Sunday, January 20, 2013

Poker and Investing

It is not a long story, but an un-interesting one so I will not say how I got to think of poker and investing. The idea is that I had 2 colleagues that were good at poker and good investors as well. They still have their day jobs and even if they don’t laugh all the way to the bank they at least smile while I cry.

And I am not good at poker, they cleaned me out when I was playing with them.

So is there any connection between investing and poker? Apparently there is.
When typing ‘poker and investin’ Google suggests: ‘poker and investing’ - 6,090,000 results and ‘poker and investing go hand-in-hand’ - 19,700,000 results, wow!

Warren Buffett: “If you've been playing poker for half an hour and you still don't know who the patsy is, you're the patsy.

Not shy about his bridge skills, Buffett is very self-effacing about his poker prowess. “You will find me about five minutes after the tournament starts on the sidelines–knocked out as usual in the first round,” he e-mailed me before the tournament. He later explained the difference between the two card games this way: “I just don’t care about poker as much.” Temperamentally this makes sense. Buffett’s favored holding period for his positions is “forever”; poker demands immediate exploiting or discarding. Traders make great poker players; investors, less so.

Also an article from Business Insider The 13 Poker Concepts That Every Investor Needs To Know

Yes, I know 13 seems a good number, not 7 or 10 or 15 or even 20 (overused these numbers) but 13 :).

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