The Biggest Bluff Quotes

You’re not lucky because more good things are actually happening; you’re lucky because you’re alert to them when they do.

Less certainty, more inquiry”:

The more you learn, that harder it gets; the better you get, the worse you are.

The benefit of failure is an objectivity that success simply can’t offer.

Mastery is always a struggle for balance. How much time do you devote to the craft, and how much to yourself? And can you really do one without the other?

The more they overestimated their own skill relative to luck, the less they learned from what the environment was trying to tell them, and the worse their decisions became: the participants grew increasingly less likely to switch to winning stocks, instead doubling down on losers or gravitating entirely toward bonds.

Whatever I may think about God, I believe in randomness. In the noise of the universe that chugs along caring nothing about us, our plans, our desires, our motivations, our actions. The noise that will be there regardless of what we choose or don’t choose to do. Variance. Chance. That thing we can’t control no matter how we may try. But can you really blame us for trying?

Do we see ourselves as victims or victors? A victim: The cards went against me. Things are being done to me, things are happening around me, and I am neither to blame nor in control. A victor: I made the correct decision. Sure, the outcome didn’t go my way, but I thought correctly under

Edward Gibbon warned about as far back as 1794, that “the laws of probability, so true in general, [are] so fallacious in particular

We can’t control the variance. We can’t control what happens. But we can control our attention and how we choose to deploy it.

If you want to be a good player, you just acknowledge that you're not 'due' -- for good cards, good karma, good health, money, love, or whatever else it is.

I haven’t quite thought of it that way, but as always, the man has a point. How we frame something affects not just our thinking but our emotional state. It may seem a small deal, but the words we select—the ones we filter out and the ones we eventually choose to put forward—are a mirror to our thinking. Clarity of language is clarity of thought—and the expression of a certain sentiment, no matter how innocuous it seems, can change your learning, your thinking, your mindset, your mood, your whole outlook

Language is the mother, not the handmaiden of thought; words will tell you things you never thought or felt before.” The language we use becomes our mental habits—and our mental habits determine how we learn, how we grow, what we become.

You become a big winner when you lose,” Dan says. “Everyone plays well when they’re winning. But can you control yourself and play well when you’re losing? And not by being too conservative, but trying to still be objective as to what your chances are in the hand. If you can do that, then you’ve conquered the game.” And it resonates. After all, losing is what brought me to the table in the first place. It makes sense that learning to lose in a game—to lose constructively and productively—would help me lose in life, lose and come back, lose and not see it as a personal failure. It resonates—but it’s a tough ask. Dan nods. “It’s still tough to do. Even for me, and I have a lifetime of experience, that’s not an easy thing.

Poker isn’t just about calibrating the strength of your beliefs. It’s also about becoming comfortable with the fact that there’s no such thing as a sure thing—ever. You will never have all the information you want, and you will have to act all the same. Leave your certainty at the door.

You can’t control what will happen, so it makes no sense to try to guess at it. Chance is just chance: it is neither good nor bad nor personal. Without us to supply meaning, it’s simple noise. The most we can do is learn to control what we can—our thinking, our decision processes, our reactions.

Our experiences trump everything else, but mostly, those experiences are incredibly skewed: they teach us, but they don’t teach us well. It’s why disentangling chance from skill is so difficult in everyday decisions: it’s a statistical undertaking, and one we are not normally equipped to deal with.

It’s powerful advice. How often do we go off on someone for making a decision that we, personally, wouldn’t have made, calling them an idiot, fuming, getting angry? How much time and emotional energy we’d save if we simply learned to ask ourselves why they acted as they did, rather than judge, make presumptions, and react.

Focus on the process, not the luck. Did I play correctly? Everything else is just BS in our heads,” Erik tells me. “Thinking that way won’t get you anywhere. You know about the randomness of it but it doesn’t help to think about it. You want to make sure you’re not the person in the poker room saying, ‘Can you believe what happened?’ That’s the other people.

Language is the mother, not the handmaiden of thought; words will tell you things you never thought or felt before.

Never do anything, no matter how small it may seem, without asking why, precisely, you’re doing it.

How could you ever hope to separate the random from the intentional?

