Dan Harringon Uses Poker as a Pawn to Capture King-like Financial Success
Inside Dan Harrington’s penthouse condo, an ornate desk stacked with presentation binders occupies the focal point of a large living room. An antique chess table abuts the glass and chrome window wall, offering panoramic views of Santa Monica’s posh Third Street promenade. The large plasma-screen TV tuned into CNBC hustles stock tickers across the screen and bookshelves full of backgammon, chess, business, and real estate titles hint at the raw materials that Harrington has used to build his unique life. The 63-year-old retired lawyer, chess master, and backgammon savant has spent a lifetime transforming his competitive game skills into extraordinary financial success.
The 1995 World Series of Poker champion has amassed more than $6 million in tournament winnings over his 20-year poker career. However, this title meant, and still means, very little to him. Instead, it validated his thesis that games, whether they be poker, chess, backgammon, investing, or real estate, are beatable with a studious and disciplined approach.
Harrington “retired” from poker soon after his World Series championship victory. From 1996 until 2003, he tallied only nine tournament cashes and, instead, focused on building his business, Anchor Loans, into the largest private real estate lending institution in the United States. The business loans money to developers and investors who are unable to secure enough financing via traditional sources for refurbishing residential homes and apartments in dilapidated areas.
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Special thanks to M. Jeffreys for sending me this story.