Thoroughbred ownership requires involvement, opinion, and cooperation from many groups. Owner, trainer, vet, farrier...all people have an integral part in contributing to the success of the investment.
Owners perspective: An owner can have many different levels of understanding and education in the game. Some owners might just have deep pockets and consider the ownership of thoroughbreds a luxury, as if collecting art. A luxury owner will often request an agent to find the most fashionable sire, famous trainer, and biggest race venue, regardless of actual potential of the athlete. This type of owner often will not care what vet work is performed, how much they are charged for frivolous obscurities, or what a trainer is actually doing by meeting race conditions. Most trainers and agents dream of this type of owner however, they can sometimes do the sport more harm than good. Dumping good money in to fashion without researching the value is the equivalent of buying a Porsche with a Kia in the engine.
The complete opposite side of the spectrum for ownership is the obsessive, compulsive, "think I know everything" owner. The OCD owner will demand full page spread sheets of daily activity, insist that they know more about horses than any owner or trainer alive, and believe that even though they own a Kia it should be a Porsche. The OCD owner can also be bad for the sport because it can cause a ripple effect of negativity and slander for individuals working hard.
Point: All ownership and participation in this sport is appreciated. A common balance and fine line will hopefully be achieved with the general idea being to find the right team.
Trainer perspective:
The high profile trainer: The profile trainer often has a stable of hundreds of horses. A stable this large requires many assistant trainers in all different states. Essentially, the assistant is really the trainer so you need to know all about that individual and not just the headline name. Some assistants are actually better trainers for many reasons. Trainers can be extremely hot headed and evasive or very submissive. A certain trainer will comply with an owners request of daily updates whereas, some are old school and just don't want to be bothered.
The "pay the bills" trainer: A trainer has a small string (very few horses) for many reasons. If a trainer has a small stable they either A; prefer it that way so they can keep a close eye on each athlete they represent B; have not made a name for themselves yet or C; they do bad things and as a result, have a revolving door of clients. A small time trainer can be your best option or worst enemy. The cost is often times cheaper but for what reason? Believe it or not, some trainers (and agents and vets) still believe in doing things the right way. Often times the results do not end in high end celebrity status or income. However, if you choose wisely it could be a slow and steady income potential.
But on the other end, you could think you are getting an honest person and in reality they just can't get the clients and will lie through their teeth, run your horse in to the ground, and pad the bills just to pay the bills.
Point: Find the right team.
Agent perspective: A common scam among Bloodstock agents is dual agency. The practice involves an agent making money off both buyer and seller. It is a common practice and completely unethical because the agent should be dedicated to servicing one need or the other. Dual agency allows for to much gray area and untruthfulness.
The fashion agent: Bloodstock agents have usually spent years developing a reputation for having an eye to select talent. However, many people put there faith in the stereotypical third generation, male prototype. An agent with a big bank roll can be your worst nightmare because it allows a facilitation of laziness. A large bank roll means an individual does not need to work quite so hard to find true talent, they can just select "pretty". Pretty pedigree, pretty body...done and bought. An agent of this caliber is not always doing wrong however, they might be the best in the business.
The low end agent: The small time agents are small time for a reason. It takes years to establish a reputation for spotting talent, market trends, and proven return on investment. The agent is either small time because they haven't established reputation, haven't achieved a famous winner, or just don't know what they're doing. An agent can also be small time if they have a reputation for scamming clients.
Point: Find the right team.
A general summation. The world of racing is more of a team sport than most realize. Although we lack a general united leadership as found in most organizations, the sport lies heavily on teamwork. Until we can achieve one governing body, all involved must understand and be educated about the needs and demands of all parties involved so we can succeed! It doesn't matter if your motivation in this sport is for luxury and status, a lifestyle, paying the bills or love of the animal. At the end of the day the most important thing is finding the right thing for your investment so you get what you want!! The examples I mentioned are at extreme opposite ends of the spectrum on all ends simply to demonstrate how many variables there are in this game. The thoroughbred, owner, trainer, etc. are all living souls with their own unique thought process. It is imperative that you select the right team for your investment.
Horses really do have a personality. You have the jock club which includes the likes of Cigar, Kip Deville, and Service Stripes...they only know how to run, will not bond. And then you have the old mans club: Brass Hat, Perfect Drift, Well Armed, Lava Man....they only want to run. And then there is the diva club, boys that act like girls because their mood is a pain in the ass....perfect drift, any Roman Ruler baby, Quality Road. And finally you have the superstars that don't really need trained, just a place to hang out until they hit the track: Zenyatta, Blame, Ruffian, Secretariat, Man O War, etc....
Pay attention, invest wisely, ask questions, and enjoy!!!
Posted by: Jessica Maciejewski
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