[Wayfare]

"Jeff Yass and Victor Resnick are two examples of poker players who are favored to do better investing than Warren Buffet. I am sure there are non poker players who are favored over him as well. There is no question in my mind that someone like Howard Lederer, Tom Weideman, or myself could beat 90% of mutual fund managers not so much because of our poker skills but simply because we ar smarter than them, without being ivory tower academics."

While you may have met the poker players mentioned in your statement, how would you judge that they are likely to be better or worse than Warren Buffet without having specific knowledge about Mr. Buffet's skills themselves?

It's akin to an investment professional saying "I met Warren Buffet and looking at his business accomplishments, I bet he would be better at poker than David Sklansky." It's laughable.

In fact, I would wager that if these gentlemen you mention were actually favored against Warren Buffett, they sure as hell wouldn't be grinding out a few 100k / yr at a poker table. They would be where the real money is.