NYTimes article on Nobiz

[ELA]

Not that this is a simple discussion, but to not insure this horse this year as the colt was on the Derby trail -- not for $17m, because, first, I don't believe the #, and second, I don't think you could justify the sum insured. Maybe through Lloyds of London, and with reinsurance, etc., but it might not be easy. What about his pedigree?

We all know of another big horse owner, who everyone thought was super-wealthy, who publicly said he doesn't insure any of his horses -- anyway, was it because he was super-wealthy? I don't think so.

Can she really self-insure this horse? As an isolated asset, maybe. As an asset class? No.

Eric