Sometimes an investor will take a large gamble that supplies a return so spectacular that the investor can fall into a trap of thinking that he can work the same magic with any speculative endeavour. This mental shortcoming would appear to have seriously inflicted the thinking of one Edward Albert Granville Birchley, aka. Eddie Birchley was the recipient of a substantial windfall as the result of a risk he undertook by investing in some Gold Coast beachfront property. Up until that time, he had lived a somewhat pedestrian existence as a member of the Brisbane Fire Department.
Eddie did so well in this real estate venture that he was able to resign the position he had held for 17 years with the fire department to pursue his lifelong ambition to be, of all things, a professional punter. Unlike many others who obtained this storybook opportunity of a life of leisure, only to recklessly throw it away in short order, Eddie Birchley approached punting with the same methodical approach he applied to his fitness regimen and his short stint as a professional boxer.
Just as he committed himself to swimming and jogging, much of it over considerable distances, on a daily basis, Eddie Birchley took his time studying the racing market before deciding upon his strategy of backing short priced favourites.
He patiently waited for the ideal situation rather than throwing his bank around shotgun fashion. When the horse took the post, Eddie had the second instance of great good fortune serving to cultivate the notion in his mind that he had the golden touch.
Birchley would only bet on horses that were short priced favourites, mostly odds on. The shorter the price the better, Birchley would say. His philosophy was….. When it comes to racing, however, horses often show total disdain for odds, form, trainers, jockeys and previous results.
