More success for Bob Dancer losing $21,000.

[Alan Mendelson]

Alan,

To put this as bluntly as possible, you know as much about winning gambling as I know about making infomercials. You really have no business telling someone who has won for years what they are doing wrong in terms of money outlay. It's semi-ridiculous.

I'm not talking about gambling and winning. I'm talking about financial planning and being a smart consumer. Before I went into the infomercial and advertising business, I was a financial reporter and well known for my financial advice reporting which included articles in Barron's and New York Magazine and my reporting did win several major awards including those from various consumer protection groups and the Mortgage Bankers Association. But that's not the issue here. The issue is Arc's comments about his source of gambling money.

Now Arc further confuses the issue. He writes: "I don't use any of my retirement account for living expenses. I have other sources of income."

Oh, I get it now. He has other sources of income for living expenses, and his retirement account is for gambling? Huh? Is that it, Arc?? So now we have a guy who plays 25-cent and $1 video poker, has a six-figure net income playing those games, never has an annual loss over the last seven or eight years, is retired but has other sources of income for living expenses, and doesn't use his retirement account for living expenses but uses it for gambling. Okay, I give up.