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The people trading mortgage backed securities at Goldman Sachs or Citigroup probably don't use my system. When I go to the track, I don't look at the racing form, jockeys, past history or pick horses with funny names. My mother was a sucker for horses with funny names.
I just follow the odds. He and I would go to Keeneland every session and we never picked the same horse. Dad liked the excitement of big odds and big payoffs. He knew everything about the horse's past performance, their breeding and who was riding them. Dad was superstitious and started to believe that my system was jinxing him. If dad ever met the professors, he would have punched them in the nose. I stuck to my system. I stick to it today.
Betting to show fits with my overall philosophy about handling money. Slow and steady works in the financial markets and works at the track too. For whatever reason, my system has failed me at Kentucky Derby's. The last one I remember winning was Sunday Silence in I didn't pick Sunday Silence because of my system. I picked the horse because of an alumni connection to a man I had never met.
It was a stupid reason for picking a horse but produced one of my few winners. Thus, on Derby Day, my advice is forget all the high powered systems and give it your best guess. McNay is an award winning, financial columnist and Huffington Post Contributor. You can read more about Don at www. You can read more about both at www. McNay is a lifetime member of the Million Dollar Round Table and has four professional designations in the financial services field. US Edition U. Coronavirus News U.
The idea is that marketplace will move towards the best outcome. Those odds tied the highest odds for a favorite in the history of the Derby. In what was considered "the most wide-open Derby in years",  Super Saver hit the lead at the top of the stretch and held on to win the th Kentucky Derby.
The track was wet and sloppy due to rain the previous night and nearly all day on Derby Day. After a windy, rain-soaked day at Churchill Downs, the sun came out just shortly before race time. The winning time was Super Saver started the day as the second favorite behind Lookin At Lucky. Coming out of the No. It was the horse's first victory since winning the Kentucky Jockey Club Stakes as a two-year-old.
He was pinned on the rail early and did not get adequate running room until it was too late, finishing sixth. Palmer compared these horse racing bets to the controversial emerging exotic financial instruments that concerned then-chairman of the Federal Reserve Paul Volcker in He argued that just as the exotic wagers survived the media controversy so will the exotic options.
Although Super Saver never won another race,  several entries recorded subsequent Grade I wins:. From Wikipedia, the free encyclopedia. Super Saver The Star-Ledger. Archived from the original on 5 May Retrieved May 1, Daily Racing Form. Retrieved Archived from the original on 3 May Retrieved 1 May Associated Press. Retrieved 25 April Archived from the original on 30 April
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