Goldman Sachs is only a Crap Shoot. FDIC? Not here!

Having grown up in a Fundamentalist home in the 1950s, I was taught gambling was evil and should be avoided. Possibly avoided at any cost. But the cost has been high.

So, instead of gambling at great risk, I discreetly invested my money in IRA accounts, mutual funds, and annuities. Most of which I have over the past dozen years or so have lost money on. Lost to market crashes and bad investments. Investments that weren’t insured. No FDIC. Just MDTT(money down the tubes). Money in. Money out. Gone.

So tell me, what is the difference between investing and gambling? One is legal and the other is illegal(in some places). Both can easily turn out the same. One you call a broker and the other you call a bookie. Both has its risks. Easy come. Easy go. Absolutely no assurance of making a good investment or gamble. Just a transfer of wealth from my wallet to a bank account down in the Bahamas. Gamble you do. Gamble you lose. This is what is meant by Risk Management. Only you and I take the risk. Banks and Wall Street only show us how it’s done.