Intern Learning:Gambling & Accounting

Today I am going to share two things I learn in my internship at Interpacific

The first one is why investment without strategy is a gamble.
Provided you have no any knowledge about economics and stock markets, if you invest in any random stocks, the chance for it to rise =0.5

However there is a commission for buying and selling stocks
Everytime you buy any stocks, you need to pay
Stamp duty= 0.1% of money invest
Clearing fees= 0.03% with a ceiling of RM200
Brokerage fees:
Offline(Which means you call your brokerage firms to help you to buy or sell)
Online( You buy or sell yourself through online)
Offline brokerage= 0.6% below 100k invest(Minimum=rm40),0.3% for above 100k invest
There will be a 20% discount which is nearly 0.42% for below 100k invest(minimum=rm28)
*Trader account commission = stamp duty only = 0.03%

So there is around 0.73% of fees everytime you buy or sell a stocks
So your loss in such cost=1.46%
So your probability of winning is less than 0.5
Implying you are gambling
(The probability of picking a rising stock=0.5 is just an assumption. Since economic is generally growing , chances for stock to rise is actually>0.5 but I cant locate the data, so let's just put it simple)

Second thing is about Accounting , Let's put the following things as mathematical equations:

Tangible Asset= Total Asset-Intangible Asset
Net tangible Asset= Book value= Tangible Asset - Total Liabilities
= Total Asset- Intangible Asset-Total Liabilities
Tangible Book Value= Common Equity- Intangible Asset
Common Equity= Share capital + Additional paid in capital+ Retained earnings

So what is the difference or relation between book value & tangible book value.
I can't figure out through maths, anyone from accounting knows the answer?