Archive for July, 2006

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Book Reviews – Poker

July 31, 2006

Okay here’s a quick review of three books that I recently read.

1. Poker the Real Deal. – Phil Gordon. Okay, I saw this at Chapters, flipped through it and like it. It talks about the very beginnings of poker, the history of cards, and the history of poker. It also takes you on a tour of how top play for a living: playing online, small stakes, medium stakes, and then high stakes. Interjected throughout is Phil Gordon’s take on various aspects of poker and each section has a defining moment where you make the call on a hand. All in all a great read, and it continues the Phil Gordon tradition of picking on Phil Hellmuth.

Rating – Recommend

2. Phil Gordon’s Little Green Book – Phil Gordon. At 280 pages it may seem big, but it’s actually not. Phil covers alot of ground from regular odds calculations, to implied odds to “tilt” odds. He also discusses strategic play, which is something I am eager to work on.He starts with hands and positions to play before the flop and after the flop as well as on the turn and on the river. He has a special section on tells as well as tournament strategy, psychology, card odds and miscellaneous. All in all another great book. While lacking in detail in specific areas, it’s a great first book to read for someone just starting out in No Limit Texas Hold-Em.

Rating – Recommend

3.In the Money – Antonio Esfandiari – Another one of the official WPT books. I’m ¾’s of the way through Erick Lindgren’s book as well. Overall on okay book. It talks about how Antonio got started playing with Phil Laak. A couple of people chime in with little quips as well. All in all a light read, but nothing too big of a takeaway here. The main thing I pulled was about bad beats. The better a player you are the more likely you are to take a bad beat. Hence, I will try and take Antonio’s lead and never talk about bad beats again.

Rating – Better than a kick in the ass.

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Wargaming – ASL & Combat Mission

July 27, 2006

ASL is a pretty complicated game. Well, ASL is actually a very complicated game. Learning it is time intensive, as is playing it. The rulebook is full of legalese which leads to sleaze and cheese. Overall, between two good players, an extremely realistic simulation of a WWII engagement can be recreated. Given the barriers to entry, as well as the cost, ASL occupies a pretty niche target space. That being said the people who do play are pretty hardcore. A while back (2000?) the maker of ASL, Avalon Hill went under. So for a while there was a dearth of material and players wondered if the game would die out. There were some 3rd party products being put out, by Critical Hit, Schwerpunkt, and Heat of Battle, but many in the hobby wondered if this would merely halt the onrushing tidal wave of obsolescence that was threatening to wash away the cardboard board-game industry.

In the end, Curt Schilling stepped in a bought the rights to ASL from Hasbro (which had acquired Avalon Hill for the rights to the game Civilization among others), but saw no future in ASL. At the same time this was happening, I started to revive my flagging interest, and purchased the remainder of the outstanding modules. These modules depicted Orders of Battle(OOB) and one could simulate virtually any action in WWII, from the steppes of Russia, to the jungles of Southeast Asia, to the bocage in Normandy. And simulate it pretty realistically in fact.

The big unknown in life and war is information. The greater the information asymmetries between 2 combatants, the greater edge the more informed side has over the other. While this edge can be exploited tactically, as the Germans were wont to do in the Eastern and Western Front, if one does not do this strategically, one is bound to lose. ASL accurately simulates the fog of war, as units can be commanded to do basic things with ease, but any sort of complex action can be failed and the enemy can also interfere in the interim. Unlike today’s shoot’em up video-games, in which every combatant is an uber-soldier, ASL realistically displayed the differences in qualities between soldiers of different nations.   

 These differences were displayed in subtle factors, but all in all they allowed each country to have a “flavour” that allowed one to play it relatively consistently over many battles. Americans were prone to break under pressure but were also easier to rally. The Japanese were able to go beserk and ignore casualties. The British were unlikely to break under pressure. The Russians had hordes of troops. And the Germans had few troops and leaders, but they tended to be high quality, especially in the early stages of the war.

