Quote:
Originally Posted by moses
Come on. Rich people are duping poor people into crowdfunding their racehorses. Of course owners lose money on horses all the time. But if those MRH people who bought in on Authentic (a Kentucky Derby and Breeders Cup Classic winner), don’t see any profit, then I don’t see how anyone justifies it. I guess that remains to be seen after he hits the breeding shed. But it looks like the model is built so that the MRH owner can never actually see a profit, which isn’t the case when you actually purchase an individual racehorse.
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They're not being duped. There's no trick. It's right there upfront. You know what you get and if you're fine with that, so what? It's like saying Disney is duping people into crowdfunding their theme park. Not everything is about obtaining profit. Thinking you can make guaranteed bank on a racehorse is rather optimistic. Actually purchasing an individual racehorse is still not likely to result in you counting the bucks. Technically you co-own Monomoy Girl if you have so much as one share, and from what I can tell if she had a big year and makes another million (not far fetched given her past record), you'd come out even.