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Discussion in 'The Mainboard' started by mtsucalico85, Apr 9, 2015.
What often appears to be conspiracy is simply ineptitude.
I found that particularly rich. You think those horses run on credit lol?
What? Sorry I misunderstood.
Exactly. Those bills are going on on the first of every month without fail
Sorry for the delay on this. With tax season in play it's taking a bit longer. I did ping accounting on this again earlier today and I expect a breakout by tomorrow. FYI and to hopefully ease some of your concerns, at the closure of the series account we do provide financial statements including Balance Sheet and P&L statements of the account for your horse upon request. Being SEC regulated, financial statements are also audited by a third party. Providing each bill to thousands of shareholders each month is not a viable process. I will request that accounting include these in their breakout here.
I cannot speak for when Norm's other clients are billed and their billing process but there are a few factors here as discussed earlier that contribute to the $3,621 drop in reserve from December 16th update to January 19th. Accounting was not previously accruing for historic monthly training expenses so yes I can see why there would be a surprise in the drop here. What we are dealing with when providing these summaries on these updates however is trying to factor in timing for when someone bills, when we receive those bills, when the bills are reflected in the account and when we provide estimated and finalized summaries. It's not a process that is reflective as soon as the trainer sends the invoice. In the future accounting will estimate historic monthly costs to include in future projections to limit these sort of situations. Frankly these sort of timing issues are why most partnerships don't provide payouts, statements or summaries until all of the accounting process is finalized or when an account is fully closed. Based on the timing of these invoices (November and December) outside of regular training costs we'd be looking at a stable bonus for the win and likely transportation costs billed from Stark Transportation from the KY to FL move which would've contributed to the higher amount.
Looking forward to getting this resolved for you and would be happy to chat as we do. Thanks.
A lot of words that mean nothing there
my response was to please send me the last 3 months of the trainers bill and to indicate when it was received
I get a copy of the bill and all expenses for the other partnership I’m in.
this is shady as fuck
-Race Result: 4th place; $3,720.00 prize
-MRH Owners Stake: 60%; $2,232.00 ($3.72/ share)
-MRH Owners Expenses: Race $494.16; Management Fee $223.20
-Available Balance: $1,514.64
-Current Reserve: $17,894.56
-Reserve: Top off $0.00 Post Race Reserve $17,894.56
-Available Balance for Distribution: $1,514.64
-Dividend Payout: $2.52/share (issued on 12/9/19)
-Race Result: 3rd place; $7,440.00 prize
-MRH Owners Stake: 60%; $4,464.00 ($7.44/ share)
-MRH Owners Expenses: Race $902.52; Management Fee $446.40
-Available Balance: $3,115.08
-Current Reserve: $22,461.70
-Reserve: Top off $0.00; Post Race Reserve $22,461.70
-Available Balance for Distribution: $3,115.08
-Dividend Payout: $5.19/share
-Instant Payout: $5.06/share (issued after the race)
-Additional Dividend Payout: $.13/share (issued on 12/9/19)
What do you think of this one Gallant Knight ? This is Power Up Paynter
MRH owns 60%. That would be $7,611.9 in costs between 11/2 and 11/24
Lol ok this is getting to be absurd
-Race Result: 1st place; $33,000.00 prize
-MRH Owners Stake: 60%; $19,180.00 prize ($33.00/share)
-MRH Owners Expenses: Race $4,104; Management Fee $1,980
-Available Balance: $13,716
-Current Reserve $13,847.15
-Reserve: Top Off $4,067.85; Post Race $17,915.00
-Available Balance for Distribution $9,648.15
-Dividend Payout: $16.08/share
-Instant Payout: $15.66/share (paid on 12/29/19)
-Additional Dividend Payout: $0.42/share (paid on 1/17/19)
-Race Result: 3rd place; $6,240.00 prize
-MRH Owners Stake: 60%; $3,744.00 prize ($6.24/share)
-MRH Owners Expenses: Race $666.44; Management Fee $374.40
-Available Balance: $2,703.16
-Current Reserve $19,718.71
-Reserve: Top Off $0; Post Race $19,718.71
-Available Balance for Distribution $2,703.16
-Instant Payout: $4.24/share (previously issued after the race)
-Additional Dividend Payout: $.27/share (will be issued shortly)
$2.17 ROI at SHRP after this afternoons races. $4.08 last three days. Might be time to jump on the bandwagon
I tailed you on a couple winners today. Thanks!
