Vegas & The Aftermath - Diary

[Longy]

Calling all-in on the bubble of WSOP when you have average chips is a DIFFERENT SITUATION than calling all-in when you have a short stack at the end of the 1st day. The maths will stay the same of course but in one scenario you HAVE to gamble and in the other you don't.

the maths are not the same in the above quote

in 1 hand you are 99.9% likely to make over $10k in the other you are about 10% to make the 10k (although that increases if you double up but no where near as much as 99.9%)

figures are aproximate depending on number of runners number of seasts paid and the size of your average and short stacks

Beat me to it.

[bobby1]

The answer to Tikay's A-K dilemma cannot be found in maths. Don't get me wrong...there is no doubt you can prove that pushing is mathematically correct, and you would win in the long term, but that doesn't mean it is right to push here.

Personally I think maths can hamper some players in grasping the bigger picture. You can't argue with maths so some players can come to rely on it as the definitive answer to every and any situation. But just because an equation can be produced to prove something, it doesn't mean that it MUST guide your decisions.

Poker is a gambling game. As a player you look to identify favourable spots to gamble your chips so you can achieve your own personal objectives. That's it. Maths is a tool that will assist you to this end but I really don't think it should be the dominate force that decides things for you.

Nice post, for me that is the whole crux of the dilema.

[tikay]

Good grief! What have I started?

First up, thank you for all the comments, none of which offends or hurts me, I'm genuinely grateful. I know - I always knew - that technically, it was the wrong Pass. I still believe it was the correct Pass for me though. Maybe not for others, that I concede.

I got absolutely savaged - tongue-in-cheek-edly - last night at Luton.

Jeff Buffenburger, who was absolutely astonished at my ineptness, renamed AK "the tikay". Every time someone got AK, the cry rang out - "the old fella would have Passed"......Sigh.

Dave Penly, when I Passed to a Raise in 4 Card Omaha, asked "what you have, AK double-suited?", & so it went on.

I'll respond later, I'm just out of bed, & I'm off to dtd for some Cash Action later, but I need to do some bits & pieces first.

But first, I need some help......

[tikay]

I am looking for the exact words of a quotation by, I believe, Rothschild. Rothschild knew a thing or two about money management, you know.

It goes along the lines of.....

"There is never a bad time to take a profit".......

Can anyone assist?

 

[tikay]

I believe this was in a famous book - the Holy Bible I think. Just thought you'd be interested, like.

He who gathers money little by little makes it grow. [Proverbs 13:11]

[snoopy1239]

I believe this was in a famous book - the Holy Bible I think. Just thought you'd be interested, like.

He who gathers money little by little makes it grow. [Proverbs 13:11]

I believe this was in a famous book too - the Book of Beagle I think.

He who gathers money lots by lots will make it grow even bigger. Weeeeeeeeeeee [Thew 20:07]

 

[Claw75]

I am looking for the exact words of a quotation by, I believe, Rothschild. Rothschild knew a thing or two about money management, you know.

It goes along the lines of.....

"There is never a bad time to take a profit".......

Can anyone assist?

 

Haven't found it yet, but happened upon this gem whilst I was looking:

"Profit is as necessary as the air we breathe but it would be terrible if we worked only to make a profit, just as it would be terrible if we lived only to breathe" Hermann Joseph Abs

[boldie]

I believe this was in a famous book - the Holy Bible I think. Just thought you'd be interested, like.

He who gathers money little by little makes it grow. [Proverbs 13:11]

I believe this was in a famous book too - the Book of Beagle I think.

He who gathers money lots by lots will make it grow even bigger. Weeeeeeeeeeee [Thew 20:07]

 

lol

[Laxie]

Still searching.  Haven't found anything similar to the quote you're referring to, but blimey...he sure had a lot to say.

[boldie]

Still searching.  Haven't found anything similar to the quote you're referring to, but blimey...he sure had a lot to say.

So does Tony Blair that doesn't mean he's right.

[bobby1]

I am looking for the exact words of a quotation by, I believe, Rothschild. Rothschild knew a thing or two about money management, you know.

It goes along the lines of.....

"There is never a bad time to take a profit".......

Can anyone assist?

 

Is the quote'you never see a poor man taking a profit'

[Jon MW]

...

The answer to Tikay's A-K dilemma cannot be found in maths....

...

That really depends on what, and how many, variables you use.

If you include a variable which was a measure of enjoyment, a variable representing what the projected total profit for the night was given a particular course of action, and an equation which linked the two. And then incorporated this into the more standard way of working out whether that course of action was + or - EV...

Then you could calculate the answer.

[neeko]

I am looking for the exact words of a quotation by, I believe, Rothschild. Rothschild knew a thing or two about money management, you know.

It goes along the lines of.....

"There is never a bad time to take a profit".......

Can anyone assist?

 

I believe its "you never go broke taking a profit" - just looking for a source. (either Mayer Amschel Rothschild (1744-1812),  or Nathan Mayer Rothschild (1777 – 1836)

the best follow up line so far is - "is maybe the most worthless piece of advice ever given."

[Geo the Sarge]

I am looking for the exact words of a quotation by, I believe, Rothschild. Rothschild knew a thing or two about money management, you know.

It goes along the lines of.....

"There is never a bad time to take a profit".......

Can anyone assist?

 

Close TK,

It was Ted Warren

http://books.google.com/books?id=Us6wt97gzHYC&pg=PA159&lpg=PA159&dq=there+is+never+a+bad+time+to+take+a+profit&source=web&ots=Ugg0Eqh03V&sig=LppVlKxj-eCLF__3BScokkN2NlM

[Laxie]

At least you've put the google nuts out of our misery.