I would always take a professional attitude to the game, but I doubt I would ever play full time again. It isn't like I 'quit' poker or something, poker quit me. I played right up to April 15th of this year, even while in school. I would continue to do so if the option was available.

I miss making money. I used to not really worry about excess spending, even though I never was super frivolous. The money I made won't last forever so I have to be a bit more frugal. It is just nice having some money hit the bank account every now and again.

I don't miss poker setting my schedule for me. If a great game breaks out at high stakes, I pretty much need to be in it because the hourly is so good the opportunity cost of not doing it is ridiculous. That means I went to class on 3 hours of a sleep a lot (if any) and was a lot less productive during the day. It is nice getting at least 6 hours every night now, and having a somewhat normal sleep cycle (as normal as one can have in college).

I know you 3b a ton otb in 6m games and you said people adjust improperly by 4b stacking 66+. In videos you have 4b stacked 77. Why is 66 any different? If you are 3betting more than 20% or so, I can 4b shove 66 profitably until you start 3b calling QJs. I was shown the math behind this. Why do you think its wrong to 4b stack 66 v. someone like you in a 6m setting? What are 3 adjustments I should make in the CO with you to my direct left otb? Also you said that you are happy to see someone HU 5b shipping small pairs. I would argue that against you HU, you might not be raising and 4b'ing enough otb to make me wanna play my small pairs that way. But if I am to 5b ship anything, the small pairs do better against your 4b calling range than most other hands. I left NYC a few years ago to come to Austin. This place needs something like seamless web, or even fresh direct would kick ass here.

Oops, what a fail, meant to say 60%.

Thanks raptor. Yeah slow growth is not a big problem for me. I'm more learning PLO because it seems like the games are moving towards that, so in case NLHE becomes too tough to grind, I can then make a switch to mostly PLO.

Do you know what kind of program is Phil Galfond using in his philosophy series where he makes up hands and players? Screenshot:

Couldn't edit anymore, some extra q 's:

1. Did you often study certain players specifically?

2. How many hours approx. have you spent on studying a single player? And who if you feel comfortable answering it?

3. Did you use PokerStove or some other similar program? And how often?

4. When you played did you instantly & more than not went through your session in HEM/PT3?

5. What do you think your edge would be vs average midstakes HU regular who mostly bumhunts?

Just got into NYC with my GF for a few days. I have never really done any touristy stuff in the City. Basically just have gone to bars and restaurants. Any suggestions on things to do or shows to see.

My GF has never really been to NYC (lived in Cali her entire life) so she is making me do some of the super standard things like Rockafeller center and Central park and time square tourist stops to start with.

Could you ask your accountant or friends if a poker player can make an S Corporation for his or her gambling ventures, and get the rewards of having limited liability, and pay them selves a dividend or a salary?

http://www.irs.gov/businesses/small/...=98263,00.html

The reason I ask is the 500-1k busto scenario where you win 1 million in a year and go broke on Jan 1.

You need a license to operate a business which makes money off of gambling. An S-Corp like you describe would be an illegal gambling business. This is what I have heard from

Yea I don't have a good answer, sounds like you are right assuming I don't ever adjust and just keep going crazy. The idea behind all that is that I don't always go crazy. Sometimes I go nuts and 3 bet every button for 20 minutes, then cool off for an hour or so. A lot of people are playing 12 tables or whatever too and just remember me 3 betting like a nutball, and they see me 3 bet occasionally since they are playing 12 tables, and they assume I am continuing to be a nutball, and don't adjust and keep 4 bet calling 66. I guess what I was saying is that in general, I am happy when ppl are getting it in pf with small pairs against because I think I can adjust better.

You need a license to operate a business which makes money off of gambling. An S-Corp like you describe would be an illegal gambling business. This is what I have heard from a few different accountants and poker players who have asked their accountants.

1. Yes.

2. A lot of hours. Pretty much everyone I play any reasonable amount with.

3. No, I have never used pokerstove. I click through hands in HEM for the most part.

4. Not sure what this question is asking, but I would go through HEM after my sessions.

5. I have no idea, I would imagine there is a lot of variance in the overall skill of these guys. I would imagine that if we were playing 4-6 tables and locked into it for 10k hands or something, I would do pretty well.

What did it feel like when you made the first million? Do people know you have money (i'm guessing there's still some left) when they are around you if they don't know you? Do you hate being introduced as "a poker player"?

In general I hate most touristy things. I haven't really explored the city very much, school consumes my life. If you can swing it, go see Book of Mormon, though it is really expensive. Also, How to Succeed in Business was really great (Daniel Radcliffe is REALLY good in it, and John Larroquette is just awesome in general). If your gf is into weird modern dance stuff, one of my good friends is in Momix Botanica and I thought it was really cool (saw this last week). Other than that, go to Gotham Bar and Grill to eat (the name is misleading, it is on the fancy side. Tasting menu is pretty insane), and try Sushi Yasuda for lunch, definitely do Omakase, and if you like eel and salmon, you are in for a treat.

I have no idea, but I'll ask next time I see him. I feel like Ike is on the right track or more people would know about that route.

1. Pretty good, it was right after Mike Graves won his bracelet, and it hit me when we were eating dinner at Nobu to celebrate. I was 21.

