EASMAY: Leaving no stone unturned

Anyone who follows this blog is aware by now that significant attention has been paid the past couple of months to publicizing my selections from several juvenile sales this spring, and following the exploits of those horses as I try to prove that maybe I have a clue about what makes a good, young racehorse.

The longer I've followed my sales selections -- 187 horses from the February and April Ocala sales, Keeneland April, the Adena Springs sale at Ocala, and Fasig-Tipton's Midlantic sale in Timonium, Md. -- the more my brain endeavors to leave no stone unturned in examining whether my selections are a collective statistical success, failure, or merely average for the breed, the latter of which could have been accomplished by having a monkey point at pages in the catalog.

In light of, well, shedding light on the subject, I decided it was worthwhile to add an extensive slate of horses to the group I'm routinely following.

That is, every horse among the 405 originally catalogued for the Fasig-Tipton Midlantic Sale of 2-year-olds in Training, otherwise known as EASMAY (Eastern May 2-year-olds).

It is fair, I believe, to compare the performance of my 187 selections from all sales against the breed averages for percentages of starters, winners stakes winners and so forth.

But EASMAY was the first sale at which I was actually employed as a bloodstock advisor, specifically, in search of the most promising runners available among the sale's least expensive horses. And the more starts my selections from EASMAY have made, the more wins and paychecks they have collected, the more I wondered whether what seemed to be a successful beginning really was any better (or even worse) than the catalogued horses as a whole.

It turns out that, so far, so pretty good.

My new research project began Monday night by downloading the complete sales results spreadsheet from Fasig-Tipton's Web site, in Excel format. I deleted fields of information I didn't really need -- like broodmare sires -- and added others, for starts, wins, places, shows, earnings and a text rundown of stakes performances. The spreadsheet does much of the math for me, so long as I input the data correctly, and the results at this point are encouraging.

Of the 405 horses in the catalog, Fasig-Tipton reported that 273 were sold for $13,099,500 -- an average of $47,984. The median price according to Fasig-Tipton was $27,000. Those prices should include a handful of private sales, after the auction process failed to yield a sufficient bid. Another 39 went through the ring, but their reserve price was not attained, and they went home with their consignors.

Those figures suggest that 93 horses were "outs" at the sale; withdrawn for whatever reason. Two of those horses ended up being on the list of 48 potential bargains I prepared for my client, but they went through the breeze show, I saw them on the hoof at the barns, and they were only withdrawn day-of-sale -- one due to a sudden health problem and the other for reasons I don't happen to know. Many others on the "out" list never showed up and breezed at all. But a number of them are running, perhaps sold through the Barrett's ring out west, also in May, or having stayed with their owners or changed hands privately.

Finally, by way of full disclosure, the one horse with which I played role in the purchase, a filly now named Quiet Lorraine, was not on the original list of 48 horses compiled for my client. I am tracking her separately on the blog, and the statistics presented here detail the original 48 horses (which are numbered among the aforementioned 187).

Now that the background has been detailed, let's get down to brass tacks. How are my selections from EASMAY performing?

Better than average, say the early returns. In some cases considerably. And throughout these statistics that follow, recall that I was tasked to find the horses that would be worth owning among the very least expensive on the grounds; not to identify the most likely stars from all 312 animals that eventually passed through the auction ring.

As of statistics available via Brisnet on Monday night (and the Korean Stud Book, as several horses were purchased to race overseas) these are the early findings. Statistics compiled by my selections are included in the group, which actually, you might note, serve to elevate the group's performance in virtually every category.

