|
Subject |
Advantages |
Disadvantages |
Notes |
| Partnership
- Limited |
You are
limited as defined in the contract. |
You maybe
considered a Passive participant. |
Often no
worries but no voice in decisions. |
| Partnership
- General |
Privileges and
fame come with liability. |
You are liable
for things and must insure to be safe. |
You are
usually considered an active investor. |
|
Co-Ownership Managing |
You make
decisions and can become a famous hero because of the horse, with the rest
of the team doing most of the work. |
You are never
really a big hero if you made a proper, great decision, because the horse
will always be the hero. |
It is never
the horse’s fault. You can always blame the Jockey or the Trainer. It helps
pass the buck. |
|
Co-Ownership Co-Managing |
If you can
agree with the other Co-Manager, it is fun and two heads are better than
one. |
The conflicts
can be enormous. |
Often the
horse and a good team actually manage the horse. |
|
Co-Ownership Non Managing |
You just sit
back and, however it turns out, you can enjoy this wonderful business.
|
You may wish
you were the manager because the one in charge is dumb. |
It is
sometimes much better to let the ones who know what to do, run the show. |
| Large
Groups Major Participant |
You enjoy the
business as an owner and are treated as a king for less than it cost you to
own alone. |
You very
little say and may be paying a large portion of the overall costs of the
business. |
Sometimes, it
is nice to be a big shot and if you have a famous horse it is even nicer. |
| Large Group
Minor Participant |
You put in a
small investment and relax enjoy the business as an owner. |
You may not
like the way the management is doing things and you have little or no say. |
You may be
judged a Passive Investor by the IRS. |
| Established
Groups |
They have a
track record to judge their ability. |
They may have
been lucky and used up their luck. |
The group may
have industry contacts you could never have. |
| Your Own
Group |
Friendly and
enjoyable because you are with people you like. |
A horse can
ruin a friendship, especially a good horse. |
The places you
can go, the fun you can have and still write it off are perks. |
| Friends and
New People |
It is a great
way for friends to get together and to meet new people. |
Racing can
bring out a side of people in general that you never imagined possible. |
You may get
your children married off to some very nice and very rich folks. |
