Originally Posted by arcimede$ View Post
It's kind of interesting to listen to Alan. On one hand he castigates Singer for chasing losses and with the other hand he tends to promote playing to win single sessions and ignoring long term results. He's bi-polar.
Not bi-polar but perhaps more down to earth than you are. When I gamble I can't leave the casino and say "gee I lost $100 but in the long run I'll get back 99.5% of everything I put through the game." You see the "long run" is really fun to consider when you look at the pay table of a game because the pay table and the long run expectation gives you an indication of which is the better game to play or even if you should play. That's all those "long run" stats and math are good for -- to help you decide about playing.

But the only thing that counts in the here and now is did I win or did I lose? That's why you want to leave when you're ahead. You see, you can't pay bills with long term theoretical results, and you can't put "long term theoretical results" on a table as a bet.

Now, Singer chasing $35,000 losses? You bet I'm going to criticize him. Because anyone who preaches "discipline" and claims to have an annual profit of $100,000 on average can't possibly think that dropping $35,000 in one casino visit makes any kind of sense.