Statistic	Catalog	Selected
Horses	405	48 (11.9% of catalogued)
Runners	108 (26.7%)	17 (35.4%)
Winners	22 (5.4%)	6 (12.5%)
Starts	212	42
Wins	24	7
Win Pct.	11.3%	16.7%
In the Money	36%	38%
Earnings	$932,480	$180,735
Earnings/Start	$4,398.49	$4,303.21
Stakes Horses(Wnrs)	4(1)	1(0)

From these statistics -- admittedly quite early in their careers -- the horses I selected at EASMAY have sent a larger percentage of their number to the starting gate, are breaking maiden at a rate more than double the catalog as a whole (12.5 percent vs. 5.4 percent), are winning their starts at a rate nearly 50 percent higher than their peers, and despite being the cheaper horses at the sale, aren't running in cheaper company. At least, not if average earnings per start are an indicator, as those dollars are virtually equal.

I was a bit alarmed when I realized there were four stakes horses already out of this sale and only one of them (G3-placed Rough Sailing) appeared in my numbers. That was before I realized that every other stakes horse to emerge thus far from the EASMAY catalog, didn't actually go through the sale. Saratoga G3 turf winner SOLDAT, catalogued as Hip 218 at EASMAY, G3-placed dual winner Jordy Y (Hip 93) and Woodbine G3-placed More Than Real (Hip 240) all blew off the breeze show and sale. They simply weren't there for me to identify; though had they been, they still might not have ended up on my bargain-hunter list.

Edit (Wednesday, 9/22): In breaking down these statistics further, a struck upon perhaps an even better way to measure the performance of my selections vs. the horses in this sale: That is, to only compare horses that were in the sale.

This time I deleted from the Excel spreadsheet all horses that did not even make the breeze show; in other words, those that neither I nor anyone was able to review and consider for purchase. Then, I deleted my selections, leaving me a remainder that are all the horses I saw on the grounds -- at least in the under-tack show, if not in person (well more than a hundred of them) at their consignors' barns -- but declined. The following table shows the performance thus far of horses in the sale (including late "outs") that I selected for my bargain-conscious buyer, vs. all the horses I tabbed as ones we weren't after; passed-up either because I believed they weren't worth his money, or were horses too expensive for his budget. (And, trust me, some were both).

Viewed through this lens, the performance advantage thus far for my bargain-babies is even more stark.

Statistic	Passed	Selected
Horses	277	48
Runners	78 (28.2%)	17 (35.4%)
Winners	12 (4.3%)	6 (12.5%)
Starts	145	42
Wins	12	7
Win Pct.	8.3%	16.7%
In the Money	33.1%	38%
Earnings	$484,149	$180,735
Earnings/Start	$3,338.96	$4,303.21
Stakes Horses(Wnrs)	0(0)	1(0)
Avg. Buy/RNA $	$49,992	$24,196

Potentially, the horses in the column on the left might go on over the next three or four years to produce average statistics that equal or even exceed the horses I selected, whose early performance is measured on the right. But scanning down the columns suggests that right now, the horses I selected for my client are doing a bit more and -- bottom-line, in the last row of the chart -- were bought or RNA'd for less than half as much as the others.

Certainly there will be observers who believe that, over time, the expensive horses will prove their worth versus my more affordable selections. At least, I'm sure their buyers are hoping so.

In other curious statistics, of the four wins logged by EASMAY graduates who sold for $10,000 or less, two were posted by my selections (Grand Giana and Jitalian). Of the three victories posted by EASMAY grads who sold for between $10,001 and $20,000, two are by one horse -- my sales-pick Spring Jump, who is 2-for-3 and has earned $39,660 off a $19,000 purchase.

I realize touting these statistics now is sort of like knocking in a run with a double in the top of the second inning and pointing at the scoreboard. But the record-keeping needs to begin somewhere, and should be documented throughout, to keep myself (if no one else) abreast of the line score.

Two more in the win column: Nos. 22 and 23

A debuting colt and a filly who finally broke through became maiden winners Nos. 22 and 23 for my sales tip Class of 2010.

Jitalian and Grand Giana, both purchased at May's Fasig-Tipton Midlantic Sale of 2-year-olds in Training, cleared their maiden hurdles in Friday action. The former stalked the pace and closed to score by three parts of a length in a maiden special weight at Finger Lakes. The latter, who ran both in maiden special weights and for a tag in three prior starts without hitting the board, wired the field by six lengths for a $10,000 claiming price at Charles Town.