So while the game was intricate and rich in detail, I really had no one to play against. I lived in a small town, and the odds of finding someone who would be interested in the game were quite low. When I moved to Toronto, my odds increased. Ironically, I was working out at the gym, when I spotted the person who would teach me the game. He was wearing an ASL t-shirt, which is how I made the connection. We played sporadically over a couple of years, as he had small children, and I was studying for my CFA charter. We had a blast playing. Intuitively I knew the correct strategies, but his assistance with navigating the rules helped me to put theory into practice. And he was a fair opponent, which made it all the more enjoyable. I also started playing against another player, who is one of Toronto’s big poker players (in term of reputation, he has his own podcast). He is also a fan of fantasy baseball, which is something I am slowly working my way back into. All of these 3 games revolve around statisitics and probabilities.

So, segueway into 2005. Another friend that I began playing ASL with had shown me this computer game, that I was not intially interested in, Combat Mission. Facing a dearth of opponents, I checked out the website, downloaded the demo, and played. I was hooked! The computer was actually relatively decent, and the ability to play against humans was definitely enticing. I managed to get a few opponents on-line and it was a blast. I haven’t actually played in almost 8 months, but I look forward to playing again once school winds down. My favorite scenario was a late ‘44 scenario. I was playing online against an opponent from Montreal who was amazing to play against. Good player and timely in getting turns back to me. I commanded a rag tag force of SS troopers defending some random Austrian village. I am situated inside the village, which has a paved boulevard and a couple of small houses on the outskirts. My opponent starts on the other side a hill. I had an 88mm AT gun a 75mm AT gun, about 10 squads, a Panzerschreck squad, a Panther and a Mark IV. The Russian player had some guards units, 1 or 2 ISII’s, 5 or 6 t-34/85’s and random infantry support units. I left a Mark IV in LOS early and he holed it with a T34. I picked off 2 T34/85’s with my 88, which was sitting on the other side of a bridge, but he nailed that pretty quick (I think he had some half-tracks too). My 75 seals off a street after holing a couple of T34’s, but he has 4-5 T34’s against my lone panther, which is sitting in the middle of a wide boulevard. He rushed 2 T34’s and and ISII at me. I hole a T34, then my infantry fausts one, and I manage to immobilize the ISII which the crew promptly abandon. While my entire force is decimated, except for the panther and a squad of infantry I have placed in a building overlooking the boulevard. While my Panther is engaging the frontal assault he has run the other T34 down the side, and it’s about to come up on my Panther from behind. In an amazing finish, my squad gets off a lucky hit with the faust, and my opponent resigns. It was an amazing game!

My other favorite scenario is a rearguard action during operation Bagration (Russian Summer Offensive 1944). You have a stack of Panthers (7 or 8 ) and a platoon of Mark IV’s (4) and some rag tag infantry. I attempted a rearguard action with the Mark IV’s fleeing to the rear and some of my Panther hanging back. My opponent was good, and just bum-rushed me with around 40 T34/85’s. Not sure if he had any ISII’s but I’m sure he had some SU85’s as well. We start trading 2 for 1’s, which is bad for me as I need to get around 3.5 to 1 to survive. He plays really well and I manage to get down to 5 tanks with about 15 of his left. I played poorly with the MKIV’s, as they are better for pure ambush situations. Although the MkIVcan penetrate the T34/85’s at a distance, any return fire is an almost automatic kill, whereas the Panthers are more likely to get bounces with their sloped armour. Even the addition of the elite ace Ernst Barkmann is unable to prevent my defeat. Although I was able to pull out tactical victories, my strategic misuse of my armour cost me the game.  

I highly recommend this game to those who can’t get their fill of ASL! Multiman Publishing is in the process of putting out starter sets to get new players interested. Overall the reviews look good, and I can’t wait to find some spare time to bust out the cardboard and break out a game of ASL!

