The New York Times columnist Paul Sullivan’s latest column on wealth management addresses investing in horses and features Baltimore-native George Bolton, who partially owned Curlin, the 2007 Preakness winner and the horse that holds the record for most money won by a thoroughbred horse. The story also quotes David DiPietro of Owings Mills who owns three-year-old filly Orient Moon with Bolton.
I concluded after my day at the races that while putting money into moviemaking has its pitfalls, horse racing is probably the passion investment most fraught with risk and emotions. There is the joy of winning, of course, but also the sinking feeling that afflicted Mr. Bolton when his horse threw the jockey. And with the elation of a big victory come the dreams of high breeding fees, but smart owners know that the price paid for a horse has nothing to do with its fate.
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