Dan Bilzerian's very own containment thread. All things Bilzerian go here - Page 58 - Poker News

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.

Wow, here is some solid internet advice….You'd be a complete fool to not have insurance.

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05-23-2014 , 04:24 AM

#1427

Masq

Carpal \'Tunnel

Join Date: Oct 2008 Posts: 15,007

Quote:

Originally Posted by Biesterfield

All we were saying originally is that insurance is a pure mathematical -EV move and somehow you kept saying we were wrong. It's when you bring in risk tolerances that it becomes a +EV thing to do (for almost everyone). In other words, you need to define EV better.

This makes the assumption that insurance companies have perfect information on each individual client and are providing a policy at a premium. Guess what? They don't have perfect information!

End of discussion.

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05-23-2014 , 05:55 AM

#1428

Codecci

veteran

Join Date: May 2007 Posts: 2,716

Quote:

Originally Posted by Dominic

Say your net worth is 1 billion dollars.

If you get liability insurance, it'll cost you about $50,000 a year. If no one ever sues you in 30 years, you have spent $1.5M on something, as you say, you did not ostensibly need, right?

But if you do not get the insurance, you run the risk of putting, let's say for argument's sake, no more than $100M, if you get sued and lose. (I'll even agree to cap it at that number)

A tenth of your net worth. But hey, you can afford it, right? No worries!

1.5M over the course of 30 years is nothing to you. And it gives you the peace of mind that your fortune cannot be litigated away from you.

You don't think this is worth it, huh?

They call it "insurance" for a reason.

What if you have $10 billion though, other numbers stay the same and you have enough in liquid to cover $100M comfortably?

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05-23-2014 , 06:27 AM

#1429

Dominic

Tripod

Join Date: Jun 2004 Posts: 74,252

Quote:

Originally Posted by Codecci

What if you have $10 billion though, other numbers stay the same and you have enough in liquid to cover $100M comfortably?

Lol...this getting ******ed

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05-23-2014 , 10:02 AM

#1430

anthai.lu

grinder

Join Date: May 2012 Posts: 475

Bieber is such a douche...why Biltz would be caught dead in public what that turd is beyond me. Brings down his street cred IMO.

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05-23-2014 , 10:26 AM

#1431

BkBozo

grinder

Join Date: Nov 2010 Posts: 409

Quote:

Originally Posted by ChicagoJoey

lol

Nice pleather shorts, homes!

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05-23-2014 , 12:05 PM

#1432

isapistola

veteran

Join Date: Feb 2007 Posts: 2,613

Quote:

Originally Posted by anthai.lu

Bieber is such a douche...why Biltz would be caught dead in public what that turd is beyond me. Brings down his street cred IMO.

Birds of a feather flock together.

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05-26-2014 , 03:34 PM

#1433

horVeech

grinder

Join Date: Oct 2013 Posts: 459

The insurance Guy s got a point tho

Sent from my 2013023 using 2+2 Forums

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05-26-2014 , 04:07 PM

#1434

LASJayhawk

veteran

Join Date: Jan 2014 Posts: 2,900

Maybe Blitz will throw him off the roof next.

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05-26-2014 , 08:57 PM

#1435

LVpokerPRO

old hand

Join Date: Jul 2009 Posts: 1,930

Quote:

Originally Posted by cwazy

Most billionaires carry liability insurance for their homes. There is a reason they do that. Blitz is far from a billionaire.

End of discussion.

You know his personal finances? His dad apparently took "hundreds" of millions during his corporate raider days...his family net worth/hidden money could easily be close....we have no idea.

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05-27-2014 , 12:20 AM

#1436

cwazy

newbie

Join Date: Jan 2014 Posts: 43

Quote:

Originally Posted by LVpokerPRO

You know his personal finances? His dad apparently took "hundreds" of millions during his corporate raider days...his family net worth/hidden money could easily be close....we have no idea.

Really? Now he's a billionaire? His supporters in this thread seem to be willing to believe anything, so why not, he's a billionaire.

<REALITY CHECK>
His father stole a bunch of money (but not even close to enough to have turned into a billion or more) and now his son is using stories about high-stakes poker games that no one ever actually sees to launder his father's ill-gotten gains that would otherwise be confiscated. I can tweet about how much money I just won from an oil sheik too.
</REALITY CHECK>

OK, back to fantasy land where he's a billionaire pro-poker player, to whom his fellow billionaires just love losing. Because nothing makes billionaires happier than consistently losing money.

Last edited by cwazy; 05-27-2014 at 12:31 AM.

