Sport is made for betting

Originally written by Max Gunther, reprinted from www.bfportal.com. Initially written for financial trading, but just as relevant for sports punters and traders. On Risk: - Worry is not a sickness but a sign of health - if you are not worried, you are not risking enough. - Always play for meaningful stakes - if an amount is so small that its loss won’t make any significant difference, then it isn’t likely to bring any significant gains either. - Resist the allure of diversification. On Greed: - Always take your profit too soon. - Decide in advance what gain you want from a venture, and when you get it, get out. On Hope: - When the ship starts sinking, don’t pray. Jump. - Accept small losses cheerfully as a fact of life. Expect to experience several while awaiting a large gain. On Forecasts: - Human behaviour cannot be predicted. Distrust anyone who claims to know the future, however dimly. On Patterns: - Chaos is not dangerous until it starts to look orderly. - Beware t...