What do retired fund industry entreprenuers do when they are sent to pasture? Well, if you are Janus founder Tom Bailey, you start training horses. The Janus founder, who did not sit in a saddle until he was sixty, is training cutting horses and even placed ninth in a recent horse handling event.

Bailey, who has retired to his Iron Rose Ranch located in the Rocky Mountains near Aspen, told his story in a profile in his local paper, the Rocky Mountain News. Bailey founded Janus in 1969, sold much of the firm to Kansas City Southern in 1984 and cut loose the last of his stake in 2001 for a reported $600 million.

Over that time Janus blossomed from a startup with a few hundred thousand dollars to an industry behemoth watching over more than $330 billion.

After he resigned from Janus in 2002 he spent some time bicycling in Spain and then returned to Colorado to pursue what he calls the third stage of his career.

Bailey was less forthcoming about recent events at Janus. He declined to comment on how current CEO Gary Black is doing at his job (probably a wise move since Bailey still holds a board seat at the firm). He did provide kind words about his successor, Mark Whiston, who was forced out of the CEO suite by Janus' ties to fund market timer Edward Stern. Bailey called Whiston "the finest marketing executive I've ever had the privilege to work with."  

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