You're watching...
West Point Thoroughbreds president Terry Finley explains how small businesses all over the country can invest in a thoroughbred.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
-- now from that we're gonna make the transition to re saying it not your kind of -- so come down but almost two billion dollars in prize money last year's driving more investors.
To the horse race track.
Cheryl Casone is and Saratoga Springs, New York.
Where the horse -- -- draws some very big names Cheryl.
Well -- -- -- you know it's funny because the Olympics of course has been going on you were just talking about that the Olympics has played today they were looking at the equestrian team from the United States because a lot of these top horses do come from the sale.
Like plastic tent and that's what we are today -- live in Saratoga springs new York and is one of the premier options in the world.
But there are millionaires they're billionaires here but you -- can actually believe you're not a on a beautiful belly just like this -- -- she's public in a self sniper about.
-- thousand dollars plus but.
Don't let that attorney because there -- people in this world like Terry -- -- Terry -- Runs a syndicate called West Point thoroughbreds and Terry to be here now because what you do is you have small business -- spent New Jersey.
That come in the year that coming your office and they take a piece of a horse explain how the syndicate works.
Well actually they come from all of the country and the buy equity stakes in in other words that would buy and and the participate as.
Owners and it really gives them all the all the upside all the excitement all the anticipation that the down.
You call this an adult form of -- -- got about 500 clients right now all of those clients own about 65 forces.
The median investment -- what about 101000 dollars at least to get in to one of these Porsche shares that -- well well about -- to point doesn't get you started in the business.
OK so when you buy up those shares of horses do you tell them you've got to be willing to lose everything when you come into the senate -- -- -- -- like this if she gets hurt.
On the track the investment is going to -- Right we do we should we tell -- We tell people it's -- -- found its investment and of course part of that is a financial investment but really that's the weight.
I've yet to look at it as really that the lifestyle.
And opening up to hold the world of the thoroughbred -- and what type of return though could I get terrier is say that they do put down -- 101000 dollar investment.
With none of my closest friends about a 100000 dollar -- What is the potential what did -- -- seen as a big return for one of his horses we've had our best one's been about thirty acts.
So.
-- 101000.
-- dollar investment turned in about 600000.
Dollar adjustment 101000 to that's one person ten grant McCain 300000 right -- most of them.
Our -- show a negative return on bets and could.
It's a difficult game and.
Really a competitive as well you know Terry you we're here at the auction last night we're -- -- earlier about the amount of money the millionaires with the leaders running around but -- But your clients as well are shopping for horses you bought one -- last night what do you plan to -- -- Terry what will be actively we've -- -- -- in that's the.
I think the beauty of the public auction we don't know exactly.
What we're gonna get but we'll find out at the end of the night but it's -- it's an exciting game it's really intoxicating -- -- get in.
We'll Terry at disable a quick UK you wouldn't serve our our our -- serve our nation you are veteran.
Now -- -- -- investors that want to get into the thoroughbred horse business to fastening business gets it alright West Point graduate obviously if Philadelphia guys Terry Kelly thank you for joining me in of course is built a fully behind me thank her for being so patient with me today obviously.
As we talk about the investment.
-- course -- a thoroughbred horse racing coming up guys just a little bit we're gonna have -- talk.
With you know and celebrity chef Bobby -- bar make America can now is -- pronounces it but it's a good restaurant isn't Corel.
He is a huge horse investor he has been on the -- -- follow them around how long talk with Bobby.
He's gonna be joining me in just a little bit data McConnell -- -- -- back to you again betting to win in Saratoga Springs, New York.