Ok, this makes sense and we've received a few similar inquiries. The issue lies with accounting methodology, which is now being changed to accrue for costs and not utilize a cash basis. In the past we did not change the "current reserve" until the bills were received from a trainer/vet/transportation service, which may have been lagging as much as 2 months worth. What we are dealing with when providing these summaries (on the updates feed after each race) however is trying to factor in timing for when someone bills, when we receive those bills, when the bills are reflected in the account and when we provide estimated and finalized summaries. It's not a process that is reflected in the financials as soon as the trainer sends a bill. To negate these big swings in the future accounting will estimate historic monthly costs to include in future projections.
Hope this helps.
Next email from them ...
I can have our accounting team prepare a statement of the expenses that were accounted for within that time period that I will provide upon receipt. FYI and to hopefully ease some of your concerns, at the closure of the series account we do provide financial statements including Balance Sheet and P&L statements with a list of revenues and expenses of the account for your horse upon request. Being SEC regulated, financial statements are also audited by a third party.
I could not be more excited about my 2 year old colt. Debuting this summer at Lone Star
Holy Bull Stakes Recap
Winner: Tiz the Law
The Holy Bull was clearly the best of the three, and Tiz the Law’s (3) performance was the best one I have seen to date in this crop. He broke sharply and on top before ceding ground to horses like Ete Indian (4) and settling in midpack. He didn’t have the smoothest of trips on the backstretch, either, until he got out into the clear, at which point he showed he was just on another level from these horses. The race came back fast from a speed figure perspective, and he was finishing strong – for comparison sake, both the third quarter (24.36) and the fourth quarter (24.50) were faster than the third quarter (24.70) in the 7-furlong Swale earlier in the card. Great comeback effort by him. Ete Indian also ran a very good race, and I would argue I was more impressed with him than I was by any horse in the Lewis/Withers. He set a fair pace, and kept fighting back against Tiz the Law. He wasn’t as good as the top horse, but he was more than 11 lengths clear of 3rd, and earned a 95 Beyer in his own right. Not much to like beyond the top two.
Robert B. Lewis Recap
Winner: Thousand Words
This was a decent race, but I struggle to go much more than that, given you had the top four horses all finishing within about a length and a half of each other. Thousand Words (2) has been a consistent sort, and I do think he is a good horse, but I wonder if he may be trending towards being a horse that looks better on paper/resume than he really is. He is now 3 for 3 with a Grade 2 and Grade 3, but he has yet to win any race by more than a length, and in recent times, it seems like the Baffert horses that thrive in the Triple Crown series tend to be his more brilliant horses, and Thousand Words seems to be more workmanlike than brilliant at this point. Is this the type of race that would drop him out of my top 10? Not for me, but I think a horse with his resume would normally be put into the top 5 at minimum, and I’m not sure I want to go there – somewhere in the 6-10 range sounds about right for me. The remainder of the top four – Royal Act (4), High Velocity (5) and Tizamagician (3) – all probably deserve another shot at a race at this level, but it wouldn’t shock me if Royal Act/Tizamagician may end up better on the turf in the long run, while I don’t think increasing distances will really help High Velocity.
Withers Stakes Recap
Winner: Max Player
Won’t spend much time on this one, as I thought this was a pretty weak race. I know the Aqueduct track has been slow, but still, running 1 1/8 miles in 1:53.87 leaves me wanting a lot more. Credit to Max Player (3) for getting it done, and he was clearly best, so if there is one to take from the race, it is him. But he needs to take a large step forward if he wants to be a true Derby contender – this won’t cut it.
