Richard Lustig claims to be a seven time grand prize lottery winner and has written a book, Learn How to Increase Your Chances of Winning the Lottery. But Steve’s not buying it, so he interviews Richard, and then talks about distinguishing between fact and fantasy in investing, why public companies are both good and bad, and how banks should actually be regulated.
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Steven Spierer, 6/9/121 comment to Steven Spierer, 6/9/12Leave a ReplyYou must be logged in to post a comment. |
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That Richard Lustig interview was a bit embarrassing. I respect Lustig for trying to make an honest buck and good for him for winning all that money. But his secret formula for lotto success isn’t that complex and it really isn’t that hard to understand. It boils down to looking up past lottery results and picking out numbers that come up often and singling out numbers that haven’t appeared in a while, which would be due, so the theory goes.
The problem is it’ll take an investment of several thousand dollars. And even if your numbers come up you have to put them in the right order. You can see where the problem lies. If you’re willing to spend thousands of dollars you’re either well off like Lustig or a schmo who’s 100% sure he or she is going to win it. But even with Lustig’s “secret” plan (which is actually widely available on lottery strategy Web sites) Lustig himself hasn’t won a big jackpot. Sure, winning 800k is no small amount of money, but when I think of winning the lottery I think 20, 30, 40 million dollars. Some I-can-do-whatever-the-hell-I-want money.
It’s ultimately a game of chance, even with a strategy and the lottery should be treated as such. In short, don’t quit your job just yet.