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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.

4 Comment count
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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.


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

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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.

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Actually . . .

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