When people pose the question, are you “coxom”, Tom Conrad? I like to pose a question back at them: Is J.K. Rowling actually a witch? Is Thomas Harris the no. 1 serial killer in the the US, did Yann Martell really spend a lifetime eating pie? Of course, as far as I know J.K. Rowling is not a witch, but instead is a rather lovely and talented writer. As for that Thomas Harris (equally talented), I very much suspect he isn’t actually a serial killer at all, or if he is, he’s involved in the biggest case of double bluff… ever! As for Yann Martell, well, as everyone with half a brain knows his book is actually concerned with a mathematical constant, so ignore the dumb pie joke. Hm :/

Through that journey, I hoped to learn how to make the best decisions I possibly could, not just at the card table but in the world. Through poker, I wanted to tame luck—to learn to make a difference even when the deck seemed stacked against me.

If we consider games of chance immoral, then every pursuit of human industry is immoral; for there is not a single one that is not subject to chance, not one wherein you do not risk a loss for the chance of some gain.” THOMAS JEFFERSON, “THOUGHTS ON LOTTERIES,” 1826

Attention is a powerful mitigator to overconfidence: it forces you to constantly reevaluate your knowledge and your game plan, lest you become too tied to a certain course of action. And if you lose? Well, it allows you to admit when it’s actually your fault and not a bad beat.

In his Critique of Pure Reason, the German philosopher Immanuel Kant proposes betting as an antidote to one of the great ills of society: false confidence bred from an ignorance of the probabilistic nature of the world, from a desire to see black and white where we should rightly see gray.

Do we see ourselves as victims or victors? A victim: The cards went against me. Things are being done to me, things are happening around me, and I am neither to blame nor in control. A victor: I made the correct decision. Sure, the outcome didn’t go my way, but I thought correctly under pressure. And that’s the skill I can control.

People failed to see what the world was telling them when that message wasn’t one they wanted to hear. They liked being the rulers of their environment. When the environment knew more than they did—well, that was no good at all. Here was the cruel truth: we humans too often think ourselves in firm control when we are really playing by the rules of chance.

It’s called the description-experience gap. In study after study, people fail to internalize numeric rules, making decisions based on things like “gut feeling” and “intuition” and “what feels right” rather than based on the data they are shown. We need to train ourselves to see the world in a probabilistic light—and even then, we often ignore the numbers in favor of our own experience.

You don’t have to have studied the description-experience gap to understand, if you’re truly expert at something, that you need experience to balance out the descriptions. Otherwise, you’re left with the illusion of knowledge—knowledge without substance. You’re an armchair philosopher who thinks that just because she read an article about something she is a sudden expert. (David Dunning, a psychologist at the University of Michigan most famous for being one half of the Dunning-Kruger effect—the more incompetent you are, the less you’re aware of your incompetence—has found that people go quickly from being circumspect beginners, who are perfectly aware of their limitations, to “unconscious incompetents,” people who no longer realize how much they don’t know and instead fancy themselves quite proficient.)

The infamous Roaring Forties winds crash through on the western side of the island state. I looked down from our small plane and saw some of the waves that Steve loved. About two hundred miles off Tasmania’s western shore is Shipstern’s Bluff, with some of the biggest and best surf in the world. This is “big-wave” surfing, where the surfers have to be towed in, and it is not unusual to have sixty-foot faces on the waves. Probably only around 5 percent of the surfers in the world would dare to even approach Shipstern’s Bluff. As our plane made its approach, I saw sets of ragged, white-topped waves heading toward shore. I myself was not much of a water person, but I really enjoyed photographing or filming Steve in action. We’ll have to come back, I thought. Steve and Bindi could surf here together now.

Denying luck individually is to suggest that we have much greater agency than we really have over outcomes in our lives.” Games give us a chance to confront luck in a manner that allows us to process it in life in a way we’re not always forced to do.

And while probabilities do even out in the long term, in the short term, who the hell knows. Anything is possible.

Poker is all about comfort with uncertainty, after all. Only I didn’t quite realize it wasn’t just uncertainty about the outcome of the cards. It’s uncertainty about the “right” thing to do. The only certain thing is your thinking.

The only thing you can truly expect is your worst,” Jared tells me. “Everything else is earned every single day.

He will win who knows when to fight and when not to fight. He will win who knows how to handle both superior and inferior forces.