Daily Quote: Chuck Norris “Men are like steel. When they lose their temper they lose their worth”

For a great Chuck Norris website, check this out!

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WARNING DO NOT READ IF YOU ARE UNABLE TO FORM YOUR OWN OPINION AND PREFER HAVING IT SPOONFED TO YOU BY CNN

July 26, 2006

Wow,

How exasperating is this world. It’s like watching a train wreck. I should be studying right now but I just got this off of Yahoo news, my preferred news source (that and the BBC).

Howard Dean has accused the the Iraqi PM of being an anti-semite. This is because the Iraqi PM has spoken out against Israeli aggresion against Lebanon but not against Hezbollah. Now anti-semite is a loaded word. It’s a word that can end careers in certain industries. It carries alot of weight (disproportionately so). That is a topic onto itself and one that I won’t get into here. But here’s the beauty of Howard Dean’s AIPAC inspired assualt. There’s a good recent post about AIPAC and it’s disproportionate influence over the US here.

Here is the definition of Semite: Descendant of Noah – 1. A member of a group of Semitic-speaking peoples of the Near East and northern Africa, including the Arabs, Arameans, Babylonians, Carthaginians, Ethiopians, Hebrews, and Phoenicians. 2. A Jew. 3. Bible A descendant of Shem.

So to be anti-semetic, one has to be against arabs and jews. Wow, so the Iraqi PM (an Arab) is against Arabs. Nice. WOW. I hope this guy gets elected president next. WOW.

Here’s a great quote from George Washington, which is especially important for America at this time: “Excessive partiality for one foreign nation, and excessive dislike of another, cause those whom they actuate to see danger only on one side, and serve to veil and even second the arts of influence on the other. Real patriots, who may resist the intrigues of the [favored nation], are liable to become suspected and odious; while its tools and dupes usurp the applause and confidence of the people, to surrender their interests. The great rule of conduct for us, in regard to foreign nations, is, in extending our commercial relations, to have with them as little political connection as possible.” – George Washington

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New Links + Long-Term Goals + Niederhoffer felted again???

July 25, 2006

I have added some new links. As this site is a living site, I hope to continue to add links that I enjoy, and that others will also find useful. That being said, I want to try to keep it under 40 or so, as any more than that will tend to obfuscate readers.

I think after working where I am for a little while, I will go into either trading and then portfolio management, or directly into portfolio management. I also want to run an e-commerce web site, so this is why I have been working on my blog. Any tips or advice any readers have, would love to hear it. I also want to start putting up achievable goals that I can reach. I think bodybuilding is amazing for teaching someone discipline and also about setting goals. In life you either grow or shrink, there is no happy medium.

I hope to move into Portfolio Management. As I mentioned, the stock market to me is just another game, and now I want to beat it. They key’s I believe are Risk Management, Discipline, and Exit Position Sizing. I also hope to get a couple of my friends interested, as I think they are really bright guys and would do well. I keep meeting new people, so as I get better acquainted with my new friends I will have a better idea of where their strengths lie as well. As for my older friends, I would like Jay Ro to be my Quant guy: (he’s sort of like Paul Magriel, of X-22 fame, except replace his fascination with beating games with nubile B movie actresses). I would also like Thumbs as my portfolio advisor/macro guy. Thumbs has always had a great idea of how to break games. Why not break the ultimate game of them all?

I recently read the Education of a Speculator, which I believe Victor Niederhoffer wrote in order to make a living after he got crushed by writing out of the money puts during the Asian contagion. Word on the street is that he got busted again during the recent “correction”. Those who play with fire, and all that…

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Poker and the Stock Market

July 24, 2006

Throughout the course of this blog I will point out the similarities that I believe exist between “investing” in the stock market and paying poker. In effect, one can think of these both of games, obviously poker more so than the stock market. By drawing upon both my love for games and my strong background in game theory, I hope to be able make the investing decision much less murky and more rewarding.

