The Difference Between the Lottery and Wall Street

Yesterday, I wrote an article about a deceptive shift of language from “income inequality” to “income inequity.” In it, I quoted Barack Obama, who recently claimed that hedge fund investors were the “nation’s lottery winners.” I think his dismissive assessment deserves another look, since it represents the attitude so many Americans have toward the wealthy. So how is the lottery different from Wall Street? First, success at the lottery is a matter of pure chance. Success investing Read more […]