Posted by: mting | 13th March, 2008

It’s just so gambling

Today I met two old girls for lunch, and we talked about the recent returns on our pocket money investment.

We invested in funds, as we (or I) are too busy at picking good “eggs” from all the “eggs”. Too dangerous to put all the eggs in one basket, as we all know, then funds are relatively friendly to us. Due to the recent downturn, of course, we have been impacted and we all become forgetful on our fund logins and passwords to accessing our portfolio. It’s just too painful…

Suddenly remembered my experience at playing caribbean stud. Caribbean stud is easy as everyone who Chor D knows how to play it. It is a greedy game as there is so-called 3million jackpot. Also, it is controllable as players can choose to go or not to go. After the first time playing it with the oddone, I played it again with my colleagues at Macau. Gamble all depends on luck. For some reasons, I got full house and pairs very often. So lucky that when I got a pair of 4 I could still win the house with a pair of 2. Money went in quickly in half an hour. Then another colleague called us for dinner, and we left. I was left quite unwillingly, as I believe that the winning would definitely go on.

That night was really happy, that I won double of my “initial investment” when I left the casino due to that dinner.

After some while, there were other chanced playing it 2 more times, which I didn’t win or lose much. Last time I played it was back to the opening week of the Venetian. We sat at one table, with an auntie dealer, who is very “beginner” that she got difficulties at mixing the cards. Luckily there is the digital card distribution machine, which comforted us a little bit. Okay, after several rounds of the slow motion stud, I won more than double of my “initial investment”. I somehow remembered that I told myself to stop playing if I won double. Didn’t know where are those evil minds coming from, “hey, you won more than double, why just don’t gamble the delta?” Then we changed the table as there was a player smoking, and I just kept losing all those I have won, and even the initial investment in 5 rounds.

Could you imagine how much I hate myself when I left the Venetian? I just cannot resist the joy of winning, so evil that the winning moment has been so stuck in the loser’s mind which just makes you continue playing it.

I am just wondering, how many investors are still thinking of the time when HSI went to 30,000? Would these past happy old days just override the investors’ minds even though HSI has dropped down to 22,500 and the worldwide finance infrastructure is facing huge post-impacts on sub-prime?

At the Form 5 economic text book, there they draw a sine curve with ups and downs and explained it is the economic cycle. Theory and real-world always have some discrepancies – yes, there are ups and downs, but the period of ups is now getting shorter while the period of downs is getting longer. Worldwide economies are interlinked with financial markets. Derivatives under financial markets created chain effects either when there are ups and downs. Just look at “accumulators”, aka “I kill you later”, which has all those prolong effects for the poor richies. Sad for them, that they will still have 1 year to lose if their contract is of 1.5 year.

Maybe it’s just that I think too much of relating my overall gambling experience with the investment landscapes. No matter what, a BCP for my pocket-money investment shall be in place.

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