In the world of Wall Street gambling, being 100 percent right about something doesn't guarantee a positive result. Money manager Whitney Tilson gained fame by declaring Netflix as an emperor with no clothes. He ran the numbers and determined that Netflix was trading at an unsustainable valuation. Expecting a crash in the share price, he began shorting the stock. Tilson started shorting when Netflix was trading around $100 per share. The stock price continued to soar, eventually reaching $300 per share. Tilson was forced to cover his short at around $240 per share. Months later, the stock finally did collapse, going down to $75 per share. Of course, the move was too late to save Tilson's hide.
It's hard for the average person to understand why rich and successful people make risky bets that easily wipe them out. Mr. Quinn built a business empire that was worth billions, and then he lost it all. Jon Corzine was well respected as a business leader, and he was well paid. He now faces a decade of lawsuits from investors, and he will be forever known as the man who destroyed MF Global.
I think the key reason there is such a pronounced gambling spirit in the world today is the lack of satisfaction that money provides. People with $100 million are not content, so they risk turning it into $200 million. Individuals with $1 billion dollars do the same thing.
The Bible strongly warns that someday everything in this world is going to be destroyed. The person who spends all day trading the market is wasting his time. Today, a rich man is someone who owns stocks and bonds. By the end of the Tribulation, the trading floors will all be deserted, and a person with a bag of rice will be viewed as wealthy. The only investment that has any lasting value is one made for the kingdom of God . As we are waiting for the passing of this world, it’s important for every believer to be seeking the Lord’s will for his or her life.
"Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal. But store up for yourselves treasures in Heaven, where moth and rust do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also" (Matthew 6:19-21 NIV).
-- Todd