1 00:00:00,040 --> 00:00:06,000 Speaker 1: Council Global Business News twenty four hours a day at 2 00:00:06,000 --> 00:00:09,039 Speaker 1: Bloomberg dot com, the radio plus mobile LAP and on 3 00:00:09,080 --> 00:00:13,000 Speaker 1: your radio. This is a Bloomberg Business flag from Bloomberg 4 00:00:13,039 --> 00:00:16,439 Speaker 1: World Handquarters. I'm Charlie Pellet. Stocks moved higher, S and 5 00:00:16,520 --> 00:00:20,200 Speaker 1: P five hundred index, capping a fifth monthly gain. S 6 00:00:20,239 --> 00:00:22,959 Speaker 1: and P five hundred Index up today by two tenths 7 00:00:23,000 --> 00:00:26,119 Speaker 1: of one percent, higher by three points to one seventy three. 8 00:00:26,480 --> 00:00:30,280 Speaker 1: Nestak also moving higher, up seven to fifty one sixty two, 9 00:00:30,280 --> 00:00:32,360 Speaker 1: a gain there of one tenth of one percent, but 10 00:00:32,440 --> 00:00:34,920 Speaker 1: a losing day for the Dow Jones Industrial Average down 11 00:00:34,960 --> 00:00:38,320 Speaker 1: twenty four points to eighteen thousand, four hundred thirty two. 12 00:00:38,360 --> 00:00:40,479 Speaker 1: That was a drop of one tenth of one percent 13 00:00:40,880 --> 00:00:43,400 Speaker 1: ten year of fourteen thirty seconds. Looking at the yield 14 00:00:43,400 --> 00:00:46,920 Speaker 1: of one point four or five percent, Gold advancing seventeen 15 00:00:47,000 --> 00:00:49,600 Speaker 1: forty v ounce to thirteen forty nine, a gain there 16 00:00:49,600 --> 00:00:52,880 Speaker 1: of one point three percent, and crude oil West Texas 17 00:00:52,960 --> 00:00:56,600 Speaker 1: Intermediate up thirty four cents of barrel forty eight, again 18 00:00:56,640 --> 00:00:59,720 Speaker 1: there of eight tenths of one percent. I'm Charlie Pellett, 19 00:00:59,800 --> 00:01:05,840 Speaker 1: and that's a Bloombird business flash. This is taking start 20 00:01:06,080 --> 00:01:09,559 Speaker 1: with Bim Box and Kathleen Hayes on bloom Bird Radio. 21 00:01:10,160 --> 00:01:13,119 Speaker 1: The world of a horse racing has a big race 22 00:01:13,240 --> 00:01:16,720 Speaker 1: this Sunday at Monmouth Park in southern New Jersey, the 23 00:01:16,800 --> 00:01:21,200 Speaker 1: Haskell Invitational. It's a one million dollar race and the 24 00:01:21,440 --> 00:01:25,240 Speaker 1: entrance of a well a three year old cult named 25 00:01:25,280 --> 00:01:28,760 Speaker 1: Exaggerator is turning the race into one of the biggest 26 00:01:28,800 --> 00:01:31,920 Speaker 1: of the year. It's going to take on rival Nyquist 27 00:01:32,000 --> 00:01:35,520 Speaker 1: as well as as the Kentucky Derby Dinner winner. And 28 00:01:35,800 --> 00:01:37,920 Speaker 1: we know that niqu was placed third in the Preakness 29 00:01:37,959 --> 00:01:40,720 Speaker 1: and won four out of the five meetings with Exaggerator. 30 00:01:40,800 --> 00:01:44,280 Speaker 1: Here to tell us more about this is our own 31 00:01:44,440 --> 00:01:49,880 Speaker 1: Bloomberg's racing enthusiast, Gary Edel, and also professional handicappers Peter 32 00:01:50,200 --> 00:01:54,880 Speaker 1: Rotondo and Lee Davis from Team Rodondo. Thanks very much 33 00:01:54,880 --> 00:01:56,520 Speaker 1: for being with us. Peter, I wonder if you could 34 00:01:56,600 --> 00:02:00,880 Speaker 1: just describe for us this entrance of Aggerator into the 35 00:02:00,960 --> 00:02:04,000 Speaker 1: race on on Sunday. What is that that doing to 36 00:02:04,120 --> 00:02:08,400 Speaker 1: your your handicapping? Well? Exaggerator, he was he's been working 37 00:02:08,400 --> 00:02:11,720 Speaker 1: out training at Saratoga and uh