Jerome Reilly: Investors forced to get off their high horses
The Age of Indulgence
Last Saturday, Ruler of the World floated around Tattenham Corner – the notorious switchback that makes the Epsom Downs the ultimate test of a thoroughbred's balance and poise – and struck decisively for home in the Derby.
Another Derby winner, his fourth, for the Master of Ballydoyle Aidan O'Brien and another jackpot for John Magnier and the other investors who make up the bloodstock powerhouse that is Coolmore.
From its limestone-rich headquarters in the heart of Tipperary, outside Fethard, Coolmore's reach is now global. With outposts in New South Wales, Kentucky and Versailles, outside Paris, Magnier and his cohort – including JP McManus, Michael Tabor and Derrick Smith – have reaped a bonanza. But even they must hanker for the halcyon days of 2008 when Coolmore was valued at €4bn.