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it's poker. Hope you know the nomenclature, 72o ( 72 offsuit ) is the worst hand in NLHE. AA is the best. AA vs 72o is like 88 - 12 % ( and split included ).
Anyway someone is giving you an option that you can, Now. By one time take everything you have and if you win with Aces you make it twice as much ( so if you have $1 000 000 you get $2 000 000 also if you have 1 house you get 2 houses ). But, if you loose, every single thing, beside your life, is being taken from you ( even your clothes you get naked ). Ofc, all-in pf. would you do it ?
Poll: would you do it ?never, no (17) 81% definately, yes (4) 19% maybe (0) 0% i think not (0) 0% 21 total votes Your vote: would you do it ? (Vote): definately, yes
(Vote): maybe
(Vote): i think not
(Vote): never, no
 
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The question is very stupid as it is far more difficult to go from 0 -> x networth than it is to go from x -> 2x networth. The marginal difficulty in gaining wealth decreases the more wealthy you are, thus it is never logical to choose yes for this question.
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The odds are really bad, no way.
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There's a difference between taking a intelligent risk and taking a stupid risk. I'm not a gambler. So I answer "no, never".
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BR management says : no.
Never bet everything. Only make lots of bets that you can afford to lose on but will in the long run make you money.
I have absolutely abysmal luck tho (lol, so nearly everyone would claim), so I try to limit that element as much as possible and don't enjoy games where I can play well but still lose because the numbers come up wrong. Those games are hard to learn, because even if you're playing bad most of the time, you'll remember the times you played ok and how they still didn't work out. You need to play well 100% of the time for it to work out in the long run, and I prefer immediate results to keep me motivated.
If I had very little and could easily make it back doing something normal, then BR management doesn't matter. But having what I already have and going to 0, I can't really make that back in a day. It's irresponsible and basically a gambling problem if you can't see that making that bet often enough you quickly lose everything you have, so it's not worth it to bother doing it even once.
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On December 01 2012 07:55 AssuredVacancy wrote:
The question is very stupid as it is far more difficult to go from 0 -> x networth than it is to go from x -> 2x networth. The marginal difficulty in gaining wealth decreases the more wealthy you are, thus it is never logical to choose yes for this question.
I think a true point, thx
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I think even stats says AA will win but for that hand, anything can happen. The other guy can flop a pair and have a three of a kind, you still fucked. It is not worth it.
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yes. I'll use monies from my highly-leveraged hedge fund and let taxpayers bail me out when I lose.
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Sure, but that's just a function of having no one relying on me and having the option to rebuild from 0. If either of these were untrue or losing everything would have a significant impact on my future earnings the answer would be different.
For most people the answer would be no but I think many would answer no for the wrong reasons. I.e a misestimation of what losing all their money and possessions would mean for their quality of life.
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I love how it says "defiantly, yes" like it'sthe wrong answer lol
My answer would be fuck no because I kind of like having heat during the winter lol
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Starting with nothing, certainly!
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Yeah, slightly more than a one in ten chance that I'll lose everything is a bit too much just for a doubling. To be honest a doubling wouldn't help me that much anyway...maybe for a few years, but then I'd have to rely on stable income again. And if you were a millionaire already then you probably have more than enough money to need to double anything.
So I guess my answer is no, in general.
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Even if I would lose I have my family and friends to fall back on, not to mention the great welfare in my country. I would take that risc without hesitation.
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Yeah, this would make a lot more sense if I could do this using only 1% of my cash at a time.
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EPT
