Re: Another View of Modern Racing From Bobby Trussell (569 Views)
Posted by:
fkach (IP Logged)
Date: October 04, 2007 09:28AM
>With commercialism comes a lack of responsibility of the breeder, as the breeder does not have to consume or rely upon the product. <
This is very short term thinking on their part.
The economics of this sport never cease to amaze me. I'm not an expert on horse values, but it seems to me the income streams don't even come close to justifying the prices paid for horses. It's as if "the greater fool theory" is not applicable to horse racing because there really is an endless stream of fools paying higher and higher prices. I realize there are intangible benefits to thoroughbred ownership that account for some of that, but I think there has to be at least some correlation between the quality of the asset (the horse), it's ability to earn (which is partly dependent on soundness and ability to race often), and the ultimate values. If some aspects of the quality keep deteriorating, something is going to hit the fan.