Is my profession a turn off?

[Trialbyfire]

It's also hilarious to hear how "good life decisions and fiscal responsibility" somehow guarantee wealth TBF doesn't appear to realise she's just been living through a decade long economic boom. People who are "fiscally responsible" are watching their savings being pillaged by low interest rates for bank bailouts right now. People who went and got degrees that guaranteed them jobs in a boom economy are now sitting on a lot of debt and frustrated by it all. I think sometimes one has to acknowledge luck comes into it rather than claiming there's a set path to untold riches.

What's sincerely laughable is someone who uses the word "guaranteed" in conjunction with gambling!

[sunshinegirl]

This thread is getting really annoying and is really off-topic from the OP. It's been amply established that several people on this thread have differing opinions. Fine. Can we move on?

 

kahn2154, did you get enough ideas about addressing the social isolation/anxiety aspect of your situation?

[Trialbyfire]

Why do people have to act so cool just because they have a typical, boring office job? Investing in the stock market is a gamble, too.. and no one has anything bad to say about that!

Straight up, too many people, with too little knowledge, are investing these days. It's ruined the market.

[Citizen Drawn]

What's sincerely laughable is someone who uses the word "guaranteed" in conjunction with gambling!

 

It's interesting how you take these two words out of context and put them together to make a puerile point. My original point about "guaranteed" is that mathematically the odds are guaranteed over the long term in favour of the superior player. This is the same as a bookmakers or casinos odds, you cannot beat the house. I could explain this in depth but it's really simple, a poor player will push his money in with a mathematical disadvantage. Now this is the basis of poker, you are not going against the house you are going against other players, so in that sense if you are a stronger player the odds are skewed in your favour. To stamp your foot again, take my points out of context, and ignore the fact that even high profile academics are arguing for poker to be branded as a skill game (as with golf) just shows you up to be rather immature. Either open your ears and listen or make a proper argument against poker being a game where the odds are skewed in favour of the strong game.

[tanbark813]

What's sincerely laughable is someone who uses the word "guaranteed" in conjunction with gambling!

 

That's not laughable at all. If you play a game with a 50% chance of winning (purely chance), then over a long period of time you're guaranteed to win half the time.

 

It's not laughable, it's a mathematical fact. I would think someone with a background in investing would at least have an elementary understanding of statistics.

[Trialbyfire]

That's not laughable at all. If you play a game with a 50% chance of winning (purely chance), then over a long period of time you're guaranteed to win half the time.

 

It's not laughable, it's a mathematical fact. I would think someone with a background in investing would at least have an elementary understanding of statistics.

There's a lot more to poker, than just statistics. It's a game of bluff. Fold or not, bet or not, what's your bet. You cannot force that into a set pattern, each and every time, considering the malleable aspects.

 

You two can argue until you're blue in the face, but it's gambling, as defined by the law.

 

This just gets more funny, as the thread goes on.

[kahn2154]

I think this side argument answered my question

 

Oh, and for those of you that keep saying I will lose all my money and blow my brains out over and over again, OUTSIDE of my bankroll (meaning money that will never go to poker again) I have about 170K saved up in stocks/treasury funds/sep ira/savings. For my age, coming from nothing I think that's enough to pave the way for my future.75+26+

[Citizen Drawn]

There's a lot more to poker, than just statistics. It's a game of bluff. Fold or not, bet or not, what's your bet. You cannot force that into a set pattern, each and every time, considering the malleable aspects.

You two can argue until you're blue in the face, but it's gambling, as defined by the law.

 

This just gets more funny, as the thread goes on.

 

Indeed, however in spite of all these moves and factors nash-equilibrium has been use to devise long term winning strategies at the highest level by researchers at the University of Alberta, clearly demonstrating it's a skill game

I guess it would take a change in the law to stop you from making this puerile point over and over as your only line of defence to an argument you've decided to make up from an opinion plucked out of thin air rather than fact though. *shrug*

[kahn2154]

I think this side argument answered my question

 

Oh, and for those of you that keep saying I will lose all my money and blow my brains out over and over again, OUTSIDE of my bankroll (meaning money that will never go to poker again) I have about 170K saved up in stocks/treasury funds/sep ira/savings. For my age, coming from nothing I think that's enough to pave the way for my future.75+26+

 

I have lost more in the stock market (which is deemed respectable profession to be in) than I will ever lose in poker

 

(too late to edit)

[Trialbyfire]

I think this side argument answered my question

 

Oh, and for those of you that keep saying I will lose all my money and blow my brains out over and over again, OUTSIDE of my bankroll (meaning money that will never go to poker again) I have about 170K saved up in stocks/treasury funds/sep ira/savings. For my age, coming from nothing I think that's enough to pave the way for my future.75+26+

How old are you?

