Woman Wins Lottery 4 Times; Are Lottery AND Market Rigged?
Some days you just feel like luck is on your side, right?
The market is up!
You've green lights all the way to work!
Your favorite song is on the radio!
The weather is beautiful!
Today is great!
It may sound all great, but to Joan Ginther, that's just everyday for her, or at least that's we are to believe...
Ginther, a 63 year-old from Texas is called the luckiest woman in the world. And for good reason...
She has won multi-million dollar lottery payouts FOUR times!
From the Daily Mail,
First, she won $5.4 million, then a decade later, she won $2 million, then two years later $3 million and finally, in the spring of 2008, she hit a $10 million jackpot.
The odds of this has been calculated at one in eighteen septillion and luck like this could only come once every quadrillion years.
Just the news you need to hear when the markets over the past two weeks have been dismal, with billions of dollars lost, right?
But like anything this good, people are skeptical and rightfully so. Everyone wants luck on their side, especially four times over. And when you aren't the one gwtting lucky, you're going to be dubious...
There are claims that this former math professor with a PhD from Standford University specializing in statistics has been using her knowledge of numbers to beat the system.
Several experts have been asked about this so-called phenomenon and one professor at the University of Nevada, Reno in the Institute for the Study of Gambling & Commercial Gaming was quoted saying, “When something this unlikely happens in a casino, you arrest 'em first and ask questions later.”
So is the lottery system rigged? Where else have we asked this question before? Oh yes, the stock market. The comparison is not new: that investing in the market is just like playing the lottery.
It's actually quite scary how similar this sounds to all of the issues about the Wall Street insider trading investigation and the Madoff scandal last year.
From the AP,
"A large part of trading has to do with trust, and I don't have it," says Mark Swenson, a 43-year-old plumber from New Hampshire who refuses to buy individual stocks. "When a stock moves up 10 percent, you don't know why," he added. "We can pretend that everyone has access to the same information, but they don't."
Even before news broke that federal investigators were looking into whether hedge funds traded on inside information, small-time investors were pulling their money out of stocks — despite a remarkable run for the market since the spring of 2009.
"If the stock markets had any reputation for integrity, they lost it in the past year," says finance professor at Manhattan College Charles Geisst. Even though the Securities and Exchange Commission was established in 1934 and several other safeguards were implied to protect the little guy from being overrun by the large corporations, it still seems that we have every right to question the legitimacy of the market.
Ginther's strong knowledge of numbers, buying the scratch-offs from the same shop every time, and having an understanding of the algorithm of that determines where a winner is placed in each run of tickets are said to be how she won the lottery four times.
So what makes us believe that insiders in the market don't have those same kinds of advantages that the everyday investor does not?
I'm not saying stop investing and start buying more lottery tickets, but I'm sure multi-millionaire Joan Ginther is one of the few people laughing all the way to bank this week.+1
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