Is "Playing the Stock Market" gambling?
First, let's look at some of the definitions of the word gamble.
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–verb (used without object)
- to play at any game of chance for money or other stakes.
- to stake or risk money, or anything of value, on the outcome of something involving chance: to gamble on a toss of the dice.
- to lose or squander by betting (usually fol. by away): He gambled all his hard-earned money away in one night.
- to wager or risk (money or something else of value): to gamble one's freedom.
- a venture in a game of chance for stakes, esp. for high stakes.
–verb (used with object)
–noun
So, if we take these definitions of the word gamble, how can we relate these to the stock market.
is/are tied to, and, I'm sure, many others. You can do all of these things in games as well. We've all seen a baseball game where the manager will bring a left-handed pitcher to face a left-handed batter, or a basketball game where the coach substitutes a good defender for a good scorer every opportune time he/she has, or a poker player with a stone cold face and balls of steel, these are just ways to improve their chances of winning the "pot."There's a big-shot gambler sitting at a Texas hold'em table in a big Vegas casino. He's been watching every body very closely the entire game, and he just caught one of the remaining players bluffing with only 1 card left to deal. He has a full house, so he goes all in, and to his surprise, the other player follows suit and does the same. The next card falls, and his heart skips a beat as he watches his opponent lay down a straight flush.
Both sound like gambling to me, buying into something your not sure of. (see a list of poker hands here)
I believe buying and selling stocks is gambling. Last I checked, gambling is illegal in most parts of the U.S. This includes New York state, except the lottery, elderly BINGO, and Native American casinos set up on their native land. Last I checked, Wall-Street wasn't ran by a Native American and it's not on a Native American plot of land. Same with NASDAQ, which is in Chicago, Illinois. In Illinois, gambling is legal in casinos on Native American land and on river boats. Again, NASDAQ is definitely not on a boat and downtown Chicago isn't owned by the Native Americans.
Where am I going with this? I don't know. I'm just venting. The stock market has made several of my friends well-off, it has provided for many retirements and college educations. I don't think it's inherently evil, I just think a lot of the people who have a lot of say in how it works could use a better code of ethics and stronger moral values. It seems like a lust for money, power, and things have replaced "love thy neighbor" and "support your community" attitudes.
According to Dictionary.com
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