Several Hotshots Supposedly Broke Or In Debt

[TStoneMBD]

several excellent mspaints here, especially bavids. vn

i am so proud to be in that original mspaint with those legends

[silkyjonson8]

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TStone's points are well made (except for his comment about NL already dying).
I've earned a middle class Southern California income on 800 hours a year for a decade now. None of you have heard of me and that's fine. I play so far beneath my BR if I even got half way to broke I'd quit because I'd have to assume I was unknowingly having mental health problems. I have a wife and kids and home and free time to read and study, yet will NEVER be recognized as a poker stud. NEVER. Because I don't gamble, and tourneys are gambling and high stakes games are gambling.
And it isn't just that some (many? most?) players crave fame and fortune. I think they also crave the big losses. Me, I can't have a big (relative to BR) loss anymore, and I like that. It's another quality of life issue to me. I don't like that punched-in-the-gut feeling. But, obviously, to many players, the big downs are just part of the roller coaster ride, maybe (sickly) the most fun part.

I once had a young player, a good player, too, tell me (not meanly) that I didn't play higher because I was scared. I didn't deny it. I am scared to lose a lot of money. But I did manage to get him to understand that his craving to player higher was also a fear, a fear that maybe he was passing up a chance to make a lot of money and get famous and all that.

But then again, because he didn't have the wife, kids and mortage payment thing going on like me, going broke was an option.

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Kinish!!! whens the sequal coming out kthx

[Daliman]

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Brad Booth in debt over a Million. Guy is major busto

Daniel N is also busto, not life busto, just cash busto. He had money invested well so not hurting in the game of life, but his poker bankroll is gone.

Jennifer Harman same thing. But she has many properties in town and has a fortune in real estate.

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Uhh what...you think the creator of Cirque De Soleil (Guy) is "major busto?" He's prolly worth close to a billion if not more...

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Awesome. Hope I exacerbated this response. [img]/images/graemlins/laugh.gif[/img]

[Daliman]

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New York and when you get to my age they (the 25-30 year old kids) put you out to pasture and make you milk the cows and just watch things.....I just make sure no-one is gonna blow up my investors and my loot.

Global macro and arb fund

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He was talking to me you Australian drongo and

Orlando I am a bond trader

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Wow, drongo is really making the rounds. 2nd time hearing it today, which was first time ever... [img]/images/graemlins/confused.gif[/img]

[Daliman]

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Jennifer Harman same thing. But she has many properties in town and has a fortune in real estate.

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Hasn't LV real estate tanked over the last 2 years?

[/ QUOTE ]Yeah but tanking if you are worth 8 figures still can't be too bad...


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Brad Booth in debt over a Million. Guy is major busto

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Given the stories of how this guy throws money away, this wouldn't surprise me at all.

[/ QUOTE ]let's hear some stories

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WTF?

LV Real Estate peaked just over a year ago, and that was after a huge surge in the market over the last five years. A lot of $100,000 houses in LV in 1995 are worth more than double that now.

The market has dropped slightly the last year, but the bottom hasn't fallen out yet. However, expect to see a steady decline in prices over the next two years, especially with the amount of condos going up around the strip and the ones that are there now that are sitting empty.


Also, Jen Harman was playing in the big game in Bobby's room last weekend. They were 5 handed, it was her, Barry, some amateur who looked like he was stuck a lot and had been playing forever, and some kid from a WSOP final table last year of the year before.

That being said, I don't think she's busto, and even if she were, it would mean bankroll busto, not life-money-assets busto.

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If I bought a house for 100k in 1995 and it was only worth 200k now, I'd strongly consider moving out of the depressed area I was in. Especially in LV, (until the last year or so), doubling your home value in 5-7 years or less was pretty common. Hell, my wife is freindss with a couple in Phoenix who bought their house for 275k, and 2 years later sold it for 680k.

[Teh1337zor]

Post deleted by Nick B.

[El Diablo]

David,

"No. I'm not saying that. I'm saying that the group of people you mention INCLUDE some of the biggest names in poker. (Even some who would agree with my statement but don't realize they are not an exception.)"

So you are saying that some of the guys who have some degree of success in the biggest games largely by virtue of running hot at opportune times are able to become big names in poker? And that most of the guys who play really big and become big names in poker have big egos and don't really believe THEIR case is due in large part to positive variance?

The thing is, David, this cycle (guy runs hot, is the best online poker player ever, everything he says is gold, he is winning due to being so far ahead of everyone else, variance is small factor in THIS case, busto) repeats itself time after time online. As has been said previously in this thread, it's just harder for some people to see as easily when talking about the live players when the long run takes far, far, far longer to reach. That doesn't make this concept any less obvious, though.

I think this thread is at the same level as making a post that says something like "Believe it or not guys, some of the most admired tourney players (online and TV) on 2+2 have actually been busto for a long time and are in the hole bigtime to backers." News to some, I guess, but pretty boring and common knowledge to anyone who knows anything about the poker scene.

[TxRedMan]

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Jennifer Harman same thing. But she has many properties in town and has a fortune in real estate.

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Hasn't LV real estate tanked over the last 2 years?

[/ QUOTE ]Yeah but tanking if you are worth 8 figures still can't be too bad...


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Brad Booth in debt over a Million. Guy is major busto

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Given the stories of how this guy throws money away, this wouldn't surprise me at all.

[/ QUOTE ]let's hear some stories

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WTF?

LV Real Estate peaked just over a year ago, and that was after a huge surge in the market over the last five years. A lot of $100,000 houses in LV in 1995 are worth more than double that now.

The market has dropped slightly the last year, but the bottom hasn't fallen out yet. However, expect to see a steady decline in prices over the next two years, especially with the amount of condos going up around the strip and the ones that are there now that are sitting empty.


Also, Jen Harman was playing in the big game in Bobby's room last weekend. They were 5 handed, it was her, Barry, some amateur who looked like he was stuck a lot and had been playing forever, and some kid from a WSOP final table last year of the year before.

That being said, I don't think she's busto, and even if she were, it would mean bankroll busto, not life-money-assets busto.

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If I bought a house for 100k in 1995 and it was only worth 200k now, I'd strongly consider moving out of the depressed area I was in. Especially in LV, (until the last year or so), doubling your home value in 5-7 years or less was pretty common. Hell, my wife is freindss with a couple in Phoenix who bought their house for 275k, and 2 years later sold it for 680k.

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Do you realize how outrageous it is for a home to double in value every five years?

FTR, it's very uncommon for a lot of homes to double in value over a five year period if your look at the United States as a whole.

I mean, that's like saying, you bought a house for $200,000 in 1997 and could sell it for $800,000 in 2007. If I stuck $200,000 into a mutual fund I'd be thrilled if it made it to $400,000 within 10 years.

Yes, some markets have experienced this kind fo growth over the last 10-20 years, but not consistently, and they're the anomaly, not the standard.