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On a recent Postcast I shared what I regard to be the best bit of handicapping advice I have ever received: you should rate races as low as you can.

It came from an old colleague, who by way of demonstration had rated Voy Por Ustedes just 155 for winning the 2007 Queen Mother Champion Chase. Eyebrows were raised, but when the same horse was beaten 19 lengths by Master Minded the following year everyone else felt compelled to reach for once-in-a-generation ratings (Master Minded was rated higher than any horse since Desert Orchid by the BHA), which the fullness of time has shown to be a bit flattering.

Master Minded's stunning Champion Chase win painted handicappers into a cornerCredit: Edward Whitaker

The issue of handicapping has risen again in recent weeks, with Marracudja's third place in the Clarence House Chase leading to an 11lb increase on BHA ratings to 154. Racing Post Ratings went even higher, to 155, although that was just 5lb more than his previous wide-margin win at Wetherby. A comment piece appeared in the Racing Post, talking of a broken handicapping system and stating the assessor "clearly had to" give that sort of rating.