"More importantly, mickey thought 8-4 was two games over .500. Argued about it. C'mon, man. Nothing can top that for math expertise. If GWAE ever has you on again, you can be sure I'll be calling in with that gem.'Nuff said." REDIETZ
Look at one of the wealthiest gambling superstars Billy Walters. The wall street suits took him to the cleaner’s big time. He may have known when to hold them, and knew when to fold them. But when he thought he was able to mix it up with the big boys he got hammered and put back in his place. His huge losses on Wall Street got others out of terrible stocks with his money and huge profits. He was just an Advantage Play for the suits.
Yes Mickey, I lived most of my life in suits and ties.
I'm going to flip some of blackhole's comments around since I briefly worked with Mr. Walters and have some information 99.9% of other people do not have.
Mr. Walters is not my favorite person in all the world, but I have a great deal of respect for him. The fact of the matter is that Mr. Walters came from nowhere, basically. His ascent in the Las Vegas and gambling milieu was partly due to his ability to assess people and then control them, in a sense. For example, Mr. Walters did not do what mickey does or what kewlJ does or what I do. What he did was scout experts, partner with them, eventually assemble them, and (when possible) keep them separate from each other. So what he was doing was putting together roundtables of experts, pitting them against each other and comparing them, and having the logistical structure in place to act on their expertise. He was more of a combination GM and coach as opposed to a player.
Now I can't speak to his Wall Street dabblings, but the fact is that his gambling juggernaut had already faltered because his experts faltered. He did not turn to Wall Street because he had superbly conquered gambling. Rather, he turned to other pursuits due to easier scale and friction in the gambling milieu.
I assume that he tried to assemble the same kind of talent regarding Wall Street as he did in gambling, and the talent failed him.
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