Be solid, fundamentally. Cultivate the solid image. And then add the hyper-aggression, but at the right place and the right time. Not always, not continuously, but thinkingly.

lose constructively and productively

absolute lack of ego. His willingness to be objective

It’s like that great Kipling quote: ‘If you can meet with Triumph and Disaster, and treat those two impostors just the same

Less certainty. More inquiry.

W. H. Auden: “Choice of attention—to pay attention to this and ignore that—is to the inner life what choice of action is to the outer. In both cases man is responsible for his choice and must accept the consequences.” Pay attention, or accept the consequences of your failure.

If a man look sharply, and attentively, he shall see Fortune: for though she be blind, yet she is not invisible.” FRANCIS BACON, “OF FORTUNE,” 1625

Lie to me by the moonlight. Do a fabulous story.” F. SCOTT FITZGERALD, “THE OFFSHORE PIRATE,” 1920

Casinos in general—and poker tables in particular—are germ incubators. They are probably worse even than a preschool, since there the surfaces at least get disinfected when the cleaning crew comes through. I’ve touched chips that seem to have been in use since the 1970s without so much as a rinse. Once, I had to tell a player not to touch me after he wanted to demonstrate that he’d washed his hands in the bathroom—by placing a wet hand on top of my arm.

Bad beats are a really bad mental habit. You don’t want to ever dwell on them. It doesn’t help you become a better player. It’s like dumping your garbage on someone else’s lawn. It just stinks.

Don’t worry about hoping. Just do.” That

stop hoping and start doing.

Presence is far more difficult than the path of least resistance.

pay attention.

learn to make a difference even when the deck seemed stacked against me.

Where observation is concerned, chance favors only the prepared mind.

There’s no skill in birth and death. At the beginning and at the end, luck reigns unchallenged. Here’s the truth: most of the world is noise, and we spend most of our lives trying to make sense of it. We are, in the end, nothing more than interpreters of static.

brings objectivity. It’s Disaster that’s the antidote to that greatest of delusions, overconfidence. And ultimately, both Triumph and Disaster are impostors. They are results that are subject to chance. One of them just happens to be a better teaching tool than the other.

I jot it down. Understand the dark side of variance first: that’s the only time you’ll actually learn to process your decision making well. Because when you’re winning, it’s just too easy not to stop and analyze your process. Why bother if things are going well? When it comes to learning, Triumph is the real foe; it’s Disaster that’s your teacher. It’s Disaster that

You become a big winner when you lose,” Dan says. “Everyone plays well when they’re winning. But can you control yourself and play well when you’re losing? And not by being too conservative, but trying to still be objective as to what your chances are in the hand. If you can do that, then you’ve conquered the game.

One of the most important lessons of poker strategy, intimately connected to self-assessment, is this: sometimes, it’s the hands you don’t play that win you the title. We remember the hero calls. What about the hero folds? What you don’t do rather than what you do—that can be greatness. The art of letting go can be the truly strong one.

There’s a Buddhist proverb. A farmer loses his prize horse. His neighbor comes over to commiserate about the misfortune, but the farmer just shrugs: who knows if it is a misfortune or not. The next day, the horse returns. With it are twelve more wild horses. The neighbor congratulates the farmer on this excellent news, but the farmer just shrugs. Soon, the farmer’s son falls off one of the feral horses as he’s training it. He breaks a leg. The neighbor expresses his condolences. The farmer just shrugs. Who knows. The country declares war and the army comes to the village, to conscript all able-bodied young men. The farmer’s son is passed over because of his leg. How wonderful, the neighbor says. And again the farmer shrugs. Perhaps. You can’t control what will happen, so it makes no sense to try to guess at it. Chance is just chance: it is neither good nor bad nor personal. Without us to supply meaning, it’s simple noise. The most we can do is learn to control what we can—our thinking, our decision processes, our reactions.

It’s like that great Kipling quote: ‘If you can meet with Triumph and Disaster, and treat those two impostors just the same . . . ’” I nod. I know the one. “I love that. This is such a fundamental part of poker. The wins really go to people’s heads. And the losses—they can’t deal. It’s so easy to be delusional in this game,” he tells me.

