This seems a little bossy to me. Beyond the issue of transaction costs (“the vig”) and the effort of gathering the information to try to beat the market (this would an intellectual hobby, like blogging, doing crosswords, or following the horses, that would make sense to do if enjoyable in itself), maybe some people don’t want to bet. I have no problem with betting—I enjoy it—but I’m a little puzzled by the statement that people should be betting, or that they have some sort of moral obligation to put their money where their mouth is. Maybe you personally don’t “really believe” things unless you put money on them, but not everybody feels that way.
This seems a little bossy to me. Beyond the issue of transaction costs (“the vig”) and the effort of gathering the information to try to beat the market (this would an intellectual hobby, like blogging, doing crosswords, or following the horses, that would make sense to do if enjoyable in itself), maybe some people don’t want to bet. I have no problem with betting—I enjoy it—but I’m a little puzzled by the statement that people should be betting, or that they have some sort of moral obligation to put their money where their mouth is. Maybe you personally don’t “really believe” things unless you put money on them, but not everybody feels that way.