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Investing vs Gambling
Investing has a positive expected value. Higher risk = higher expected return over the risk-free rate.
Gambling has a negative expected value. Higher risk = higher expected losses.
The most fundamental principle of all in gambling is simply equal conditions, e.g. of opponents, of bystanders, of money, of situation, of the dice box, and of the die itself. To the extent to which you depart from that equality, if it is in your opponent’s favor, you are a fool, and if in your own, you are unjust.