Technical AnalysisPosted: October 16, 2021 Filed under: Uncategorized Leave a comment
Picking up the morning racing paper like Hemingway, I spot an interesting* item:
* interesting to maybe four or five people? Seth Klarman is a famed value investor and billionaire, author of Margin of Safety, a used copy of which will run you upwards of $800, or you can go to the Central Branch of the LA Public Library and read it for free. Apparently he’s been in the horse game for some time with a not too shabby record.
Asked how much different investing in a thoroughbred is to investing in a stock, mutual fund or company, Klarman said, “In my regular life, I’m a long-term investor, so we make patient, long-term investments on behalf of our clients. This is gambling, this is a risky undertaking. This is not at all like what I do the rest of my life, but it does provide one of the highest levels of excitement that a person can have.”
source for that
I put out the word to a few people I thought might be interested:
I’ve kept the correspondent here anonymous but trust me when I tell you: I believe he is being genuine!
My examination leads me to believe there is no “margin of safety” wagering on this horse, your safest bet in my opinion might be 10, Closing Remarks, to show, but where’s the fun in that? Analysts seem to think Aidan O’Brien can turn around Empress Josephine after just a week’s race – he’s done it before – but I dunno, I’d be tired!
Update: Technical Analysis came in 2nd, so if you’d made a “margin of safety” place or show bet, you would’ve done well: $2 to place paid $4.20, $2 to show paid $3.80. Seth Klarman, teaching us even through horses!