I don&#x27;t see why his theory would treat stock investing differently. Trading in public would still be harder than doing it through your computer.<p>The expected value of trading stocks is at least slightly positive. If you invest totally randomly, you will, <i>on average</i>, win more money than you lose. You still lose money in fees and stuff though. But you are at least starting from a positive sum game with a positive expected value.<p>Gambling is the exact opposite. It&#x27;s all a zero sum game. For everyone that wins something, someone else is losing something. <i>At best</i> it&#x27;s exactly break even.