Comments on: My Mistakes http://www.investingintelligently.com/2006/02/11/my-mistakes/ Not just another (Canadian) financial blog Thu, 18 Mar 2010 12:48:27 +0000 http://wordpress.org/?v=abc By: MyMoneyBlog » Blog Archive » Reverse Carnival of Money Mistakes http://www.investingintelligently.com/2006/02/11/my-mistakes/#comment-1007 MyMoneyBlog » Blog Archive » Reverse Carnival of Money Mistakes Sat, 05 Aug 2006 23:09:23 +0000 http://www.investingintelligently.com/2006/02/11/my-mistakes/#comment-1007 [...] Investing Intelligently [...] [...] Investing Intelligently [...]

]]> By: MyMoneyBlog http://www.investingintelligently.com/2006/02/11/my-mistakes/#comment-153 MyMoneyBlog Wed, 15 Feb 2006 07:59:22 +0000 http://www.investingintelligently.com/2006/02/11/my-mistakes/#comment-153 <strong>Reverse Carnival of Money Mistakes...</strong> Wow, I am really impressed with the great quality and variety of submissions for this Reverse Carnival of Money Mistakes. Everything from everyday expenses to complete lifestyle overhauls is covered, and I'm sure everyone reading it can relate to at l... Reverse Carnival of Money Mistakes…

Wow, I am really impressed with the great quality and variety of submissions for this Reverse Carnival of Money Mistakes. Everything from everyday expenses to complete lifestyle overhauls is covered, and I’m sure everyone reading it can relate to at l…

]]> By: Dave http://www.investingintelligently.com/2006/02/11/my-mistakes/#comment-150 Dave Mon, 13 Feb 2006 17:18:34 +0000 http://www.investingintelligently.com/2006/02/11/my-mistakes/#comment-150 That's true. Card counting is a sure way to beat the house. Although I wasn't using card counting. I thought I could win just by following the basic strategy and always quitting while I was ahead. For example if you start with $20, quit as soon as you get to $40. The trouble was that in the end you will go from $20 to $0 more more times than you will be able to get from $20 to $40. It was pretty stupid... That’s true. Card counting is a sure way to beat the house. Although I wasn’t using card counting. I thought I could win just by following the basic strategy and always quitting while I was ahead. For example if you start with $20, quit as soon as you get to $40. The trouble was that in the end you will go from $20 to $0 more more times than you will be able to get from $20 to $40. It was pretty stupid…

]]> By: 0xCC http://www.investingintelligently.com/2006/02/11/my-mistakes/#comment-149 0xCC Mon, 13 Feb 2006 14:40:30 +0000 http://www.investingintelligently.com/2006/02/11/my-mistakes/#comment-149 It is actually possible to beat the house in blackjack with just the right technique. The problem is that you need a whole team of people and a mountain of cash. There was a book written about a team out of MIT that did this. They ended up getting banned from most of the American casinos but they had a pretty good run while they did it. A little <a href="http://www.answers.com/topic/mit-blackjack-team">more detail here</a>, and there is a book, Bringing Down the House as well as a documentary (which is where I found out the details of this) called Breaking Vegas. It is an interesting story and I personally believe that it is totally possible but you need to treat it as a business and remove as much emotion from the process as possible (hmm, sort of sounds like the stock market ;) ). It is actually possible to beat the house in blackjack with just the right technique. The problem is that you need a whole team of people and a mountain of cash. There was a book written about a team out of MIT that did this. They ended up getting banned from most of the American casinos but they had a pretty good run while they did it.

A little more detail here, and there is a book, Bringing Down the House as well as a documentary (which is where I found out the details of this) called Breaking Vegas.

It is an interesting story and I personally believe that it is totally possible but you need to treat it as a business and remove as much emotion from the process as possible (hmm, sort of sounds like the stock market ;) ).

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