Less than $100,000
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
You can't buy me off. I'm flipping no matter what.
Bubbles, I will confess what would knock my socks off. Living in close proximity to a pastry shop, and for one hour every day indulging in my favorite delight, without a care in the world. Now that is living life in luxury. Freightman, please stop bragging buddy.
Last edited by BoSox; 12-25-2017 at 07:11 AM.
Only 3-4 times a week. And they're closed today.Originally Posted by BoSox
Bubbles, I will confess what would knock my socks off. Living in close proximity to a pastry shop, and for one hour every day indulging in my favorite delight, without a care in the world. Now that is living life in luxury. Freightman, please stop bragging buddy.
There's little point in continuing, for two separate reasons. First, the second part was to have offered even more certain money, to show how (I thought) the distribution would change. But, the distribution for this first poll already resembles what I thought I'd see for the second, and that's because I underestimated the importance of the lower amounts of money to many of the members here. Offer ten times as much, and I'm afraid that just about everyone would choose the lowest category, even though e.v. would be five times as much.
Second, the number of incredibly idiotic comments regarding the first poll just reiterates the fact that, no matter what the topic, most members here universally exhibit two traits: 1) they never met a topic that they could stay on for more than five posts, before displaying the attention span of a three-year-old, and 2) they have an obsessive compulsion to hear themselves speak, no matter what drivel they actually utter.
Too bad. When I did this with Wall Street friends, it made for some fascinating discussions, without any of the lunacy that was displayed here. I tried.
Don
You're utterly hopeless. I'm not going to dignify this asinine commentary with a response. You don't have the slightest idea what you're talking about or anything about this entire concept. And I'm not going to be the one to educate you about it, because you don't want to learn. You just want to write babble.
Andre, if you want to know why the thread ended, it's because of mindless drivel like the above.
Don
Last edited by DSchles; 12-28-2017 at 08:18 PM.
"... only an idiot would make such a gamble with so large a sum. Granted there are a lot of idiots on Wall Street so Don's Wall Street buddies not understanding that they would be risking more money than they would gain on a 50-50 shot isn't that surprising."
I'm wiping the tears from my eyes from laughing so hysterically. The "idiots" you refer to are some of the most famous quants on Wall Street -- the so-called "rocket scientists" who model the most complex derivative products ever created. Every SECOND of their lives, they forget more higher mathematics than you could ever dream of knowing in ten lifetimes.
"In the coin flip with no offer you are risking nothing. But when you turn down a certain offer you risk losing that certain money for the difference between that money and $1M. At offer amounts larger than $500K that is a disadvantage bet. And it gets worse as the amount you would turn down gets larger.
"How is this not the proper way to look at deciding on an offer?
"Those that said more than $500K are bad AP's. Those that said less than $500K are deciding what certain amount is worth having no risk of getting nothing."
I guess there's just no way to explain to you that this has NOTHING to do with what you are bringing up. It has solely to do with the value of money to various individuals. The people to whom I referred above (and many others, who were managing directors -- partners, if you will -- of the firm and who could buy and sell every single member of this forum, cumulatively, dozens of times over) wipe their asses with $100 bills. Their answers reflect their SENTIMENT about the proposition. The great majority of them simply said, "Fuck it; let's flip and rock and roll." I thought we'd have a little more of that here, but such was not the case. Many others, knowing what the e.v. was since the time they were in diapers, which was several years before they graduated from the likes of Harvard, MIT, CalTech, Wharton, and some of the finest institutions of higher learning in the world, thought that maybe they wouldn't flip, but they surely wouldn't take the "pittance" of a couple of hundred thousand as certain compensation. They might shave a couple of hundred thousand from the million, but definitely not HALF of it.
If you can't understand this line of thinking, which has nothing to do with mathematics, then I really can't help you any further, but please stop your condescending tone and your burning desire to explain the math to me by quoting the material in my own book! Do you realize that all the risk of ruin formulas, including all the double barrier, goal, etc., ones that are now so widely used by you and other players come from these Wall Street "idiots"??
PLEASE try to curb your uncontrollable need to respond.
"I would be curious to hear the logic Don's Wall Street buddies used to make what seems like such poor decisions. Who knows maybe I would learn something."
God forbid!
Don
Don, I realize you are talking to only one individual, but anyone could take this the wrong way.
I do not think that there are two people on this board that give a shit what the value of money represents to the big wheels on wall street.
I do not think the above quote is a surprise to anyone, anyway what was the relevance?
Don, you really out did yourself in this post, comparing a Blackjack Forum Board to big shots on Wall Street. Good job.
I have to concur. I mean really - who gives a shit. The only thing that's relavent is the factor of tolerance. The big wallet has heavier tolerance, since the backup is already there - accordingly who gives a shit, win or lose. The little guy has less tolerance where the factor if a windfall can make a big difference in his/her circumstance.
Having said that, 3 misses the point that $100 to 1 guy, is 100,000 to another. Fifty years ago, I had my bar mitzvah. An aunt, a widow, without a pot to piss in, travelled from another city. She stayed with us. Her present to me was a $5 bill. I guarantee that that $5 gift was a hardship for her. I never forgot it. These past several years, I have done a fair bit of fund raising, and I'm pretty good at it. I have no problems embarrassing the shit, or shamelessly hustling those that have a few bucks, and can well afford the donation, but who are to damn cheap to get part with a few dollars. I am also very cognizant of those where a small donation represents some money. I don't push - I thank and assure them that there modest donations make a difference. Further, guys with dough, at least the guys I know, like to be hustled for a good cause that they are familiar with - just a matter of being creative.
Should add, by 3's reasoning, that he himself should reduce his stakes, and go make a living at the $5 tables.
Last edited by Freightman; 01-02-2018 at 03:59 PM.
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