The Extra 2%

Internet good guy and friend, Jonah Keri, is out with his first book, The Extra 2%: How Wall Street Strategies Took a Major League Baseball Team from Worst to First:

In The Extra 2%, financial journalist and sportswriter Jonah Keri chronicles the remarkable story of one team’s Cinderella journey from divisional doormat to World Series contender. When former Goldman Sachs colleagues Stuart Sternberg and Matthew Silverman assumed control of the Tampa Bay Devil Rays in 2005, it looked as if they were buying the baseball equivalent of a penny stock. But the incoming regime came armed with a master plan: to leverage their skill at trading, valuation, and management to build a model twenty-first-century franchise that could compete with their bigger, stronger, richer rivals—and prevail.

Check out an excerpt in GQ, and one on ESPN. Here’s a bit about how the Rays missed on Albert Pujols even though one of their scouts loved him and they could have gotten him for a flyer.

They still worried about the player’s build, as Jennings had earlier, and wondered what position he would play. This was especially odd, since the player didn’t get much chance to try out at third base, his natural position, or first, where Arango thought he could also fare well. Many skeptics also wondered about his age: he was born in the Dominican Republic, didn’t move to the United States until high school, and always looked old for the age he was supposed to be. Meanwhile, the player’s agent was new to the gig, and that uncertainty raised fears that just signing the guy could become dicey, even in the later rounds. Besides, the Devil Rays had their targeted names up on the draft board, and the draft was flying by. Jennings wasn’t ignoring Arango’s projection per se. There was just so much other stuff going on that they didn’t give it much thought. By the time you get past the tenth round, most players have no shot of ever sniffing the big leagues, let alone becoming productive regulars, let alone becoming the kind of superstar Arango envisioned. No big deal.

Congrats, Jonah!

The Extra 2%

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