I love this line from one of our posters - my answer is that the image is not that far off! Well it's definately a trend that the smaller owners and trainers just can't make it due to high expenses and low purses unless they are extremely lucky and hit it big with a good horse they acquired for a modest price. It seems to me that racing mirrors what is going on with the economy in general - either you're very wealthy or you're poor, no middle class.
Of course there are exceptions and many great partnerships around to be a part of if you want to own a racehorse, but to make it economically comfortable for most people you have to own a miniscule percentage of a horse and that is just not the same as owning a horse yourself.
This is a good time for me to share my husband's revamped web site to reflect the new reality of being an "old timer" thoroughbred racehorse trainer. He is taking a new approach to make a living off his 30 years of experience in the business. Please check out http://www.jrsmithjr.com/ and let us know what you think.