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05-27-2014 , 12:36 AM

#1437

LVpokerPRO

old hand

Join Date: Jul 2009 Posts: 1,930

Do you have any reading comprehension? Please quote where I said he's a billionaire. All I said was his dad apparently took/stole/made hundreds of millions and none of us know his family net worth.

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05-27-2014 , 05:54 AM

#1438

cwazy

newbie

Join Date: Jan 2014 Posts: 43

Quote:

Originally Posted by LVpokerPRO

Do you have any reading comprehension? Please quote where I said he's a billionaire. All I said was his dad apparently took/stole/made hundreds of millions and none of us know his family net worth.

I said "he's not a billionaire" and you said "you don't know he's not a billionaire". That's awfully close to saying he's a billionaire. I don't want to get into a semantics argument, but you were implying that he may well be a billionaire. My contention is that he isn't even close.

Anyway, regardless of where he's getting it, it's fun to watch him spend it, and it will be right up until the time he goes to federal prison for money laundering (where he will be a legend, although they don't have Instagram in there). I just wish he hadn't chosen poker for his cover story because when he gets arrested it will be yet another high-profile black mark for poker and poker players.

Last edited by cwazy; 05-27-2014 at 06:00 AM.

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05-27-2014 , 09:16 AM

#1439

wiper

still catching up

Join Date: Oct 2005 Posts: 42,897

this thread...

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05-27-2014 , 11:11 AM

#1440

DecisionMade

grinder

Join Date: Nov 2012 Posts: 557

I swear this thread was once interesting...

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05-27-2014 , 12:38 PM

#1441

Richard88

old hand

Join Date: Oct 2009 Posts: 1,727

DAN BUSTO`D IVEY IN A 10/20 HU GAME, BILLIONS

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05-27-2014 , 03:32 PM

#1442

sins

journeyman

Join Date: Mar 2014 Posts: 373

Quote:

Originally Posted by Codecci

What if you have $10 billion though, other numbers stay the same and you have enough in liquid to cover $100M comfortably?

If you have 10 billion and you don't own an insurance company... your doing it wrong.

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05-29-2014 , 04:52 AM

#1443

FestiveFreedom

enthusiast

Join Date: Feb 2013 Posts: 88

whoa whoa whoa, way too many people talking after "end of discussion".

I think I just saw his bro's name in a WSOP update?

I thought it was weird b/c I thought there was some citizenship issue.

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05-29-2014 , 06:08 AM

#1444

Shoeman33

newbie

Join Date: May 2013 Posts: 29

Quote:

Originally Posted by sins

If you have 10 billion and you don't own an insurance company... your doing it wrong.

If you have 10 billion, you aren't doing much wrong imo.

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05-29-2014 , 08:21 AM

#1445

dibbs

Carpal \'Tunnel

Join Date: Dec 2004 Posts: 6,341

Dude really has done an awesome job of sprawling his presence.

OT'ish and D-Listery but Scout Willis, who is on a personal crusade about nudity and censorship on Instagram, cited Blitz as obscene stuff that IG is okay with/hypocritical about.

NSFW link if you scroll all the way down.

http://jezebel.com/scout-willis-prot...nyc-1582779032

Last edited by dibbs; 05-29-2014 at 08:36 AM.

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05-29-2014 , 09:52 AM

#1446

doncolo

journeyman

Join Date: Jun 2007 Posts: 282

Can someone please open an "Insurance Discussion Thread" and can the rest of the posts in this thread go back on topic?

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05-29-2014 , 04:23 PM

#1447

pokertwoplustwolover

old hand

Join Date: Jan 2012 Posts: 1,630

Quote:

Originally Posted by FestiveFreedom

whoa whoa whoa, way too many people talking after "end of discussion".

I think I just saw his bro's name in a WSOP update?

I thought it was weird b/c I thought there was some citizenship issue.

I saw someone with the same last name get knocked out of the25k yesterday

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05-29-2014 , 04:40 PM

#1448

SIThomer

veteran

Join Date: Oct 2007 Posts: 2,038

Was reading an article about the seizure of a mexican drug kingpin's house and every picture looked like a blitz instagram photo -- cash/guns/women/cars the only difference was the drug lord has exotic animals

your move dan

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05-29-2014 , 05:56 PM

#1449

shaniac

Carpal \'Tunnel

Join Date: Sep 2002 Posts: 9,982

This is only vaguely related but still interesting:

Scout Willis (daughter of Bruce Willis and Demi Moore) is fighting for nipple equality on Instagram, uses Bilzerian's feed as an example of the hypocrisy she is trying to stamp out!

(NSFW)

http://www.buzzfeed.com/whitneyjeffe...und-topless-ny