Pinhooking

Question
I have had a bottomless passion for racing and TB horses for as long as I can remember.  In my late 40's now, I have just recently completed an MBA in finance and completed my undergrad at Colorado State University with a degree in Equine Science.  I have never been interested in a career in breeding or training but am interested in how a person becomes a pinhooker.  It may well be too late for me, I know, but I'm still curious.  

Back in the early 90's, I moved to Lexington and worked as a groom for Three Chimney's and Pin Oak Stud but decided that I needed a degree if I wanted to make a real difference in the racing world.  My plan was to return to KY after graduating from CSU but I was unable to find any job opportunities so I opened the first lay-up facility in Colorado and operated it for three  years.

Sorry to be so long winded but I wanted to be sure you had a little background on me and knew how motivated I've been.  I am now an account analyst at Wells Fargo but have not let go of my dream and I imagine that I will always hold out hope for my big break.  Do you just have to be born into the racing industry to have a career?

Thanks for your input!
Judi

Answer
Hi Judi:

I truly admire your passion; without it, one usually has nothing in this sport.

I must admit that I am not up to date on the latest figures relating to the auction prices for yearlings and 2yo's.  For a simplistic, though logical assessment, however, figures from the early part of this decade are probably valid.  At that time, the median price for a yearling at auction in North America was slightly more than $10,000; 2yos came in at slightly under $20,000.  Depending on your cost structure, work ethic, training-and-breaking tactics and a whole host of other variables (like the economy), that $10,000 "cushion" may, or may not, be viable.  

Personally, and rationally, I view Pinhooking as an uphill battle that takes a lot of money and determination.  That being said, it is certainly not an impossible task to make a living at it. If you have patience, a sharp eye, and a keen sense for what others may perceive as valuable assets for a racehorse, then you may have a chance to succeed.  And in many cases, you may not actually lose money, you just may not make much of anything -  in relation to the investment of time and energy.  Your background seems fine; you can handle the horses and, if you were successful in your endeavors with Pin Oak and Three Chimneys, have several years of experience at some of the highest levels.

I'd think long and hard about a compromise (if at all possible), though:  keeping my job while still following my passion.  Hire others for the "grunt" work, start off slowly (just a few horses), and keep a cash-flow (job) going while seeing how things progress.  Then reassess the endeavor after a couple of years.

Hope this helps.

Good Luck!

Brad Adler
www.superthoroughbred.com