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Have any of you guys read the book "Trading Bases"?
Posted on 6/14/16 at 6:25 pm
Posted on 6/14/16 at 6:25 pm
I'm halfway through listening to it and it's been fascinating. I highly recommend it to any baseball fans, but honestly I think even people who don't love baseball would find it very interesting
quote:
An ex–Wall Street trader improved on Moneyball’s famed sabermetrics and beat the Vegas odds with his own betting methods. Here is the story of how Joe Peta turned fantasy baseball into a dream come true.
Joe Peta turned his back on his Wall Street trading career to pursue an ingenious—and incredibly risky—dream. He would apply his risk-analysis skills to Major League Baseball, and treat the sport like the S&P 500.
In Trading Bases, Peta takes us on his journey from the ballpark in San Francisco to the trading floors and baseball bars of New York and the sportsbooks of Las Vegas, telling the story of how he created a baseball “hedge fund” with an astounding 41 percent return in his first year. And he explains the unique methods he developed.
Along the way, Peta provides insight into the Wall Street crisis he managed to escape: the fragility of the midnineties investment model; the disgraced former CEO of Lehman Brothers, who recruited Peta; and the high-adrenaline atmosphere where million-dollar sports-betting pools were common.
Posted on 6/14/16 at 6:36 pm to 5 Deep
Might have to give this one a read.
Posted on 6/14/16 at 6:51 pm to 5 Deep
Sounds interesting. Why did he quit ?
Posted on 6/14/16 at 7:40 pm to Overbrook
Damn definitely sounds awesome. The sort of superdorks you see in things like Moneyball and The Big Short fascinate the hell out of me. How those guys can analyze things and think so differently than the accepted norm is incredible.
Posted on 6/14/16 at 7:41 pm to 5 Deep
Thanks for the rec. I've almost ordered this on Amazon a couple times but never pulled the trigger
Posted on 6/14/16 at 10:45 pm to BCMCubs
Just ordered it for my kindle. Looks like a damn good read
Posted on 6/15/16 at 6:35 am to Overbrook
He quit because his system can't scale for him to make enough money to justify the opportunity cost. If he was running a fund with millions, he would consistently be moving lines etc.
Posted on 6/15/16 at 8:50 am to 5 Deep
Good book. I'm a huge baseball fan, and I think I may have enjoyed the part about his work experience more than the baseball meat and potatoes. I would definitely recommend it.
Posted on 6/15/16 at 9:05 am to MikeTheTiger2893
Makes sense. The only scalable sport through and through is the NFL, and there just arent enough games to make a return on. They played 162 like baseball and kept the NFL level of per game action, it could be done.
This post was edited on 6/15/16 at 9:06 am
Posted on 6/15/16 at 10:37 am to Overbrook
Very good book and I really enjoyed it. Get ready for some of his random tangents though.
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