RNG Questions

[advantage playe]

by the way fl phil, invesments in the US market should be in low cost index funds that mimic say the s%p 500.actve investing even by so called experts at Merrill lynch underperform the market over any 5 year or longer !! please read a random walk down wall street by burton malakiel or winning with the market bt douglas seese. you r giving very bad advise telling people to own only a few stocks increasing ther risk expodenialy while not increasing there e v expected value.i still cant spell but I can count all the way up to 10 million !

[FloridaPhil]

Index funds are a great way to start investing or for someone who doesn't have the time to do it themselves. They are like training wheels for investors, you use them until you can ride on your own. I don't like mutual funds. They have hidden fees and I can do better myself than most fund managers. To do what I do, you must have access to the best research and advice. Someone who knows my goals and is on the same page. My advisor does not get paid from sales commissions, she gets paid as a percentage of my portfolio. The bigger it gets, the more she makes. I like this arrangement.

This is not a stock investment forum. I do find it interesting that we spend time talking about having an edge on a casino when hardly anyone has one. Having an edge on your investments is something anyone can do.

If you want me to tell you how to make a million dollars in six months playing video poker, I can't. If you want me to tell you how a 20 something year old can retire a millionaire, I can.

[notes1]

investing in stocks does not guarantee a positive result. playing a VP machine with a positive pay table does not guarantee a positive result. those who take positions advocating either 'game', should state as much.

low cost index funds have consistently outperformed many active funds.

the lowest cost index funds can have an annual expense as low as 0.03%. i can almost guarantee all financial advisors, who do not collect a commission, are charging clients more than 0.03%.

mutual funds do not have hidden fees. by law, all fees must be disclosed.

index funds are not only for beginners.

[Tedlark]

"Greed is Good" - Gordon Gecko

Has Gordon Gecko ever dropped Bob Dancer's name?

[advantage playe]

fl phil please google efient market hypothesis strong form weak form.it states you cannot outperform the market except with authentic illegal inside information. this can land u in jail unless of coarse your last name is Clinton !!

[FloridaPhil]

I don't need to outperform anyone except my own expectations. Investing for the long term is not gambling. Day trading or attempting to guess when the market is going to move or which way it will "IS".

I have given you some solid investing advice. It's not my advice, it's the advice of people who consistently make money through investing. Their profits are not theoretical or based on some can't lose math formula. You don't have to comb the world searching for positive games, breath second hand smoke, stay out all night, put up with drunks or bad machine maintenance. Your wife will be happy. Your kids will be proud of you. When you're old, you can laugh and enjoy life. You may even go to the casino and have some fun. You can play single coin if you wish because you won't care.

The RNG does what it does when it wants to. You can control what happens to your investments.

[FloridaPhil]

"Greed is Good" - Gordon Gecko. Has Gordon Gecko ever dropped Bob Dancer's name?

Ted, I don't know. I didn't see the movie. Greed is not good. Greed is an "intense and selfish desire for something, especially wealth, power, or food". There is nothing wrong with making a profit. It's how you go about it that makes the difference.

You seem to be fixated on protecting a public figure. If Bob Dancer didn't want to be talked about, he wouldn't have written his books or created his radio show. He even created a pseudo name so he could be discussed without being personally identified. He is the only one I have ever heard of that claims to live a "nice lifestyle" solely by playing video poker. He is a hero to some people on this forum. I respect him, but I wouldn't trade places with him.

I have no doubt Bob Dancer beat the casino back in 2000. I think that's great. I don't know if he can do it today. I don't know if anyone can. That's doesn't concern me. What concerns me is when someone calls prudent long term investing gambling. That's ridiculous. If a retirement plan is based on video poker, you need a better plan. I believe you know that as well as I do.

I assume you are about my age. If not, I assume you are near retirement. Then I am sure you know the long term saving and investment advice I am talking about is worthwhile. 78% of American say they are "extremely" or "somewhat" concerned about not having enough money for retirement. That is an avoidable tragedy.

