Bob wrote: "I'm way ahead this year. I lost last year."
I assume you had an edge in both years, so your loss last year was due to variance. Variance is close to symmetrical, so it's probably expressing itself in a positive way in your results this year, but you will pay a tax on it. Paying tax on variance is a negative EV because there is no legal carry forward of gambling losses. You could have done some planning to avoid that negative EV. Essentially you made a strategy error last year (that error was taking on more variance than you had edge) and that error is expressing itself in addtional tax you will pay this year.
[Non-text portions of this message have been removed]
__._,_.___
Posted by: nightoftheiguana2000@yahoo.com
| Reply via web post | • | Reply to sender | • | Reply to group | • | Start a New Topic | • | Messages in this topic (27) |
.
__,_._,___
