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so sad day for the online poker world today. apparently the us senate decided to stick a little provision into the defense bill that aims to stop online gambling. it is yet to be seen how this will actually affect online poker, but one the world’s largest online poker site (party poker) has already said that they’ll stop operations if/when bush signs the bill into law. full tilt published a little bit more contentious of a response today on their blog.you probably know where i stand on the question of whether poker is a game of skill or a game of chance (there’s chance involved, but anyone who believes it is solely gambling wasn’t sitting at the same stud eight-or-better table as me tonight). but let’s not even get into that. let’s get into how ridiculous it is to outlaw online gambling, when i can walk down to garden city today and chuck hundreds of dollars into live poker games or (even worse) california blackjack.i guess the only good thing is that banning online poker might drive a lot of these online players into real cardrooms on real felt. that should prove pretty lucrative for those of us who play live regularly for a while. i can’t wait to see the numerous beginners’ tells i’ll get to see at garden city in the next few months…

chuck klosterman’s team usa proposal is not only entertaining, but also (honestly) pretty damn intriguing as a real option for our national basketball team. what i see when i watch our guys out on the court (in the world championships or anywhere else) is a group of players that are playing scared to fail. if dwyane wade, lebron, and company go off and win the olympics, the collective response from americans will be, “about damn time! sheesh, when were those greedy players ever going to get off their asses to not embarrass us?” if they lose at the olympics, the collective response from americans will be, “again? when will those greedy players ever get off their asses to not embarrass us?” in case you’ve never played sports, this is what we call a “no-win situation”=========main event chips fiasco: somehow, at the main event of the world series of poker this year, two million random chips were thrown into the prize pool at some point. let me repeat that: two million random chips showed up between day one and the end of the tournament. i’m glad that the writers figured out where those came from. now we just have to figure out how harrah’s can stop screwing things up. of course television has been integral in the poker boom, but just as important were the rise of honest card rooms, tournaments, and internet sites that let people play the game without feeling like they might get cheated…

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businessweek wrote an article on the best places to launch a career and i almost puked on myself (even though my new employer made the list, though since i didn’t start my career there i’m completely screwed). lists like this are so absurd that i can’t don’t even want to start getting into the utter uselessness of them. how exactly do you judge the best places to launch a career? here are the criteria, in their words:

With this ranking, BusinessWeek has put together a guide to the employers that really shine. Unlike other such rankings, BusinessWeek‘s incorporates feedback from three different sources. First we surveyed directors of undergraduate career services to find out which employers were creating buzz on campus. Next we asked those finalists to complete a questionnaire about pay, benefits, retention, and training programs, which we then compared with other employers in the same industry. Finally we asked Universum Communications to supply data from its survey of more than 37,000 U.S. undergrads about the finalists at the top of their list of most desirable employers.

great. so 2/3 of your feedback is going to come from people who are students (who haven’t even started a career), from people who listen to what those students tell them, and from the companies themselves. shouldn’t they rename the article to “places that college students most want to work at”? i guess that wouldn’t have the same ring…

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honestly, i think we’d be better off getting life and career advice from people like gene weingarten at the washington post. i especially like number five, about how using the bathroom will eventually become more satisfying for me than using the bedroom. great. looking forward to it…

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you’re crazy if you thought i wasn’t going to at least MENTION opening weekend of the nfl season. the niners looked ok which, believe me, is an enormous step up from the vomit that built up every time i thought about them last year. one of these years, i’m going to actually fulfill a life dream of finding some way to watch every single nfl game in real-time on the first day of the season. it’ll be a complicated plan that will involve getting all of my friends to bring over their own tv’s while i configure an intricate wiring scheme to turn the directv signal into ten separate games, all at the same time. hopefully my niners’ll be winning again by then…

a few months ago, i wrote a post entitled Short stack is power? in which i discussed a theory that i had involving the power of a short stack (i.e. 40-50x the big blind) in a no limit hold’em cash game. in my experience up to that point, playing with a short stack in a no limit cash game had been profitable and i concluded that having a short stack in a no limit cash game, where blinds are non-escalating and create no additional pressure on the players, is the optimal way to play.interestingly enough, over the past few months as i’ve built greater discipline and self-reflection in my poker game, i’ve come to realize that the short stack approach is, in fact, not always optimal. like everything in poker, there are situations at the table where starting with a substantial stack is truly beneficial for cash game play. let’s take a quick example hand from my week-long vegas trip in july.

