Re: KING OF THE ROXY... (537 Views)
Posted by:
fkach (IP Logged)
Date: May 09, 2007 03:04PM
Since when do people buy horses for profit?
I've been saying for a long time that the economics of racing are preposterous.
IMHO, until owners start thinking like businessmen and start insisting on an adequate risk adjusted return on invested capital for horse ownership, the growth of the sport is going to be hurt by the fact that almost everyone is losing money. How can you grow if everyone is going broke?
That doesn't even begin to address the fact that owners are often forced to make decisions about horses that are not in the best interest of the sport because of the crazy economics.
I am not holding out much hope for that though because people buy lots of things like horses that give them intangible pleasures even though they are bad investments.