Caffeinated
I couldn't read a book properly at night after work. I'm the kind that don't sleep at work.. i regard it as unproductive (exceptions do happen sometimes tho). So after work on weekdays.. my brain will shutdown after dinner. So in order to read my book properly.. i went to macs to get a coffee. Now i can't sleep liao.
So i shall revise on what i had read earlier on. Investment vs Speculation
The next time somebody tells me buying 4D or ToTo is an investment.. i will not hesitate to smack the daylights out of him/her. As quoted from Benjamin Graham, an investment operation is one which upon thorough analysis promises safety of principal and an adequate return. Operations not meeting these requirements are speculative. And you tell me gambling is an investment?!
In an investment, there has to be a margin of safety. Is there any in buying 4D? The odds are always for the house against you. The probability of striking 4D is practically like 0.01. How big is that for a reasonable margin of safety? much less to mention even an adequate return.
Buying 4D/ToTo and the like are just speculative operations based mainly on luck. You may be lucky once.. twice... but forever? Just like people claim that the betting outlet at yishun is lucky.. please, its just because there are more people buying there thus driving up the probability that a winning ticket might emerge there. The outlet is lucky.. i don't think so. I'm exasperated by the fact that some people keep whining about how the garmen is sucking our hard-earned money when they are the exact same people offering money to the government on the platter by way of singapore pools. Fools never learn. hee.. :P
think i shall go lie on the bed and try to sleep.
