real talk...and the 99% vs 1%

[The_Worlds_finest]

http://i.imgur.com/NGCIW.jpg

I look at this graph and set a goal to be in that top 1%. What about you?

[ElNono]

If you don't make it, you only have yourself to blame, tbh

[Th'Pusher]

I look at your response to the graph and think you're a moron because you're never going to be in the top 1%. You probably play the lotto too, huh?

[greyforest]

http://upload.wikimedia.org/wikipedia/commons/5/59/Gini_Coefficient_World_CIA_Report_2009-1.png

[The_Worlds_finest]

Yeah i play the lotto when its over 100million, (which happens maybe 10 times a year). My reasoning is (and this might go over your head). its the only way you can turn 1 dollar into 100 million. ill even do the thinking for you,
Lets say i play the rest of my life spending say. 20 bucks a year for the rest of my life, that's $1000. Sure the odds are against me to never win the jackpot. however investing 1000 over the course of my life to possibly win 100-150 million isn't a bad investment at all.

[Drachen]

Yeah i play the lotto when its over 100million, (which happens maybe 10 times a year). My reasoning is (and this might go over your head). its the only way you can turn 1 dollar into 100 million. ill even do the thinking for you,
Lets say i play the rest of my life spending say. 20 bucks a year for the rest of my life, that's $1000. Sure the odds are against me to never win the jackpot. however investing 1000 over the course of my life to possibly win 100-150 million isn't a bad investment at all.

except it is. I ran the numbers in one of my finance classes last year and the expected payoff of a 1 dollar ticket is about 75 cents (when the lotto is 325 million). Now if the emotional thrill is worth more than 25 cents per ticket, then it is absolutely a good deal. (My numbers may be a little off since it was a year ago, but they are close)

Edit: I won't make fun of you though. I have bought a lottery ticket twice in my life (when it reaches 350 million it is hard to resist).

[Th'Pusher]

Yeah i play the lotto when its over 100million, (which happens maybe 10 times a year). My reasoning is (and this might go over your head). its the only way you can turn 1 dollar into 100 million. ill even do the thinking for you,
Lets say i play the rest of my life spending say. 20 bucks a year for the rest of my life, that's $1000. Sure the odds are against me to never win the jackpot. however investing 1000 over the course of my life to possibly win 100-150 million isn't a bad investment at all.

Delusional.

[LnGrrrR]

except it is. I ran the numbers in one of my finance classes last year and the expected payoff of a 1 dollar ticket is about 75 cents (when the lotto is 325 million). Now if the emotional thrill is worth more than 25 cents per ticket, then it is absolutely a good deal. (My numbers may be a little off since it was a year ago, but they are close)

Edit: I won't make fun of you though. I have bought a lottery ticket twice in my life (when it reaches 350 million it is hard to resist).

Reminds me of the Lottery Ticket Paradox.

[The_Worlds_finest]

except it is. I ran the numbers in one of my finance classes last year and the expected payoff of a 1 dollar ticket is about 75 cents (when the lotto is 325 million). Now if the emotional thrill is worth more than 25 cents per ticket, then it is absolutely a good deal. (My numbers may be a little off since it was a year ago, but they are close)

Edit: I won't make fun of you though. I have bought a lottery ticket twice in my life (when it reaches 350 million it is hard to resist).

Drachen, im sorry make fun of me? okay so if its not 100 its 50 big whoop again a fairly good return on 1 dollar. Now my turn to "make fun of you" what investment has better odds of turning 1 dollar into 50-100 million? Even the 1000 dollar life time investment.

[ElNono]

except it is. I ran the numbers in one of my finance classes last year and the expected payoff of a 1 dollar ticket is about 75 cents (when the lotto is 325 million). Now if the emotional thrill is worth more than 25 cents per ticket, then it is absolutely a good deal. (My numbers may be a little off since it was a year ago, but they are close)

I'd like to see the math behind this, tbh. And yes, I understand that your chances of hitting the jackpot approach zero very rapidly. I also wouldn't consider it an 'investment', just a 'gamble'.

[Cry Havoc]

I'd like to see the math behind this, tbh. And yes, I understand that your chances of hitting the jackpot approach zero very rapidly. I also wouldn't consider it an 'investment', just a 'gamble'.

I hit a 3,000,000 to 1 sweepstakes. It happens. Just not often. :lol

[MannyIsGod]

Yeah i play the lotto when its over 100million, (which happens maybe 10 times a year). My reasoning is (and this might go over your head). its the only way you can turn 1 dollar into 100 million. ill even do the thinking for you,
Lets say i play the rest of my life spending say. 20 bucks a year for the rest of my life, that's $1000. Sure the odds are against me to never win the jackpot. however investing 1000 over the course of my life to possibly win 100-150 million isn't a bad investment at all.

Its a terrible investment. You fail at statistics. Your ROI of that 1000 is shitty as hell compared to the money you would get by investing it.

