A compound bow includes a first and second pulley, each of which is operative, when the bow is drawn, to unwind a portion of a bow string from a bow string groove and to take up a portion of a bow cable so as to decrease its effective length. At least one of the pulleys includes a cable controller which operates to modify the rate at which the effective length of the bow cable is decreasing so that during an initial portion of the draw of the bow, the rate is greater than it would be in the absence of the controller, and during a second portion of the draw, the rate is less than it would be in the absence of the controller. Use of the controller provides a bow which has an inherently balanced draw.