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I need some advice. I’m considering joining a racing partnership through one of two stables. There are three different partnerships that I am considering. While I don’t expect to make money at this, I don’t want to lose a bunch either, if it can be avoided. I do want to have fun. So, please look at the following possibilities and tell me what you’d do, and why. If you think none of them is a good idea, let me know. I have not committed to anything. Buy in is affordable. Maintenance fees would vary depending on where the horse is in his/her career, but could be as high as $140/month for a 10% share if there are no earnings to offset expenses.

Option one is a 2-year-old colt. His sire Eddington (Unbridled-Fashion Star, by Chief’s Crown) is a G1 winner, with two crops of racing age. His dam Latour (French Deputy) is a GII winner. The colt has a great pedigree, but he himself was purchased for a very low price compared to others with the same sire. So, I don't know if he is deficient in some way, or a big bargain. There’s a good chance he’d race in my area of the world at least part of the time, so I’d get to see him. Shares are 5% or 10%. His trainer has not been selected.

Option 2 is a 2-year-old filly with nice breeding (though not as impressive as the colt). She is said to have good conformation. ( I can't tell from her picture and don't have the knowledge to judge anyway.) She will be trained in Kentucky, so if she races I will get to see her. If she doesn't race she still has potential as a brood mare. Her prospective trainer is a Derby winner, although it's been years. Shares are 2%,and I’d get two or three, probably.

Option three is a 5% interest in a well-bred brood mare, her newborn (03/12) colt, and her future offspring. The mare is by Silver Charm out of a stakes-winning Northern Flagship mare. The sire is GI winner Tactical Cat, by Storm Cat. Her newborn (her third foal) seems to have lots of potential based on pedigree, but it's all on paper right now. He’s not even a week old, so it would be 2-1/2 years minimum before could race. The mama is scheduled to be bred to a nice, young GII-winning stallion (a son of Pulpit) this spring. That foal would belong to the partners as well. There's no stud fee due to some arrangement or other.

None of these has a big initial investment. However, all of them require sharing expenses, and all these horses have to be fed, housed, trained, shod, vetted, etc. The hope is that once the expenses get higher--when the horse is racing--that these can be offset with winnings. There's no guarantee, though.

So, what do you think? What would you do?