SumGames.com - Why I Created This Web Site
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About SumGames.com

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Blackjack

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     Simply stated, there is way too much speculating and gambling masquerading as investing. There are plenty of wealthy and super wealthy people and organizations that can afford to gamble and lose some of their wealth, or share it with their so-called investment professionals, yet they still should understand what they are doing and be given the opportunity to keep more of their wealth. For the average person that needs to save and invest appropriately to live in peace and achieve their financial goals, this can be a critical discussion. Hopefully this web site will help some people minimize their costs, reduce their risk, increase their wealth, and avoid some common mistakes.

     I am an investment advisor, which is one of many professions that tends to rely heavily on analytical skills. But before I got established in the investment business, I had the opportunity to learn about and experience the gambling industry in a unique way. I've always been intrigued by casino games and living in Los Angeles, Las Vegas is a short trip that I enjoy making and have made plenty of times. Plus, I also own a number of web sites. While there have been many books, papers, etc., that have discussed the relationships between gaming and investing, I haven't come across a web site that cleanly identifies and summarizes the relationships and takes advantage of the wonderful functionality of the internet.

     After graduating college and quitting my first few professional jobs, while searching for the right position in the investment business, one of the things I did to make some money was working as a "Pit Boss" for an entertainment company at fundraisers and other parties. I've never been a dealer or Pit Boss at a real casino, but part of my job in addition to managing the events was standing in for the Blackjack, Roulette, and Craps dealers on their breaks. I've never felt the urge to gamble in casinos, largely because I know the odds, probabilities, and the house advantage (and I like to keep the money I have rather than risk it without being adequately compensated).

     The investment industry generally treats the term "gambling" as taboo, but that hasn't prevented gambling terminology from being used often in the media. Yet outside of the academic community, not much attention seems to be focused on the distinction between gambling and investing. Plenty of influential investment professionals and writers have been troubled by that lack of clarity and I'm in that camp. Yet, as you'll see on this web site, investing and speculating/gambling have more in common than many in the business would like their clients to believe.

     I actually wrote much of the material for this web site and related research more than a decade ago, but I didn't have the time and the motivation to finish it until recently, plus some of my recent experience have enhanced my knowledge in the fields. Research by Professor French (and others) over the last few years also filled in a critical gap. I hope you enjoy the site and use it to maximize both your profits and your entertainment should you decide to venture into the speculative and gambling worlds. Fell free to email me with comments or if you'd like to chat about investing.

 

 

 

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Gary Karz, CFA
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