Jul

13

To what extent does the concept of speed ratings, popularized by Crist , have applicability to markets. One variant of the idea being which horse had the fastest quarter last race, or which one had the greatest move down from 1 quarter to the next, like from first quarter to stretch, or stretch to close. Can this concept be applied to days within weeks, or months within years? How would some of the handicappers or horses extend this and what would Bacon say?

Bill Rafter writes:

While in grad school a buddy and I used to go to Golden Gate Fields regularly. For some reason it was always on a Thursday, and we went for the last two races to avoid the entrance fee. The lack of admission was critical because it removed the necessity to bet. (relation to low fixed costs?) The Racing Form was a critical part of the exercise, and I would bet on the horse with the highest speed rating that was showing greater than 8 to 1 odds close to post time. The bets were on the minimal side.

My results were successful if you measured my wine supply, which was quite good. The accumulation of wealth from horse racing was not something I relied upon, so any winnings were spent on the way home at the liquor store on the main drag. Racing bets were not something to aspire to, for a very good reason. Going to the payout window revealed the demographics of those who typically bet on longshots, as an 8-to-1 horse was considered. We also tended to meet those same people in the liquor store, where they were buying Thunderbird.


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  1. Andre Wallin on July 15, 2012 2:22 pm

    Someone needs to analyze the psychoanalytical implications of fiat currency. I believe this to be the most important financial subject now and a quick google search yields minimal results.

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