When I was about six, my father asked me if I knew what the word “exploitation” meant. I shook my head “no.” “Get me a beer and I’ll tell you,” he said. I brought him the beer and he said nothing. He just smiled. I wish I could tell you that I learned my lesson on that [...]
Technically, I shouldn’t have been there. I was the only first-level manager in a sea of higher-ups. My fourth-level manager should have attended the weekly meetings. But he was a single 40 year-old, going on 14. The last thing he wanted to do was burn Friday nights at work. I ended up with the short straw. The meetings [...]
“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 [...]
“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 subprime mortgage-backed [...]
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 [...]
Before Stuey Ungar went on to win three World Series of Poker Championships, he was a world class gin player - maybe the best that ever lived. Ungar was so good he had trouble getting action, which is why he eventually took on a suspected cheat. During the match, Ungar’s bodyguard informed him that his [...]
Reading Dr, Pauly’s Lost Vegas: The Redneck Riviera, Existentialist Conversations with Strippers and the World Series of Poker was a guilty pleasure. I had always been an avid reader. But when I was freelancing, so much of my effort had to be concentrated on outflow versus inflow. Starting sometime last year, however, my reading drought ended and [...]
Tim Lavalli and I were hardly the only reporters who noticed. The entire media room was buzzing when the final chip counts on Day Seven of the 2006 World Series of Poker were announced. The fact that the count was two million too high escaped almost no one. Yet Tim and I were the only [...]
The second article in the series went into excruciating detail to refute the “race-off” explanation for the introduction of two million extra chips into the 2006 World Series of Poker. At the time of its publication, Harrah’s was still publicly affirming this explanation. We subsequently learned, however, that by the time these articles were published, Harrah’s had proof [...]
Two Million Questions: Will Poker Answer (Part III) by Amy Calistri and Tim Lavalli, originally published September 8, 2006 In Part II, we dismissed the possibility that two million extra chips found their way into the 2006 WSOP Championship Event through the normal processes of blinding off dead stacks and chip race-offs. We also noted that the [...]
Last month, I wrote this article for StreetAuthority.com on casino and gambling stocks. Any way you cut it, gambling stocks are still under pressure. But I picked one B&M and one online company I thought had the edge. Both companies made the news last week, making me look smart. Wynn Resorts received approval from Hong Kong regulators last week to [...]
Where does the answer lie? Living from day to day If it’s something we can’t buy There must be another way We are spirits in the material world – The Police We all know people who suffer from disposaphobia. When my Auntie Alice died, there were hundreds of National Geographics stacked in the attic — and that was just for starters. I [...]
“In other words, it didn’t matter that the failing banks didn’t pee in the pool, other banks did. And in banking, like life, the notion of a peeing and a non-peeing section in a swimming pool is meaningless.” – Paul Kedrosky If you didn’t already know that Paul Kedrosky was NOT a graduate of the Chicago [...]
I thought you’d all enjoy the latest tattoo from my home game. That’s William’s arm sporting a brand new hammer. He didn’t name names (Torres), but it was apparently in honor of the “any two” strategy successfully employed by some of our members. You might think I take the moral high ground when I’m behind the [...]
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