Prose from a Poshboy

[cambridgealex]

Mums just arrived in Barcelona to visit for a couple of days. Will have plenty of words of wisdom for me no doubt.

Yesterday's online session was the first time in many months, even years that was so horrible that it still hurts today. Really nasty day. Usually the next morning I'm fine but this one still hurts today. I'll try not to let that affect the discussions with Mum!

[tikay]

Mums just arrived in Barcelona to visit for a couple of days. Will have plenty of words of wisdom for me no doubt.

Yesterday's online session was the first time in many months, even years that was so horrible that it still hurts today. Really nasty day. Usually the next morning I'm fine but this one still hurts today. I'll try not to let that affect the discussions with Mum!

I followed you until around midnight in the Sky Poker High Roller, last time I looked you were Top 2 with about 15 left - how much did you cash for? Think the top 3 when I switched off was you, Chris Moorman & Railtard.

[cambridgealex]

Mums just arrived in Barcelona to visit for a couple of days. Will have plenty of words of wisdom for me no doubt.

Yesterday's online session was the first time in many months, even years that was so horrible that it still hurts today. Really nasty day. Usually the next morning I'm fine but this one still hurts today. I'll try not to let that affect the discussions with Mum!

I followed you until around midnight in the Sky Poker High Roller, last time I looked you were Top 2 with about 15 left - how much did you cash for? Think the top 3 when I switched off was you, Chris Moorman & Railtard.

13th and £0

[cambridgealex]

Was chip leader with 15 left with 10 paid in fact then the most epic self-bok happened.

The first thing was me saying to Victoria "I haven't had a set back in this yet". It had just been plain sailing so far.

Then when I took the chip lead from Moorman I tweeted the show because they were going on about how Moorman was chip leader and I wanted to set them straight

Then Moorman and I played a pot, not a huge one (I folded KQ on QT829) but it was enough to put him back on top.

Feeling silly, I deleted the tweet.

Then lost a huge flip.

Then the show started reviewing the hand that Moorman and I played and I found out he bluffed me. Matt on the show was like "This is gonna get snapped off by Alex here I'm sure. OH MY GOD HE'S FOLDED!" And Victoria was laughing her head off.

And at this exact moment I busted.

Laptop almost went out the window.

[tikay]

Was chip leader with 15 left with 10 paid in fact then the most epic self-bok happened.

The first thing was me saying to Victoria "I haven't had a set back in this yet". It had just been plain sailing so far.

Then when I took the chip lead from Moorman I tweeted the show because they were going on about how Moorman was chip leader and I wanted to set them straight

Then Moorman and I played a pot, not a huge one (I folded KQ on QT829) but it was enough to put him back on top.

Feeling silly, I deleted the tweet.

Then lost a huge flip.

Then the show started reviewing the hand that Moorman and I played and I found out he bluffed me. Matt on the show was like "This is gonna get snapped off by Alex here I'm sure. OH MY GOD HE'S FOLDED!" And Victoria was laughing her head off.

And at this exact moment I busted.

Laptop almost went out the window.

Ha!

That is just superb.

I should not laugh really, it's decent money, but I did, sorry. 

[cambridgealex]

It is funny now looking back actually. That's a good sign I guess.

I felt sick to my stomach at the time and all through the night.

[GreekStein]

dont feel too bad, that post may be enough to get you the much needed Moorman book

[tikay]

dont feel too bad, that post may be enough to get you the much needed Moorman book

Yeah, it has a whole chapter on bluffing.

[SuuPRlim]

With all due respect to all contributors to this recent discussion on the best investment to make, none of you can now what is best for anyone unless you have had a full and detailed discussion with them about a whole host of things.

I would personally much rather take the advice of a chartered and/or certified financial planner who comes highly recommended, than take my investment advice from this thread.

Seriously, I mean no offence to anyone who has posted in saying that.

I mean this is true, and I assume Alex isn't going to say "Right I asked 15 people on blonde what to do and 9 of them said buy a house so I'm buying a house" It's a forum, you got accountants, bricklayers, sportsbetters and lawyers all rolfing around ITT and everyone's opinion is there's.

There are two long term proffessional gamblers ITT and one of them said he should 100% buy a house if he is able, and the other said don't buy a house until you can do so without massively damaging your liquid net worth, does blonde give you solid, reasoned porffessional advice - NO, what it gives you is a range of opinions from a range of characters/backgrounds.

One other aspect is your level of degeneracy.

