The Taurochs bull is associated with the legend of Richard (Bull) Smith (1613-1692) who by riding a wild Taurochs for a day was able to obtain 260 kilometers of Long Island, New York (depicted in the photograph above).
Taurochs were gigantic beasts of burden (descendants of Aurochs) that become extinct around 1700. Today, one 10 square mile (260 kilometres) of New York territory (known as Smithtown) is worth nearly two-and-half trillion US Dollars. How did Richard Smith lay claim to such immense wealth simply by dominating a Taurochs bull?
Richard (Bull) Smith, an English settler, assisted in the recovery of a Montauk Chief’s daughter, from Narragansett rivals, who had attempted to kidnap her. To reward Smith, according to the tale, the Montauk Sachem granted him all the land he could encircle in a single day, while riding atop a wild Taurochs bull. Horses had not been introduced to the area yet, and in any case were rare and expensive, so Smith was used to using his bull for tasks which would normally call for a horse.
The astute Smith waited for the longest day of the year, circa 1665, to undertake the trek. It is said that he trotted out one of the Taurochs bull’s favourite cows a few days before to trace the route so that her scent would quicken the pace. Essentially the land that he claimed is now what is known as Smithtown, Long Island, New York (an area of 10 miles²).
That is how we at Taurochs like to make our investments. Ideally, with little or no capital down, we will take a bet on a business idea with a similar risk-to-reward ratio as an out-of-the-money call option. Some will fail and cost us the price of the option (mostly in sweat equity, time and intellectual capital) and other opportunities will succeed beyond our wildest imagination.
The bull has come to be known as a symbol of power, of growth, and of rising markets. We therefore thought it fitting to name our company after the legendary beast of burden that helped put together one of the largest alternative investment deals in history that turned nothing into more than two trillion US Dollars of real assets today.