Not losing is as important as winning
Warren Buffett's first rule of investing is "Never lose money," and his second rule is "Never forget rule number one". This principle emphasizes capital preservation by focusing on avoiding unnecessary losses and making careful, informed decisions to protect your principal over making risky, large gains.
I mention this because we've had a few people leave FormHorse Select because they don't like making place bets on short priced favourites.
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In the old days I would have been one of the guys who wouldn't bet each-way if the price was less than 5/1 (4/1 1/4 odds)
But these days we have the Betfair place only market where we are not locked into standard place terms and it's easy to vary the place stake to cover your win stake should the selection get beaten into a place.
Here's an example at Newmarket last month.
We bet 1 point on Brussels to win and 2.5 points to place. Brussels was around 2/1 to win.
Brussels finished second and we made a small profit on the race.
The place bet ensured we didn't lose money on that race. Of course it doesn't always work out, sometimes selections lose and don't place.
But the idea is that we try and protect the bank.
The other complaint we get is that by being a Betfair SP service we are leaving money on the table because these horses are fancied and bet.
We don't expect members to bet at Betfair SP, every bettor should always be getting the best price possible.
The FormHorse Select results are recorded at Betfair SP so that every one knows that, that is the minimum profit that can be made. It's fair.
If we start recording results to prices that were available but only a few got of course the profit would be much higher, as would customer complaints.
The official results…
+71 points – 22% ROI – 58% strike rate
are the minimum that could be achieved, we can all do better than that. Take a price.
We all like a big priced winner, something to tell the gang about. But I also like steady profits 😀
All the best
Darren Power
PS This month's sponsor is FormHorse Select, Paul Slattery won our tipping competition with a strong profit and a huge strike rate – Click Here to lock in the introductory price
PPS If you have questions hit reply and myself or one of the team will get back to you
PPPS You can cancel any paid for service at anytime by following the link in the footer of this mail
