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Description of Red Joker Rules

"Gambling is investing, and investing is gambling," says the Red Joker.

Both situations begin with a common pool of money. The pool is distributed among those who have created it on the basis of a series of events that are partly controllable. Through a mixture of skills, self-control and sheer luck, some of those who have created it will receive more than others.

There is no inherent difference between sifting through a horse's prospects of winning a race and a company's prospects of returning regular profits. There is no inherent difference in deciding whether to raise the betting on a particular hand of cards and deciding whether a property is a good or bad buy.

But there is a world of difference between the pace of gambling and the pace of investing. A gambler faces as many investment situations in a week as an investor does in a lifetime. The rules are the same, but the gambler is in a situation where he can learn the rules very quickly.

This is a book of advice from the gambler to the investor - The Red Joker Rules.

Title Information

ISBN:

9780857190178

Pages:

152 pages

Format:

eBook

Product Code:

468587

Publisher:

Harriman House

Published:

23/02/2010

Edition:

1st Edition

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About Pat Holland

Pat Holland, B.Sc. has been a maths teacher and a recreational gambler for most of his life. Today he works as a freelance writer and takes an interest in the world of investment.

He has long been interested in the common links between the principles of gambling and those of investment, and has been gathering the material for this book for many years.

Pat Holland is married with three grown-up children, and is the author of three previous books and several thousand articles.

Contents of Red Joker Rules

Biography
Introduction
- Prologue
- Gambling is Investing
- Investing is Gambling

Part 1: Parlays

Concept: The Geometric Progression
Rule 1: Start Early
Rule 2: Never Offer an Unlimited Parlay
Rule 3: Keep a Reserve Tank
Rule 4: Never Chase Your Losses
Rule 5: Stay in Your League
Rule 6: Gamble Your Early Winnings
Rule 7: Don't Get Addicted
Rule 8: Bid Boldly, Play Safe
Case Study: The Club Bridge Gambler
Case Study: The Bingo Gambler
Case Study: The Roulette Gambler
Case Study: The Texas Hold 'Em Gambler

Part 2: Pitfalls

Pitfalls and the Power of Zero
Rule 9: Never Bet Too Big...
Rule 10: …And Never Bet Too Small
Rule 11: Turn Down Proposition Bets
Rule 12: Visit the Parade Ring
Rule 13: Don't Get in Hock to the Bookies
Rule 14: Keep Emotion Out of it
Rule 15: Never Listen to Tips
Rule 16: Watch the Dealer
Rule 17: Don't Bluff to Bluff
Rule 18: Do Not Cheat
Rule 19: Engage Mathematics as Your Servant, Not Your Master
Case Study: The Craps Gambler
Case Study: The One-Armed Bandit Gambler

Part 3: The Plateau

Concept: Making the Theory of Large Numbers Work For you
Rule 20: Sessions Are Not Seasons
Rule 21: Seasons Are Not Sessions
Rule 22: Don't Think of Gains or Losses as Spending Money Until the Game is Over
Rule 23: Manage Your Money
Rule 24: Set Targets
Rule 25: Reduce Risks with Time
Rule 26: Look for a Middle
Case Study: The Blackjack Gambler

Part 4: Percentages

Concept: Percentages, Odds, Ratios and Probabilities
Rule 27: Study the Form
Rule 28: Turn Down Most Bets
Rule 29: Small Percentages Are Big Percentages
Rule 30: Study Your Opponents
Rule 31: Beware of Long Odds
Rule 32: Never Follow a Springer to Starting Price
Rule 33: Never Bet Ante-Post
Rule 34: Get to Know the Trainer
Case Study: The Professional Racing Gambler
Rule 35: The Ultimate Rule

Epilogue