NYTimes article on Nobiz

[blackthroatedwind]

I am extremely dubious of the Sheiks offering that kind of money. Doesn't ring true.

[ELA]

Couple of things -- $17m after his first lifetime start? I am hearing that for the first time, and I don't believe it. I am not sure if that's melodrama, embellished or what, but $17m after his first start? No, don't tell me about $16m for an unraced 2yo -- different story.

Also, interesting that she "refuses" to insure him because she doesn't want to profit from an injury. Self-insuring that kind of figure? To each their own.

Eric

[philcski]

I think they forgot a decimal place.

[Cannon Shell]

Originally Posted by ELA

Couple of things -- $17m after his first lifetime start? I am hearing that for the first time, and I don't believe it. I am not sure if that's melodrama, embellished or what, but $17m after his first start? No, don't tell me about $16m for an unraced 2yo -- different story.

Also, interesting that she "refuses" to insure him because she doesn't want to profit from an injury. Self-insuring that kind of figure? To each their own.

Eric

well if they are establishing his value at $17 mill then it would be a pretty hefty premium bill

[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