Moneyball

Michael Monroe Lewis

Moneyball

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22min

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Moneyball tells the story of a baseball team that challenged the system using innovative strategies based on advanced statistical analysis. The book challenges many entrenched conventions and demonstrates that it is in fact possible to achieve great results even with limited resources, if you take a different and creative approach. The author tells the story of when Billy Beane, a former professional player, became general manager of Oakland Athletics, and in 1997, hired Paul DePodesta as his right hand man. By using saber metric analysis, and with a painfully tight budget, the two managed to pull together a powerful team, and the Athletics climbed the league in a way that absolutely nobody could have seen coming. The unexpected success of this scrappy team convinced Michael Lewis to write this book in 2003 and, eight years later, it was made into a film starring Brad Pitt and Jonah Hill.

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Analysis and key concepts

01.

In the baseball tradition, the selection of new players has always been based on a mixture of direct observation and intuition, but there’s no real method to it and old habits are not to be questioned

02.

New ways of measuring players’ ability and values by recording match data was already beginning to take hold 1970’s, but no one had really used this system to its full potential- YET-

03.

Billy Bean: the rising baseball star who became a revolutionary manager

04.

Bean and his staff were met with opposition from the old school thinkers, who wanted to do things their way

05.

Despite his hot headed nature, as manager of the Oakland Athletics, Billy Beane revolutionised the management of Major League Baseball

06.

Their innovative selection strategy helped The Oakland Athletics compete with the most successful teams in Major League Baseball

07.

Baseball teams with limited financial resources come up against a whole host of problems. Since they have no money to throw at them, they need to come up with creative ways to solve them

08.

The concept of “value” in baseball has always been misunderstood or underestimated by traditional teams, whose success is based on their budget

09.

As the changes began to take hold, all Billy Beane wanted was to prove that he had been right, and everyone else was wrong

10.

Quotes

11.

Take-home message

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Many useful tips to:

  • Experience the amazing comeback story of the Oakland Athletics.
  • Appreciate that a unique approach to adversity can help you get through anything.
  • Enjoy one of the most influential sports books ever written (even if you know absolutely nothing about baseball).

Michael Monroe Lewis was born in New Orleans in 1960, and attended Princeton University, where he graduated in art history. After attending the London School of Economics, he began a career on Wall Street in the 1980’s as a bond salesman at Salomon Brothers. Thirty years on, he became a best-selling author with several huge hits to his name. Lewis has also been a contributor at Vanity Fair since 2009, where he writes mainly about business, finance, and economics. Most notably, he is known for his nonfiction and reporting work on financial crises and behavioural finance.

Publishing house:

W.W. Norton & Company

Year:

20004

Pages:

336

ISBN:

978-0393324815