I was there last 38 00:02:11,760 --> 00:02:14,600 Speaker 1: week and to be quite frankly, his last work wasn't 39 00:02:14,639 --> 00:02:16,600 Speaker 1: that good. So I was thinking that he was going 40 00:02:16,639 --> 00:02:19,480 Speaker 1: to skip the high SkELL but no, one, behold, he's 41 00:02:19,520 --> 00:02:22,080 Speaker 1: in it. And there's a lot of forces that have 42 00:02:22,560 --> 00:02:24,960 Speaker 1: you know, have will be foldedly placed in. This race 43 00:02:25,080 --> 00:02:28,040 Speaker 1: is a field of six and one through five. Night 44 00:02:28,200 --> 00:02:30,880 Speaker 1: was down to American Freedom. They were all gonna be 45 00:02:31,160 --> 00:02:34,160 Speaker 1: close to the pace an Exaggerator, I imagine we'll be 46 00:02:34,240 --> 00:02:37,160 Speaker 1: laying back and if the pace is fast enough, he'll 47 00:02:37,240 --> 00:02:40,680 Speaker 1: becoming late with his late usual charge and maybe pick 48 00:02:40,720 --> 00:02:43,519 Speaker 1: up the pieces. But keep in mind, MoMA Park is 49 00:02:43,560 --> 00:02:46,760 Speaker 1: a type of race track that usually favors front and 50 00:02:46,840 --> 00:02:50,320 Speaker 1: runners or stalker is. But having said that, not the 51 00:02:50,400 --> 00:02:53,400 Speaker 1: head but Exaggerator loves it wet and there is some 52 00:02:53,639 --> 00:02:56,640 Speaker 1: rain in the forecast for Sunday, so it should be 53 00:02:56,680 --> 00:02:59,560 Speaker 1: a very interesting day at the races that Mamma for 54 00:02:59,720 --> 00:03:04,800 Speaker 1: the high Alright. I know nothing about horse racing, nothing 55 00:03:04,800 --> 00:03:08,440 Speaker 1: at all, um. I find it fascinating to watch, you know, 56 00:03:08,520 --> 00:03:11,840 Speaker 1: the the Rays of Asket or the Grand National, or 57 00:03:11,840 --> 00:03:14,360 Speaker 1: I'll watch some of the trivil Crown here in the US. 58 00:03:14,440 --> 00:03:17,960 Speaker 1: But beyond that, Gary, how much does the horse have 59 00:03:18,160 --> 00:03:20,120 Speaker 1: to do with it? And how much does the jockey 60 00:03:20,200 --> 00:03:22,200 Speaker 1: have to do with it. I mean, is the jockey 61 00:03:22,280 --> 00:03:24,760 Speaker 1: just basically sitting there or does he actually play an 62 00:03:24,760 --> 00:03:27,600 Speaker 1: important role? You know what? The it really is all 63 00:03:27,600 --> 00:03:30,040 Speaker 1: about the horse and the conditioning. About the horse and 64 00:03:30,080 --> 00:03:32,919 Speaker 1: a jockey. You don't want to really downplay it. They 65 00:03:32,919 --> 00:03:35,480 Speaker 1: are pretty much just along for the ride. But you 66 00:03:35,520 --> 00:03:39,240 Speaker 1: do have certain jockeys that fit certain horses. For instance, 67 00:03:39,240 --> 00:03:43,720 Speaker 1: Mike Smith guy is fantastic on nursing speed in the front, 68 00:03:44,000 --> 00:03:45,800 Speaker 1: which means is that if you have a horse that 69 00:03:45,840 --> 00:03:48,400 Speaker 1: likes to go to the lead. Again, racing is made 70 00:03:48,440 --> 00:03:51,200 Speaker 1: up of pay scenarios, just like humans. You have you 71 00:03:51,240 --> 00:03:52,680 Speaker 1: have horses that like to go to the lead, you 72 00:03:52,720 --> 00:03:55,080 Speaker 1: have horses that like to lay back off the lead, 73 00:03:55,120 --> 00:03:58,400 Speaker 1: you have closers. So Mike Smith has a fantastic way 74 00:03:58,480 --> 00:04:00,920 Speaker 1: of gauging pace. So what he could do is he 75 00:04:00,920 --> 00:04:03,880 Speaker 1: could go out with a horse that's a speedball and 76 00:04:03,920 --> 00:04:06,360 