Ularu, Ayers RockI just spent a few days at Ularu, Ayers Rock, in the middle of Australia.

The reality is it’s a fascinating example of sedimentary layering followed my uplift in terms of geology. The myth is the original land owners say it was built by 'hands' and is sacred.

There are more market myths than reality. One I think is that the markets are pretty much always the same, supply and demand coupled with emotions.

I had a delightful dinner this week with the largest bookmaker in Australia (it's legal here). I asked if I wanted to crunch numbers through a computer to understand winning horses what would be the most important thing to look at?

His reply was oh, so telling. "Right now pace, that means more now than speed ratings".

He went on to explain how things have changed in racing (I thought it was just horses running around the same track as for the last 50 years). to his trained eye it all changes, all the time. Seems the markets and races have lots in common.


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