While many questions regarding the Coronavirus pandemic remain unanswered, and with a stock market experiencing extreme volatility, there is continued uncertainty as to what could happen in our industry over the next few years. But many people in the industry have been through such ambiguity before. We sought the advice of industry leaders who successfully made their way through the Great Recession, and we asked what they learned from it and how they will use their experiences to advance through the coming years.
VIVIEN MALLOY, Edition Farm
It's a very strange time for people who breed and sell commercially because there are so many unknowns. The cancelled Saratoga sale is the most disheartening thing of all because it's always like a big party. Everyone you talk to throughout the year by phone, you finally get to see in person. And now that's not even possible. I don't know when I'm ever going to start shaking hands again, if ever.
On the other hand, it was a blessing that the biosecurity measures required for Coronavirus weren't a big deal for us. At the farm, we already have everything- hazmat suits, gowns, masks, slippers, and gloves, because we're so used to biosecurity with our foals. It was really life as usual.
I've always heard that the government has warehouses full of clothing, blankets, tents, and anything you could imagine in case of war. So I think we have to think of Coronavirus as a war. We need to be ready and do everything we can to prepared. When you're prepared, you don't feel as vulnerable. You don't feel as overwhelmed by the things you can't control.
It's funny because sometimes people ask me what my game plan will be this year. And I tell them that it's just the same old thing. Pray you have healthy, perfectly-constructed foals, and then bring them up properly. Sell them for a decent price, don't go for the moon, and then make sure they go to good people that give them a chance to do their best. When they do their best, that reflects on your mare and her family. As far as making a fortune, that's not the point. Your heart has to be in it and you have to have the desire and the willingness to work really hard. But it's well worth it.