A while back, Megan McArdle had what I thought was good advice - using betting as a way to hedge emotional risks. For example, I was going to be really disappointed if the health care bill passed, so I bet that its passage would occur. I am still unhappy, but I have some extra cash.
I have been buying on the dips for a while now. I predicted way back last July that it was going to pass no matter what
It is totally clear to me that Obama and Pelosi will spend any amount of money to pass their key legislative initiatives. In the case of Waxman-Markey, the marginal price per vote turned out to be about $3.5 billion. But they didn't even blink at paying this. That is why I fear that some horrible form of health care "reform" may actually pass. If it does, the marginal cost per vote may be higher, but I don't think our leaders care.