Cover image courtesy of The Image Is Everything
Jamie Walter revealed he was still “a little bit dusty” on Monday morning, but that’s understandable, given less than 48 hours earlier he experienced his greatest day on a racetrack.
Walter, the proprietor and managing director of Proven Thoroughbreds had two runners in the world’s richest turf race, The Everest. Think About It (So You Think {NZ}), which cost $70,000 as a yearling, and Private Eye (Al Maher), which made just $62,500.
Think About It, winner of this year's The Everest | Image courtesy of The Image Is Everything
Bred by Lightning Thoroughbreds, Think About It was consigned by Newgate Farm at the 2020 Inglis Premier Yearling Sale (Book 1), while the Goodwood Farm-bred Private Eye was offered by Ambergate Farm at the 2019 Magic Millions Adelaide Yearling sale (Session 1).
The pair finished first and third respectively, amassing a collective $9 million in prizemoney ($7 million for first, $2 million for third).
“It has to be the best day I’ve had at the races. I really enjoyed last year’s Everest, because Private Eye running second was kind of unexpected and for a few strides it looked as though he was going to win it. And, on the same day, Stockman won his first race for quite a while in the St Leger and that set him up for a tilt at the Melbourne Cup, which had been a lifetime ambition of mine. So, last year’s Everest Day was pretty good, but this tops it, no doubt,” Walter told TTR AusNZ.
“It has to be the best day I’ve had at the races.” - Jamie Walter
Walter has a remarkable record of success with relatively cheap horses.
In addition to the two The Everest stars, Proven Thoroughbreds, in partnership with John Thompson Racing, paid NZ$175,000 for Stockman (NZ) (Tavistock {NZ}) from the Cambridge Stud draft at the 2018 New Zealand Bloodstock Karaka Yearling Sale (Book 1). He is a three-time stakes winner with a Group 3 victory and more than $1.5 million in prizemoney to his credit.
Proven Thoroughbreds and Steve O’Dea bought Scallopini (Snitzel) for $200,000 from the Yarraman Park Stud consignment at the 2016 Magic Millions Yearling Sale (Book 2). The gelding has won six stakes races, including a Group 3, for earnings north of $1.1 million.
Gallery: Some of the relatively cheap horses Proven Thoroughbreds has had success with, images courtesy of The Image Is Everything
And Better Get Set (Better Than Ready) was an $85,000 buy for Proven Thoroughbreds and O’Dea from the Lyndhurst Stud Farm draft at the 2019 Magic Millions Gold Coast March Yearling Sale. She is a six-time winner, boasts a Listed triumph, and has pocketed connections $430,000. And, with black type on her CV, she is a valuable broodmare.
Walter does not get assistance from a bloodstock agent, instead he usually works collaboratively with a trainer, whether that be Pride, O’Dea or someone else. Ahead of a sale, Walter spends plenty of time doing his homework; that’s because he must get it right more often than not in order for his business to survive.
“I trust my instincts, in tandem with the trainers. Above all, you’re primarily trying to buy value. A lot of horses we like, we just get blown away on. Figuring out what you think a horse is going to be worth and what you’re prepared to bid to is the backdrop of the syndication financial model, which is fundamentally flawed, because you’re outlaying so much money and then you’ve got to sell all of the shares, so you’re really putting your judgement on the line,” Walter commented.
“I trust my instincts, in tandem with the trainers. Above all, you’re primarily trying to buy value.” - Jamie Walter
“Whilst I’ve learnt to manage that risk, I’ve got to be mindful that it’s not just buying the horse for me, it’s buying the horse with the approval of the trainer.
“At the end of the day, whatever we buy we’ve got to sell; we’re not sitting on a bucket-load of money to spend on yearlings and I can buy what I like; there has to be some commercial appeal to the marketplace.
“I feel I’ve become better at my job. Nothing succeeds like hard work and I really think you learn from experience. If you do the hard yards, whatever it is you do, you’re going to get better at it. And one of the key components of getting better is looking failure in the eye and knowing when you’re wrong.”
“I feel I’ve become better at my job. Nothing succeeds like hard work, and I really think you learn from experience.” - Jamie Walter
Walter said he doesn’t have a favourite stallion/s, but he does like going back to the well if he enjoyed success with a particular sire.
“Like many, you gravitate to where you have had luck, in this game,” he said. “Whether that’s superstitious, or you’re just more comfortable, I don’t know.
Jamie Walter | Image courtesy of The Image Is Everything
“There might be a successful commercial stallion my trainers and I have had no joy with, so we are mindful of those horses. Conversely, we might find something by a stallion that may not be commercially as palatable, but we’ve had a bit of luck with them. We’ve had a bit of luck with Rubick, for example, so we bought some more of them this year. He was relocated to Victoria a couple of years ago.”
The thrill of syndication
Proven Thoroughbreds’ aim is to ‘ensure the ownership experience is at the very least enlightening, and at best, the ride of your life!’. Walter said the events of Saturday were unrivalled for the lion’s share of the syndicate members.
Connections of Think About It celebrate after winning The Everest | Image courtesy of The Image Is Everything
“There’s so many people involved, they’re keen and they’re active. It was very exciting,” said Walter.
“One of the great pleasures of this job is dealing with people, and when you’re with them in a euphoric situation like Saturday, it doesn’t get any better. A pleasure shared is a pleasure enhanced.”
“A pleasure shared is a pleasure enhanced.” - Jamie Walter
What’s next for Proven’s stars?
Think About It has won The Everest and two Group 1s. The gelding is only five and lightly raced, having had just the 12 starts (of which he has won 11). Walter believes he will be competitive from anything between 1200-2000 metres if he is trained accordingly.
Walter said: “I don’t know how good he can be. He’s by So You Think, his grandam is by Zabeel, and he looks like Zabeel. He was a backward type and took an eternity to mature. He’s running 1:07.64 and winning an Everest, what’s he going to be like when he gets to a mile?
“He is by far the most promising horse I have had anything to do with.”
“He (Think About It) is by far the most promising horse I have had anything to do with.” - Jamie Walter
Walter admitted the Cox Plate is one of the races he would love to win.
“Joe would love to win a Cox Plate and I love the Cox Plate because time and again, even though it’s run around a tight track, it’s a good horse’s race, not many weak horses win that race,” he remarked.
Joe Pride and Sam Clipperton | Image courtesy of The Image Is Everything
“As a traditionalist or a purist I’d love to win it, but we’ve got to make decisions that are best for the horse. We’re not going to just set the horse on a path just because it’s a particular passion of Joe’s and mine. Having a horse of this class comes with a level of responsibility.
“There is no better preserver of a horse’s career than Joe Pride, time and again his patience with horses extends their careers.”
“As a traditionalist or a purist I’d love to win it, but we’ve got to make decisions that are best for the horse (Think About It).” - Jamie Walter
Walter said both Think About It and Private Eye will contest the $3 million Giga Kick S. at Rosehill on November 4, assuming all is well.