How many of you have invested poker winnings?

Python49 · #1 09-13-2005, 03:12 PM

I'm trying to get an idea of the amount of money that can be made with investing poker earnings. So my question is, who out there has been successful with investing, where did you invest, how much money have you been able to make and what was the amount of the original investment. I have no idea how much money can be made in stuff like stocks and mutual funds but have some money that id like to invest. I don't know what are the possibilities... the realistic ones anyhow. Like for someone with 30,000 to invest, how much can they be making on this. What are the different options? Any personal stories on what you've made throuh investing?

Degen · #2 09-13-2005, 05:11 PM

i play profesionally, so thefore need a pretty large roll and also 6 months of living expenses saved up...so naturally i am not using most of that at any one time, so i keep this in stocks...i also put any excess winnings in stocks to be later used for bankroll replenishment or a home or whatever, this helps with money management (not spending too much money) and also with growing the money

my portfolio is up just under 10% in three months...a hell of a lot better than party offers [img]/images/graemlins/wink.gif[/img]

FishHooks · #3 09-13-2005, 08:47 PM

You should really have a couple of months living expenses in liquidable funds like money market accounts, not all in stocks. Just something to think about.

Degen · #4 09-13-2005, 09:52 PM

why? can't i just sell the stock if i need to?

FishHooks · #5 09-13-2005, 11:09 PM

Yea you can, but many experts advice the buy and hold strategy, and selling stocks just because you need the money is generally a bad idea, and there are usually comissions involved. I do suggest have 2 months expenses in very liquidable funds like a money market account. They give a decent return over inflation, and you can actually write checks from your money market account, usually 3-6 a month and usually has to be over $250. So if your ever in a jam it can come in real handy.

Degen · #6 09-13-2005, 11:12 PM

hmm okay, thanks

but aren't money market accounts risky like stocks? as in you could lose your money?

AceHigh · #7 09-13-2005, 07:13 PM

It's like poker, sometimes you can make a killing and sometimes you wish you could break even. My guess is you can make more than 30% (average per year) a year roi fairly consistently. But my sample size is pretty small. And if the market has a terrible year, you probably won't be able to break even.

Sniper · #8 09-14-2005, 04:07 PM

[ QUOTE ]
I'm trying to get an idea of the amount of money that can be made with investing poker earnings. So my question is, who out there has been successful with investing, where did you invest, how much money have you been able to make and what was the amount of the original investment. I have no idea how much money can be made in stuff like stocks and mutual funds but have some money that id like to invest. I don't know what are the possibilities... the realistic ones anyhow. Like for someone with 30,000 to invest, how much can they be making on this. What are the different options? Any personal stories on what you've made throuh investing?

[/ QUOTE ]

The possible returns are totally dependant on the amount of time you are willing to spend researching and trading.

If you want to spend 0 effort, then stick your money into an index fund and achieve market returns.

If you want to spend 100% effort and day trade, then you can turn 30K into 1 million+ in 2 years, achieving a 1% compounded return on equity daily.

Obviously there are alot of other possibilities in between those two [img]/images/graemlins/wink.gif[/img]

bob2007 · #9 09-14-2005, 08:52 PM

I've invested my poker winnings, but I have very little money. My portfolio consists of 1 stock, at a value of 4000US. I've been in and out of the market for the last 2 years, cause of tuition costs, having to take money out and put it back in. I've only invested in 3 stocks thus far.

RY -3 bucks in total, held for 6 months.
Goog up 37% held 3 months sold in Aug.
PDC up 12% in the last 1/2 months.

Probably a small sample, hopefully the success will continue. I scour as many stocks and find the best one with acceptable risk.

I'd advise you to learn a lot about investing or don't bother picking stocks, just like poker. Go to a broker put your money in a mutual fund, returns will likely be similar to the market (which has been pretty crappy for this year). But you won't have to put much effort. Ignore guaranteed investments since they barely return more than inflation.