He knew his passion in life would somehow involve thoroughbred horse racing. Growing up a mere hour from Lexington, Truman and his family enjoyed several outings a year at Keeneland and Churchill Downs and it was at these tracks where he caught the fever.
Truman’s toy box didn’t look like other children’s. There were a dozen goggles, autographed track programs and old parimutuel tickets covering most of the toys. As he got older, Truman started researching training tactics, ownership and the inner workings of the racing industry. He worked at Churchill Downs for four years as a data analyst and a co-worker named Kyle Kurasek was instrumental in pushing Truman to pursue his dream.
Truman did so an, ultimately, came up with a simple yet effective four-stage formula: Collect money, buy the horses, race the horses and win the money.
Moore and a few friends toyed with the idea of a partnership, with each in the group kicking in a few grand each and purchasing a sound and respectable racehorse. In 2014, Truman bought his first horse and the shareholders named him Faction Cat. It’s been all downhill for Truman Moore since and he’s only just getting started.
Racing Factions is a democratic partnership that offers horse enthusiasts part-ownership of a racehorse for as little as $500. There are 100 shares available per horse and you may lay down $500-$10,000. Partners have input on naming horses, hiring jockeys, where they will run, prospective trainers and just about any issue relating to the horse’s management.
I found this quite interesting and discovered the partners are currently voting on whether to base their operation out of Louisiana or Florida for the winter. Other decisions are larger, for instance, last year the partners were offered $100,000 for Faction Cat but they voted to keep him and continue racing the horse.
I asked Truman why it was important for people to vote on every decision.
“I thought gathering input from knowledgeable handicappers and excited racing fans would be interesting and smart,” he said. “Recruiting good ideas from different sources to tackle problems and present future plans seemed like a great idea. We all seem to do better making decisions collectively than going it alone.”
Votes don’t always go your way, of course, but you do have a chance to lobby online in a discussion forum. Truman maintains his website, as well as manages the content himself. He posts video of the race day events for the partners who can’t make it to the track. He and the partners also post workouts, news, observations and updates. Truman calls his clients, keeps them informed and gives them rides to the track on race day. Truman is intent on maintaining a family atmosphere while trying to keep everyone happy.
Truman’s logic is to buy unraced 2-year-olds and give them to trainer Jordan Blair to work his magic. He’s trained three horses for Racing Factions and done a fine job. I looked into Blair and his tactics and found he knows his onions. Like most good trainers, he doesn’t expect or want, a real lot out of a maiden voyage. He is still reserved on the second start, just wanting the horse to gain confidence and experience. Nearing the third start, Blair is ready to fire. He feels this slow introduction to racing, cuts down on injuries and the progression keeps horses calmer and happier.
Faction Cat has run 16 times and has only one win but has run second 10 times with one third-place finish. Truman estimates the partners will reap $1500-$2,000 for their $500 investment and the profits are mailed out at the end of the year.
Racing Factions’ second horse, Gray Ransom, was claimed from the partners in June. Their third horse, Holiday Storm, made his first start on Thanksgiving Day and finished a respectable fifth place out of 10 after a terrible start. Shares on both Faction Cat and Holiday Storm are sold out.
But Group 4 partnerships are still open and Truman is now shopping for a nice 2-year old to fill that spot. If you are interested in a unique and exciting Christmas present for someone special, or need more information, contact Moore at RacingFactions.com.
(And, boy, do I hope my wife is reading this.)
The beauty of this endeavor is you don’t need a Swiss bank account or a mansion to own a slice of a thoroughbred race horse. It’s safe to say that those of us who make a bet here and there could easily lose $500 a year. The sheer excitement, bragging rights and the chance to earn some money seem worthy of a $500 investment.
Truman shares my love of the game and we both want to see more people get involved in this great sport and owning a horse has never been easier. I found Truman to be a bright and sincere young man, who is very good at satisfying his clients. This kid is going places!
Want to talk horse racing? Email Pete at email@example.com.
More Eighth Pole: Donna Brothers: Lights, camera, action