Here at Exhale Enterprises...

...we strive to ensure that out clients receive the very best in advice, support, analysis and industry expertise.

Here are some of our owner and client benefits:

  • International Expertise

    In-depth international experience on the racetrack and at the sales, offering unparalleled industry expertise

  • Excellence, Value and Adaptability

    A name built on a reputation for excellence and value, with an awareness for adaptability in an ever changing business climate

  • Proven History of Success

    Proven history of industry expertise with above average statistics of success

  • Financial Opportunity

    Exclusively designed financial tools for new avenues of opportunity

People come to bloodstock advisors like me for direction and an objective outside opinion. Luckily, my favorite part of what I do is helping to manage and fine tune a breeders or racehorse owner’s program. Firstly, a full evaluation of your stock is needed. Then, using emerging trends (like watching stallion results meticulously, and their successful crosses especially), I can anticipate something that we can take financial advantage of later on – the rose in bud today that will be the beautiful bloom next year!
By studying market trends, I can raise your breeding program to another level. To do that, we must set a standard and cull continuously below that standard. This keeps your program watertight and helps mitigate the enormous costs of carrying horses that are non-payers. Breeding and raising your horse the right way is one part of the equation. But you must then place them to be successful. This enhances your mares produce record, all the while potentially fattening your pockets at the sales.
From my in-depth racetrack experience, I can assess your yearling or two-year-old from a racing standpoint. And utilizing my worldwide experience at the sales, both buying and selling, I’m always looking to maximize your sale results. Racehorse management is another particular strength of mine, and I can help guide you through locating a top class horse all the way through to the planning of a global campaign.

Two-Year-Old Sales


What is the secret to success at the two-year-old sales?


Marette Farrell says: 'there is no secret to success at the two year old sales - it is hard work and hard work and hard work! I aim to watch them train, breeze, gallop out, see them at the barn, observe their mental state etc. But that is just the day job! At night, I watch the videos for hours and try to assess the pedigree relative to their performance.'

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I love the two-year-old sales. You get so much more information. You can watch them train. You can see how they handle it mentally and physically. You can see them breeze. You can hear their breathing. You can see them gallop out. You can see how they deal with the elevated pressures of a two year old regime which is a microcosm of the racetrack. My instincts are borne out statistically. In general, my percentages of stakes winners from the two year old sales are much stronger than the yearlings. The average in the select sales varies from 10% to 12% of horses sold. What is more, there is much value to be had.
“I methodically inspect hundreds of horses at the two year old sales to buy just a handful. These select few demonstrate they can fulfill the high level of performance I look for, and at realistic prices.”Marette Farrell
A fine example can be found in 2010, when I paid $35,000 for Rigoletta, who gave Dan Hendrix and her owners Pavla and Eric Nygaard an unforgettable Grade I victory. I methodically inspect hundreds of horses at the two-year-old sales to buy just a handful. These select few demonstrate they can fulfill the high level of performance I look for, and at realistic prices. It is a high risk, high reward business, but by working diligently, upturning every stone, I have demonstrated a strong record of success. The secret is not only watching the horses train in the mornings prior to the breezes, but, like any successful business, knowing your product intimately.


“Every mare, whether she is a stake winner or not must show me athleticism. I also look for balance and quality. Finally, I love deep bodied mares with bone. That is what can make you a racehorse.”Marette Farrell

If you look back over the years, many top mares like the mother of Barbaro (who I was lucky enough to spend time around at Mill Ridge Farm) can be nondescript – definitely not the Marilyn Monroe types! These mares are what I call incubators, great additions when you concentrate only on racing. But when you’re driven by the commercial market, you should be more aware of looks and correctness, too. About these factors, I consider myself very lucky to advise top breeders like Austin Paul, David Anderson of Anderson Farms and Greg Goodman of Mt. Brilliant Farm. These top breeders have had families for generations and each year try to supplement their programs with new blood. indeed, I assisted Greg with the matings of Derby runner-up Nehro, and Monmouth Oaks winner Cassatt.

The mare is the factory and the quarterback and the foundation of any farm. She is pivotal to your success if are a top breeder and commercial seller. There is little wiggle room for mistakes. That’s why I specifically look for broodmares from Taproot families because genetics is a major source of talent. This combined with good physicals are the key. I also try to insist on a recognized broodmare sire or sire line. How close you can get to the “root” depends on your financial capacities. When analyzing families, you want to feed into upwardly evolving families rather than ones who may be diluting themselves.

My advice has stood Boris Schwartzman of Haras Barlovento in great stead. Boris is the leading breeder in Peru. He has accumulated a top class broodmare band from a small allocated budget, by tracing to great female families.

New avenue of making money?

Just remember: public auctions dictate the market...

…a case in point

On the advice of both myself and John Adger, Speedway Stables brought Hard Not to Like with the intention of improving her race record before re-selling her at a profit. Since her purchase at last year's Keeneland’s November Breeding Stock Sale, Hard Not to Like has won two Grade I races!

Read more here...

When at Nicoma Bloodstock, I was lucky enough to sit alongside side Headley Bell, working on all the matings. Rainbow View, champion two year old filly in England in 2008, as well as group winners Lucarno, Street Sense and Monba were the result. Through observing Headley, and absorbing everything he taught me, I have come to appreciate pedigree patterns and the blending of various elements within a pedigree. Talk about a good teacher – Raymi Coya, the first foal I ever bred, became a Group 3 winner for my partner Bob Anderson and I.


“I really try to get into a relaxed state when looking at yearlings and try to let them tell me who they are – or for that matter, who they are not!”Marette Farrell
G1 winner Palace Episode is very special to me. I had spotted him on the farm prior to the sale, hoping he might be overlooked. He was small with a neat action and had a certain something about him that drew my attention. I spoke with Con Marnane, an old family friend, who bought him for $100k US. He went on to win the G1 Racing Post Trophy and Nicoma Bloodstock, who I worked for at the time, was vastly rewarded for their investment.

Another purchase I’m especially proud of is Zultanite. I was initially given 40k to 50k, but had to stretch to 57k in the end – she was a filly that covered the ground effortlessly and I had to have her. In 2012, Zultanite was multiple graded stakes placed for her owner Bill Punk. In the end, she pocketed over $150,000 in total earnings. Then there’s Dr. Zic, who cost $40k and ended up winning the Grade I Vinery Stakes! So much of what we do is based on intuition, combined with pedigree, produce record and broodmare sire research. But I firmly believe that a good solid back “family” somewhere down the generations is an absolute must.


I usually formulate partnerships between friends, or bring together like-minded people that I think will enjoy each other’s company. Mainly, it’s an informal arrangement, and I will draw up a partnership agreement so that people know the terms and get out clauses and what not. Some of my partnerships are directed through a trainer. For example, I bought Dr. Zic for a partnership under trainer Joan Scott’s banner. Similarly, Willcox Inn and Ground Transport were bought for a partnership of clients and friends of Mike Stidham. Another partnership example is one organized by a good friend of mine, Ali Fyfe. Ali is a life-long racing fan who can be seen every year at Saratoga with his pals at the same table wearing a cross between Braveheart and The Great Gatsby! Fun, fun, fun!

If you have specific queries, please don’t hesitate to call me or my associates. It is a great business to be in, with opportunities to hit the long ball if you get the foundation firmly in place so you can take advantage of the opportunities when they arise.

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