What a great read!

The notion of outperforming the market is an interesting concept.

If the market is more right than any single punter can establish, then can it be used as a tool to find value?

eg When the market selects two at $4 but they are priced on the tote just before the race at $7, what is happening there?

Otherwise by what you mean by outperforming the market, are you looking for gaps where it's not telling an accurate price and punters are willing to back it at the erroneous price?

There two ways to find the edge here.