Goodwin Procter partner Joe Savage says his handicapping has not improved since youthful days when he listened to people placing bets to win at the $50 horse window, then ran down to the $2 window to bet the same horse to show.

But Savage’s 5 percent buy into a “Derby Dreams” venture is showing some promise, now that one of the horses purchased by the group has earned a spot in the Kentucky Derby. Paddy O'Prado drew the No. 10 post; current odds make him the 11th betting choice out of 20 horses, the Des Moines Register reports. The Boston Globe calls the horse “a reasonable choice for handicappers looking for a long shot.”

Derby Dreams was formed by an Iowa lawyer, Jerry Crawford, who was put in touch with Savage through a mutual friend. Savage lives in Boston and is the only investor in the 11-member group who is not from Iowa.

Derby Dreams bought eight yearlings in a 2008 auction, the Des Moines Register reports in a separate story. The most expensive horse, Paddy O’Prado, cost $105,000.

Savage tells the Boston Globe his friends were stunned when they learned of his investment. “People were flabbergasted,’’ Savage told the newspaper. “People who knew me knew I was the worst handicapper out there.”