As I mentioned, this week is crazy busy, so I have to keep it brief. I am thinking of getting these chips for what will be a bi-monthly poker night. I am hoping to get a regular league out of it. It should be some good competition, with my original poker group, and a bunch of Toronto finance people (Lane, Lane’s brother AKA Goulet, Marc M, Ravi K), and a group of my MBA peeps (JM, Chowder, Mr Bala, Sami Z). My crazy girlfriend may play too, crazy cuz she’s busted me twice when I got all excited on flopping a straight and she flushed me both times! Her bro and his fiance may play too, as they are really good. I’m hoping the Italian stallions (aka Mr Tucci and Mr Simone) are able to make it out as well. Should be good times. 

Anyway, here are the chips. I am planning on getting these plaques for a tournament game as well. I calculated what I thought would be the optimal chip distribution and have posted below for both cash games and No Limit tournament:

100 Blue – $.25

200 White – $1

100 Red – $5

100 Green – $25

70 Black – $100

40 Purople – $500

20 Orange – $1,000

10 Plaques – $5,000

This should be able to handle 10 people easily for both cash games and tournaments. I like the set, it’s really cool playing with the real casino chips, I love the Egyptian theme, and I like the idea of a $10,000 chip value just like the WSOP, and finally the cool European style plaques. Keeps it interesting…! 

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Top 10 List – GI Joes

July 23, 2006

I have a really busy schedule this week as I am taking courses at work and I a have an exam Saturday and class all day Sunday and Monday. As a result my posts this week will be short. I watched GI Joe as a kid. I loved the series and found the movie so-so. I also read a couple of the comics, and recently picked up all of the Graphic Novels of the original comics. It’s funny how little things change. Watching the american “escapades” around the world, the administration tries to script it as similar to a GI Joe episode as possible. Lots of action, no one dies and the “good guys” always win. Little did I know at the time, that what was missing in GI Joe was the application of Einstein’s theory of relativity. So what you see in GI Joe and on CNN is the pre-Copernican view of planetary motion. You can fool some of the people some of the time, and all that…  And with a tip of the hat to Matty P, here goes: 10. Wild Bill – aka Dennis Bentley 9. Spirit 8. Destro 7. Stalker 6. Scarlett 5. Baroness 4. Wild Weasel 3. Snake Eyes 2. Storm Shadow 1. Cobra Commander

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My Poker Group – Part 1: Tournament Specialist, Thumbs, Jay Ro

July 20, 2006

So I got the poker bug seriously about a year ago. When I played Magic “professionally”, there always people playing poker somewhere close by. My friends and I were more focused on Magic so I never really got into it at that point. One of my best friends JW, AKA the most virile man on the planet, and the man now known as the “tournament specialist” taught me how to play. We just played regular draw poker a couple of times, but with 2 people it’s kinda boring. The rest of the players I play with “regularly” are really good too: Thumbs, Goat, JayRo, The Baron and Equinox. I have included a list of the players below and what I feel they are most likely to go “All-In” with.

JW AKA Tournament Specialist: I’ve known JW since cub-scouts. JW has blossomed into quite the player since we intitally played. He has a good read on hand strengths and the quality of players. And he is pretty aggressive. His favorite move is to pretend not to look at his cards pre-flop and re-raise you. We call him the tournament specialist because he won a pretty large tournament a little while back (for rural Ontario). He knows the odds and is tough to read.

JW All In Hand: AKs 

Thumbs: Thumbs and I have played Magic head to head for years. Thumbs likes to play and think outside the box. He has a very sarcastic sense of humour and finds it funny when people fall down, even little old ladies (see his blog). I remember we watched Saving Private Ryan together. The theatre was packed and the movie started. The first 10 minutes are pretty intense, and you could hear a pin drop. Until the once scene, where some American GI got his arm blown off and picked it up. The silence of the theatre was broken by Thumbs cackling beside us. I think it was the Insectoids that warped his mind.

