Tangaloa is revered for his feat of winning the 1978 Melbourne Cup, before finishing 2nd in the 1979 Australian Cup, and then going on to win the 1980 Australian Cup at the unthinkable odds of 33/1. His career wound up on 57 starts for 19 wins and 28 placings, and he earned $93,000 in prize money. However Tangaloa, who was trained by Joe Hili, was also able to reach greatness in the stud arena, with some of his best progeny including Eaglehawk Star, Rustic Venture, Tangairn, Pretty Short and Kid Campbell, who were all outstanding racetrack performers in their own right.

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