Myths in the Movie 21

aslan

Well-Known Member
blackjack avenger said:
I would think long run considerations would be a factor with AP play. If you play enough to get to the long run then AP play takes on more investment qualities.

I guess it can be like day trading vs buy and hold with stocks.

If one's bj career was only a few hours then that may be considered a gamble, now play over time and you are investing.
Theoretically speaking, I agree. Playing "perfectly" over time you are investing. Playing a flawed game, you're back to gambling again. Even if you generally play a perfect game, but under the right chrcumstances, you are subject to "steamboating" behavior, those momentary glitches in play place you smack back in the middle of the gambling category again. But I suppose the same can be said of the stock market--a few dumb stock selections will put you squarely in the gambling category. But it takes a lot less skill to be largely an investor in the stock market over time than it does in the world of AP play. What with investment experts to help and guide you and mutual funds to ensure proper diversification, the onus is not so much on personal skills to succeed, as it is in AP play.

Finally, with both endeavors there is the calamity aspect--the stock market could go completely and inrecoverably kaput once every several hundred years, and the country might decide to put an across-the-board ban on gambling just like it once did on drinking alcoholic beverages, catching you halfway to the long run in the middle of a devastating run of negative variance. It's the "life is a gamble" syndrome. Or the "it's a gamble everytime you walk across the street" syndrome.
 
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