For those who don’t know who Cool Hand Luke is:
A) you really should!
B) Here is a synopsis ‘in this 1967 film, Luke, played by Paul Newman is a prisoner in a Florida prison camp who refuses to submit to the system. He earns the nickname ‘Cool Hand Luke’ by winning a poker game with a hand that amounts to nothing – his response ‘Sometimes nothing is a real cool hand’
So really, the question might be ‘Is getting funded a game of bluff?‘
With nearly 30 years of experience in the lending business, I have seen times – not least the couple of years before the banking crash – where the answer in many cases way ‘yes‘ – hold your nerve, keep telling them the deal is a ‘no brainer‘ and someone, somewhere will cough up the money.
Today’s market is different. Many lenders are still licking their wounds from previous Poker losses, others are grateful that they didn’t make those mistakes, whilst the new ones have clear & defined parameters.
Quite simply, the conservative market is all about revealing your hand – even if that hand amounts to nothing. You might fool some people that you hold aces – you might fool them right up until the the last minute – but no cash will be forthcoming until you reveal – when you will be right back at square one.
Funding isn’t poker, nor any other game of bluff – if you hold the aces, you need to show them – if you hold nothing, then let’s see and discuss that nothing – in many cases we can build something and turn it into a fairly cool hand.
Save the Poker for the Casino