Notable horses trained by Smith included Tulloch, Gunsynd, Kingston Town, Redcraze and Red Anchor.

When weight became a problem he took to hurdle racing, but a bad fall and broken hip ended his riding career.

His first success came in 1942 with Bragger a rogue horse he bought from Wagga property owner Mack Sawyer.

Smith also registered racing silks of green and blue vertical stripes, which were to become famous in later years as the colours of Tulloch Lodge horses.

[2][3] Smith's reputation as an emerging trainer was further enhanced with the success of Playboy, which he also owned, in the 1949 AJC Derby.

[4] In December 1950 Smith was disqualified from training for five years for not taking sufficient precautions to prevent one of his two-year-olds from being drugged and giving false evidence at a subsequent hearing.

In 1955, he won Australia richest race, the Melbourne Cup, with Toparoa, defeating the champion Rising Fast.

[7] According to his longtime veterinarian Percy Sykes, Smith rarely changed his training methods and kept his horses work consistent.

Bob Thomsen, who later had his own successful training career, was stable foreman at Tulloch Lodge for nine years.

Smith went on to win the Sydney Trainers Premiership for thirty-three consecutive years before coming second to Brian Mayfield-Smith in the 1985-86 racing season.

Through Smith's care and perseverance and the work of his vet, Sykes, they brought Tulloch back from near death.

In the late 1970s and early 1980s Smith trained Kingston Town to multiple stakes victories including the W. S. Cox Plate (regarded as Australia's premier Weight-For-Age race) three times in a row.

While Smith continued to train horses with reduced numbers, Waterhouse took over the running of Tulloch Lodge in 1994.