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Edited on Thu Dec-30-10 08:24 PM by RandomThoughts
1. Grow extremely rapidly 2. By making bad loans at high yields 3. While employing extreme leverage, and 4. Providing only minimal loss reserves
I actually learned that during pool days. The pool hustlers would never play another hustler, they would always go after the people that did not know what they were doing. Why Eddie really was not about him being a hustler.
Also in poker, some of the pros don't play against each other, but against the people that don't know what is happening.
That is why they don't prosecute each other also, no money in it for them.
Also why secrecy is used, they don't want people learning what they do, not only because nobody will give them action on a bet, they won't be able to hustle, but they think people will be like them and make it tougher for them to skim off the people that don't know.
Also the Hustlers would never take a loss, if they started to lose even a little they would not play, if they never allowed losing money, they would make more money in the end, so even while playing they had nothing they would be willing to lose to anyone anyways. If you think of life as game metaphor, many of them aren't even players. Since they will only play if they can take from a person below them. They farm the blues and greens and do not get any experience.
Again just a metaphor, they are out there taking from people that don't fight back, or want the world to be better, they never went out and slew a dragon to help the people, they take from the people. Again just a metaphor, and what you think fighting is, but might be understood by some. A bit cannibalistic don't you think.
It actually is not anything that special, saw same thing in poker games and pool halls.
Side note, when I played pool, I always explained that I was pretty good at pool and would win, then if they wanted to play for money, I would. Only someone of ego would jump in, and someone that wanted money. Although I did lose as much as I won in concepts of money, it was never really about the money. Much of the time, depending who playing, I didn't want to take the persons money, sometimes I did, and I had no problem playing against better players, since it was not about the money. Got some good experience in those games though, even when not winning money.
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