So Am I A NIt?

[fraac]

"Liquid bankroll"? Dave, you get a regular income from books, and you're old. Boasting that you're more degenerate than the average American, having been goaded by losers into caring, is not just weakwilled (do you feel like you're back at school, crying that no matter how hard you try to fit in, you're unpopular?), it's a bad question.

Let's gamble for our lives. Say we're all 20 years old, the world at our feet, our optimism not yet crushed. How much money would you accept to play Russian Roulette?

[pyedog]

I'm not a gambling expert but wouldn't the better question be how much money you're willing to gamble on an even money coin flip? That seems like the kind of thing a nit would have a real problem with because nits demand an edge in every bet they take.

By the way, I'm a nit and I wouldn't make an even money coin flip for very much at all, maybe 1/2000th of my net worst at most, and only if I was goaded into it by a friend.

[oyvindgee]

[ QUOTE ]
I'm not a gambling expert but wouldn't the better question be how much money you're willing to gamble on an even money coin flip? That seems like the kind of thing a nit would have a real problem with because nits demand an edge in every bet they take.

By the way, I'm a nit and I wouldn't make an even money coin flip for very much at all, maybe 1/2000th of my net worst at most, and only if I was goaded into it by a friend.

[/ QUOTE ]

No, it wouldn't. And you sir are a nit.

[pyedog]

[ QUOTE ]
[ QUOTE ]
I'm not a gambling expert but wouldn't the better question be how much money you're willing to gamble on an even money coin flip? That seems like the kind of thing a nit would have a real problem with because nits demand an edge in every bet they take.

By the way, I'm a nit and I wouldn't make an even money coin flip for very much at all, maybe 1/2000th of my net worst at most, and only if I was goaded into it by a friend.

[/ QUOTE ]

No, it wouldn't. And you sir are a nit.

[/ QUOTE ]
Care to explain why it wouldn't? I'm a nit and I would take 7:5 odds on a $20K flip. That's just a good investment. But I wouldn't bet even money on a coin flip for more than $100, and preferably less.

I think that a true non-nit (eg. Grimstarr) would bet huge amounts of money on an even money flip, and even more ridiculous amounts of money on a flip getting 7:5.

So what percent of your net worth would you wager on an even money flip?

[swissarmy]

I think a lot here depends on your opportunity cost. Do you think you have a better expectation in risking your money someplace else? If offered this deal 50 years ago I think Warren Buffett would have turned it down for even greater odds probably. He knows he can compound his money at super high rates in investments with little to no downside and tremendous upside.

[Prime Time]

A. Kelley Obv.

B. Most would over bet

[derick]

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A. How much do you think I would REALLY bet as a percentage of my bankroll?


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You will bet full Kelly.

For example if you have a 40% edge you bet 40% of your bankroll.

You won't bet much less than half Kelly in any event.


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B. What proportion of all 100K to 10 Mil Americans would bet a higher proportion of their bankroll (lets also elimate those with pressing expenses)?

[/ QUOTE ]

I don't know about Americans but for Canadians my guess is 5% will bet much more than full Kelly.

15% will be around Kelly to half Kelly.

Anyone who bets much less than half Kelly is a nit... My guess 80% of the population is probably a nit.

The above stats are just made up guesses...

[LiveNow]

oh hay there!

[newhizzle]

100k and 10 mil are two very different numbers

if i have 100k ill bet 100 percent without thinking twice

if i have 1 mil, id probably bet like a quarter of it, still leaving me pretty comfortable if i lose, id bet less cuz its a lot harder to rebuild

if i have 5 mil, id probably bet like 20%, iof i lose i still got 4 mil who cares

if i have 10 mil id actually probably bet half, i might go on tilt for a whi;e if i lose the bet, but really its worth the risk as i dont need more than 5 mil to be set living comfortably for life and its a huge +ev bet

but im a [censored] sicko