Monthly Archives: December 2010

How the World Series of Poker Saved Me from the Market Crash: Part II

“OK. Well I just hope I can sell this to the Lithuanian,” the voice on the phone concluded.
I had just finished negotiating my contract to cover the 2008 World Series of Poker. It hadn’t gone as well as I had hoped. I got more than they initially offered, but not quite as much as I [...]

How the World Series of Poker Saved Me from the Market Crash: Part I

“The market can stay irrational longer than you can stay solvent.”
John Maynard Keynes
I thought a lot about Keynes’ cautionary words during the summer of 2007. But in the end, being early saved me. And strangely enough, the World Series of Poker gets most of the credit.
In February 2007, HSBC wrote down over $10 billion in [...]

Sweating, Gain Bias and the Value Bet

In July 2010, Paul Goydos shot a 59 in the first round of the John Deere Classic, becoming only the fourth golfer in PGA history to hit that mark. He birdied eight of the last nine holes. In this interview with NPR, Gaydos was asked if he was nervous as he lined up to make [...]