Several years ago, while doing research for a school project, a group of MIT students realized that, for a few days every three months or so, the most reliably lucrative lottery game in the country was Massachusetts' Cash WinFall, because of a quirk in the way a jackpot was broken down into smaller prizes if there was no big winner. The math whizzes quickly discovered that buying about $100,000 in Cash WinFall tickets on those days would virtually guarantee success. Buying $600,000 worth of tickets would bring a 15%–20% return on investment, according to the New York Daily News.
When the jackpot rose to $2 million, the students bought in, dividing the prize money among group members. But they didn't stop there; they were so successful in their caper that they were eventually able to quit their day jobs and bring in investors to front the money they needed to purchase the requisite number of lottery tickets.
(Score: 1, Offtopic) by MichaelDavidCrawford on Tuesday June 09 2015, @07:15AM
I could easily get that kind of work as I have quite a lot of good experience, but for the specific reasons you state, I came to regard it as immoral.
For quite a long time, I've been debating this with kuro5hin's procrasti, who is a financial professional. Every time I come up with what I regard as a good reason for not being involved with the markets, he regards that as a positive trait.
For example other than the IPO I don't see how the stock market does any real good for society, nor for public companies. Consider that a trader could hold your stock for mere milliseconds, but if you don't kowtow to him during that brief instant, he could shitcan your company's board.
Yes I Have No Bananas. [gofundme.com]
(Score: 2, Insightful) by istartedi on Tuesday June 09 2015, @08:04AM
That's interesting. IPOs in their current form are probably one of the things I like least about markets. They're just exit strategies for the real winners, dumping crap on the public. I'd like to see rule changes that require them to IPO earlier. I'll give you this though--the reverse IPO is often worse. That's when private equity buys a public company and forces holders of common to accept a tender offer. A lot of times those shares are weak and won't come back for a long time; but still--you're being forced to realize a loss by PEs who circle like vultures. That's one reason to stick with large caps and indexes, although it's still possible for these things to dissolve and force you to take your cash back at inopportune times, it's far less likely than with individual small/mid cap stocks.
Appended to the end of comments you post. Max: 120 chars.
(Score: 5, Insightful) by jimshatt on Tuesday June 09 2015, @11:10AM
(Score: 0) by Anonymous Coward on Tuesday June 09 2015, @08:17PM
You're better than me, I've stopped reading his comments.
(Score: 0) by Anonymous Coward on Tuesday June 09 2015, @10:47PM
MDC is the single reason I wish for a soylent equivalent of the usenet killfile. Some posters anger me for their opinions, but his posts are just such an annoying combination of prolificity and narcissim that his actual opinions don't even matter. If it weren't for him I could start reading a post without having to think about checking the name of the author first, such a time-waster.
(Score: 0) by Anonymous Coward on Tuesday June 09 2015, @11:41PM
I inspired myself to fix the problem.
If anyone else would prefer an explicit warning of MDC content before reading it, here's a quick and dirty way to do it:
(1) Install FoxReplace [mozilla.org] add-on.
(2) Turn on Auto-replace on page load from the Tools->FoxReplace menu
(3) Add the following filter:
Name: MDC Remover
URL: *soylnetnews.org*
Substitution:
HTML: Input & Output
RE (regular expression)
Replace: (MichaelDavidCrawford \(2339\)[^]*?<div id="comment_body_\d+">)([^]*?)</div>
With: $1MDC Warning:<br><div style="background-color:white;color:white;">$2</div></div>
That will cause the text of his posts to be rendered as white on white - you can still read them if you highlight it with your mouse.
(Score: 0) by Anonymous Coward on Wednesday June 10 2015, @03:55AM
Add MDC to your Foes list. In your account preferences set the Foe mod to -6. Read at a threshold of 0 or higher. Voila, no more MDC comments!
(Score: 0) by Anonymous Coward on Wednesday June 10 2015, @04:04AM
I use the Foes list to keep track of people who I think are dumbasses that way I can judge what they write - if they should or should not get the benefit of the doubt when they post something that sounds kinda stupid. So I can't make it do double-duty as a killfile.