and you thought Dutrow was a shady character?

[Michael D.]

http://bloomberg.com/apps/news?pid=20601087&sid=aGle6KcO9IJ0&refer=home

[TGJB]

Yikes. A good friend of mine is the guy\'s cousin, didn\'t even know he was in racing until he saw him in the winner\'s circle at the Derby.

[Perfect Drift]

This entire group (owner/trainer) makes my skin crawl.  Remember, this is the group who brought you the infamouns A One Rocket.  Jerry... any chance you could post his sheet so the group could see his \"expert handling\" by Dutrow?

Please, let there be another Birdstone is this field, I couldn\'t stomach watching this happen from the grandstand.  

Mott, Shug, Mandella, hell, Baffert... anyone but \"Babe\".

[miff]

A One Rocket was trained by Gregory Martin, not Dutrow when the shake thing came about.

The original and now 25% owner of Big Brown is Paul Pompa, one of the classiest,low keyed guys in NY racing.It would be a mistake to classify Paul with the camera hording Iavarone.

Mike

[BitPlayer]

If memory serves, A One Rocket was trained by Greg Martin, not Dutrow.

What I\'m curious about is where IEAH got the money to be able to buy these expensive horses.

[rosewood]

Miff,

If my memory is not gone, I think Greg Martin was IEAH\'s trainer before they got BB.

[Boscar Obarra]

Prob a bum rap.

  Guy looks as honest as the day is long.

  Trust him with my life.

[sighthound]

I am constantly astounded by how many successful, bottom-line, detail-oriented people fail to do any due diligence whatsoever when throwing thousands of dollars into the racehorse business.

How many of you here would jump into this hedge fund?

[miff]

Sight,

I may have been the first person to inquire as to how/if one can \"short\" this fund.The absurdity is that Iavarone and partner Scihavo get a 2% management fee and 20% of the net earnings.The lord watched over them as Paul Pompa legally robbed them on the price of BB while retaining 25%.Who would have guessed that a one race turf winner would turn out a dirt champion and TC winner,maybe. The hands of fate work strangely sometimes.

With BB\'s success the wealthy suckers will be lined up to join IEAH.This game is easy.

Mike

[sekrah]

There were many rich celebs and sports figures who had a piece of IEAH.  Joe Torre was one of them if I recall.

[jbelfior]

Perfect Drift:

My feelings exactly. I will not be able to stand another round of that circus coming to New York to celebrate. I\'m not shocked to hear that one of the owners was a shady Wall Street guy; hell, he looks just like one. It\'s funny how guys like Dutrow are magnets for these type of people.

BIG BROWN is a nice colt, but I cannot root for him because of the nausea brought on by \"Babe\" and his crew.


Is there another BIRDSTONE out there; I hope so, but I doubt it.



Good Luck,
Joe B.

[Boscar Obarra]

fwiw, I think they knew a lot more about BB\'s potential then you give them credit for.

  I said they were shady not stupid.

[Silver Charm]

To many posts to weigh in all of them so I will weigh in here.

Joe B a good friend of mine told me today he is PULLING AGAINST BB. He is a die-hard racing fan but said he can not deal with how Dutrow is carrying on. I asked him to compare how Dutrow is acting versus how Nafzger was last year. His response, there is no relevant comparison.

Miff the 2% Admin Fee and 20% Net Earnings is how a Hedge Fund or Private Equity Fund does business. They said they are a Hedge Fund so it is 2 and 20. This is standard. Also the 20% is Net Earnings. Let me repeat NET EARNINGS. This means the Fund made money. How many Horse Racing Operations out there are profitable?

Regarding the price they paid Pompa. What did they pay for Curlin? $3.5M for 80% right. So the price seems reasonable once I am sure they did their standard Due Diligence. And trust me these guys do their Due Diligence.

I think Iavarone is a good guy. Racing has been full of the Peter Brants, Gary Tanaka\'s, Midnight Cry Stable (the original Curlin owners) over the years. Iavarone is not in their league. That still doesn\'t mean his Horse Hedge Fund is a screaming buy.

Do your own Due Diligence....

[fasteddie]

People need to seperate the horse from the crew.....I was never a big Wolfson fan (Affirmed), nor the \'Slew Crew (for how they treated Billy Turner), but I loved the horses, so let\'s break this TC drought!

[rosewood]

Eddie,

IEAH and the J.T. Lundy crew- OK

John Veith and Rick Dutrow- blasphemy