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starbucks4ever (97.42)

A shocking discovery: fool and his money are easily parted

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September 06, 2010 – Comments (3)

The only surprising thing is that the author of this article found the results surprising.  People who buy lottery tickets don't have enough IQ to use their money wisely, who would have thought? Hello, selection bias!  

http://finance.yahoo.com/retirement/article/110553/jackpot-winners-just-as-likely-to-go-bust;_ylt=Ap_VHTBBECTPiJVXMRK1M9m7YWsA;_ylu=X3oDMTFmMXRnNjdhBHBvcwM0BHNlYwNleHBlcnRPcGluaW9uRHluYW1pYwRzbGsDamFja3BvdHdpbm5l

3 Comments – Post Your Own

#1) On September 06, 2010 at 1:52 PM, lemoneater (78.89) wrote:

Thanks for the link. I'm not surprised "easy come easy go."

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#2) On September 06, 2010 at 2:33 PM, garyc27 (< 20) wrote:

At least there was a conclusion that our rulers should observe--throwing the money that they confiscate from us at those who are inept at managing their finances isn't going to fix the problem.

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#3) On September 06, 2010 at 9:55 PM, tomlongrpv (70.83) wrote:

The real question is not whether winning $100,000 or so helps much--of course it doesn't.  I'd be interested to know how things work out for winners ot $1 million on up to $10 million.

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