Just a thought, is the boglehead philosophy akin to what makes Las Vegas casinos successful? That is to say..stay the course
and don't try to beat the odds by making foolish bets.
Las Vegas and bogleheads
Re: Las Vegas and bogleheads
Your question is confusing to me. How does stay the course apply to gambling? Play until you're broke?
- dratkinson
- Posts: 5189
- Joined: Thu Jul 26, 2007 6:23 pm
- Location: Centennial CO
Re: Las Vegas and bogleheads
They are 180 degrees out.
*Las Vegas is in the business of transferring your wealth to Las Vegas. The BH philosophy is about teaching you to control your emotions, not taking more risk than **prudent, and thereby keeping/growing your wealth for yourself.
*Las Vegas is in the business of transferring your wealth to Las Vegas. The BH philosophy is about teaching you to control your emotions, not taking more risk than **prudent, and thereby keeping/growing your wealth for yourself.
- *Could substitute stock brokers, hedge fund managers, late night infomercial producers,....
**Read the BH recommended books containing studies on the academic evidence on long term investing.
d.r.a., not dr.a. | I'm a novice investor, you are forewarned.
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- Location: San Diego
Re: Las Vegas and bogleheads
Maybe similar to the philosophy that the casinos use themselves... 

Re: Las Vegas and bogleheads
Pretty much - make "bets" with the probability of a positive outcome (house odds) - diversify (many tables/machines/customers) - rebalance (change rules if customers figure out way to win i.e. card counting in BJ)jbh42 wrote:Just a thought, is the boglehead philosophy akin to what makes Las Vegas casinos successful? That is to say..stay the course
and don't try to beat the odds by making foolish bets.
Re: Las Vegas and bogleheads
I'm with you except for rebalance. They move away from games where they do poorly rather than rebalance out of things that have done well recently.hicabob wrote:Pretty much - make "bets" with the probability of a positive outcome (house odds) - diversify (many tables/machines/customers) - rebalance (change rules if customers figure out way to win i.e. card counting in BJ)jbh42 wrote:Just a thought, is the boglehead philosophy akin to what makes Las Vegas casinos successful? That is to say..stay the course
and don't try to beat the odds by making foolish bets.
If only we could get such uncorrelated investments!