pinhooking

A group of 15 businesspeople from across the U.S. visited Lexington's horse country this past weekend to get their first taste of all the racing industry has to offer. The enthusiastic group represented Stony Point Bloodstock, which was launched last year by Chilly Bleak Farm's Jim Fitzgerald, Bill Baxter, a veterinarian from Grand Rapids, Michigan, and his son Matt Baxter, founder of a human resource technology startup called Wedge. The trio started the partnership with the goal of setting up a for-profit pinhooking group that would also create an experience...

There is not much Marc Tacher hasn't tried his hand at in the horse racing industry. The native of Puerto Rico breeds, buys and races horses; owns part of a racetrack; and pinhooks. He hopes to enjoy more pinhooking success Wednesday as he sends three juveniles through the ring at the Fasig-Tipton Gulfstream Sale. Growing up in Puerto Rico, Tacher was bit by the racing bug at a young age and made his first investment in the game early in his adult years. "I got into horse racing early. As...

Last year, an ongoing bull run in the North American bloodstock market carried the juvenile sector to a historic breakthrough. For the first time, aggregate turnover broke the $200 million barrier. The momentum felt so giddy that the next milestone, with the mean cost of a 2-year-old standing at $95,807, promised to be a six-figure average. No market, of course, can sustain perennial growth. Capitalism requires recession to regenerate value. While these cycles will ideally be mild, this particular market is always especially exposed to any incipient weakness. Very often,...

Joe Miller and Kip Elser are no strangers to success in the American bloodstock business. In a 15-year stint with Kern Thoroughbreds, Miller has helped manage the racing and breeding operations of Tracy Farmer and Len Riggio's My Meadowview Farm, while Elser's Kirkwood Stables' graduates include GI Kentucky Oaks winners Plum Pretty (Medaglia d'Oro), Keeper Hill (Deputy Minister) and Gal In a Ruckus (Bold Ruckus); the top-level winning half-siblings Sharp Cat (Storm Cat) and Royal Anthem (Theatrical {Ire}); and GI Breeders' Cup Classic hero Alphabet Soup (Cozzene). Always ready to...