Money and Finance
- Revisiting “moneyball” With Paul Depodesta
Have you ever been surprised by a player who outperformed his statistical profile? Oh, yeah. A main part of our reasoning is to put ourselves in a position to get lucky. With the amount of competition there is in the industry, it’s hard to put together...
- Inside Warren Buffett's Private Poker Game
Found via the Corner of Berkshire and Fairfax. Warren Buffett is a famously world-class bridge player, putting in 12 hours a week at the table, often with Bill Gates, and sponsoring the Buffett Cup, which mimics golf’s Ryder Cup, except with cards....
- Evolution: A Game Of Chance
One of the toughest concepts to grasp about evolution is its lack of direction. Take the classic image of the evolution of man, from knuckle-walking ape to strong, smart hunter: We view this as the natural progression of life. Truth is, there was no guarantee...
- Steven Crist: Publisher And Columnist, Daily Racing Form
I am here to talk about why most of what you have heard about horse racing is wrong, and why horse racing is much more similar to what you do than other forms of gambling. The general public probably thinks that for the most part, horse racing is just...
- Mark Sellers: Rational Investors Should Rejoice
Two months ago in my Financial Times column, I listed some of the things I have learnt about the stock market over the years. I likened the market to a game of online poker, with anonymous opponents and continuously evolving probabilities. I received...
Money and Finance
A big deal: Poker is getting younger, cleverer, duller and much, much richer
At the highest level, decisions about betting, bluffing and folding are based on the complex juggling of probabilities. “What drew me to poker is that it is essentially an academic endeavour,” says Ms Duke. She is one of a growing group of full-time players who came to poker through game theory and mathematics, not through any love of a flutter. (Indeed, she never plays craps or roulette.) Others include Mr Lederer (her brother) and Mr Ferguson, who has a doctorate in computer science and writes academic papers on probability theory with his father, a statistician at UCLA.
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Thomas Bihl, winner of a recent HORSE tournament, in which players have to show mastery of five different styles of poker, thinks the game has more in common with finance than it does with basic forms of gambling, because it requires the constant pricing and repricing of risk. Mr Bihl, a former stock trader, says the move from his old job into poker was a natural progression. Though his £71,000 win was “a huge lift”, he says that he is motivated not by money but by the chance to use his brain to outfox opponents. This is a common refrain among regular players. As Ms Coren put it in a recent article: “Cash is nothing more than chips, just the tools of the trade, like fishing rods to an angler. The game is all about money, and nothing to do with money.”
Thomas Bihl, winner of a recent HORSE tournament, in which players have to show mastery of five different styles of poker, thinks the game has more in common with finance than it does with basic forms of gambling, because it requires the constant pricing and repricing of risk. Mr Bihl, a former stock trader, says the move from his old job into poker was a natural progression. Though his £71,000 win was “a huge lift”, he says that he is motivated not by money but by the chance to use his brain to outfox opponents. This is a common refrain among regular players. As Ms Coren put it in a recent article: “Cash is nothing more than chips, just the tools of the trade, like fishing rods to an angler. The game is all about money, and nothing to do with money.”
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Books:
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Doyle Brunson's Super System: A Course in Power Poker
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No Limit Hold 'em: Theory and Practice
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The Theory of Poker
- Revisiting “moneyball” With Paul Depodesta
Have you ever been surprised by a player who outperformed his statistical profile? Oh, yeah. A main part of our reasoning is to put ourselves in a position to get lucky. With the amount of competition there is in the industry, it’s hard to put together...
- Inside Warren Buffett's Private Poker Game
Found via the Corner of Berkshire and Fairfax. Warren Buffett is a famously world-class bridge player, putting in 12 hours a week at the table, often with Bill Gates, and sponsoring the Buffett Cup, which mimics golf’s Ryder Cup, except with cards....
- Evolution: A Game Of Chance
One of the toughest concepts to grasp about evolution is its lack of direction. Take the classic image of the evolution of man, from knuckle-walking ape to strong, smart hunter: We view this as the natural progression of life. Truth is, there was no guarantee...
- Steven Crist: Publisher And Columnist, Daily Racing Form
I am here to talk about why most of what you have heard about horse racing is wrong, and why horse racing is much more similar to what you do than other forms of gambling. The general public probably thinks that for the most part, horse racing is just...
- Mark Sellers: Rational Investors Should Rejoice
Two months ago in my Financial Times column, I listed some of the things I have learnt about the stock market over the years. I likened the market to a game of online poker, with anonymous opponents and continuously evolving probabilities. I received...