On: How tech’s young millionaires spend their money

[jacques_chester]

I bought a part stake in a horse, and also wagered on it. The horse won and I made my money back. It's a bit of a focus on horses, but in a smart way.

[krrrh → jacques_chester]

Hedging would be prudent, balancing risk and wagering on the other horses. If your horse loses, then you can limit your losses with your other winnings. If it wins then you can cover the money you put on the wagers. Over the long term that's smarter than putting everything on one pony.