Comments for TexasHoldemInvesting.com

Comment on Garry Kasparov – Poker is better than chess to learn about taking risks by Walter

Walter — Fri, 05 Feb 2010 05:07:50 +0000

One important element which makes poker a game of unpredictability is the psychological factor which Kasparov has mentioned. Indeed, psychology plays a vital role in the outcome of the game. It prevents others from making an exact response because they are not sure what they are seeing. And thus, risk is essential.

Comment on Kiplinger – Texas Holdem Helps Your Investing – But Don’t Play “Free” Poker by MaskedFinancier

MaskedFinancier — Sun, 17 Jan 2010 02:59:54 +0000

DJ,
Thanks for the comment.
It is true that being a good investor can help poker-playing.
I have written about this already on the side in the article entitled “David Einhorn – Hedge Fund Titan then Poker Champion – Texas Holdem Investing in Reverse” – http://bit.ly/jjOyv.
However, I think it is easier to go start with poker and then move to investing because poker’s more limited “game space” allows you to focus more on the basic principles that will ensure successful investing – risk management, emotional management, and probabilistic thinking.
I would appreciate your thoughts on this.
John (aka The Masked Financier)

Comment on Kiplinger – Texas Holdem Helps Your Investing – But Don’t Play “Free” Poker by MaskedFinancier

MaskedFinancier — Sun, 17 Jan 2010 02:56:31 +0000

Bob,
Thanks for the comment, and again congratulations on an excellent series of articles on the poker-investing connection.
I must admit that I’m still not entirely sure on the accuracy of “studies” that are conducted in a controlled environment, because it really does depend on the extent to which the experiment simulates reality.
Keep up the good work,
John

Comment on Kiplinger – Texas Holdem Helps Your Investing – But Don’t Play “Free” Poker by dj

dj — Wed, 13 Jan 2010 21:05:20 +0000

no,it’s the other way around….investing will help you poker game

Comment on Kiplinger – Texas Holdem Helps Your Investing – But Don’t Play “Free” Poker by Bob Frick

Bob Frick — Tue, 12 Jan 2010 17:28:49 +0000

And excellent summary of my stories, Masked. And I understand that you’ll learn better with skin in the game. When I play for money, the learning is certainly more painful and pleasurable. I do think, though, having read many many academic studies based on gambling scenarios with no money involved, that you can generate the same biases/glitches with no money involved. Then again, what fun is that?

Comment on Kiplinger – Texas Holdem Helps Your Investing – But Don’t Play “Free” Poker by Tuesday links: short suffering Abnormal Returns

Tuesday links: short suffering Abnormal Returns — Tue, 12 Jan 2010 17:22:48 +0000

[...] “Free poker” and paper trading can only take you so far in your development. (Texas Hold’em Investing) [...]

Comment on David Einhorn – Hedge Fund Titan then Poker Champion – Texas Holdem Investing in Reverse by DaveinHackensack

DaveinHackensack — Sat, 02 Jan 2010 08:25:14 +0000

Einhorn's an impressive guy. Didn't stop me from profitablyshorting one of his stocks last year.

Comment on Hedge Fund Managers & Poker – Texas Holdem Hedgies (guest post at MarketFolly) by MaskedFinancier

MaskedFinancier — Wed, 09 Dec 2009 01:44:15 +0000

Martin,
Thanks for the feedback and for the Chapter 13 suggestion.
However, I already have Chapter 13 written (it will be up soon) but I certainly agree that the outlier concept is an important one in both investing and poker.
I always quote the statistic that says if you missed the top 10 return days in the stock market over a decade it can seriously reduce your overall performance. Similarly, with trading and poker, those few bets that result in outsized gains can have a huge upside effect on your capital.
I look forward to a mutual exchange of ideas going forward.
John

Comment on Hedge Fund Managers & Poker – Texas Holdem Hedgies (guest post at MarketFolly) by Martin

Martin — Wed, 09 Dec 2009 01:24:50 +0000

John, great blog. I just glanced through your table of contents, good stuff in here. If you need a suggestion for chapter 13 I would expand on the concept of outliers. As Howard Lederer mentioned in the post and as many no limit players know, it’s not about how many pots you win, it’s about how big the size of the pot is when you win. In my heads up tourneys at lower limit tables I can see the same thing. You may lose/fold many hands but all you ever lose are the blinds. Then when you hits the flop and you hit two pair you can make a game changing bet if your opponent has top pair and stays in the hand. Same in trading. When you know that this is your kind of market you need to seize the opportunity and raise the stakes and milk it for whatever it is worth. You’ll have a lot of good material on your blog, I’m looking forward to reading it all. Best wishes.

Comment on Dr. Bob Rotella, Golf, (Sport) and (Texas Holdem) Investing – Part 1 (of 2) by randolph

randolph — Sun, 15 Nov 2009 23:13:01 +0000

Spot on, although golf can throw up pressure cooker situations, one poor shot cannot wipe out you entire net wealth. In fact golf is probably an excellent example of a call option.