Tuesday, August 04, 2009

Exploiting FINOO success by managing money

Image credit: ptboilerroom.com

The last week turned out to be a dream week for FINOO. Mainly because the three winners--Royal Treasure, Ponyta & La Joie De Vie--all paid great dividends. Ponyta paid a handsome 16 to 1 on the Bangalore Tote, indicating that perhaps not only the connections but some of the regular FINOO backers also shied away due to such high odds.

FINOO, as the file uploaded on this blog shows, is now 49 bets old in 14 weeks, with a strike rate of 49% and flat-bet profits of 77.6%. What would be FINOO score if, instead of flat-betting the same amount on all 49 bets, we had resorted to some kind of money management?

My present research about money management involves regularly testing four methods. Let's call them MM1, MM2, MM3 & MM4.

Click here to know what they would have done to your betting pattern if you started with TOTAL bankroll of Rs 1000 only, from which you began risking only 5% on the first bet for MM1 & MM2. You will also be shocked that MM3 & MM4 actually ask you to "lay against" your choices at the odds of 40 paise, but manage your bankroll so brilliantly that they far outperform the first two methods as we progress, and create greater wealth.

But then there is a matter of psychological comfort zone for an individual. Are you comfortable with betting 20% or 26% of your capital on one single bet? If not, they are NOT for you. Who wants to make money and lose health?

But it's not a bad idea at all to study them just for academic pleasure. So go ahead and enjoy.

10 comments:

  1. Gosavi you are a gold mine of knowledge. Where did you learn all this from? You continue to amaze me. Really.

    ReplyDelete
  2. which do you use mr gosavi?

    ReplyDelete
  3. Smart N S[pecialAug 4, 2009, 12:41:00 PM

    Dear Prakashbhai,
    Can your xl sheet contain the formula so that i can understand your MM1 to MM4 Tables?
    Alternatively,you can e-mail me the same at smartnspecial@mumbaimail.in.
    Thanks.
    Smart N Special.

    ReplyDelete
  4. Thanks for your kind words, Mr Patkar.

    Deer Neeraj,
    I am comfortable using MM2 at present.

    Dear Smart N Special,
    MM1 is available for sale. It is called HMI (Horse Market Investing). Mr Dave Shwartz, of www.horsestreet.com is the man who has designed it. And I think in the U.S. it is sold for about US $34.

    The other three are my personal research products, and at least at present, they are not for sale.

    ReplyDelete
  5. Dear Prakash,
    Money management systems MM3 and MM4 look interesting. One can understand why you would not wish to part with the same. However, for us lesser mortals, at least please enunciate the basic principles on which these systems are based. Thanks.

    ReplyDelete
  6. friends
    is any one interested in sharing the cost for Mr.Dave Schwartz
    Money Management Package!
    Prakash can help us, i request him
    here for this


    Both money management manuscripts! Save 15%,Get both great manuscripts, Horse Market Investing and The Opponent Method, together!

    Price $47.50

    Shipping $6.00
    -------------

    Total $53.50
    i am interested in joining any one who is interested.
    even Dave Horse Market Investing Video Seminar is worth,i think.the cost will be extra may be total will be around $100 approx
    you are most welcome. my email.id:-bbliss47@gmail.com
    thanks Prakash, for guiding to the important topic , money management
    thanks once again
    love
    easwaran

    ReplyDelete
  7. Dear Rajendra Kumar,
    The basis of MM3 & MM4 is the same as Bell Lab engineer John Kelly's famous "Kelly criterion" (1956), popularly known as Kelly's formula among gamblers.

    However, since it poses practical difficulties in application which, I think, are insurmountable in principle, after considerable thought I have modified his formula to suit my needs.

    I will put up an article about Kelly and his formula next week which will help in understanding his work.

    Dear Easwaran,
    Hope all is well with you.

    You can trust Dave to think out-of-the-box and give you value for your money. He is one of the very few racing experts on this planet who command my respect.

    If you are a flat-bet winner, with however small an edge, HMI will surely improve your betting performance, there is no doubt about it. However, if you are a flat-bet loser, HMI will NOT help.

    ReplyDelete
  8. Mr.Gosavi, i have started to follow your tips and must say it is working like anything..thanks and god bless you

    Regds,
    Josh

    ReplyDelete
  9. Jack,
    looking at my present form with FINOO, I wonder if you are a bookie. Or you wouldn't be thanking and blessing me really. LOL.

    ReplyDelete
  10. good job.
    www.surajnarredu.co.cc

    ReplyDelete

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