Handicapping vs Money Management

I'm new here (but not new to the game) and I'm guessing that this topic has previously been discussed here...but here goes anyway
In my humble opinion I'm a better handicapper than I am a money manager...
If you have a selection that is going off at better than 4-1 and the actual odds are higher than your "fair odds" line... which betting strategy do you subscribe too??....win/place or spreading in the exotics??
For me I tend to do better with win/place bets...I have found that to many times my key horse opinion was good but that I either spread to far in the exotics or did not spread far enough.
I think what I'm trying to say here is that the risk/reward ratio is usually better with a win/place wager than with an exotic...if you spread to far then you need to weigh the risk of not getting a 4-1 return...if you don't spread far enough then you need to weigh the risk of getting no return

Any thoughts from any of you successful money managers???