1 00:00:03,360 --> 00:00:06,760 Speaker 1: Global business news twenty four hours a day at Bloomberg 2 00:00:06,800 --> 00:00:09,880 Speaker 1: dot com, the radio, plus mobile, lapt and on your radio. 3 00:00:10,160 --> 00:00:14,600 Speaker 1: This is a Bloomberg Business Flash from Bloomberg World Headquarters. 4 00:00:14,640 --> 00:00:17,680 Speaker 1: I'm Charlie Pelloup. The Dow, the SMP, NEZ DAK are 5 00:00:17,800 --> 00:00:21,040 Speaker 1: all moving lower. SMP five hundred index heading four, the 6 00:00:21,120 --> 00:00:24,880 Speaker 1: steepest drop in two months, amid caution over tepid global 7 00:00:24,920 --> 00:00:28,320 Speaker 1: growth and a series of looming events with the potential 8 00:00:28,360 --> 00:00:31,400 Speaker 1: to spur renewed market turbulence. Right now, we've got the 9 00:00:31,480 --> 00:00:35,200 Speaker 1: SMP down twenty five points, dropped there of one point 10 00:00:35,240 --> 00:00:38,960 Speaker 1: two percent, the SMP five hundred index at two thousand, 11 00:00:39,040 --> 00:00:42,880 Speaker 1: ninety eight down, Industrials down a hundred and sixty nine points, 12 00:00:42,920 --> 00:00:46,159 Speaker 1: down nine tenths of one percent to seventeen thousand, eight 13 00:00:46,240 --> 00:00:49,840 Speaker 1: hundred fifteen ns stack down seventy two points, a drop 14 00:00:49,920 --> 00:00:52,640 Speaker 1: of one and a half percent the ten year of 15 00:00:52,760 --> 00:00:56,240 Speaker 1: fourteen thirty seconds. Zeal there one point six three percent, 16 00:00:56,320 --> 00:00:59,200 Speaker 1: Gold up five ten the ounce to twelve seventy seven. 17 00:00:59,240 --> 00:01:01,280 Speaker 1: That is a gain a four tenths of one percent. 18 00:01:01,640 --> 00:01:04,480 Speaker 1: And we've got crude oil West Texas Intermediate down at 19 00:01:04,560 --> 00:01:08,640 Speaker 1: dollars sixty six Arrow eighty nine right now on West 20 00:01:08,640 --> 00:01:12,199 Speaker 1: Texas Intermediate back below forty nine dollars. It is down 21 00:01:12,280 --> 00:01:15,720 Speaker 1: three point three percent. I'm Charlie Public and that's a 22 00:01:15,800 --> 00:01:21,480 Speaker 1: Bloomberg Business flash. This is taking stock with Kathleen Hayes 23 00:01:21,520 --> 00:01:25,840 Speaker 1: and Pim Fox on Bloomberg Radio. The test of champions, 24 00:01:25,880 --> 00:01:29,520 Speaker 1: and that's what the Belmont Stakes is often called. It 25 00:01:29,640 --> 00:01:34,040 Speaker 1: certainly attracts great horses, a great day of horse racing. Uh. 26 00:01:34,040 --> 00:01:37,199 Speaker 1: But of course, prior to this year's Preakness, many people 27 00:01:37,240 --> 00:01:39,679 Speaker 1: were hoping that the Belmont Stakes would be the pursuit 28 00:01:39,760 --> 00:01:43,560 Speaker 1: of another triple crown. But when runner up Kentucky Derby 29 00:01:43,600 --> 00:01:47,760 Speaker 1: Finish your Exaggerator splashed his way past Derby Champ Nyquist 30 00:01:47,840 --> 00:01:51,320 Speaker 1: over that sloppy Pimlico track, the subject of back to 31 00:01:51,360 --> 00:01:53,520 Speaker 1: back triple crowns was quickly put to an end. But 32 00:01:53,560 --> 00:01:56,040 Speaker 1: that does not diminish the importance or the excitement of 33 00:01:56,120 --> 00:02:00,480 Speaker 1: this race. He's back Peter Rotondo Jr. He's as President 34 00:02:00,520 --> 00:02:04,120 Speaker 1: of Media and Entertainment at the Breeders Cup. He's based 35 00:02:04,160 --> 00:02:07,360 Speaker 1: in New York. Joining me in studio is Gary Edel. 36 00:02:07,480 --> 00:02:11,480 Speaker 1: He's an analyst at Bloomberg LP. He's also a horse 37 00:02:11,560 --> 00:02:14,880 Speaker 1: racing owner. He's