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The top trainers stay on top because they don't allow their self interests interfere with doing what is best. They are competitors and want to win. When the horse needs freshening he goes to the farm. When the rigor of racing takes its toll so that the athlete is no longer capable of running as well as he once did he is dropped to a more appropriate level. These fellows are proud of their record. They realize that it helps to attract new clients and keep old ones. They don't fear claims because they know that type of horse can always be replaced. Their owners are happy. Since they are generally doing well, the owners are often willing to increase their involvement. While the mediocre trainers tend to be mired in their mediocrity, the top trainers build on their success. The names of the horses may change, but generally the same names are found at both the top and bottom of the trainers standings each year. In summary, we don't have to know why a trainer wins at the percentage that they do, but we should respect this historical percentage as it is likely to be reflected in his chances today.
We find it very difficult to back horses trained by those with poor records. That is because when we bet we are, in effect, endorsing the trainer's judgment in entering the horse in that particular race. A trainer's record is generally a pretty good reflection of the quality of that judgment he has demonstrated in the past. We have never understood how the public can from time to time bet a horse from a barn who is 1 for 45 down to a 2-1 favorite. We could stand behind him in line as he bet $1,000 on his horse, but wouldn't risk $2 of our money on him because he has not demonstrated to us that his judgment should be trusted. Even when he gets a top jockey to take his horse he should be considered suspect at short odds. The tote board, however, is the great equalizer. As longshots, these horses are playable.
In racing everyone is entitled to his or her own opinions. As fans, we form our opinion based upon a few lines in the Daily Racing Form and perhaps our memory of a race or two. The trainer's opinion is based on all that plus a lot more information not generally available to us. He knows how the horse has been training and acting lately. He also knows if anything has been done that will enhance his chances (different shoes, identified and fixed a minor injury, etc.). Perhaps the horse has been having a breathing problem that has been corrected now. So our common sense should tell us that we shouldn't second-guess trainers with good records. If they are making the type of moves that suggest they think they can win, we shouldn't rule them out simply because we think they are wrong. Somebody is mistaken, but it's probably us. Of course, they aren't always right. Nobody is, but they will be right a lot more often than we will be.