Jump to ContentJump to Main Navigation
What I Learned Losing a Million Dollars$
Users without a subscription are not able to see the full content.

Jim Paul and Brendan Moynihan

Print publication date: 2013

Print ISBN-13: 9780231164689

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231164689.001.0001

Show Summary Details
Page of

PRINTED FROM COLUMBIA SCHOLARSHIP ONLINE (www.columbia.universitypressscholarship.com). (c) Copyright University of Minnesota Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CUPSO for personal use.date: 23 May 2022



(p.145) Conclusion
What I Learned Losing a Million Dollars

Jim Paul

Brendan Moynihan

Columbia University Press

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.

Keywords:   behavior, investor, poker player, money, stocks, economy

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.

Please, subscribe or login to access full text content.

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 .