See the top rated post in this thread. Click here

Results 1 to 13 of 13

Thread: Compuoudimg interest

  1. #1
    Senior Member dalmatian's Avatar
    Join Date
    Sep 2017
    Location
    Deep South
    Posts
    290


    0 out of 4 members found this post helpful. Did you find this post helpful? Yes | No

    Compuoudimg interest

    Hey. Just wondering. How stupid can you be after you hit several million isnt the right move to dump all your money into SP500 and just call it one? Theres something called compuouding interest. Why even waste your time with AP anymore? A lot of these supposed AP greats that have been int hos forever, why are they still playing? Theres no way they are getting enough action down to justify playing over simply along compuouding interest kick in. It really seems that a lot of APs, even the supposed successful ones, are vastly exaggerating their success. Let me know ur opinion

  2. #2


    Did you find this post helpful? Yes | No
    Not everyone is in it for the money. Especially once you get to that level (which, by the way, is not as big a club as you're insinuating), people have all sorts of reasons to AP. Some folks like "gambling" knowing they have the advantage. Some people like getting free cruises or trips or shows or whatever. Some people like pulling one over on casinos.

  3. #3


    Did you find this post helpful? Yes | No
    Rule of 72.
    https://www.investopedia.com/terms/r/ruleof72.asp

    The interest rate on my checking account is 0.02%. At this rate it will take 3,600 years to double. My long term return on my mutual funds is only a little better than 8%.

  4. #4
    Senior Member Jabberwocky's Avatar
    Join Date
    Oct 2012
    Location
    Agharta
    Posts
    1,868


    Did you find this post helpful? Yes | No
    I'm getting 16% annual yield on my Zilliqa account through staking.
    Vincit Qui Patitur

  5. #5


    1 out of 1 members found this post helpful. Did you find this post helpful? Yes | No
    Quote Originally Posted by Jabberwocky View Post
    I'm getting 16% annual yield on my Zilliqa account through staking.
    Jabber - I assume that your are only doing that with a reasonable portion of your investment bankroll and with money that you are ok with losing? Seems like a high risk venture?

    To the OP - I have felt that way for quite a while in that the money i would expect to earn from AP didnt justify the time/effort even when playing games with a high hourly ev. The problem isnt the time on the felt but rather all the other things that you need (travel, scout, get in a game, get off the game) to do to actually get hours in a game.

    That said i have made some nice scratch from the game, enjoy the challenge of identifying, assessing and exploiting new challenges. Taking money from a casino is still fun for me and i dont play golf. Need a hobby and like the analytical aspects of AP play; especially enjoy attacking new games and using new methods of attack.

    At the end of the day at this point i am not going to win or lose enough to make a material difference in my standard of living - actually like to compare my total net worth to a rollercoaster where i have been climbing the hill in an upward accumulation phase and am and just about to the top. A few years on the level rounding the corner to the drop and then plan to take it down over time.

    Everyone APs for different reasons.

    Cohiba

  6. #6
    Senior Member dalmatian's Avatar
    Join Date
    Sep 2017
    Location
    Deep South
    Posts
    290


    Did you find this post helpful? Yes | No
    I guess I dont really like gambling. I hate it. It's not fun. But I get it what you guys are saying. Unless you literally have 5 million or more, it's hard to significantly make the amount you could theoretically make in AP a year through passive investing. And forget a job.

  7. #7
    Senior Member Jabberwocky's Avatar
    Join Date
    Oct 2012
    Location
    Agharta
    Posts
    1,868


    Did you find this post helpful? Yes | No
    Sure, I'm cautious in my investing in high risk ventures. Only have ~2% in the staking business. If it turns sour, I can easily handle it.
    Vincit Qui Patitur

  8. #8
    Senior Member dalmatian's Avatar
    Join Date
    Sep 2017
    Location
    Deep South
    Posts
    290


    Did you find this post helpful? Yes | No
    @jabberwocky

    I wish I did 5% of my money in bitcoin.

  9. #9


    Did you find this post helpful? Yes | No
    Quote Originally Posted by dalmatian View Post
    Hey. Just wondering. How stupid can you be after you hit several million isnt the right move to dump all your money into SP500 and just call it one? Theres something called compuouding interest. Why even waste your time with AP anymore? A lot of these supposed AP greats that have been int hos forever, why are they still playing? Theres no way they are getting enough action down to justify playing over simply along compuouding interest kick in. It really seems that a lot of APs, even the supposed successful ones, are vastly exaggerating their success. Let me know ur opinion
    Why is a Tom Brady, a LeBron James still playing? Why does a poor kid growing up in the ghettoes sign his first pro contract and then continue to bust his ass for years? Why doesn’t he get his money and quit? Why is Elon Musk or Bezos still doing business, dont they have enough?....

