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Originally Posted by Storm Cadet
Remember a rule, these people start their own for profit horse stables to make money-YOUR MONEY. Win or lose...they make MONEY-YOUR MONEY! Their business models are set up so THEY are protected and the only losses are the investors.
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As Chuck said, yes, very well stated and very true. It is crucial to remember -- and most people either forget or don't ever realize -- that these partnerships have a business model. They are not in the business of racing horses, making money from purses as their primary revenue source, and making money for the investors/limited partners/etc. These partnerships are in the business of syndicating horses and selling partnership interests. Think about it.
While this may or may not be obvious to some, and it might be simple -- it really is important to think this concept through.
Eric