$3 Million Downsizing.............

[bustedromo]

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I understand his point fine. What he ignores is that BT can do stuff like "stop playing" and "drop down" before variance bustos his roll away.

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Ahh, but most likely he won't. When I started day and swing trading, I didn't get smart until it was too late. None of my friends did either. And every newbie I was in contact with also ran it way up and then ran it into the ground.

It took me 2 total complete bustos (the 2nd for a lot of money) before I had the willpower to apply risk control as job #1, 100% of the time.

What I don't understand (and understand very well at the same time) is why so many young poker wizzes don't want to learn lessons from the young daytrading wizzes who went before them 10 years ago. Most of those guys went broke and are working some lame office job today.

Similarly, almost all poker wiz kids will be broke in a couple years. There's only a tiny percentage, maybe 1%, who will have the savvy to realize what a once-in-a-lifetime goldmine they're on to, not get greedy, play with proper risk control, and consistently take most of their profits out of the game and into t-bonds, or similar.

The history of gambling booms repeats, over and over, and no amount of superstardom these guys receive will change that. I actually think the superstardom makes it much worse for them.

[highhustla]

While I lol'ed at this: "I have degrees from UCB in engineering, math, and computer science. I've been a professional financial trader for over 10 years. I've studied these concepts extensively, so to answer your question, yes, I think I know what I'm talking about." the rest of that guy's posts are pretty well worded, IMO, though kinda pointing out the obvious.

And yes, wtf are you talking about, of course you can say a bad word about him. But if you say he's going to go busto, you're probably wrong, and you'll probably have a lot of folks correct you.

[Jamougha]

AFAICT he was probably up around $2.5 million at peak in the live games he was playing, so I doubt this downswing is actually as threatening as it sounds.

Also, even if Brian lost 98% of his roll and had to go play baby stakes like 10/20 to rebuild, I doubt it would affect his lifestyle in any major way. This is not like stock trading.

[isapistola]

bustedromo, what you fail to see is that the biggest online games only run at NL60k which is less than 3% of brians bankroll.

you said that a bankroll of 100M is needed to play these games without risk of busto which is certainly not the case (but it might be the case in 1k/2k live games with effective stacks of >1 million).

[baronzeus]

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bustedromo, what you fail to see is that the biggest online games only run at NL60k which is less than 3% of brians bankroll.

you said that a bankroll of 100M is needed to play these games without risk of busto which is certainly not the case (but it might be the case in 1k/2k live games with effective stacks of >1 million).

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i think even with a $1M buyin hed never go broke with 100M

maybe 4M buyin. i mean who loses 95 buyins and says "gee ill keep playing these guys"

[DCJ311]

Probably 99%+ of poker players don't have any comprehension of proper bankroll management. To play $500/1000 NL with a reasonably low RoR requires at least a low 8 figure bankroll. With anything less you're 'taking a shot' in a way. Anyone who has $5-10 million from poker and finds a way to lose most or all of it is likely a complete idiot, whether it be from being a bad gambler or being bad at math.

In today's world the value of a dollar earned past $10 million is far less than the one earned before it. Once a person has a net worth of that much he can easily live comfortably solely off of passive income.

Note that is quite a bit different than someone with a $50k bankroll that is fairly easily replenishable 'taking a shot' and going broke. There is no reason to put a mid 7-figure bankroll at jeopardy unless you have aspirations of becoming a billionaire.

[xxThe_Lebowskixx]

"In today's world the value of a dollar earned past $10 million is far less than the one earned before it. Once a person has a net worth of that much he can easily live comfortably solely off of passive income."

This is a fair point, however I think Brian said that he doesnt play for the money, etc.

[Micturition Man]

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I understand his point fine. What he ignores is that BT can do stuff like "stop playing" and "drop down" before variance bustos his roll away.

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Ahh, but most likely he won't.

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This is why people are finding you annoying. You patronizingly assume that Brian is a helpless degen because he plays poker and has an ego.

Well some of us know tons of poker players, and they are not all created equal with respect to risk-aversion.

Brian is simply not a very degen kind of guy. I don't care enough to quote details from his blog entries that support this, but if you have been following his history it's pretty clear.

And btw I was one of the first people to call Brian out for overestimating the correlation between skill and results. (This was in the context of his PLO downswing.)

In fact I completely agree with you in that regard. But what you don't realize is that one can have misconceptions about variance while still minimizing risk of ruin simply by firmly adhering to bankroll rules.

I guess only time will tell but I really think you have a bad read on Brian.

[Chump Change]

Now I see what they've been talking about. I thought everybody loved aba, how couldn't you?

Lol you jealous pathetic bastards disgust me.

[The B]

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people plz stop making stupid busto comments and dumb speculations abt his bankroll.

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the same way one can order people to stop making busto comments and dumb speculations, another can order that people stop stroking aba and putting him on such a poker pedestal...

with that said, I like (and respect) Brian's game and approach to poker, the same way I like hundreds of others' game and the way they see the game