Professional sports betting has gone through big changes driven by technology over the last ten years similar to that which the hedge fund industry has gone through. Complex algorithms and physics PhD's try to model when a market becomes out of sync with reality and the opportunity is then seized on.
Here is Bloomberg's recent piece on a tennis bettor Elihu Feustal who does just that - http://www.bloomberg.com/news/2014-01-15/tennis-quant-s-system-doubles-his-money-without-knowing-players.html
Bob Voulgaris, likely the biggest basketball bettor on the planet - http://www.businessinsider.com/sweat-in-the-game-a-gamblers-grind-in-the-nba-2011-4
Saturday 18 January 2014
Charlie Rose
One of the more interesting Charlie Rose episodes covering the recent Chris Christie scandal, potential risks and surprises of 2014 and cyber security. http://www.charlierose.com/watch/60325159
Efficient Markets
Howard Marks is one of the most successful investors in recent history. His firm Oaktree Capital's average return across their 17 funds is 19% net of fees over the last 22 years. His memo's are often full of incredibly insightful and lucid observations not just of the financial sphere but the world in general. The last piece on luck and the efficient markets hypothesis is true to form - http://www.oaktreecapital.com/memo.aspx
Sunday 5 January 2014
Soros reviews 2013 and looks ahead
Very good summary of the year that has past http://www.project-syndicate.org/commentary/george-soros-maps-the-terrain-of-a-global-economy-that-is-increasingly-shaped-by-china
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