He did amazing at Pro tour Chicago a year after me, because he created a deck that was all his own. Most peole came there with copied decks, and thus were unaware of how to adjust, becasue no one could tell them how. I remember Thumbs would always bust out a new deck before a major tournament back in our old Magic stomping grounds in Milton. In the interim, players would get crushed, and then an iterative feedback loop would result, whereby the surprise effect of his strategy was eventually negated. I am trying to currently trying to convince Thumbs to avail himself of some material on the Stock Market, as I am certain he could inflict a beating there, once he applied himself.

Thumbs All In Hand: JJ   :)

JAYRO (AKA Ace-X, see below): I’ve know JayRo since Grade 7. JayRo has a sharp acerbic sense of humour. And you knows the entire film roster of any B actress like the back of his hand. he could tell you what movie every person from the cast of “Saved By The Bell” has starred in. He is like me a big stats fanatic. We were about equal in stats fanaticism in high school/university but the baseball strike kinda killed my love for the game (which I hope to resurrect). The ironic thing is that until recently, he usually fared pretty shitty in our sports pools. Go figure! Jay Ro is one of those math wizard kids, and knows the odds down to the decimal point. He is a strong player, and you can always count on him to have an ace (hence Ace-X). In fact every hand I’ve showed down to him has has an ace. One memorable call, which I now realize was really bad, was a preflop raise by him, a re-raise by me, and then an all-in by him. At that point I should have realized he had pocket bullets, but I was hoping he had some garbage. Anyway, I call with Phil Ivey’s favorite hand, A-Qo. I am totally dominated. It’s the Queen of diamonds, and I end up getting the flush… :)

Jay Ro All In Hand: AA

Quote of the Day (For Jay Ro): “The power of observation is commonly called cynicism by those who have not got it” George Bernard Shaw

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Time for a little comedy…

July 19, 2006

My first ever poll! 

Okay, i just find this video hilarious. And this one too. And this one.

And now for some reading. This one entertains me. 

Daily Quote: “Never interrupt your enemy when he is making a mistake” Napoleon Bonaparte

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Books – Stock Market/Finance

July 18, 2006

Working in Capital Markets for a big bank is interesting. On the one hand, you get to be involved in a lively and bustling workplace where decisions have real effects that are easily measurable. On the other hand, There is no room for error and the time pressure can be intense. Having recently started, I definitely appreciate what it feels like to be expected to hit the ground running. I am a CFA charterholder and work in Technical Analysis. For those who don’t know, the CFA and most university education in finance is based on the premise that one cannot exploit the market using publicly available information. Technical Analysis is based on the premise that one can exploit public information (price and volume) in the forms of trends and patterns.

For whatever reason, my life is full of these contradictions.But I enjoy it as it allows me to always view things from a fresh perspective. That being said, I’ve devoured the following books within a pretty short timespan. I have a pretty strong fundamental background due to my CFA, so this allowed me to totally polish up on my Technical Analysis skills. As per my previous list, the bold indicates read/reading, and the % indicates how far through the book I am. So without any further ado, here is the list:

