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What are ideal investments for fulltime poker players?

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    #32
    Goodluck2me
    Registered Users Posts: 5,398 ✭✭✭Goodluck2me


    The Al Lad wrote: »
    How ??? because I don't frequent the george on a weekly basis:pac::pac::pac:
    No it's because your an idiot. Now tell me how what I said was wrong?


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    #33
    The Al Lad
    Closed Accounts Posts: 1,252 ✭✭✭The Al Lad


    goodluck2me wrote: »
    No it's because your an idiot. Now tell me how what I said was wrong?

    Calm down you whiney little tart I was joking did I touch a neve with the george jibe ??? :p


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    #34
    Lafortezza
    Registered Users Posts: 8,806 ✭✭✭Lafortezza


    Back on topic, stop with the gay jokes DeV's hair doesn't like them.


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    #35
    Russh
    Registered Users Posts: 490 ✭✭Russh


    The Al Lad wrote: »
    How ??? because I don't frequent the george on a weekly basis:pac::pac::pac:

    LOL....!


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    #36
    Verbal_Kint
    Closed Accounts Posts: 417 ✭✭Verbal_Kint


    share spreads are gambling. the point here is that successful poker players don’t consider poker to be gambling so why would they put their nest egg into a huge gamble such as spreads. eastern european property particularly sites if you want minimal extra workload. end of!


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    #37
    Doc Farrell
    Registered Users Posts: 2,882 ✭✭✭Doc Farrell


    Verbal_Kint wrote: »
    share spreads are gambling. the point here is that successful poker players don’t consider poker to be gambling so why would they put their nest egg into a huge gamble such as spreads. eastern european property particularly sites if you want minimal extra workload. end of!


    I'm guessing this is genius irony?

    i know lads who have saved for years and are now investing in Bulgaria. Show them a map and they locate it somewhere near north italy. i'm sure it fascinating like many other countries on the black sea but they're about to lose all their money.

    Warren Buffet has two rules for making money.
    1. Do not lose money.
    2. See rule 1.

    investing is inherently a big risk.

    If you want to make money fast find a product that people want immediately. If i had two grand i would ask the guy on dun laoghaire pier who sells coffee from a portable barista coffee stand where he got it and get one, get the licence from the city council and start selling coffee.

    Michael Buble is playing in Donnybrook in July for two nights. You would double your money in those hours.

    I can get cigars wholesale from Spain. Add those to the stand. Go to the rugby games.

    Alternatively, Halifax is owned by the Bank of Scotland and is a safe bet.

    Find a semi derelict building in the city centre. Get a six month lease. Open a coffee shop, live music venue and art gallery for the summer. have a smoking section. by the time the city council shut you down summer will be over and you will have made enough contacts to move onto your next project.

    money is out there to be collected if you give people want they want.

    do not invest in property, you cannot afford it.


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    #38
    luckylucky
    Registered Users Posts: 2,437 ✭✭✭luckylucky


    The more I think about it, the more I think that Redjoker's point about putting my money in a risk free investment is very sound thinking. As I am still counting this money as part of my bankroll, there may come a time when I need access to it, as RJ says that time may come at the worst possible time. Also as a poker player what I do on a daily basis is volatile, another high risk investment/high reward investment is not a priority I think. I think this is the essential difference from someone who has a regular job. Ironically, though the vast majority of people are more risk adverse than us poker players, the guy with the steady job/lifestyle, is in a better position to have a punt on the stock market. Down the line, if things go well, I might look to invest into something a bit more dynamic, but I think it'll be as RJ suggests. i.e. to do it with money that is to be considered no longer part of my roll.


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    #39
    ocallagh
    Registered Users Posts: 3,140 ✭✭✭ocallagh


    Doc Farrell wrote: »
    I'm guessing this is genius irony?

    i know lads who have saved for years and are now investing in Bulgaria. Show them a map and they locate it somewhere near north italy. i'm sure it fascinating like many other countries on the black sea but they're about to lose all their money.

    Warren Buffet has two rules for making money.
    1. Do not lose money.
    2. See rule 1.

    investing is inherently a big risk.

    If you want to make money fast find a product that people want immediately. If i had two grand i would ask the guy on dun laoghaire pier who sells coffee from a portable barista coffee stand where he got it and get one, get the licence from the city council and start selling coffee.

    Michael Buble is playing in Donnybrook in July for two nights. You would double your money in those hours.

    I can get cigars wholesale from Spain. Add those to the stand. Go to the rugby games.

    Alternatively, Halifax is owned by the Bank of Scotland and is a safe bet.

