Monday, August 20, 2007

RISK MANAGEMENT AND A HAND OF POKER GAME

It sounds strange but what could a hand of poker and risk management have in common?

True, poker could learn personal finance and risk managers how to make the best of their tight chip stack and if you lose, how to loose well.

Harvard Law School has recently developed a strategy to find solutions to many of our problems through playing poker, whether it is a typical deliquent teenage issue or a triggering diplomatic crisis between two countries.

Surprisingly, poker could learn how to pursue respect, business strategy, research course or even war strategy. Nevertheless, poker is a great tool to learn how to think strategically by forecasting and betting-on-the-card. Thus, according to Harvard Law School, poker teaches people how to think for themselves. It is also a key aspect of individuality and a guiding aspect of managing and allocating resources.

What could business dealers learn from poker? Probably how to avoid making the first offer. What about children? How to have patience, composure and understanding diversity and someone else's views on various issues.

Source: Financial Times

2 comments:

Poker Paul said...

I realy feel for the gamblers in the US. I cant beleive your Congress banned all banks and credit card companies from accepting transactions from online gambling sites which makes you unable to play online poker. What a bunch of hypocrites your state government are. They have the largest gambling operations with lotto, keno, etc. If they truly believed their rhetoric about internet gambling they would cut out the state operations also. And now they are bringing in a law to legalise slot machines. Personally I would have a big grudge against any party that stopped me from playing on a online poker site. I think there must be some way for you guys to get around this problem. Must make you wonder if you are living in the land of the free when it seems the government has full control on what it will and wont let you do.

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