An ex-Wall Street trader improved on Moneyball’s famed sabermetrics to place bets that would beat the Vegas odds on Major League Baseball games - with a 41 percent return in his first year. Trading Bases explains how he did it.
After the fall of Lehman Brothers, Joe Peta was out of a job. He found a new one but lost that, too, when an ambulance mowed him down. In search of a way to cheer himself up while he recuperated in a wheelchair, Peta started watching baseball again, as he had growing up. That’s when inspiration hit: Why not apply his outstanding risk-analysis skills to improve on sabermetrics, the method made famous by Moneyball - and beat the only market in town, the Vegas betting line? Why not treat MLB like the S&P 500?
In Trading Bases, Peta shows how to subtract luck - in particular "cluster luck", as he puts it - from a team’s statistics to best predict how it will perform in the next game and over the whole season. His baseball "hedge fund" returned an astounding 41 percent in 2011 - and has never been down more than 5 percent. Peta takes listeners to the ballpark in San Francisco, trading floors and baseball bars in New York, and sports books in Vegas, all while tracing the progress of his wagers.
Often humorous, occasionally touching, and with a wink toward the sheer implausibility of the whole project, Trading Bases is all about the love of critical reasoning, trading cultures, risk management, and baseball. And not necessarily in that order.
©2013 Joe Peta (P)2013 Random House Audio
Say something about yourself!
I have recommended it to my brothers and family. Every stock broker can learn something from this book.
The casual baseball stories Joe Peta tells.
His daughters first baseball game.
Some moments made me laugh and other made me sad. Baseball has that effect on people. This guy knows baseball and transmits it clearly.
Captured from the first chapter. Great baseball insights. I do not gamble but the complexity of the analysis had many applications.
This is an excellent book. It's fascinating to hear how the author combined his love of the game and his experience from Wall Street to profit by gambling on baseball. I love baseball and I'm not opposed to gambling on sports. I've never bet on baseball, partly because I didn't understand how it worked. The book explains in great detail about betting baseball and how it's very possible to use data to gain an edge. There are chapters that go over various odds and statistics for each team. I found those sections a little boring in the audiobook format but I'm sure they were great on paper. Still overalls it's an awesome book and the narrator did a great job.
Certainly honored the man who read Born to Run -- a staple on the iPods of many of my running friends -- ended up reading my words.
I only read non-fiction and I only read books that I can learn from, otherwise honestly I am just wasting my time. Joe is not only a genius but he is a great story teller and writer.
The story was able to describe somewhat complicated concepts in a very simple easy to understand manner.
Fred did a good job. After a while you felt that Fred was in fact Joe which is the entire goal of a narrator.
I would recommend this book to ANY sports fan, anyone who bets on sports, anyone who loves baseball, and anyone in the financial business.
We always hear this phrase about a good narrator that he's so good we could listen to him/her read a phone book. Well now's your chance. This book is mostly the reading of tables like baseball lineups and standings or computations of probable wins.
What editor thought this would be a good idea?
I want my money back.
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