One way or another, it all comes down to odds. Unless you can find some way to get the odds in your favor, trading, like any other 50/50 game with a cost to play (commissions and execution slippage in this case), will eventually be a losing proposition. Sperandeo has taken the definition of odds to an actuarial-like extreme. Just as insurance companies guarantee that the odds are in their favor by classifying policyholders according to risk, Sperandeo categorizes the stock market by risk.
