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...Either way, South’s J♣ scores his 12th trick....
...When this loses, East can cash K♠ and lead Q♦, but declarer has time to win A♦, cash J♣, cross to dummy with J♥, and then play A♣ on which he can discard a diamond loser....
...Winning in hand, South plays J♠ to A♠ and ruffs a low spade in hand. He crosses to dummy’s Q♥ and ruffs a second low spade, noting that the suit is dividing 4-3....
...The solution to these problems is, at trick 2, to duck J♣ lead....
...Over the past year the FTSE 100 has gained 1.23 per cent, while the S&P 500 has risen by 31.3 per cent....
...BiddingDealer South E/W Game West leads A♥ and, assuming a heart ruff in dummy, if West holds K♣ or Q♦, all should be easy. Leading a low club towards dummy’s Q♣ seems the best move....
...Even metrics with better track records, such as cyclically adjusted PEs, or Q-ratios that focus instead on balance sheets, show the S&P to be hugely overvalued....
...BiddingDealer: NorthLove All West led J♣ instantly; South indentified five losers: two diamonds, two low hearts and A♠....
...This achieved, he led a low club, West rose with A♣ and led his 6♦, which East won with Q♦. No third diamond appeared but, instead, East laid down 7♠....
...Now, he plays Q♦. If West could win, and he plays a heart, it provides a ruff and discard; if he leads a diamond, K♦ is the 10th trick; a club sorts out the suit for only two losers....
...Even if West could win Q♦, he is still struggling to avoid helping declarer. With J♦ winning, declarer next tried Q♥, also ducked by East, also winning....
...Now, each declarer played the club suit in the usual way: leading low from dummy and putting in J♣ from hand. This lost to West’s Q♣ and the contract was down....
...West duly rose with K♣, cashed Q♠, and led a second heart. South won and could play to Q♣, but he could not safely return to hand....
...Despite Greenspan’s intervention, the S&P 500 went on to more than double, destroying the careers of any money managers who shared the professors’ conviction....
...To succeed wherever Q♠ and K♦ lie, West must be stripped of a safe way of getting off lead once he wins the first finesse....
...The deduction makes sense: if East leads a heart, West will surely be unable to ruff high ahead of dummy’s J♠ and this will indicate that East holds Q♠....
...East might have kept open his options by discarding Q♦ under the first round of the suit and then, when West led 10♦ subsequently, discarding J♦ under dummy’s second top honour....
...West led J♣; South faces a loser in each of other suits and, crucially, the fourth round of clubs too. Can you foresee what might go wrong?...
...Total operating profits that year are forecast to reach £3bn, according to S&P Capital IQ data. Once signed up, few loyalty card members bother to unsubscribe....
...Morgan Securities plc, which conducts its UK investment banking activities as J.P. Morgan Cazenove (“J.P....
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...At trick two, South ducks East’s Q♣; West does not ruff. East continues with J♣; South plays K♣ perforce, West will ruff and switch to a spade....
...The beauty of South’s play was this: even if West wins the third club trick with J♣, declarer was safe. What could West lead?...
...If West could cover 10♥ with J♥, declarer would play Q♥, losing to K♥. Back would come a low heart and South could play 7♥....
...It launched Amazon Q, an AI-powered assistant for users of its cloud services, in November....
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