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Black Label Union (6)
"Zero risk... I see."
Trading securities in the stock exchange was a form of gambling.
No one could predict whether the securities someone sold would return with a fortune or not return at all, leading to a loss.
Therefore, investors faced their own risks.
However, there was no reason for the stock exchange, which facilitated the buying and selling of securities, to take on such risks.
No matter the outcome for the traders, the stock exchange only needed to collect their fees in the middle.
Ricardo spoke up, considering this.
"Although no one knows what will happen to the traded securities later on, the stock exchange won't go bankrupt as long as they collect their fees, especially if someone continues trading."
A deep smile appeared on Rockefeller's lips as he heard this.
"Wait and see. How the securities trade will be in this Black Label. As long as the transactions are made easily, my stock exchange will be packed with people who like gambling."
Do humans have a natural inclination to gamble?
Ricardo narrowed his eyes, thinking about this.
'Is it really human nature to enjoy gambling?'
Do humans truly enjoy gambling?
As these doubts grew stronger, Rockefeller stepped in to explain.
"Do you doubt that people enjoy gambling?"
"Yes... a little. I'm somewhat skeptical that people enjoy gambling so much."
"Haha, actually, people don't think of buying and selling securities in the stock exchange as gambling. There's a more sophisticated term for it."
With that, Rockefeller's smile deepened.
"It's called 'investment.'"
"Investment..."
"I assure you. Ordinary people won't think of trading securities in my stock exchange as gambling. They'll consider it a kind of investment. And isn't investment a good thing? It's a nice word for someone who naively invests and gets scolded by their spouse."
Rockefeller's teasing words continued.
"Ultimately, whether it's gambling or investing, the losses and gains are the same. So, do you know what the fundamental difference is between the two?"
"The difference?"
"Yes, I'm asking if you know the difference between the two."
"Well, the word 'investment' does sound better. Other than that..."
"Exactly. That's where people get fooled. Investment is a very appealing term. It sounds professional, and it seems qualitatively different from gamblers in casinos."
Rockefeller raised his index finger to emphasize his next point.
"But their fundamental natures are ultimately the same. Just because it's an investment doesn't mean you won't lose, and just because it's gambling doesn't mean you'll lose every time. There are still winners."
"So, in the end, they're the same?"
"Yes, that's right. But people are captivated by the word 'investment' and jump into the gambling scene themselves."
Rockefeller confidently continued.
"Who would think of the stock exchange I established as a casino?"
"..."
"Casino owners seem to be doing something bad, while the stock exchange I set up doesn't have that image. But their natures are the same. After all, the thoughts of people who come to either the casino or my stock exchange are all the same."
"They're thinking of making money."
"Exactly. They're all thinking of making money and not losing it."
Ricardo couldn't help but agree with the idea that people would be captivated by the word 'investment' and come to the stock exchange set up by Rockefeller.
Rockefeller asked Ricardo again, who remained silent.
"Do you know who really makes money in a casino? Skilled gamblers? Or gamblers with extraordinary luck on that day?"
Upon hearing Rockefeller's sudden question, Ricardo didn't have to think for long to figure out the answer.
"It seems like it would be the casino owner."
Rockefeller, still smiling, responded.
"Correct. Among the gamblers in the casino, the number of people who make money is either extremely small or non-existent. That's because they try to put in their own money and take others'. It's like a zero-sum game. What I lose is what someone else wins, and what I win is what someone else loses."
Rockefeller continued.
"But the casino owner only needs to gather those gamblers and lay out the table. Then, they'll collect their cut from there. Eventually, as time goes by, people will realize that the one who makes money in that place is the casino owner. But by then, it's already too late."
"Because they realized too late."
"Exactly. What's the point of realizing it when your pockets are empty? The casino owner's pockets are already full by then."
And the last point was the most crucial.
"In the end, if you want to make money, you shouldn't become a gambler, but rather someone like a casino owner."
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