AAP
Melbourne Cup favourite Americain came behind rival Dunaden in the Melbourne Cup parade but owner Kevin Bamford wasn't worried.
"We can live with it today," he said as the parade got underway in Melbourne on Monday.
Dunaden took out last year's Cup while Americain, winner in 2010, finished fourth.
Mr Bamford knows the defending Cup champion is his biggest threat, but he also has his eyes on competitors who have crossed the seas to race.
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"All the imports we don't know about," he said when asked who he saw as the biggest threat.
Master trainer Bart Cummings, who has two runners as he chases a 13th Cup win with Sanagas and Precedence, had no such concerns.
"I can't think of any threats," he told AAP.
Mr Bamford and Mr Cummings were among the dozens of members of racing royalty who turned out for the parade that stops a city ahead of the race that stops a nation.
Joining them were tens and thousands of people who had come from all over Australia.
Ros Dodd and Jane Savage came from Adelaide to attend the Cup.
Bess and Bryn Savage have been staking out a front-row spot on the corner of Bourke and Swanston streets since just after 10am.
They travelled from Western Australia as part of a group of 16 to watch the 2012 Melbourne Cup.
"We love it and we love Melbourne," Mrs Savage said.
"We came about five years ago," Mr Savage said.
"We really enjoyed it."
? 2012
AAP
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