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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Ralph W. who wrote (95187)	3/23/2002 11:28:16 PM
From: Dave Feldman	Read Replies (1) \| Respond to of 132070

I've never really bet horse racing seriously, and haven't followed it on a daily basis since high school <sic>, when I was old enough to pass for 21 at Santa Anita and Hollywood Park. 58% net? Wow! In my book, I compared "speed" to earnings for stocks. How much a company earns is obviously important, but then reported earnings are available to everyone. If you are going to make speed or earnings the cornerstone of your approach, you'd better have some real kind of edge compared to others. It's only when you can manipulate those earnings and earnings forecasts somehow (the equivalents of class or trip handicapping) can you distinguish yourself from "the crowd." The good news is that in the stock market, a buy and holder in the crowd is likely to be a winner (you can't spend relative performance if you've lost money), but the average track bettor is in the red.