Speaker 1: Global business news twenty four hours a day at Bloomberg
Speaker 1: dot com, the radio, plus mobile, lapt and on your radio.
Speaker 1: This is a Bloomberg Business Flash from Bloomberg World Headquarters.
Speaker 1: I'm Charlie Pelloup. The Dow, the SMP, NEZ DAK are
Speaker 1: all moving lower. SMP five hundred index heading four, the
Speaker 1: steepest drop in two months, amid caution over tepid global
Speaker 1: growth and a series of looming events with the potential
Speaker 1: to spur renewed market turbulence. Right now, we've got the
Speaker 1: SMP down twenty five points, dropped there of one point
Speaker 1: two percent, the SMP five hundred index at two thousand,
Speaker 1: ninety eight down, Industrials down a hundred and sixty nine points,
Speaker 1: down nine tenths of one percent to seventeen thousand, eight
Speaker 1: hundred fifteen ns stack down seventy two points, a drop
Speaker 1: of one and a half percent the ten year of
Speaker 1: fourteen thirty seconds. Zeal there one point six three percent,
Speaker 1: Gold up five ten the ounce to twelve seventy seven.
Speaker 1: That is a gain a four tenths of one percent.
Speaker 1: And we've got crude oil West Texas Intermediate down at
Speaker 1: dollars sixty six Arrow eighty nine right now on West
Speaker 1: Texas Intermediate back below forty nine dollars. It is down
Speaker 1: three point three percent. I'm Charlie Public and that's a
Speaker 1: Bloomberg Business flash. This is taking stock with Kathleen Hayes
Speaker 1: and Pim Fox on Bloomberg Radio. The test of champions,
Speaker 1: and that's what the Belmont Stakes is often called. It
Speaker 1: certainly attracts great horses, a great day of horse racing. Uh.
Speaker 1: But of course, prior to this year's Preakness, many people
Speaker 1: were hoping that the Belmont Stakes would be the pursuit
Speaker 1: of another triple crown. But when runner up Kentucky Derby
Speaker 1: Finish your Exaggerator splashed his way past Derby Champ Nyquist
Speaker 1: over that sloppy Pimlico track, the subject of back to
Speaker 1: back triple crowns was quickly put to an end. But
Speaker 1: that does not diminish the importance or the excitement of
Speaker 1: this race. He's back Peter Rotondo Jr. He's as President
Speaker 1: of Media and Entertainment at the Breeders Cup. He's based
Speaker 1: in New York. Joining me in studio is Gary Edel.
Speaker 1: He's an analyst at Bloomberg LP. He's also a horse
Speaker 1: racing owner. He's a tournament player, he's been involved in
Speaker 1: horse racing for many, many years, and he's always a big,
Speaker 1: big promoter of getting this this, uh, this sport on
Speaker 1: the air. So I welcome you both. Peter. Let's start
Speaker 1: with you explain to our listeners why the Belmont Stakes
Speaker 1: is so important to horse racing. Well, the Belmont, I mean,
Speaker 1: you know, it's the third leg of the Triple Crown.
Speaker 1: It's New york biggest race by far, and obviously if
Speaker 1: it's anything in New York, it's amplified, um as we know.
Speaker 1: So you know there'll be about seventy thousand people here
Speaker 1: and probably tomorrow. Last year it was ninety thousand for
Speaker 1: the Triple Crown, the American parall Win, and it's basically
Speaker 1: New York state to shine. I mean, and you know
Speaker 1: the guy that New York Racing Association put on a
Speaker 1: great card of other races as well. The Balmont, the
Speaker 1: keep it. They're giving away many many millions tomorrow. It's
Speaker 1: a huge day. So uh, let's go to you, Gary Addle,
Speaker 1: because as someone who you you follow this sport for
Speaker 1: so long and you're not just someone who likes to
Speaker 1: bed on horses. You're someone who's been really actively involved
Speaker 1: and you're really passionate about it as you look at it.
Speaker 1: You know, when you look at the Breeders Cup, when
Speaker 1: you look at the Derby, when you look at Belmont,
Speaker 1: how do they stack up? Well, you want to know something.
Speaker 1: You know, I was looking at the card today and
Speaker 1: you can see I am so enthusiastic about tomorrow. I'm
Speaker 1: jumping out of my seat right now. So, Peter, happy
Speaker 1: Belmont Steaks Eve and you know, next to the Breeders Cup,
Speaker 1: this is uh, you know, probably the best racing card
Speaker 1: that I've seen. I was doing some handicap and cost
Speaker 1: wasn't doing the handicap and at work was doing it
Speaker 1: the night. We need that, we assume that. But Peter,
Speaker 1: what makes a great racing card? Well, it's it's full field.
