_Born in Houston, Farish is the owner of Lane's End Farm, a major Thoroughbred breeding operation with divisions in Versailles, Kentucky and Hempstead, Texas. Standing at Lane's End Texas are the state's top three stallions of 2003 by progeny earnings - Valid Expectations, Open Forum, and Dove Hunt. Farish maintains homes in both locations.   Farish was honored with Eclipse Awards as the nation's outstanding Thoroughbred breeder in 1992 and 1999. He has bred, individually or in partnership, such horses as 1992 Horse of the Year and leading stallion A. P. Indy, 1999 Horse of the Year Charismatic, and classic winners Lemon Drop Kid and Summer Squall. Farish has also owned a number of top racehorses alone and in partnerships, including 2003 Horse of the Year Mineshaft and 1972 Preakness Stakes (Gr. I) winner Bee Bee Bee.

Farish, who recently stepped down as the U. S. ambassador to Great Britain, has been very active in support of pari-mutuel wagering in Texas.

Farish is currently the Chairman of the Board of Churchill Downs and on the boards of the American Horse Council, Breeders' Cup Ltd., Keeneland Association, and the Thoroughbred Owners and Breeders Association.