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If you are buying a share in a horse through @MyRacehorse, you have entered into quite possibly the most transparent horse share purchase in the history of horse sales. Any bickering about it is the height of irony in a business which is notoriously opaque.
If you don& #39;t like their approach, the fee structure (which is transparent), etc, and you want to create some better offering, within the rules of the SEC, start a competitive group. Racing should welcome any and all innovation in this area.
MyR was only in a position to acquire a % because a deal was done that included kickers they& #39;d have to pay to previous owners. And remarkably, all of those kickers are also transparent. Amazing, incredible!
I& #39;ve owned shares of horses in partnerships for almost 10 years now. Highs and lows, frustrating, exciting, disappointing, nervewracking, thrilling. I& #39;ve only EVER paid out, I never once have received any money back on my stake, and I don& #39;t regret it for a second. I& #39;m having fun!
Do I consider these investments? No, I consider it spending on something I love. Horse ownership is not a path to riches, it& #39;s often just spend, spend, spend, with an emotional enrichment the payoff, not financial enrichment. Prize money covering costs, not yielding profits.
If prize money wasn& #39;t as good as now, maybe I& #39;d have to put up more for expenses than has been done. Maybe I wouldn& #39;t have enough to continue receiving the emotional payoff of my investment in horses. Thus - the need to focus on sustainable prize money development via wagering.
In the meantime, if you want to browse through all of the SEC filings of MyRacehorse, go ahead: https://www.sec.gov/cgi-bin/browse-edgar?CIK=1744448">https://www.sec.gov/cgi-bin/b...