  1. Manias, Panics, and Crashes: A History of Financial Crises, 4th Edition
  2. More Than You Know: Finding Financial Wisdom in Unconventional Places
  3. Elliott Wave Principle: Key to Market Behavior
  4. Beating the Street
  5. Bollinger on Bollinger Bands 10%
  6. One Up On Wall Street : How To Use What You Already Know To Make Money In The Market
  7. Theory of Investment Value
  8. Learn to Earn : A Beginner’s Guide to the Basics of Investing and Business
  9. The Worldly Philosophers : The Lives, Times And Ideas Of The Great Economic Thinkers 20%
  10. Timing the Market: How to Profit in the Stock Market Using the Yield Curve, Technical Analysis, and Cultural Indicators
  11. Trader Vic–Methods of a Wall Street Master
  12. Money Game 30%
  13. The Sovereign Individual : Mastering the Transition to the Information Age Labyrinths of Reason: Paradox, Puzzles, and the Frailty of Knowledge
  14. Unexpected Returns: Understanding Secular Stock Market Cycles 50%
  15. Beating the Business Cycle: How to Predict and Profit from Turning Points in the Economy
  16. Ahead of the Curve 10%
  17. The Poker Face of Wall Street
  18. Mean Markets and Lizard Brains: How to Profit from the New Science of Irrationality
  19. Stan Weinstein’s Secrets For Profiting in Bull and Bear Markets 20%
  20. Accounting for M&A, Credit, & Equity Analysts
  21. Contrarian Investment Strategies in the Next Generation
  22. Just One Thing: Twelve of the World’s Best Investors Reveal the One Strategy You Can’t Overlook
  23. Applied Equity Analysis : Stock Valuation Techniques for Wall Street…
  24. Financial Statement Analysis: A Practitioner’s Guide, 3rd Edition [Hardcover...
  25. New Market Timing Techniques: Innovative Studies in Market Rhythm & Price... 50%
  26. Candlestick Charting Explained
  27. The Right Stock at the Right Time: Prospering in the Coming Good Years
  28. Long-Term Secrets to Short-Term Trading [Hardcover] by Williams, Larry
  29. Advanced Swing Trading: Strategies to Predict, Identify, and Trade Future…
  30. Tools and Tactics for the Master DayTrader : Battle-Tested Techniques for Day, Swing, and Position Traders
  31. Fire Your Stock Analyst: Analyzing Stocks On Your Own
  32. Stocks for the Long Run
  33. Trading Commodities and Financial Future: A Step by Step Guide to Mastering the Markets
  34. The Master Swing Trader : Tools and Techniques to Profit from Outstanding Short-Term Trading Opportunities
  35. Techniques of Tape Reading
  36. One Shot One Kill Trading [Hardcover] by Netto, John
  37. Beyond Candlesticks: New Japanese Charting Techniques Revealed [Hardcover] by
  38. The Candlestick Course [Paperback] by Nison, Steve
  39. Option Writing Strategies for Extraordinary Returns [Hardcover] by Funk, David
  40. Intermarket Analysis: Profiting from Global Market Relationships [Hardcover…
  41. A Complete Guide to Technical Trading Tactics: How to Profit Using Pivot Points
  42. Trading In The Zone by Douglas, Mark
  43. Trade Like a Hedge Fund: 20 Successful Uncorrelated Strategies & Techniques to Winning Profits
  44. The Battle for Investment Survival
  45. Option Volatility & Pricing : Advanced Trading Strategies and Techniques
  46. Japanese Candlestick Charting Techniques: A Contemporary Guide to the Ancient Investment Techniques of the
    Far East
  47. Trading for a Living: Psychology, Trading Tactics, Money Management
  48. 24 Essential Lessons for Investment Success : Learn the Most Important Investment Techniques from the Founder of Investor’s Business Daily
  49. Short-Term Trading in the New Stock Market
  50. The Successful Investor
  51. Options Made Easy: Your Guide to Profitable Trading
  52. Bible of Options Strategies, The:
  53. The Definitive Guide for Practical Trading Strategies
  54. Stock Investing for Everyone: Tools for Investing Like the Pros
  55. Come Into My Trading Room: A Complete Guide to Trading
  56. High Probability trading
  57. Trade Your Way to Financial Freedom
  58. How to Make Money Selling Stocks Short
  59. Technical Analysis Explained
  60. The New Market Wizards: Conversations with America’s Top Traders [Paperback…
  61. Stock Market Wizards: Interviews with America’s Top Stock Traders
  62. Trend Following: How Great Traders Make Millions in Up or Down Markets
  63. How To Make Money In Stocks : A Winning System in Good Times or Bad, 3rd Edition
  64. Value Investing in Real Estate
  65. The Weekend Millionaire’s Secrets to Investing in Real Estate : How to Become Wealthy in Your Spare Time
  66. Market Wizards: Interviews with Top Traders
  67. Fortune’s Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
  68. Reminiscences of a Stock Operator
  69. Security Analysis
  70. Liar’s Poker: Rising Through the Wreckage on Wall Street
  71. Rich Dad, Poor Dad: What the Rich Teach Their Kids about Money–That the Poor and Middle Class Do Not!
  72. Rich Dad’s Cashflow Quadrant: Rich Dad’s Guide to Financial Freedom
  73. Rich Dad’s Guide to Investing: What the Rich Invest in That the Poor and Middle Class Do Not!
  74. The Dollar Crisis: Causes, Consequences, Cures, Revised and Updated
  75. The Definitive Guide to Excel VBA
  76. Microsoft Excel Data Analysis and Business Modeling 20%
  77. The Education of a Speculator
  78. Fooled By Randomness: the Hidden Role of Chance in Life and in the Markets
  79. Applied Risk Analysis: Moving Beyond Uncertainty in Business
  80. The Fundamentals of Risk Measurement
  81. Credit Derivatives & Synthetic Structures: A Guide to Instruments and Applications, 2nd Edition
  82. Investment Valuation: Tools and Techniques for Determining the Value of Any Asset, 2nd Edition 60%
  83. Financial Modeling – 2nd Edition with CDROM Advanced Modelling in Finance using Excel and VBA 25%
  84. The Intelligent Investor REV Ed. 75%
  85. When Genius Failed: the Rise and Fall of Long-Term Capital Management
  86. Moneyball: The Art of Winning an Unfair Game  
  87. Technical Analysis for Dummies

