I am kind of with Badlands on this. "IF money is NO OBJECT", that means I am retiring into the life of the "landed gentry" (rather than us regular working stiffs) and Juan and Pedro are actually going to do all the work for me while I ride around on a golf cart giving orders (I would probably weigh 540 lbs after two years of that). Since I am loaded I don't need to succeed in the cow biz, my goal is really just to entertain myself.....then why would I even CARE what bloodlines I am buying??? In that EXTREME scenario all I would be buying would be about 200 registered heifers that I like off somebodys with a solid grass program and I would take my time about it, AI them to mostly Feltons bred bulls and then after that initial start I would breed towards "ideal" (as defined by me, with input from the cattlemen I respect, the customers I collect over the years, the feedlots, and the packers). I am not really motivated to win ribbons in Denver, (if I am already rich) selling $100,000 donors MIGHT not be such a thrill. Pleasing myself and MAYBE trying to develop a real lasting reputation as a breeder(not just another rich guy who buys and sells expensive cows) would be the only goals longterm.
I'm not filthy rich, but I have 1000+ Virginia acres and I am not constrained by near term profits or capital to purchase seed stock. If I could think of a good reason to spend $100k+ on an animal, I would. I have spent more than $200k in aggregate on registered cattle purchases in the last five years.
That said, I've been breeding Herefords for 7 years, and I still have no hired hands, pull the calves, collect the data, make the hay, put out the hay, and I'm in better shape now than I was when I began other than some of the nagging injuries I've received along the way.
It's took me 6+ years to get a plan, and the plan doesn't involve showing in Denver, chasing performance, or continuing a line (although I may incidentally continue some lines). There will be financial pain since I am now evolving from high EPD cattle to cattle with scattered EPD's.
I breed based solely upon beef quality, hardiness (including conformation) and the ability to pass on beef quality (prepotency). Without financial constraint and without peer pressure, I am able to ignore packers, feeders, and peer pressure from current breed practices if I wish to.
I am able to study the writing of the associations, the university and government scientists, the Genestar papers, Jim Lents, Kit Pharo, Hazelton, Lush and many others. Fortunately, with a few years of having done the cattle work myself and with graduate degrees from universities, I am able to comprehend some of the knowledge available to cattle breeders in books. I augment the knowledge I acquire with the experience I gain.
Without near term money being the object, I can look at the cattle. I can notice their slight faults and cull directly to the stockyard without a care. I can learn more, change a direction, and cull aggressively. I can attempt to build lines through heavy inbreeding, and I can buy others' lines that I think may help. I can question any deeply held premise in cattle breeding. I can afford to wonder about correlations and causations between beef quality, beef management, performance and efficiency and experiment with my theories. Then, I can taste my progress or lack of progress every so often and think some more. Finally, in the back of my mind, I am driven by the goal that I can probably make even more money if I find the formula for cattle that produces great tasting, consistent, healthy beef in a cost effective fashion.