"Step right up and try your luck...spin the wheel and watch where she lands...everybody's a winner" - sometimes if you listen hard enough you can almost here the Carney coxing unwary investors to step up and try their luck in a game that has been rigged against them. During the last two decades it has been an amazing thing for me to watch as individuals strolled through the doors of the Wall Street casino to try their luck by betting "against the house" for a dream of riches. Just as with anyone who has ever gone to Vegas - you win sometimes; but the "house" wins most of the time.
However, there are always the "professional gamblers" that can do better than the average most of the time. Why? Because they understand "risk" in its various forms. While most amateurs will bet on most hands, take speculative positions where the odds of success are stacked against them or trying to bluff their way through a losing hand - professionals play cold, calculated and unemotional. The professional gambler understands the odds of success of every play and measures his "bets" accordingly. He knows when to be "all in" and when to fold and walk away. Do they succeed all the time - of course not. However, by understanding how to limit losses they survive long enough to come out a winner over time.
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