HPIL Holdings (HPIL)

[marylandstockguy]

I had a friend very similar to this who thought he could just make $500 a day, or thereabouts, every day in Vegas for a living.

It's absurd. The law of averages simply don't work that way. You're going to have days you lose $5,000, when you keep trying to get back to even and make that $500 a day. It's just a very stupid comment on this guy's part, and it's a dangerous one. It's how people lose their shirts.

There's a ton of day trading involved in securing profits day in and day out, you're paying huge commissions, high taxes, and so on. The odds that you'll average $500 a day for life are just silly - how much do you have to make BEFORE taxes to earn $500 a day, and so on.

Boy he makes it sound so easy doesn't he? How about when there are recessions and the market goes down 700 points in a day - easy to make $500 on those days huh?