What's the difference between what

you're doing in gambling? Cuz when it

comes to options, you could be right

about the stock and just a little off on

the timing, and that means you're wrong

overall.

>> I I hate the gambling analogy because

gambling means so many things to so many

different people. Again, it all starts

with what your objectives are and what

your risk tolerance is. And on top of

that, you have to understand that I do

excessive amounts of probability

analysis. So, I essentially run through

every theoretical scenario on that trade

that could happen that I'm aware of. I

look through every scenario, good and

bad. I make an assessment on how likely

each scenario is to play out based on

actual research. In this case, over 100

hours of deep research [music] in

Amazon. You're playing probabilities.

So, I guess theoretically, everything in

life is a gamble if you want to look at

it like that. I mean, walking outside

your door is a gamble because there's a

theoretical possibility you could trip

and die, right? That's why I hate the

analogy. It's not like investing versus

gambling. It's like, do you understand

the risk you're taking?