"Online poker is illegal. Losing your life savings in the stock market..." -Jim Norton tweet - Page 2 - Poker News

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"Online poker is illegal. Losing your life savings in the stock market..." -Jim Norton tweet

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05-17-2011 , 11:56 PM

#26

Bluffzorz

old hand

Join Date: Nov 2009 Posts: 1,411

My friends father died and left alot of money for his family in the stock market. He died in 2006. Needless to say the family lost lots of the money in 2008 and now his mom has had to get a job and sell the house.

Quote

05-18-2011 , 12:29 AM

#27

spaceman Bryce

anything you guys want

Join Date: Dec 2005 Posts: 21,015

Quote:

Originally Posted by Channidae

Reminds me of the Ambrose Bierce quotation: "The gambling known as business looks with austere disfavor upon the business known as gambling."

I had not read this quote before. It is amazing.

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05-18-2011 , 04:15 AM

#28

Scottish_34

centurion

Join Date: Apr 2011 Posts: 110

i like the bit where he says he invests in blackjack....

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05-18-2011 , 06:12 AM

#29

deathofpoker

centurion

Join Date: Nov 2010 Posts: 147

Quote:

Originally Posted by Scottish_34

i like the bit where he says he invests in blackjack....

I'm good at card counting foolio. If I said I invest in slot machines or -EV games that would just be ridiculous.

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05-18-2011 , 06:18 AM

#30

CharlesBronson

journeyman

Join Date: Nov 2010 Posts: 353

Quote:

Originally Posted by deathofpoker

I'm good at card counting foolio. If I said I invest in slot machines or -EV games that would just be ridiculous.

6/5 instead of 3/2 payouts on Blackjack, constant re-shuffling, shallow penetration on multi-deck games. All these countermeasures by the casinos probably killed off most of the card-counters.

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05-18-2011 , 07:13 AM

#31

WAtR

veteran

Join Date: May 2010 Posts: 2,386

Quote:

Originally Posted by Channidae

Reminds me of the Ambrose Bierce quotation: "The gambling known as business looks with austere disfavor upon the business known as gambling."

What a great quote!

Quote

05-18-2011 , 08:15 AM

#32

Palikari

veteran

Join Date: May 2007 Posts: 3,394

OP, nice quote

Quote:

Originally Posted by deathofpoker

I lost my life saving in the stock market 3 times, I'm still in my twenties so I could care less. With insider trading running so rampant it is almost impossible to be diversified and make money in the stock market. The only way to make money is to put all your money only on a few stocks and hope you hit a home run. They say don't put all your eggs in one basket, but unless you are getting hedge fund type insider information your dead in the water. Stick to poker trust me.

Story makes sense.

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05-18-2011 , 08:43 AM

#33

RedManPlus

banned

Join Date: Apr 2005 Posts: 2,169

If someone does not understand the difference...
Between Capital Markets and Casino Gambling...
Then the discussion ends right there...
You do not argue with idiots.

And as long as poker is promoted by such people...
It will remain shady, quasi-legal 3 AM TV filler.

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05-18-2011 , 08:49 AM

#34

AMT

Charlie Brown of MTTs

Join Date: Sep 2005 Posts: 17,745

Quote:

Originally Posted by RedManPlus

Sure...but one could say the same thing about the striking similarities.

Quote

05-18-2011 , 08:55 AM

#35

RangeyMcTriplmerge

old hand

Join Date: Dec 2010 Posts: 1,467

Quote:

Originally Posted by RedManPlus

If someone does not understand the difference...
Between Capital Markets and Casino Gambling...
Then the discussion ends right there...
You do not argue with idiots.

Not a bad effort, but you've broken quite a few haiku structure rules here.

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05-18-2011 , 11:54 AM

#36

Mcbrag

adept

Join Date: Apr 2005 Posts: 966

Ambrose Bierce probably has ten of the best hundred one liners of all time.

Quote

05-18-2011 , 12:09 PM

#37

BarrySanders

veteran

Join Date: Nov 2007 Posts: 2,397

Quote:

Originally Posted by Mcbrag

Ambrose Bierce probably has ten of the best hundred one liners of all time.

Even more incredible, he has a hundred of the best ten liners of all time too.

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05-18-2011 , 01:35 PM

#38

Double Deuce

journeyman

Join Date: Nov 2008 Posts: 206

Technically, it is impossible for one's life savings to drop down to a zero balance as a result of one's stock market investments.

Even if every single company invested in goes bankrupt, the investor still receives an income tax deduction for the loss.