pnrjulius comments on New Improved Lottery - Less Wrong
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Some economist once stated something like, the stock market is like a casino with odds against the "house". It means the expected gain is not zero, but positive.
If the market grows at g, with a little financial engineering, it should be possible to create a portfolio with expected gain somewhere between zero and g, with a very very long tail, i.e., a non-zero chance of huge payoffs.
I think that's just called a "portfolio". I mean, isn't that basically what investors do?