Ridden by Omar Camejo, Jitalian (Defrere-Sandy Lass, by Line in the Sand) was trained for his maiden win by Karl Grusmark. The horse was bred in New York by Aaron Schroeder, and is owned by David Cramer. Jitalian, who earned $10,560 in his first start, was purchased for just $7,000 as Hip 314 at EASMAY.

Jitalian covered five and a half furlongs in 1:07.58.

My assessment of the horse tabbed him as a "Priority 1" in a list of 48 horses for a buyer seeking a bargain runner among the horses catalogued at EASMAY. He only worked 11.1, "but was by far one of the taller horses on the grounds, with a lot of filling out to do." Jitalian has a winning full sibling who earned more than $80,000, but two other full siblings include a 10-race maiden and one that broke down in its fourth start.

As I'm traveling (will be at Saratoga for the Travers in a few hours) I don't have the catalog page in front of me to give details of why I liked this one enough to label him a top priority, considering the "mixed" nature of his sibling quality and the relatively slow breeze. But, it could be suggested that he justified his Priority 1 status by winning first-out.

Grand Giana (Grand Reward-Giana, by Exclusive Era) earned $9,000 for her win, and has now banked $11,000 after being a $10,000 purchase at EASMAY, where I also labeled her a Priority 1 horse. She was bought at the sale by John E. Salzman Sr., and is trained by Tim Salzman. J.D. Acosta was her rider Friday, and she covered five furlongs in 54.16.

I valued Hip 157 highly not just because her sophomore sire already had 34 winners and her stakes-placed dam had produced seven winners from 10 to race. Nor because she has a pair of stakes-placed siblings, including a Group 3 horse on turf in the U.K. Rather I think she has a lot of up-side.

"She wasn't a tall girl," I wrote in detailing how I reached my selections for the buyer, "but she was only a week past her actual second birthday, and despite only 60 days in training managed a 10.4 breeze. I think John Salzman made out like a bandit ..."

Hard to justify the "bandit" comment just now, with Grand Giana winning for $10K, the price at which she was purchased. But I think she's potentially a better horse than that. With a sire who ran successfully on grass and some turf performance on the dam's side, I think this filly should get at least a couple of shots on the lawn somewhere, and perhaps on a synthetic track.

Meanwhile, you can follow along with the successes of my 187 sales picks at the end of this prior post.

Bout of near-misses ends with a winner: Blue 'em Away becomes 14th sales tip to break maiden

Headed into the weekend, more than a dozen horses from my 2010 juvenile sales tips had chances to reach the winner's circle at tracks across North America, and even (on Sunday) in Korea.

It was a disappointing string of days and races until Saturday night, when a horse broke through that, to me, seemed one of the least likely going into the weekend.

Blue 'em Away, a colt by Bluegrass Cat-Alcina, by Kingmambo, managed to win in his fourth start, and his second since being banished to Assiniboia Downs in Winnipeg after starting out his career in Kentucky. Jockey Vicky Baze "forced the pace" from the outside, according to the Equibase chart, and defeated short-price favorite Three Mile Tough by two on the wire.

The colt, bred in Ireland by Runnymede Farm, earned $6,913 for the victory, bringing his lifetime earnings to $8,702. He is now trained by Chad Torevell.

Despite his win on dirt, covering four and a half furlongs in a fairly pedestrian 54.80, I still think his connections, Arnason Farms, are missing the boat with this horse. He breezed a credible 10.2 over the Polytrack at Keeneland before selling for $20,000 at the April sale, prompting me to label him among the "steals" of the auction. (I also named a list of "potential second-chance deals" from the sale, that is, RNAs one might be able to buy privately later, and "surreal" prices, figures that I deemed too much to pay for a given horse.)