    Find a semi derelict building in the city centre. Get a six month lease. Open a coffee shop, live music venue and art gallery for the summer. have a smoking section. by the time the city council shut you down summer will be over and you will have made enough contacts to move onto your next project.

    money is out there to be collected if you give people want they want.

    do not invest in property, you cannot afford it.
    huh? property is great. Banks buy the houses for you. This allows you to gear in a way you just couldn't do with coffee shops. Long term it's low risk, and as long as you have the money to pay the mortgage you're fine. I would agree with you short term in Dublin. If I was looking to live somewhere in Dublin I'd rent for the next few years before even considering to buy. Even if I did buy it would be an investment and I'd continue to rent (much higher standard of living renting)

    Coffee shops are full of risk too and they make **** all money. Average sized will pull in around 20k-100k per year profit. Some fail and go bust (a friend has 1 very succesfull shop but when he tried to open similar ones in other areas they failed). They are not cheap to setup either and if you want to buy a profitable one you'll need to wait a few years to see a return.


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    #40
    Goodluck2me
    Registered Users Posts: 5,398 ✭✭✭Goodluck2me


    ocallagh wrote: »
    huh? property is great. Banks buy the houses for you. This allows you to gear in a way you just couldn't do with coffee shops. Long term it's low risk, and as long as you have the money to pay the mortgage you're fine. I would agree with you short term in Dublin. If I was looking to live somewhere in Dublin I'd rent for the next few years before even considering to buy. Even if I did buy it would be an investment and I'd continue to rent (much higher standard of living renting)

    Coffee shops are full of risk too and they make **** all money. Average sized will pull in around 20k-100k per year profit. Some fail and go bust (a friend has 1 very succesfull shop but when he tried to open similar ones in other areas they failed). They are not cheap to setup either and if you want to buy a profitable one you'll need to wait a few years to see a return.
    It depends on whether rents are high or not, if rents are high you are better off renting out a place and renting somewhere else as you should get relativey nice place for a good rent, but if they are low and income wise you cant afford somewhere decent its prob just better to live in your own place.
    I also think this isnt the worst time to buy, last year would've been, but bad sentiment market=buyer market imo.


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    #41
    Lazare
    Registered Users Posts: 4,412 ✭✭✭Lazare


    The Al Lad wrote: »
    How ??? because I don't frequent the george on a weekly basis:pac::pac::pac:

    I'm guessing you're basing this on my previous sig, I'm sorry to piss on your chips, but I was lying.

    Joe is a definite heterosexual, but I have it on good authority that he only has eyes for women aged 60+.


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    #42
    HiCloy
    Registered Users Posts: 1,080 ✭✭✭HiCloy


    As a protection for your main source of income, you could bet on the share price of poker companies falling. If there's legislation news or just a downturn in the poker market, the prices of the shares would be expected to fall, so you'd win. You could do it on a share such as Partygaming - american listed shares would be harder

    Delta index and others would do this sort of thing - details
    http://www.deltaindex.com/home/web/downloads/shares.pdf


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    #43
    Goodluck2me
    Registered Users Posts: 5,398 ✭✭✭Goodluck2me


    HiCloy wrote: »
    As a protection for your main source of income, you could bet on the share price of poker companies falling. If there's legislation news or just a downturn in the poker market, the prices of the shares would be expected to fall, so you'd win. You could do it on a share such as Partygaming - american listed shares would be harder

    Delta index and others would do this sort of thing - details
    http://www.deltaindex.com/home/web/downloads/shares.pdf

    I wouldnt advice this as the flip side doesnt really comeo into play, if the poker companies do better for instance cracking China etc you wont get anywhere near the reward from the new players to cover a massive spread. Only bet on spread when you really know what you are talking about (not implying Hicloy doenst - but generally speaking)


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    #44
    hotspur
    Registered Users Posts: 2,327 ✭✭✭hotspur


    HiCloy wrote: »
    As a protection for your main source of income, you could bet on the share price of poker companies falling. If there's legislation news or just a downturn in the poker market, the prices of the shares would be expected to fall, so you'd win. You could do it on a share such as Partygaming - american listed shares would be harder

    You'd be in a sorry state if you did that 2 weeks ago for Party, and notwithstanding the volatile nature of the share and the US DOJ deal that has yet to be hammered out this year it is undervalued in my opinion and will likely be a multiple of its current price in 2 years.


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    #45
    crip17
    Closed Accounts Posts: 37 ✭crip17


    hotspur wrote: »
    You'd be in a sorry state if you did that 2 weeks ago for Party, and notwithstanding the volatile nature of the share and the US DOJ deal that has yet to be hammered out this year it is undervalued in my opinion and will likely be a multiple of its current price in 2 years.