The great players don’t play that way. It’s too draining, and it makes you too much the victim. And the victim doesn’t win. Bad table draw? It’s a challenging table that will force you to play well. You can’t change tables, so you may as well call on all your inner powers to play the best version of your game. See it as an opportunity to learn. Card dead? No one knows that. If your face reads card dead, everyone will walk all over you as you meekly fold. If you decide to take the opportunity to cultivate a conservative image and then make a well-timed move, suddenly you have the upper hand. The best players don’t need pocket aces to win. Everything is in how you perceive it.

Mike Tyson said it best. ‘Everyone has a plan until you get punched in the mouth.’ And he’s right. Until you go through a month of everything going wrong, you won’t know whether you have what it takes. You will never learn how to play good poker if you get lucky—it’s as simple as that. You just won’t.

Things in our control are opinion, pursuit, desire, aversion, and, in a word, whatever are our own actions. Things not in our control are body, property, reputation, command, and, in one word, whatever are not our own actions.

That’s the thing about life: You can do what you do but in the end, some things remain stubbornly outside your control.

Fuck participation trophies, we go for the win.

When it comes to learning, Triumph is the real foe; it’s Disaster that’s your teacher. It’s Disaster that brings objectivity. It’s Disaster that’s the antidote to that greatest of delusions, overconfidence. And ultimately, both Triumph and Disaster are impostors. They are results that are subject to chance. One of them just happens to be a better teaching tool than the other.

What I found was something completely unexpected. Over and over, people would overestimate the degree of control they had over events—smart people, people who excelled at many things, people who should have known better. Not only would they decide ahead of time how they were going to divide their investments, but they would decide based on incredibly limited information which stock was “good” and stick to their guns—even as they started losing money.

For poker, unlike quite any other game, mirrors life. It isn’t the roulette wheel of pure chance, nor is it the chess of mathematical elegance and perfect information.

you can’t bluff chance.

There is a saying in poker, that if you are never caught in a bluff, you are not bluffing enough.

As Solomon Asch, one of the great psychologists of the twentieth century, once wrote, “We look at a person and immediately a certain impression of his character forms itself in us. A glance, a few spoken words are sufficient to tell us a story about a highly complex matter. We know that such impressions form with remarkable rapidity and with great ease. Subsequent observations may enrich or upset our view, but we can no more prevent its rapid growth than we can avoid perceiving a given visual object or hearing a melody.

People failed to see what the world was telling them when that message wasn’t one they wanted to hear.

we humans too often think ourselves in firm control when we are really playing by the rules of chance.

But here’s what psychologists find, over and over: you can show people all the charts you want, but that won’t change their perceptions of the risks or their resulting decisions.

This book isn’t about how to play poker. It’s about how to play the world.

. But on some level, part of me must remember: you can’t play scared. You can’t be afraid of how you look. You can’t be afraid someone will walk away because of what you do or don’t do.

if you don’t have an objective evaluation of what’s going on, you’re a loser,

Clarity of language is clarity of thought—and the expression of a certain sentiment, no matter how innocuous it seems, can change your learning, your thinking, your mindset, your mood, your whole outlook.

It’s called the description-experience gap. In study after study, people fail to internalize numeric rules, making decisions based on things like “gut feeling” and “intuition” and “what feels right” rather than based on the data they are shown.

On the one hand, I recognize the power of the placebo effect: if you believe it’s working, it may well work. If you think an object brings you luck, you are more confident. And yet what the Italian students in the “lucky” seats showed wasn’t confidence; it was overconfidence. They thought they were doing better, but the evidence didn’t actually back them up. And then there’s the flip side of the placebo, the nocebo effect: the belief in evil signs or bad luck. It turns out people can literally scare themselves to death. If you think you’ve been cursed or otherwise made ill, you may end up actually getting sick, failing to improve poor health, or, yes, dying altogether. In one medically documented instance, a man was given three months to live after a diagnosis of metastatic cancer of the esophagus. He died shortly after. When his body was autopsied, doctors realized that he had been misdiagnosed: he did indeed have cancer, but a tiny, non-metastatic tumor on his liver. Clinically speaking, it could not have killed him. But, it seems, being told he was dying of a fatal illness brought about that very outcome. In another case, a man thought he was hexed by a voodoo priest. He came close to death, only to recover miraculously after an enterprising doctor “reversed” the curse through a series of made-up words. In yet a third, a man almost died in the emergency room after overdosing on pills. He’d been in a drug trial for depression and decided to end his life with the antidepressants he’d been prescribed. His vitals were so bad when he was admitted that doctors didn’t think he would make it—until they discovered his blood was completely clear of any drugs. He’d been taking a placebo. Once he found out he had not in fact taken a life-threatening quantity of pills, he recovered quickly. The effect our mind has on our body makes for a scary proposition. Belief is a powerful thing. Our mental state is crucial to our performance. And ultimately, while some superstitions may give you a veneer of false confidence, they also have the power to destroy your mental equilibrium. I like to think of this as the black cat effect. You see one cross the parking lot as you walk to a tournament. You brood about the bad luck. Your game is thrown off. You blame the cat. You bust. You feel validated. Superstitions are false attributions, so they give you a false sense of your own abilities and in the end, impede learning.

