EARLY MID-YEAR SYSTEM REVIEW

I have mentioned previously that I intended to do a mid-year review of the systems in use, drop the crap ones and replace them with others that seem to be going OK. Whereas that should take place on July 1, being mid-year, there doesn't seem much point continuing with those systems that are under performing. Therefore, it's time for a middish-year review.

One of the issues that's really impacted overall performance, and something I didn't originally think about which I should have, is that the different selection frequencies of the systems is a major factor in our current lower than expected results. In developing the new set of 20 systems I'll try to balance that out a bit so a high frequency, low performing system can't do as much damage.

Review of systems:

System 1: 9/27 at a slight loss is OK and it will stay with us. It's long term live performance is 47/129 (36%) at 41% profit and it's current performance is nothing that hasn't been seen before.

System 2: It's only had 4 selections for 1 win so it's too early to tell. It can stay.

System 3: Only had 11 selections and its 36%/0% performance is below the long term 46%/26% live result so it can stay.

System 4: 0/6 means it can take a break. That's well outside expectation.

System 5: 1 selection for a miss so it can stay.

System 6: Only 5 selections so we'll stick with it.

System 7: Currently 7/19 at a 37% loss but has a terrific long term record and I expect a turn around so it stays.

System 8: Definitely can't complain about this one's performance. It's higher than expectation but not by too far.

System 9: Also going OK and I expect POT to improve a bit.

System 10: Been a very solid contributor returning a 36% profit from its 49 selections. It obviously stays.

System 11: Nothing to complain about with this one. It's been a good long term performer.

System 12: 12/19 and a 26% profit might look like it's overperforming but it's actually right on expectation.

System 13: Ahhhhh. Disaster. What has happened here? I'd like to think that it can recover but it's so far below expectation or history that it seems unlikely so it can take a rest.

System 14: Another that's really put a dent in things. The trick with this system is that it's got a really good 41% strike rate but the short price of the winners has seen it deliver a 30% loss. I think that it can take a rest, too.

System 15: 1/9 is waaay less than expected but it's only 16% behind and can make that up with one winner so we'll stick with it.

System 16: POT is a bit low but that should improve.

System 17: I really thought that this one would be better that what it's delivered so it can go.

System 18: Looking at its results you'd think that this one, aimed at 2YOs, would go also but it's been through runs like this before. A touch and go decision. It can go.

System 19: This is actually my favourite system out of all of them but has only hit 1/7 with a $1.60 winner. It has a terrific 45%/90% result from more than two years of selections so I expect it to hit back.

System 20: Going well, a long way above expectation, so I expect it to cop a short losing run to bring it back to the mark but that's OK.

Summary:

Systems 4, 13, 14, 17 and 18 will be replaced by five different systems 21, 22, 23, 24 & 25 from May 28, 2007. The overall results will include the systems that have been replaced.