Business Lessons From Blackjack
Steve Pavlina: “Novices miss golden opportunities. Novice blackjack players will almost invariably play their hands too conservatively. They’ll stand too often when they should hit, and they’ll fail to double down and split pairs as often as they should. They hesitate to hit 16 against a dealer’s 7 or to split a pair of 2s against a dealer’s 4. They give up a lot more to the house by playing defensively, trying not to bust. But expert players exploit every opportunity to maximize their wins, meaning that they’ll double and split far more often when the odds favor doing so. Expert players will bust more often, but they’ll also hit their big hands more often. You see a similar pattern in life too.”
via Ken Dyck.
Kir on March 18th, 2008 9:10 pm
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