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Apr 21 2013

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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 41 percent return in his first year. Trading Bases explains how he did it. After the fall of Lehman Brothers, Joe Peta needed a new employer. He found a new job in New York City but lost that, too, when an ambulance mowed him down as he crossed the street on foot. 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 bettin

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