01/08/2026
We had a fun family poker night recently - I taught the kids how to play Texas Hold 'Em.
It was fun watching their personalities come out through their play. One was aggressive, betting every hand, both winning and losing big. The other was more conservative, waiting until he had solid starting cards before betting, and was quick to fold if he felt overmatched.
I get a lot of comments from people who say the stock market is just a casino, and investing in the stock market is gambling.
It can be, depending on how you go about it. But, based on data pulled from Morgan Stanley's Global Investment Office, over the last 99 years, there were 26 years when the S&P 500 finished with a negative return; 73 years when the stock market provided positive returns.
If I put together a good investment strategy, hold it for the long term while making minor adjustments along the way, chances are high I will grow my original investment.
Not that it means the ride will be smooth - sometimes my investment is down in value, sometimes it is up big. Kind of like swings in a poker game.
But if I put a good, broadly diversified investment strategy in place, a strategy where I am comfortable with the periodic ups and downs, and I give the strategy enough time, I will make money. It's not gambling, it's investing.
Now, whether you go all in, or pick the best time to invest, that's up to you. But all things being equal, the time to invest is when one has the money to invest. After all, with a long enough time frame, your investment will surely grow.
