In reality I am more likely to make a significant investment in horses next year. In many ways 2020 is more of a practice round. If I decide to buy a whole horse rather than a partnership, it might even be two years before I jump in.
I am happy with the 4 small partnerships I bought this spring, but in the long run I am leaning toward the yearling market.
But in all honestly I would probably rather own a entire $35,000 Midnight Storm, that own 5% of a $150,000 Street Sense or Declaration of War. However, I can also see the wisdom of owning part of 4-5 horses.
I also must admit that part of my hesitation is the general state of the US economy, and the continued speculative fever in the US stock market. It would be interesting to see the price of horses if the markets were down 50%.
I continue to own gold and gold stocks, Newmont (NEM) and Novagold (NG,) are my two favorites. I believe that US monetary policy is being conducted by madmen with little link to reality. In effect, we have de facto endorsed the crazy ideas of Modern Monetary Theory. If you don’t know that means, look it up, it is too frighting to write about. It not really about politics, both parties are too stupid to play in sandbox, much less manage a complex economy.
I am sure many folks will get tired of hearing “maybe next year”, but I cannot ignore the economic outlook.
Buying A Race Horse 