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#11
10-20-2007, 12:48 PM
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Re: You need to show results before you get any respect.......
[ QUOTE ]
I don't even share picks with my friends. [/ QUOTE ] Sound like a great guy... 
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#12
10-20-2007, 01:06 PM
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Re: You need to show results before you get any respect.......
Henry are you serious? Why do successfull stockbrockers manage money? Why don't they sit home and crush it in their own accounts? They want to reduce variance, get some gauranteed income and this does not mean they can't be profitable on their own.
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#13
10-20-2007, 01:48 PM
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Re: You need to show results before you get any respect.......
The stockbroker analogy isn't accurate. The amount of money managed is sufficiently large that taking a percentage for managing it is significant. That is not true for selling picks.
Reducing Variance is great and it almost makes it sound legitimate until you think about it. Given what the avg tout service charges the total revenue from selling picks vs what I'd expect someone to be wagering the effect on their variance would be insignificant. If it is significant then they must be making fairly small personal wagers and I'd question why they are so conservative with their own money yet feel comfortable selling their picks. The only way I'd agree with your points is if we are talking about someone who either charges a very significant amount per season or someone who sells thousands of packages. --------- [ QUOTE ] [ QUOTE ] I don't even share picks with my friends. [/ QUOTE ] Sound like a great guy... [/ QUOTE ] Wealth is relative. If everyone had a million then being a millionaire wouldn't be special.
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#14
10-20-2007, 02:12 PM
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Re: You need to show results before you get any respect.......
[ QUOTE ]
The stockbroker analogy isn't accurate. The amount of money managed is sufficiently large that taking a percentage for managing it is significant. That is not true for selling picks. Reducing Variance is great and it almost makes it sound legitimate until you think about it. Given what the avg tout service charges the total revenue from selling picks vs what I'd expect someone to be wagering the effect on their variance would be insignificant. If it is significant then they must be making fairly small personal wagers and I'd question why they are so conservative with their own money yet feel comfortable selling their picks. The only way I'd agree with your points is if we are talking about someone who either charges a very significant amount per season or someone who sells thousands of packages. --------- [ QUOTE ] [ QUOTE ] I don't even share picks with my friends. [/ QUOTE ] Sound like a great guy... [/ QUOTE ] Wealth is relative. If everyone had a million then being a millionaire wouldn't be special. [/ QUOTE ] So you dont want your friends to win money, just yourself? Pretty sad life you must lead.
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#15
10-20-2007, 02:28 PM
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Re: You need to show results before you get any respect.......
[ QUOTE ]
So you dont want your friends to win money, just yourself? Pretty sad life you must lead. [/ QUOTE ] I'm actually completely neutral to my friend's financial situation. Giving them picks though has plenty of downside and no upside. 1) If I tell some I have to tell all. The drama that would result from sharing picks with a subset of friends would in the end lose me friends. 2) I've been doing this for over a decade. They haven't. The possibility for them to do something stupid with respect to money management is too great. I don't want to be responsible for that. 3) In the end if one person does all the work, brings all the skill and basically is 100% responsible for the outcome but shares the spoils with others he'll grow to resent the freeloaders. I don't want to grow to resent my friends. 4) I already have enough people who hang around me because I keep an open tab at my table and know a lot of attractive girls. If I start to give away free picks then I'm just increasing the number of users who will come around and also the uncertainty factor with respect to any new people I meet. 5) It decreases the value of my relative financial position if I increase theirs.
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#17
10-20-2007, 02:45 PM
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Re: You need to show results before you get any respect.......
[ QUOTE ]
[ QUOTE ] So you dont want your friends to win money, just yourself? Pretty sad life you must lead. [/ QUOTE ] I'm actually completely neutral to my friend's financial situation. Giving them picks though has plenty of downside and no upside. 1) If I tell some I have to tell all. The drama that would result from sharing picks with a subset of friends would in the end lose me friends. 2) I've been doing this for over a decade. They haven't. The possibility for them to do something stupid with respect to money management is too great. I don't want to be responsible for that. 3) In the end if one person does all the work, brings all the skill and basically is 100% responsible for the outcome but shares the spoils with others he'll grow to resent the freeloaders. I don't want to grow to resent my friends. 4) I already have enough people who hang around me because I keep an open tab at my table and know a lot of attractive girls. If I start to give away free picks then I'm just increasing the number of users who will come around and also the uncertainty factor with respect to any new people I meet. 5) It decreases the value of my relative financial position if I increase theirs. [/ QUOTE ] I couldnt imagine carrying so much about money. [img]/images/graemlins/frown.gif[/img]
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