Trading Bases by Joe Peta audiobook

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

By Joe Peta
Read by Fred Sanders

Random House Audio 9780525953647
9.61 Hours 1
Format : Digital Download (In Stock)
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    ISBN: 9780385363341

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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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Summary

Summary

An Amazon Best Book of the Month for March2013

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.

Editorial Reviews

Editorial Reviews

“Joe Peta has a wonderful story to tell and precious insights into the evaluation of talent, investments, and risk…You will find Trading Bases absolutely irresistible.” Tyler Cowen, New York Times bestselling author of The Great Stagnation
“Peta’s hardheaded but warmhearted narrative…is that rare finance saga that’s both smart and loads of fun.” Publishers Weekly
“How can businesses on Wall Street and beyond apply thinking used by baseball sabermetricians to strengthen their own organizations? The answers, and how Peta arrived at them, make for great reading.” Booklist
“A fun approach.” Kirkus Reviews
“A very entertaining read.” Dave Flemming, play-by-play announcer for the San Francisco Giants and ESPN national sportscaster

Reviews

Reviews

Author

Author Bio: Joe Peta

Author Bio: Joe Peta

Joe Peta was a Wall Street market maker and hedge fund stock trader for fifteen years. A sports bettor for many years and a lifelong baseball fan, he lives in San Francisco.

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Details

Details

Available Formats : Digital Download
Runtime: 9.61
Audience: Adult
Language: English