RolfAndreassen comments on Open Thread: January 2010 - Less Wrong

5 Post author: Kaj_Sotala 01 January 2010 05:02PM

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Comment author: RolfAndreassen 07 January 2010 09:46:54PM -1 points [-]

Nu, nothing's certain, but buying stock does presumably have a positive expected value.

Touching the capital, you can reframe the question as "Buy casino bonds" or "invest in a casino IPO. Besides, even when buying stock from an existing investor, you are sending a signal of the value of that stock - so many mills higher than what the next guy in line would have paid - and that provides working capital in the form of the value of the self-owned stocks, against which the casino can borrow.