The well-known 2+2’er and high-stakes no-limit player FoxwoodsFiend announced yesterday that he is quitting poker:
The truth is I want to do something important with my life, and I don’t think poker’s that important or meaningful. Given that I eventually need to quit, now’s as good a time as any. And that’s why I’m quitting poker.
A lot of his very long post on the subject (though not the bits about degenerate gambling or the six-figure scores) is quite reminiscent of my own thinking and background. We’re both young, but not quite as young as many internet pros, and educated by elite universities (he’s a Yale alum). I’m familiar with his sense that dedicating his life and skills to poker would be a waste. And I’m quite sympathetic his desire to do something “meaningful”.
Except that in his case, that’s… trading for a hedge fund? I was really surprised by that, since I was otherwise digging his post. But a trader is basically a larger-scale poker player. Just because you wear a suit and have something people recognize as a “job” doesn’t make you’re work meaningful. Of course I know nothing about FF’s interest in or qualifications for trading, and I don’t doubt that he’ll be good at it. I was just surprised to see that as the culmination of his very thought-provoking essay.
Good point. I believe that hedge fund traders, while smart and resourceful at making money (sometimes), have the ability to become degenerate while the family and friends are hindered from interceding because it’s “a job.” I don’t know if you have ever linked to the 2p2 post about Poker and Trading, but the 3 pages or so were very enlightening in regards to the similarities between and abilities that play well in both fields.
Gaucho21 of CardRunners has made the same conversion. He was very successful online and live, and recently finished law school, but has decided to go with a career in finance. He posted about the similarities in his blog: http://www.cardrunners.com/members/index.php?option=com_mamblog&Itemid=29&task=show&action=view&id=11786Itemid=29
(hopefully the link works)
Well said, Foucault. It all depends on what one considers “meaningful”. Society/parents/potential spouses, etc. consider high paying jobs performed in a tie very meaningful.
Many may be rewarding but I am not sure about meaningful.