[MannyIsGod]

I'd like to see the math behind this, tbh. And yes, I understand that your chances of hitting the jackpot approach zero very rapidly. I also wouldn't consider it an 'investment', just a 'gamble'.

Powerball odds are 1 in 195,249,054 so if you diveded your 1000 dollars by that your ROI is 5.12 x 10^-4 cents. Yes, your ROI is not even one fucking cent. In fact, its much lower than one cent. Even at a paltry compounded interest rate I know a 20 a dollar annual investment will go much further.

Winning the smaller prizes actually raises your ROI but I'm pretty sure that splitting the main prize also lowers it and there's a chance of that happening as well and because I'm not in the mood to calculate all that only to have it be far lower than one cent still I'll just leave it at that.

[ElNono]

Powerball odds are 1 in 195,249,054 so if you diveded your 1000 dollars by that your ROI is 5.12 x 10^-4 cents. Yes, your ROI is not even one fucking cent. In fact, its much lower than one cent. Even at a paltry compounded interest rate I know a 20 a dollar annual investment will go much further.

Winning the smaller prizes actually raises your ROI but I'm pretty sure that splitting the main prize also lowers it and there's a chance of that happening as well and because I'm not in the mood to calculate all that only to have it be far lower than one cent still I'll just leave it at that.

He didn't talk about ROI, he talked about "expected payoff of a 1 dollar ticket is about 75 cents". I understand what the odds are, and it's exactly why it's a gamble, not an investment. The point, however, is that sometimes somebody does hit. If there's an expected payoff, then that would imply an expected win. If you're circumscribing to winners, then you already did away with the odds of winning, you won. That's why I was curious to see the breakdown. Not saying I'm not wrong or got the wrong idea from what he typed there.

[MannyIsGod]

I missed what Drachen said which is my fault considering you were replying to him.

Assuming the jackpot was 325 million - like he said - if you bought all the tickets you'd make money but depending on the tax situation (can you write off your initial expense? If not you're going to lose money after the Tax Man comes in) but at this point I don't care enough. I can't look at these situations outside of my previous poker history anymore. Also ,because of I simply think of a gamble as a bad investment.

[baseline bum]

http://upload.wikimedia.org/wikipedia/commons/5/59/Gini_Coefficient_World_CIA_Report_2009-1.png

We have some great company there in Mexico, China, and Argentina. :lol

[ElNono]

I missed what Drachen said which is my fault considering you were replying to him.

Assuming the jackpot was 325 million - like he said - if you bought all the tickets you'd make money but depending on the tax situation (can you write off your initial expense? If not you're going to lose money after the Tax Man comes in) but at this point I don't care enough. I can't look at these situations outside of my previous poker history anymore. Also ,because of I simply think of a gamble as a bad investment.

Well, this is where academia departs from reality or, at least, the premise presented earlier ($20/year)... we agree it's a gamble

[DUNCANownsKOBE]

The OP is someone who is too stupid to ever sniff the top 1%. Probably doesn't have any post HS education and probably doesn't have any clue how to reach the top 1% (:lmao lottery), but just says he'll strive to be in the top 1% with nothing really behind it.

[DUNCANownsKOBE]

And lottery jackpots are paid as an annuity, the present value of what you actually get isn't anywhere close to the jackpot number. When someone in Arizona won the $300,000,000 jackpot a few years ago I think the lump sum he could take was around $90,000,000.

[Gordon Gekko]

A real man creates his own luck.

[Agloco]

I look at this graph and set a goal to be in that top 1%. What about you?

What's your plan?


If you don't make it, you only have yourself to blame, tbh

:lol

- Signed Hermann Cain


And lottery jackpots are paid as an annuity, the present value of what you actually get isn't anywhere close to the jackpot number. When someone in Arizona won the $300,000,000 jackpot a few years ago I think the lump sum he could take was around $90,000,000.

It's still 90 mil more than you had before. If I was ever that lucky, I'd walk away and never look back, even if I only got 10 million.

[MannyIsGod]

Man life would be pretty damn good if I won 90 million. I'd fund my own research! :lol

[DUNCANownsKOBE]

My point was that using the actual jackpot number to calculate ROI on the lottery tickets the OP seriously thinks were a good investment isn't accurate.

[Agloco]

Man life would be pretty damn good if I won 90 million. I'd fund my own research! :lol

Seriously. Although I'd have to take care not to end up like this guy:

http://gizmodo.com/5826876/man-gets-arrested-before-he-can-pull-off-his-kitchen-nuclear-reactor

[Agloco]

My point was that using the actual jackpot number to calculate ROI on the lottery tickets the OP seriously thinks were a good investment isn't accurate.

Yeah, my bad. I jumped into it late.

[scott]

Edited because I remembered I don't care

[Agloco]

Edited because I remembered I don't care

:lol

[The_Worlds_finest]

Yes any investment with a return of the lotto is a gamble, but again there is no investment that isn't a gamble that can return what a lotto can in the time it can.(return vs risk right Scott). Mega Return vs the risk of 1 dollar, and only played when the advertised jackpot is over 100 million.


