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#1
06-27-2005, 04:55 PM
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Poker vs business
Something to think about.
Largest shareholder at Party cashed out over $650 million cash today. In addition to that, he owns about $2.5-3B more in Party stock. He could lose 100BB every single day for a year in the 4k-8k game and would be down less than half of what he cashed out today. 
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#3
06-27-2005, 05:08 PM
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Re: Poker vs business
I was reading the book about about the Andy Beal game this morning on the way to work. For all the success of the top poker players their cash and assets don't even come close to those of very successful or even moderately successful businessman. For Beal, coming up with 10 or 20 million dollars is no big deal. For the big game regulars it was a major deal.
When Bloomberg ran for Mayor of New York City, I think he spent 60 million of his own money on his campaign. One of the papers figured out that an equivalent expense for the typical New Yorker (based on Net worth) would be buying a VCR.
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#4
06-27-2005, 05:49 PM
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Re: Poker vs business
Ya, because Andy Beal is only "moderately successful". Give me a break.
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#5
06-27-2005, 05:57 PM
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Re: Poker vs business
[ QUOTE ]
Ya, because Andy Beal is only "moderately successful". Give me a break. [/ QUOTE ] Whether or not Andy Beal is a good analogy, there are several goofy local small business guys in almost every town in the country with more assets than all but a handful of poker players. The guy who owns your local fast food franchise is almost definitely worth more than the biggest winner in your local casino. Poker is not a great career if you're doing it because you want to be wealthy. scrub
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#7
06-27-2005, 06:10 PM
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Re: Poker vs business
I've often thought about this.
The top players in this game can't even come close to the top players in business/industry. Steve Wynn could probably BUY the top 10 poker players combined a couple of times over with the money in his change cup.
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#8
06-27-2005, 06:11 PM
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Re: Poker vs business
[ QUOTE ]
The guy who owns your local fast food franchise is almost definitely worth more than the biggest winner in your local casino. Poker is not a great career if you're doing it because you want to be wealthy. [/ QUOTE ] Word. For smart folks, starting profitable small businesses and some type of investing (swing trading, etc.) is going to be a lot more mentally & socially stimulating than playing cards. Not as sexy as saying "professional poker player," but if money really is how you keep score...
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