American Pharoah shares secretly sold

American Pharoah shares secretly sold; racehorse owner Zayat sued for $23 million

"The move came after a New York investment group filed a lawsuit in Lexington this week seeking at least $23 million dollars from Zayat, accusing him of selling breeding shares to 2015 Triple Crown and Breeders’ Cup winner American Pharoah that were being used for collateral on outstanding debts."

I remember back in the '80s during the Nothern Dancer era, when buying and selling thoroughbred horses was practically a new form of currency. Even the WSJ ran regular stories on the wisdom of investing in TBs and even delving into the tax benefits of same. Well-to-do Dubai big wigs would fly into Lexington and buy up $20 million of yearlings in one Keeneland session. Nelson Bunker Hunt and George Steinbrenner could be seen making the rounds there.

If I were still in business, I'd see this a positive indicator that "Horse Trading" is back in style.