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Most of you have probably heard about the current wall street situation regarding  GameStop (GME) and other stocks which were bid up to unbelievable and unrealistic price levels by many retail                       
    ( unintelligent money ) mostly young stock traders who banded together using social media like Reddit and the RobinHood trading platform, and created a trading mob which bid up the stocks in an attempt to create a short squeeze in order to destroy the professional hedge fund traders ( smart money ) who had shorted the stocks.

This resulted in numerous hedge funds  losing billions of dollars ( see the article below ) who had to cover their short positions at higher stock prices.....and also lost over 50 % of their trading capital and needed a cash infusion of $ 2 billion to stay solvent.

What has all of this to do with gambling speculation such as baccarat, roulette, sports betting, Blackjack poker   etc etc etc?

Well, the lesson is to set a conservative % of bankroll which you are prepared to lose for any baccarat shoe, set of roulette spins, poker session, individual bet on any sports event,  etc etc  or you can end up like the hedge fund in the article below which lost 53% of its trading capital on one trade and would have gone out of business if it could not have received the $ 2 billion cash infusion.

I think this is the most important lesson any speculator in gambling or investing should learn. 

You can't continue to play the game if you lose most of  your trading capital or gambling bankroll if you lose most of it in a very unwise single bet or gambling session


https://www.livemint.com/companies/news/melvin-capital-lost-53-in-january-hurt-by-gamestop-other-bets-11612114259391.html