Perisher

The recent form reads 2nd, 5th, 3rd, 3rd going back through its last four races, and that fifth-place finish looks like the exception rather than the rule. A horse that keeps finding the podium without winning is either very consistent or very nearly there — and at this early stage of a career, those near-misses are more encouraging than they might look on paper.

Being trained by Joseph Patrick O'Brien at Owning Hill in County Kilkenny is no small thing. O'Brien's yard has sent out 153 winners already this season, which puts it firmly among the most productive operations in Irish racing right now. When a trainer is winning that often and that consistently, you can be fairly sure that a horse still finding its feet is being given time and patience rather than being thrown into races it cannot handle. The fact that Perisher raced just yesterday and is clearly being kept busy suggests the team sees something worth pursuing.

Zero wins from four races sounds bleak, but context matters. This is a young horse, trained by one of the sharpest yards in Ireland, finishing placed more often than not. The win will come — the question is just when.