The downward slide in the world economy leaves no one untouched. Horse racing, like any other asset is going to take some mark downs too. Read this short piece from Bloomberg:
Then add in how disgusting it has become trying to handicap horses with changes in track surfaces, dirt vs. synthetic, and how enthused most of the titans of the industry are toward the change, and I see an industry in the death throws. They can have it. I'm half way out the door.
Will the last person leaving the last dirt surfaced track in America please turn out the light?
Or maybe the whole thing will collapse. They just banned dog racing in Massachusetts...read about it here at http://www.equinometrics.com/ . If you don't think it is but a short hop over to banning horse racing next, let me tell you about the tooth fairy.