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Trading Bases: A Story About Wall Street, Gambling, and Baseball (Not Necessarily in That Order)
(OverDrive MP3 Audiobook, OverDrive Listen)

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Published:
Books on Tape 2013
Format:
OverDrive MP3 Audiobook, OverDrive Listen
Edition:
Unabridged
Status:
Available from OverDrive
Description
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.
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Street Date:
03/07/2013
Language:
English
ISBN:
9780385368582
Citations
APA Citation (style guide)

Joe Peta. (2013). Trading Bases: A Story About Wall Street, Gambling, and Baseball (Not Necessarily in That Order). Unabridged Books on Tape.

Chicago / Turabian - Author Date Citation (style guide)

Joe Peta. 2013. Trading Bases: A Story About Wall Street, Gambling, and Baseball (Not Necessarily in That Order). Books on Tape.

Chicago / Turabian - Humanities Citation (style guide)

Joe Peta, Trading Bases: A Story About Wall Street, Gambling, and Baseball (Not Necessarily in That Order). Books on Tape, 2013.

MLA Citation (style guide)

Joe Peta. Trading Bases: A Story About Wall Street, Gambling, and Baseball (Not Necessarily in That Order). Unabridged Books on Tape, 2013.

Note! Citation formats are based on standards as of July 2022. Citations contain only title, author, edition, publisher, and year published. Citations should be used as a guideline and should be double checked for accuracy.
Copy Details
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Anne Arundel County Public Library11
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Grouped Work ID:
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Needs Update?:
No
Date Added:
Jun 03, 2017 07:25:56
Date Updated:
Dec 06, 2020 04:26:18
Last Metadata Check:
Jan 29, 2023 06:30:42
Last Metadata Change:
Jan 15, 2023 22:49:05
Last Availability Check:
Jan 29, 2023 06:30:44
Last Availability Change:
Jan 15, 2023 22:49:07
Last Grouped Work Modification Time:
Feb 01, 2023 04:07:44

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title
Trading Bases
fullDescription
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.
reviews
      • premium: True
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      • content:

        December 10, 2012
        A Wall Street honcho takes his analytic skills to the big leagues in this rollicking financial adventure. With time on his hands after losing his job and getting run over by an ambulance, Peta, a former Lehman Brothers stock trader, concocted a numerical model that he hoped would predict the outcomes of Major League baseball games better than Las Vegas oddsmakers did—and turned his betting on the 2011 season into a toy investment fund. His lark prompts a fascinating tour of the science of “sabrmetrics,” which translates individual players’ stats—home runs, strike outs, and more exotic performance measures—into win-loss forecasts and playoff picks. (The deftly explained math only enhances the ball-park drama, especially when the Minnesota Twins go on an unexpected winning streak that threatens to sink the fund’s returns.) The author applies his baseball-gleaned insights on the all-important difference between luck and skill to Wall Street’s betting parlors, probing Lehman Brothers’ disastrous risk-management failures and wondering why traders aren’t evaluated as shrewdly as pitchers are. Peta’s hardheaded but warmhearted narrative reads like a mashup of Liar’s Poker and Moneyball peppered with besotted evocations of emerald green outfields and sports-bar camaraderie. His is that rare finance saga that’s both smart and loads of fun.

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shortDescription
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...
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