Investing in the stock market is easy...
...as everyone knows: all you have to do is buy low and sell high. Any fool can do it.
And playing poker is easy too. All you have to do is lose small when you lose, and win big when you win. How hard can that be?
Yet somehow there just aren't that many wildly successful investors or poker-players.
posted by Cardgrrl @ 3:01 PM
3 Comments:
It's a good analogy for poker. People always focus on the short term but for both its about results over several years, not one bad session or days or months.
I caught this show recently called 'Million Dollar Traders' which was great from a poker perspective. All the newbie investors had traits that relate directly the common poker traits.
http://www.totaltrader.com.au/3274/million-dollar-traders-tv-show/
FG
Pretty sure it was Chip Reese who said something to the effect of:
You lose 40% of your sessions so you can either get used to that or spend 40% of your life miserable.
Also, it's ridiculously hard to lose small because getting dealt the second best hand repeatedly makes your bankroll turn into a sieve.
Good call Cardgrrl.
I think that poker is a great medium for learning how to invest and I'm putting that into action with my Texas Holdem Investing course.
Learning to lose small is like learning to cut your small losses quickly. And the analogies go on.
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