While horse racing and sports fans across the country lament the fact that there will be no Triple Crown winner this year, the bulls are breathing a sigh of relief. To see why the bulls are taking joy in I'll Have Another's misery, look no further than the table below. Going back to 1928, there have been ten triple crown winners. Following those ten victories, the average change of the S&P 500 for the rest of the year was a decline of 9.01% with positive returns only once (Omaha). On the other hand, looking at the S&P's performance in all years since 1928 where there was not a Triple Crown winner, the index has averaged a gain of 5.23% with positive returns 74% of the time.
It's disappointing that there is no chance for a Triple Crown winner this year, but most investors would rather see the bulls running than horses any day.