MyRacehorse.com sent out an e-mail stating they will soon be sending out offers on the horse they bought at Fasig-Tipton.
They said:
“These horses will be will be available to invest in as soon as we’ve received approval fron the SEC”
I assume they mean the Securities Exchange Commission not the football conference. This is a very tricky and potentially misleading statement.
I spent 30 years in the investment business and survived 4 full scale SEC audits. I am quite sure the SEC does not approve race horses, and to imply they do is a fairly serious problem.
Much better would have been:
“We need to finish some paperwork with the SEC, before we can offer these horses.”
That difference might seem subtle to some, but I know the SEC is quite worried about how you use their name in print. This is not deal breaking issue, but it is a small step backward.
I will evaluate each horse as they put out offers, but I remain a little concerned this group is a little over-promotional.
Buying A Race Horse 