Dick Mandella

Building a 100-Horse Stable, One Micro-Share at a Time

Michael Behrens has very suddenly--and a bit unexpectedly, he admits--found himself in a position to be buying a significant amount of bloodstock. Behrens is the co-founder of MyRacehorse, the micro-shares syndicate that acquires partnership interests in racehorses then slices those assets into far smaller investment opportunities that generally cost below $400 per share and usually equate to one-tenth of one percent of ownership in a race-ready horse, all training costs included. The firm barely existed a year ago and only bought its first 2-year-old at auction this March. Yet Behrens...

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