TheSnapper's Start Bank: $198,00
Mr. Kelly's Bank: $3 213,76
Mr.Kelly's Start Bank: $20,00
Longshot Larry's Bank: $179,46
Longshot Larry's Start Bank: $100,00
Shannon's Demon: $1 707,10
initial investment: $1 779,74
profit: -$72,64
Total Funds: $4 734,99
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A crappy day for Mr.Kelly yesterday. He went 1/5 and went down -$274. I also got pummelled, going 2/4 for a -$29 loss. Only Longshot Larry hit any profit yesterday, he was only around to lay 3 bets, winning all of them for a $7 gain. Always a crazed smile on that guy's face!
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The markets are in fear mode at the moment, so the Demon is starting to buy, buy,buy. (Remember, all of these purchases of stocks and bonds are from profits from horseracing lay betting since December on this blog. I have only used profits from my betting to generate more profits in stocks and bonds...). The Demon has no profit at the moment because he has been busy buying stocks and the market has been dropping. Keynes once famously said the the market can stay irrational longer than you can stay liquid. What he meant was that most investors can't keep buying and buying as the market drops and drops because at some point they run out of money and have to give up and cut their losses.
Shannon's Demon never runs out of money (in theory, anyway). It can be as liquid as the market is irrational, and can stand in there as long as it takes. That's not a problem for him. The Demon will buy and buy and buy in exactly the right amounts that will preseve his bank as the market drops. One day the markets will recover and the Demon will enjoy great profits....and then he will begin selling it as the market overreacts on the way up in a buying frenzy (like in 1999).
One point about my Demon. If you set up a demon to buy stocks you are playing with a time horizon of many years. For the purposes of this blog, I should perhaps have set up a demon only using cash and bonds, because the time-scale of the blog is to reach Florida within a year. Such a short time-scale normally means investors should be looking at bonds and cash, not stocks, because they are a much better short-term investment (risk-wise) than stocks. That means that I don't have years and years to wait for the Demon to generate stock profits. But what the hell, eh?
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My good friend, GreenGiant has also been stomping around the Sit and Go 10-handed tournaments, crushing most that stood in his way and keeping the flow of green going the right way. Yesterday, the big green guy had 1 win and 1 third, hitting the money 2 out of 4 times.
Poker is a great way to build a bankroll from nearly nothing.My bankroll is now up to $257 by following a simple tournament strategy that grinds our steady profits over time. It's a big myth that you need to be really smart to win at poker. Nope. You just need to follow a long-term strategy and have iron disciple (just like laying horses on Betfair). There is certainly big money to be made down the road. The great thing is that you can keep scaling this up to higher and higher levels, although that edge is sure to drop as you move up against tougher opponents!
Just keep your buy-ins at 1-2% of your bank, and follow a simple strategy so you don't need to think at all. Play a few SNG tournaments each day and your bankroll over time will grow. Enter higher tournaments as your bankroll increases.