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Dr. Ziemba
Beat the Racetrack
Highly statistical book, I did read it when first came out. Was a thick one. Basically the idea deals with the inefficiencies of the stock market applied to horse racing. You have to watch the Tote Board fluctuation until the last minute or two, and then, based upon some statistical calculation you would make your bet. I don't remember if he talked much about exotic wagering, but I know for sure that the Win bet was a lock. The key word here is "Inefficient", which means "not producing the desire effect". The public only guess the winner 32% of the time (around there), thus the favorite. Is 32% an efficient way to win at the track, or inefficient? You know the answer. I wonder why Doc expect 60% or above, to be Efficient. I'm sure he did read Ziemba one time or another.
Pino
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