i was playing in a $5-$10 no limit game and was sitting with around my starting stack at the table. i had bought in for $400 and had lost a small pot to leave me with $370. certainly 37 big blinds fell well within my range of ‘small stack cash game play’, so i was fine.

in late position, i picked up AcJs behind an extremely loose player who had raised to $30. he had me covered by a lot and i felt that i had a good read on his style of play. i called in position and the big blind called as well. the flop came down Jc-3d-4h. a great flop with me, with no flush draw and no real straight draws. after the big blind checked, the loose player put out a bet of $90. i was certain that i had the best hand given the player’s style and figured that i was looking at a J with a worse kicker. the big blind looked as though he was ready to fold.

in thinking over the situation, i debated between calling his bet of $90 (leaving me with $250 behind) or raising him immediately. i elected to call, wanting to make sure that i got all my money in against his probable 2- or 3-outter. this is, in fact, the small stack approach: find places to double through other players at the table. when the turn came with a blank and he stuck a bet of $150, i moved in for $100 more and he quickly called. he did, in fact, have J9 and i doubled up. hooray, right?

a couple of weeks later, as i thought about the play of the hand, i started to realize where the ‘small stack cash game’ approach fails. in the hand described above, i had a great read on the player and the amount of money that i won was capped only by the size of my stack. if i had started the hand with $500, i probably would also have been able to double through him. in fact, even if i had started the hand with $800, i might have been able to double through him. my edge over him was substantial, but i had handcuffed myself by limiting my own value in the hand by having a small stack.

at the same time, the opposite is also true. if my opponent had held a hand like QQ, leaving my stack size at $350 would have limited my loss in the hand. but when you have great positive EV in a game or against a player, why would you be interested in limiting the magnitude of your wins?

as i thought back on my no limit cash game play from the week, the first things i remembered were the horrific bad beats. but as i reviewed the play further, i came to realize that the size of those bad beats were huge because i didn’t always get full value out of other hands where i was certain to be a huge favorite. poker’s a difficult game with lots of ambiguity. in the cases where you know and like where you stand, wouldn’t it make sense to get as much of your money out there as possible?

playing with a large stack takes careful understanding of the intricacies of hands. it’s substantially more difficult than playing a small stack in a cash game. but if you’re comfortable with your standing in the game, buying in for a substantial stack can make more sense because of the added value from your winning hands. at the end of the day, it depends. the size of your buy-in for a cash game is contingent upon not just the size of the blinds, but on your playing style, your edge in the game, and your ability to skirt past tricky hands. there are many factors to consider and i was wrong: a short stack is not always power…

it’s late, er, early and i can’t sleep. time to do some writing instead, since i’ve been neglecting all of you out in reader land:firefox 2 beta 2 – mozilla firefox 2 is finally in a decently-stable beta form and 700 tech nerds spread out all over the bay area are rejoicing. in all honesty though, there are some nice things about the beta. for one, they finally got the closing of tabs right. also, subscribing to rss feeds is now a seamless user experience (big win). oh, and it looks nice. i’m still waiting for some really new sizeable innovations, but it’s a nice upgrade from firefox 1. and… now that i’ve written this, i’m not sure how it’s actually important to your life. but hey, it’s 4am so you should be happy you’re getting anything legible.moving again – i’m moving. again. it seems like i’ve spent the last six years of my life carting things around from place to place. you would think that doing so much moving would make me pack lightly, but you would be oh so wrong. somehow, such choice items as my dead ikea wall clock and a busted electric toothbrush have continued to make the cut every move. this time i’ll be taking residence in a nice 4-bedroom house in mountain view. each room has its own shade of nice new paint (i’m staring down the barrel of green, blue, or red) and there’s a quiet patio out back, perfect for barbeques. anyone who enjoys lifting heavy things should contact me soon .

