Sep 26, 2013
Michael Covel speaks with Michael Konik, author of "The Smart Money". Konik has had a fantastic experience in the world of sports betting, and the parallels between his world and the trend following world are off the charts. Konik and Covel talk about the similarities between Konik's world and the Turtle story; Konik's background and how he came into this world of rule-based betting; some of the stories about "Big Daddy" Rick Matthews (fake name for a very high profile individual featured on 60 Minutes), the main character in Konik's book and the most successful sports wagerer in the world; position limits; Konik's theater background and how it tied in to the experiment; sports betting technique, the line, the Kelly Criteria, and "Big Daddy's" own line; the "brain trust" and how "Big Daddy" led his operation; point spreads; looking for value rather than a favorite home team; the importance of a dispassionate outlook; the importance of knowing why you place a bet or trade; how the brain trust came up with a line better than the other lines out there; the importance of injuries in sports betting. For more information on Michael Konik, visit MichaelKonik.com. Want a free trend following DVD: www.trendfollowing.com/win.