My Little PonyThe proliferation of racehorse syndicates enables anyone to own a stake in a thoroughbred for as little as a few thousand dollars, as opposed to the tens of millions that are laid down for full ownership. It's a form of incorporation that allows large, often disparate groups of people to buy small shares of ownership in a single horse and thereby lay claim to a chunk of its winnings and, ultimately, its value as a breeder or sale item. Like investors who own stock in a company and depend on its management team to make the right decisions, those who buy into a horse syndicate need not be well versed in the esoteric world of thoroughbred selection, breeding and training. The principal agents who run the syndicate will take care of the details in return for a piece of the action, allowing the owners to sit back and ride easy.
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