True story of the undersized Depression-era racehorse whose victories lifted not only the spirits of the team behind it but also those of their nation.
While traveling with his father, young Alec becomes fascinated by a mysterious Arabian stallion that is brought on board and stabled in the ship he is sailing on. When it tragically sinks both he and the horse survive only to be stranded on a deserted island. He befriends it, so when finally rescued both return to his home where they soon meet Henry Dailey, a once successful trainer. Together they begin training the horse to race against the fastest ones in the world.
Mi Taylor is a young wanderer and opportunist who finds himself in the quiet English countryside home of the Brown family. The youngest daughter, Velvet, has a passion for horses and when she wins the spirited steed Pie in a town lottery, Mi is encouraged to train the horse.
Fred P. Chaney receives as inheritance after the death of his mother a speaking horse that also has good knowledge about the stock-market. With the help of this horse Fred gains a lot at the stock-market of Chicago.
Herman owes a lot of gambling debts. To pay them off, he promises the mob he'll fix a horse, so that it does not run. He intends to trick his animal-loving cousin Virgil, an apprentice veterinarian, into helping him. Of course, he doesn't tell Virgil what he is really up to. Mistaken identities are assumed, while along the way, Virgil meets a female vet and Herman falls for the owner of the horse.