Chris McGrath

Returning to New York from a winter working in Louisiana, the first since his emigration, Ignacio Correas appeared literally a shadow of his former self. His former vet came from the old country and found that Correas, this blueblood of the Argentinian Turf, had lost around 30 lbs. "What are you doing here?" his visitor asked. "Why don't you go back? I mean, look at you." "Don't worry," Correas replied. "I'm going to be okay." Now, 23 years later, he sits outside the Keeneland barn that houses the leading turf...

Needless to say, all four tried to reject their billing. Between them, after all, they have spent the better part of three centuries dealing with that vehicle of humility, the Thoroughbred. To everyone else present, however, the opportunity to tap into the experience of four such sages as Bill Landes, Frank Penn, Tom Thornbury and John Williams fully justified the Kentucky Thoroughbred Farm Managers Club in promoting their latest meeting in Lexington as "An Evening with Legends." Each, moreover, could be consoled that one of the first tasks addressed--an acknowledgement...

He has been here longer than just about any of them, albeit he arrived in 1978 presuming himself to be only breaking a longer journey. One breeding season in Kentucky, and then it would be off to Australia. Having instead become a pioneer of a remarkable Irish diaspora, Robbie Lyons is a perfect template for the many compatriots who have meanwhile flourished in the Bluegrass: an innate flair for trading, a fierce work ethic, and the willingness to take a gamble. He wasn't particularly raised to the horse game--his father...

His contentious prohibition from Churchill penalizes many others besides Bob Baffert and his loyal patrons. A shot at the GI Kentucky Derby, once-in-a-lifetime for most, is also being denied to everyone else with a stake in his horses' development, from those on duty at the foaling shed to the pre-trainer to the feed company. And, of course, there's nothing like a Derby winner to market a stallion. As things have turned out, a setback means that Nyquist would have lost the services of Nysos even had he moved to another...

Now we're really entering nosebleed altitudes for most breeders, between $30,000 and $50,000: a zone where you should feel that you're improving the odds of coming up with an elite horse. It tells you a lot about our business that the majority of the two dozen stallions operating at this level can only do so because they have yet to send a single runner into the starting gate. A quarter of these we immediately set to one side, as absolute beginners, because those received separate consideration in the opening instalment...

Today we'll consider some of the sires standing between $10,001 and $19,999. For a long time, I called this the Lookin At Lucky zone. But don't worry, we won't be deploring his neglect yet again: he's staying in Chile, where they evidently appreciate him rather more. Plenty of horses in this bracket have recently relinquished their brief window of commercial opportunity, and are now hanging around to discover whether they might join the very small group whose first runners generate a fresh vogue. Even with the newcomers out of the...

Somehow this is a real sweet spot in the market. For a stallion farm, the $10,000 cover is a particular pitch: you're a cent away from offering a horse at four figures, but you feel that dropping him into a low-rent neighborhood might be beneath his dignity. You're offering a very accessible fee, but you're not going to let him look cheap. That makes this a surprisingly congested zone, ample for separate assessment. And since clinging to a five-figure fee somewhat represents a show of faith, some of these sires...

And so another cycle opens, bringing all the usual dilemmas. To assist their resolution--albeit the exercise seldom fails to entail a degree of provocation, sometimes even offense--today we commence our annual quest for value among Kentucky stallions. This time round, value feels likely to prove quite elusive. With the middle market increasingly porous, stud fees overall are at a challenging level. If they were driven up by a long bull run in international bloodstock, that appears to be tapering away and there's evidently going to be quite a lag before...

After hearing from Chris McGrath in his 2024 Value Sires Part I, we thought we'd ask several breeders who they thought offered particularly good value this year. Here's what they said: Jody Huckabay The horses I have chosen are expensive, but I think they are good value. GOLD: Elite Power (Curlin--Broadway's Alibi, by Vindication), Juddmonte Farms, $50,000. The first horse I like for his body of work, race record, and pedigree is Elite Power. To me, he's on top of the list, with everything being considered. I look at it...

His father had long since ceased training, but they still always stood at the same point by the Santa Anita paddock. "There was a spot there, where the horses come out from the saddling enclosure and make a right," Evan Ferraro recalls. "From there you could look at them straight on, so you could see their conformation, their joints, and my dad would point stuff out to me." And there was one filly by In Excess (Ire) that just blew the veteran horseman away: a Harris Farms homebred, saddled by...

So we're hearing it at last: the dreaded "C" word. Correction. After a bull run as long as the one we've seen in international bloodstock, we're now hearing this and other words chosen to discourage undue alarm. Last week, on the conclusion of their November Sale, Keeneland officials resorted to adjectives as queasy as "pragmatic" and "solid" to describe trade. "Correction" has a bolder implication: that if the market's down, then so it jolly well should be; values had reached an unsustainable high, and have merely been rocked back onto...

If a tree falls in the forest and there's nobody there to hear it, does it still make a sound? We'll leave their old teaser to the philosophers, to debate whether noise still qualifies as "sound" if it doesn't reach anyone's ear. But for a long time now our own industry has been puzzling over a still more perplexing version: if a tree falls in the forest, or indeed if a war breaks out in Europe, or a pandemic sweeps the planet, or central banks have to douse the fires...