Keys to Success
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Copyright © 2006, Blood-Horse Publications (www.BloodHorse.com) Book Excerpt By Deirdre B. Biles Keys to Success he traditional strategy in pinhooking is on Muhtarram, and grade II winner North- times thousands, of horses. It also requires to buy low and sell high. Some people ern Afleet, the sire of champion Afleet Alex. knowledge of numerous factors, including do make a living — and a very good Moynihan also buys pinhooking pros- a horse’s birth date, the age of its dam, and Tone — acquiring top prospects, based pects and horses to race for his clients, who the physical appearance of other offspring on conformation and pedigree, for big have included wine mogul Jess Jackson and by its sire, dam, and broodmare sire. Some bucks and then reselling them for even the late Bob Lewis. Moynihan’s pinhooking of that information is acquired through higher prices. But that is an extremely risky successes include Gotham City. In 1998, the years of experience while some can be venture that can place an investor in finan- agent advised Martin Cherry to purchase the found in a publication such as Blood-Horse cial peril when just one horse suffers an in- son of Saint Ballado privately as a weanling. Publications’ Auction Edge, which contains jury, fails to work fast, or doesn’t develop The price was $150,000, according to Jeff the pedigrees of horses in a sale and a vari- into a physically attractive individual. Schwietert, whose father, Carl F. Schwietert, ety of data about those animals, including Most pinhookers look for bargains when bred Gotham City. Two years later the Jerry auction prices and race records of their fam- they purchase their prospects. And that Bailey Sales Agency resold the colt for $2 ily members. means they probably will have to sacrifice million at the Barretts March select sale of “There are some families that I know that one or more aspects of conformation two-year-olds in training. produce yearlings that are kind of small, and/or pedigree in their selection process to Moynihan also has been an adviser in but by the time they get to the two-year-old keep the amount they spend low enough to the purchases of such horses as 1997 Bel- level, those horses are normal in size,” improve their chance to turn a profit. mont Stakes winner Touch Gold, 1999 Moynihan said. “A lot of times you can A popular strategy for pinhooking mares Horse of the Year Charismatic, and grade II make some pretty shrewd buys if you know involves claiming runners that have attrac- winners Exploit and that kind of thing. You see a lot of top hors- tive pedigrees but lack impressive Henny Hughes. es at the two-year-old sales that when you racing records. With young horses go back and look at why they were inex- that have never been to the races, the From The Blood-Horse pensive as yearlings, it was because they process is a bit more complicated. Authoritative Guide to weren’t big, mature horses. In between the There are no hard and fast rules. Pinhooking© 2006. time the people bought them as yearlings But several pinhookers — Headley Available in November and sold them as two-year-olds, those hors- Bell and Marette Farrell of Nicoma for $16.95. es underwent a tremendous amount of Bloodstock in Kentucky and Kentucky To order, call growth.” bloodstock agent John Moynihan — of- 800-582-5604 or visit In addition, “I’ve had great luck buying fered some general suggestions to keep ExclusivelyEquine.com. late foals,” Moynihan said. “Touch Gold in mind when seeking a diamond in the was a May 26 foal, and Exploit was a May rough. 25 foal. But you have to be careful. When I Bell and Farrell enjoyed success in As pinhookers, Bell, buy expensive late foals, I make sure their 2006 with a pair of two-year-olds: Ex- Farrell, and Moynihan leg conformation is as perfect as perfect can hale, a son of Millennium Wind, and a all face tough tasks. They know be. Because of their lack of maturity, they Deputy Commander—Regrets Only colt. buyers are picky and want the equine can change quite a bit compared to early They bought Exhale for $100,000 as a year- equivalent of the sun, the moon, and the foals.” ling and resold him for $800,000 through stars. That package includes outstanding In evaluating the conformation of a Florida pinhooker Niall Brennan. They ac- conformation and a black-type pedigree. In young horse as a pinhooking prospect, ac- quired the Deputy Commander colt for a two-year-old, shoppers also want a horse cording to Moynihan, you need to keep in $105,000 and resold him for $475,000, also that works fast. The buyers who pay premi- mind the rate at which weanlings and year- through Brennan. um prices also want quick colts with blood- lings develop and their stages of growth. Bell and Farrell also buy horses to race for lines that contain some stamina and bodies “The thing I can’t overemphasize is that their clients and offer advice on matings. with enough scope (length of body and there can be an unbelievable amount of Through their various services, they have legs) to suggest that they can win the Ken- change conformationally from a weanling been associated with such successful run- tucky Derby. to a yearling,” he said. “They change in ners as 2006 Kentucky Derby Presented by Yet, at the same time, Bell, Farrell, their knee conformation, and they change Yum! Brands winner Barbaro, 2005 NetJets Moynihan, and others like them must in the degree of their correctness. The year- Breeders’ Cup Mile winner Artie Schiller, somehow find the horse that has all those lings are pretty much set up. What you see 2003 Woodford Reserve Turf Classic Stakes credentials for a price that doesn’t suggest it when you’re buying a yearling to pinhook winner Honor in War, 2000 Del Mar Oaks is destined for greatness. as a two-year-old is pretty much what you winner No Matter What, European champi- That requires looking at hundreds, some- are going to get.” 38 THE BLOOD-HORSE INSIDER’S GUIDE Weanlings that are “toed out and kind of in at the knee” often will improve in their conformation, Moynihan said. “As their chest broadens, they tend to come around into becoming more correct.” Another key to evaluating a young horse as a pinhooking prospect is understanding what he will be asked to do when he is resold. If you are buying a weanling, how he walks is important because that is how buyers will judge him as a yearling. “You want a good mover that has a good overstep, which is when the front foot lands in a particular spot, the hind foot will step beyond that,” Farrell said. It is also important that whatever confor- mation faults the weanling has, they are not so severe that he can’t “walk through” them. What that means, according to Far- rell, is that the hind feet and the front basi- cally walk in the same path while the horse is moving forward. “That shows an economy of motion,” she explained, and it means their forward motion is going to be so much better in a race. It’s a clean forward movement as op- BENOIT & ASSOCIATES posed to a foot swinging out there because The 2005 stakes winner What a Song sold for $95,000 when they gallop, it’s going to be even far- as a yearling and $1.9 million as a 2-year-old ther out there. A horse can be offset or ro- tated, but its foot can still land in a true you watch that same horse breeze and he most every horseman understands, but straight path.” moves beautifully, then the worry you had each uses different words to explain it. Carl If you are buying a yearling to resell as a at the yearling sale is probably unwarrant- Bowling, a Florida-based pinhooker, once two-year-old, an impressive walk is impor- ed at that point. You can see for yourself offered this definition: “Balance is like a tant, too. But you need to remember that he that the horse is doing fine.” teeter-totter — a plank that has the same also will be asked to breeze fast for a short The severity of a conformation flaw and weight on both ends. Look at a photograph distance and to look athletic while doing it. the build of the horse are other factors of a horse from the side. If you could cut off “With yearlings, you’re going to look at Moynihan takes into consideration when the head and neck and switch them to the power from behind; that’s number one,” deciding whether to buy a horse with a con- other end of the horse, they would look like Farrell said. “They’re going to have to go as formation flaw. they belonged there. You don’t want a fast as they can for an eighth of a mile or a horse with a big front end or no rear end or quarter mile, so you really want a strong a horse that has a big hip or a little front hip, a strong gaskin, a strong hock. You “I’ve had end. It should be like a hotdog bun, the also want good feet and everything moving same on each end.” in a straight line. They also need to have a great luck In general, Moynihan, Bell, and Farrell good shoulder because they will use that agree, it is easier to sacrifice pedigree than shoulder to stretch out and look good on buying conformation when selecting pinhooking the video (of their workout).