Owning Mahoney

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Owning Mahoney

Post  Max on Sat Dec 04, 2010 11:31 am

Most of the best movies that give lessons about investing relate to fraud. Don't ask me why.

This is the story of a Canadian Banker who stole more than $2M (I think, could have been higher) to fund his gambling addiction. The best lesson of the movie was while Mahoney is on a winning streak, and is up $1M or so, and all the rest of the casino is panicking, the casino manager calmly tells everyone to wait until the end of the night. Trusting in the house odds and law of averages, the casino manager proves right in the end. You can't win if you keep playing a game with a losing edge. Even if you win, the addiction to keep playing will cause you to lose. I also like the conclusion where he is arrested for "theft over $5,000".

Max
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