Economic Lessons from the Sports Book

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…

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Comments

Economic Lessons from the Sports Book — 1 Comment

  1. Speaking of sports betting,why is one state allowed to have it,while the other 49 are denied this right to have its citizens invest their money as they see fit?I guess if your state has a Democratic Governor,you can pass laws to sell narcotics in violation of Federal law,but woe to a state that has a Republican in charge if it wants to give their citizens investment freedom.