I am about to start utilizing my Superannuation to purchase a few shares in different race horses and was wondering if anyone had any hints or tips about trying to pick the right horse. I know that any horse that has the famous Danehill attached to it seem to go well but you have to weigh up the cost with the possible return. One big benefit that I can see with getting into syndication is the fact that you get free tickets to race meetings when your horse is running. I thank you for any assistance!!

[ This Message was edited by: photofinish on 2004-04-13 16:56 ]

in advance i apologize for this but this seems to me to horse racing's version of walking the plank.
super is sacred and should be used with great respect as i am in the super age bracket although still working but it is likely to be my last throw of the dice.

as becareful would say (i wonder where he is) be careful.
good luck.

Photofinish I can't give you extensive advice on picking the right horse, but I can comment on picking the right trainer. I assume or hope that you have had experiences with certain trainers or have friends who have in the past, because I tell you the one I have now I am about as dissatisfied with as I possibly could be. I have a friend who also bought a 2YO at the same time as me under a different trainer and when I compare the information he receives with the information I receive, they are poles apart.

Good luck with it mate
ShoeIn

If you are thinking of useing this money to buy horses as an investment....forget it....unless you are lucky enought to come accross a good horse it may end up costing you money......if you are buying horses as a hobby or a pasttime like playing lotto or something...them thats fine enjoy what it is to own a horse but don't ecpect to much....may be you will find that champion.....i come accross a website a few years back that said on average there is $10.000 prizemoney for each horse in Australia....with the likes of Lohnro/Private Steer/Dance Hero....that doesn't leave much for the rest of them...if you are after an investment read as much as you can about the way proffesional punters operate....and try that...if you are not gready and are not after a get rich quick system you make some money

yes have a go (nothing ventured nothing gained) thier going to tax the .... out of your super anyway!

how would you feel if all those people told you no no no and you find out you have just lost thousands and thousands?

the most important thing in life is to give it a go !but! do some intense homework first,breeding,trainer,scans of the bone structure,history,a full vet check,e.t.c
yes thats right you get copies of the scans if you ask.......a football coach spent pittance on a horse and is now rolling in the money for a long long time.

thier is a wealthy guy in sydney who is operating a joint venture of 10 people who invest 50,000 each to buy a rather expensive horse ?if the horse does not run to expectation the next option is breeding which can produce some serious dollars even with a moderate performance...i say give it a shot and all the best on your adventures.eaSY PICK

Don't even think about using these precious funds this way.

I once joined a syndicate of 10 members that brought $2 Mil in horseflesh. The cost with interest was way over $200,000.

My main regret was that I banked the lousy $69 cheque. That was the only result.

I still own horses, and pacers only because the damn things keep dropping foals.

Forget it - it's the Sport of King's and you need a King's income to own them.

not trying to knock the enthusiasm
all am saying is that at superannuation age the options to try a new career are limited.
if the super pool is seriously affected then could inhibit a more comfortable retirement.
its an area that i will not be going at my stage of life.
i will continue to enjoy a few punts and keep interested in the sport of kings.
but not get too involved.
its a serious step out of superannuation and one that has a fluke's chance of being profitable.

I would be very careful about investing in this area through a self-managed super fund, particularly now that the tax office have indicated an eagerness to monitor compliance with superannuation legislation. A big no-no for super funds is to breach the "sole purpose test", which basically requires an investment to be solely for the purpose of providing retirement benefits for the members. An investment in racehorses (aside from the fact that it is a very risky class of investment, probably not appropriate for super) provides benefits to the members in the form of attendance at the races and pure enjoyment, which is likely to breach the sole purpose test and result in the fund being non-complying. Non compliance can mean that you send 47% of the value of your fund to the tax office. I suggest you discuss your plans with your accountant before making any investment.

if you consider the money you invest (invest should read longshot gamble)in horse flesh as lost forever,never to be seen again then go for it and enjoy the experience,its great fun.ive owned a few horses and lost money on all of them.i guess what i am trying to say if you want a pastime that nearly guarantees that you lose money ,buy a horse...

Thanx to all who have replied. It gives me a lot to think about. I think that maybe for the first horse I will keep the costs down by entering into a syndicate(more than 10 shares) Cheers