DanJudge wrote:
I remember when being on the wings that his advice always followed the same theme of turning down big money early, but playing safe when the options are dwindling.
An over-simplified approach, to be sure, and it leads to many results that violate Danielist principles. However, it is a good way to maximise your chances at a Power 5 win while minimising your risk of a blue win.
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It was always clear to me that he wouldn't go home with a blue. I believe he is 82 (correct me if I'm wrong) and he has no reason to chase massive money.
Read: his utility curve flattens out in the Power 5 range a lot more than would be true of a younger player. For me, £250,000 is clearly distinguishable from £100,000 - the former buys a decent-sized house without a mortgage, the latter doesn't. For Ade, the two may as well be the same.
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Another really good trick by the banker that would catch out most players is the way the offer went up even though the big one went. Players are used to (and accept) the fact that when the big ones go, the offer drops a lot more than it should. When the offers went up after 250k and 100k, this looks like huge generosity on the bankers part, but these increased offers started from an original offer that was too low anyway (in my opinion). I'm certain I actually said this, but it must have been edited out.
I'm sure you did. His offer variations certainly were well-judged in this one; high early offer, a 'generosity lag' in the next two rounds, then a genuinely surprising increase, then a slightly less surprising one. Most players would have taken £21,000 or £22,000 - and most of those would have done so for the wrong reasons. The correct thing to do was to assess each on its merits - and there was a sound case for going on each time, albeit mostly relating to the lack of downside potential. Usually by that stage of the game, the risks and rewards relative to the offer are huge. This time, they were much more limited due to the board stability.
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Either way. I always believe that anything above £10-15,000 is a win, no matter what has happened. He's a happy man and was over the moon, despite what could have, should have, would have happened.
The long-run mean win was about £17,000 in the first two years of the show, and the long-run median win £13,000. Those numbers doubtless fell a grand or more in 2008, certainly the former, so your assertion that a five-figure win is a decent result is well-founded.