Sam F. Davis Stakes (Saturday Race 11, Tampa Bay, 1 1/16 miles, 10 points):
An interesting group of horses, with the big name being Independence Hall (4), who figures to be a pretty clear favorite. And if he runs the race he did in the Nashua two starts back, he likely wins. That said, his race last time out was Jerome was a step back (even if he clearly didn’t need his A race to win against that field). On top of that, he should see a little more pace presence with Premier Star (6) in the field, who figures to be the second choice. I do prefer Independence Hall of the two, and will be against Premier Star, as while I liked his maiden race (he beat Caracaro in their debut races, and he’ll be a contender in the Fountain of Youth), I didn’t see much development in his allowance race, and this is a pretty big step up in class for him, as well as in distance. My hope is those two get into enough of a pace battle to set it up for horses coming further from the back, and that leads me to Ajaaweed (1) and Sole Volante (2). Ajaaweed has the more longtime upside of the two, and I may prefer him going forward, but I do wonder if he needs a race, and also wonder if longer will ultimately be better for him. Even with that, he still may be worthy of a win bet if he sticks around his 4-1 morning line. But I’ll go with Sole Volante on top. Everything about him screams that he should be a turf horse, but his connections gave him a chance on dirt in the Mucho Macho Man, and he ran a pretty strong 3rd in that spot all things considered, earning a 90 Beyer (the highest last out Beyer in the field). He does have a recency edge on Ajaaweed, and he should be the better price of the two.
Sam F. Davis selections:
1. Sole Volante (2) 8-1
2. Independence Hall (4) 6-5
3. Ajaaweed (1) 4-1
Sa day today for my boy policy limit. He was gelded
have three runners in on Friday
and will have a stakes runner on 2/22 and barstool will be in attendance
What was the reasoning for that? Health or was he just an asshole?
They can focus better and a lot easier to train. He is a Bradester not an into mischief
Sam F. Davis Recap
Winner: Sole Volante
I thought this was a solid race, with Sole Volante (2) taking advantage of the fast pace and beating out Independence Hall (4), with those two beating out the remainder of the field by more than 11 lengths. Starting with Sole Volante, it is clear that despite having a turf pedigree (a son of Karakontie out of a Kingmambo mare), and having run well on turf in the past, he looks to be at least equally as talented on dirt. This was his best performance to date, but I still have some questions. He did have a very good set up with the fast pace, setting up his one run, and while it isn’t impossible to win as a one run closer in a race like the Derby, it does give you more chances to get in trouble in a field that large, in addition to being reliant on a strong pace. Secondly, I’m not entirely sold on longer being better for him. He did tire a bit in the 1-mile Mucho Macho Man the last time out, which is why Patrick Biancone instructed his rider to go with a one run approach. Plus, he would need to outrun his pedigree, as not only were Karakontie and Kingmambo turf horses, they were both turf milers. That said, given that he did finish strong, I wouldn’t rule him out getting longer at this point either. I’d give him more than a chance to go longer than Independence Hall. He may have been the only horse near the pace to remotely hang on, but he wasn’t really contesting Premier Star (6) or Chapalu (8) on the pace either – he let those two go at it and took over when those two began to tire. I still would have liked him to provide a little more resistance to Sole Volante if he is a true top 10 Derby contender. He’s clearly talented, and I think he deserves at least another shot along the Derby trail - I just think that he will be more of a miler at the end of the day. I wanted to see much more out of Ajaaweed (1) than we got. I thought he might need a race, but he showed even less speed than Sole Volante did, and didn’t do any running until the very end to finish a very distant third. I do think longer will be better for him, but he needs to improve by a lot to be thought of a contender.
Thought it was worth mentioning that the second and fourth place finishers (Spa City and Unrighteous) in the race Caracaro won came back last weekend to finish 1-2 in a 1 1/8 mile maiden race at Gulfstream, and they opened up 14 lengths to the third place horse. Spa City earned a 91 Beyer for this performance (I didn't mention before, but Caracaro earned a 92 Beyer for his win).
Caracaro might be a top 5 Derby candidate for me at this point, while I would at least put Spa City as a top 20 candidate.
I’m glad Biancone has bounced back from his cobra venom suspension.
