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NYTimes article on Nobiz
Really entertaining article- wow- Nobiz's owner turned down $17 million for him... much as I love to grouse about people selling to the sheiks, I would have had a hard time saying no to that.
http://www.nytimes.com/2007/04/29/sp...ts&oref=slogin |
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i'd have sold 95% of him. sure nuff.
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I didn't believe it when I heard it before the Wood and I still don't believe it.
Regardless, she absolutely doesn't need the money so it was a no-brainer. |
Some people dont get it. Money cant buy the experience. Good for her. Not a spring chicken. This is the best indicator of the real horse people. Good to hear Funny Cide is still enjoying his training.
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I am extremely dubious of the Sheiks offering that kind of money. Doesn't ring true.
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Couple of things -- $17m after his first lifetime start? I am hearing that for the first time, and I don't believe it. I am not sure if that's melodrama, embellished or what, but $17m after his first start? No, don't tell me about $16m for an unraced 2yo -- different story.
Also, interesting that she "refuses" to insure him because she doesn't want to profit from an injury. Self-insuring that kind of figure? To each their own. Eric |
I think they forgot a decimal place.
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Not that this is a simple discussion, but to not insure this horse this year as the colt was on the Derby trail -- not for $17m, because, first, I don't believe the #, and second, I don't think you could justify the sum insured. Maybe through Lloyds of London, and with reinsurance, etc., but it might not be easy. What about his pedigree?
We all know of another big horse owner, who everyone thought was super-wealthy, who publicly said he doesn't insure any of his horses -- anyway, was it because he was super-wealthy? I don't think so. Can she really self-insure this horse? As an isolated asset, maybe. As an asset class? No. Eric |
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Kudos to the Nobiz owner. The self-insuring part is a little weird, though! --Dunbar |
I concur I thought it sounded high, and I won't be surprised if it turns out to be a lot less, but it's not like the sheiks don't have the money.
I personally thought Smarty's owners sold because the insurance on him was becoming too much. |
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FC is running today in the King's Point. |
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The video "Education of a Racehorse" was pretty good too.
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The two entities that ultimatley supply cash for racing, the betting public, and the owners, must do it for entertainment because its pure folly to try and make money this way for the vast majority. If you listen to the stories of both owners and people who wager, its very clear the value is in the moment. The big hit, and standing in the circle with the flowers. Those are the memories, and the entertainment. If one has money to spare to make money, get in the stock market or something else much easier. Racing... is entertainment. I personally would get a whole lot more out of the game by breeding, training, and racing my own horses if I had the money and knowlege. So I see what you are saying about Pitts. It seems cheap to just waltz in and buy a horse that is going to get you to the circle by offering a boatload of cash. That would be a dissatisfying way to get some sense of achievement imo. |
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