Niall Brennan, founder of Niall Brennan Stables, looks over

UNITED STATES - SEPTEMBER 10: Niall Brennan, founder of Niall Brennan Stables, looks over a yearling during the Keeneland September Yearling Sale in Lexington, Kentucky, on Sept. 10, 2007. Buying and flipping horses before they reach the racing circuit for two-year-olds can be lucrative, though unforeseen training costs and injuries can take a toll on even the most wily trader. The average return on a thoroughbred purchased as a one-year-old, or yearling, and sold as a two-year-old climbed to 47 percent in 2007 from 30 percent in 1999, according to TBH MarketWatch, an industry newsletter put out by the publishers of The Blood-Horse magazine, based in Lexington. (Photo by Daniel Acker/Bloomberg via Getty Images)
UNITED STATES - SEPTEMBER 10: Niall Brennan, founder of Niall Brennan Stables, looks over a yearling during the Keeneland September Yearling Sale in Lexington, Kentucky, on Sept. 10, 2007. Buying and flipping horses before they reach the racing circuit for two-year-olds can be lucrative, though unforeseen training costs and injuries can take a toll on even the most wily trader. The average return on a thoroughbred purchased as a one-year-old, or yearling, and sold as a two-year-old climbed to 47 percent in 2007 from 30 percent in 1999, according to TBH MarketWatch, an industry newsletter put out by the publishers of The Blood-Horse magazine, based in Lexington. (Photo by Daniel Acker/Bloomberg via Getty Images)
Niall Brennan, founder of Niall Brennan Stables, looks over
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September 10, 2007
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