i recently came across an interview with Phil Ivey where he says he "doesn't care" about the $$ when the journalist asked him about how he deals with the constant stress of making/losing 6-7 figures in the span of a few hours.
his comment was kind of similar to CIS/BNF's remarks about focusing on the game itself, more than the $$ per se. i guess when u amp up the size of ur bets under a kelly criterion-like approach, there's a certain point where a 10 pt move in ES could mean +/- value of a house before lunchtime, etc.
but then if the the guys who win big don't really care about the money, why do u see so many of them living frugally? (ironically, on the flip side, the guys who blow out spectacularly seem to be those who lived large, stories about Jesse Livermore come to mind)
so what is the most effective approach to looking at $$? not to get all theoretical with Freudian psychoanalysis and whatnot but self-sabotage comes into mind - perhaps 'not caring' about the money means that you short-circuit any potential channels for self-sabotage? then when you made it, you keep the dough under tight lockdown?
his comment was kind of similar to CIS/BNF's remarks about focusing on the game itself, more than the $$ per se. i guess when u amp up the size of ur bets under a kelly criterion-like approach, there's a certain point where a 10 pt move in ES could mean +/- value of a house before lunchtime, etc.
but then if the the guys who win big don't really care about the money, why do u see so many of them living frugally? (ironically, on the flip side, the guys who blow out spectacularly seem to be those who lived large, stories about Jesse Livermore come to mind)
so what is the most effective approach to looking at $$? not to get all theoretical with Freudian psychoanalysis and whatnot but self-sabotage comes into mind - perhaps 'not caring' about the money means that you short-circuit any potential channels for self-sabotage? then when you made it, you keep the dough under tight lockdown?
