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Posted by Ed Reif» on - - 0 comments»


Viva Venetian Macau For Valentine's Day
In a rare display of compassion for casino owners, now that Las Vegas Sands-owned Venetian Macau posted Q
4 loses, Ed Reif has decided to "Go East, Far East", Going on the Dopamine Power Diet—In Search of the “All-In” Button.
I'll be headed for Macau. The Venetian is among the city’s largest venues but there's no Poker! The Grand Lisboa is on my hit list and so is The Wynn.
I hear the tables are soft as most players are coming straight from the Bacarat tables, with many Chasing,or staying in a pot to make an unlikely hand, usually (but not always) with poor odds. Poker is a lot like investing---both are games of incomplete information.
Graduating from the West point of Capitalism, Harvard University won't inform my poker. Behavioral finance can . If I am to have a Superlative performance, it will not be just the ability to eliminate chance, but also to recognize opportunity.
Many irrational poker-player behaviors actually “make sense” when viewed from a Behavioral Finance point of view. I'm sure I will be spotted the nuts in the hopes that Lift Ticket will suck out with a miracle one outter. On any given hand, poker is about 85% luck and 15% skill, but
over the course of thousands of hands, it is the reverse - 15% luck and 85% skill. See Poker's Pattern's Are Not Our Own.
Good Investors know the 60/40 end of a proposition--- when to hold em and when to fold em--- when you have some competitive advantage over somebody else.
Good investors know when the odds are in your favor and bet, or know when the odds are not in your favor and get out of the way. You don't "invest", unless you have some competitive advantage.
Impossible Is Nothing.
Money can't buy happiness, but it can buy chips, which is kinda the same thing. See My Brain Made Me Rebuy!
I have a complete understanding of Poker's Chemical Romace---DOPE-amine, the neuroeconomics of a good buzz and elation.
Let's see when my LEFT Brain gets good at telling the RIGHT brain what to do. Nothing Will be The Hardest Thing To Do.
Neuroeconomics--making "emotional" decisions and their economic sigificance is the deciding factor. See: The Demographics of Overconfidence.

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