I am really glad to hear that Warren Buffett is cheering for the Rockies. From the article:
Jordan’s Furniture, the Warren Buffett-owned local chain famous for commercials featuring brothers Barry and Eliot Tatelman, earlier this year promised free furniture – including sofas, dining tables, beds, and mattresses – to customers who bought between March 7 and April 16, so long as the Sox win the fall classic. Now, there’s a real possibility that Jordan’s could be paying back millions to customers.
He wouldn’t disclose how much Jordan’s might have to pay out, but the money won’t come out of Jordan’s back account: Tatelman bought an insurance policy to cover any losses in the event the Sox win the title.
Still, Tatelman said the chain took almost 30,000 orders during the contest. One customer stands to get back $40,000, Tatelman said.
“He did his whole house,” he said.
If I was one of these customers, I would take out a hedge at a casino in Las Vegas. You can pick the Rockies to win the series at +360 right now. So, the customer that bought the $40,000 in furniture could guarantee a positive payout for the cost of ~ $11,000. Sox win – he wins $40,000 of furniture – $11,000 hedge = ~$29,000. Sox lose, he wins $40,000 in Vegas. Somebody send me this guys email!
Here is a video link of the story.
Well, to go along with the new MOO ETF , we now have COW.
Confused about hedge fund clones? Here is a good summary from EDHEC. Our friends ART, ABI, ARB, T-Rex, Altera, MAST, and ABS are all there. Now will someone from one of these i-banks please email me with a bid for www.hedgefundclone.com so I can go to the Rockies game this weekend?
What is the Deep Moat Double?
To go along with the January Effect, it looks like the first day of the month produces consistent returns.