This may sound like an arrogant response, but the truth of the matter is if you need to ask about how to get in the business, then you are not ready to get in the business. If you need to ask, it means that at this point you don't know enough about the business yet. I wouldn't invest until I was pretty much an expert on the business. When I bought my first horse, I knew so much about the business that I didn't need to ask someone how to get in the business. I knew exactly how to get in the business. I'd been going to the track every day for several years. I pretty much knew how every trainer out there operated. I knew who the butchers were and I knew who the ethical trainers were. I knew that there were a ton of people out there from trainers to partnerships that would rip me off in a second if I gave them the oppurtunity. I obviously would not give anyone the oppurtunity.
I wouldn't let someone pick a horse for me and I wouldn't let someone pick a trainer for me. I knew all the horses out there and I knew all the trainers out there, so I would pick the horse and I would pick the trainer. That way, I would be in charge and I would take full responsibility for the outcome. For me at the time, I thought the best way to get in the business was to claim a horse with a couple of friends. It's not easy to find a good horse to claim. Most of the claiming horses with the best records are the most unsound horses. The most dangerous horse to claim is usually the favorite, who usually has a great record. Many of these horses have tendons or suspensories and they could break down at any time. I'm obviously not going to claim a horse like that. I'm not going to claim a horse that may never run again. If the horse never runs again, I will lose my entire investment. If I'm looking for a claimer, I'm going to look for a horse who is reasonably sound who may have a couple of issues. It may be a horse who is being mishandled and I think my trainer could move the horse way up. I actually claimed a 35-1 shot once. I thought he was a much safer claim than any of the favorites because he looked relatively sound. He was one of the best claims I ever made.
Anyway, the point is that it is very difficult to make money in the horseracing business. If you really know what you're doing, I think it's a very good investment. If you're not an expert, it's very tough to make money. There are a lot of people out there who will try to take advantage of you. Everyon has a lame horse who they will try to unload on someone who is new to the business. Most of the partnerships out there are terrible investments. There may be a few good ones out there, but there aren't many. Most of them are either incompetent or crooked. It's usually one or the other and sometimes both.
What you are doing right now is smart. Ask questions and do a lot of research. You have to be careful who you listen to though. That's why it's important to get a lot of opinions. In the end, you need to do what makes the most sense to you. Ideally, by the time you do put up some money, you will know more than the people you were asking advice from.
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