[39388]

That's not laughable at all. If you play a game with a 50% chance of winning (purely chance), then over a long period of time you're guaranteed to win half the time.

 

It's not laughable, it's a mathematical fact. I would think someone with a background in investing would at least have an elementary understanding of statistics.

Almost guaranteed.

 

If you can make the odds of winning 50.1% and you play ten million times, the probability of making money is about 1 - 1/10000000000000000.

 

Much easier theoretically than in reality, especially if the rules (and therefore odds) keep changing.

[kahn2154]

How old are you?

 

23 (filler)

[39388]

Almost guaranteed.

 

If you can make the odds of winning 50.1% and you play ten million times, the probability of making money is about 1 - 1/10000000000000000.

 

Much easier theoretically than in reality, especially if the rules (and therefore odds) keep changing.

Ugh, I meant to say only 1 - 1/10000000000. Can't type worth a darmn.

[Trialbyfire]

I have lost more in the stock market (which is deemed respectable profession to be in) than I will ever lose in poker

 

(too late to edit)

That's why I said earlier, that there are too many people investing, who shouldn't be.

 

23 (filler)

So, how long will $170K last you, if you don't make any more income?

[Citizen Drawn]

23 (filler)

 

Congrats, most people your age are 40-50LK in debt. However, they appear to be "fiscally responsible" because they might become an EVP one day

 

I would ignore the fickle people that can't see past the stigma, as far as I'm concerned you're doing well.

[tanbark813]

There's a lot more to poker, than just statistics. It's a game of bluff. Fold or not, bet or not, what's your bet. You cannot force that into a set pattern, each and every time, considering the malleable aspects.

 

I never said you could. I was proving the use of the word "guaranteed" has a place in this thread.

 

And going by your posts I'm sure I've played much more poker than you have and understand a lot more about the game.

 

You also cannot force a career or life that guarantees you will never be in the poor house. There is always risk.

 

You two can argue until you're blue in the face, but it's gambling, as defined by the law.

 

Not true. California, for example, distinguishes between gambling and poker. Typical casino games like roulette, slots, blackjack, etc... are illegal (with the exception of Indian casinos) but there are plenty of poker rooms which are perfectly legal.

 

This just gets more funny, as the thread goes on.

 

That it does.

[Trialbyfire]

Congrats, most people your age are 40-50LK in debt. However, they appear to be "fiscally responsible" because they might become an EVP one day

 

I would ignore the fickle people that can't see past the stigma, as far as I'm concerned you're doing well.

More short-term thinking...from the guaranteed gambling member!

 

As for $40 - 50K, really? You're presupposing again. Long-term thinking when you pick the right career and press forwards.

[Citizen Drawn]

More short-term thinking...from the guaranteed gambling member!

 

As for $40 - 50K, really? You're presupposing again. Long-term thinking when you pick the right career and press forwards.

 

Actually, I'm not, those are stats from AMSA on graduate debt. And dear TBF you seemingly haven't noticed the world economy is up the creek without a paddle, so it's hardly time to have a noose around your neck, however long term your thinking.

 

While we're on the subject on presupposition, I don't think there's any reports of online poker players blowing their brains out.

 

The kids obviously a well studied poker player doing well. If he was a fish with a pipedream I'd discourage it - but I do believe this one has a good future here.

[kahn2154]

That's why I said earlier, that there are too many people investing, who shouldn't be.

 

Um, are you implying that most people are too dumb to invest or are you one of those people that claim investing in the stock market is stupid and a scam? I only invested in two single stocks which were both blue chippers and small investments compared to the rest of my portfolio, the rest went into ETFs with the majority into VTI, I'm not going to try and beat the market because I know I cant. If you are saying I'm dumb for losing money in the market, name someone who hasn't in the past two years.

