Bred in Kentucky, he is the son of the 1990 Breeders' Cup Mile winner Royal Academy and out of the Alysheba mare Wild Vintage.

He was sold by his breeders at the Tattersalls October Yearling Sale to Gordon Smyth who named him "Al Moughazel" and sent him to Newmarket for training under Pip Payne.

Sold to Wong Wing-keung of Hong Kong, his name was changed to Bullish Luck.

In 2005 Bullish Luck won the Champions Mile at Sha Tin Racecourse and in the process put an end to the seventeen-race win streak of stablemate Silent Witness.

On March 31, 2007, in the Dubai World Cup at Nad Al Sheba Racecourse, Bullish Luck raced for the first time on dirt, finishing third behind Invasor.