Joe Rosen is the president of Summit Equity Investments. Prior to co-founding Summit, he was a principal with a private investment partnership that invested in private equities, public equities and real estate. Joe also served as a deputy district attorney for Los Angeles County. He sits on the board of the Jewish National Fund in Los Angeles and is an advisor for the After the Impact Fund, a group that raises funds to facilitate comprehensive treatment and provide a support network for military veterans, professional athletes and their families.
Can you tell us about the first horse you ever owned?
I purchased a small percentage (a nose) of a package of three horses back in 2002. The group was put together by Billy Koch who I have known since grade school. One of those horses ended up winning one of its first races and went on to win the Breeders' Cup Mile in 2004, his name was Singletary (earned more than $1.75 million). The partnership also went on and it was the beginning of Little Red Feather Racing.
How did you get started in Real Estate?
After practicing law for several years as a DDA in Los Angeles, I decided to make a change and partner with my brother-in-law and move on to real estate, specifically owning and operating apartments and commercial buildings.
What do you love most about horse racing?
What is not to love. The excitement of seeing a beautiful animal run as fast as he/she can be an amazing sight. Throw in people cheering and the fact you can win money if you can predict the outcome and it is never boring.
What is the main reason you co-own with others?
I am asked this all the time and the answer is simple entertainment and cost. I can't tell you how many times I am asked when is my next horse running and can I go to the races with you. Win or lose it is always exciting to watch your horse run. And I would rather stretch my entertainment dollar by owning a small percentage of many horses than all of just one horse. Plus, the more horses you own no matter the percentage, the more opportunities you have to take that all-important winner's circle photo.
If you were horse racing commissioner for a day, what one change would you make?
I would find some way to attract a larger audience to the sport and most importantly to the track. Horse racing is the sport of kings and for big races in the early part of the 20th century everything would stop so people could listen to the radio call of a huge race. We as a community need to find a way to make this the norm again. Promotions and giveaways only go so far. We need to get back to the day when the average person on the street recognized a horse's name as easily as they recognize the names of athletes in other sports.
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