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Re: Alex, the bottom line. (494 Views)
Posted by: (IP Logged)
Date: June 15, 2005 05:54PM
I don't blame anyone for acting in their own best economic interests (owners, breeders, or insurance people).
If some capital in the insurance industry has moved to other more profitable lines, then it makes perfect sense that prices would rise. However, some if not most of the cost HAS to be related to the values of the horses.
Your point about the Japanese purses etc.. is a good one. It could make more sense to a Japanese buyer if the purses are larger in Japan (especially since I assume the competition is weaker). Over time I would expect market forces to bring that into sync too. Over time more US (and other) owners will take their horses there to race and pick up those bigger purses. In the end, I think the prices of yearlings have to be related to purses even if owners are losing in aggregate. It's a matter of what that level is. Right now, I believe prices are WAY TOO HIGH. I'm not an expert. I'm not even moderately informed. It just screams so loudly that that's the case based on basic economics that I feel very confident in my opinion that a bust is on the way.
Alex, the bottom line. (1088 Views)
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Mall |
06/14/2005 09:30AM |
Re: Alex, the bottom line. (691 Views)
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HP |
06/14/2005 10:21AM |
Re: Alex, the bottom line. (651 Views)
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Silver Charm |
06/14/2005 11:59AM |
Re: Alex, the bottom line. (4205 Views)
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06/14/2005 03:09PM |
Re: Alex, the bottom line. (565 Views)
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HP |
06/14/2005 04:53PM |
Re: Alex, the bottom line. (495 Views)
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06/15/2005 05:41PM |
Re: Alex, the bottom line. (596 Views)
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Mall |
06/14/2005 05:46PM |
Re: Alex, the bottom line. (494 Views) |
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06/15/2005 05:54PM |
Re: Alex, the bottom line. (491 Views)
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magicnight |
06/15/2005 06:46PM |
Re: Alex, the bottom line. (516 Views)
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06/15/2005 07:23PM |
Re: Alex, the bottom line. (454 Views)
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bdhsheets |
06/16/2005 01:09AM |
Re: Alex, the bottom line. (446 Views)
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06/16/2005 08:33AM |
Re: Alex, the bottom line. (548 Views)
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Mall |
06/15/2005 08:29PM |
Re: Alex, the bottom line. (505 Views)
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SoCalMan2 |
06/16/2005 03:02AM |
Re: Alex, the bottom line. (503 Views)
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06/16/2005 08:29AM |
Re: Alex, the bottom line. (487 Views)
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Chuckles_the_Clown2 |
06/16/2005 10:36AM |
Re: Alex, the bottom line. (478 Views)
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richiebee |
06/16/2005 11:28AM |
Re: Alex, the bottom line. (478 Views)
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Chuckles_the_Clown2 |
06/16/2005 12:09PM |
Re: Alex, the bottom line. (464 Views)
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richiebee |
06/16/2005 12:38PM |
Re: Alex, the bottom line. (541 Views)
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06/16/2005 01:40PM |
Re: Alex, the bottom line. (505 Views)
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06/16/2005 10:35AM |
Re: Alex, the bottom line. (465 Views)
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HP |
06/16/2005 10:45AM |
Re: Alex, the bottom line. (535 Views)
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06/16/2005 11:04AM |
Re: Alex, the bottom line. (482 Views)
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JimP |
06/16/2005 11:59AM |
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