MOST experts and professional pundits made the point beforehand that, while Tiger Roll had carried all before him of late, he could not possibly be value at 4/1 and a short price like that must highlight tempting possibilities elsewhere in the market.

The first part is a matter of opinion but the second amounts to hazy idealism. Just because one horse is clearly the likeliest winner and priced up accordingly, it doesn’t follow that there are bound to be attractive alternatives.