financial nerdiness – i think one sign that you’ve become a personal finance nerd is if you actually think the following sentence to yourself when reviewing your new employer’s benefits: “oh sweet, we offer a roth 401(k). this is so fucking bomb.” note to self: describing a roth 401(k) as ‘fucking bomb’ is not only strange, but also probably inaccurate. i’m not sure where that tidbit was going, but hey, it’s 4:17am.

poker’s easy. sometimes. – i was playing in a 45-person sit-and-go to kill some time this afternoon, when i found 3d3h on the button with two limpers in front of me. i limped, the small blind called, and the big blind checked. as i looked back at the table a few seconds later, i did a double-take as i saw the flop 3c-2s-3s. yahtzee! but all four player checked to me. i tossed in a bet of about 1/4 of the pot to get the action going and had three callers. as i worried about how to get all of the money into the middle (we were pretty deep-stacked and i had all three players covered), the As rolled off on the turn, putting three spades on the board. before i even had a chance to act, the small blind pushed all-in (for about 3 times the pot), and the next two players also pushed all of their money into the pot. after i paused to make sure i wasn’t seeing things, i called and saw them flip over (in succession) KsQs, 2d2c, AdAc. amazing. sometimes poker’s so easy .

filed under ‘cool’: flickr geotagging – i know that it’s officially part of the enemy, but i’m still a flickr user. and, as a flickr user, i have to admit that i think the new ‘geo-tagging’ functionality is, for lack of a better word, ‘cool’. i just happen to hate the name (geo-tagging? can’t there be a better name than that?). i’d tell you what it is, but maybe it’s easier to just show you my photo map. note that not all my photos are geo-tagged yet, but i think it’s pretty neat anyway. it’s not going to change anybody’s life, but (as you all know) i love visualizing information in clever ways. this would qualify.

australia, here i come! – and i’ll leave you with this sobering news article. yes, i am actually going to be in port douglas in, oh, about three weeks. really good for the worry-meter there…

the wsop main event final table is today and jamie gold, the chipleader, is apparently quite the winning personality. every time i’ve read a cardplayer hand history, it’s been some ridiculous hand like ‘jamie gold calls off a bunch of chips with 78 and flops a straight.’ that’s the thing about poker though: sometimes you just out-flop people… for eight days straight…i think anyone who follows poker is probably rooting for allen cunningham. espn did a nice feature story on cunningham a few days ago, but people who follow poker already knew him to be one of the best players in the world, adept at every game and experienced in every situation. it’d also be great to see such a seemingly nice guy and quiet personality win the main event, after seeing how many asshole poker players are out there these days (check out shane schleger’s post for an example). it’d be nice to see a good guy like cunningham win.

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so if you’re a little confused about how i went from the statement that ‘my whole trip was this amazing experience that i haven’t digested yet’ to ‘the two lessons i learned from my trip are that poker is tiring and you need to not care about money,’ then this post is for you.between my week spent in chicago catching up with the stoopsons (stoops, will, pseudostoops, and baby stoops) and my week spent in las vegas, i had a host of small experiences that made me realize one thing: i’m way too young to be doing things that i don’t want to do. i think this was really driven home when stoops told me about a man we’ll call ‘father of pseudostoops’. most notably i was startled to find out that, before becoming a very successful business man, ‘father of pseudostoops’ played several years of beach volleyball for a living. i’m not quite sure why i was so stunned by that fact, though i have a theory. somewhere in my life i became convinced that if i wanted a ‘successful career,’ i had better get my ass out there right out of the gate. i never really argued this fact in my head; i just took it as fact. considering that being a professional beach volleyball player is probably not ‘career-advancing’ for anyone besides beach volleyball players, i suddenly found myself thinking about things differently. i mean, if pseudostoops’ dad could play beach volleyball for several years before launching into a wildly successful professional career, what exactly did that say about the necessity of getting on the corporate ladder as soon as possible?

