Subject: Daily Blurb - March 22, 2013|
Posted by: Guru
-  Fri, Mar 22, 2013, 10:33
Quote of the day
"America, we are sorry for messing up your brackets and also your financial system and everything else." -- Tweet from the Harvard Lampoon, after the Crimson knocked off New Mexico for their first ever win in the NCAA basketball tournament
Davidson found an improbable way to snatch defeat from the jaws of victory. But soon thereafter, Harvard upheld the honor of the #14 seeds by knocking off New Mexico. Too bad for Market Madness entrants, of which 32 had Davidson as a long, but only four longed Harvard. And the 15 who shorted the #14 seed basket dodged a
bullet cannonball, at least temporarily. For a full recap of the long and short counts for all units, see this sortable report.
Contest standings are complete through the first day, which already include 25% of the entire tournament games. But they donít really provide an accurate picture yet. Remember that because cash received on shorts is part of your net return, entries with large short imbalances will appear at the top of the rankings at the start of the contest. After several rounds, most of those will drift down, unless their shorts have worked out very well. It is typical that some entrants position their picks with the apparent objective of gaining an early lead. Everyone seeks their 15 minutes of fame, I guess.