a tournament player, he's been involved in 38 00:02:14,880 --> 00:02:18,880 Speaker 1: horse racing for many, many years, and he's always a big, 39 00:02:18,960 --> 00:02:22,200 Speaker 1: big promoter of getting this this, uh, this sport on 40 00:02:22,240 --> 00:02:24,119 Speaker 1: the air. So I welcome you both. Peter. Let's start 41 00:02:24,160 --> 00:02:26,960 Speaker 1: with you explain to our listeners why the Belmont Stakes 42 00:02:27,000 --> 00:02:31,160 Speaker 1: is so important to horse racing. Well, the Belmont, I mean, 43 00:02:31,200 --> 00:02:33,079 Speaker 1: you know, it's the third leg of the Triple Crown. 44 00:02:33,120 --> 00:02:37,440 Speaker 1: It's New york biggest race by far, and obviously if 45 00:02:37,440 --> 00:02:41,600 Speaker 1: it's anything in New York, it's amplified, um as we know. 46 00:02:41,800 --> 00:02:44,799 Speaker 1: So you know there'll be about seventy thousand people here 47 00:02:44,800 --> 00:02:47,560 Speaker 1: and probably tomorrow. Last year it was ninety thousand for 48 00:02:47,600 --> 00:02:51,280 Speaker 1: the Triple Crown, the American parall Win, and it's basically 49 00:02:51,360 --> 00:02:53,400 Speaker 1: New York state to shine. I mean, and you know 50 00:02:53,440 --> 00:02:56,200 Speaker 1: the guy that New York Racing Association put on a 51 00:02:56,240 --> 00:02:59,600 Speaker 1: great card of other races as well. The Balmont, the 52 00:02:59,720 --> 00:03:03,280 Speaker 1: keep it. They're giving away many many millions tomorrow. It's 53 00:03:03,280 --> 00:03:07,720 Speaker 1: a huge day. So uh, let's go to you, Gary Addle, 54 00:03:07,840 --> 00:03:10,080 Speaker 1: because as someone who you you follow this sport for 55 00:03:10,120 --> 00:03:12,079 Speaker 1: so long and you're not just someone who likes to 56 00:03:12,120 --> 00:03:14,400 Speaker 1: bed on horses. You're someone who's been really actively involved 57 00:03:14,440 --> 00:03:17,840 Speaker 1: and you're really passionate about it as you look at it. 58 00:03:18,520 --> 00:03:20,440 Speaker 1: You know, when you look at the Breeders Cup, when 59 00:03:20,480 --> 00:03:23,040 Speaker 1: you look at the Derby, when you look at Belmont, 60 00:03:23,440 --> 00:03:25,560 Speaker 1: how do they stack up? Well, you want to know something. 61 00:03:25,600 --> 00:03:27,080 Speaker 1: You know, I was looking at the card today and 62 00:03:27,120 --> 00:03:29,600 Speaker 1: you can see I am so enthusiastic about tomorrow. I'm 63 00:03:29,639 --> 00:03:32,440 Speaker 1: jumping out of my seat right now. So, Peter, happy 64 00:03:32,600 --> 00:03:36,600 Speaker 1: Belmont Steaks Eve and you know, next to the Breeders Cup, 65 00:03:36,680 --> 00:03:39,400 Speaker 1: this is uh, you know, probably the best racing card 66 00:03:39,520 --> 00:03:42,480 Speaker 1: that I've seen. I was doing some handicap and cost 67 00:03:42,560 --> 00:03:44,680 Speaker 1: wasn't doing the handicap and at work was doing it 68 00:03:44,760 --> 00:03:48,280 Speaker 1: the night. We need that, we assume that. But Peter, 69 00:03:48,520 --> 00:03:54,400 Speaker 1: what makes a great racing card? Well, it's it's full field. 