DTW Book Club v1
This could fail miserably…but here goes.
I found this gem on Amazon a few days ago (under “Books you may like” what does this say?).
I’m only a few chapters into it, but it is FANTASTIC, and I think that several of you would really enjoy it. Here’s the write-up from Amazon:
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 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– with daily volatility similar to funds he used to trade for. 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.
Far from writing a dry, do-it-yourself guidebook, Peta weaves a story that is often humorous, and occasionally touching; the topic may be “Big Data” but it’s as entertaining as a Bill Simmons column. Trading Bases is all about the love of critical reasoning, trading cultures, risk management, and baseball. And not necessarily in that order.
He’s already brought up “run efficiency” which is something that we discussed on here a few weeks (or months?) ago. If anyone picks it up, let me know and we can discuss.
Categories: 2013 Season, Statistics