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Thread: ADVICE NEEDED

  1. #31
    Wrong Forum Mod kickserv's Avatar
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    Quote Originally Posted by Jord20 View Post
    Literally every big bank and trading firm makes their money by hedging. Most companies too
    Another example that you have given that has zero to do with the situation blaster is describing. Nobody said the practice of hedging is illegitimate, just that in cases of a sports gambler placing a wager it is not always optimal practice to engage in.
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    CANADA IS HOCKEY!
    HOCKEY IS CANADA!

    and of course.............GO LEAFS GO!!!

    No whammies, No whammies, No whammies......STOP!!!

  2. #32
    Wrong Forum Mod kickserv's Avatar
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    Quote Originally Posted by Jord20 View Post
    Literally every big bank and trading firm makes their money by hedging.
    Well true, but that didn't work out so well for Morgan Stanley, Lehman Brothers, Bear Stearns, Citigroup, Bank of America, JPMorgan Chase, and others back in 2007 now did it.

    Point being......"hedging" is not always the way to go, nor does it always guarantee you that you made the "right decision". It is called gambling for a reason.
    .
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    CANADA IS HOCKEY!
    HOCKEY IS CANADA!

    and of course.............GO LEAFS GO!!!

    No whammies, No whammies, No whammies......STOP!!!

  3. #33
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    Quote Originally Posted by kickserv View Post
    Another example that you have given that has zero to do with the situation blaster is describing. Nobody said the practice of hedging is illegitimate, just that in cases of a sports gambler placing a wager it is not always optimal practice to engage in.
    Of course it’s not always optimal. You said never, never, never, ever. Or something like that.

    Terrible advice.

    I never said it’s always optimal. It’s always optimal to consider it though - and in many cases, it makes sense. Betting, trading, banking, lending, business, etc, etc, etc. getting stuck in what once was is a bad mentality and practice and will cost you lots of expected value in the long run


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  4. #34
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    Quote Originally Posted by kickserv View Post
    Well true, but that didn't work out so well for Morgan Stanley, Lehman Brothers, Bear Stearns, Citigroup, Bank of America, JPMorgan Chase, and others back in 2007 now did it.

    Point being......"hedging" is not always the way to go, nor does it always guarantee you that you made the "right decision". It is called gambling for a reason.
    That wasn’t even a fraction of the problem with the financial crisis.


    Sent from my iPhone using Tapatalk
    “IF ONE DOES NOT MOVE, THEY DO NOT NOTICE THE CHAINS”

    Government is the great fiction, through which everybody endeavors to live at the expense of everybody else. – Frederic Bastiat

    There's no way to rule innocent men. The only power any government has is the power to crack down on criminals. Well, when there aren't enough criminals, one makes them. One declares so many things to be a crime that it becomes impossible to live without breaking laws. – Ayn Rand

  5. #35
    Wrong Forum Mod kickserv's Avatar
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    Quote Originally Posted by Jord20 View Post
    That wasn’t even a fraction of the problem with the financial crisis.
    True......but it sure as fuck played a role in it.
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    CANADA IS HOCKEY!
    HOCKEY IS CANADA!

    and of course.............GO LEAFS GO!!!

    No whammies, No whammies, No whammies......STOP!!!

  6. #36
    I WOULD REALLY LIKE TO THANK EVERYONE WHO TOOK THE TIME TO GIVE THEIR ADVICE. THIS IS THE REASON WHY MJ'S IS WITHOUT DOUBT THE BEST FORUM ON THE NET, AND THE ONLY PLACE I POST. BUNCH OF QUALITY GENTLEMEN HERE WHO'S KNOWLEDGE IS SECOND TO NONE.
    WITH THAT BEING SAID, I KNOW THAT THE $50 I PLACED IS LOST MONEY AND NEVER THOUGHT ABOUT THAT MONEY AFTER PLACING THE BET. I ALSO KNOW THAT THERE IS NO OPTION TO HEDGE UNTIL AND IF CINNCY GETS IN. IT WILL BE A TALL TASK FOR THEM TO WIN STRAIGHT UP AGAINST ANYONE THEY PLAY. FOR NOW, IT WILL BE JUST A WAIT AND SEE TILL THE END OF THE REGULAR SEASON. IF THEY DO GET IN I MORE THAN LIKELY WILL LOOK TO HEDGE. JUST HOPE THE POINTS NOT MOOT TILL THEN.

