Trading Bases: How a Wall Street Trader Made a Fortune Betting on Baseball

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Penguin, Mar 7, 2013 - Sports & Recreation - 384 pages
An ex–Wall Street trader improved on Moneyball’s famed sabermetrics and beat the Vegas odds with his own betting methods. Here is the story of how Joe Peta turned fantasy baseball into a dream come true.
 
Joe Peta turned his back on his Wall Street trading career to pursue an ingenious—and incredibly risky—dream. He would apply his risk-analysis skills to Major League Baseball, and treat the sport like the S&P 500.
 
In Trading Bases, Peta takes us on his journey from the ballpark in San Francisco to the trading floors and baseball bars of New York and the sportsbooks of Las Vegas, telling the story of how he created a baseball “hedge fund” with an astounding 41 percent return in his first year. And he explains the unique methods he developed.
 
Along the way, Peta provides insight into the Wall Street crisis he managed to escape: the fragility of the midnineties investment model; the disgraced former CEO of Lehman Brothers, who recruited Peta; and the high-adrenaline atmosphere where million-dollar sports-betting pools were common.
 

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User Review  - kcshankd - LibraryThing

I picked this up last spring, and am very glad I finally got around to it. The author was a Wall Street stock trader who devised a betting system for baseball games while recuperating from getting hit ... Read full review

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User Review  - knightlight777 - LibraryThing

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 ... Read full review

Contents

Manny SanguillénCouldntFindHisCarKeys
How I DiscoveredClusterLuck
Cluster Luck Quantified
Players Performance Projected
The Games Progress 10 The SweetSound of FamiliarVoices 11 A Financial Field of Dreams
Taken Out to the Ball Game
First Quarter Results
The Mental Discomfort of Being Behind
June andthe Vexing Minnesota Twins 16 What Las VegasCan Learn fromthe Trading Floor
Petes Tavern Revisited 18 Clinging to Profitsin July
PART THREE SUCCESS
Focusing on the Wrong Data
Markets Can Remain Irrational 21 Weighting Isthe HardestPart 22 A Winning End to the Season 23 What Does Work in the Playoffs? 24 Launching ...
Hey Dad Wanna Have a Catch?
Acknowledgments
Copyright

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About the author (2013)

After earning an MBA from Stanford’s Graduate School of Business, Joe Peta was a Wall Street market maker and hedge fund stock trader for fifteen years, but he was a sports bettor for even longer. A lifelong baseball fan, he lives in San Francisco with his wife and two daughters.

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