You have to wonder whether these stories are based on truth, innuendo, or something else entirely, but they do however make for interesting reading:

The stories to which I refer appeared in yesterday's UK Daily Telegraph (Magnier stallions are hit by sales ban and Breeders to bear the brunt) and have spurned a rash of comment around the world.

The original article states "A sensational bust-up between the world's two biggest owners and breeders of racehorses, Sheikh Mohammed and Coolmore boss John Magnier, is threatening to destabilise the billion-dollar bloodstock industry.

"Sheikh Mohammed has ordered his advisers to stop buying any yearlings sired by Coolmore stallions.

"The ban, confirmed to The Daily Telegraph yesterday, is also being followed by Sheikh Mohammed's brothers - Hamdan, Maktoum and Ahmed - who are all major owners and party to the decision.

The Maktoum snub came into effect 10 days ago at Keeneland Sales. Although the Maktoums splashed out some $57 million, they did not spent a cent on any yearlings sired by Coolmore stallions."

Personally I think it is a tad sensationalist to say that an entire Industry threatens to be de-stabalised as a result of two groups having a difference of opinion (if that's what it is). Coolmore stand a large number of well-performed stallions, they sell a huge number of horses to a huge number of people and whilst they have no doubt historically benefited from the Sheikh's expansive spending habits, it would be foolhardy to suggest that the company would suddenly develop cracks in its foundations if such money was no longer forthcoming. If you do claim that you may as well stand up now and say that the Industry we have only exists because of the Coolmore and Darleys of this world (then duck). People seem to be overlooking the fact that the Sheikh DID spend US$57 million at Keeneland. Some vendors would therefore appear to have done EXTREMELY well as a result of the "falling out". If he had chosen to not buy Coolmore horses AND ignore everyone else's horses as well ... then I can see cause for the words 'threatens/destabalise'.

Locally I guess it may have a few people eyeing their Giants Causeway/Rock of Gibraltar investments and feeling momentarily anxious - but the local industry is bigger than 2 people. So don't start burning the sales entry forms and weeping into your mugs of coffee just yet. As a (somewhat remote but useful) comparative example - we have been threatened with bird flu pandemics in Asia for all number of years (there was another headline on the front of the South China Morning Post yesterday actually). If you believed the press we should all have died by now (and in a rather unpleasant manner let me tell you). I finally gave up worrying about it 5 years ago.

Don't forget that fear is a very powerful tool to inflame the public - or investors -and influence prices.