The Lopsided Bet

games

Casinos offer excitement. Gambling can result in large payoffs or large losses. However, how many of us would take a bet where the potential of loss was 86% and the potential payout was 2.5 times less than the potential loss? Contrary to what you may think, millions of taxable investors take on this sort of lopsided bet by deciding to use active managers, who pick stocks instead of broad-market index funds.

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