stock market

Taking Stock: Keeneland Numbers Are Troubling

With a pandemic that's led to the loss of 200,000 lives, the loss of jobs, and overall economic instability that's affected most people except for the super wealthy that are heavily invested in the stock market, no one expected the Keeneland September yearling sale to be anything but down by gross and average versus last year. This was as predictable as saying that an egg dropped on concrete from six feet would break. So, what's the damage? Through the first 10 sessions that ended with Book 5 on Wednesday, 2,129...

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Taking Stock: Fear Index and Foal Crops

Aside from the threats to life and health, the global coronavirus pandemic has created massive economic and socio-political turmoil and fear over a short time span. In times like this--there haven't been many quite like this in recent years, except for the economic meltdown of 2008 and the crash of 1987 (Black Monday)--it's difficult to see the forest for the trees, but the worry some people have that things have changed for the worse is clear and real. Dr. Anthony Fauci said so himself. The Director of the National Institute...

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Taking Stock: The Coronavirus Impact

Two weeks ago, the bombshell indictments of trainers Jorge Navarro, Jason Servis, et al., sandwiched between a volatile stock market and the spread of the coronavirus, were the talk of the industry, leading to renewed calls by some for the passage of the Horseracing Integrity Act in Congress. At the time, the doping scandal promised to upend racing's precarious standing, but with hindsight, the plunge of the markets and the rise of the virus may cost the racing and breeding industries greater long-term harm than what's alleged in the indictments....

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