Yeah I tend to concur with that - also in those months like Jan and Feb, in the open grades the fields are thin (have a look at some of the fields on a Wed at Sandown) and the favourites short, that makes it hard to make a buck.

Perhaps further proving that - my handicapping method has its highest strike rate of winners on top & winners in top 4 in Dec, Jan, Feb - yet the sys can't win in Jan Feb, and its derived from the handicapping method. This says to me that in those months the winners are easily sorted, and go around at their right odds.