Speaker 1: Council Global Business News twenty four hours a day at
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Speaker 1: World Handquarters. I'm Charlie Pellet. Stocks moved higher, S and
Speaker 1: P five hundred index, capping a fifth monthly gain. S
Speaker 1: and P five hundred Index up today by two tenths
Speaker 1: of one percent, higher by three points to one seventy three.
Speaker 1: Nestak also moving higher, up seven to fifty one sixty two,
Speaker 1: a gain there of one tenth of one percent, but
Speaker 1: a losing day for the Dow Jones Industrial Average down
Speaker 1: twenty four points to eighteen thousand, four hundred thirty two.
Speaker 1: That was a drop of one tenth of one percent
Speaker 1: ten year of fourteen thirty seconds. Looking at the yield
Speaker 1: of one point four or five percent, Gold advancing seventeen
Speaker 1: forty v ounce to thirteen forty nine, a gain there
Speaker 1: of one point three percent, and crude oil West Texas
Speaker 1: Intermediate up thirty four cents of barrel forty eight, again
Speaker 1: there of eight tenths of one percent. I'm Charlie Pellett,
Speaker 1: and that's a Bloombird business flash. This is taking start
Speaker 1: with Bim Box and Kathleen Hayes on bloom Bird Radio.
Speaker 1: The world of a horse racing has a big race
Speaker 1: this Sunday at Monmouth Park in southern New Jersey, the
Speaker 1: Haskell Invitational. It's a one million dollar race and the
Speaker 1: entrance of a well a three year old cult named
Speaker 1: Exaggerator is turning the race into one of the biggest
Speaker 1: of the year. It's going to take on rival Nyquist
Speaker 1: as well as as the Kentucky Derby Dinner winner. And
Speaker 1: we know that niqu was placed third in the Preakness
Speaker 1: and won four out of the five meetings with Exaggerator.
Speaker 1: Here to tell us more about this is our own
Speaker 1: Bloomberg's racing enthusiast, Gary Edel, and also professional handicappers Peter
Speaker 1: Rotondo and Lee Davis from Team Rodondo. Thanks very much
Speaker 1: for being with us. Peter, I wonder if you could
Speaker 1: just describe for us this entrance of Aggerator into the
Speaker 1: race on on Sunday. What is that that doing to
Speaker 1: your your handicapping? Well? Exaggerator, he was he's been working
Speaker 1: out training at Saratoga and uh I was there last
Speaker 1: week and to be quite frankly, his last work wasn't
Speaker 1: that good. So I was thinking that he was going
Speaker 1: to skip the high SkELL but no, one, behold, he's
Speaker 1: in it. And there's a lot of forces that have
Speaker 1: you know, have will be foldedly placed in. This race
Speaker 1: is a field of six and one through five. Night
Speaker 1: was down to American Freedom. They were all gonna be
Speaker 1: close to the pace an Exaggerator, I imagine we'll be
Speaker 1: laying back and if the pace is fast enough, he'll
Speaker 1: becoming late with his late usual charge and maybe pick
Speaker 1: up the pieces. But keep in mind, MoMA Park is
Speaker 1: a type of race track that usually favors front and
Speaker 1: runners or stalker is. But having said that, not the
Speaker 1: head but Exaggerator loves it wet and there is some
Speaker 1: rain in the forecast for Sunday, so it should be
Speaker 1: a very interesting day at the races that Mamma for
Speaker 1: the high Alright. I know nothing about horse racing, nothing
Speaker 1: at all, um. I find it fascinating to watch, you know,
Speaker 1: the the Rays of Asket or the Grand National, or
Speaker 1: I'll watch some of the trivil Crown here in the US.
Speaker 1: But beyond that, Gary, how much does the horse have
Speaker 1: to do with it? And how much does the jockey
Speaker 1: have to do with it. I mean, is the jockey
Speaker 1: just basically sitting there or does he actually play an
Speaker 1: important role? You know what? The it really is all
Speaker 1: about the horse and the conditioning. About the horse and
Speaker 1: a jockey. You don't want to really downplay it. They
Speaker 1: are pretty much just along for the ride. But you
Speaker 1: do have certain jockeys that fit certain horses. For instance,
Speaker 1: Mike Smith guy is fantastic on nursing speed in the front,
Speaker 1: which means is that if you have a horse that
Speaker 1: likes to go to the lead. Again, racing is made
Speaker 1: up of pay scenarios, just like humans. You have you
Speaker 1: have horses that like to go to the lead, you
Speaker 1: have horses that like to lay back off the lead,
Speaker 1: you have closers. So Mike Smith has a fantastic way
Speaker 1: of gauging pace. So what he could do is he
Speaker 1: could go out with a horse that's a speedball and
Speaker 1: he could just slow the race down and then when
Speaker 1: everyone tries to come and catch him, he still has
Speaker 1: a lot of horse left and he'll just think, the
Speaker 1: horse know how long the race is? Is that know
Speaker 1: when the finish line is coming? You know, it's all
Speaker 1: about conditioning and uh, they have a good sense for it.
