Wednesday, May 30, 2007

Time to Jinx Myself

I've been playing $10/20 NL a lot for the last few weeks. Been doing a lot of data-mining, reading 2+2 (though I still can't participate) and going over hands with friends via AIM.

I've made over $30,000 this week, $16,000 in a 90 minute session just now. All of this means nothing of coarse about my ability to beat the game. I've been playing around with it at maybe 5,000 hands per month for the last couple of months...I have a splendid run up like this and then start to play like crap when I stop running hot as the sun.

Up a good $50,000 in the game overall though. Again, still am not positive I can beat it in the long run and definately know I do not have the mental fortitude required to play it 50,000 hands per month. Fun for now though.

Thanks for hearing me brag, now get back to the tables!

Wild Bill

Thursday, May 24, 2007

Jonathan Little (FieryJustice): WPT Champ

The first STT forum guy to win a major event. I've known Jonathan for over two years now and feel a bit proud to have seen him come this far. He made this post on 2+2 in 2005 asking us whether he should quit his job to play poker full-time. He ultimately decided that was the right decision and has gone onto dominate first high stakes SNG's, and now live MTT's. He cashed a ton in last years WSOP and has had a sick sick sick run since then.

Currently he is 2nd in the CardPlayer Player of the Year rankings.

Wow. Just wow.

Well done sir, keep it up!

Tuesday, May 22, 2007

Looking Good for Internet Gambling

Two articles recently have indicated that the Treasury Department is dragging its feet putting regulations into place for the UIGEA that pass in October. They gave 270 days, which is almost up, and still no regulations.

I'm thinking of applying to run the following department:

We estimate that about five federal employees working on this could keep and maintain a list of Internet gambling operations

Me and my staff of four will be responsible for maintaining a list of online gaming establishments and payment processors.

Our government is nothing if not efficient...

Thanks for reading, now get back to the tables!

Wild Bill

Friday, May 18, 2007

Rich Dad Poor Dad

I just re-read this great book. It was reccomended to me for the first time six months after I had finished University. I was working a $500 per week job, taking the train each day, 90 minutes each way, to work. I had no car, a hugely negative net worth and absolutely no idea how to manage or build wealth.

My future goals consisted of working my way up in my current job, or finding a better one, and impressing my current and future bosses enough to get a high paying salary.

This book opened my eyes. After I read this book I knew I would only work for others as long as was necessary to put its advice into action.

My parents were and are poor. After I read this book, I was no longer poor. I was broke, but not poor. As Kiyosaki states in the book, 'broke is temporary, poor is eternal'.

I'll give some highlights of the book but you really should let the author work his magic and read it yourself. If you have any interest in becoming wealthy, you are only hurting yourself NOT to read it:

1. The poor and the middle class teach their kids how to 'climb the ladder': the rich teach their kids how to 'own the ladder'

2. The rich earn, spend all they can, and pay taxes on what is left over. The poor earn, pay taxes, and spend what is left over.

3. You want to acquire assetts and minimize the acquizition of liabilities.

There is a whole lot more but thats what initially came to mind.

What this book did for me:

It has made me an absolute fanatic about acquiring income producing assets. Websites, debt, bankrolling players, CD's, stocks...whatever I can find. Next up on this list is real estate. If I can find a piece of property where the monthly rent will cover the mortgage, chances are, I'm going to buy it. The problem is that hasn't been possible really in the US for years, but I think it may be soon.

I live a rather lavish lifestyle, at least compared to most people my age, and I cannot yet stop working and have my assets fund my lifestyle...acheiving true financial freedom. Though if I were to lead a more modest existance I could. So theoretically speaking, at the age of 26, I could retire.

Sure I've done some of this myself and had guidance and help from other places and people (and a lot of luck!) but this would not have been possible if I had not read this book...or learned its lessons some other way.

I suggest you read it as well, be sure to send me an email thanking me after you make your first million!

Thanks for reading, now get back to the tables!

Wild Bill