Investing is an art, not a science. In science, the search is for a repeatable answer under every identified condition. As strong as it may seem to many, the search is not, in the end, the largest performance number.

From an investment standpoint what I learned at the track that is useful can be summarized as follows:

1.  The objective is not to win every race but to finish the day as a winner (including expenses).

2.  Don’t bet on every race, there could even be days when no bets are made as the payoff o

Source: Lipper: 5 things investors can learn from horse racing betting