Dec

4

What a fantastic awakening from hibernation to the cost of all weak players. Hats off to an amazing and stirring way of creating vig, slippage, and paying for the markets infrastructure.

Jeff Watson writes:

Have you ever noticed that a headline event that everyone and their brother are arguing (like a rate hike), the $2.00 bettors end up taking both sides, usually they're bearish. Market media is pumping the entire thing. When the event happens, or doesn't, the mistress moves the market both ways and deftly cleans out the entire herd of juveniles, plus she takes out all the people who bought quinellas and trifectas.

As an aside, here's a glossary of track words and phrases with good meanings. One could find market parallels in almost every word or phrase, just like Bacon. This site is sublime. 


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  1. James Schroeder on December 9, 2015 1:03 pm

    Jeff,

    I love the link, and the payoff is at the end of the glossary. “Zero” indeed.

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