The pull

A horse pulling first over is paying wind tax for as long as the move lasts. The question is never whether the move is brave; it is whether the ground gained between the pull and the three-quarters is worth the seconds it costs.

Measure the pull the same way every time: where the horse left the queue, how far it travelled uncovered, and what it had left in the last quarter. A horse that pulls at the half and still finishes within two lengths ran better than the chart says.

The corollary matters as much. A horse that never pulled and finished third has an unproven mile behind it, and the price usually does not know that.