borrowed money
- Thread starter Tbone1020
- Start date
Nick_Escalantes: "Friends of mine have lost their rent monies due to cold cards and then come to me for a loan."
I hope you didn't lend it to them. These friends either are degenerate gamblers, or they are degenerate gamblers.
Real APs do not lose rent money to "cold cards." In fact, in my circles, I don't think I've even heard the phrase ever used. I think every time I've heard the phrase "cold cards," it was coming out of the mouth of a poker player who practices self-delusion.
StandardDeviant, leverage doesn't work here because BJ cannot be scaled linearly. You can't just bet twice as much and win (lose) twice as much. Table and heat limits kick in very quickly. A player who is just under the radar with his own money would suddenly take on a lot of heat if an additional investor came in and forced the player to bet for two.
I hope you didn't lend it to them. These friends either are degenerate gamblers, or they are degenerate gamblers.
Real APs do not lose rent money to "cold cards." In fact, in my circles, I don't think I've even heard the phrase ever used. I think every time I've heard the phrase "cold cards," it was coming out of the mouth of a poker player who practices self-delusion.
StandardDeviant, leverage doesn't work here because BJ cannot be scaled linearly. You can't just bet twice as much and win (lose) twice as much. Table and heat limits kick in very quickly. A player who is just under the radar with his own money would suddenly take on a lot of heat if an additional investor came in and forced the player to bet for two.
Heat is a very big factor here. I am quite comfortable playing with my $3,000 BR. I know quite well what I can get away with in which casinos. Suddenly adding another 10 grand to my BR would increase my bets and put me out of my comfort zone. I'd rather build it slowly.
On the other hand, a $10,000 infusion would allow me to play some of the better games I now avoid due to BR restrictions.
On the other hand, a $10,000 infusion would allow me to play some of the better games I now avoid due to BR restrictions.
Technically it is other investors' money. It comes from the brokerage house, which borrows it from the Fed at a discount just like a bank does. So the brokerage is an investor in your margin account because they make a profit on the rate difference. But the brokerage only lets you put it at risk under their terms, they know exactly what you are doing with the money and will terminate the agreement (with a margin call) when they see fit.
This is unlike investing in AP's because the investor isn't constantly monitoring the money, and the investor can't come take it out of your pocket any time they want to. The AP could just disappear.
The biggest problem I would have with accepting investment funds is explaining what happened if I have 3 or 4 SD's of bad luck, or get robbed in the parking lot. Along with losing the money no one would have a reason to believe or trust me again. I don't think I'd accept money from anyone who isn't also an AP and is able to do due diligence by standing there and watching it all happen.
This is unlike investing in AP's because the investor isn't constantly monitoring the money, and the investor can't come take it out of your pocket any time they want to. The AP could just disappear.
The biggest problem I would have with accepting investment funds is explaining what happened if I have 3 or 4 SD's of bad luck, or get robbed in the parking lot. Along with losing the money no one would have a reason to believe or trust me again. I don't think I'd accept money from anyone who isn't also an AP and is able to do due diligence by standing there and watching it all happen.
I agree on the "technicality", but that is really reaching for the bunch of banana's there AM.
The money you receive on Margin is not based on your qualities, looks, AP, honesty, how you play, your skills, etc.. You can be the biggest jack ass loser put on this earth. It's based on the value of your securities/assets and they (the brokerage) can make a margin call at any time, although usually they do not unless the value of your assests have decreased below the required ratio.
I haven't had the experience of another AP or investor backing me, but I would have to say that they can pull out at any time unless there is a written agreement stating otherwise.
but there's no reason to continue this conversation or this thread... we've gotten off the path and have all answered the OP's question.
BJC
The money you receive on Margin is not based on your qualities, looks, AP, honesty, how you play, your skills, etc.. You can be the biggest jack ass loser put on this earth. It's based on the value of your securities/assets and they (the brokerage) can make a margin call at any time, although usually they do not unless the value of your assests have decreased below the required ratio.
I haven't had the experience of another AP or investor backing me, but I would have to say that they can pull out at any time unless there is a written agreement stating otherwise.
but there's no reason to continue this conversation or this thread... we've gotten off the path and have all answered the OP's question.
BJC