Gambler Archetype

May 23, 2014 — 6 Comments

Risk is part of life. The gambler is excited by risk and winning against odds.  This bold, sometimes foolish attitude toward taking risks lands the gambler in trouble.  Betting on companies or new technology can result in very good returns for the confident intuitive investor.  It can also backfire as quickly as a casino game.  Each of us has a unique profile for risky behavior/spending/investing/loyalties.  We may be suspicious of the stock market and decide to collect coins, precious metals, or guns.  We might like to see our assets in the bank earning a little interest.  We may believe that real estate makes us secure, although recent events have shown how volatile real property investments can be.  The truth is that nobody knows what the future will bring.  A well-adjusted approach to gambling is needed to moderate stress.  We can neither gamble away our life savings without consequence, nor can we find a way to be 100% immune to losses.

When circumstances are completely out of your control, as in our recent banking crisis, freaking out will only add to the strain.  Cutting losses is a concept we need to use in life, but we normally learn it by enduring some difficult losses while clinging to some delusion.  The shadow gambler has developed a risk taking addiction, not necessarily in a casino or game setting.  A strong compulsion to take risks will eventually create a personality nobody can trust.  The danger exists in the loss of control over various types of greed.  Politicians risk their reputations on a regular basis.  Money, status, and freedom are at stake.  Do you have a relationship with a gambler?  How is your own relationship with risk?