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Lionel, and the entire list.
It was never my intention to send this email to the list.
Thank you Lionel for what was obviously a good intention...
to warn me about trying to beat blackjack in Vegas.
It was my intention to mail this to Mike who has a web page
on gambling, or more to the point what not to do.
I have been discussing money management with him as it is
my belief that some of the techniques used by professional
gamblers might apply to trading. Of course as all of you
know some work has been done in that area by Tom Basso.
Linda Raschke and others also have solid ideas about
money management. Since the edge at blackjack is so small
even to be nonexistent, I was wondering if money management
alone would allow any kind of an edge. It is my humble opinion
that the answer is no.
I am sorry that you all had to read this.
Please accept my apology.
Bill
-----Original Message-----
From: owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]On
Behalf Of Lionel and Gail Issen
Sent: Sunday, November 01, 1998 1:16 PM
To: metastock@xxxxxxxxxxxxx
Subject: Re: Off Topic
Bill:
2 or 3 decades ago a mathematician, named Thorp, wrote a book "Beat The
Dealer". At that time Las Vegas was using a single deck. To defend
themselves, the Las Vegas establishment hired Thorp to come out with a
counter strategy. This was multiple decks and arbitrary reshuffling. With
these rules your chances of winning are about the same as at Keno, and less
than winning a state lottery.
Stick to what you know or something close to it.
Lionel Issen
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