2. I dno how they would really. I wear a t-shirt and jeans pretty much everywhere and don't walk around saying 'OMG I am richer than you weak 20 year olds'

3. I haven't been introduced as a poker player in years, and when I did, I really didn't like it. I like 'this is my friend David' a lot better than 'this is my friend David. He is a pro poker player!' Not a fan.

I have absolute no idea, sorry.

how can you say that the money you've made from poker won't last forever?

what made you want to risk such a large % of your earnings on a risky investment such as a startup?

I would think that with smart conservative investing you would be comfortable forever.

Thanks for the reply but...

Could you go into more detail about who told you this (tax accountants, tax lawyers, ect...) and what they told you? I am back in school for a Finance Degree I have less then 26 credits left for a BA, and I asked a few professors and they all look at me they have no idea what I am talking about or can't answer this. I am pretty sure I am reaching and this might be a stupid idea, but I would rather ask a dumb question and learn from it, then be dumb for not asking questions.

My understanding for an S Corp to be made all is required is a tax payer ID or a social security number. So if you make a separate entity for your poker business via a S corp, this should be legal. Its no different then a investment firm or or a check cashing place. Its all margins from my aspect. Or is it the gambling issue that stops everything? I think it was Billy Baxter who fought the IRS years ago about gambling and won about being able to carry over losses and wins via the tax code.

Side note I am not the strongest writer I am a math/concept guy so if anything is worded weird just ask to rewrite or clarify...

Find it very interesting that a lot of your success has been due to how you read the dynamic of the game at any given point- I guess all the high stakes players are pretty fast adjusters.

Just wondering what are your thoughts as regards playing when tired/groggy etc? Was it something u did if the games were good or would you rather do something else other than grind and wait for the next day? Asking mainly from the point of long term value- taking some days off so one can play his best the other days

when u play live donkaments u kinda twitch ur eyes while in hands. is this involuntary? if so, do you realize its happening? either way, its pretty intimidating

you should give Pisticci a try its at 125th and lasalle (between b'way and riverside). first 100% carbon neutral restaurant in nyc and great food

you can't make money off of gambling, but why cant your corporation consult someone who does? hypothetically, of course.

1. If I live in a tiny apartment on 25k a year and never travel or spend money on things I want, it will last forever. If I want to live in a decent apartment and eat sushi whenever I want, it probably wont.

2. I like the companies, I see a future in each of them, worst case scenario I lose half of my money and learn a lot. Best case I get rich and learn a lot. I am also not really in on the ground floor, so I would imagine these investments are slightly less risky than 2 dudes in an office garage. Still obv risky though.

3. Smart conservative investing is what, 2-3% per year? Does that even keep up with inflation? The books I read 5 years ago and financial advisers I talked to said that smart investing was index funds and real estate. I did that and lost almost half of my money.

Let me break down some numbers.

Win 5 million over 6 years.
Pay ~2 million in taxes.
Lose ~400k in index funds.
Lose ~400k in housing.
Invest in some startups.
Spend like 100k per year on stuff. (Seemed reasonable when making 1m/yr)
Go to really expensive university.

Sure, there is a lot left over still, but not as much as you probably think seeing a 5m number. I have plenty of money, I don't need or want anything else in my life that money can buy. I don't have expensive tastes, and I have plenty to sustain my sushi and semi nice apartment and expensive school habits until 2020 I would guess. I also have lived with my girlfriend for almost 2 years and am essentially consuming double. I expect to be able to do a lot of cool things in the future and am by no means trying to 'sit back' on whatever money I have and try to make it last forever (hence startup investing, getting involved and trying to learn about a variety of different fields).

I was a good poker player. I was not a good investor, though hindsight is obv a lot better. At the time, I think you would be hard pressed to find people that said don't invest in index funds. Don't buy a rental property. I read a lot of books, talked to a number of financial advisers, and did the best I could with what I knew. I probably got a little unlucky the way things turned out, but I am still in pretty good shape. I am not super sure what I could have done much differently. Arguably invested all my money in bonds or gold or something and never bought houses, but the prevailing investment wisdom of the time didn't really think that was best. (Yes, I am probably a little defensive about all of this, I really did think I was doing things right to put myself in a really great position for the future).

1. I think that is the most important part of poker after getting down the basics.

2. I think if you are a 12 tabling mid stakes guy, it is pretty bad to play when tired or groggy. If you are 2 tabling some high stakes 6max plo (a ton of it was 40x cap) against a decent number of not-so-great players, it would be insane to not play while slightly tired. I definitely play worse when I am not fresh, but I think my hourly playing the bigger games was still pretty high.

1. It is definitely involuntary, hopefully my eyes aren't twitching in code giving my hands away When I play live under the bright lights of most big card rooms, but eyes get tired very fast and I have to blink them really hard a lot. I notice that, but I haven't noticed the twitching. I also narrow my eyes a lot when thinking, I think it makes me look mean.

2. I have heard good things, will definitely check it out.

1. How much money/bankroll do you think the big game regulars have liquid when the game was 3k-6k mixed games, 100k capped for nl/plo games at the Bellagio a few years ago?

2. What kinda of bankroll would you need to play the Macau 10k-20k hkd game?

3. How much would the biggest winner in the Macau game make a year?

4. The WSOP 1 Million Dollar tourny, how do you feel about this?