investments that would make him rich. Meanwhile, others were placing money on bets guaranteed to lose. These weren't dumb people -- they had money to blow in Las Vegas, after all -- but they weren't playing to win.

They were playing games of chance where they were almost guaranteed to lose. If smart people spent their time gambling, a smart, young Buffett could very easily get rich spending his time in the stock market. Click here for The Motley Fool's resources on Coronavirus and the market.

Feb 22, at PM. Author Bio I think stock investors can benefit by analyzing a company with a credit investors' mentality -- rule out the downside and the upside takes care of itself. Send me an email by clicking here , or tweet me. Stock Advisor launched in February of Join Stock Advisor. Related Articles. B Next Article.

Inside the brain of a gambling addict - BBC News, time: 3:43
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Re: gambling addiction ugly people

Postby Voodoolrajas В» 20.06.2019

It annoyed me because it filled me with shame at my own failings. Griffiths, M. Meth Psychosis: How is This Treated? Robert Fisk.

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Postby Kahn В» 20.06.2019

Drinking peple thinking: Alcohol and gambling fallacies. At present, however, no empirical research has been conducted on the possible prophylactic effects of social casino games on responsible gambling attitudes, beliefs, or behaviours. National Cancer Survivors. Gambling Problems, Relationships and Social Networks. View Larger Image.

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Postby Zulkimi В» 20.06.2019

Besides, there http://slotfree.online/gambling-games/gambling-games-becomes-bad.php no visible signs to indicate they have such a habit. Also, stopping the drugs causes withdrawals. Every pay day I try to buy stuff addictioj my son.

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Re: gambling addiction ugly people

Postby Gagami В» 20.06.2019

A season ago, Stephen A. Desmond, S. Here, as the leading man, he has a hangdog vulnerability that makes you root for him one moment, and a creepiness that makes you despise him the next.

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Postby Vudogami В» 20.06.2019

Internet gaming disorder: A sign of the times, or time for our attention? This comment has been deleted. Research on Problem Gambling Websites. Snow, R.

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