    THANKS TO ALL AND GOOD LUCK, BLASTER

  7. #37
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    blaster.... hedge.

    you've got a (slight) chance for 7500... that's what to think about

    bet on Cinn opponent each game (ml)... to win at least 100.. and then progress to higher amt.


    and if you lose each of those hedge bets, that means they're nat'l champs and you get the $7500

    which will more than make up for the losses of the "hedge bets"


    whatever ya do!

    BoL~LoB

  8. #38
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    That wasn’t even a fraction of the problem with the financial crisis.

    You are correct Jord. Main contributing factor was the ratings on the bonds of subprime mortgagee. Which also can be traced back to the CRA which is the community reinvestment act. The 2/28 and 3/27 loans were rated higher that what their actual rating should have been. And everyone bought in!

    Best of luck Blaster! I’ll be pulling for cinncy!!

  9. #39
    Wrong Forum Mod kickserv's Avatar
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    Quote Originally Posted by blaster View Post
    PRIOR TO THE START OF THE SEASON I PLACED A $50 FUTURE ON CINNCY TO WIN THE NATIONAL CHAMPIONSHIP AT 150-1.

    You are two wins away from cashing a 150-1 odds ticket, not a bad position to be in, well done by you
    .
    .

    CANADA IS HOCKEY!
    HOCKEY IS CANADA!

    and of course.............GO LEAFS GO!!!

    No whammies, No whammies, No whammies......STOP!!!

  10. #40
    THANKS KICK. I KNOW YOU DO NOT LIKE THE IDEA OF A HEDGE, BUT I BELIEVE THIS IS THE DIRECTION I WILL TAKE. JUST NOT SURE HOW TO APPROACH THIS. I WOULD WANT TO COME OUT OF THIS WITH AT LEAST A FEW K AHEAD WHEN ALL SAID AND DONE.
    ANY ADVISE FROM THE MJ COMMUNITY IS MUCH APPRECIATED.

    GL, BLASTER

  11. #41
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    Quote Originally Posted by blaster View Post
    THANKS KICK. I KNOW YOU DO NOT LIKE THE IDEA OF A HEDGE, BUT I BELIEVE THIS IS THE DIRECTION I WILL TAKE. JUST NOT SURE HOW TO APPROACH THIS. I WOULD WANT TO COME OUT OF THIS WITH AT LEAST A FEW K AHEAD WHEN ALL SAID AND DONE.
    ANY ADVISE FROM THE MJ COMMUNITY IS MUCH APPRECIATED.

    GL, BLASTER

    blast,

    don't think you can automatically come out a few grand ahead - ML on Bama is -658, UGA would also be a huge fave over Cincy

    think you have to wait one more game to be able to hedge for any kind of real money - Georgia might be -500, putting 1000 on that would cost you 5k alone but at least at that point you're talking about some cash either way

  12. #42
    the is a -560 on Bama available right now ..
    We move forward with you or without you!

  13. #43
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    Quote Originally Posted by Old School View Post
    the is a -560 on Bama available right now ..

    at -560 you could put 500 bama ml - tide wins you clear 450 ‘cats win you have 4700 left on cinn win ticket

    then say next week fave is -400 - you could put 2800 to win 700 on fave - cinn wins you’re up 1900 but they lose you’re down 2100 on side

    just not much you can do imo given the situation

    think you need to put on the bearcats jersey and grab the black pom poms, and cheer for mich in other semi for best hedge opp in final

    either way gl to you blaster


    burns

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