    +1


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    #46
    RoundTower
    Registered Users Posts: 5,083 ✭✭✭RoundTower


    still a bad holding for poker players looking to diversify, though. right?


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    #47
    Verbal_Kint
    Closed Accounts Posts: 417 ✭✭Verbal_Kint


    in reply to the person who said that eastern europe properties are not a good investment and then went on to list a number of entrepreneurial activities you are talking to people here who do not have the time to go to a pier and open a coffee stand. We are looking for investments that will not take up too much of our time researching let alone managing. Although from an entrepreneurial aspect with 2 grand your ideas are very sound. Good luck.


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    #48
    ianmc38
    Registered Users Posts: 7,754 ✭✭✭ianmc38


    spectre wrote: »
    Halifax have a very good current a/c with 10% interest up to a max of €2000 per annum. I think you have to lodge a minimum of 1500 per month though. So by lodging 20K for your first month and the bare 1500/month for the rest of the year, you should make €2k.



    What if the bank went broke? Very unlikely of course but if it did, you may lose your money (or so I'm told - open to correction)

    Have you got a link to that Halifax account? Cant find anything about it on google


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    #49
    spectre
    Registered Users Posts: 729 ✭✭✭spectre


    ianmc38 wrote: »
    Have you got a link to that Halifax account? Cant find anything about it on google


    http://www.halifax.ie/index.jsp?pID=94&nID=520

    Edit: I think they will pay the 10% on a max of 2k per month. Anything you lodge over the 2k will attract some nominal interest rate.


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    #50
    ianmc38
    Registered Users Posts: 7,754 ✭✭✭ianmc38


    Sweet thanks for the info


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    #51
    ollyk1
    Closed Accounts Posts: 2,533 ✭✭✭ollyk1


    ianmc38 wrote: »
    Sweet thanks for the info

    I find having one of their flexible savings accounts (paying 5.15%) in tandem with the current account means you can keep the current account topped up at 2k and get a decent interest rate on the excess whilst having 100% flexibility.


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    #52
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Theres only one investment that makes sense for the poker player. Excuse the shameless self promotion :D

    http://www.ireland.com/newspaper/property/2008/0515/1210770652307.html


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    #53
    Bandara
    Registered Users Posts: 3,282 ✭✭✭Bandara


    Doc Farrell wrote: »
    I'm guessing this is genius irony?

    i know lads who have saved for years and are now investing in Bulgaria. Show them a map and they locate it somewhere near north italy. i'm sure it fascinating like many other countries on the black sea but they're about to lose all their money.

    Warren Buffet has two rules for making money.
    1. Do not lose money.
    2. See rule 1.

    investing is inherently a big risk.

    If you want to make money fast find a product that people want immediately. If i had two grand i would ask the guy on dun laoghaire pier who sells coffee from a portable barista coffee stand where he got it and get one, get the licence from the city council and start selling coffee.

    Michael Buble is playing in Donnybrook in July for two nights. You would double your money in those hours.

    I can get cigars wholesale from Spain. Add those to the stand. Go to the rugby games.

    Alternatively, Halifax is owned by the Bank of Scotland and is a safe bet.

    Find a semi derelict building in the city centre. Get a six month lease. Open a coffee shop, live music venue and art gallery for the summer. have a smoking section. by the time the city council shut you down summer will be over and you will have made enough contacts to move onto your next project.

    money is out there to be collected if you give people want they want.

    do not invest in property, you cannot afford it.

    I'm sorry but this is the worst advice I've ever read on here, and its completely incorrect, and completely impossible to do, from so many different points. Not least legal ones.


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    #54
    ianmc38
    Registered Users Posts: 7,754 ✭✭✭ianmc38


    Deleted User wrote: »
    Theres only one investment that makes sense for the poker player. Excuse the shameless self promotion :D

    http://www.ireland.com/newspaper/property/2008/0515/1210770652307.html

    I hope it's a better deal than Cat Uranium!?


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    #55
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Hehe did you end up buying any of that? CAT was strictly only for gamblers like yourself :pac: this I can guarantee quality


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    #56
    cardshark202
    Registered Users Posts: 5,434 ✭✭✭cardshark202


    Hammertime wrote: »
    I'm sorry but this is the worst advice I've ever read on here, and its completely incorrect, and completely impossible to do, from so many different points. Not least legal ones.

    I doubt he was being serious. Well maybe he was lol.


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    #57
    Chucky the tree
    Closed Accounts Posts: 19,341 ✭✭✭✭Chucky the tree


    http://www.boards.ie/vbulletin/showthread.php?t=2055295479


    imo


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