[TheOneWizard]

I believe this:

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Hellmuth is deathly afraid of varience - his tournament and HSP play make this obvious.

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And this:

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i think he takes insurance because he is unable to deal with bad beats and he knows it. He would loose way nore if he would tilt.


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Are the closest to the truth. While sacrificing EV insurance does reduce your variance almost entirely. It's very clear Hellmuth does not like to lose and would rath win less than lose anything.