4. The Investment Game Isn’t Rigged, But...

John Nash: “In competitive behavior, someone always loses.”

Charles: “Well, my niece knows that, John, and she’s about this high.”

—From the Academy Award-winning best picture A Beautiful Mind (2001)

Without a doubt, investing in the market is a competitive undertaking. When you lose sight of this fact, you put your portfolio at great risk. For every buyer, there is a seller. And many in the markets believe for that very reason that the markets always have a winner and a loser. Some market pundits think this view is a bit cynical—but not the authors of this book. Buy and Hedge believes that the markets can be very unforgiving to the unprepared.

Wall Street firms spend billions of dollars on the technology ...

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