How to gamble on stocks and bonds and win



Timothy Brown

My amateur study of professionals at large who are typically high achieving and high-income earners reveals that we have a high tolerance for risk. There is no secret there, and researchers have been looking at that for a millennium.

But why is it in today’s day and age that high-income earners who are also subjected to the highest tax rates feels compelled to gamble with their hard-earned after-tax dollars when we know full well the chances of success are minimal, if not ruinous?

One of the investment newsletters I subscribe to recently touched upon the word “folly”. It is a noun, and it generally means a lack of good sense, understanding, or foresight or an act or instance of foolishness or a costly undertaking having an absurd or ruinous outcome.

We have all done it. I have done it. My mentor Milan Somborac says he has made every mistake known to the investor and I think I am not far behind him. Thankfully, I could afford to make most of those mistakes, but one was darn near the end of my financial well-being. I escaped with dignity because I used foresight to know to get out.

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Dr. Milan Somborac

The Monday Morning Millionaire Program supports do-it-yourself (DIY) investors which I have been for over 50 years. About my team and me