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** The Stupid Tax **

Topic closed. 40 replies. Last post 4 years ago by CinCin.

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NY
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Posted: February 20, 2013, 10:31 am - IP Logged

Warren buffet got rich in a style much like playing the lottery.
smart investing in stocks and other various funds is not much
different than a smart play at the right time on a certain set of numbers.
as others here have said its all about risk vs. reward.

More like inside trading by a group he hired.


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    Posted: February 20, 2013, 10:32 am - IP Logged

    More like inside trading by a group he hired.

    LOL Great point.


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      Posted: February 20, 2013, 10:37 am - IP Logged

      MMMMMMMMMMM, sounds strangely like Jimmy4671

      And MarcCharles. sounds like Karl Marx. Only backwards and twisted.


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        Posted: February 20, 2013, 10:48 am - IP Logged

        Hi Gang:

        Warren Buffett refers to the lottery as the "stupid tax".

        In part, it's true.

        Nobody that plays the lottery wants to be considered stupid.

        I'm stupid because I like to play.

        But I'm also aware of reality, randomness and probability.

        The one thing almost every lottery player refuses to acknowledge.....let alone believe, is every system, formula, method or strategy starts at zero after every draw.

        In other words, every lottery draw starts fresh. There's no such thing as "hot" or "cold" numbers in the typical sense of the word. There may be numbers which have been drawn more frequently - recently. But that does not mean they will be drawn or ignored again in the future.

        If you had two super-computers runing side by side. One computer randomly selects a number. And one computer tries to guess what the number will be...even by running thousands of sophisticated, Defense Dept level lottery software programs, would rarely pick a winner.

        If you had a thousand horses lined up on a field for a race, and you had to pick three winners, it would be almost impossible, even with historical anaylsis, to pick 3. It's not a good illustration, but it might help paint a picture of randomness.

        Anyway......just posting my thoughts. Opposing views are welcome :)

        SpamBS

          rdgrnr's avatar - walt
          Way back up in them dadgum hills, son!
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          Posted: February 20, 2013, 11:37 am - IP Logged

          Buffet is the Grand High Exalted Mystic Schmuck of investing.

          He insulted the intelligence of anyone who has any with his outrageous comparison of his taxes and his secretary's.

          I never realized what a conniving, phoney-baloney slimeball he was until I heard that one.


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            July 10, 2010
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            Posted: February 20, 2013, 11:57 am - IP Logged

            Hi Gang:

            Warren Buffett refers to the lottery as the "stupid tax".

            In part, it's true.

            Nobody that plays the lottery wants to be considered stupid.

            I'm stupid because I like to play.

            But I'm also aware of reality, randomness and probability.

            The one thing almost every lottery player refuses to acknowledge.....let alone believe, is every system, formula, method or strategy starts at zero after every draw.

            In other words, every lottery draw starts fresh. There's no such thing as "hot" or "cold" numbers in the typical sense of the word. There may be numbers which have been drawn more frequently - recently. But that does not mean they will be drawn or ignored again in the future.

            If you had two super-computers runing side by side. One computer randomly selects a number. And one computer tries to guess what the number will be...even by running thousands of sophisticated, Defense Dept level lottery software programs, would rarely pick a winner.

            If you had a thousand horses lined up on a field for a race, and you had to pick three winners, it would be almost impossible, even with historical anaylsis, to pick 3. It's not a good illustration, but it might help paint a picture of randomness.

            Anyway......just posting my thoughts. Opposing views are welcome :)

            Thanks MarcCharles,

            I like to play the lottery, so I'm "stupid" in Warren's book too! Smile

            The problem with trying to enlighten people here is that there is a small but vocal group of posters whose agenda is difficult to determine.  If they really believe the fallacies they try to propagate, they are profoundly Innumerate.  However, if they understand this as well as you and me, then they are not good people, and have a vested interest in suppressing scientifically sound knowledge such as yours above. It's hard to tell.  My last post in another thread explains the position I've come to after dealing with these people for quite some time.

            https://www.lotterypost.com/thread/247020/2936558 

            Part of my reason for posting here is explained at the end of this post...

            "I feel sorry for any innocent person that you might serve on a jury to judge some day,  especially if recognition of his or her innocence hinges on a clear understanding of randomness and probability."

            --Jimmy4164

             

            --Jimmy4164

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              Kentucky
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              Posted: February 20, 2013, 12:43 pm - IP Logged

              Buffet is the Grand High Exalted Mystic Schmuck of investing.

              He insulted the intelligence of anyone who has any with his outrageous comparison of his taxes and his secretary's.

              I never realized what a conniving, phoney-baloney slimeball he was until I heard that one.

              "outrageous comparison of his taxes and his secretary's."

              I Agree!


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                Posted: February 20, 2013, 5:54 pm - IP Logged

                Buffet is the Grand High Exalted Mystic Schmuck of investing.

                He insulted the intelligence of anyone who has any with his outrageous comparison of his taxes and his secretary's.

                I never realized what a conniving, phoney-baloney slimeball he was until I heard that one.

                Did you mean putz instead of schmuck?


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                  Posted: February 20, 2013, 6:04 pm - IP Logged

                  "outrageous comparison of his taxes and his secretary's."

                  I Agree!

                  Could you please be more specific?

                  I didn't have a problem with his comments on taxes.


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                    Posted: February 20, 2013, 6:06 pm - IP Logged

                    Did you mean putz instead of schmuck?

                    I think he meant schmuck putz....What?

                      haymaker's avatar - Lottery-012.jpg
                      Egg Harbor twp.south Jersey shore
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                      Posted: February 20, 2013, 7:36 pm - IP Logged

                      Buffet is the Grand High Exalted Mystic Schmuck of investing.

                      He insulted the intelligence of anyone who has any with his outrageous comparison of his taxes and his secretary's.

                      I never realized what a conniving, phoney-baloney slimeball he was until I heard that one.

                      I new he was full of b/s when he said he bought a modest house in 1958 for $31,500,

                      uhh...no, in 1958 a modest house cost $10,000 or less probably much less.

                      Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.

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                        Columbia, SC
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                        Posted: February 20, 2013, 7:59 pm - IP Logged

                        Buffet is the Grand High Exalted Mystic Schmuck of investing.

                        He insulted the intelligence of anyone who has any with his outrageous comparison of his taxes and his secretary's.

                        I never realized what a conniving, phoney-baloney slimeball he was until I heard that one.

                        Ahhh! Never realized this...I never cared for his music anyway.

                        "If you can DREAM it, you can DO it!"- Walt Disney

                          rdgrnr's avatar - walt
                          Way back up in them dadgum hills, son!
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                          Posted: February 20, 2013, 11:22 pm - IP Logged

                          I new he was full of b/s when he said he bought a modest house in 1958 for $31,500,

                          uhh...no, in 1958 a modest house cost $10,000 or less probably much less.

                          Roger that, haymaker.

                            rdgrnr's avatar - walt
                            Way back up in them dadgum hills, son!
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                            Posted: February 20, 2013, 11:23 pm - IP Logged

                            Ahhh! Never realized this...I never cared for his music anyway.

                            Yeah, that "Cheeseburger in Paradise" song was annoying. Wink

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                              Posted: February 21, 2013, 1:58 pm - IP Logged

                              Ahhh! Never realized this...I never cared for his music anyway.

                              CinCin...

                              I think you are thinking of JIMMY Buffet. LOL.

                              CAN'T WIN IF YOU'RE NOT IN

                              A DOLLAR AND A DREAM (OR $2)