Source

The bookies always wins.
Quote: “Some years ago I visited Sydney’s Warwick Farm racecourse, where I had one of those great moments of realisation.

The revealing detail lay in the type of cars parked in the area reserved for bookmakers compared to the vehicles in the punters’ car park.

One parking area had more than its fair share of clapped-out old bombs while the other was full of gleaming new Porsches, Mercedes Benzes and the odd Roller.

There are no prizes for guessing which cars belonged to whom.

The extreme contrast between the cars spoke volumes about who makes most of the money at the track. ”

So what has this to do with investing?
You should be the bookie when investing. The bookie always have the odds in favour of him in the long term.