When does investing become gambling?

Is there a hard threshold? Do high risk investments such as penny stocks qualify as gambling? Do low risk investments? Annuities? Bonds? CDs?

This comment got me wondering.

Is it more to do with the venue? Stock markets and real estate vs casinos and the lottery?

Were the MIT Blackjack Team gambling or investing?

Or Jerry and Marge Selbee?

Is this just another semantic hotdogs are sandwiches discussion or is there an agreed threshold?

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@Blue_Morpho
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3•5 months ago

My challenge didn’t include inflation.

That always must be assumed. Otherwise you could claim Zimbabwe had the best return on investment over the past 20 years.

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