For many, investing is no longer a patient process of diligent research. Fewer people are investing to own a part of a business. Instead, people are investing for big money. The millionaire mania that has hit American game shows is just an extension of our stock market obsession. Just look at the new home of the NASDAQ in the middle of Time Square. It acutally looks like Vegas now. The lights, glitter and prospects of big easy money. Either pick the next big internet company or grow your own IPO. Type in the ticker and pull the lever. This entire phenomenon is typified by a March 8 announcement that Jackpot Enterprises Inc. (NYSE:J), one of Nevada's biggest slot machine operators, would be transforming itself into an Internet investment company and setting up a $100 million Web fund. Wait - it gets better. After the announcement, of course, Jackpot's stock started climbing. It opened 50% above the previous day's close and got so out of control that the stock had to be halted for a while. Vegas has figured out that the big money is now on Wall Street. So I guess now we just need cocktail waitresses handing out drinks on the exchange floor to liquor up the investors. And maybe an all-you-can-eat buffet coupon with each trade.
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