Quote:
Originally Posted by Deanglow
is poker gambling?
Actually, I want to take this even further by saying that trading / working for an investment firm or hedge firm is more gambling than being a poker player. The reason for this is leverage. Most firms are leveraged and have much more money invested than they plan to lose. In this case, when the unthinkable happens in trading, i.e. last year, many firms will go busto because they cannot cover their capital requirements or margin calls, or just flat out lose all their money. Whereas in the case of poker (doomswitch, cash out, lol) we are only playing with what we have at the tables. So in other words, hedgefunds and investment firms are 'gambling' that the unthinkable 0.01% probabiltiy events will never happen while putting their existance on the line. Meanwhile, poker players practice bankroll management so that when the 0.01% run of cards comes, we can continue on with daily operations as planned.