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The Daily Sam: March Madness—A Missed Investment Opportunity?

This year I decided not to invest $20 in the March Madness pool here at HarperCollins, where I work. In light of the tough economic conditions and the erosion of my 401k, I thought it was wiser to invest my money in the jar on top of our home refrigerator. Also, I work for Rupert Murdoch, and I want you to know, Rupert, that I am not spending my precious work hours paying attention to the incredibly exciting NCAA basketball championship.

But now I’m wondering if I made a mistake. My colleague Bjorn Bakkstad is currently in third place in the HarperCollins March Madness pool standings. If I had played this year, I would have simply done what I did last year—borrow Bjorn’s sheet and copy his picks. I’m no fool—Bjorn is better at this than I am. Had I done that, I would stand to win hundreds of dollars on my $20 investment. Compare that to the Dow (another one of Rupert’s properties). The moral? Gambling is good.

Comments
4 Comment count
Comment Bubble Tip

An idea.

Take your $20 and by lotto tickets. It's up to $90 million, you know. Of course, chances would have been better with March Madness, but you still could have lost the $20, too. Which means that, because you still have it when you could have lost it, you may now consider it "found money" to spend it on something silly like the lottery.

See?

Comment Bubble Tip

Yes!

I have to gamble to save! Or I could get lunch.

Comment Bubble Tip

On your gambling post

Patricia Volonakis Davis

Gambling is absolutely all any of us are doing at any given time. take the 20 bucks and go out for 2 regular coffees and one small side of pancakes, plus tip. You'll have to borrow a dollar to pay for your purchase, though.

Comment Bubble Tip

Actually . . .

That sounds like more fun than gambling. I like eating more.