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Poker taught me how to kill my risk-aversion. Or I suppose it taught me that I'm naturally not very risk-averse. You start to see your decisions in life as choo
by stanleydrew 17y ago
Poker taught me how to kill my risk-aversion. Or I suppose it taught me that I'm naturally not very risk-averse. You start to see your decisions in life as choosing a probability distribution over a set of outcomes. And then if you can reasonably assess the value of those outcomes (using whatever metric you choose, e.g. money in poker, or perhaps some more general "utility" in life) you can try to maximize your expected value.
Now don't get me wrong, you can be risk-averse and still analyze decisions this way. But poker helps you start to understand how you feel about things like investments and probable payoffs, and it helps you deal with loss. It helps you set up a framework for decision-making. After that you will relatively quickly discover how risk-averse you are.