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Trading Bases: A Story About Wall Street, Gambling, and Baseball (Not Necessarily in That Order )

Trading Bases A Story About Wall Street Gambling and Baseball Not Necessarily in That Order 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 percent return in his first year Trading Bases

  • Title: Trading Bases: A Story About Wall Street, Gambling, and Baseball (Not Necessarily in That Order )
  • Author: Joe Peta
  • ISBN: 9780525953647
  • Page: 170
  • Format: Hardcover
  • 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 aAn 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 SP 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 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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      Published :2019-01-19T17:04:56+00:00

    1 thought on “Trading Bases: A Story About Wall Street, Gambling, and Baseball (Not Necessarily in That Order )

    1. One of my favorite books of late, and probably ever. The author, a trader by profession, spends a year betting on baseball (of which he is a lifelong fan) after losing his job post-financial-crisis. This memoir is a combination of his baseball betting strategy, his observations on Wall Street, and his ruminations on being a baseball fan (and how that was passed down from his father, and to his daughter)--I enjoyed all three. Peta has a self-deprecating sense of humor, and surprisingly little ego [...]

    2. Joe Peta is very obviously a baseball fan; nobody who isn't a fan of baseball would take the time to learn all about sabermetrics and create their own model for betting on baseball games. This passion comes through whenever he talks about baseball in this book. However, he doesn't always talk about baseball. Much of this book is devoted to financial analogies and anecdotes from his fifteen years on wall street. While the finance and trading discussions are often interesting, it seemed like Peta [...]

    3. If you're looking for a get-rich-quick book, this is not it. You'll need some money to start with and then you'll have to invest a lot of time and effort getting into the statistics that Joe Peta lays out in Trading Bases. You have to give him credit -- usually when the blurb says "this book tells you how to do it," it's just a come on, but Trading Bases really gets into the weeds of baseball stats and Wall Street trading. As a former fan of baseball (it was all downhill for me after the 1974 Wo [...]

    4. In Trading Bases, Joe Peta gives the gift of valuable information, and loads of it. If you have any interest in baseball and/or sports betting, this book is a must read. Peta breaks down the math and stats of baseball extensively while effectively weaving in compelling and relevant stories from Wall Street and his personal life. It reads like a combo of Liar's Poker and Moneyball -- two of the best books on Wall Street and baseball.Peta displays a rare blend of storytelling ability, mathematical [...]

    5. Trading Bases is the story of a former Wall Street equity trader who attempts to use the science of sabermetrics to bet on baseball games in a systematic way. It has some similarity to Moneyball in terms of the sabermetric concept - but Moneyball (the story of Billy Beane's use of statistics to find undervalued baseball players to field a low-budget Oakland A's team) uses sabermetrics to field a team, whereas Peta uses the same metrics to place wagers in Vegas. Peta effectively starts his own "i [...]

    6. I really enjoyed Trading Bases, for a number of reasons. First, as a baseball fan, author Joe Peta's love for the game was clearly evident and it's hard not to appreciate another baseball guy. Plus, we're pretty close in age so we both came of age during the same time period and for that reason our baseball memories are very similar. I am a sucker for a good baseball book and this is definitely a good baseball book.Also, I have always had a sort of love/hate relationship with sports betting. I l [...]

    7. I really wanted to like this book. I feel like I should be the target audience for this book. I am a regular Baseball Prospectus reader, I have a good grasp on sabermetrics and I listen to the baseball betting shows on the Betting Dork podcast. I guess the problem is that I wasn't. I know I'm not actually anywhere near as smart as Joe Peta, but I feel like if I was unemployed and housebound I could probably replicate what he did. So this was a less interesting book since the how-to aspect didn't [...]

    8. Joe Peta a former wall street trader wrote this book about his development of a baseball betting strategy based on his experience as a trader. He claims success based on selecting wagers from an advantage based metrics type approach in essence as one would pick stocks and similar financial wagers.I skipped through his chapter on the formulation of the strategy as it got a bit technical and wanted to get an overall impression of his wagering experience. I do not doubt he successfully implemented [...]

    9. The author uses sabermetrics to try and beat the odds makers for betting on baseball. He created a mathematical model and used it for the 2011 baseball season. He tries to show how baseball betting is like investing in the financial markets since his job was as a financial analyst on Wall Street before he was fired because he got into an accident and had an extensive rehab. He also displays a love of the sport when he grew up as a Phillies fan. It has many fascinating insights using sabermetrics [...]

    10. A former trader at Lehman Brothers, Joe Peta was sidelined by an auto accident early in 2011. Confined to bed, he rekindled his love for baseball, and devised a system that, he thought, would enable him to make money betting on ballgames during the 2011 season. How he came up with his model--and how he fared--forms the narrative of Trading Bases. He's a decent writer, not great, and, oddly, saves some of his best lines for the footnotes. I liked this book but that's mostly because I love basebal [...]

    11. Trading Bases appealed to me because I happen to be interested in all three of Peta’s topics, but I wonder how small of a niche readership that is. If you’re in that niche, I recommend this book – it’s a light read, not too heavy on the technical details (but not entirely devoid of them either) with some pretty neat insights. And if you’re not, lament the fact that Peta didn’t enlist a writer better than himself to tell what is actually an interesting tale. Trading Bases is a good bo [...]