[Tedlark]

"Greed is Good" - Gordon Gecko. Has Gordon Gecko ever dropped Bob Dancer's name?

Ted, I don't know. I didn't see the movie. Greed is not good. Greed is an "intense and selfish desire for something, especially wealth, power, or food". There is nothing wrong with making a profit. It's how you go about it that makes the difference.

You seem to be fixated on protecting a public figure. If Bob Dancer didn't want to be talked about, he wouldn't have written his books or created his radio show. He even created a pseudo name so he could be discussed without being personally identified. He is the only one I have ever heard of that claims to live a "nice lifestyle" solely by playing video poker. He is a hero to some people on this forum. I respect him, but I wouldn't trade places with him.

I have no doubt Bob Dancer beat the casino back in 2000. I think that's great. I don't know if he can do it today. I don't know if anyone can. That's doesn't concern me. What concerns me is when someone calls prudent long term investing gambling. That's ridiculous. If a retirement plan is based on video poker, you need a better plan. I believe you know that as well as I do.

I assume you are about my age. If not, I assume you are near retirement. Then I am sure you know the long term saving and investment advice I am talking about is worthwhile. 78% of American say they are "extremely" or "somewhat" concerned about not having enough money for retirement. That is an avoidable tragedy.

Don't assume Phil, as it makes a you know what out of you. I'm at least a decade younger than you.

Actually I should be impressed because this thread went 13 days without mention (by anyone) of Dancer until you broke the streak today. This topic went from what could have been a good discussion about RNG's to financial advice. Do you think they are discussing RNG's over at "The Motley Fool?" Or Jim Cramer on "Mad Money?"

Again, why you needed to bring Bob Dancer into this thread is beyond me. I'm hopeful that if I started a thread about all the tea in China you would not somehow work him in there.

[FloridaPhil]

Again, why you needed to bring Bob Dancer into this thread is beyond me. I'm hopeful that if I started a thread about all the tea in China you would not somehow work him in there.

Ted, this forum is about all things video poker. Bob Dancer (not his real name) is a alias he chose to use to hide his real identity. Why? I don't know. He didn't create the game. He writes articles, has written many books on video poker and has his own radio show. I don't know the man personally. For all I know he could be President Trump in disguise. He claims playing positive video poker games computer perfectly made him rich or at least allows him to live what he calls a "nice lifestyle". This is quite a feat and it may be true.

I have no issue with this claim. It doesn't affect me. I don't have those games to play and I certainly can't play computer perfect forever. I live a nice lifestyle myself. I got my working capital by creating and operating a small business. It was a long and difficult struggle. I didn't hit a royal flush until after I retired. I started saving in my twenties. I invested my money. I lost my investment more than once. Despite that, I continued to save and invest. I has worked well for me and my family. I want young people to know they can do the same.

Casino gambling is not something I am proud of. I don't tell many people that I go there. It's a waste of time and money. Frankly, it's stupid. The only thing it's good for is entertainment. I can't bounce around in the ocean fishing anymore. I can't sit in a boat for 8 hours waiting to catch a bass. I can't drive around a race track in a car or crawl underneath an old Ford with oil dripping in my face.

I can drive to the casino and spend the day with my friends. Anything I win or lose doesn't affect me financially. It does affect my mental attitude. When I lose, it reminds me of how stupid I am for gambling in the first place. To control my feelings, I gamble as small as possible.

I am not on this forum to convince anyone to think like I do. I'll leave that up to others. I am here to talk about what happens when I play video poker. I enjoy playing the game even if I'm playing without money. To me it's more about the enjoyment of a day where the phone doesn't ring or at least I can ignore it for a time. When I read or hear Bob Dancer say he funds a nice lifestyle by playing slot machines, it makes me angry. I don't think about the few who might make it work. I think about the millions of people who will lose trying. Others don't seem to care. I do.

[onemoretry]

Casino gambling is not something I am proud of. I don't tell many people that I go there. It's a waste of time and money. Frankly, it's stupid. The only thing it's good for is entertainment.

Entertainment is stupid, and a waste of time and money?