excerpt:

Surprisingly, there are striking similarities between successful fund managers and professional poker players.

Competition poker has become the latest global craze — the surge in popularity coincides with the advent of the lipstick camera, which allows viewers at home to see the cards of the players as the hands unfold. This, as well as the remarkable sums of money at stake, has made poker a popular spectator sport.

Having always been firmly against gambling (to the point where I have never even bought a lottery ticket), I had simply assumed that poker was another means for the statistically challenged to give away their hard-earned money to casinos.

To my surprise, it turns out that professional poker players are not gamblers. When playing professional poker, one is not pitted against the casino, but rather against one’s competitors. So, like active fund management, poker is also a zero-sum game. In order to win, good players must inflict their profits as losses on their competitors. To do this consistently, they have to be more skilled than their fellow players.

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The bets are on in poker — and fund management – Mail & Guardian Online: The smart news source

Author Contact Info: Matthew de Wet

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