    12. GREAT READ I'm an average baseball fan, occasionally gamble and don't really consider myself a numbers guy But this book was perfect for me. The narrative drives the story while I learned so much about CLUSTER LUCK, logic, baseball, pop culture, trading and LIFE And the beauty of this read is it stays with you after you read it. I took the book with me on vacation for 4 days and even when I wasn't reading it - I was still thinking about it. Bring this book to the beach!I hope to see much more fr [...]

    13. It's rare to find a "one-off" book like this one which is instructive, entertaining and well-paced. Although the reason for the book could be explained in one well-written article, one doesn't mind that Mr. Peta has blown his idea up into a book because his additional material is so interesting. The mechanics of his baseball betting system are complicated (he doesn't need to worry about competition, I think), but the concept is simple. What lifts the book are his stories and insights into stock [...]

    14. I'm not a baseball aficionado so I didn't get all the discussions around the game and the sabermetrics, but Peta is good at explaining and walking through his logics, enough to captivate someone like me with a superficial understanding of the game. I was more interested in his stories as an ex-Wall Street banker; although the majority of the book was dedicated to baseball analytics, it was fascinating to hear how he applied finance logic (risk and portfolio management) to sports betting.

    15. I enjoyed the premise of the book and Peta writes in a funny style. The man knows how to tell a good story and I laughed out loud more than once.He went pretty quickly through the section on derivatives; he should either have omitted it or explained it better. I do wish that the author had updated us on his status. I hope that he writes more books.

    16. I ate this book up. A former Wall Street trader turned Sabremetric baseball gambler who gives you the details of his model and quotes Bruce Springsteen songs along the way. Almost the definition of my perfect book. Add Nabokov or Updike as a ghost writer and you would have perfection.

    17. Recommended for those who like gambling, the stock market & thinking about baseball in different ways.

    18. good read if you are a baseball fanGood read. There were some pretty complicated parts but I thought the author did a great job of explaining them and adding a lot of fun stories.

    19. It's the story of a Wall Street hedge fund trader that used sabermetrics to find inefficiencies in the baseball sports book. If you know what that sentence means you should enjoy the book.

    20. Intriguing book not sure I understand all the gambling jargon, but cool how he used his business practice into his love of baseball.

    21. I'd amend the subtitle to be "A Story about Wall Street, Gambling, Baseball, and Life." In the first third, I took twice as many notes as the rest of the book, the big ideas for me where all about building the model. Some of my favorite quotes."When Bill James wrote, the reader didn't know he was eating his vegetables." "When trades with positive expected value present themselves on the trading floor, you jump in with both feet." "'at four-0'clock I'm a dinosaur' that line is still a staple beca [...]

    22. Interesting read to say the least, and Joe Peta is a great writer. I imagine I would have enjoyed this book more if I had experience investing or banking, since so many parallels are made between I-banking and sports betting. I checked this book out to better understand the world of sports betting, but wasn't prepared for such in depth statistical data as what he presents and focuses in on. To be honest a lot of it went over my head! I felt like I was in finance class again 😂Still, worth read [...]

    23. The numbers were confounding at times, but the baseball fan in me was fascinated. Peta is a great storyteller. Loved the chapter called Pete's Tavern, spotlighting the best baseball watering holes in various cities.

    24. Among actual professional sports bettors, what we call Joe Peta is an "air bettor". This is someone who pretends to bet real amounts of money and tracks how they WOULD have done. It is clear Joe is an air bettor, or that the size of his fund was nothing more than whatever crumpled dollar bills he could find within reach of the sweat stained couch he was confined to for the duration of 2011 -- a year he was handicapped due to his lack of peripheral vision on the streets of New York when he was ru [...]

    25. Interesting book, but you can see what is going to happen. In short, this is about a Wall Street guy using analytics to find an edge in baseball betting – including numerous finance, baseball, and analytics stories along the way. In the end, he’s gone a year in effect building a fund and betting and making a positive return, then a second year doing almost the same. The end of the book is where this gets interesting. As big money starts to flow into one side of baseball bets based on advance [...]

    26. My most memorable baseball bet came at least 15 years ago. This was back when the Indians were good. Better than good, actually. They were still great, tearing through the late 1990s while annually bashing their way into the playoffs. The worst thing about the Internet is that it records pretty much everything, so perhaps someday by memory will be proven wrong. What I remember about this bet, though, is that I took the Indians and Cardinals combined score to be more than 8½ runs one Saturday af [...]

    27. I got caught up with my magazines and found my reading groove again. I've noticed a trend in my reading habits this year - I seem to be drawn to subjects of interest I had 25 years ago. Jian Ghomeshi, Charles Bukowski, Hunter S. Thompson; I'm reading the autobiography of Ministry's Al Jorgenson; and this, Trading Bases, a stock trader's fascination with gambing and baseball stats - all topics I haven't touched in years. I don't consider myself a sentimental person, so it is odd to revisit the pa [...]

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