Monday, November 14, 2011
When you have no move, do nothing...
"...You have no move, Mr. Thompson. You do nothing.".
Reflecting on Nucky Thompson's compromised position in the most recent episode of Boardwalk Empire, Arnold Rothstein (played by Michael Stuhlbarg) tells the embattled Atlantic City treasurer/gangster to simply wait and plan for a time when there is a move to be made.
"I've made my living, Mr. Thompson, in large part as a gambler. Some days I make 20 bets. Some days I make none.
...There are weeks, sometimes months in fact, when I make no bets at all because there simply is no play. So I wait, plan, marshal my resources and when I finally see an opportunity and there is a bet to make, I bet it all.".
Leaving aside the near-certainty of fixed bets and the part about "betting it all", doesn't this sound like the strategy of a good speculator? When there is no clear move to be made, you must simply wait and do nothing until the real move (the true opportunity) presents itself.
Then, having protected your capital and your wits, you may step in and seize the opportunity.