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Looking at a small number of races and believing that those races can be used to predict what will happen in a larger number of races.
Selectively isolating a small number of races with one or two unusually high mutuels and believing that those aberrant mutuel payoffs will be evenly distributed throughout a larger number of races.
"Accentuating the positive" in the sense of only studying races that were won and totally ignoring races that were lost.
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