 

So, how long will $170K last you, if you don't make any more income?

 

Heh, what a dumb question, I see since I'm a gambler even though I have a track record of being a winning player for over 4 years and millions of hands I'll still find a way to blow my current bankroll and all the money I've stashed away.

 

Well how long would your savings last for if you didn't make any income? Because last time I checked, the nation has a negatives savings rate, which means the majority of reputable 9-5ers wouldn't even have 170k to fall back on if they lost their job would be screwed considering they are living paycheck to paycheck.

 

Also, considering I don't have many expenses besides health insurance/car/etc. (the standard stuff) and no debt, and live pretty frugally it would probably last me years.

[Trialbyfire]

I never said you could. I was proving the use of the word "guaranteed" has a place in this thread.

 

And going by your posts I'm sure I've played much more poker than you have and understand a lot more about the game.

Maybe, maybe not, although I enjoy gambling but know that it's high risk, so I gamble for pleasure, knowing full well that it can be lost. I don't online gamble.

 

You also cannot force a career or life that guarantees you will never be in the poor house. There is always risk.

There's a huge risk difference and you know it. But this is dependent on solid life decisions.

Not true. California, for example, distinguishes between gambling and poker. Typical casino games like roulette, slots, blackjack, etc... are illegal (with the exception of Indian casinos) but there are plenty of poker rooms which are perfectly legal.

That would be inaccurate. Poker is classified as gambling in the State of California and is governed by the California Gambling Control commission. Nice try but an invalid argument.

http://www.cgcc.ca.gov/cardrooms.asp

[39388]

I think this side argument answered my question

 

Oh, and for those of you that keep saying I will lose all my money and blow my brains out over and over again, OUTSIDE of my bankroll (meaning money that will never go to poker again) I have about 170K saved up in stocks/treasury funds/sep ira/savings. For my age, coming from nothing I think that's enough to pave the way for my future.75+26+

You have done well so far. Just have a "plan B" in case things start not going as well in your current career. I think you know never for any reason gamble a dime of that 170k.

[Citizen Drawn]

Well how long would your savings last for if you didn't make any income? Because last time I checked, the nation has a negatives savings rate, which means the majority of reputable 9-5ers wouldn't even have 170k to fall back on if they lost their job would be screwed considering they are living paycheck to paycheck.

 

word............

[Trialbyfire]

Um, are you implying that most people are too dumb to invest or are you one of those people that claim investing in the stock market is stupid and a scam? I only invested in two single stocks which were both blue chippers and small investments compared to the rest of my portfolio, the rest went into ETFs with the majority into VTI, I'm not going to try and beat the market because I know I cant. If you are saying I'm dumb for losing money in the market, name someone who hasn't in the past two years.

I've given you my opinion about investors, in general. Make what you will of it.

Heh, what a dumb question, I see since I'm a gambler even though I have a track record of being a winning player for over 4 years and millions of hands I'll still find a way to blow my current bankroll and all the money I've stashed away.

If you don't choose to put any time into a serious career, what employment references and experience will you fall back on, when it comes time to really work?

 

Well how long would your savings last for if you didn't make any income? Because last time I checked, the nation has a negatives savings rate, which means the majority of reputable 9-5ers wouldn't even have 170k to fall back on if they lost their job would be screwed considering they are living paycheck to paycheck.

I'm set for life. That is all.

Also, considering I don't have many expenses besides health insurance/car/etc. (the standard stuff) and no debt, and live pretty frugally it would probably last me years.

So you're living at home. Once again, how long will $170K last you? Do you expect your parents to be around, for the rest of your life?

[Citizen Drawn]

If you don't choose to put any time into a serious career, what employment references and experience will you fall back on, when it comes time to really work?

 

He can buy a business with his savings if he wants.

 

Not everyone is owned by the corporate machine.

[tanbark813]

That would be inaccurate. Poker is classified as gambling in the State of California and is governed by the California Gambling Control commission. Nice try but an invalid argument.

http://www.cgcc.ca.gov/cardrooms.asp

 

Semantic arguments aside, the fact remains that poker is legal and other typical casino games are not. The main reason being the mathematics involved and who you're playing against.