Re: Evaluating Managed Funds
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This line would also argue that no one can beat a sportsbook over the longterm. After all, someone is always taking the other side of your bet.
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Terrible analogy.
How many people win at sports betting?
I know several prominent bookmakers offshore and they tell me there are around 10 or so "originators" in all the major sports that are capable of moving the line when they bet (causing the screen to go "black").
The rest of the bettors lose or are followers of the originators (bet slow books that don't move their line when the originators move the market).
The percentage of people that win betting their own opinion is so tiny its pratically non existent. I am referring to sports with plenty of volume like the big 6, soccer, etc.
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