Wow, I’ve read alot of books since September!

Quote of the Day: “Go for a business that any idiot can run – because sooner or later, any idiot probably is going to run it.” – Peter Lynch

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Books – Poker – Thoughts so Far…

July 17, 2006

Dear Reader, 

Below is a list of my poker book collection, indicating what I have already read and am currently reading.  

Bold = Read/Reading 

% = How far through the book I am

  1. World Poker Tour: In the Money with DVD Poker 
  2. The Real Deal
  3. The Book of Bluffs : How to Bluff and Win at Poker
  4. No Limit Hold ‘em: Theory and Practice – Reading – 75%
  5. Harrington on Hold ‘Em: The Workbook: Expert Strategy for No-Limit Tournaments
  6. The Poker Face of Wall Street  
  7. Championship Hold’em Tournament Hands : Championship Strategies at Limit and No-Limit Hold’em! – Reading – 50% 
  8. How to Win No-Limit Hold’em Tournaments Making the Final Table – Reading – 75% 
  9. Pot-Limit & No-Limit Poker Tournament Poker for Advanced Players
  10. Inside the Poker Mind
  11. Fortune’s Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
  12. The Psychology of Poker
  13. Poker Essays II
  14. Poker Essays
  15. Poker Essays, Volume III
  16. Hold’em Excellence: From Beginner to Winner
  17. More Hold’em Excellence: A Winner for Life
  18. Texas Hold’em Odds
  19. Internet Texas Holdem: Winning Strategies from an Internet Pro – Reading – 25%
  20. Improve Your Poker
  21. Winning Low-Limit Hold’em
  22. Phil Gordon’s Little Green Book : Lessons and Teachings in No Limit
    Texas Hold’em
  23. Middle Limit Holdem Poker
  24. Getting Started in Hold’em
  25. Caro’s Book of Poker Tells – Reading 50%
  26. Harrington on Hold ‘em: Expert Strategy for No-Limit Tournaments:
  27. The Endgame Harrington on Hold ‘em
  28. Small Stakes Hold’em

