4 Poker Playing Tips From David Einhorn

As you know, David Einhorn is a sick poker player - so we picked up a few tips on the game from him after watching him play last week on Bloomberg TV's 'Poker Night On Wall Street special.

David Einhorn (Greenlight Capital), Steve Kuhn (Pine River Investments), John Rogers (Ariel Investments), Jim Chanos (Kynikos Associates), Mario Gabelli (Gabelli Asset Management), and Bill Perkins (Skylar Capital) participated in 'Poker Night On Wall Street', which had a minimum buy-in of $50,000.

Greenlight Capital's David Einhorn, who finished in third place in the World Series of Poker in 2012, shares his tips on how to become a better poker player (you can watch the video here).

Tip #1: Practice Makes Perfect.

Bloomberg

Einhorn began playing poker in 2004, had a great time, practiced with a friend for a year and then went on to the world series in 2006, which was his first big tournament. Six years later, he was a world series winner.

Tip 2: Think On Your Feet

Bloomberg

Some poker situations are just simple math problems. Think of the payout in terms of the amount of money you have, the cards you have and the probability of getting the cards you need.

Tip #3: Play The Long Game

Bloomberg

What happens in any given tournament is anything. it's like what could happen to one stock in a quarter. But over time, the better stocks prevail. Similarly, in poker, over time, skill is more important than luck.
Tip #4: Don't Take Poker Too Seriously

Bloomberg

At the end of the day, relax and treat poker like any other game, a way to decompress from the stress of day-to-day life on Wall Street. "Frankly, I'm feeling a lot more pressure over some coming earnings releases over the next few days," Einhorn says.

To watch the whole game, head to Bloomberg TV>