[OFFICIAL] "The Pen:" Live NLHE Chat Thread
07-17-2021
, 09:30 AM
07-17-2021
, 10:37 AM
07-17-2021
, 12:40 PM
07-17-2021
, 12:45 PM
Quote:
Although I definitely have different opinions on the usefulness/return on that time investment studying/trading stocks, it seems like you are going about it in a very reasonable way. And it can definitely be interesting to learn about in general. In terms of the credit card stuff honestly it is both very basic but also very complex. I have a very detailed spreadsheet where I track everything I do and there's plenty to learn about due to so many different cards/issuers/diff rules for diff issuers/etc. Essentially the way it works is that in order to have the convenience of credit cards, stores pay swipe fees. These fees are then passed on to us in the form of higher prices. Credit card companies offer rewards either in giving a couple % back on all purchases or also in the form of sign up bonuses in order to entice people to sign up for their cards instead of the competitors. So people paying cash/debit are leaving money on the table. The highest return comes from getting a new card that has a sign up bonus, which will vary from card to card. For example there's cards where if you get approved for the card and spend 3k in 3 months you will receive $500 back. Obviously there are two very important factors to all of this. Most importantly you need to be paying off your balances in full every month. Getting a sign up bonus does you no good if you are buying things you can't afford and are now in debt paying 18% interest. Second is that you aren't raising your spending just to meet the terms of a bonus because again that will just negate the value of the bonus in the first place. But if you are spending $1500/mo on life expenses either way but put it on a card with a sign up bonus I described, you now got a $500 (~17%) rebate on those life expenses. Then it becomes a balancing act of which card to get/when to get it/how to plan around the different velocity rules of different issuers etc. Honestly anyone who wants to learn more can always feel free to reach out to me and I'm happy to discuss/point you towards more resources. I enjoy discussing this stuff and honestly it also can be mutually beneficial anyways since there's certain cards where you can refer people. It's worth repeating again though, although there there's essentially no downside with a lot of upside if you are financially responsible, if someone cannot control themselves/their spending than this is not something I would suggest they do. But as long as you are responsible it's easy money and also is even more lucrative if you use the bonuses for traveling.
Quote:
Just my opinion but it's a waste of time to spend a bunch of time and energy trying to learn to analyze/pick stocks. If you enjoy it than sure spend a bit of time on it, but if you are doing it to try to optimize your investing strategy it doesn't make sense. Even very smart people who are doing it full time are not providing greater returns than just setting and forgetting it in index funds. And the few who do are extremely likely to just be on the good side of variance. But despite the fact that you will always have to question whether you are actually performing better than the index, even if you squeak out a couple extra % ev return, all that time spent to do it will have given a significantly greater return if spent on poker. Max your retirement accounts/throw the rest in a taxable brokerage/throw it all in index funds/leverage good credit to get sign up bonuses for thousands of dollars in rakeback per year on your yearly spend (including on your tax payments). Save your time and energy for things that have a higher return/life balance and keep it simple for the other stuff imo.
GL 2020!
GL 2020!
This has to be the best advice I’ve ever read on 2p2
Chase just made me an offer to settle for 10% of my defaulted credit card balances.
07-17-2021
, 06:14 PM
07-17-2021
, 09:08 PM
07-17-2021
, 11:17 PM
Quote:
Sr Walking has one. It's plenty hot, I have to climb into the attic to reboot it every couple of years. My worry is that he cannot climb the ladder himself and would just make do with lukewarm water.
Our official globogym greeter (mid 50s) mentioned that he had switched to leg press. I asked and he confirmed that at some age a man just cannot squat safely.
Sr Walking has one. It's plenty hot, I have to climb into the attic to reboot it every couple of years. My worry is that he cannot climb the ladder himself and would just make do with lukewarm water.
Our official globogym greeter (mid 50s) mentioned that he had switched to leg press. I asked and he confirmed that at some age a man just cannot squat safely.
07-17-2021
, 11:30 PM
07-18-2021
, 12:40 AM
If no one minds here’s a unique preflop spot I found myself in. thought it could make for an interesting discussion given feedback was thoroughly mixed in my own circle.
Spoiler:
400nl
$2100/525bbe
OTTH
Pre-flop: V RFI $20 CO. Hero 3b BB $110 with A
K
. V snap 4b $450, leaving $1650 behind.What are you doing?
07-18-2021
, 12:47 AM
Quote:
Maniacs amirite
If no one minds here’s a unique preflop spot I found myself in. thought it could make for an interesting discussion given feedback was thoroughly mixed in my own circle.
400nl
$2100/525bbe
OTTH
Pre-flop: V RFI $20 CO. Hero 3b BB $110 with A K. V snap 4b $450, leaving $1650 behind.
What are you doing?
If no one minds here’s a unique preflop spot I found myself in. thought it could make for an interesting discussion given feedback was thoroughly mixed in my own circle.
Spoiler:
400nl
$2100/525bbe
OTTH
Pre-flop: V RFI $20 CO. Hero 3b BB $110 with A
K. V snap 4b $450, leaving $1650 behind.What are you doing?
07-18-2021
, 12:47 AM
07-18-2021
, 03:00 AM
07-18-2021
, 03:07 AM
07-18-2021
, 06:23 AM
07-18-2021
, 09:21 AM
07-18-2021
, 11:01 AM
07-18-2021
, 02:09 PM
07-18-2021
, 04:31 PM