While I'm not much of a card player, I do appreciate the discussion of probability and rational decision making in trading and investing. We also get a glimpse inside the workings of one of America's more secretive trading firms, Susquehanna International Group.
Here's an excerpt from John's post:
"Jeff Yass (and his trading firm Susquehanna) is a prominent example of Texas Holdem Investing in action. Although Yass has been intensely secret about himself and his firm in recent years he first appeared in the popular investment media through an interview with Jack Schwager for “The New Market Wizards: Conversations with America’s Top Traders”.
However, just this week the Philadelphia Magazine has written a detailed background piece on Yass and Susquehanna – Beating the Odds – which demonstrates the extent of the close links between poker and trading / investing. Susquehanna already featured on this site where it was described how the firm had held a poker tournament earlier this year in Dublin to select trainee traders for its European operations.
The Philadelphia Magazine piece goes to greater lengths in explaining some of the inner workings of Susquehanna and the integral role that poker plays in the training and work ethic of the firm’s traders..."
Be sure to also read the Philly mag piece, "Beating the Odds", in full. Interesting profile, to be sure.
Related articles and posts:
1. Dasan on poker and investing - Finance Trends.