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#82
10-02-2007, 09:03 PM
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Re: 10k post
[ QUOTE ]
In ten years I have no idea but I imagine I will be managing my own portfolio in the stock market. I believe I have taken steps in the last 3 years that will allow me to do that even after deciding to play professionally for 2-3 years [/ QUOTE ] ahnuld, i assume you are playing poker to build the capital to be able to make a lot trading? what type of money do you expect to make in stocks? how active will you have to be with the type of trading you're going into? 
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#83
10-02-2007, 09:28 PM
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Re: 10k post
[ QUOTE ]
What program are you taking at McGill? I'm in second year Management. Any specific courses or profs you recommend? Or are you an arts students doing econ and stuff? [/ QUOTE ] Final year of finance. I recommend De Motta if hes still around and Sujata Madan, both really good, both know their [censored]. Most of the courses dont teach you anything relevant about investing unfortunately.
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#84
10-02-2007, 09:33 PM
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Re: 10k post
[ QUOTE ]
[ QUOTE ] In ten years I have no idea but I imagine I will be managing my own portfolio in the stock market. I believe I have taken steps in the last 3 years that will allow me to do that even after deciding to play professionally for 2-3 years [/ QUOTE ] ahnuld, i assume you are playing poker to build the capital to be able to make a lot trading? what type of money do you expect to make in stocks? how active will you have to be with the type of trading you're going into? [/ QUOTE ] Yeah, im going to play professionally for a few years and try to build a pretty solid capital base. I intend to invest and play poker at the same time however as ill have alot of spare time available to do my own research. I hope to beat the market long term by a few points a year, which is all you can really hope for. Ill be active but long term, meaning ill buy whenever I see a good opportunity but hold for a few years on most of my buys, with a warren buffett philosophy in mind. I might also dabble in RE if I see some good opportunities which i expect to see soon (3-18 months)
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#85
10-02-2007, 09:41 PM
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Re: 10k post
[ QUOTE ]
[ QUOTE ] [ QUOTE ] In ten years I have no idea but I imagine I will be managing my own portfolio in the stock market. I believe I have taken steps in the last 3 years that will allow me to do that even after deciding to play professionally for 2-3 years [/ QUOTE ] ahnuld, i assume you are playing poker to build the capital to be able to make a lot trading? what type of money do you expect to make in stocks? how active will you have to be with the type of trading you're going into? [/ QUOTE ] Yeah, im going to play professionally for a few years and try to build a pretty solid capital base. I intend to invest and play poker at the same time however as ill have alot of spare time available to do my own research. I hope to beat the market long term by a few points a year, which is all you can really hope for. Ill be active but long term, meaning ill buy whenever I see a good opportunity but hold for a few years on most of my buys, with a warren buffett philosophy in mind. I might also dabble in RE if I see some good opportunities which i expect to see soon (3-18 months) [/ QUOTE ] cool. what type of capital do you need for your trading so that trading will be making you more than poker? as soon as that point comes are you planning on making the switch right away? what are you plans when you are done playing poker?(meaning since you're trading strategy will allow you to make your money mainly passively, what will you do with all of your spare time?)
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#87
10-02-2007, 09:51 PM
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Re: 10k post
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Are you planning to play pro once ur done with school? If not, how much money would it take for u to do so? IF yes, what do u think u will be doing in 10 years. I am planning on going pro when I finish my degree this spring (on time). I thought for awhile that I would drop out because the allure of poker money is pretty strong, but I stuck through it primarily because of the limiting effect that would have had on my life. Poker is very profitable and I love it, but im sure after a few years of playing pro I will become very very bored with it. Therefore its crucial to graduate with a solid GPA and CV. Thats something that never made sense to me that I see all the time. People like us, in school, choosing the in between path. Its so stupid, yet probably most of you do it. You play 20-30k hand months in school and get mid to crappy marks. Why? If you quit and went pro you could get twice as many hands and presumably make twice as much money. Most people will cite the fact that they too want a backup plan. But what they dont realize is they havnt provided themselves with one. The job markets can be a surprising place. If you take a few years off to play cards and want to come back at 24, it can be next to impossible to get a good job. The only way to even have a chance is if you excelled at school and have a good resume. if you have a 3.0 GPA and a Bcom or BA who cares? You honestly think anyone would hire you for any sort of attractive job? The only ones available will be starter jobs. These will be low paying jobs that provide very little challenge and stimulation. It would be much more boring than poker. Therefor people trying to do both are shooting themselves in the foot. Figure out what you want and go for it, but give it your all. If that means dropping out with no looking back, fine. If that means, like me, you want the safety net of a degree, then finish school. But dont muddle around lying to yourself that you can get back into the workforce at a respectable place because it just wont happen. The world is becoming more and more specialized all the time and you have to choose what you will focus on as well, because trying to be a jack-of-all-trades will not work in this case for the majority of people. In ten years I have no idea but I imagine I will be managing my own portfolio in the stock market. I believe I have taken steps in the last 3 years that will allow me to do that even after deciding to play professionally for 2-3 years. [/ QUOTE ] This post is a little misguided. Mostly because a lot of people don't know what they will want to do for the rest of their lives while they are in college. I still don't and I have been working for a year. There is nothing wrong with having a job and playing poker on the side. Also, I think it is wrong to say that you must "focus on one specialty." Those "specialty" jobs are being outsourced more and more everyday. Anyone that has worked in the last 5 years will tell you that you need to be able to adapt anlearn new things in this world. Having one "specialty" is kind of like not diversify your stock portfolio.
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#90
10-03-2007, 08:16 AM
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Re: 10k post
I dont mean to undercut Ahnuld or hijack his thread which is a good one, but I would like to mention that I have 80% of my roll invested in the stock market and have been investing / trading / speculating with both stocks and options for many years and would also be happy to answer any questions anyone might have.
The majority of guys on this forum are very young and have very little concept of personal finance and considering alot of them have a massive amount of disposable income for their age, they really should be learning this stuff. For instance, if you play $5/$10 with a $50K roll, there is no reason to have all of it sitting in the bank. You rarely lose more than 15-20 buy ins so why not have $30K invested? Thats the bottom $30K of your roll that will most likely never be touched, so it should be working for you. If youre investing with Vanguard mutual funds or a discount online broker, you can get your money in a matter of 2-3 days if you ever needed it in an emergency.
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