- I have learned that writing this blog has improved my educational process. There are dozens of things I would have already forgotten if I did not have written record.
- I have invested in 4 partnership horses. Quick Tempo has bee quite successful, and the other 3 are works in progress. I liked the process that Dare to Dream Stable used to select a horse from the March Ocala sale, so I took a chance with them. It has been a great learning process to watch how QT’s brief career has been managed.
- I have really learned how to evaluate and compare each of the offerings of the larger partnership operations. I always watched West Point, Eclipse, Donegal, Centennial, Ten Strike, and Starlight from a distance, but now I have a specific understanding of how they operate.
- I have learned a great deal about the smaller partnership operations. From the medium size guys like Little Red Feather, all the way down to the one horse operations like Blue Streak or Bloodlines, I have carefully watched how each of them do business.
- I have begun to develop a horse selection strategy. I have watched what the “big guys” do, but i have also included some of my own opinions into the process. I understand the bias in the industry toward speed/precocity, but I continue to find value with an approach that emphasizes stamina. I have had great discussions with Jerry Crawford at Donegal, and Don Little at Centennial, about horse selections strategies that emphasize stamina. I continue to find similarities between selecting horse and selecting stocks for institutional investors.
- I selected some successful horses on paper from the first sale I ever watched. Get Her Number was $45,000 selection from the Ocala sale, and he went on the win the Grade 1 American Pharoah Stakes at Santa Anita. Brooklyn Strong was a $5,000 purchase at the Ocala sale, that won the Sleepy Hollow Stakes at Belmont. Maybe that was just beginner’s luck, but it does show that good horses are available at relatively inexpensive prices.
- I have watched the yearling sales, and selected many horses to follow. I have considered a variety of different strategies and picked horses for each strategy. I am leaning toward yearlings, rather than training sales horses, but I have not made that decision yet.
- I came very close to investing in a West Point colt by Connect, and the Eclipse filly by Air Force Blue. If either of these horses are successful I will be very sorry. If the economic outlook had been a little better, I would have been an investor. I still have some small partnership yearlings to consider.
- I leaned about the process of buying mares in foal at the Keeneland November sale. In the long run this might be the best way to buy horses, but it will take incredible patience.
- I have improved my handicapping skills by learning so much about the sales process. I now have a much better understanding of 2 year old races.
Published by Gregg Jahnke
I was a professional investor for over 30 years. Now I spend my time trying to pick horses rather than stocks.
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