Episode description
Quick Fire Finance for the Day:
"Here’s the thing. How on earth do you know the difference between investing and gambling? For the life of me, I cannot tell the difference.
Bank deposits return almost nothing, so they are not much of an investment. You may as well hide your money in the rose garden. No taxes, no fees.
Take a risk for a better return, and you’re a gambler, surely. There’s plenty of choice — take a punt on art, classic cars, Bitcoin, number plates, rental property, alpacas, phone cards, gold or shares.
The bigger fool theory relies on you finding a bigger fool to pay you more than you did in the first place. Somebody is bound to lose money at some point, surely. So Mary, what is the difference between investing and gambling?"
Source: https://maryholm.com/nz-herald-30-october-2021/
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