Summary
What is the difference between a banker and a gambler?
One difference has been time - the expected time for a return on investment. In olden times (the 1950s), if you asked a banker how things were going, he might say something like this: "Our bank has made a 7percent return on investment for the last five years, and we expect to do that well for the next five years."See the full content of this document
Extract
Gambling with Our Futures
If you asked a gambler, back then, how he was doing, he might answer, "Yesterday I picked a horse to win, which paid 20-to-1 odds, and I have a hot tip on a winner for tomorrow."
The banker's ...See the full content of this document
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