The Value Perspective: The case for an 'outside view' on the Gold Cup

Among the favourites to win the 2019 Cheltenham Gold Gup, which sets off at 3.30pm today, is last year's winner Native River. At around 4/1 with the bookmakers, at the time of writing, the Irish-bred eight-year-old is clearly well-fancied to repeat last year's achievement and yet, in backing him, his followers are betting against history. In the almost 100 years since the race has been run over fences, only six horses have won the Gold Cup twice or more in succession - Easter Hero and L'Escargot (twice each), Arkle, Best Mate and Cottage Rake (three times each) and, well out in front ...