I think that comparing investment in company stocks to a casino is profoundly misleading. Market optimism and exuberance has absolutely no effect on the outcome of games of chance – there’s nothing to inflate a bubble. The marketplace for scams and schemers who sell “fool-proof methods to win big” is not even comparable. Most sensible people enter a casino with the understanding that they will have some fun breaking even or losing. They don’t go in there looking for a long-term hedge against inflation.
In short, the average casino is considerably more honest about the risks of your investment than Wall Street could ever hope to be.
