This chapter compares the behavior of an investor with that of a poker player. Like the poker player, the investor risks his money not knowing how the individual company, stocks in general, or the economy as a whole will perform. In relation to these comparisons, the chapter concludes that while measured inconsistency may be the key to success in poker, disciplined consistency is the key to success in the markets once an investor developed rules and made it a game—having and following a plan does not guarantee success, nor does it make an investor infallible; however, a plan is necessary for consistent loss control. Thus, there is nothing to learn from the bluffing aspect of poker, but there is something to learn from part of the lockjaw poker player's strategy.
Columbia Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
If you think you should have access to this title, please contact your librarian.
To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us .