Friday, May 15, 2009

Equine investing...Where the windows clean the PEOPLE

Tomorrow millions of casual fans will have their TVs tuned to the Preakness to see if Mine That Bird can notch another victory in his quest for the Triple Crown. There is also much interest in the filly, Rachel Alexandra, since a win by her would be the first by that gender since 1924. Kentucky Derby winning jockey Calvin Borel appears to have voted in favor of Rachel Alexandra. Borel chose to ride the filly in the Preakness after making an electrifying last-to-first move with Mine That Bird to win the Derby by more than 6 lengths. So much for loyalty.



Mine That Bird ,alone in his stall, wonders what happened to Calvin.


The hussy, Rachel Alexandra, looking swanky after a workout.






I have never been a major railbird, but have been known to make an occasional wager on a bobtail in the interest of sport and solid business judgement. In thirty years I have made money...twice. The first successful adventure in para mutual investing came in 1984 in Las Vegas. My friend and business partner, Bob Hanna, and I were in the habit of meeting at the Sahara Hotel race and sports book every Saturday morning in the Fall to place our considered and well thought out NFL wagers in the hands of the accommodating bookies provided by the establishment. After handing in our weekly wagers we would enjoy a leisurely lunch at the bar and speculate on how to spend our anticipated winnings. (The fact that Joe Conforte was looking for investors in the Mustang Ranch got considerable attention.)

On that particular Saturday, as we enjoyed our repast of hotdogs and whiskey, one of us glanced at a TV screen in the sports book where the first race was about to go off at Pimlico. It came to our attention that a 30-1 shot named Barroom Hussy was in the race. Simultaneously we looked at each other and said, "We cannot let a magnificent piece of horseflesh like that run without us having a rooting interest!"
The horse won. Many horses AFTER that race won for us as well. We were horse picking geniuses! By 4 PM we were also very much in trouble with our wives. Both of us had said that we would be home around noon and, well...we would have called, but cell phones hadn't been invented yet. Yeah, that's it. We were also VERY drunk.
Linda and Judy were plenty steamed when they found us at the Sahara, but abruptly cooled off once they spied the pile of bills stacked in front of us on the bar. As I recall, a fine dinner to smooth the marital waters still left us "bucks up" on the afternoon.
Naturally Bob and I had big plans for this run to continue on all Saturdays going forward. Alas, it did not.



A couple of years ago I had another winning day at the track. I was with my pal, Fireman Bill, at the Del Mar racetrack here in San Diego and it was a wonderful afternoon of moneymaking fun. My approach to the sport was quite different from the Barroom Hussy days. I hadn't had a drink in several years; so alcohol was no longer a partner in my horse picking decisions. Also, I had read a book on "picking winners". My system was now studious, reasoned, and analytical. In short, it was now a snooze. ZZZZZZZZZZZZZ.
By the end of the day I was up $7.42. Bored, but UP $7.42.

So, I'm still searching for a sure fire horse picking method. (Yes, I've given some thought to always going with the horse that takes a massive horsey dump just before the race. It doesn't work.)

I know the odds are long for Take the Points tomorrow, but I like him at 30-1. Papa Clem at 12-1 is also intriguing.

Maybe I should employ the wisdom of my old railbird pal, Champagne Joe, who once told me "Always go with the mob horse." Joe insists that it's money in the bank to check the Racing Form for horses whose owners have Italian surnames.

"The mob horses never lose."---Champagne Joe (June 17, 1990)




I wonder which horse is Tony Soprano's?



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