Thursday, March 31, 2005

Gamble or gambol?

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From Dictionary.com:

Gamble: To take a risk in the hope of gaining an advantage or a benefit

Gambol: To leap about playfully; frolic

Invest: To commit (money or capital) in order to gain a financial return

Why do you play the market or poker? If it is for fun, a gambol, tis best if stakes are small.

If it is the first or last definition, the emphasis is on commit and risk. People will "invest their life savings on a stock they heard about on a street corner. Others will invest their entire poker bankroll on a move they saw a pro do on television.

The point is: if it is important enough to deserve a significant amount of your capitol; it is worth knowing what you are doing. Read 8 Steps to Financial Freedom, and take notes. Yeppers, you will disagree with some of it, but knowledge has value.

Pay the price. Buy the book before the investment or the game. If there is to be value in your actions they must be directed.

Ready, Fire, Aim, is not useful tactic.

There are several good poker tools on the Charity Shill poker page.

Once you have the knowledge, be sure to acquire experience as inexpensively as possible.

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