M, Erik explains, is a way of thinking about your position in a tournament. “You have to be aware of everyone’s stack size,” he tells me. “When you get to Vegas and start playing, I want you to write down hands for me. And for every hand, you need to tell me how much everyone has behind. You have to always be aware of it.” Normally, people think of stack sizes in terms of big blinds. M takes it one step further, by quantifying your risk of going broke. How many orbits around the table can I sit and not play a hand? Your M is, basically, your cushion for putting in the minimum each orbit. The
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