Dr.Dimitri Vulis KOTM wrote:

paul@fatmans.demon.co.uk writes:

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Like Insurance? By purchasing insurance you are in effect betting that you _will_ have an accident that does more damage than you have paid in premiums.

Really contorted huh?

Hmm, I hadn`t thought of that, this is an interesting way to see AP: Taking out a life insurance policy on someone else...

But of course - entities that sell insurance/write options refer to their business as "making bets" and that's exactly what it is.

By the way a lot of people in the finance industry are compulsive gamblers who lose tremendous amounts of money on horses, sports events, Atlantic City, etc.

I have a feeling that thay also lose tremendous amounts of money in their finance jobs. The good news is that it is usually not their own money. - Igor.