In August, I posted that I purchased a small stake in a thoroughbred race horse named Work of Art (WOA). The plan was to race at Saratoga, NY in September, but the horse was not ready at that time. Well, tomorrow is the day for his debut at Belmont in NY and a chance to see if WOA has what it takes. His workout times were very good and he showed ability. WOA will be running in the 6th race on the turf for a $60,000 purse with jockey Eric Cancel at the reigns. The winning horse typically keeps 60% of the purse and the remaining amount is distributed down to 6th place. From the winnings, there are numerous expenses, including the jockey’s and trainer’s share. A win at this level to start would be very positive and would position the horse to run for higher purses in the future. My cash outlay so far is $1,582 for my 2% share, plus $360 to cover estimated expenses through December. I will provide an update of the results tomorrow. Unfortunately, I am not able to travel to Belmont for this race so I will be watching WOA on the television.
Some quick other investment notes:
A. Fundrise just deposited a 3rd quarterly dividend of $60 into my account based on the $3,000 in their real estate investment trust.
B. The iPO investment of $4,000 seems to be status quo based on the updates given by the company as they continue to build shareholder value.
C. Gold prices have rebounded to $1,306 an ounce so that investment is nearing break-even.
D. After the significant gains from the St Pete condo, I am spending time researching geographic areas for my next purchase. I was very fortunate to have sold prior to Hurricane Irma hitting that area. Weather-related problems are part of the equation when investing in tropical destinations, but I believe the potential gains are worth the risks if the numbers make sense.
Thanks for reading.