Risen Star Stakes, 1st Division (Saturday Race 12, Fair Grounds 1 1/8 miles, 50 points):
This is easily the deeper field of the two, as most of the horses coming out of the Lecomte ended up in this field, as well as the Blackberry Wine (7)-Digital (1) allowance race on the Lecomte undercard. And beyond that group, both Farmington Road (10) and Moon Over Miami (5) have at least some hype behind them, though those are horses I will be willing to let beat me. Even though the Blackberry Wine race was the faster of the two races that day, I narrowly prefer a pair of horses coming out of the Lecomte, and those will be Enforceable (8) and Mr. Monomoy (9). I am going to hope that the pace is more reasonable this time around due to the increase in distance, and give a shot to Mr. Monomoy on top. He did well to hang around in the Lecomte after being near the pace, while horses like Enforceable and Silver State (2) had the benefit of the faster pace to close into (and Enforceable was clearly better than Silver State that day). I do think Blackberry Wine and Digital are usable, but they would be more backup type of horses to Mr. Monomoy and Enforceable, who would be my main two horses.
Risen Star Stakes (1st Division) selections:
1. Mr. Monomoy (9) 6-1
2. Enforceable (8) 7-2
3. Blackberry Wine (7) 5-1
Risen Star Stakes, 2nd Division (Saturday Race 13, Fair Grounds, 1 1/8 miles, 50 points):
Anneau d’Or (8) figures to be a sizeable favorite, and I do think he is the most likely winner. That being said, I have a hard time betting him at a short price, as while he did run good races in his last two, I do think he should have at least one win to show for it – he had every opportunity to pass Storm the Court in the Juvenile, and he just refused to pass him. If you want to take a shot against Anneau d’Or, the two horses that I prefer are Major Fed (7) and Lynn’s Map (9), in that order. Lynn’s Map was a disappointment in the Smarty Jones, but given that he was supposed to be pointed to the Lecomte and was rerouted to the Smarty Jones because of a poor draw, I can give him a bit of a mulligan for that performance. He better show something this time, though. I do prefer Major Fed, and he’ll be my top pick. I don’t know what he beat, but I liked the move he made to win his maiden breaker, and I do expect there to be a fast enough pace which could set up his closing kick. Liam’s Lucky Charm (5) is probably the second choice, but I’ll be against him, as his one two-turn race was his worst performance. He’s a good sprinter, but don’t like the distance for him. I could use Finnick the Fierce (10) underneath, but don’t see him as a true win threat.
Risen Star Stakes (2nd Division) selections:
1. Major Fed (7) 10-1
2. Anneau d’Or (8) 6-5
3. Lynn’s Map (9) 10-1
Southwest Stakes (Monday Race 9, Oaklawn Park, 1 1/16 miles, 10 points):
I'm hoping Gold Street (4) takes more money than his morning line (6-1 ML) indicates, as I am way against him in this spot. He had the softest of trips in winning the Smarty Jones, setting a fairly pedestrian pace on a wet track he likes on a day where it favored horses with early speed. I do think there should be a little more pace to challenge him between Wells Bayou (1) and maybe American Butterfly (5). I don't really like any of the speeds, but if I had to take one, I think I'd rather have Wells Bayou. But the two horses that stand out to me are Silver Prospector (2) and Answer In (9). Both are coming off of races where they did not have things go their way (Silver Prospector was coming from well out of it in that Smarty Jones; Answer In didn't have the smoothest trip in the stretch of the Springboard Mile). I do think Answer In did put in a better showing despite his troubles than Silver Prospector did, so I lean towards him of the two, but I would use both in multi race wagers. Don't like too much else in here - Chase Tracker (6) should take some money, but I haven't been terribly impressed by him. Shoplifted (3) is a horse that has finished ahead of Silver Prospector (Smarty Jones) and Answer In (Springboard Mile) in his last two starts, but he had better trips than each of them each time, and I didn't like how he finished off his Smarty Jones. Taishun (8) is a horse I liked a bit going into Sham last time out, but he disappointed in that race. If I had to pick a third horse, I guess it would be Taishun narrowly over Wells Bayou, but I don't see either of them as real win contenders.
