[3] Early in 1978, The Washington Post declared Believe It to be one of the best three-year-olds in 1978, and his trainer, Woody Stephens said the colt was one of the best he had ever trained.
[6] He bounced back in the Wood Memorial April 22, defeating Darby Creek Road by 3 1/2 lengths and completing the 1 1/8 mile race in 1:49 4/5.
[7] Following his victory in the Wood Memorial, he entered the 1978 Kentucky Derby as the fourth choice at 7–1, behind Alydar, Affirmed and Sensitive Prince.
[3] Two weeks later at 6-1 odds, he again finished third behind Affirmed and Alydar in the 1978 Preakness Stakes, although much farther back at 7 1/2 lengths.
"[8] Stephens chose teen phenom jockey Steve Cauthen to ride Believe It in the June 18 Ohio Derby.