February 4, 2019
Last time we explored the idea of Pot Odds, by drawing parallels to a “risk/reward” approach. Let’s Shoot some Hoops! Here is a quick review: For the basketball fans out there, think of Stephen Curry, arguably one of the best 3-point shooters in the history of the game. Even for a player like that, a […]
January 17, 2019
Ever heard of the phrase “risk/reward”? Well, a 5 year old probably hasn’t, so it is only fair for me to elaborate. Basically, as the two words suggest, a risk/reward situation is an occasion where a person is willing to risk something in the hopes of getting a nice reward in the end. Risk/reward scenario: […]
November 21, 2018
Since we now know what the words “Out” and “Equity” mean, let’s explore a very simple example that uses these concepts as well as some elementary school math (our favorite kind!) to quickly and accurately estimate a player’s chance to win the hand! Clearly, the more Outs the better, since the more ways one has […]
October 30, 2018
Most finance textbooks define Equity as the difference between the value of an ‘asset’, minus the value of all ‘liabilities’.