I noted that I might rather have seen a turf-raced sire bred to the Kingmambo mare, but there is dirt performance in the family. Alcina is a half-sister to four-time stakes winner CAMELLA (Housebuster) and 11-race stakes winner STONE CANYON (Mt. Livermore) -- both of whom were G3-placed -- and of Mamalik (Diesis), who was G1-placed on grass in France. But the second dam was a stakes-placer by noted turf sire Roberto.

The colt breezed a credible 10.2 over the Polytrack at Keeneland before the sale. I was further encouraged when the colt rocketed to 48.80 and 47.80 works from the gate at Keeneland. Later works of 49.40 and 1:03 flat were acceptable, albeit not outright fast.

The connections shipped the horse to a pair of races at Churchill, where he twice disappointed on dirt. Then, off he went to Winnipeg, where he posted his slowest-ever breeze (51.60) before failing as the favorite in another dirt race -- dirt being the only surface at ASD. (He's breezed more briskly once since, 37.60.)

So, honestly, I had low hopes for Blue 'em Away going into Saturday's card. Frankly, I don't think he's a dirt horse. He's breezed anywhere from "all right" to extremely well over Polytrack at Keeneland. After running dull on dirt at Churchill, I can't fathom why he got punted all the way to Manitoba rather than just up the road to Arlington Park in Chicago, where he could try a synthetic track (or shelved until the Keeneland and Turfway meets).

With as much grass as there is in the female family, and a Storm Cat-line stallion on top (certainly a sireline capable of getting a turf runner), the colt also merited at least one chance on the lawn, perhaps at Ellis Park, before being banished to confines where the only grass around is for eating.

The connections' apparent early dismissal of the colt as a Kentucky-class racehorse aside, he's now a winner, regardless what I think, and the 14th of my sales-tip class of 2010. ... But please, bring him back in the winter and let him run on Polytrack at Turfway. I really think he'll improve on something other than traditional dirt.

Our winner now duly credited, the near-misses began with a third place finish on Thursday by Admitit, a bargain-priced filly ($20,000 at OBSAPR) who finished third, again, at Woodbine, this time on the grass. She's raced three times, has a third and another second on her record (both over the all-weather track) and has earned $18,760 toward repaying her purchase price, all without winning. And Woodbine, with its lofty purse structure, has become one of the more competitive tracks in North America.

On Friday night, two selections from Fasig-Tipton's Midlantic sale in May appeared in the same maiden special weight race at Charles Town. A $10,000 EASMAY purchase, Grand Giana, showed speed, but faded to fifth, while sales-mate Sultry Gibson led until the last instant, losing by a neck to Cuttin Edge Kitten. It was the second time Sultry Gibson had placed from four starts, her first three races being at Calder in Florida. She's earned $7,590. Grand Giana has earned $2,100 from three unplaced starts.

On Saturday, the missing got even nearer in one race, as first-timer Dangerous Ghost closed fast at the end but failed to get up in time and lost by a nose to 3/2 favorite Class E Holiday in a maiden special weight at Canterbury Park. I tipped the Ghostzapper filly from OBSAPR.

Two other maiden starters this weekend ran further in arrears in races on Saturday at Presque Isle Downs; Tale of the Tiger in her second start (an MSW) and R Canadian Academy (maiden-claimer) in her debut. Another scheduled starter, Soldier's Tune, was a trainer scratch at Calder from a $32,000 maiden-claimer in which he was the morning-line second choice at 3/1.

Through Saturday's racing, 56 of my 187 sales tips have gone to post at least once (30 percent), and the class has crested the century mark in combined starts. The class has won 15 of 102 starts (14.7 percent), placing or showing another 26 times (40.2 percent in the money). GOURMET DINNER ($75,390) is the only two-time winner, and is also the group's first stakes winner. Stopspendingmaria ($57,500) is Grade 3-placed at Saratoga. Combined earnings are now $487,644, or $4,781 per start.

You can track the performance of all 187 of my 2010 sales tips here.