88% concentration (remember him) spun up £100k plus and down again and up and down but in the blog talked about buying a house or part of one. If he had not bought the illiquid asset that is a house, then you can guarantee that it would have been lost by the end of the month through poker (and maybe back again) but these things don't tend to end well.

Don't know what happened to him in the end - was still an amazing tale.

Equity in a house is just something that gives that extra confidence that allows risks elsewhere.

Absolute best blog ever back in the day 

agree was sickest read ever. That's pretty irrelevant mind, as he wasn't a proffessional gambler, if that guy had £200k liquid then we'd all be saying BUY A FUCKING HOUSE and unplugging his router until he'd bought one

[shipitgood]

If it's possible to buy, would defo be worth doing.

If you rent a place, eg £600 per month, £72,000 over 10 years, not factoring in increases, it's a lot of "dead" money.

Owning your house - on a mortgage - over those 10 years you are building up equity in the house.

Ideal if you could just say there is x amount as a deposit (get a good loan to value), and take a mortgage for the difference.

Would be really interesting to hear if you can get a mortgage. Most providers might have issues with "poker income".

Good luck with it!

 

[arbboy]

If it's possible to buy, would defo be worth doing.

If you rent a place, eg £600 per month, £72,000 over 10 years, not factoring in increases, it's a lot of "dead" money.

Owning your house - on a mortgage - over those 10 years you are building up equity in the house.

Ideal if you could just say there is x amount as a deposit (get a good loan to value), and take a mortgage for the difference.

Would be really interesting to hear if you can get a mortgage. Most providers might have issues with "poker income".

Good luck with it!

 

Not as much dead money as losing £50-100k a year he could earn from investing his £150k roll into his day job rather than a house over 10 years.  Makes the rent seem like small change.  Depends how much you value the lifestyle of working for yourself tax free i suppose v having a fixed steady income which doesn't require you to invest any cash to make so you can tie your cash up in a house instead.  Horses for courses.

[Woodsey]

If it's possible to buy, would defo be worth doing.

If you rent a place, eg £600 per month, £72,000 over 10 years, not factoring in increases, it's a lot of "dead" money.

Owning your house - on a mortgage - over those 10 years you are building up equity in the house.

Ideal if you could just say there is x amount as a deposit (get a good loan to value), and take a mortgage for the difference.

Would be really interesting to hear if you can get a mortgage. Most providers might have issues with "poker income".

Good luck with it!

Pretty sure a poker player can get a mortgage if bank of mum and dad will guarantee it 

[VBlue]

I mean this is true, and I assume Alex isn't going to say "Right I asked 15 people on blonde what to do and 9 of them said buy a house so I'm buying a house" It's a forum, you got accountants, bricklayers, sportsbetters and lawyers all rolfing around ITT and everyone's opinion is there's.

There are two long term proffessional gamblers ITT and one of them said he should 100% buy a house if he is able, and the other said don't buy a house until you can do so without massively damaging your liquid net worth, does blonde give you solid, reasoned porffessional advice - NO, what it gives you is a range of opinions from a range of characters/backgrounds.

You always manage to make a lot of sense of things and tie up conversations succinctly.  I still think there are a few people saying, what you need to do/would defo be worth doing.  Not possible to gauge any of that without asking quite a lot of questions first.  Point taken from you though Dave.

[shipitgood]

Not as much dead money as losing £50-100k a year he could earn from investing his £150k roll into his day job rather than a house over 10 years.  Makes the rent seem like small change.  Depends how much you value the lifestyle of working for yourself tax free i suppose v having a fixed steady income which doesn't require you to invest any cash to make so you can tie your cash up in a house instead.  Horses for courses.
[/quote]

Totally understand what you are saying. If taking x amount out of your roll is going to be detrimental to what you can achieve in £

Imo, it's really a balance.

You can get the best of both worlds.

You can take out some, say £20k as an example. And get a mortgage (if that is possible)

Or, say over the next 3-6 months, I am going to use some of my "earnings" to put towards a deposit.

[Whollyflush]

If it's possible to buy, would defo be worth doing.

If you rent a place, eg £600 per month, £72,000 over 10 years, not factoring in increases, it's a lot of "dead" money.

Owning your house - on a mortgage - over those 10 years you are building up equity in the house.

Ideal if you could just say there is x amount as a deposit (get a good loan to value), and take a mortgage for the difference.

Would be really interesting to hear if you can get a mortgage. Most providers might have issues with "poker income".

Good luck with it!

Pretty sure a poker player can get a mortgage if bank of mum and dad will guarantee it 

couple of years ago i was putting down a 60% deposit down with my dad as a guarantor (prison officer 30+ years) and the underwriters knocked it back.