I am in Louisville for the Kentucky Derby. We did a tour of Old Forester yesterday. Interesting. I liked the demonstration of how they char the barrel. Their bourbon was nice. I liked the Bottled in Bond and the Fine Bourbon the best.
I know virtually nothing about how to bet horses. I do love to watch them run. There is something so beautiful about a horse. I can’t ride them as my wife and kids will attest to and have never been around them much.
One of the virtues of moving to Las Vegas was meeting people who know how to gamble. A gentleman I play golf with used to entertain the whales at casinos. He said he saw people lose a lot of money over the years but if you really wanted to lose money, bet the ponies. The movie “The Sting” isn’t far off.
We are here for the show.
This year with Covid being over, the market melting down, and the way our country is being run, I think that events like this will be big. Miami has the Grand Prix this weekend. I wonder if anyone there is sensing the same thing I am?
This selling has been very orderly - and that’s the worst type of selling.
Vicious market drops in response to news or events hurt, but they’re fast and resolve quickly, akin to ripping off a bandaid.
The selling we’ve seen of late is slow, methodical, and relentless, all hallmarks of deleveraging, unwinding, derisking, or whatever euphemism you choose.
This isn’t your brother-in-law’s selling, it’s the big dogs dumping, and it can go on for a long time.
I get the feeling here that everyone is putting on a “Southern Hospitality” happy face with full knowledge and dread about what is coming next. The makeup, the pink dresses, the beautiful hats, and artfully tied bowties make you forget about everything. It is a facade.
I will bet some trifecta box today. Mo Donegal will be a part of it. He’s 10-1 coming off the #1 post where no horse has won since 1986.
Who do you like?
Love Old Forester Bottled in Bond. If you're heading back up to Chicago afterward, make sure to stop by Old 55 in Newtown, IN, just south of West Lafayette. They make some excellent wheated bourbons. Their barrel proof and bottled in bond blends are my favorites. They also make the only 100% sweet corn bourbons available in both bottled in bond (don't recommend) and barrel proof (interesting and different but expensive).
Also, I'm disappointed you're not in Miami. This weekend is going to separate the F1 fans from the traditionalists.
Charge It!!
And enjoy it all. Cheers!!