A Good Run

In the end, the best you can do is have "a good run." We hear it all the time. Most recently in regards to Tom Watson. The guy is 60 years old and is still competitive on the PGA Tour. Witness the British Open last year and again in the US Open this year where he was tied for 16th after 3 days. He has had success at the sport for 45 years. Now that's a good run.

Another example is my father, Dr. Welton M. Gersony. The man has excelled at his calling, Pediatric Cardiology for 50 years. He still loves his occupation dearly and more than anything, at 78, wants to continued to be consider a leader in the field.

And in poker, no one has had a better run than Doyle Brunson. He has been playing poker for 65 years. Still loves it. Is still great at it. A lucky man.

Ruminating on the concept of "a good run," it seems that, especially when we are young, we think we can get more out of life than is possible. In the end, the very best we can hope for is "a good run." A period of time on earth where there is a beginning, a middle and an end in which things generally go quite well. Nothing goes perfect all the time during our run. Watson and my father both went through difficult divorces. Doyle survived the death of a daughter. They dealt with their difficulties and though I can't get into their heads, they, as well as many others, focused on the positive and got the most out of their passions.

Sure, we can all fantasize about having it all, money, great relationships, skill, recognition and fame. But rarely do we see these things for what they really are. They are fleeting. If they give us pleasure, satisfaction and happiness for some period of time, than we are blessed. Things that are not worthwhile need to be shed. For it is not only the thing, it is the thing in relation to time. If there is something you are dreaming of doing or acquiring, you need to do it when the window in time opens for such a thing to be done. If you don't, the window may be closed forever.

Poker, again, has proved to be an excellent microcosm of "a good run" concept. We even use the exact same phrase to describe it. We also call it "running hot" and "being on a heater." Every poker player can remember a good run. Sometimes it lasts for a few days, maybe a few weeks and occasionally for months on end. But one thing is always certain. It ends. But in poker we have multiple lifetimes. We may have many good runs (and bad ones - to be discussed some other time). Maybe that's why successful players rarely quit playing the game. There is a sense of immortality about the game even though we know, like everything else, it ends. Every session starts with a birth. Every hand is a new beginning.

Although most people think it is depressing to think of our lives as a finite time parcel, I think it allows us to live happier. We are aware of the transient nature of our existence so we try harder to squeeze every drop of satisfaction we can out of it. We don't let small things get us down, we learn to let a bad experience disappear into the past. We look at every minute as a gift and we learn that to achieve greater happiness, we must give happiness to others. For satisfaction does not only come from material acquisitions and a pampered life style. For some (myself included) these goals are only a small part of what gives inner peace. Achievement, help and honest actions are much higher on the list. In the end, it is not about us as individuals as much as it is about us as a whole.

Now go out their today, focus on your passions and enjoy your run.

The Art of the Bluff

Poker Skills are the same as business skills. Yeah. Yeah. Heard it a million times. Lets get to the specifics. Show me, don't tell me - the mantra of every good writer.

There is no better example than in the art of the bluff. Does he or doesn't he? Will she or won't she? Does he have it?

Many people see the bluff in isolation or out of context and think, "wow, that's neat. Bet a lot and your opponent folds." But in actuality, the professional bluff does not happen all of a sudden. It is a carefully built strategy that results in bluffs taking strategic pots. no one can win at poker by bluffing willy nilly. Its an extremely high risk move that costs you much more when you lose than it gains you when you win.

Now lets think about it in terms of business. A failed bluff can be very costly. "I'll quit if I don't get that raise." "That's my last and final offer." A professional at business uses this tool in very specific situations. First, he must size up his opponent. Is she a risk taker? Does he exaggerate? Does she lie?

Secondly, he needs to understand the importance of the deal to himself or his company. A systematic Cost/Benefit Analysis is needed. If its critical, tread carefully. If there are other options, can be more aggressive.

Thirdly, is the bluff bordering on unethical behavior. In the end, your opponent will often learn the true state of things. If you cross the line you jeopardize future deals with that and other agents. A much underrated concern is that if you go to far, you'll have to live with your unethical act for a long time if not, if its flagrant enough, for the rest of your life.

In poker, the same issues are involved. A reckless bluffer will get called more often and see a net loss on his annual ledger. An unethical bluffer (certain comments, motions etc.), will label the player and the person (the game often extends beyond the boundaries of the felt) as untrustworthy. Bluffing the wrong type of player or in the wrong situations are huge net losers in the long term.

