All In with World Series of Poker Champions, by Planet Money
Geege Schuman stashed this in Gambling
VANEK SMITH: Being a professional poker player is like having a job where you get paid once every 10 years. And when you do get paid, it's a lot of money. It's 10 years' worth of money, but there are a lot of lean times before
ROMER: Sunglasses or no sunglasses?
WOLTERS: I don't wear sunglasses. It would just be weird to me, wearing them inside.
ROMER: Because, in fact, it is weird to wear sunglasses inside.
I'm glad I'm not the only one who thinks it's weird.
VANEK SMITH: Derek, our investor, who watched the whole tournament from the sidelines - he took home almost as much as Jake, $600,000.
ROMER: Derek took that money and reinvested it.
VANEK SMITH: Derek still plays tournaments. But more and more, this is what he's doing - buying up shares in other players.
This is what I learned from that article. Poker players invest in each other.
Less gamble, more arbitrage.
Portfolio theory at work!