Stephen's Statements A little bit of everything from Stephen Duncan Jr, a Programmer/Web Geek working in the defense industry

Thursday, March 17, 2005

March Madness and the Stock Exchange

March Madness goes to market. The most interesting article about NCAA tournament predictions I've seen. Found via A Constrained Vision and from Yoco.

When the opening bell sounds at the stock and commodities exchanges around the country tomorrow morning, the traders will be buying and selling the usual products -- crude oil, gold, Treasuries, the S&P 500 index. Off the floor, after the close, they'll also be shorting Duke, going long on Kansas, buying back Pitt, and dumping Alabama. When March Madness begins, Longhorns are just another kind of cattle future.

While millions of Americans will be tossing a few dollars into pick-the-winner office pools on the NCAA men's basketball tournament, the traders will be playing a far more sophisticated game with much more intensity for geometrically higher stakes.

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