“We really can’t forecast all that well, and yet we pretend that we can, but we really can’t.” & Alan Greenspan, Chairman of the U.S. Federal Reserve from 1987 to 2006
Fortune Favors the Bold
It’s that time of the year again when Cinderella stories are made, when David can defeat Goliath, and when heroes are born. No, we are not talking about the presidential election, but about one of sport’s most popular events, the annual NCAA Men’s Division 1 Basketball Tournament, better known as March
Madness.
Being heralded as one of the nation’s greatest sporting events and renowned for jargons like ‘brackets’, ‘buzzer beater’ and ‘all chalk’ (meaning you are betting on the favorites), the tournament’s popularity is not confined to merely lovers of the game but is likewise fueled by Americans’ passion for betting. The
American Gaming Association estimates that bettors filled out more than 70 million brackets and wagered an estimated $9 billion on this year’s event. By comparison, neither presidential candidate in the 2012 election garnered close to 70 million ballots! Then again, given the political divide in our country that’s hardly a surprise.
