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By Warren Buffet - Horseplayer
jeff
12/29/2014
4:06:52 PM
Saw this link posted on Paceadvantage...

For Warren Buffett, it all started at the racetrack:
http://maidenking.com/tag/buffett-horseplayer/


--quote:
"I'd get the Daily Racing Form ahead of time and figure out the probability of each horse winning the race. Then I would compare those percentages to the odds," said Buffett, who bet from $6 to $10 to win. "Sometimes you would find a horse where the odds were way, way off from the actual probability. You figure the horse has a 10 percent chance of winning, but itís going off at 15-to-1."
--end quote



Interesting read.


-jp

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