what does that have to do with a week of poker? a few months ago, i had a conversation with a few friends where i noted that i hadn’t done very many ‘notable things’ (actual words) since i left school. i felt like i could count the number of such events on one hand. as you can imagine, that was in fact the conversation that sparked my plan to live in las vegas for a week, and it worked. twenty years from now, i’ll look back on the week that i spent living out of a suitcase in harrah’s as a great experience. i’ll fondly recount the time that i got all my chips into a huge pot as a 9:1 favorite and subsequently got crushed. well, maybe not fondly, but you know what i mean. i’m glad i spent that week because i was doing something notable (in my own mind) that i loved. sure i was in a rush to win chips, but it’s more that i was in a rush to do something that i wanted to do. i’m pretty sure ‘father of pseudostoops’ didn’t think he’d be playing beach volleyball for his whole life, but it was something he wanted to do.

now all of that is great, but what’s the actual implication for me? well, i used to at least believe in the idea of a Deferred Life plan. ‘save now so you can enjoy it later.’ ‘put in time at work now while you’re young.’ ‘get started on your career early.’ ‘work here for a few years until you’re ready to go to business school. THEN you can do whatever it is you want.’ actually pretty much anything that starts with ‘do this for a few _______ until you ______.’ all of these ideas are some variant of a Deferred Life plan. and i now think they are all bullshit. working in a job that you don’t like for some kind of other benefit (money, ladder-climbing, early retirement, etc.)? that’s bullshit. when i’m 60 years old, i’m not really interested in sitting around sunning myself in my huge mansion, happy that i saved so much money in my 20′s. i’m not into Deferred Life plans anymore. money is far less important than not wasting time. the tagline i like the most? Tell Better Stories.

so what am i planning in the next couple of months to not let that time slip away?

• taking a new job (more on that later)
• visiting a new continent
• playing more poker

there’ll be a time in my life when i’ll have to do lots of things that i don’t want to do. there’ll be time for compromises and sacrifices. i’m 24, that time’s not now. i’m way too young to be doing things that i don’t want to do.
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oh! i almost forgot about the best hand of the week last week, when my own girlfriend busted me in a big $3-$6 pot. i thought i should write about this since you would all find it so amusing.ivy wanted to get started in poker, so she sat down in the 1 seat of a $3-$6 game and i sat in seat 2, giving her advice on hands to play. i told her i wasn’t going to soft-play her in hands, since she needed to learn, so when i picked up AhQh on the button, i raised her limp. the two blinds called and she called. $24 in the pot.

the flop came 8-8-3, with one heart. everyone checked to me and i made a standard bet with position. all the players called. $36 in the pot.

the turn came with the A of spades. gin! i thought i probably had the best hand even on the flop, but i’d find out now for sure. the blinds checked and ivy checked. i, of course, bet and got one caller from the blinds and ivy sneakily flat-called me. $54 in the pot.

on the river came a 9. clearly i was going to bet here for value when it inevitably checked around to me… until ivy bet INTO me. what the hell? i looked at her trying to see if she had slowplayed an 8. i thought i told her not to play most hands with an 8 or lower in it. could she have 99 and hit a boat? maybe a worse A? she bum-rushed me into calling by laughing at me (clearly a sophisticated reverse tell) and dragged the $66 pot when she showed me the stone-cold cooler of A8.

kids these days, they learn so fast…

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phil ivey said on the circuit yesterday that, “if you’re not willing to take a thousand dollars out of your wallet right now and set it on fire, then you shouldn’t even consider playing poker.” while this is being said by a guy that plays $4000-$8000 every day, meaning that the exact sum is probably not applicable to players at lower limits, the point is valid: you need a disregard for the amount of money you’re playing for to be successful.it’s actually rather ironic when you think about it: poker players spend all day pursuing large amounts of money, it would seem that the money is important to them. in fact, at the table, the opposite is true. to play effectively and play un-scared, a poker player needs to have a disregard for the amount of money he has on the table. it’s meaningful only in terms of acquiring more chips. now this is something i read about in numerous books, but i didn’t really understand it until last week.