Currently I play in a sporadic Limit/No Limit Hold Em game with my friends in the burbs’ outside of Toronto. Initially a $.50/$1 limit cash game, I was able to do quite well. One of my best friends introduced me to poker way back when we were kids, and we had fun but video games were the interest du jour at the time. We then moved to No Limit tournaments, with a $20 buy in. This was a big swing, and I had a steep learning curve. I think I went out on the first 10 hands of the first tournament I played with KJs. I actually put the opposing player on the right hand (smaller pair) but he ended up filling up to a full boat (toot toot!). In the interim I purchased a Hold-Em simulator that has actually been really good. I routinely finish in the top 3 hands now. I’ve really been able to ramp up my No Limit Hold Em skills. It’s been great to be able to play with great players such as Thumbs, JayRo, Goat, MattyP and the other friends I’ve played with recently, both people I’ve met at work and in my MBA program. I’ve developed from being a Level 1 player (what does my hand do) to Level 3-4. Level 5 is the highest (What do I have what do they have what do they think I have that that have that I think they have). Level 5 is the Pro level. That being said the lower quality the level of player the more dangerous it is to play at a higher level. The optimal level, I believe, is 1 level above your opponent. What this means is that you can bluff good players but not bad players. That being said, I think that at the highest level, it’s circular, (that is you move back to level 1).

I was at the Mirage in Vegas for the first time a couple of weeks ago. I brought my best NLH game to the limit tables. Let me reiterate: I brought my best NLH game to the limit tables. I did not do well. The first time I sat down, I got AKo on the first deal, but missed the flop and didn’t see anything after that. Th second time I sat down, it was at the most random table .Sitting beside me was some Michael Jackson wanna be with a blonde afro. Even I can’t make this stuff up. I think he was playing with the rent money cuz every 15 mins some haggard looking Eastern European woman (“Kat”) would come by and he would berate her for harassing him. He would then give her a couple of buck to play at the slots. Right opposite me was some crazy compulsive gambler dude. It was a full table and after a couple of hours as the rock I had doubled up. At this point you would have figured I had “learned”.

In order to demonstrate that I was the “rock” I would flip over ALL MY HANDS. A keen observer would have noticed that I was playing the top 5% of hands. Even if you were mildly retarded you probably would have noticed this. I then proceeded to lose all my winnings on the following 2 hands. Hand #1 I have QQ, flop comes J 6 2 or something like that. I bet out heavily, so does the compulsive gambler. We come to the river and it’s a 5. I bet out heavily so does he. We flip, Ohhh.., he hit trip 5’s on the river. Nice! the sweetener was when random dude says “Never go in with Queen’s. Wow, thanks for that insight Doyle. I got outdrawn by a really bad hand. Your insight will certainly improve my game. Hand #2. I am big blind with 6-5, flop is 10 -6-5, I bet out heavily so does random guy, he draws out to a straight. Limit is all about the nuts. Nuff’ said.

The last time I played I lost a little bit but not as bad as the dude beside me who got busted in 20 mins. Dude sits down beside me with $100. The 3rd hand he gets into a re-raising contest with random dude and gets busted with 84s on a flush. He had pocket Aces. So naturally he goes on tilt. A couple ofhands later he has k-x Diamonds and gets into a raising war with random girl. They flip and she has A-10 Diamonds. Up to that point she had been playing garbage like q-9 and j-8. Wow. I just got up and left at that point.

I’ll try and post reviews of actual books when I have time, especially if I have requests. I am currently reading the latest Sklansky/Miller book and it’s pretty good. I am about to read about the Sklanskly-Chubov rankings in the book. Currently I used generic % hand calculations, but I recently began using actual out % calculations (using rule of thumb % accurate to with 2%)

 I plan on starting a monthly No Limit tournament and will keep stats, so that there can be a year end tournament of champions.

Daily Quote – Confucius on Hold’Em ” The cautious seldom err”

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