Andy Beal Wins A Big Pot

andy_beal

andy_bealAndy Beal articles are still popping up about his recent cash in buying up mortgage-backed securities for cents on the dollar.  Ironically, the banker/poker player made the conservative move waiting out the loan balloon era while other banks gambled away beeeallions (followed by the infamous debt assistance).  Sadly, Beal’s prudence landed him under investigation for not following the herd.  Translation… Beal passed on the over glorified AK, waited for AA and picked his spot.  The result?  Well, he isn’t exactly walking back to Houston or as I like to call AK… walking home.

While Beal moved on to increase his bankroll, it’s sad he was frowned upon because he didn’t help fuel the economic crisis.  According to The Business Insider:

These days Beal’s still fairly pessimistic and predicts that about half the country’s banks, 4000, would go bust if they were being honest about their books.

Thanks to Amy Calistri and Jason Kirk for their posts and reminder.  And my father-in-law for passing on the good story.

Photo Courtesy Amy Calistri

Tea Bagging Spoils Milk

I’m a swinger.  Don’t get excited, I mean I’m a swing voter, independent, no party, no commitment.  My vote is usually based on my own research, avoiding the media, personal beliefs and needs rather than what the cool crowd is doing.  In fact, I didn’t vote in the last primary simply because I hadn’t done the research to ensure a fair decision.  And while sometimes I lean right, I have to say about today…Tea Bagging is gay.  Gay as in stupid gay, not merry gay or the kind of gay you whisper around your parents gay. 

Its understandable higher taxes are disliked as its not right to be in a higher tax bracket after working twice as many hours to make that extra money (that means you’re making less per hour and having less fun – assuming we’re comparing apples to apples). Ditto for the savers who pay the price of the spenders or the spenders who still want to spend or the tax payers paying for a bunch of debt due to negligent citizens… And don’t bitch to me, if you knew how much money I’ve watched go to property taxes and interest on 6-10 pieces of real estate in the past few years you might cry.  Some of which are still sitting there… and when selling them IS your income… well, it’s not so great. 

But the underdog team doesn’t win by complaining or resisting.  They win by having the attitude of when life gives you tea bags, make a good cup of tea.  Or something stupid like that.  The point isn’t whether or not taxes should go up or down, the point is…spend your money wisely as well as your time.  After all, time is money.  And if you have the luxury of time then put it to better use  and help people out.  Today’s Tea Bagging Party has proved a valid point…  some Americans have the luxury to stand around playing tea bag games.  And they aren’t exactly asking what they can do for their country.  I’ve often wondered who the hell has time to protest anyway. I don’t care what side of the fence you’re on, how can people stand around nagging like whiny little bitches when they could be doing something to help the world?  For an MSNBC example:

“We have a million tea bags here, and we don’t have a place to put them because it’s not on our permit,” said Rebecca Wales, lead organizer of D.C. Tea Party.

Really? So then what you’re saying is you have one million pro-testes-er’s tea bags to throw in the trash?  Wait, weren’t those tea bags sold for $1 dollar each? So, that’s like throwing a million dollars in the garbage but you don’t want to pay more in taxes?  Haven’t you learned from Sally Struthers what $1 can do for a child?  

How many fiscal protesters stood around nagging this year?  If they made ten bucks an hour for their bitching then maybe we would be on our way to fixing social security.  Or how about the thousands of dollars spent on government employees wasting time (AKA money) dealing with the ol’ tea bag in the mail trick? 

And finally, if it’s legal to play poker in your own home in Texas… if I win, do I have to pay taxes and can I write off losses against the winnings?  And if I’m robbed will the police represent me in the pursuit of the return of my money? That was a rhetorical question, Dan.

BTW, ”tea bagging” doesn’t necessarily have everything to do with tea bagging.  If that didn’t make sense then just tell yourself… that didn’t make sense or go ask grandma google.  But just for the record, I’d rather be a tea bagger than a tea baggee.

Another BTW – to all of you sending emails asking me to send you money… my website has earned less than $25 this year.  It cost $120 to host.  And much more of my time.

Another, another BTW – No, I’m not getting my period.  Just ask my hacker.

UPDATE: Disregard all grammar, typos, off the wall scatter brain thoughts.  I don’t have the time to fix them.

Early Voters Suffer from Congressional Confusion

A few Americans ignored poker and the November Nine Lives to vote early for the best campaigner (McCain or Obama).  But who cares about campaign platforms when there are other people to consider? Presidential campaigns are filled with "ifs and buts" and if "ifs and buts" were "candy and nuts" then everyone would have a Merry Christmas.  So, follow the Sixteen Candles advice and be a smart ass rather than a dumb ass by doing some history research before clicking the ticket. You don’t want to end up like the early voters who took the time to ignore poker and were like…

"WTF? Who are all these other people on the ballot and how long will this take? Screw this… who cares about the other people because I need to make the 4pm tourney."

Uh, well… some of the names are those who slide in the sneak attack stuff onto the poor little bills stuck up on Capital Hill.  So, quickly put some Janet Jackson in your head and ask your Congressman "What have you done for me lately?"

If you don’t care about Congress or the three branches cause for headache then just vote:

    1. The same as your peers
    2. The same as your peers then blog about it like you have a poli sci degree
    3. The opposite of your peers but lie when they ask
    4. Allow the media’s prediction to manipulate influence your vote (just don’t forget they were wrong the last two elections).
    5. For the tail who is wagging the dog

TPG & Apollo To Close On Harrah’s Deal This Month

There has been no word on whether or not Harrah’s stockholders will receive player points for junk bond purchases.  Assuming rumors of the banks trying to sweeten the deal are not true, Harrah’s stockholders will be cashing at the cage for $90 per share.  Apollo Global Management and TPG have scheduled the leveraged buyout closing date for January 28, 2008.  The 27.8 billion price tag will include Harrah’s 10 billion debt.  All Casinos’ are supposed to stay in debt on paper, right? 

Hopefully, we will have some geographical answers on the World Series of Poker’s future.  We already know the Rio will host in 2008 but the consistent rumors of a Caesars Palace relocation remains just that…a rumor.  Suits have favored the Rio location, as the freestanding structure is user-friendly and surrounded by an enormous, steaming-hot, easily accessible Chippendale Dancer parking lot.  Not to mention, we do not know if Apollo and TPG will even keep the WSOP or sell it to another entity (Venetian?). 

Do not hold your breath, with a downtrend in yield, the DOW and the bottoming of the high-risk loans it may be time for Vegas to offer up some odds on a possible postponement.