Most people are never going to die because they are never going to be born,” Richard Dawkins writes, in Unweaving the Rainbow. “The potential people who could have been here in my place but who will in fact never see the light of day outnumber the sand grains of Arabia. Certainly those unborn ghosts include greater poets than Keats, scientists greater than Newton.” It’s mind-boggling to even consider. “In the teeth of these stupefying odds it is you and I, in our ordinariness, that are here.

In an age of constant distraction and never-ending connectivity, we may be so busy that we miss the signals that tell us to swerve before we’re in the bad beat’s path. One

All your technical prowess will evaporate if your mind and emotional landscape aren’t solid. My return from Monte Carlo has made one thing clear: I need to recharge.

Philosophically, it’s a powerful way of viewing life. (“Poker is exactly like life, but with instant karma,” Chewy remarks.)

In an age of constant distraction and never-ending connectivity, we may be so busy that we miss the signals that tell us to swerve before we’re in the bad beat’s path. One of the most often-cited quotes about luck comes from Louis Pasteur: chance favors the prepared mind. What people often forget, though, is that the full statement is quite different: “Where observation is concerned, chance favors only the prepared mind.” We tend to focus on that last part, the prepared mind. Work hard, prepare yourself, so that when chance appears, you will notice it. But that first part is equally crucial: if you’re not observing well, observing closely to begin with, no amount of preparation is enough. The one is largely useless without the other.

In every other game in a casino—and in games of perfect information like chess and Go—you simply must have the best of it to win. No other way is possible. And that, in a nutshell, is why poker is a skilled endeavor rather than a gambling one.

Never feel like you have to do something just because it’s expected of you—even if you’re the one who expects it of you.

And then there’s the flip side of the placebo, the nocebo effect: the belief in evil signs or bad luck. It turns out people can literally scare themselves to death. If you think you’ve been cursed or otherwise made ill, you may end up actually getting sick, failing to improve poor health, or, yes, dying altogether. In one medically documented instance, a man was given three months to live after a diagnosis of metastatic cancer of the esophagus. He died shortly after. When his body was autopsied, doctors realized that he had been misdiagnosed: he did indeed have cancer, but a tiny, non-metastatic tumor on his liver. Clinically speaking, it could not have killed him. But, it seems, being told he was dying of a fatal illness brought about that very outcome. In another case, a man thought he was hexed by a voodoo priest. He came close to death, only to recover miraculously after an enterprising doctor “reversed” the curse through a series of made‑up words. In yet a third, a man almost died in the emergency room after overdosing on pills. He’d been in a drug trial for depression and decided to end his life with the antidepressants he’d been prescribed. His vitals were so bad when he was admitted that doctors didn’t think he would make it—until they discovered his blood was completely clear of any drugs. He’d been taking a placebo. Once he found out he had not in fact taken a life-threatening quantity of pills, he recovered quickly. The effect our mind has on our body makes for a scary proposition.

If we want to be successful, “we need to train our powers of observation, to cultivate that attitude of mind of being constantly on the look-out for the unexpected and make a habit of examining every clue that chance presents.

In an age of constant distraction and never-ending connectivity, we may be so busy that we miss the signals that tell us to swerve before we’re in the bad beat’s path.

