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Have any of you guys read the book "Trading Bases"?

Posted on 6/14/16 at 6:25 pm
Posted by 5 Deep
Crawford Boxes
Member since Jul 2010
21545 posts
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 by Bob Sacamano
Houston, TX
Member since Oct 2008
5277 posts
Posted on 6/14/16 at 6:36 pm to
Might have to give this one a read.
Posted by Overbrook
Member since May 2013
6088 posts
Posted on 6/14/16 at 6:51 pm to
Sounds interesting. Why did he quit ?
Posted by FootballNostradamus
Member since Nov 2009
20509 posts
Posted on 6/14/16 at 7:40 pm to
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 by BCMCubs
Colorado
Member since Nov 2011
22146 posts
Posted on 6/14/16 at 7:41 pm to
Thanks for the rec. I've almost ordered this on Amazon a couple times but never pulled the trigger
Posted by chesty
Flap City C.C.
Member since Oct 2012
12731 posts
Posted on 6/14/16 at 10:45 pm to
Just ordered it for my kindle. Looks like a damn good read
Posted by MikeTheTiger2893
Member since Feb 2009
860 posts
Posted on 6/15/16 at 6:35 am to
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 by DallasTiger45
Member since May 2012
8428 posts
Posted on 6/15/16 at 8:50 am to
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 by Overbrook
Member since May 2013
6088 posts
Posted on 6/15/16 at 9:05 am to
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 by kkhere
Member since Nov 2009
428 posts
Posted on 6/15/16 at 10:37 am to
Very good book and I really enjoyed it. Get ready for some of his random tangents though.
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