As for my idea of how to join the 1%?
Obviously; provide a product or service that ideally the entire world would demand and afford, with minimal manufacturer cost while gaining maximum potential profit from sales...

[ElNono]

Obviously; provide a product or service that ideally the entire world would demand and afford, with minimal manufacturer cost while gaining maximum potential profit from sales...

Or a lot of influential contacts sending government contracts your way...

[The_Worlds_finest]

The OP is someone who is too stupid to ever sniff the top 1%. Probably doesn't have any post HS education and probably doesn't have any clue how to reach the top 1% (:lmao lottery), but just says he'll strive to be in the top 1% with nothing really behind it.

LOL there are tons of people who have only a highschool degree and roll in cash.

Obviously fuck stick, im not in the 1%, closer to the 15%. And trust me dumbass if i had a multi-million dollar idea i wouldnt broadcast it on a message board...

[Wild Cobra]

Yep. If Thornton Melon can do it, anyone can.

[The_Worlds_finest]

Thornton is a badass...he is the 1%

[The_Worlds_finest]

I give you the 99%
uE2M7g_IWSE

[Wild Cobra]

Thornton is a badass...he is the 1%
For those with Netflix via internet, this is a great movie:

Back To School (http://movies.netflix.com/WiMovie/Back_to_School/60029360?trkid=2361637)

[Wild Cobra]

I give you the 99%
uE2M7g_IWSE
The Maoist in the beginning is a fricking joke. At least the hippie has some insight.

[DUNCANownsKOBE]

LOL there are tons of people who have only a highschool degree and roll in cash.
You not being one of them.

[DUNCANownsKOBE]

Yep. If Thornton Melon can do it, anyone can.
:lmao seriously? That's your example of an uneducated dumbass becoming rich? A fictional character in a Rodney Dangerfield movie?

[baseline bum]

:lmao seriously? That's your example of an uneducated dumbass becoming rich? A fictional character in a Rodney Dangerfield movie?

No more of a fantasy than WC's trickle-down economic religion tbh.

[DUNCANownsKOBE]

lol trickle down economics
lol Herman Cain still believing in it

[The_Worlds_finest]

:lmao seriously? That's your example of an uneducated dumbass becoming rich? A fictional character in a Rodney Dangerfield movie?

That is not all there is;

Richard Rich also
Montgomery "Monty" Brewster also
Billy Ray Valentine also
Jed Clampett also

Don't you have some stupid statement to write up whining that you cant pay your student loan debt of $xxx,xxx because you majored in art/music appreciation/history, and that you will never achieve the american dream blaming the horrible 1%, and not because of your own short comings?

[The_Worlds_finest]

http://26.media.tumblr.com/tumblr_lt365j5c9t1r25y9yo1_500.jpg
http://29.media.tumblr.com/tumblr_lt1ccf9wgy1r25y9yo1_500.jpg
http://www.tumblr.com/photo/1280/11421999433/1/tumblr_lt19beifm61r25y9y

[The_Worlds_finest]

http://www.tumblr.com/photo/1280/11317874761/1/tumblr_lswiu82AGc1r25y9y

is this a joke? Dok this you?

[Stringer_Bell]

^ that kid's mom spends all her money on kind bud, look at that boy's eyes!

[PublicOption]

http://www.slu.edu/Images/sluma/solidarity-logo.jpg

[DUNCANownsKOBE]

:lmao, pointing out this guy's stupidity/lack of education really bothered him

[The_Worlds_finest]

lol to resorting to name calling....btw ive got a degree ....that is actually worth owning. :rollin

[boutons_deux]

Protesters Reflect Vast Majority on 99 Percent of Most Major Issues

The Occupy Wall Street movement that has spread to scores of cities claims to represent “the 99 percent.” Do they? Ninety-nine percent is perhaps too high a bar for public opinion. But the movement does represent the vast majority – who theoretically should be an important constituency in a democracy. And on many issues, they really do represent the interests of the 99 percent.


The 99 percent have no interest in our hundreds of military bases and wars across the globe, another life-and-death point of difference with the one percent that decides, and defends, our rotten and murderous foreign policy. No wonder U.S. veterans of our ongoing wars have played a prominent role in these protests. The majority of Americans want our troops to get out of Afghanistan [PDF], which our government refuses to order. Two-thirds think the U.S. military should never have invaded Iraq, and even greater majorities have agreed that all troops should be withdrawn from that country this year. These are points of great controversy among the one percent, but not among the vast majority of Americans.

Meanwhile, the Congressional “Supercommittee” was considering cutting Social Security, an assault that has no public support, while resisting raising taxes on the one percent and cutting military spending – two of the most popular choices among the people for long-term deficit reduction.

http://www.cepr.net/index.php/op-eds-&-columns/op-eds-&-columns/protesters-reflect-vast-majority-on-99-percent-of-most-major-issues?utm_source=CEPR+feedburner&utm_medium=feed&utm_campaign=Feed%3A+cepr+%28CEPR%29&utm_content=Google+Reader