When it comes to learning, Triumph is the real foe; it's Disaster that's your teacher. It's Disaster that brings objectivity. It's Disaster that's the antidote to the greatest of delusions, overconfidence.

thepsychchic chips clips i How often are we actually in control, I wondered? And how does the perception of being in control in situations where luck is queen actually play out in our decision making? How do people respond when placed in uncertain situations, with incomplete information? 13 Personal accountability, without the possibility of deflecting onto someone else, is key. 41 There’s never a default to anything. It’s always a matter of deliberation. 56 Erik: You have to have a clear thought process for every single hand. What do I know? What have I seen? How will that help me make an informed judgment about this hand? 74 … find the fold … 86 Erik: There’s nothing like getting in there and making a bunch of mistakes. 88 Erik: Pick your spots. 91 Erik: Have you ever heard the expression ‘snap fold’? A snap fold, you do it immediately. You’re thrilled to let it go. So. snap fold. This lets you shove with basically the same enthusiasm. It tells you which hands to go with when you have different amounts of big blinds. 98 There’s a false sense of security in passivity. You think that you can’t get into too much trouble—but really, every passive decision leads to a slow but steady loss of chips. And chances are, if I’m choosing those lines at the table, there are deeper issues at play. Who knows how many proverbial chips a default passivity has cost me throughout my life. How many times have I walked away from situations because of someone else's show of strength, when I really shouldn't have. How many times I've passively stayed in a situation, eventually letting it get the better of me, instead of actively taking control and turning things around. Hanging back only seems like an easy solution. In truth, it can be the seed of far bigger problems. 100-101 Gambler's fallacy -- the faulty idea that probability has a memory. 107 Frank Lantz, NYU Game Center, former poker player: Part of what I get out of a game is being confronted with reality in a way that is not accommodating to my incorrect preconceptions. 109 Only play within your bankroll. 126 Re: Ladies Event: Yes, I completely understand the intention, but somehow, segregating women into a separate player pool, as if admitting that they can’t compete in an open player pool, feels equal parts degrading and demoralizing. … if I’m known as anything in this game, I want to be known as a good poker player, not a good female player. No modifiers need apply. 127 Erik: Bad beats are a really bad mental habit. You don’t want to ever dwell on them. It doesn’t help you become a better player. It’s like dumping your garbage on someone else’s lawn. It just stinks.” 132-33 No bad beats. Forget they ever happened. 136 As W H Auden told an interviewer, Webster Schott, in a 1970 conversation: "Language is the mother, not the handmaiden of thought; words will tell you things you never thought or felt before.” The language we use becomes our mental habits—and our mental habits determine how we learn, how we grow, what we become. It’s not just a question of semantics: telling bad beats stories matters. Our thinking about luck has real consequences in terms of our emotional well-being, our decisions and the way we implicitly view the world and our role in it. 133

thepsychchic chips clips ii If you think of yourself instead as an almost-victor who thought correctly and did everything possible but was foiled by crap variance? No matter: you will have other opportunities, and if you keep thinking correctly, eventually it will even out. These are the seeds of resilience, of being able to overcome the bad beats that you can’t avoid and mentally position yourself to be prepared for the next time. People share things with you: if you’ve lost your job, your social network thinks of you when new jobs come up; if you’re recently divorced or separated or bereaved, and someone single who may be a good match pops up, you’re top of mind. This attitude is what I think of as a luck amplifier. … you will feel a whole lot happier … and your ready mindset will prepare you for the change in variance that will come … 134-135 W. H. Auden: “Choice of attention—to pay attention to this and ignore that—is to the inner life what choice of action is to the outer. In both cases man is responsible for his choice and must accept the consequences.” Pay attention, or accept the consequences of your failure. 142 Attention is a powerful mitigator to overconfidence: it forces you to constantly reevaluate your knowledge and your game plan, lest you become too tied to a certain course of action. And if you lose? Well, it allows you to admit when it’s actually your fault and not a bad beat. 147 Following up on Phil Galfond’s suggestion to be both a detective and a storyteller and figure out “what your opponent’s actions mean, and sometimes what they don’t mean.” [Like the dog that didn’t bark in the Sherlock Holmes “Silver Blaze” story.] 159 You don’t have to have studied the description-experience gap to understand, if you’re truly expert at something, that you need experience to balance out the descriptions. Otherwise, you’re left with the illusion of knowledge—knowledge without substance. You’re an armchair philosopher who thinks that just because she read an article about something she is a sudden expert. (David Dunning, a psychologist at the University of Michigan most famous for being one half of the Dunning-Kruger effect—the more incompetent you are, the less you’re aware of your incompetence—has found that people go quickly from being circumspect beginners, who are perfectly aware of their limitations, to “unconscious incompetents,” people who no longer realize how much they don’t know and instead fancy themselves quite proficient.) 161-162 Erik: Generally, the people who cash the most are actually losing players (Nassim Taleb’s Black Swan strategy, jp). You can’t be a winning player by min cashing. 190 The more you learn, the harder it gets; the better you get, the worse you are—because the flaws that you wouldn’t even think of looking at before are now visible and need to be addressed. 191 An edge, even a tiny one, is an edge worth pursuing if you have the time and energy. 208 Blake Eastman: “Before each action, stop, think about what you want to do, and execute.” … Streamlined decisions, no immediate actions, or reactions. A standard process. 217 John Boyd’s OODA: Observe, Orient, Decide, and Act. The way to outmaneuver your opponent is to get inside their OODA loop. 224 Here’s a free life lesson: seek out situations where you’re a favorite; avoid those where you’re an underdog. 237 [on folding] No matter how good your starting hand, you have to be willing to read the signs and let it go. One thing Erik has stressed, over and over, is to never feel committed to playing an event, ever. “See how you feel in the morning.” Tilt makes you revert to your worst self. 257 Jared Tindler, psychologist, “It all comes down to confidence, self-esteem, identity, what some people call ego.” 251 JT: “As far as hope in poker, f#¢k it. … You need to think in terms of preparation. Don’t worry about hoping. Just Do.” 252

