Making Markets
Brutus Clay: The Market for Racehorses - [Making Markets, EP.25]
Apr 19, 2024
Brutus Clay, CEO of Runnymede Farms, shares insights into breeding and racing racehorses. He discusses the buy side of the industry, similarities to Venture Capital, high stakes of auctions at Keeneland, and a heartwarming story about Cody's Wish. Explore the economics of stud fees, auction dynamics, and the competitive race to the Kentucky Derby. Learn about enhancing the spectator experience and overcoming challenges in the racehorse industry.
50:27
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Quick takeaways
- Breeding and racing thoroughbreds involve intricate economics with stud fees and yearling selling strategies.
- Kentucky's horse racing industry thrives on historical bloodlines and passionate individuals, beyond geography and land attributes.
Deep dives
The Fascinating World of Breeding and Racing Thoroughbreds
Breeding and racing thoroughbreds involve intricate processes and economics. Brutus Clay, the CEO of Runny Mead Farms, shares insights into how breeding resources are produced, the buyers' market values and returns on investments, and the segmentation of the horse racing market in Kentucky. The industry comprises various types of farms, from stallion farms owned by billionaires to nurseries like Runny Mead, emphasizing the global scope of breeding and the importance of bloodlines.
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