i sat down at a $5-$10 NL cash game last tuesday at the wynn, and immediately the difference from 2-5 was evident. guys were sitting at the table with mounds of chips, and 3-inch thick wads of 100′s behind them. i asked one player how much he had back there, and he absentmindedly replied, “about 25.” that’s not 25 hundred (incidentally, i realized quickly that my ‘short-stack’ thoughts on cash games is slightly incorrect. i’d write on this, but you’d be bored).

in the first hand i watched, i got some insight into what ivey meant. two players raised and re-raised each other before the flop and saw an AKQ flop. the first player, clearly a high-action asian guy of about 21, pushed in for about $900 into a $600 pot and the other player (an older tight guy) called instantly. i was positive that they would be flipping over set vs. set, or at the very least AK, which is in fact what the tight player showed. i jumped out of my chair when the asian guy flipped over 9T and rivered a J. he justified the play by saying, “i thought he had jacks or tens,” while he nonchalantly stacked about $2000 in chips.

now i’m not saying that 9T guy made a good play that will be profitable in the long run. he made a play at a pot with four outs. it was reckless and he got lucky. but he made a play at a pot without fear, based purely on a (very incorrect) read. is it a much more reasonable play with a flop like 673? probably. but his disregard for $1200 of his own money was telling.

after a few hours, i was finally comfortable at the stakes. but in retrospect, comfortable isn’t the right word. it’s just that i had “forgotten” the stakes that were in play. i know it sounds weird, but once you’ve been in the game for a few hours, you no longer worry about how much you bought in for. you just play poker. i’m not sure if that’s the disregard for money that phil ivey was talking about, but i think it might be.

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for all you poker players, next time you take a bad beat and you’re feeling bad? go watch this video (http://youtube.com/watch?v=Yg551su1KnM)… should make you feel better

the first thing i learned from last week is that being a full-time poker player is tiring. really tiring. sure, it’s not in a physical sense (because, after all, i sat around a table all day), but it is in a type of mental exhaustion that i’ve never felt before. i can remember spending hours studying for a class while in school and never feeling NEARLY as zombie-like as i felt every day last week after playing 10+ hours of poker. you can ask skratch, but when i got up from the table each night i could barely focus on talking about anything. part of that may have been the taxing emotional bad beats that i took (for personally disturbing amounts of money), but i think most of that was all of the time spent THINKING. why did he bet that much? what kind of hand would play that way? how should i play this hand? how much is in the pot? how little should i bet? who’s this new guy? how does that person play? when you sit at a table for ten hours a day thinking through all of these decisions in your head non-stop, you start getting tired, even when you don’t know it.on wednesday i played at caesar’s. i spent about three hours trying to set up this over-aggressive player who would overcall lots of hand. this guy was so hellbent on getting broke with one pair that i just needed to find the right spot. i eventually got a sizeable stack (about $450) into the pot very good against him and he sucked out on me HARD. so hard that even the dealer said, “wow, that’s pretty rough.” it’s fine. it happens. but in thinking back on the day, i was sick about what happened AFTER the hand.

about twenty minutes later, with another reasonable stack, i re-raised the hyper-aggressive norwegian guy on my right (Norway, for short) to $65 with KK, after he had raised to $20 with (probably) a shit hand. i knew Norway was an idiot and was glad to play my whole stack against him when (i imagined) he would inevitably push me in for $200. but things changed when the solid player in the SB (Solid, for short) re-raised to $250 even in the easiest motion i had ever seen. as Norway decided whether or not to call with KcTc (by the way kids, KT is a crap hand), i studied Solid, trying to figure out if he was strong or just trying to re-steal (since i very well could have been stealing from the donkey). he looked very strong.

because this is a story about how being tired can affect your play, you obviously know what happened. Norway laid down his monster two-card royal flush draw and i stuck my chips in the pot senselessly as a heavy dog. if there was ever a time to lay down kings before the flop, this was it. given a fresh brain with my read on the situation, KK is a tough but sensible fold. given a tired brain twenty minutes after a sick beat, KK is unfortunately an instant call. and subsequently an instant loss. i actually knew even before my chips got into the pot: poker is tiring and i can never get kings to catch up on aces.

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