Dollars were flowing at the 2011 Keeneland September Yearling Sale like champagne on New Year’s Eve in the heyday of Guy Lombardo at the Waldorf Astoria. This spending extravaganza came despite a litany of bad news from elsewhere. The world is being roiled by fears about a credit default by Greece and the worsening debt [...]

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As a longtime recreational bettor on horse races and a serious investor in stocks, I have found that guiding principles apply to both activities. Avoid Touts and Tips. Horse racing and stock investing are ventures in which someone “in the know” is eager to provide you with a tip on the next sure thing. Usually avoid [...]

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Racetrack executives are sometimes criticized for putting so much emphasis on advance deposit wagering. The evidence mounts in industry after industry that racetracks have no choice if they want to remain in business and expand revenues and profits. The Economist magazine (July 9, 2011) posed the question: “Who killed the newspaper?” It went on to say [...]

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