Prominent fund manager and CEO of Janus Capital, Bill Gross, stated in his monthly investment outlook that in the attempt to boost economic growth central banks have turned financial markets into a casino. As central banks are printing money at unprecedented rates and are effectively trying to fight debt with more debt, Gross is comparing their actions to deploying the Martingale strategy in a casino.
Central Banks Apply Martingale Strategy
The Martingale betting strategy is based on doubling up your bet every time you lose on a (near) even odds game. Provided there are no betting limits and that the gambler has unlimited funds, by doubling up every time the gambler loses, the gambler will eventually win back all losses and, thereby, win in the long run. In reality, of course, this system does not work. No
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