Odds and payoffs are inextricably linked together. They are versions of the same concept seen from a different point of view and, along with probabilities, they are the mathematical backbone of games of chance and gambling. They are also a wonderfully simple lead-in to the much more complex world of markets and finance where the preferred term for payoffs is returns.
The first important concept in any gambling establishment is the house take. Read more
Twenty or so years from now, we may all look back and call these times ‘The Gold Rush of the 21st Century’.
There has never been a time in our short country’s history (as compared to the history of Gold) that the greatest amount of transfer of wealth from the US Dollar (or any currency for that matter) to the ‘Almighty King of Gold’.
Over the past ten years smart money investors have been quietly buying and holding as much Gold as they financially can afford. Read more