70 00:03:54,640 --> 00:03:58,440 Speaker 1: You know, many horses running, uh in each race, of 71 00:03:58,560 --> 00:04:02,040 Speaker 1: just top quality horses, you know, horses that have run 72 00:04:02,480 --> 00:04:05,840 Speaker 1: in Grade one races. It's just like um, you know 73 00:04:05,960 --> 00:04:09,240 Speaker 1: other athletic events. You know, there's this different levels of 74 00:04:09,280 --> 00:04:12,760 Speaker 1: competition and the Grade one is the best and there 75 00:04:12,760 --> 00:04:16,279 Speaker 1: are I think five Grade ones tomorrow on the car 76 00:04:16,400 --> 00:04:18,880 Speaker 1: So it's the best of the best. And it kicks 77 00:04:18,920 --> 00:04:22,520 Speaker 1: off basically the second season as it leads to the 78 00:04:22,520 --> 00:04:26,640 Speaker 1: Breeders Cup in November. So Belmont Stakes today is literally 79 00:04:26,680 --> 00:04:29,400 Speaker 1: the kick off to the second season. Who are you 80 00:04:29,440 --> 00:04:32,880 Speaker 1: betting on, Peter? How are you handicapping this race? You know? 81 00:04:32,920 --> 00:04:34,840 Speaker 1: The Belmont is my dad. I got Eve from Credit. 82 00:04:34,880 --> 00:04:36,159 Speaker 1: You know. He's we call him the King of the 83 00:04:36,160 --> 00:04:41,400 Speaker 1: Belmont because he's had four huge price horses win over 84 00:04:41,400 --> 00:04:43,320 Speaker 1: the last ten years. And I'm talking huge, like I 85 00:04:43,360 --> 00:04:45,719 Speaker 1: paid a hundred and forty dollars to win on a 86 00:04:45,760 --> 00:04:48,039 Speaker 1: two dollar bet back a couple of years ago, and 87 00:04:48,080 --> 00:04:51,040 Speaker 1: he had another horse, okayed sixty. So it's funny. I 88 00:04:51,120 --> 00:04:53,240 Speaker 1: look at the race. I try to put his lens 89 00:04:53,320 --> 00:04:54,680 Speaker 1: on when I look at it because he has a 90 00:04:54,760 --> 00:04:56,920 Speaker 1: knack for picking the Belmont. And I ran into him 91 00:04:56,920 --> 00:04:58,880 Speaker 1: this morning here at Belmont and I said, I I 92 00:04:59,000 --> 00:05:01,599 Speaker 1: know who you picked. I don't even and we literally 93 00:05:01,600 --> 00:05:03,839 Speaker 1: didn't even have to talk about it. And that's because 94 00:05:03,880 --> 00:05:06,039 Speaker 1: I know exactly and I see it like he does 95 00:05:06,080 --> 00:05:09,920 Speaker 1: as well. And that's number one. Governor Malibu. Uh, there's 96 00:05:09,920 --> 00:05:12,480 Speaker 1: a race called the Peter pan Uh, believe it or not, 97 00:05:12,680 --> 00:05:14,719 Speaker 1: and it's run at Belmont a couple of weeks, a 98 00:05:14,720 --> 00:05:16,720 Speaker 1: couple of weeks before the Belmont, and it's a good 99 00:05:16,760 --> 00:05:19,080 Speaker 1: prep race for the horses to run the mile and 100 00:05:19,120 --> 00:05:22,200 Speaker 1: a half distance. And he ran really well. He just 101 00:05:22,279 --> 00:05:25,599 Speaker 1: got beat. And this is his third race office he 102 00:05:25,640 --> 00:05:28,120 Speaker 1: had a little layoff and this is his third race back. 103 00:05:28,200 --> 00:05:30,200 Speaker 1: He'll be sitting a perfect trip. And I think you're 104 00:05:30,200 --> 00:05:32,640 Speaker 1: gonna get probably ten twelve to one on them. So 105 00:05:32,839 --> 00:05:36,479 Speaker 1: Governor Malibu, me, Dad, and even lead team Rotunda, we're all. 106 00:05:36,480 --> 00:05:39,080 Speaker 1: We're all on them, which can rarely happens. They all 107 00:05:39,120 --> 00:05:42,440 Speaker 1: pick the same horse team Rotundo. Uh and Gary, you 108 00:05:42,520 --> 00:05:44,880 Speaker 1: like to compare. And so you're working at Bloomberg LP 109 00:05:45,120 --> 00:05:47,960 Speaker 1: and being into horse racing. You see these analogies. And 110 00:05:47,960 --> 00:05:51,480 Speaker 1: of course Peter's dad traded for an exchange right his 111 00:05:51,600 --> 00:05:55,720 Speaker 1: partner gree So you you, Gary, often make you show 112 00:05:55,800 --> 00:05:58,920 Speaker 1: us the connections we need horse racing and financial markets. 