Big Brown owner to Start Equine Hedge Fund

June 10th, 2008
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International Equine Acquisitions Holdings the owner of famed race horse Big Brown is raising capital to start a hedge fund. TAG Virgin Islands has already committed to back the fund. The fund is planning to find "equine diamonds in the rough" and race them for profits. There are many similarities between Wall Street and race track betting, even more so with sports gambling, where the boss sets the points for the game and odds based off that, and then gamblers make money on the spread, there are hedging strategies and shorting, in fact the only difference is what is being bet on. However hedge funds raise money based on their reputation, and the `value added' of the managers. Anyone can bet at the races, and what is more you are told the odds from the start. It sounds to me as if the company wants someone to finance its gambling habit. The line between professional and professional gambler is already thin, and for me this crosses it.


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