Fun for the Melbourne Cup. Each year, Macquarie and RBS Morgans release their analysts from their bear pits.

Eager to please their masters sweetened with a few hours of sunshine if they get it right, the analysts work reletlessly through the year.

The beancounters at PWC have also joined in the fun for the last 3 years, producing their own tip sheet but have yet to pick a winner (arguably reflecting that theres more to horse racing than just numbers).

Perhaps reflecting the success and distraction in the sharemarkets, last year yielded very little for both Macquarie and Morgans. Some would say the recent downturn in the market has many of them looking for another job and may see horse racing as a way out, leading to a better analysis this year). Others may say that they have lost their mojo. Only this year's results will tell who can pick a winner for this year's Melbourne Cup?

Remember, an analysts view of the Melbourne Cup means that its not about who's going to win, but who will provide the best bang for your buck!

Macquarie maintain the better record and as a good friend once said to me, "when you shake hands with Macquarie, always count your fingers". Our view is they're likely to produce a better result