  10. #10
    Senior Member Jabberwocky's Avatar
    Join Date
    Oct 2012
    Location
    Agharta
    Posts
    1,868


    Did you find this post helpful? Yes | No
    Quote Originally Posted by ZeeBabar View Post
    Why is a Tom Brady, a LeBron James still playing? Why does a poor kid growing up in the ghettoes sign his first pro contract and then continue to bust his ass for years? Why doesn’t he get his money and quit? Why is Elon Musk or Bezos still doing business, dont they have enough?....
    It's called chutzpah!
    Vincit Qui Patitur

  11. #11


    Did you find this post helpful? Yes | No
    Quote Originally Posted by Cohiba View Post
    Jabber - I assume that your are only doing that with a reasonable portion of your investment bankroll and with money that you are ok with losing? Seems like a high risk venture?

    To the OP - I have felt that way for quite a while in that the money i would expect to earn from AP didnt justify the time/effort even when playing games with a high hourly ev. The problem isnt the time on the felt but rather all the other things that you need (travel, scout, get in a game, get off the game) to do to actually get hours in a game.

    That said i have made some nice scratch from the game, enjoy the challenge of identifying, assessing and exploiting new challenges. Taking money from a casino is still fun for me and i dont play golf. Need a hobby and like the analytical aspects of AP play; especially enjoy attacking new games and using new methods of attack.

    At the end of the day at this point i am not going to win or lose enough to make a material difference in my standard of living - actually like to compare my total net worth to a rollercoaster where i have been climbing the hill in an upward accumulation phase and am and just about to the top. A few years on the level rounding the corner to the drop and then plan to take it down over time.

    Everyone APs for different reasons.

    Cohiba
    Nice post, Cohiba! I agree that everyone APs for different reasons and sometimes that makes for an intense conversation. I've been a full-time card counter for five years, making $70k in my lowest year and $120k in my highest. I know these aren't the most impressive numbers among professional BJ players, but the money is sufficient to pay the bills plus increase our savings balance. And I find I only need to work on average three days a week to achieve it. There are high paying office jobs available to me but I'm not wired in such a way to be able to fit in that environment.

    I actually enjoy counting cards and the lifestyle fits my personality. Dalmatian, I know you've worked diligently to build a sizeable bankroll and be able to play at a high level. I'm sorry to hear that you're not having fun doing it. In my mind, that is a deal killer. If you don't actually like AP work, bag it and find something that fits you better. On the other topic you mention, investing in bitcoin, I was fortunate to hear well the proselytizing words of Vagabond back in the day when bitcoin's price was much lower. That speculative investment has added some padding to my bankroll.
    Last edited by Chaconne; 01-11-2021 at 07:29 AM.

  12. #12


    1 out of 1 members found this post helpful. Did you find this post helpful? Yes | No
    Quote Originally Posted by dalmatian View Post
    Hey. Just wondering. How stupid can you be after you hit several million isnt the right move to dump all your money into SP500 and just call it one? Theres something called compuouding interest. Why even waste your time with AP anymore? A lot of these supposed AP greats that have been int hos forever, why are they still playing? Theres no way they are getting enough action down to justify playing over simply along compuouding interest kick in. It really seems that a lot of APs, even the supposed successful ones, are vastly exaggerating their success. Let me know ur opinion

    Continuing to play or work for that matter will not affect the compound interest gains. That is why Jeff Pezo and Bill Gates are still working.

  13. #13


    Did you find this post helpful? Yes | No
    To tell you the truth I don't think the United States is investable anymore. Other people is going to figure out ways to take your money thought taxes or fees.

    For your information, Jeff Bezos' salary is less than $82000. Majority of his wealth is through Amazon stocks.

Similar Threads

  1. Old articles of interest to some, maybe
    By ZeeBabar in forum General Blackjack Forum
    Replies: 2
    Last Post: 08-03-2019, 02:00 PM
  2. Of Academic Interest ?
    By ZenMaster_Flash in forum General Blackjack Forum
    Replies: 17
    Last Post: 08-23-2016, 08:03 AM
  3. Replies: 5
    Last Post: 10-22-2006, 11:38 AM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

About Blackjack: The Forum

BJTF is an advantage player site based on the principles of comity. That is, civil and considerate behavior for the mutual benefit of all involved. The goal of advantage play is the legal extraction of funds from gaming establishments by gaining a mathematic advantage and developing the skills required to use that advantage. To maximize our success, it is important to understand that we are all on the same side. Personal conflicts simply get in the way of our goals.