MINEFIELD: Dubai-Bye..

Steve one of the owners is up here from Schenectady and rumors were flying around all weekend as to how much they got. Kinda like the game telephone where the original statement is completely different at the end of the game.
Supposedly an obscene amount of money.

[Fanofthejuiceguys]

Originally Posted by oracle80

Steve one of the owners is up here from Schenectady and rumors were flying around all weekend as to how much they got. Kinda like the game telephone where the original statement is completely different at the end of the game.
Supposedly an obscene amount of money.

Just ask "Roddy"!

[ELA]

This is an entirely different environment than most people are used to or even understand. It's extremely difficult to put yourself in the sellers shoes. The "price" has to be at a level where these people, who normally aren't sellers, actually become sellers. Even though professionally I am in the financial services and wealth management industry, you have to not just count other people's money, but more so be able to put yourself in others' shoes and "honor" their money. That's a discussion for an entirely different time and place, LOL.

Anyway, you can look at a situation, for example, like Earle Mack and Electrocutionist. There are others as well. Eventually you get to a price point where regardless of how much money you have, you almost "have to sell" -- as hard as that may be to believe. The economics almost demand it. A Henny Huges at $4mm plus, an Electrocutionist at say $5m, a Discreet Cat at X millions, etc. There are certain economics that play out -- the opportunity cost, the cost of not selling, the risk management aspect, etc. These things also drive the marketplace out of "normalcy" and some feel into "lunacy". However, it's the people who are on the seller's side of the transaction that don't see it as "lunacy" -- I wonder why, LOL.

We see glimpses of this in the yearling sales and the two year old sales and it causes tremendous inefficiencies in the marketplace. Then comes a "correction", LOL.

Eric

Originally Posted by ELA

This is an entirely different environment than most people are used to or even understand. It's extremely difficult to put yourself in the sellers shoes. The "price" has to be at a level where these people, who normally aren't sellers, actually become sellers. Even though professionally I am in the financial services and wealth management industry, you have to not just count other people's money, but more so be able to put yourself in others' shoes and "honor" their money. That's a discussion for an entirely different time and place, LOL.

Anyway, you can look at a situation, for example, like Earle Mack and Electrocutionist. There are others as well. Eventually you get to a price point where regardless of how much money you have, you almost "have to sell" -- as hard as that may be to believe. The economics almost demand it. A Henny Huges at $4mm plus, an Electrocutionist at say $5m, a Discreet Cat at X millions, etc. There are certain economics that play out -- the opportunity cost, the cost of not selling, the risk management aspect, etc. These things also drive the marketplace out of "normalcy" and some feel into "lunacy". However, it's the people who are on the seller's side of the transaction that don't see it as "lunacy" -- I wonder why, LOL.

We see glimpses of this in the yearling sales and the two year old sales and it causes tremendous inefficiencies in the marketplace. Then comes a "correction", LOL.

Eric

Eric, didn't Mack sell him that other horse for crazy money a few years back as well?

[ELA]

Originally Posted by oracle80

Eric, didn't Mack sell him that other horse for crazy money a few years back as well?

Aside from Electrocutionist, yes, there was another one. I don't remember his name, what major race he had just won, etc. or any of the specifics for that matter. I know the agent in the deal and he told me very matter of factly. I don't by any means play in those leagues -- not in any way, shape or form. But even buying horses who make the races -- the amount of money being thrown around is enormous and it drives the market into territories and levels that in the long run will hurt.

Everyone wants to believe that "markets" are "efficient" so to speak. However, they are not. That is, in part, what creates opportunity within the marketplace.

Eric

[Kasept]

Originally Posted by oracle80

Steve one of the owners is up here from Schenectady and rumors were flying around all weekend as to how much they got. Kinda like the game telephone where the original statement is completely different at the end of the game. Supposedly an obscene amount of money.

Yeah.. Lucarelli grew up and is still friendly with Laurie Tessatore ("Beetlejuice"), the wife of my backyard Sunday buffet co-hort Donnie..

Originally Posted by Kasept

Yeah.. Lucarelli grew up and is still friendly with Laurie Tessatore ("Beetlejuice"), the wife of my backyard Sunday buffet co-hort Donnie..

I have never met the guy, and don't know what he even looks like, just heard he was in construction business. I stop in Schenectady to meet a friend who works at GE down there for lunch once in a while and we have lunch at a place that shows the races(a bowling alley of all places) and all you ever hear about is this guy and his horses from everyone in the place. I hear he owns part of Octave as well.

[ELA]

Originally Posted by Kasept

Yeah.. Lucarelli grew up and is still friendly with Laurie Tessatore ("Beetlejuice"), the wife of my backyard Sunday buffet co-hort Donnie..

Backyard buffet of yours? Boy, would I like to be hungry and on that buffet line. LOL.

Eric

[hoovesupsideyourhead]

..ask cannon shell about battle won...some times takeing the money is a smart thing...

[KirisClown]

Grand Hombre

[ELA]

Yes, that was the other/another one. I also thought there was another, perhaps a European campaigner, besides Electrocutionist.

Eric

[mark2061mn]

The also recently purchased the 2yo filly based at Santa Anita named Zada Belle. She was the most impressive debut 2yo filly I've seen this year in California.

Also, awhile back, I read on the drf.com site that they purchased street sense, but that article seems to have disappeared.

[jpops757]

With all the negatives we have hear in previous post about Star of Johannasburg, Have the shieks entered the bidding? With the "no sale" sign , what would be the obsene figure that they would cave in too?

[SentToStud]

I was at Calder today and saw a $3.4 Million A.P. Indy Darley colt, Sahara Heat, run up the track. I made my way to the paddock before the race to see what $3.4 Mil looks like. It didn't look like all that much to be honest.

Originally Posted by SentToStud

I was at Calder today and saw a $3.4 Million A.P. Indy Darley colt, Sahara Heat, run up the track. I made my way to the paddock before the race to see what $3.4 Mil looks like. It didn't look like all that much to be honest.

Looked much worse if you included the horse in your pik-3 bets I assure you.

[Sightseek]

Originally Posted by SentToStud

I was at Calder today and saw a $3.4 Million A.P. Indy Darley colt, Sahara Heat, run up the track. I made my way to the paddock before the race to see what $3.4 Mil looks like. It didn't look like all that much to be honest.

I guess he will be one Florida Derby nominee who doesn't make it to the race. (hopefully he wasn't injured in this race of course)