Speaker 1: They the jockeys have certain hands singles that they'll give
Speaker 1: them and when they hold the reins. But I think
Speaker 1: they'll probably Peter or actually Lee probably could be a
Speaker 1: little bit better in explaining about the importance of a
Speaker 1: jockey ahead Lee Davis. Well, I'll tell you the truth.
Speaker 1: I agree with Gary mostly the horse. But um, if
Speaker 1: you have a good jockey, that other I guess it's
Speaker 1: nine percent horse and tampa cent jockey. But if you
Speaker 1: don't have a real good jockey, you only have n
Speaker 1: and you lose that other tempa tent. So if you
Speaker 1: have a good a good jockey on him, that tempa
Speaker 1: cent comes in handy in a tight situation when you
Speaker 1: have to make a decision, it's easy when you have
Speaker 1: a horse is a speed horse and he goes to
Speaker 1: lead and nobody changed some gonny run drop. I could
Speaker 1: be on the US even though I'm way over to
Speaker 1: one of fifty pounds. Um, but you know what I mean.
Speaker 1: It's in a tight situation when you're you know, a
Speaker 1: good jockey is a good handicap. This is why I'm wondering,
Speaker 1: because we always talk we're talking about exaggerate, We're talking
Speaker 1: about Nyquist and nobody ever says, hey, this jockey is amazing. Um,
Speaker 1: they don't seem to be as famous. I mean, Peter,
Speaker 1: do you think about the jockey when you're handicapping who's
Speaker 1: gonna win, who's gonna lose? Very very small about a
Speaker 1: small amount. I I think about the horse and and
Speaker 1: the pace of the race. You know, it's just it's
Speaker 1: it's actolutely It's really simple. If there are a lot
Speaker 1: of fun runners better us that comes from the back,
Speaker 1: If the pace is gonna be uh you know, uh fast.
Speaker 1: Like I said, the closes come in and vice versa.
Speaker 1: If there's just one speed hors he could dictate a
Speaker 1: pace and probably could just march around the racetrack. So
Speaker 1: the jackie, you know, when it comes down to that
Speaker 1: photo finished at the end, maybe the jockey, uh you know,
Speaker 1: the better jockey may get the nod over the less
Speaker 1: experienced one. But everyone that's in these graded races, all
Speaker 1: these jockeys that lunch, whether it be at Sarahtolga at
Speaker 1: you know with the you know the great races they
Speaker 1: have there, or at mom it's for the high school,
Speaker 1: or at del maw the Pacific Classics. They were all
Speaker 1: top knots jockeys. You know, you could just uh, it's
Speaker 1: a hairline track, you know, hairline between all of them
Speaker 1: among old Karen, I want to just bring in the
Speaker 1: topic of the bet Fair exchange and you describe this
Speaker 1: as Wall Street meets handicapping, Explain what is bet fair exchange?
Speaker 1: Once again, I'm going to turn this over to Peter
Speaker 1: and Lee, who are contractors now with bet Fair. But
Speaker 1: this is gonna be unbelievable. This is going to be
Speaker 1: the new I don't want to say gay trading, but
Speaker 1: this is going to bring Wall Street into the art
Speaker 1: of wager and so Peter and Lee, I'm gonna just
Speaker 1: turn it over to you guys. All right, Well that's
Speaker 1: fair Exchange, first of all, is one of the world's
Speaker 1: greatest international on line gaming providers. Now, what does exchange wagering?
Speaker 1: It utilizes cutting edge technology to allow players to propose
Speaker 1: or match anonymous phrase with each other. Now, the key
Speaker 1: speatures of exchange wagering. They include great value odds you
Speaker 1: always look for great value when you're betting. And two
Speaker 1: you could even wage you during the actual running of
Speaker 1: the race. You could bet will back a horse at
Speaker 1: a specific odds odds and those odds will be locked
Speaker 1: in as opposed to power mutual wagers. You can bet
Speaker 1: a horse at eight for one with ten minutes ago,
Speaker 1: So we gotta we gotta run Peter Rotondo, League Davis,
Speaker 1: Team Rotondo, Gariette Bloomberg Race the enthusiast. This is Bloomberg
Speaker 1: coming up on on Bloomberg Bloomberg Law. An unusual decision
Speaker 1: the Ninth Circuit Court of Appeals telling the California's Supreme
Speaker 1: Court it needs to do a better job of explaining
Speaker 1: why it's dismissing a prisoner's challenge to being detained.