Southwest Stakes selections:
1. Answer In (9) 3-1
2. Silver Prospector (2) 9-2
3. Taishun (8) 5-1
Good picks again. Answer In had a much tougher trip.
Picked a $54 winner today at shrp
$2.25 ROI for the year
that’s equivalent to winning like 65% of your sports bets
every horse win bet is the equivalent to -118 sports betting
just took a look and there were some big prices at the track today
Risen Star Stakes (1st Division) Recap:
Winner: Mr. Monomoy
This looked like the stronger of the two Risen Star fields, and that is how it played out, with Mr. Monomoy (9) turning the tables on Enforceable (8). I thought both horses ran well – Mr. Monomoy had a more favorable pace setup than he did in the Lecomte, but I don’t think he had a soft trip either, as he took an initial challenge from Blackberry Wine (7), then when that horse faltered, Digital (1) briefly made a move before Mr. Monomoy flicked him away and Digital began to fade. I liked the way he finished, running the final 3/8’s of a mile in 37.58 seconds. He’s earned enough points to qualify for the Derby, and I while I wouldn’t classify him as a favorite, I do think the half-brother to Monomoy Girl is a legitimate contender. Enforceable, meanwhile, didn’t really threaten the winner, but he was making up some solid ground to rally for second – I believe he made up about 5 lengths over the last five furlongs on Mr. Monomoy, who was finishing strong himself. I didn’t see anything to be discouraged with regarding his performance – he was just second best. Silver State (2) was a steady 3rd, but didn’t see much too be excited with him. I do think he had the better trip between he and Enforceable, so I think there is a bigger difference between those two horses than the ½ length would suggest. If I had to take a horse beyond the top two, I would look at Farmington Road (10), who I thought ran a similar race to Enforceable. He just got going too late, even compared to the late running Enforceable, and was forced very wide throughout the race.
Risen Star Stakes (2nd Division) Recap:
The biggest story with this race was Anneau d’Or (8) failing to show up. The only excuse I could come up with in-race was him being a little tight in traffic passing the wire first time around, and that might have caused him some discomfort. But he showed nothing beyond that, and against this field, that trouble should not have caused him to finish a well-beaten 9th if he really was that good. Beyond him, I’m just not that impressed with this race. Credit to Modernist (1) for winning, but the clock wasn’t kind to this race. Modernist was up on the pace with Ny Traffic (12), and won the duel with him; however, while the opening half miles were identical to the 1st Division, this division ran the final 3/8’s of a mile in 38.66 seconds – more than a second slower than the first division. Horses like Modernist and Major Fed (7) deserve to go further along on the trail, as they are lightly raced and can certainly improve. But they will need to quite a bit to be true contenders.
Southwest Stakes Recap:
Winner: Silver Prospector
This is the toughest race for me to judge of the three. There is certainly a lot to like, at least on paper. Silver Prospector (2) and Wells Bayou (1) ran fast races, earning Beyers of 97 and 96, respectively, and TimeformUS assigned them both figures of 119, which are the top figures of any prep race from this crop. The final time of this race was only 0.01 seconds slower than the Grade 3 Razorback for older males, which adds some validity to the strong speed figures. On the flip side, that Razorback had a much slower first half mile than the one Wells Bayou set in the Southwest, so comparing final times may not be apples-to-apples in this case. While Wells Bayou did set a quicker pace early on, he also wasn’t really contested, and was able to slow things down and get a breather after that initial half mile. Silver Prospector, meanwhile, was more forwardly placed this time out compared to the Smarty Jones, which put him in a position to strike, and credit to him for getting it done. Despite the overall slow third quarter, the top two did finish fairly well down the stretch, and created some distance between themselves and Answer In (9). I tend to lean towards this being a good race, but it might not be quite as good as the high speed figures suggest it is. I’d certainly prefer Silver Prospector and Wells Bayou over the horses in the 2nd Division of the Risen Star (and honestly may stick with Answer In over any horse in that race as well), but I probably like the 1st Division of the Risen Star slightly more.
Hey guys, going to Oaklawn later today. Any guidance you guys can give me? I don't even know where to look at who's racing unless I'm at the track.
KJs Nobility in the 5th