Looking to Fund Solid players - Page 3

dogmeat · #21 08-20-2005, 01:16 PM

"There is no way to become a statistically proven winner at a limit without making the roll to play several limits above that, unless you got a real serious cocaine + supermodels habit."

Not everybody lives the EXACT same life as you do. A person can be wealthy but have a restricted cash flow. Reasons for this might be business deals, real estate deals, over-extension of cash due to family emergencies etc.

I have a reasonable bankroll for the limits I play, but also have investments - and the money some investments return might just be more than the money playing poker can return. In my case, I haven't had a regular job in 35 months, and have been living on poker earnings, but that does not mean I have as much cash as I would like.

I've been playing some live tournaments, and the bankroll for those is very high and also very volatile. Because of this, I would consider a backing deal that benefited both parties.

You might want to keep your mind open to new ideas - if you don't have a brain like Albert Einstein's, you may not have thought of everything yet.

Dogmeat [img]/images/graemlins/spade.gif[/img]

FlyWf · #22 08-20-2005, 06:22 PM

Mutually _financially_ beneficial. Obviously it can be mutually beneficial if you are helping out a friend who has fallen on hard times and you get utility from breaking even.

Dogmeat- Money management is a skill. If someone has mismanaged their money such that they are unable to apply it optimally, is giving them your money such a great idea?

A usual staking arrangement is at an absurd interest rate, much worse than the stakee taking a cash advance on credit cards.
So think to yourself: "Why is this guy willing to allegedly pay me 30 or 50% interest when Discovercard would totally loan him money at ~21% APR?"

Rudbaeck · #23 08-20-2005, 07:04 PM

[ QUOTE ]
"There is no way to become a statistically proven winner at a limit without making the roll to play several limits above that, unless you got a real serious cocaine + supermodels habit."

Not everybody lives the EXACT same life as you do. A person can be wealthy but have a restricted cash flow. Reasons for this might be business deals, real estate deals, over-extension of cash due to family emergencies etc.

[/ QUOTE ]

Well, you got a point. Alot of the new breed of pros probably are in a situation, or could very rapidly be in a situation, where staking is the only low risk option they have left.

Lets say you have good work morale, and you 2-table the 10/20. You make 2BB/100, and you get in 1250 hands a day. You work 22 of these 8h days in a month. You only make $11,000 a month, if your monthly nut is $10,000 and you don't have any savings you're obviously in trouble after one bad month. (You'll probably have a 0 income month in your first two years.)

Now the problem is, someone who went pro with a 20k bankroll and a 10k monthly nut and no (easily liquidated) savings has made such an immensely idiotic life decision that he shouldn't be trusted with money.

If our hero withdrew heavily from his bankroll to invest in something that doesn't have a 50% monthly ROI he once again made a financial decision that means investing in him probably isn't brilliant.

With the slowness of casino poker I can see why it's often necessary to give up EV for EU, but I fail to see when it's beneficial for an online multitabler to do so. (Well, I can see plenty of scenarios where it's beneficial to be a staker, or a stakee, but I frankly can see very, very few where both are beneficial at the same time.)

Tangentially: It's probably alot easier to beat the 10/20SH games on Party for 2BB/100 than it is to beat an index fund at investment. For readers who plan to invest heavily in a single, or small number of, stock or a couple of juicy pieces of real estate it's important to realize you're the fish, you're the mark, you're the sucker.

dogmeat · #24 08-20-2005, 07:21 PM

[ QUOTE ]

Dogmeat- Money management is a skill. If someone has mismanaged their money such that they are unable to apply it optimally, is giving them your money such a great idea?

[/ QUOTE ]

You are correct, money management is indeed a skill. However, a thinking business person will allow themselves the opportunity to view all their options with an impartial eye.

What would you do in a situation where you could make substantially more in a business deal with your poker bankroll over the next year than you could ever make by playing poker - but you would have to use the entire amount you have (and then some).

Would you pass on the business deal because it causes a negative cash flow, or would you consider doing the deal because you had a financial who would prop you up for a few months while you continued paying your bills and built a new bankroll?

If this does not make sense, lets say you make $100 an hour playing about 1000 hours a year (so $100,000) but could make $250,000 in the business deal. Do you take a year of vacation, or do you find a backer?

Dogmeat [img]/images/graemlins/spade.gif[/img]

Rudbaeck · #25 08-20-2005, 07:38 PM

[ QUOTE ]
What would you do in a situation where you could make substantially more in a business deal with your poker bankroll over the next year than you could ever make by playing poker - but you would have to use the entire amount you have (and then some).

[/ QUOTE ]

If someone offered me a sure way of turning $20k into significantly more than $140k in a year I'd assume it was a con.

A person with a sure (or even decently likely) way of turning $20k into $24k in a year will never lack for eager backers.

poker-penguin · #26 08-20-2005, 08:22 PM

How the [censored] does someone have a 10K monthly nut? Mine is a tenth of that and I could easly cut it down another hundred or two if I stopped boozing it up so often.

#27 08-20-2005, 08:50 PM

[ QUOTE ]
Looking to fund a group of 5-8 players to 2 table 5/10 to 10/20 6max. please contact me only if your intrest in this is sincere, and you can provide Pokertracker, or some valid form of a track record.

Thanks
Jhonny

[/ QUOTE ]

I am most interested in this most generous offer. Sign me up forthwith, my friend.

dogmeat · #28 08-20-2005, 09:33 PM

Not everybody is as thrifty as you. My nut is not that high, but we need to gross $10K, and my wife wants a Lexus. When/if you guys have families, you'll understand.

Dogmeat [img]/images/graemlins/spade.gif[/img]

FlyWf · #29 08-20-2005, 10:05 PM

There's no way "half my winnings" is going to be less than the interest rate on a crappy unsecured loan.

Also, yes, I would pass on that business deal unless it was essentially risk free. Living off credit for a year sounds OK if I'm sure I'll get that 150% return. You know any riskfree ways to 2.5x money?

Oh, and as to the $10K nut, I think that's a difference in opinion on what the definition of "nut" is. There's no way anyone could ever have a $10K monthly nut under the "minimum reasonable living expenses", but under the "avg month's living expenses" definition it is possible.

Lawrence Ng · #30 08-20-2005, 10:31 PM

[ QUOTE ]
This isnt true at all.

Ive staked several players for different reasons. Some were friends of mine that needed help. I helped a friend who needed it and they did well. Winnings from winning friends have paid for some others who didn't do as well.

Helping friends is +EV for me even if I break even. Ive done better than break even so that's nice too.

[/ QUOTE ]

Obviously I am not your friend.... [img]/images/graemlins/smirk.gif[/img] j/k

Hey Tuco, where the heck were you on Thursday? You should've seen me at ML's place, we played HU NL $200 freezeout. I had the help of two girls 12 and 15 year olds to help me beat out ML.

Lawrence