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Sol Kumin goes from horse racing unknown to Kentucky Derby fixture

Paul Morigi / Getty Images Entertainment / Getty

Five years ago, the name Sol Kumin would not register with anyone in horse racing. But how times have changed. Today, Kumin is one of the most widely-talked about investors in the game, staking his claim by buying shares in dozens of racehorses all across North America.

On Saturday, Kumin will be part of three Kentucky Derby contenders: favorite Justify, Audible, and longshot My Boy Jack. It's quite the accomplishment for a man who bought into his first horse just four years ago.

Kumin, a Massachusetts-based investment banker, is employing the same strategies he does with his clients' hedge funds as he does with the racehorses.

"We're trying to do smart things and take care of our money, which we've worked so hard to make," Kumin told Thoroughbred Daily News. "But we are also doing this for fun."

Part of Kumin's strategy is to buy horses that have already proven they can win. It's different from most investors who prefer to buy a horse before they have raced because they are hoping to get the best value. Once a horse has raced and shows talent, they are no longer an unknown commodity.

"My view is, instead of buying a bunch of yearlings and 2-year-olds and hoping you wind up with the one that turns out to be really good, why not wait until a little bit later when you have more data and more information and take a shot," said Kumin.

Kumin first got involved in racing partnerships with a filly named Lady Eli, who went on to be a Breeders' Cup winner and champion. He has owned pieces of Derby contenders before, namely Exaggerator, who finished second in 2016 and My Man Sam, but this year - with the likes of Justify and Audible in his stable - is arguably Kumin's best chance to win.

According to the Blood-Horse, Kumin owns 15 percent of Justify and Audible and 37.5 percent of My Boy Jack. He's not the only owner with more than one horse in the race. China Horse Club, WinStar Farm and Repole Stable and Ireland's Coolmore also have multiple horses in the race.

(Photo courtesy: Getty Images)

Horse racing is hungry for new participants like Kumin, but the tactics he, China Horse Club, and WinStar are employing to win the Derby - the most storied and sacred race in the world - have disillusioned some.

Ray Paulick, a longtime horse racing editor and scribe, lamented recently in a column on his site "The Paulick Report" that the sport has reached the era where "maybe you can buy the Derby."

"I've always thought the Kentucky Derby was a prize you couldn't buy, that there was something mystical and magical about this most unique of all American horse races, one that put the Everyman owner on equal footing with the most powerful stables in the world," wrote Paulick.

As the number of thoroughbred race horses born each year shrinks, it means there is greater competition for those equine individuals who are bred and show the physical attributes of being Derby horses. This allows big operations and deep-pocketed investors to dominate the market more than ever.

Twitter user Mark who goes by the handle @ShamIamNot has a more humorous take on Kumin's strategies, however, tweeting on March 28: "If Sol Kumin wants to guarantee a spot in the Kentucky Derby winner's circle this badly he should just buy a minority share of Bob Costas."

Whether Kumin actually ends up in the winner's circle on the first Saturday in May is yet to be decided. After all, there are 17 horses he doesn't own in the race. They don't call it "the most exciting two minutes in sports" for nothing.

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