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Old 08-02-2007, 05:38 PM
_TKO_ _TKO_ is offline
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Join Date: Jul 2005
Location: Toronto, Ontario, Canada
Posts: 6,160
Default Re: Risk aversion and the expert line

Okay, I realized after looking at the thread title that I completely detracted from the original point I was trying to make. In terms of risk aversion, I'll often find myself waiting for somebody else to solve an EV problem, or for someone else to write a book that will help me, or for someone else to find me a good game. But when information like this becomes public, the amount of time it's advantageous is limited. It's like the old days of casino whoring. A few people were taking advantage of a ton of these bonuses, but as the information spread, the better bonuses shut down. If you're anything like me, then you waited until some of these sites were "approved" by other posters' success stories. This is a clear example of how aversion to risk kills profitable opportunities. The few people that discovered the art of casino whoring and didn't care about risking a loss... they made a ton of money.

Just remember that proactively creating your own informational advantage could be the difference that makes you cross the expert line.
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