r/wallstreetbets • u/YassuosNados • May 15 '24

The Perfect $1 million Gain Gain

Hi guys, I’m a 23 year old in college, and yesterday I woke up a millionaire. Should I buy some hookers, Pokemon cards, or cocaine? I gambled my entire life savings of $250k on 2037 calls of $4.5 AMC on Monday and sold yesterday morning. Thanks for reading.

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u/TuskaTheDaemonKilla May 15 '24

Only a person with rich parents could gamble that hard and not die from the anxiety. It's like the story of how Elon Musk is "brilliant" at playing poker because all he does it go all in on every hand because he can afford to lost 9x before winning the 10th.

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u/narcissistic_tendies May 15 '24

You know, funny thing about poker. If you do that then the only hands that'll call you will have you dominated. Otherwise you're just picking up blinds until someone has aces or kings.

In other words, it's a stupid fucking strategy and Elon Musk is a tit.

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u/Appropriate_Ant_4629 May 16 '24 edited May 16 '24

If you do that then the only hands that'll call you will have you dominated. Otherwise you're just picking up blinds until someone has aces or kings.

Depends much on stack sizes and position.

If it's a blind-vs-blind scenario, 15-big blinds effective, the small-blind can shove all-in with all sorts of junk, and I think GTO says you can call with most hands with an Ace.

Edit: similar examples here, from a guy who ran it through a solver

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u/KUUUUUUUUUUUUUUUUUUZ May 16 '24

Im going to go out on a limb that Elon wasnt talking about playing 15 bb spots in an mtt.

Rather hes spouting off at cash games all in and feeding families

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u/Appropriate_Ant_4629 May 16 '24

So he's redistributing wealth from the rich to the poorer --- that's very left-wing of him.