Absolutely. It's an industry. They look at the cost of maintaining a horse for two years or less and training that horse for that amount of time, and figure those costs are much more attractive than an additional three years before they can hope to get a return on an investment.

However, IMO, they need to also examine the long term costs of their current practices. They are doing no genetic favors to the breed in the long run.

Also, by allowing a longer period for the horse to further develop, investors will be in a better position to see what the more mature horse consistently is able to do (at the track). Right now, when investing in a racing prospect, buyers are mostly motivated by the pedigree (and, if they know a bit about conformation, they can guess if the horse will develop into the preferred conformation for racing). Investing in race horses as the auctions currently exist is about on par with betting on them at the track. It's not the wisest investment, IMO. By betting on the pedigree (and some other, more minor factors to them) in registered T-breds, one is virtually guaranteed to have a highly inbred animal.

Also, the number of track rejects is high (other equestrian sports enthusiasts buy these horses very cheap, relatively). So, someone has spent a large sum of money at a racing auction, only to sell that reject at basement discounts.

These are some other reasons why many wonder about the current practices in T-bred racing.

(BTW, I agree with what PETA can do to itself and where they can go. They have a history of practicing terrorism.)

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I am an American. That's the way most of us put it, just matter of factly. They are plain words, those four: you could write them on your thumbnail, or sweep them clear across this bright autumn sky. But remember too, that they are more than just words. They are a way of life. So whenever you speak them, speak them firmly, speak them proudly, speak them gratefully. I am an American. ...a tradition