A strategy requires skill and a knowledge of probability.
Comparing investment professionals to a drunk tourist at a Vegas craps table may be a cute laugh for the audience, but it's an inaccurate and misleading description.
I take it you are an “investment professional”.
Well guess what, all you do is bet. Because in reality, nobody knows what is going to happen. The stock market is just a casino with better odds than the ones in Vegas.
“Comparing investment professionals to a drunk tourist at a Vegas craps table may be a cute laugh for the audience, but it’s an inaccurate and misleading description.”
Have you ever heard of professional gamblers? They most certainly weigh the odds. Ultimately, neither investors nor gamblers can see the future.
That's not what the comparison was. I used to trade options, and I've worked with people who trade commodities and indexes -- they themselves say they are "putting a bet" on the market.
And I also know professional gamblers. They don't drink on the job.
And I've known investment professional to go out for a liquid lunch.