Pat Holland – Red Joker Rules

Name: Pat Holland - Red Joker Rules
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Pat Holland – Red Joker Rules

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Pat Holland – Red Joker Rules

Description

“Gambling is investing, and investing is gambling,” says the Red Joker.
Both situations begin with a common pool of money. The pool is distributed among those who have created it on the basis of a series of events that are partly controllable. Through a mixture of skills, self-control and sheer luck, some of those who have created it will receive more than others.
There is no inherent difference between sifting through a horse’s prospects of winning a race and a company’s prospects of returning regular profits. There is no inherent difference in deciding whether to raise the betting on a particular hand of cards and deciding whether a property is a good or bad buy.
But there is a world of difference between the pace of gambling and the pace of investing. A gambler faces as many investment situations in a week as an investor does in a lifetime. The rules are the same, but the gambler is in a situation where he can learn the rules very quickly.
This is a book of advice from the gambler to the investor – The Red Joker Rules.

From the Inside Flap

“Gambling is investing, and investing is gambling,” says the Red Joker.

Both situations begin with a common pool of money. The pool is distributed among those who have created it on the basis of a series of events that are partly controllable. Through a mixture of skills, self-control, and sheer luck, some of those who have created it will receive more than others.

There is no inherent difference between sifting through a horse’s prospects of winning a race and a company’s prospects of returning regular profits. There is no inherent difference in deciding whether to raise the betting on a particular hand of cards and deciding whether a property is a good or bad buy.

But there is a world of difference between the pace of gambling and the pace of investing. A gambler faces as many investment situations in a week as an investor does in a lifetime. The rules are the same, but the gambler is in a situation where he can learn the rules quickly.

This book is a book of advice from the gambler to the investor – The Red Joker Rules.

About the Author

Pat Holland, B.Sc. has been a maths teacher and a recreational gambler for most of his life. Today he works as a freelance writer and takes an interest in the world of investment. He has long been interested in the common links between the principles of gambling and those of investment, and has been gathering the material for this book for many years. Pat Holland is married with three grown-up children, and is the author of three previous books and several thousand articles.