Trading Bases: A Story About Wall Street, Gambling, and Baseball (Not Necessarily in That Order ) (Anglais) Relié – 7 mars 2013
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Description du produit
Revue de presse
"A funny and stimulating account of a former stock trader who applies his Wall Street philosophy and knowledge of baseball statistics to try to beat the betting line." - The Chicago Tribune
"His swaggering story, from frantic stock trader to professional sports bettor, is the basis of Trading Bases, an entertaining book about how to turn your passions into profits. Even casual baseball fans could learn from it. Serious fans should slurp it up like ballpark beer." - The Los Angeles Times
Présentation de l'éditeur
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 readers 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.
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Commentaires client les plus utiles sur Amazon.com
This was where the book fell apart for me. Peta is reputed to have made a "fortune" betting on baseball, but we will have to take his word for it. (Given his work on Wall Street in the 90s, a "fortune" might be relative, however.) What I wanted to know were things like the following: who took his bets - Las Vegas casinos? A bookie? Off shore casinos? Other persons at work? How much did he actually bet? What kind of money management did he employ? What did his equity curve look like? Anyone who knew Peta was (or should have been) aware that he would certainly fit the description of "smart" or "sharp" money and this would have made getting bets down difficult, no matter where. To make a "fortune," you have to move a large amount of money around in some manner. You are allowed to do many things in a casino, but winning large amounts of money consistently, (especially betting on sports) is not among them. You'd be 86ed or have the amounts you could wager cut severely. Spreading his action around would have helped. In the end, I'm guessing he did something altogether different, but if he won a fortune, then someone on the other side of his bets lost a fortune. These things, among others, are the details I hoped to read about. Unfortunately, no specific details about how he made his money are forthcoming. If you are considering buying the book for this reason, don't. If you enjoy enjoy baseball, especially the "numbers" and strategy side of it, Trading Bases is an enjoyable read.
Trading Bases is a very well-written memoir that takes you on a journey from Joe's days as a Wall Street broker to building and operating a baseball fund during a summer in Las Vegas. It has a mix of baseball stats, financial lingo, and a bit of gambling strategy intertwined into the story to keep you entertained. A curious mind will be educated on how to successfully approach baseball betting by reading this book as well.
This is easily one of the best books in the area of sports betting. It would be a wise move to add this enjoyable read to your collection.