This week, the Poker News Daily web TV series “The Showdown with Jon Friedberg” welcomes investment manager and our host’s father, Jeff Friedberg. An in-depth discussion on investing your hard-earned poker money is at hand in a can’t-miss episode. UB.com sponsors “The Showdown,” so show your love for the show by signing up for UB.com using the promo code “UBPND”. Check out Part 1 and Part 2.
First out of the gate, Friedberg discussed the war of words that took place on the TwoPlusTwo forums last week between UB.com front man Joe Sebok and Jonathan “FatalError” Aguiar. Sebok ultimately apologized, leaving Friedberg to observe, “Joe is a very good guy. However, he did take on a very big responsibility in his role with UB. To sum it all up, when you’re cleaning out a bedroom or a closet or anything, it always gets dirtier before it gets cleaner. I think that’s what Joe happened to go through next week.”
Next, Friedberg examined music that poker players listen to at the tables. What does the 2006 World Series of Poker bracelet winner have queued in his iPod? “Personally, I like to listen to music that motivates me and gives me energy [like] Metallica and Deftones,” Friedberg told viewers. “If I’m in more of a calm mood, I’ll listen to something more like Pink Floyd, but for the most part, I like music that stimulates me and gives me energy.”
Jeff Friedberg is the President and Founder of Friedberg Investment Management and explained why hoarding cash under your mattress or in a box is a poor choice for any poker player: “If you leave it in a box, you’re not going to pay taxes, but you’re not going to earn any income either or have it appreciate.”
What should someone with an extra $10,000 lying around do? We’d suggest playing in the Main Event starting on July 7th, but the elder Friedberg shared his opinion: “The first thing they should avoid is an annuity. No matter how much money I have, annuities are very expensive, they don’t necessarily return that much, and once you buy them, you can’t get rid of them… [Also,] don’t use a full service broker like Merrill Lynch because they’re going to encourage you to invest in something that guarantees a lot of fees for their firm.”
Instead of looking at annuities and brokerage firms, Jeff Friedberg suggested that poker players with an extra 10 grand invest in mutual funds and individual stocks: “With $10,000, someone can either take the route of finding their own mutual fund at a place like Vanguard or Fidelity. Or, dabble in the market and start small. People who have become good poker players pick it up on their own.”
What about real estate? Many players who have invested in properties in cities like Las Vegas have been taken to the cleaners in recent years, but the investment manager contended that buying real estate was still wise: “A lot of people have done well over time in real estate. It’s a good area to invest in. It’s something you can see and touch. For those people who want to get into real estate, by all means. Just know it’s not liquid.”
New episodes of “The Showdown” are released every Tuesday exclusively on Poker News Daily. Remember to sign up for UB.com using the promo code “UBPND” today.