Bloody Point

"To be in the horseracing business, I think you need a lot of patience," says Jon Clay. "With horses that don't sell, even horses that get injured, I've learned to be patient; learned not to get too emotional." Easier said than done, naturally. But here's a guy who absolutely gets it; who understands that the reckoning is not rendered in consistent, cogent cycles of dollars and cents, but in a longer, wider register of satisfaction. Yes, Clay is a commercial breeder and strives to make his program pay. He has...