Thursday, July 1, 2010

Hold Em Or Fold Em

The best poker game is to play with thoughts, not cards.

DB - The Vagabond
One day my sister went to visit some friends who had moved to Las Vegas. Neither my sister nor they were gamblers, but while she was there they gave her a tour of some of the casinos. When she came back home she said that the gamblers were clearly not enjoying themselves because none of them were smiling. I suggested it was because they were concentrating very hard. They were keeping a lot of information in mind and weighing wagers against the probabilistic and assets against possible winnings. I also pointed out that when my sister was engaged in serious thought about something she wasn't smiling either.

I, also, am not a gambler even though I have enjoyed investing money now and then in a small business with four legs, a head at one end and a tail at the other, with a small person sitting on it. as it runs around an oval. And, though few would believe it, I made a profit on my investments. How come?

A professional gambler doesn't wager the rent or the babies milk money, but is very conservative about how he manages his assets. And in any game he reduces the element of chance to the lowest possible denominator. A poker player will weigh the odds of drawing the card he needs against the cost of staying in the game and the size of the pot if he wins. If the pot isn't large enough though he may win it that time he could end up losing his money by the law of diminishing returns. He carefully measures all the options before he pushes a chip across the table. A gambler may be intuitive and instinctive, but he is not impulsive.

Now imagine what sort of results may be achieved by that same unsmiling concentration in regard to the major issues of life, especially when it is in relationship to the opinions of others. Ideas, thoughts and facts line themselves up on all sides of a decision. One has to consider what's on the table in relationship to what has not yet been dealt. When, at last, all the unpredictable possibilities have been considered, the odds for making the correct decision are favorable for one tactic or another, when the risks have been reduced to a minimum and there is room for the intuition to grasp a sense of certainty, the thinker can move forward or stay put.

I prefer to play the game on my own life's table with the strength of my own thoughts and not with a handful of cards.

(This is not a contest.)

Who are the 2 (two) most important people alive today? Why?

4 responses so far.

Thank you.


Rose said...

I'm not a gambler either. When I was working I would prefer to go to the Mall and come back with an item I will see the next day instead of throwing my hard earned dollars out the window for entertainment.

I recall they made a movie once about gamblers......they love to lose because going back to try and win back your losses is their excitment.............wish I could remember the name of the movie. What's his name "Sonny" that was in the Godfather was the star in the much for my memory! LOL

Bucko (a.k.a., Ken) said...

It is all a matter of risk threshold. When we gamble, we only play at $5 dollar tables. When I invest, it is only $200-$300 per month. As you said, it has to be something that you can afford to lose.

Liz said...

Life is the biggest gamble any of us is given by the Wheel of Time.
How we deal with the cards and throw ourselves after the dice is a bet that only a fool takes, as the wise man waits for the odds to be in his favour.