19th June 2012, 06:03 PM
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Member
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Join Date: Jan 1970
Posts: 4,422
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To take the analogy one step further...
Say the top jockey with the top trainer, on the top horse, is most likely to get the vote.
Therein lies early value, but later value lies within a good horse, average trainer, decent jockey.
So 120% market might still be value, if the punters are going to plunge on the favourite.
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