It has been probably 30-years since I went to a sports book with the intent of making money. My gambling instructor was a nationally-ranked handicapper. He wasn’t just good, he was awesome. I mean buy or win a new Corvette every year, or two, awesome.
How does this apply to the economy and how you invest in today’s crappy world with any chance of a return for the future? Well, let’s try handicapping investing like the Daily Racing Form does with the nags; let’s put some economic outlooks up and see how we’d handicap them.
Life is a long race, with any luck, and each decision you make along the way, whether as a youngster just entering the workforce to being a grizzled oldster like Ures truly can be viewed two ways: As a “time seed” or a “wager.”
This morning after coffee and the Trading Model, we’ll look at what an economic version of The Daily Racing Form might look like and talk handicapping. If you ask an economist what the www.drf.com site is, and they don’t know? Run. If they can’t pick ponies, what should anyone believe any of your other picks, either? There’s a reason they call it a track record, you know…