thepsychchic chips clips iii Jared gives me an assignment: I need to map out my emotional process so that I can start finding ways to solve each problem. I need to actually sit down and make a spreadsheet. Each time something happens, write it down in the situation trigger column. In the next column write a description of the thoughts, emotional reactions, and behaviors that the situation or trigger causes. In the next column give your best assessment of the underlying flaw or problem, and finally, write a logic statement that I can use in the moment to inject some rationality into the issue. 258 Jared’s 20 minute break routine for Maria: First 5 minutes of break: off load and brain dump. I write down some of the key hands so that they don’t occupy any of my headspace going forward. … Then a few minutes of contemplating my decision making. Asking myself: How was my thinking? Were there any emotionally compromised decisions? … Next 10 minutes: nothing. No poker talk, no thinking. Just walking and relaxing. And then, right before the end of break, a few minutes of warm-up for the next level. 276 - 277 EB White: “an honest ratio between pluck and luck.” 287 Food in Los Vegas: For sushi, Yui and Kabuto. For dinner close to the Rio, the Fat Greek, Peru Chicken, and Sazón. For when I’m feeling nostalgic for the jerk chicken of my local Crown Heights spots, Big Jerk. Lola’s for Cajun. Milos, but only for lunch. El Dorado for late-night poker sessions. Partage to celebrate. Lotus of Siam to drown your sorrows in delightful Thai. 314

Funny how the biggest bluffs are the ones you pull on yourself.

Gambler's fallacy -- the faulty idea that probability has a memory

Who knows how many proverbial chips a default passivity has cost me throughout my life. How many times I've walked away from situations because of someone else's show of strength, when I really shouldn't have. How any times I've passively stayed in a situation, eventually letting it get the better of me, instead of actively taking control and turning things around. Hanging back only seems like an easy solution. In truth, it can be the seed of far bigger problems.

Do I do that often? I find myself asking. Do I go for the min cash in my life decisions, holding on for the safer sure thing than taking more risk for the more uncertain but ultimately more attractive option? Do I lack gamble in my life? Do I let myself be taken advantage of by people who recognize the fright behind my eyes? I'm not sure I'm prepared to know the answer.

There’s a Buddhist proverb. A farmer loses his prize horse. His neighbor comes over to commiserate about the misfortune, but the farmer just shrugs: who knows if it is a misfortune

or not. The next day, the horse returns. With it are twelve more wild horses. The neighbor congratulates the farmer on this excellent news, but the farmer just shrugs. Soon, the farmer’s son falls off one of the feral horses as he’s training it. He breaks a leg. The neighbor expresses his condolences. The farmer just shrugs. Who knows. The country declares war and the army comes to the village, to conscript all able-bodied young men. The farmer’s son is passed over because of his leg. How wonderful, the neighbor says. And again the farmer shrugs. Perhaps.