Ep. 1077: Inspiration from Three Bright Minds with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Differences Between a Gambler and an Investor
Gambler versus investor. Most gamblers will just bet based on a lucky feeling or even worse when they've lost. The top 0.1% of blackjack players and then everyone else were the gamblers. They played based on superstitions. Whereas our team, including myself, never gambled before. And I think that was a huge advantage. We learned how to play your hand correctly in every situation. That's really what differentiates a gambler from investors. Do you ever recall at any point in time whether it's one of the biggest hands you had been successful at? You're obviously pretty good at playing cards. But for the same emotional roller-coaster as gambling
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