A few clarifications about "MIT BJ Team Op. Manual"
This does appear to include excerpts from our player manual and, as such, does constitute copyrighted material that was provided to players on a confidential basis. Whoever posted this on the web did so in violation of the confidentiality agreements executed by all players.
With regard to postings about expenses, players incurred almost no expenses while playing, as the General Partner raised $1MM to bankroll this venture and all player expenses, hotels, travel, meals, etc. were comped. In addition to receiving pay based on their hours played and skill level as well as a percentage of profits, players were also treated to many perks and freebies above and beyond basic "room, food, and beverage."
Furthermore, the team had minimal overhead other than the substantial guaranteed pay to players for casino play and regular administrative and accounting time. Of course, from an investor's perspective, the pay to players came off of the top as an expense of the partnership and thus the team had to generate profits in excess of this amount for there to be a return to investors. It is also important to note that for the Strategic Investments Limited Partnership in the early/mid 90's that a substantial portion of the investment came from the players on the team, including the General Partners who risked their capital on the same terms as the other players as well as outside investors.
From its beginnings in 1980 and over the course of 10+ years of play, the MIT BJ Team trained over 150 players, ran over 20 profitable "ventures", paid players an average of $100/hour, and generated average annual returns to investors of ~100%/year.
