One of the nice things about my job is that I get to go to Las Vegas fairly often. I really like Las Vegas. It has a dynamic atmosphere that exudes energy and merrymaking. Indeed, it's a perpetual carnival.

I don't gamble much when I'm in Vegas, so why do I like being there? First of all, I enjoy talking stocks, demonstrating VectorVest and meeting with our customers at The MoneyShow. Beyond that, I enjoy seeing the sights and going to great restaurants and shows. Actually, I wonder about the throngs of people coursing around the place who feel they must gamble to have fun. Not that I don't like a good poker game, but gambling isn't that much fun for me. It leaves too much to chance.

My dear wife loves to play the slots. I find them terribly boring. The problem is that I just can't just sit there, push a button and see what happens. I have to be involved in the outcome. Yes, I would be somewhat involved in a game of blackjack or poker, but that's still not good enough. I like playing the stock market where I can buy and sell whatever stocks or options I want, whenever I want. With stocks I can plan strategies for getting in and out of trades and decide ahead of time how much I want to put at risk. I can even use options to hedge my risk if I wish. I like the control I have over my portfolio and I just don't have to depend on luck so much to make money in stocks.

Several years ago, I wrote a pamphlet called "The Guide to Worry-Free Investing." In it I said, "You don't have to take major risks to make a lot of money in the market. Does that sound impossible? Not if you learn to minimize downside risk, spread it and limit it. The way to minimize downside risk is to buy high VST-Vector "B" rated stocks with RS values above 1.00. The way to spread risk is to diversify, diversify, diversify. Diversify in what you buy and when you buy. Do not put more than 10% of your funds into one stock. Do not own more than two stocks in the same industry. Do not plunge into the market all at once. Spread your investments over time. The way to limit risk is to use Stop-Prices. Once a Stop-Sell Price has gone above your purchase price, you should not lose money on that stock."

To these little gems, I could add that you should not buy stocks going down in price and do not buy stocks in a down market. There are many more things you can do, but you get the idea. With stocks, you can Make Your Own Luck.