Fang Sanwen's Chat Record - Reading "You Are Awesome, You Earn a Lot" · Tang Qiao
You are amazing, you earn a lot.
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The text discusses insights gained from reading Fang Sanwen's book "You Are Awesome, You Earn a Lot," which presents content in the form of chat records from the investment platform Xueqiu. The author reflects on the nature of investing, particularly the similarities between stock market investing and gambling. It argues that all investments carry a gambling aspect, as investors must make decisions based on incomplete information and uncertain market movements. The text also touches on the Gambler's Ruin Problem, a mathematical concept that examines the probability of a gambler going broke, emphasizing that the odds are often against the gambler. Ultimately, it suggests that the only investment strategy devoid of gambling elements might be index investing, which simply aims to earn market returns without stock selection or timing.