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{July 24, 2008}   When the Economy Tanks, Turn to Poker

We all know the story. The dismal subprime mortgage crisis, lack of regulation at top banks, high oil prices, ongoing inflation concerns, slowing economy, rising unemployment and prices of commodities, and to top it all off, the Fed’s bailing out a few sinking companies… What kind of economy is this? Quite obviously, a bear market with not so pleasant surprises. In my opinion, when the economy is as volatile as is it right now, you’re better off playing poker for real money. Forget about investing in stocks for now.

Why play poker? It’s simple. The odds of winning at poker is a mix of luck, strategy, and skill. The odds of maintaining a healthy rate of return from your stock portfolio in such a volatile market? Not so much. Why not play poker instead? You can choose the stakes you’re comfortable with and leave when you cash in your poker winnings. Poker takes up less time too than investing. Why writhe in pain for weeks, even months on end quietly observing the Dow plummet, surge up, then rollercoaster down again when you can play poker and leave with your hard earned money as you wish?

Poker does the soul good. In such an uncertain market, poker gives you a little more control and confidencesomething lacking in today’s economy. Plus, poker is fun. Loads of it. Analyzing the behavior and trends of other players, bluffing, and making decisions based on partial knowledge are poker cornerstones. Sounds a lot like… investing, huh?

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