Picking Up Winners Without Placing A Bet

[Parsad]

Article in the NY Times about Jesus Leonardo who is a stooper...picks up discarded horse racing tickets and seeks out unclaimed prizes...he's found about $500K over the last ten years.  Not entirely different than a deep-discount value investor.  ;D  Cheers!

 

http://www.nytimes.com/2009/12/08/sports/08otb.html

[netnet]

Geez,

 

There really are cigar butts in with the figurative "cigar butts". :D

 

 

Man, what you gotta do to be a value investor, wade through the trash to find the gold...wait a minute, I kind of like it.  At least wading through the financial trash!

 

 

Netnet

[alertmeipp]

I wish I can have a scanner to scan filings for me and tell me how much the company worths.

 

It's similar - but I think our jobs is harder than that :).

 

[Smazz]

Ive got to give the guy his props.

He's making a living and probably loves what he is doing.

 

It does take all kinds.

[NormR]

Didn't Warren do a bit of this sort of thing in his youth?  ;D

[bargainman]

Didn't Warren do a bit of this sort of thing in his youth?   ;D

 

Too funny.  Bruce B admitted to being a bookie for a few years too!  He actually dropped out of high school to do it!  Then he went back.  Funny (or sad) thing is that apparently it took him 10+ years to get back to the same level of income after he got educated :-)

[twacowfca]

Didn't Warren do a bit of this sort of thing in his youth?   ;D

 

 

Of course he did.  Hasn't every value investor worth his salt done this?  If so, you know that

it only works well after a catastrophe such as a delayed appeal and disqualification when all the

disappointed drunks are apt to throw away their tickets.

[twacowfca]

Hmmm.  Seems like there were a lot of free tickets on winning horses littering the ground

last March.  :)

[value-is-what-you-get]

I wish I can have a scanner to scan filings for me and tell me how much the company worths.

 

 

To paraphrase WEB - you don't need a scanner, you are a scanner.