Betting on the Home Team
Brian's Journal, October 29, 1998
I was having a conversation with one of my Penn State buddies in D.C. when we got to talking about investments. We were discussing the volatility in today's market and the "safe" places to invest your money -- mutual funds, CDs, stocks, bonds, real estate -- so many choices. We talked of evaluating risks and returns, cautious and aggressive strategies, buying, selling, and holding.
The conversation continued until both of our heads were reeling with information. We took a break and decided to talk about the upcoming Penn State football game and the Yankees World Series victory (I hate to admit it, but men's conversations seem to turn to sports when we're tired of thinking about other things, but that's a topic for another day). Anyway, my friend was telling me about his friend who was, for all practical purposes, a "professional gambler" by trade. His friend actually made a living betting on sporting events.
That led me to ask the question -- what does the gambler invest in? The answer was... nothing. The gambler was weary of the stock market because in his mind, "it wasn't safe." "Go with what you know" was his motto.
It's funny how each of us judge risk. Many have said that Chris and I took a big gamble to step out of the mainstream. To me, it's been an investment in myself with a return that no IRA or 401K plan could come close to matching. I guess it comes down to going with what you know. For me, I'm betting on myself (and Penn State at home on Saturday).
© Brian Ardinger, 1998
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