Thursday, August 15, 2013

stok tots: trading and poker (15 aug 2013)

Investing and trading bear another important similarity to poker in this way: The profitable practitioner does not care if you “believe” he is profitable. He has no need to justify the theoretical merit of his actions to an observing academic audience. He just goes on doing the hard things that his opponents do not do, or don’t know how to do, and makes a lot of money and is satisfied.