Uninvestable? Part of the game

Sure people can argue they were seeing many absurd things in China over the past couple of years, but in the grand scheme of things, this may also be considered a part of the game.

Just like in some countries, there are various forms of “cost of doing business”.. including developed countries. They are different. So one often needs time to study, and may feel unacceptable.

China is the same; maybe a bit more special – unpredictability of rules is a cost of doing business. Maybe somewhere else, the cost of doing business is “written” in the rules so you know the “cost” before you play. Here, it’s like a higher level of “costs” – changing rules is part of the game & thus this “cost” is hard to calculate/predict. If you can’t calculate costs, and you don’t know the probability, you can’t calculate your return.

However, when you recognize that unpredictability is part of the “game”, then it can become “investable” from time to time.

The “best” player might be able to predict when is investable and when is not.

It’s also okay to be a bit behind. The key is to protect yourself when it’s “uninvestable”, and be reasonably participating when it’s “investable”.

Focus on those periods. You may temporarily forget other “costs”. But you can only pretend that you forget, with a reminder/timer. You have to remember this cost on a deeper level.

The safest period is right after the most dangerous period.


Normally, I prefer not to play poker with Chinese, as they often too good at playing with people.

This doesn’t mean I can’t play. It’s just too energy-consuming.