If you play long enough in Las Vegas you will eventually lose. The odds are stacked against you. In the stock market the opposite is true. Stock prices are based on corporate earnings and over time corporate earnings go up. Historically they have increased approximately 7% per year over ten-year or more periods. The amount […]
Gambling
Luck Runs Out for Macau’s Casinos
After years of light-speed growth, gambling in Macau is finally taking a breather. This is the first year ever that gambling revenue in the Chinese territory has fallen, and the slowdown has been significant. October, the fifth straight month of dwindling business, was the worst decline in history. And the stock prices of Macau’s big […]
