Quixote vs Myracehorse.com

I was surprised that Myracehorse.com sold old all its horses very quickly. All that is left is a offer to buy .001% of 14 yearlings for $50. I really did want to buy a share in their Honor Code filly, but I missed my chance.

Let’s look at their group:

Some of these were bought in partnership with Spendthrift Farm, the price I show is the total paid at auction

1. Into Mischief – Cayla by Cherokee Run – $600,000, ok mare, not a IM fan, C
2. Uncle Mo – Margaret Reay by Pioneerof the Nile, $400,000, good mare, not a UM fan, C+
3. War Front – Key to My Heart – $360,000, great mare, decent turf idea, expensive, B
4. Empire Maker – Tapitry by Tapit – $360,000, solid mare, reasonable, B+
5. Frosted – More Oats Please by Smart Strike, $250,000, solid mare, my favorite, A-
6. Gun Runner – Classofsixtythree by Include, $250,000, good mare, B
7. Not This Time – Awe Hush by Awesome Again, $220,000, ok mare, expensive, B
8. Honor Code – Exonerated by Johannesburg, $210,000, good mare, A-
9. Into Mischief – Latte Da by Tiznow, $195,000, good family, B
10. Bernardini – Midnight Sweetie by Midnight Lute, $185,000, decent family, B+
11. Looking at Lucky – Ambleside Park by Fusaichi Pegasus, $115,000, good mare, B
12. Kantharos – Spieghtstown Belle by Spieghtstown, $85,000, sprint oriented, C
13. Classic Empire – Consecrate by Pulpit, $80,000, ok mare, good price, B+
14. Connect – Athenian Beauty by Corinthian, $50,000, too sprint oriented, B-

The more I looked, the more I liked this portfolio. Almost all the mares were decent stamina oriented horses, and some of the families were interesting. Compared to the “empty mare” strategy of some of the other groups, this portfolio was refreshing. This is actually a decent portfolio of “conventional” horses. I would prefer not to chase the Into Mischief’s, but the other choices were above average

In fact, I just bought .001% of this portfolio for $50. The transaction took about 2 minutes to complete. Maybe this is the future of partnership investing. I am still concerned this group is a little over-promotional, and I am not 100% sure I understand their financial business model.

I did just get 14 decent horses to follow and keep track of. For $50, that is a good deal. I am looking at this as an educational experience.

So they paid $3,360,000 for 14 horses.

To compete with them I will take my 9 that I used vs Donegal, and add a few more:

1. Pioneerof the Nile – Uptown Twirl by Twirling Candy. $625,000 my favorite
2. Gun Runner – Truthful by Bodemeister $420,000 from Centennial
3. Curlin – Isabella Sings by Eskendereya $350,000 from Donegal
4. Air Force Blue – Secret Agenda by Malibu Moon, $250,000 from Eclipse
5. Summer Front – Silver Reunion by Harlan’s Holiday, $250,000
6. Hard Spun – Wave the Flag by Empire Maker, $140,000, Donegal

1. Honor Code – Beat the Drums by Smart Strike $260,000 from Centennial
2. Midnight Storm – Tasunke -by Indian Charlie – $180,000
3. Twirling Candy – Unique Ride by Tale of the Cat $150,000
4. Gormley – The Best Option by PleasantTap – $140,000
5. Connect – Vindy City by Vindication – $120,000 from West Point
6. Maclean’s Music – Dazzling by Galileo – $100,000
7. Air Force Blue – Celebrity Cat by Storm Cat – $145,000
8. American Pharoah – Moth by Galileo – $200,000
9. Classic Empire – Miss Mambo by Kingmambo – $100,000

My portfolio is about $3,400,000

That portfolio is cheating because I use other partnership horses. Let’s try for a $3,400,000 portfolio with no cheating.

No Cheating

1. Pioneerof the Nile – Uptown Twirl by Twirling Candy. $625,000, my favorite, Presidential, $175,000, 2nd in Texas Derby
2. Medaglia d’Oro – Dame Dorthy by Bernardini, $650,000, Principe d’Oro $45,000 MSW winner at AQ
3. Arrogate – Star Act by Street Cry, $350,000, Oglethorpe $18,000, 2nd MSW AQ
4. Union Rags – Giant Mover by Giant’s Causeway, $330,000, Bold Courage 3 works at Ellis
5. Gormley – Crossing the Tape by Johannsburg, $270,000, Celestial Finish, $54,000 allowance winner at FG
6. Summer Front – Silver Reunion by Harlan’s Holiday, $250,000, Ever Summer, $8,000, not working
7. Honor Code – Private Gift by Unbridled, $240,000, no races
8. American Pharoah – Moth by Galileo $200,000, Mazuma, $47,000
9. Midnight Storm – Tasunke -by Indian Charlie – $180,000, Swing Shift, $43,000, MSW winner at GP. 10th in Jeff Ruby Stakes
10. Twirling Candy – Unique Ride by Tale of the Cat $150,000, Portsmouth, $38,000 still trying MSW as Canterbury
11. Air Force Blue – Celebrity Cat by Storm Cat – $145,000, Balinese, $18,000, 2nd in MC at Aqu
12. Gormley – The Best Option by PleasantTap – $140,000, Camaro, $3,000, still trying at Hawthorne
13. Classic Empire – Miss Mambo by Kingmambo. $100,000, Classic King,$3,000, still trying at Indiana
14. Maclean’s Music – Dazzling by Galileo – $100,000, Raghadan, no races
15. Gormley – Voodoo Lounge by Pleasant Tap – c – 5/9, $60,000, Rikio, $1.000, just starting at KE
16. Summer Front – Summer Flirt by Bernardini, – f – 3/10, $50,000, Blazing Summer, $53,000, allowance winner at Indiana
17. Mastery – Golden Production by Exchange Rate – f – 2/1, $60,000, Golden Gal, no races
18. Unified – Eleganter by AP Indy – c – 5/12, $50,000, Majority Partner, $4,000, just starting in NY
19. Lemon Drop Kid – Gotcha Last by Pleasant Tap – c – 4/18, $40,000, Lemon Last, no races
20. Honor Code – Ermine Slippers by El Prado, c – 2/17, $40,000, PV Rengade, working at BEL

This is a $3,400,000 portfolio with no help from other partnerships. My average price is a little lower, so I have more horses. These are stamina sires bred to stamina mares, or as Liz Crow calls them “plodders bred to plodders”. The mare ares usually runners and producers and often the 2nd dam is a strong stamina influence.

I challenge myracehorse.com to a duel at 20 paces.

I wish I could by 1% of this portfolio for $33,000, but throw is $50,000/horse in expenses and it would be $43,000.