MYTH-4. INVESTING IS LIKE GAMBLING
· The reality is that investing is not gambling unless someone is reckless enough.
· Actually, investment is a process-driven approach, which also mixes discipline, intelligence and experience.
· Unlike in gambling, where the participants win or lose in minutes or hours, investment is a long-term process that can extend for decades.
· In investing, the longer you stay the course, the better your chance of growing your money and creating wealth.
· This is very far from what happens in gambling, where playing for long years does not guarantee a jackpot.
· When one invests for a long duration, and in a systematic way, the person actually eliminates a lot of risks that are associated with investing.
· Also, in investing, the power of compounding takes over to create wealth for you.
· In gambling, money is made and lost in minutes and chances of creating wealth are at best 50-50.