Speaker 1: he could just slow the race down and then when 77 00:04:06,400 --> 00:04:08,240 Speaker 1: everyone tries to come and catch him, he still has 78 00:04:08,280 --> 00:04:10,480 Speaker 1: a lot of horse left and he'll just think, the 79 00:04:10,560 --> 00:04:12,440 Speaker 1: horse know how long the race is? Is that know 80 00:04:12,480 --> 00:04:14,360 Speaker 1: when the finish line is coming? You know, it's all 81 00:04:14,400 --> 00:04:17,440 Speaker 1: about conditioning and uh, they have a good sense for it. 82 00:04:17,560 --> 00:04:20,160 Speaker 1: They the jockeys have certain hands singles that they'll give 83 00:04:20,200 --> 00:04:22,640 Speaker 1: them and when they hold the reins. But I think 84 00:04:22,640 --> 00:04:25,440 Speaker 1: they'll probably Peter or actually Lee probably could be a 85 00:04:25,480 --> 00:04:28,440 Speaker 1: little bit better in explaining about the importance of a 86 00:04:28,520 --> 00:04:33,159 Speaker 1: jockey ahead Lee Davis. Well, I'll tell you the truth. 87 00:04:33,240 --> 00:04:37,039 Speaker 1: I agree with Gary mostly the horse. But um, if 88 00:04:37,080 --> 00:04:39,520 Speaker 1: you have a good jockey, that other I guess it's 89 00:04:39,640 --> 00:04:42,960 Speaker 1: nine percent horse and tampa cent jockey. But if you 90 00:04:43,040 --> 00:04:45,600 Speaker 1: don't have a real good jockey, you only have n 91 00:04:46,279 --> 00:04:48,240 Speaker 1: and you lose that other tempa tent. So if you 92 00:04:48,320 --> 00:04:50,880 Speaker 1: have a good a good jockey on him, that tempa 93 00:04:50,960 --> 00:04:54,960 Speaker 1: cent comes in handy in a tight situation when you 94 00:04:55,000 --> 00:04:57,240 Speaker 1: have to make a decision, it's easy when you have 95 00:04:57,279 --> 00:04:59,040 Speaker 1: a horse is a speed horse and he goes to 96 00:04:59,160 --> 00:05:01,320 Speaker 1: lead and nobody changed some gonny run drop. I could 97 00:05:01,520 --> 00:05:03,159 Speaker 1: be on the US even though I'm way over to 98 00:05:03,160 --> 00:05:05,560 Speaker 1: one of fifty pounds. Um, but you know what I mean. 99 00:05:06,800 --> 00:05:09,320 Speaker 1: It's in a tight situation when you're you know, a 100 00:05:09,360 --> 00:05:13,679 Speaker 1: good jockey is a good handicap. This is why I'm wondering, 101 00:05:13,680 --> 00:05:15,800 Speaker 1: because we always talk we're talking about exaggerate, We're talking 102 00:05:15,800 --> 00:05:20,400 Speaker 1: about Nyquist and nobody ever says, hey, this jockey is amazing. Um, 103 00:05:20,600 --> 00:05:23,520 Speaker 1: they don't seem to be as famous. I mean, Peter, 104 00:05:23,600 --> 00:05:26,920 Speaker 1: do you think about the jockey when you're handicapping who's 105 00:05:26,920 --> 00:05:32,000 Speaker 1: gonna win, who's gonna lose? Very very small about a 106 00:05:32,040 --> 00:05:35,279 Speaker 1: small amount. I I think about the horse and and 107 00:05:35,320 --> 00:05:37,560 Speaker 1: the pace of the race. You know, it's just it's 108 00:05:37,760 --> 00:05:40,560 Speaker 1: it's actolutely It's really simple. If there are a lot 109 00:05:40,560 --> 00:05:43,160 Speaker 1: of fun runners better us that comes from the back, 110 00:05:43,520 --> 00:05:47,440 Speaker 1: If the pace is gonna be uh you know, uh fast. 111 00:05:47,720 --> 00:05:50,599 Speaker 1: Like I said, the closes come in and vice versa. 