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Why do you assume he has insurance?

He might have paid cash for the house and is self insured. If you have enough money to comfortably cover a total loss, insurance is a bad bet.

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05-21-2014 , 01:13 PM

#1377

narcissisten

centurion

Join Date: Apr 2012 Posts: 119

Dan hanging out with Guy Laliberté!

https://twitter.com/DanBilzerian/sta...001922/photo/1

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05-21-2014 , 04:41 PM

#1378

plzd0nate

veteran

Join Date: May 2010 Posts: 2,407

Would be interesting to see his tax forms

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05-21-2014 , 05:03 PM

#1379

pocket_zeros

Pooh-Bah

Join Date: Jun 2008 Posts: 4,390

Quote:

Originally Posted by Professionalpoker

Why do you assume he has insurance?

He might have paid cash for the house and is self insured. If you have enough money to comfortably cover a total loss, insurance is a bad bet.

Not carrying insurance would be moronic. Insurance is very inexpensive relative to the coverage offered and, more importantly, it's essential for wealthy individuals to carry umbrella policies for the liability coverage.

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05-21-2014 , 05:08 PM

#1380

BustedNuts16

veteran

Join Date: Apr 2008 Posts: 2,516

is guy gay?

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05-21-2014 , 07:49 PM

#1381

beauvanlaanen

Carpal \'Tunnel

Join Date: Dec 2013 Posts: 12,487

Quote:

Originally Posted by syndr0me

0% chance any lawyer sent that

still pretty awesome

wrong

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05-21-2014 , 07:52 PM

#1382

coolnout

Carpal \'Tunnel

Join Date: May 2009 Posts: 12,430

Quote:

Originally Posted by BustedNuts16

is guy gay?

Spoiler:

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05-21-2014 , 08:00 PM

#1383

StueyIvey

grinder

Join Date: Sep 2006 Posts: 502

Quote:

Originally Posted by Professionalpoker

If you have enough money to comfortably cover a total loss, insurance is a bad bet.

wtf, you can't be serious.

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05-21-2014 , 08:05 PM

#1384

Itsnotatumah

centurion

Join Date: Dec 2008 Posts: 155

Quote:

Originally Posted by Professionalpoker

Why do you assume he has insurance?

He might have paid cash for the house and is self insured. If you have enough money to comfortably cover a total loss, insurance is a bad bet.

I genuinely chuckled at this.

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05-21-2014 , 08:36 PM

#1385

fuluck

banned

Join Date: Jun 2009 Posts: 3,532

Quote:

Originally Posted by BustedNuts16

is guy gay?

French Canadian.

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05-21-2014 , 08:59 PM

#1386

plzd0nate

veteran

Join Date: May 2010 Posts: 2,407

Quote:

Originally Posted by fuluck

French Canadian.

Lol!

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05-21-2014 , 09:02 PM

#1387

Biesterfield

Carpal \'Tunnel

Join Date: Jun 2005 Posts: 8,042

Don't get the hate on self-insurance

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05-21-2014 , 10:08 PM

#1388

narcissisten

centurion

Join Date: Apr 2012 Posts: 119

Quote:

Originally Posted by BustedNuts16

is guy gay?

Obv, but Guy has probably banged hundreds of girls.

Cirque du Soleil is known for massive drug use and sex orgies.

http://forumserver.twoplustwo.com/29...arties-510602/

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05-22-2014 , 12:00 AM

#1389

angeles

old hand

Join Date: Apr 2011 Posts: 1,942

Quote:

Originally Posted by sleepingtom

about 10 - 15 of my friends who have absolutely no idea about anything to do with poker and have never played it have asked me on different occasions about this guy. pretty funny. defo great for poker.

same thing. so great for poker. I hope he keeps pushing his "pro poker player" label

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05-22-2014 , 02:10 AM

#1390

dfb89

old hand

Join Date: Sep 2011 Posts: 1,293

Quote:

Originally Posted by angeles

same thing. so great for poker. I hope he keeps pushing his "pro poker player" label

Don't think he's ever pushed pro poker thing...

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05-22-2014 , 09:07 AM

#1391

MinusEV

Giftastic!

Join Date: Oct 2005 Posts: 12,209

Quote:

Originally Posted by Biesterfield

Don't get the hate on self-insurance

Agreed - PP is clearly correct and I have no idea what's with all the "wtf you can't be serious"-ing.

The fact that insurance companies are able to run (very) profitably is proof enough of that.

