Fooling Around

I don't fool myself into believing I have a winning system, best method, tactic, technique, theory, strategy or secret formula!! Lady Luck, fate, lot, chance, fortune, Law of Average, and Randomness always trick me into thinking I have that when I don't.

Everyday Is A New Chapter

Everything in nature is governed by cycles. Every morning we wake up in a different body with a different mind. We are not the same person that we were yesterday, the day before and tomorrow. What happens today will differ from that yesterday, the day before and tomorrow and nothing stays the same in this world. (It doesn't matter who we were a decade ago, a year ago, or even yesterday... what matters is who we are today, and will be tomorrow!)

Every race is unique unto itself, once run never to be run again in the same manner. Each race has its individual merits and each race is a different puzzle.

Nothing is absolute. All things are subjective.

Warren Buffett - Best Lessons from Warren Buffett -

“The art of handicapping is based on information. The key was having more information than the other guy – then analyzing it right and using it rationally.”

Mike Turner - Lessons from Warren Buffett…Part 2

Best Lessons from Warren Buffett

Best Lessons from Warren Buffett

“The art of handicapping is based on information. The key was having more information than the other guy – then analyzing it right and using it rationally.”

At “Committee Box” level 4 Singapore Turf Club, Hosted by Mr Teng Joo Chee. – Singapore (Kranji) Race Meeting on 03/02/2013

No matter how sophisticated our choices, how good we are at dominating the odds, how good our handicapping is, and it does not matter who we know and who knows us - randomness will have the last word.

When betting on horse racing, we must know that losing bets are part and parcel of betting and we must be mentally prepared for it (bumper harvest as well as drought ). It is best to have small wins to allow us to sustain play, than expecting to hit the jackpot. It is an enjoyable way to make a living if we bet in moderation and it can act as a business that can last a lifetime.

A punter who takes little risk in his betting would have very few disastrous outcomes. And because of that, he also doesn't get wildly rich in a short space of time. But he is wealthier according to the probabilistic method of accounting than someone who has taken a big risk by betting big and have his bet paid off. On the average of lives he could have led, he is extremely rich.

By contrast, the high-risk punter may only make it once in many lifetimes. Even in the lifetime that he struck it rich, there is a high chance of him suffering a blow-up - an unexpected movement in the market which more than wipes him out.

No matter how sophisticated our choices, how good we are at dominating the odds, randomness will have the last word.