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#2
12-15-2005, 10:39 PM
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Re: What really is my bankroll?
[ QUOTE ]
[ QUOTE ] But i dont mind using my student loan as a bankroll, im expected to spend that anyway. [/ QUOTE ] This is a piss-poor reason for drawing on a loan if you really don't need to borrow. [/ QUOTE ] lies. max out the credit cards. it's +EV. 
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#3
12-15-2005, 11:10 PM
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Re: What really is my bankroll?
thanks for the replies so far.
reason i say i dont mind risking the student loan money is i suppose that in the grand scheme of things i dont want to lose any money that if my parents knew they be disappointed. They think ive got about $5,000 less than i actually have, so if i lost $5,000 at poker, they wouldnt have to know, just that if i lost more than that and they went to put money in my savings (they keep my saving books) and they saw id withdrawn money they instantly think i was in financial trouble and get very worried about me and that wouldnt be good. the trust me, i wouldnt want to break that. also, im from the uk, and over here the student loan you might as well take out, as you can more from interest in a bank while your at uni than you do in the interest charges (after leaving uni it changes). it just seems i should have more balls and move up limits - no pain no gain, got invest to win, all those saying. note id never risk more than i could afford to lose however bold i was feeling.
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#4
12-15-2005, 11:32 PM
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Re: What really is my bankroll?
[ QUOTE ]
...i dont want to lose any money that if my parents knew they be disappointed. They think ive got about $5,000 less than i actually have, so if i lost $5,000 at poker, they wouldnt have to know [/ QUOTE ] [ QUOTE ] the trust me, i wouldnt want to break that. [/ QUOTE ] Is it just me, or...
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#5
12-16-2005, 12:37 AM
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Re: What really is my bankroll?
[ QUOTE ]
it just seems i should have more balls and move up limits - no pain no gain, got invest to win, all those saying. [/ QUOTE ] In the context of poker, those sayings are all dumb.
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#7
12-17-2005, 05:09 AM
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Re: What really is my bankroll?
you could try just taking your $2k 'poker bankroll' and actually winning with it.
The reason you've gotten lots of sarcastic responses is because it's pretty silly to WANT to put your entire net-worth at risk just because you think you should have more balls. If you are a winning player then you should be able to make the money to move up anyway. In other words: at least TRY to have some responsibility.
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#8
12-24-2005, 01:39 PM
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Re: What really is my bankroll?
Dood dont ever decieve your parents, that love you, about money.
Money is so petty when it comes to your relationship with your parents and other loved ones. doing so is Karmically bankrupt and will hurt you in so many ways you can not begin to count them. They may suffer a bit however You will suffer over these things for the rest of your life. Your parents would likely be dissappointed that you spent their school money for you on a poker4 bankroll But hey I wont tell them . thats your job. Just let us know when your man enough to do it. then we can be proud of you too.
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#9
12-16-2005, 02:06 AM
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Re: What really is my bankroll?
[ QUOTE ]
[ QUOTE ] But i dont mind using my student loan as a bankroll, im expected to spend that anyway. [/ QUOTE ] This is a piss-poor reason for drawing on a loan if you really don't need to borrow. [/ QUOTE ] yes that may be a piss poor reason, but theoretically, the loan could clealy be considered part of the bankroll. especially if its fairly small sized and a normal student loan interest rate (which isn't very large). then if OP is a winning player and will put in the necessary hours, and doesn't mind risk as an investor, then he should borrow at the low rate and play poker with will yield the winniner player with a larger expected return than not borrowing anything. there's other assumptions in there but bottom line is if he's a winning player then taking out the loan is perfectly justified given above assumtions. Barron
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#10
12-16-2005, 02:40 AM
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Re: What really is my bankroll?
[ QUOTE ]
[ QUOTE ] [ QUOTE ] But i dont mind using my student loan as a bankroll, im expected to spend that anyway. [/ QUOTE ] This is a piss-poor reason for drawing on a loan if you really don't need to borrow. [/ QUOTE ] yes that may be a piss poor reason, but theoretically, the loan could clealy be considered part of the bankroll. especially if its fairly small sized and a normal student loan interest rate (which isn't very large). then if OP is a winning player and will put in the necessary hours, and doesn't mind risk as an investor, then he should borrow at the low rate and play poker with will yield the winniner player with a larger expected return than not borrowing anything. there's other assumptions in there but bottom line is if he's a winning player then taking out the loan is perfectly justified given above assumtions. Barron [/ QUOTE ] This is nice theory, and works out well conceptually. But it's a very bad approach for the vast majority of individuals and a tremendously bad approach for an investment as volatile and risky as poker for most individuals. Granted, he'll not likely have a better time in life to borrow, and not likely have a better offer than the rate he's being offered now as a student (and I'm not in the UK, so I am extrapolating a bit here) -- but the risk of ruin is high enough and the cost of ruin is tremendous (he's got all his earning power ahead of him, but his credit rating is now taking baby steps), and this aspect should only be a smallish part of his consideration given his OP. I know you're interested in (and planning on working with) structured financial products and have a very solid understanding of the financial aspects of the proposal; and crunching the raw numbers makes the prospect of borrowing at stable and below-market rates in order to raise capital to invest in slightly riskier but more profitable ventures seems like a no-brainer on paper with your assumptions; but there are a lot of extenuating factors that make this approach a bad approach in real life for an individual even though it looks good on paper. Even with the assumptions you laid out, given all the information OP provided in his post, I think drawing on his available student loans would be a very short-sighted and poorly-considered financial move. I also believe that anyone who turns to an online forum (focusing on poker of all things) for guidance on personal financial matters should never, ever, ever consider employing a leveraged strategy to maximize short-term returns.
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