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05-22-2014 , 09:27 AM

#1392

YouFaiil

Concept of the Week Author

Join Date: Jun 2010 Posts: 13,505

Quote:

Originally Posted by dfb89

Don't think he's ever pushed pro poker thing...

obv he does, he's gotta explain where his money came from some how and saying my dad was a fraudster and i inherited it all doesn't have quite the same ring to it.

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05-22-2014 , 10:15 AM

#1393

pocket_zeros

Pooh-Bah

Join Date: Jun 2008 Posts: 4,390

Quote:

Originally Posted by MinusEV

Agreed - PP is clearly correct and I have no idea what's with all the "wtf you can't be serious"-ing.

The fact that insurance companies are able to run (very) profitably is proof enough of that.

So you'd risk 100% of an asset and potentially 100% of your personal wealth (from a liability claim) because you don't begrudge insurance companies a profit? They make a profit because they aggregate risk, not because it's an unwise decision for individuals. We're not talking about an extended warranty for a television here.

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05-22-2014 , 10:35 AM

#1394

MinusEV

Giftastic!

Join Date: Oct 2005 Posts: 12,209

Quote:

Originally Posted by pocket_zeros

What part of "If you have enough money to comfortably cover a total loss" did you not understand?

I don't, so no, I wouldn't.

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05-22-2014 , 11:31 AM

#1395

pocket_zeros

Pooh-Bah

Join Date: Jun 2008 Posts: 4,390

Quote:

Originally Posted by MinusEV

What part of "If you have enough money to comfortably cover a total loss" did you not understand?

I don't, so no, I wouldn't.

What part of losing 100% of your wealth to a liability claim don't you understand? It doesn't matter how much money you have if someone sues you for all of it and you don't have liability insurance.

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05-22-2014 , 11:49 AM

#1396

Bobo Fett

Carpe Diem

Join Date: May 2006 Posts: 56,895

Quote:

Originally Posted by pocket_zeros

What part of losing 100% of your wealth to a liability claim don't you understand? It doesn't matter how much money you have if someone sues you for all of it and you don't have liability insurance.

Obviously they believe that it's possible to have more money than you can be successfully sued for, in which case self-insurance could make sense, and PP apparently believes Dan could have that much. If you disagree, so be it.

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05-22-2014 , 12:00 PM

#1397

pocket_zeros

Pooh-Bah

Join Date: Jun 2008 Posts: 4,390

Quote:

Originally Posted by Bobo Fett

If insurance cost less than 0.5% of the asset per year (and much less than a potential liability claim), then in what scenario would self-insuring make sense?

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05-22-2014 , 12:14 PM

#1398

Loctus

Carpal \'Tunnel

Join Date: Nov 2008 Posts: 11,159

I really don't get what is so hard to understand about the very simple equation that insurance companies makes a LOT of money, and they make that money because people buy insurance, thus if you can foot the entire bill of a potential loss yourself without much issue, then buying insurance is a bad idea.

I MIGHT be missing something here, but seriously, I don't see how.

It's the standard "Would you rather get $10k in the hand or have a 1% chance of getting $1.1mil?" Insurance companies allow people to take the $10k. Blitz doesn't give a **** about the 10k, he takes 1% for 1.1mil, which is more +EV.

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05-22-2014 , 01:19 PM

#1399

Videopro

Making TV

Join Date: Oct 2002 Posts: 19,241

Quote:

Originally Posted by pocket_zeros

What part of losing 100% of your wealth to a liability claim don't you understand? It doesn't matter how much money you have if someone sues you for all of it and you don't have liability insurance.

Pretty ridiculous statement. Show me an insurance policy that has unlimited coverage. If he can afford a top 1% lawyer, that is his insurance policy.

I have hung out with some pretty big whales, where the topic of conversation was, "Should I take the Jaguar or the BMW for my casino bonus?" The folks in the financial stratosphere have a completely different mindset than the average person and it wouldn't surprise me at all if they didn't carry homeowners insurance.

My main point was that were was a lot of conversation of his insurance company settling irregardless of the lawyer letter and the assumption that he carries said insurance is a pretty big assumption.

Last edited by Videopro; 05-22-2014 at 01:26 PM.

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05-22-2014 , 01:36 PM

#1400

Loctus

Carpal \'Tunnel

Join Date: Nov 2008 Posts: 11,159

I feel like a dick for pointing it out, but please never use the "word" "irregardless". It's not a word. If you were to use it in a formal setting (don't know who you are though) it'd be embarrassing for you.

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