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#72
05-31-2007, 07:20 AM
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Re: My Answers
[ QUOTE ]
I'd wager my entire bankroll and then sell most of it in pieces of myself at slight discount. [/ QUOTE ] That is smart. I'd wager my entire bankroll and sell 100% of my action at the same odds - I bet you'd get plenty of takers, and you lock in the profit for no risk. 
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#73
05-31-2007, 07:42 AM
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Re: My Answers
I would bet 75%. [censored] it.
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#74
05-31-2007, 08:06 AM
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Re: So Am I A NIt?
[ QUOTE ]
im a giant nit because currently I wouldnt do this with more than 2% of my bankroll (which is like 86k). I just wouldnt want to risk more than like 2k on something like this, the problems having less money outweigh the rewards of having more money. [/ QUOTE ] how can you play 10/20 nl and say this?
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#75
05-31-2007, 11:18 AM
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Re: So Am I A NIt?
I'm not a gambling expert but wouldn't the better question be how much money you're willing to gamble on an even money coin flip? That seems like the kind of thing a nit would have a real problem with because nits demand an edge in every bet they take.
By the way, I'm a nit and I wouldn't make an even money coin flip for very much at all, maybe 1/2000th of my net worst at most, and only if I was goaded into it by a friend.
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#76
05-31-2007, 11:48 AM
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Re: So Am I A NIt?
[ QUOTE ]
I'm not a gambling expert but wouldn't the better question be how much money you're willing to gamble on an even money coin flip? That seems like the kind of thing a nit would have a real problem with because nits demand an edge in every bet they take. By the way, I'm a nit and I wouldn't make an even money coin flip for very much at all, maybe 1/2000th of my net worst at most, and only if I was goaded into it by a friend. [/ QUOTE ] No, it wouldn't. And you sir are a nit.
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#77
05-31-2007, 11:56 AM
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Re: So Am I A NIt?
[ QUOTE ]
a) i think david would bet ((1.2 * .5) - .5) / 1.2 = 1/12th of his bankroll http://en.wikipedia.org/wiki/Kelly_criterion [/ QUOTE ] This isn't a repeated game.
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#78
05-31-2007, 12:12 PM
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Re: So Am I A NIt?
[ QUOTE ]
[ QUOTE ] I'm not a gambling expert but wouldn't the better question be how much money you're willing to gamble on an even money coin flip? That seems like the kind of thing a nit would have a real problem with because nits demand an edge in every bet they take. By the way, I'm a nit and I wouldn't make an even money coin flip for very much at all, maybe 1/2000th of my net worst at most, and only if I was goaded into it by a friend. [/ QUOTE ] No, it wouldn't. And you sir are a nit. [/ QUOTE ] Care to explain why it wouldn't? I'm a nit and I would take 7:5 odds on a $20K flip. That's just a good investment. But I wouldn't bet even money on a coin flip for more than $100, and preferably less. I think that a true non-nit (eg. Grimstarr) would bet huge amounts of money on an even money flip, and even more ridiculous amounts of money on a flip getting 7:5. So what percent of your net worth would you wager on an even money flip?
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#79
05-31-2007, 12:55 PM
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Re: So Am I A NIt?
[ QUOTE ]
[ QUOTE ] a) i think david would bet ((1.2 * .5) - .5) / 1.2 = 1/12th of his bankroll http://en.wikipedia.org/wiki/Kelly_criterion [/ QUOTE ] This isn't a repeated game. [/ QUOTE ] Doesn't need to be.
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#80
05-31-2007, 01:02 PM
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Re: So Am I A NIt?
I think a lot here depends on your opportunity cost. Do you think you have a better expectation in risking your money someplace else? If offered this deal 50 years ago I think Warren Buffett would have turned it down for even greater odds probably. He knows he can compound his money at super high rates in investments with little to no downside and tremendous upside.
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