113 00:05:59,080 --> 00:06:01,480 Speaker 1: Well you know what it's It's all about data and 114 00:06:01,560 --> 00:06:04,800 Speaker 1: probably horse racing has the most data behind it than 115 00:06:04,880 --> 00:06:07,920 Speaker 1: any other sport out there. And Uh, I know with 116 00:06:08,040 --> 00:06:10,320 Speaker 1: Peter and I had the opportunity a couple of days 117 00:06:10,360 --> 00:06:13,599 Speaker 1: ago to look at a new platform that is being 118 00:06:13,640 --> 00:06:17,039 Speaker 1: developed that is really going to take racing and analytics 119 00:06:17,040 --> 00:06:19,599 Speaker 1: and data to the next level. But you know, Peter, 120 00:06:19,720 --> 00:06:21,920 Speaker 1: since uh you know, your dad and Lee were on 121 00:06:22,000 --> 00:06:25,640 Speaker 1: Morgan Spurlock Show Inside Man, what are they too too 122 00:06:25,640 --> 00:06:28,200 Speaker 1: good for us now to come on the air. Yeah, 123 00:06:28,240 --> 00:06:30,920 Speaker 1: you know, I mean they walk around Belmont like celebrities. Now. 124 00:06:31,560 --> 00:06:33,680 Speaker 1: It's like literally their head can't sit in the door 125 00:06:33,760 --> 00:06:36,880 Speaker 1: here Belmont. It's it's hard for them. Um. I think 126 00:06:36,920 --> 00:06:38,680 Speaker 1: you know, you know, the guys, they're better in person. 127 00:06:38,720 --> 00:06:41,600 Speaker 1: On the radio, they could get a little uh, they 128 00:06:41,640 --> 00:06:47,559 Speaker 1: get a little well. What I what I found funny 129 00:06:47,560 --> 00:06:50,320 Speaker 1: about it was that first off, they doubled the guy's money. 130 00:06:50,440 --> 00:06:52,359 Speaker 1: He had a thousand dollars, they whacked it up to 131 00:06:52,680 --> 00:06:55,480 Speaker 1: two thousand dollars and more. Goan to say, you know what, 132 00:06:55,600 --> 00:06:58,040 Speaker 1: this is the most fun I've ever had in any 133 00:06:58,080 --> 00:07:01,080 Speaker 1: type of gambling. These guys are the real deal. So 134 00:07:01,240 --> 00:07:04,240 Speaker 1: congratulations to team Rotondo. Peter. Really quickly here, if I 135 00:07:04,240 --> 00:07:07,039 Speaker 1: want to learn more about handicapping and the math and 136 00:07:07,040 --> 00:07:08,960 Speaker 1: all that, what's the one thing you recommend a person 137 00:07:08,960 --> 00:07:12,560 Speaker 1: to do. Uh? Well, And the first thing I think, 138 00:07:12,560 --> 00:07:15,640 Speaker 1: you just go you find someone that knows what they're 139 00:07:15,640 --> 00:07:17,760 Speaker 1: talking about. You know and have them teach you how 140 00:07:17,800 --> 00:07:20,440 Speaker 1: to read the racing form, the daily racing form. Um. 141 00:07:20,480 --> 00:07:23,000 Speaker 1: I think that's the most important thing, uh is how 142 00:07:23,040 --> 00:07:25,800 Speaker 1: to read the past performances. Okay, just like other data. 143 00:07:25,840 --> 00:07:28,280 Speaker 1: So um, that's the number one. And have a good 144 00:07:28,560 --> 00:07:31,080 Speaker 1: have a good weekend. Oh well, with the Belma coming up, 145 00:07:31,080 --> 00:07:33,080 Speaker 1: how could we not. Peter Rotunda Jr. Thank you so 146 00:07:33,160 --> 00:07:35,960 Speaker 1: much for joining as Vice president Media Entertainment. The Breeders 147 00:07:36,000 --> 00:07:39,320 Speaker 1: Cup in New York City, gariett Ol Bloomberg LP, Horse 148 00:07:39,440 --> 00:07:44,040 Speaker 1: Racing Aficionado Tournament, Better and more. This is Bloomberg Radio. 149 00:07:48,760 --> 00:07:53,080 Speaker 1: James Stone five Easy Theces, a new book about common, 150 00:07:53,120 --> 00:07:57,280 Speaker 1: self sense solutions to America's greatest economic challenges. That's coming 151 00:07:57,360 --> 00:07:58,880 Speaker 1: up now on Bloomberg Radio.