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Phil Lane had mentioned:-
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>>a true gambler would never backtest ?
>-------------------------
>. . . who IS a 'true' gambler ? . . . guess that a 'professional' would
>qualify.
>
>BUT, I believe a professional gambler would always backtest ideas.
>
>A professional gambler must know the 'odds' , to survive ?
btw, locally, I have talked to a Greek who retired early after spending most
of his working life in an IBM Research Lab in California, as a Math Ph.D.
This personage, divides his time between trading volatility of Index
Options,
and playing Backgammon.
He explains that although one might be misled by the throwing of Dice, into
thinking that Backgammon is a game of Chance, that is not the case.
This personage, regularly, year in, year out, earns a high USD 5 figure
'salary' from playing Backgammon.
BUT, as he says, after a Backgammon session, he feels his head is running
five Pentiums, hot.
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