112 00:05:50,800 --> 00:05:54,039 Speaker 1: If there's just one speed hors he could dictate a 113 00:05:54,160 --> 00:05:57,320 Speaker 1: pace and probably could just march around the racetrack. So 114 00:05:57,360 --> 00:05:59,200 Speaker 1: the jackie, you know, when it comes down to that 115 00:05:59,279 --> 00:06:02,640 Speaker 1: photo finished at the end, maybe the jockey, uh you know, 116 00:06:02,720 --> 00:06:05,640 Speaker 1: the better jockey may get the nod over the less 117 00:06:05,680 --> 00:06:09,360 Speaker 1: experienced one. But everyone that's in these graded races, all 118 00:06:09,400 --> 00:06:12,680 Speaker 1: these jockeys that lunch, whether it be at Sarahtolga at 119 00:06:12,920 --> 00:06:15,720 Speaker 1: you know with the you know the great races they 120 00:06:15,720 --> 00:06:17,839 Speaker 1: have there, or at mom it's for the high school, 121 00:06:18,040 --> 00:06:20,360 Speaker 1: or at del maw the Pacific Classics. They were all 122 00:06:20,440 --> 00:06:23,240 Speaker 1: top knots jockeys. You know, you could just uh, it's 123 00:06:23,240 --> 00:06:26,040 Speaker 1: a hairline track, you know, hairline between all of them 124 00:06:26,120 --> 00:06:28,560 Speaker 1: among old Karen, I want to just bring in the 125 00:06:28,640 --> 00:06:32,039 Speaker 1: topic of the bet Fair exchange and you describe this 126 00:06:32,120 --> 00:06:37,159 Speaker 1: as Wall Street meets handicapping, Explain what is bet fair exchange? 127 00:06:37,440 --> 00:06:39,480 Speaker 1: Once again, I'm going to turn this over to Peter 128 00:06:39,560 --> 00:06:43,159 Speaker 1: and Lee, who are contractors now with bet Fair. But 129 00:06:44,200 --> 00:06:46,279 Speaker 1: this is gonna be unbelievable. This is going to be 130 00:06:46,320 --> 00:06:48,320 Speaker 1: the new I don't want to say gay trading, but 131 00:06:48,400 --> 00:06:51,320 Speaker 1: this is going to bring Wall Street into the art 132 00:06:51,400 --> 00:06:53,560 Speaker 1: of wager and so Peter and Lee, I'm gonna just 133 00:06:53,600 --> 00:06:55,920 Speaker 1: turn it over to you guys. All right, Well that's 134 00:06:55,960 --> 00:06:58,440 Speaker 1: fair Exchange, first of all, is one of the world's 135 00:06:58,480 --> 00:07:03,000 Speaker 1: greatest international on line gaming providers. Now, what does exchange wagering? 136 00:07:03,240 --> 00:07:08,240 Speaker 1: It utilizes cutting edge technology to allow players to propose 137 00:07:08,640 --> 00:07:11,960 Speaker 1: or match anonymous phrase with each other. Now, the key 138 00:07:12,040 --> 00:07:16,200 Speaker 1: speatures of exchange wagering. They include great value odds you 139 00:07:16,320 --> 00:07:19,040 Speaker 1: always look for great value when you're betting. And two 140 00:07:19,080 --> 00:07:21,120 Speaker 1: you could even wage you during the actual running of 141 00:07:21,160 --> 00:07:23,960 Speaker 1: the race. You could bet will back a horse at 142 00:07:24,120 --> 00:07:27,680 Speaker 1: a specific odds odds and those odds will be locked 143 00:07:27,680 --> 00:07:30,480 Speaker 1: in as opposed to power mutual wagers. You can bet 144 00:07:30,520 --> 00:07:32,360 Speaker 1: a horse at eight for one with ten minutes ago, 145 00:07:32,560 --> 00:07:35,760 Speaker 1: So we gotta we gotta run Peter Rotondo, League Davis, 146 00:07:35,760 --> 00:07:40,840 Speaker 1: Team Rotondo, Gariette Bloomberg Race the enthusiast. This is Bloomberg 147 00:07:45,760 --> 00:07:49,960 Speaker 1: coming up on on Bloomberg Bloomberg Law. An unusual decision 148 00:07:50,000 --> 00:07:52,880 Speaker 1: the Ninth Circuit Court of Appeals telling the California's Supreme 149 00:07:52,920 --> 00:07:55,080 Speaker 1: Court it needs to do a better job of explaining 150 00:07:55,160 --> 00:07:58,840 Speaker 1: why it's dismissing a prisoner's challenge to being detained.