Re:How to make decisions like a poker player
by 1retep on Thursday June 02, 2022 @09:50AM
(#31594884)
I also like the discourse on bankrolls and bets sizing. I think being able to correctly size your bets is such a great, albeit challenging skill to have in the real world.
[ Parent
| on HN ]
Go here for more focused practise: https://static.loop54.com/ship-investor.html
https://en.wikipedia.org/wiki/Kelly_criterion may be of interest.
Re:How to make decisions like a poker player
by sokoloff on Thursday June 02, 2022 @02:14PM
(#31598537)
One major problem here is that many players dramatically overestimate their edge.
One of the rules of thumb you quickly learn when studying the Kelly criterion is that overestimation can lead to ruin, underestimation can at worst lead to slower growth.
A problem for those players, an opportunity for others :)
Re:How to make decisions like a poker player
by sokoloff on Thursday June 02, 2022 @09:31PM
(#31603131)
True!
Reminds me of: https://en.m.wikipedia.org/wiki/Chinese_word_for_%22crisis%2...