Speaker 1: You know, many horses running, uh in each race, of
Speaker 1: just top quality horses, you know, horses that have run
Speaker 1: in Grade one races. It's just like um, you know
Speaker 1: other athletic events. You know, there's this different levels of
Speaker 1: competition and the Grade one is the best and there
Speaker 1: are I think five Grade ones tomorrow on the car
Speaker 1: So it's the best of the best. And it kicks
Speaker 1: off basically the second season as it leads to the
Speaker 1: Breeders Cup in November. So Belmont Stakes today is literally
Speaker 1: the kick off to the second season. Who are you
Speaker 1: betting on, Peter? How are you handicapping this race? You know?
Speaker 1: The Belmont is my dad. I got Eve from Credit.
Speaker 1: You know. He's we call him the King of the
Speaker 1: Belmont because he's had four huge price horses win over
Speaker 1: the last ten years. And I'm talking huge, like I
Speaker 1: paid a hundred and forty dollars to win on a
Speaker 1: two dollar bet back a couple of years ago, and
Speaker 1: he had another horse, okayed sixty. So it's funny. I
Speaker 1: look at the race. I try to put his lens
Speaker 1: on when I look at it because he has a
Speaker 1: knack for picking the Belmont. And I ran into him
Speaker 1: this morning here at Belmont and I said, I I
Speaker 1: know who you picked. I don't even and we literally
Speaker 1: didn't even have to talk about it. And that's because
Speaker 1: I know exactly and I see it like he does
Speaker 1: as well. And that's number one. Governor Malibu. Uh, there's
Speaker 1: a race called the Peter pan Uh, believe it or not,
Speaker 1: and it's run at Belmont a couple of weeks, a
Speaker 1: couple of weeks before the Belmont, and it's a good
Speaker 1: prep race for the horses to run the mile and
Speaker 1: a half distance. And he ran really well. He just
Speaker 1: got beat. And this is his third race office he
Speaker 1: had a little layoff and this is his third race back.
Speaker 1: He'll be sitting a perfect trip. And I think you're
Speaker 1: gonna get probably ten twelve to one on them. So
Speaker 1: Governor Malibu, me, Dad, and even lead team Rotunda, we're all.
Speaker 1: We're all on them, which can rarely happens. They all
Speaker 1: pick the same horse team Rotundo. Uh and Gary, you
Speaker 1: like to compare. And so you're working at Bloomberg LP
Speaker 1: and being into horse racing. You see these analogies. And
Speaker 1: of course Peter's dad traded for an exchange right his
Speaker 1: partner gree So you you, Gary, often make you show
Speaker 1: us the connections we need horse racing and financial markets.
Speaker 1: Well you know what it's It's all about data and
Speaker 1: probably horse racing has the most data behind it than
Speaker 1: any other sport out there. And Uh, I know with
Speaker 1: Peter and I had the opportunity a couple of days
Speaker 1: ago to look at a new platform that is being
Speaker 1: developed that is really going to take racing and analytics
Speaker 1: and data to the next level. But you know, Peter,
Speaker 1: since uh you know, your dad and Lee were on
Speaker 1: Morgan Spurlock Show Inside Man, what are they too too
Speaker 1: good for us now to come on the air. Yeah,
Speaker 1: you know, I mean they walk around Belmont like celebrities. Now.
Speaker 1: It's like literally their head can't sit in the door
Speaker 1: here Belmont. It's it's hard for them. Um. I think
Speaker 1: you know, you know, the guys, they're better in person.
Speaker 1: On the radio, they could get a little uh, they
Speaker 1: get a little well. What I what I found funny
Speaker 1: about it was that first off, they doubled the guy's money.
Speaker 1: He had a thousand dollars, they whacked it up to
Speaker 1: two thousand dollars and more. Goan to say, you know what,
Speaker 1: this is the most fun I've ever had in any
Speaker 1: type of gambling. These guys are the real deal. So
Speaker 1: congratulations to team Rotondo. Peter. Really quickly here, if I
Speaker 1: want to learn more about handicapping and the math and
Speaker 1: all that, what's the one thing you recommend a person
Speaker 1: to do. Uh? Well, And the first thing I think,
Speaker 1: you just go you find someone that knows what they're
Speaker 1: talking about. You know and have them teach you how
Speaker 1: to read the racing form, the daily racing form. Um.
Speaker 1: I think that's the most important thing, uh is how
Speaker 1: to read the past performances. Okay, just like other data.
Speaker 1: So um, that's the number one. And have a good
Speaker 1: have a good weekend. Oh well, with the Belma coming up,
Speaker 1: how could we not. Peter Rotunda Jr. Thank you so
Speaker 1: much for joining as Vice president Media Entertainment. The Breeders
Speaker 1: Cup in New York City, gariett Ol Bloomberg LP, Horse
Speaker 1: Racing Aficionado Tournament, Better and more. This is Bloomberg Radio.
Speaker 1: James Stone five Easy Theces, a new book about common,
Speaker 1: self sense solutions to America's greatest economic challenges. That's coming
Speaker 1: up now on Bloomberg Radio.