A bluff is the culmination of a story. You build your reputation at the table. Playing selective hands takes the frequency tell out of the equation. Never show your cards to build this image. Uncertainty is the pro's best friend. Then you look for the ideal situation:

• Semi-bluff whenever possible
  
• Attack the ABC player
• Look for bona fide weakness
• Pay attention to patterns in their game
• Bet enough (too much is much better than too little)
• Look for positional advantage

There is much much much more to consider and talk about in bluffing strategy. On my site, I give many examples and rate the quality of the bluffing situation. Soon it will become second nature. You'll know that there are situations that your opponent will know he most likely has the best hand, but he absolutely cannot call. The risk is to large. This knowledge and ability is probably the single most important skill that separates the pro from the amatuer.

In the end (without counting continuation bets), you should be bluffing no more than three or four times a session. And four times is too much. But be aware. Once they start to see what you are doing modify. On top of that, your personality, ethical backbone and understanding of the type of players you are up against skews the strategy accordingly. What a great frickin' game!

Balancing Act: Life as in Poker

I think unconsciously, we are all making decisions on a sliding scale. There are always extremes and we are always adjusting how we live, act and relate based on our mood, our goals, our upbringing etc. For example, there is work and family. How much should we focus on our work and how much time should we spend with our family? In the short term, there is a drive to be at work and make as much money as we can. Be successful. Be rich. But in the long term, we find out that accumulating excess cash at the expense of spending time with our family is an empty pursuit. Not many people on their deathbed say; "I wish I spent more time at the office."

On the other hand, we do need to make enough to ensure our family's security and to achieve some personal satisfaction. So we slide our actions on the "Family/Work scale" that works best for us.

We also have scales relative to Eat/Starve. Friends/No friends. Organize/disorganize. Exercise/relax. etc. Life is a big balancing act where we try to keep things just right. When things are out of balance, we can fall down the evil road of drugs, alcohol or infidelity or some other unhappy failing.

Personally I do yoga once a week. Been doing it now for 22 years and haven't missed a week. Besides working wonders on my weak back, it gives me a chance to reflect on the balances in my life. Many times we are unaware of the scale and we fall into these ruts. I don't say I completely "unskew" my ruts (far from it), but I use that meditative time to make some adjustments.

Poker works almost the exact same way. I'm currently working on a course on Tournament Play during the middle phase. A good player carefully slides each scale in a dynamic way as new information and situations change. For example, in tournament poker it is absolutely critical that you make moves (bluff or semi-bluff). How often you do so is the sliding scale. You may slide toward bluffing a lot if: prior attempts were successful; you are the chip leader; your opponents are playing passive (ABC) poker; good opportunities keep presenting themselves; you haven't been getting good starting cards etc. The good player keeps changing his or her bluff percentage based on everything in his or her poker universe. The weak player plays the same way every time. Being aware in poker and acting on what you perceive leads to success in the long term. And guess what? It's all about the long term.

Looking at the World Differently

Ever since I've made the jump to playing poker for at least part of my income, I've noticed some very interesting effects on my general life outlook.

First of all, I see money in a very different way. Since it comes and goes in waves, it has lost much of its significance to me. By that, I mean for example, I hired this book promoter (Kennata) a few months back to set up some book signings. Kennata could notta do anything right. She turned out to be totally incompetent and I pretty much lost all the money I paid her and she took 100 of my books and never returned them. In the past, I would have been very disturbed and resentful and I would have pulled out all the stops to get my money back. Now. I say, "Darn, $3200 down the drain. That sucks." I move on. It's like I had a real bad day at the tables. Everything is compared to a day at the tables. I get a tax refund check for $4500. Nice. A good day at the tables. Money is coming into my pocket and leaving it far more frequently than before. It's the way of the poker pro. I think this is a positive change in my world view. I see money more clearly for what it is. It isn't the be all or end all for my existence. Far from it. Just the makings of a bad day or a good day. No big deal. I can now focus on the really important things in life. Time. Family. Friends. Creating. Art.

I think it has also forced me to be much more aware of the moment. Just as Utah becomes existential in the tropical wilderness, I've become more attuned to the present. For example, every time I get a nice payoff from a tournament or big cash win, I use a formula for the disbursement of my winnings. Let's say I just won $10,000. Of that I take 25% ($2,500) and put it away. I use another $2,500 for everyday expenses. Another quarter is reinvested into my poker bankroll. And, most importantly, I spend $2500 right away on something fun, something I can enjoy that very moment, usually with my wife and family. Once I took my wife on a two week trip to Italy. Another time I bought a big flat screen TV. A cruise. Refinished our basement. A cross country trip in a monster RV. Five days in St. Lucia. All in the last five years or so. Poker has allowed me to enjoy the journey. To experience, savor and relish all the steps along the way and not sweat the small stuff. Thanks poker, you've opened my eyes.