Investing in yearlings for resale as two-year-olds can be rewarding in a number of ways. We structure joint ventures and partnerships in which investors own a percentage of a group of horses, thereby reducing risk while increasing involvement in the most competitive two-year-old sales in the country. This is a well tested way to initiate or increase one's interest in the Thoroughbred industry, with minimal risk and a significant upside. These ventures also provide recreational value through participation in the sale process, with the excitement of watching one's horses perform on the racetrack and selling in the country's most prestigious auction rings.