Fortune smiled upon me in my first year.
Prior to my first season, I was lucky enough to snag two horses at auction who would both be immediately successful. Of course, I did not know that at the time. I was plenty nervous after spending $70K or $80K of my initial $200,000. That $120,000 remaining seemed pretty slim at the time. I wanted to leave myself as much as possible in reserves, hopefully to spare me the ignominy of bankruptcy. I remember figuring how long that money might last after entry fees and maintenance costs kept accruing.
But, as I said, it turned out that I was lucky.
After a bad first start, my 3yo colt Nightwing began to place regularly in the money. Predator, the massive, white 2yo colt, also became a consistent money earner. My financial worries were swept away forever when Nightwing won the United Arab Emirates Derby and brought home a check for $1,200,000.
Nightwing won $3.6 million that first season and Predator chipped in with $700k. I have never truly had much concern for finances since then.
The point?
Anyone can do it. Luck definitely plays a part. I bought War Machine at the auction for peanuts because no one else was bidding on him. Pure unadulterated luck. Anyone could have had him along with his Triple Crown and Eclipse Awards.
Of course, there is skill involved as well. Many stables are successful due to the adroit way they manage their stock and because of their eye for talent.
Just don't get discouraged and quit. Hang in there and ask questions. Sooner or later you are going to unearth a superstar. Then you'll fondly remember the good old days when you were worried about going belly up.
Prior to my first season, I was lucky enough to snag two horses at auction who would both be immediately successful. Of course, I did not know that at the time. I was plenty nervous after spending $70K or $80K of my initial $200,000. That $120,000 remaining seemed pretty slim at the time. I wanted to leave myself as much as possible in reserves, hopefully to spare me the ignominy of bankruptcy. I remember figuring how long that money might last after entry fees and maintenance costs kept accruing.
But, as I said, it turned out that I was lucky.
After a bad first start, my 3yo colt Nightwing began to place regularly in the money. Predator, the massive, white 2yo colt, also became a consistent money earner. My financial worries were swept away forever when Nightwing won the United Arab Emirates Derby and brought home a check for $1,200,000.
Nightwing won $3.6 million that first season and Predator chipped in with $700k. I have never truly had much concern for finances since then.
The point?
Anyone can do it. Luck definitely plays a part. I bought War Machine at the auction for peanuts because no one else was bidding on him. Pure unadulterated luck. Anyone could have had him along with his Triple Crown and Eclipse Awards.
Of course, there is skill involved as well. Many stables are successful due to the adroit way they manage their stock and because of their eye for talent.
Just don't get discouraged and quit. Hang in there and ask questions. Sooner or later you are going to unearth a superstar. Then you'll fondly remember the good old days when you were worried about going belly up.
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