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How do you guys deal with this?....Intraday trading = gambling

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New Orleans, La (Mardi Gras City)
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KatieD View Post
How do you guys deal with this?....Intraday trading = gambling

I used to get this question a lot.
Mostly from my business associates.
But not much anymore...

The reason is because of the way I handled the question:

One day at lunch, the head of the company was sitting at my table at lunch.
The table had 12 of the top people in the company.
This was in February when in the last 12 months, the S&P was down about +45%.

After lunch, the question came from the president toward me.
"I hear you are a trader. In my opinion, that is nothing but gambling."

This was my reply:
"Yes I am a trader. But may I ask you a question?"
"I know you have corporate 401K."
"Can you tell me how much profit your 401K made in the last year?"

He said.
"I really don't know, I don't follow it that closely."

I said.
"Let me tell you how much... Your 401K is down 47% in the last 12 months"
"However, my trading / gambling account is up 28% during that same period."
"So if trading is gambling, I would rather be a gambler."

After that, no one in the company has ever said my trading was gambling.
(and no, I did not loose my job)

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