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QOTD: On the Word “Bet”

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By Barry Ritholtz - June 7th, 2010, 9:15AM

Justin Mamis, author of the seminal book When to Sell, writes the following:

“We’ll try, but it is getting more and more difficult, and perhaps even too dangerous, too, to take a longer-term view as the market keeps lapsing into short-term comments and forecasts, and the word “Bet” is frequently used, as in, “How are you betting today?” from a TV interviewer or, without needing to be asked, an interviewee might define his position as “We’re betting on the upside,” or, as another example we heard recently, “The best bet today is the financials.”

Once you know the day’s activity is that they’ll be busy betting, you can’t stop hearing them, like bugs banging against the window screen.”

PERMALINK
Category: Markets, Psychology/Sentiment, Trading.

Comments

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

8 Responses to “QOTD: On the Word “Bet””

  1. Charles Maley Says:
    June 7th, 2010 at 9:40 am

    John Kenneth Galbraith once said “when it comes to the stock market there are two kinds of investors. Those who don’t know where the market is going, and those that don’t know that they don’t know where the market is going.”

    Those that have knowledge don’t predict. Those that predict don’t have knowledge – LAO TZU

    http://viewpointsofacommoditytrader.com/1507/the-last-man-standing-survivor-or-skill/

  2. Transor Z Says:
    June 7th, 2010 at 10:11 am

    IMO “your best bet” is so ingrained as an American colloquialism that I’m not sure it’s a good bet to assume people literally mean “bet” when they say “bet.” I use it all the time.

    People make a killing in the markets, too. And invest in “hedge” funds (that hedge their bets?). But the term “hedge fund” has been around for decades.

    A lot of gambling jargon is in common usage. “Longshot,” “poker face,” “tell,” “jackpot,” “let the chips fall where they may,” etc. etc. It’s because true Americans are low-class and proud of it.

  3. batmando Says:
    June 7th, 2010 at 11:38 am

    tz -
    didn’t realize gambling and/or the use of its jargon equated to low-class. not classy to take chances?

  4. Transor Z Says:
    June 7th, 2010 at 11:47 am

    As opposed to yachting or polo jargon. Or antiquing.

    I was being tongue-in-cheek, btw.

  5. batmando Says:
    June 7th, 2010 at 11:52 am

    tz -
    i was trying to be, tongue-in-cheek, not low-class. fail.

  6. Transor Z Says:
    June 7th, 2010 at 12:38 pm

    Eh… electronic communication fail. :-)

  7. philipat Says:
    June 7th, 2010 at 1:28 pm

    Risk on or off today? OK let’s trade.

    I suspect that avery important and fundamental question for millions of folks and trillions of dollars is “How to invest now in this casino environment”? Mind you, even Bill Gross was recommending selling Treasuries as they gained 5-10% over the last few months. But I guess that raises the same question. Who can you believe. Where can you invest?

    The common answer seems to be………..Gold?

  8. philipat Says:
    June 7th, 2010 at 1:40 pm

    And “A curse on all your houses”

    Shakespeare

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