Poker blogger Micheal Kaplan noticed a number of smart men line up to play poker against the best guys out there – and lose, because they aren’t very good.(Luckily for us, he doesn’t spare them any dignity by not naming them.)
Hustler publisher Larry Flynt, Texas banker Andy Beal, Cirque du Soleil creator Guy Laliberté, and California-based real estate investor Bob Safai, for example (check out Kaplan’s article for more names), he says, are all pretty terrible, but they keep coming back for more.
Why the hell?
Aaron Brown, the (pictured) risk manager for AQR Capital and a former professional poker player, has a good answer.
“[Because of poker ] I am not afraid to make a trade that other people think is crazy. In that regard, the most valuable thing I’ve gained from poker is not money or contacts.”
Poker made him a man.
“The most valuable thing I’ve got from poker is what it has done for me as a man. It turned me into a person who can win at things that require focus, intelligence and psychology.”
Poker also helps perfect trading strategy.
“In trading and in poker you need zero memory.”
By the way, props to Cliff Asness for hiring this guy to be his hedge fund’s, AQR’s, risk manager, and not just a trader who has a risk manager to keep him in check – balls.
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