Diehard horse racing fans, and many others just going along for the ride, are waiting in anticipation of this afternoon’s Belmont Stakes where the 2-5 favorite American Pharoah will be looking to achieve one of the most elusive accomplishments in all of sports- horse racing’s Triple Crown. While fans are rooting all the way for American Pharoah and a Triple Crown this afternoon, bulls are rooting for any horse besides American Pharoah. Looking at historical returns for the S&P 500 in years where there was a Triple Crown winner certainly haven’t been friendly to stocks. Since 1928 (when S&P data begins), 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 more than 5% with positive returns more than 75% of the time. Go field!