It's basically the same thing?
But then again there's a lot that doesn't make sense, at all...
Why r JWs allowed to buy/trade with stocks when lottery is forbidden?
by Newborn 15 Replies latest jw friends
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unclebruce
g'day Newborn,
The difference is that the Watchtower Bible and Tract Society doesn't buy lottery tickets but it has many millions (possibly billions) invested in the stock market.
cheers,
unclebruce
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Newborn
Unclebruce
Of course
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BurnTheShips
It's basically the same thing?
No, it isn't. When you buy a stock, you are buying an ownership share in a company, no different than buying anything else. People usually buy things in expectation of some kind of gain, often monetary (but not always). A lottery is the wagering of money based on chance.
BTS
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Newborn
Burntheships
It's the same thing in the sense that it's a gamble, you'll never know if you'll actually gain money on the stocks or not. It can either go up or down.
To me it's a lottery.
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sir82
The reason I heard was something like this:
With a lottery ticket, the only way for you to win is for someone else to lose. Your winnings are based solely on the misfortune of others. Plus, the desire to win without any personal effort reflects greed.
With stocks, you are investing in another company's business. They are providing a useful service to society, and in turn gain a profit. If you invest in the company, you enable them to provide whatever goods or services they are in the business of, thus benefitting society as a whole. Your gain is not necessarily directly due to the loss of someone else. Plus returns and dividends on stocks are not a "get-rich-quick" scheme - you aren't displaying a greedy attitude by wanting a million dollars tomorrow, you are content to settle for 7-10% (or whatever) per year over the long term.
I realize there are holes in this explanation - it's just what I remember reading.
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BurnTheShips
It's the same thing in the sense that it's a gamble, you'll never know if you'll actually gain money on the stocks or not. It can either go up or down.
To me it's a lottery.
There is risk in any transaction, not just stocks. Some assets are riskier than others. It's not the same as a lottery.
BTS
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blondie
Here is the WTS explanation (just reporting not supporting):
*** g01 6/8 p. 30 From Our Readers ***I disagree with the assertion that investing in the stock market is not putting one’s trust in "the god of Good Luck." (Isaiah 65:11) Putting one’s money into a volatile system that operates entirely at random is gambling.
P. B., United States Admittedly,
investing in the stock market can carry a high degree of risk. And, as with any business venture, random factors are involved. However, it would not be accurate to say that trading stocks is gambling. Gambling involves the exchange of money without any exchange of real goods . A stock, however, represents an actual share in the ownership of a business. Trading stocks can thus be viewed as the buying and selling of legitimate goods.—ED.*** g00 10/8 p. 27 Is It Wise to Invest in the Stock Market? ***
A Corporate Lottery?
In view of the risks associated with the stock market, is buying stock the same as gambling? A measure of risk is involved in nearly all financial investments. Some people buy real estate, not knowing if the value of a property will increase or decrease over time. Others deposit their money in a bank, trusting that their savings will be secure. While the stock market is more complicated, simply put, one who invests in stocks buys the shares of a company in the hope that the enterprise will prosper and the stocks will increase in value.
Such an investment differs from gambling because the stockholder has purchased part of a company. These shares may be sold to another person or saved in the hope of future growth. This cannot be said of a person who bets money at a casino or on a game of chance. Against the odds, the gambler seeks to predict an uncertain outcome and win the loser or losers’ stakes.
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CaptainSchmideo
With a lottery ticket, the only way for you to win is for someone else to lose.
Unfortunately, in the past decade, this same maxim seems to apply to the stock market. Just ask the victims of Enron, Tyco, MCI, and Bernie Madoff, to name just a few.
Personally, I'm about to invest my money in canned goods and shotguns.
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Seeker4
If you think buying stocks in a company carries the same odds for success or failure as buying a lottery ticket, you don't have much of an understanding of our economic system! As the current situation for most stocks shows, there can be serious downturns and people can certainly lose a lot of money. BUT, overall, historically the market has MADE money over every decade. While your odds of buying a winning lottery ticket are perhaps millions to 1 against, the odds of making money over the long term from investing in a good mutual fund, say, are very much in your favor. Personally, I don't slight the WTS at all for allowing members to invest their money. Also, how do you get paragraphs on this new website, using a G4 Mac with Safari??? S4