Moneyball (Lewis)

Moneyball: The Art of Winning an Unfair Game
Michael Lewis, 2003
W.W. Norton & Co.
320 pp.
ISBN-13: 9780393324815

Summary
The Oakland Athletics have a secret: a winning baseball team is made, not bought. In major league baseball the biggest wallet is supposed to win: rich teams spend four times as much on talent as poor teams.

But over the past four years, the Oakland Athletics, a major league team with a minor league payroll, have had one of the best records. Last year their superstar, Jason Giambi, went to the superrich Yankees. It hasn't made any difference to Oakland: their fabulous season included an American League record for consecutive victories. Billy Beane, general manager of the Athletics, is putting into practice on the field revolutionary principles garnered from geek statisticians and college professors.

Michael Lewis's brilliant, irreverent reporting takes us from the dugouts and locker rooms—where coaches and players struggle to unlearn most of what they know about pitching and hitting—to the boardrooms, where we meet owners who begin to look like fools at the poker table, spending enormous sums without a clue what they are doing.

Combine money, science, entertainment, and egos, and you have a story that Michael Lewis is magnificently suited to tell. (From the publisher.)

Moneyball became a 2011 film staring Brad Pitt.

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Author Bio
• Birth—October 15, 1960
• Where—New Orleans, Louisiana, USA
• Education—B.A., Princeton; M.B.A., London School of Economics
• Currently—Currently—lives in Berkeley, California


Michael Lewis is an American contemporary non-fiction author and financial journalist. His bestselling books include Flash Boys: A Wall Street Revolt (2014); The Big Short: Inside the Doomsday Machine (2010); The Blind Side: Evolution of a Game (2006); Moneyball: The Art of Winning an Unfair Game (2003); and Liar's Poker (1989).

Background
Lewis was born in New Orleans to corporate lawyer J. Thomas Lewis and community activist Diana Monroe Lewis. He attended the private, nondenominational, co-educational college preparatory Isidore Newman School in New Orleans. Later, he attended Princeton University where he received a BA in art history in 1982 and was a member of the Ivy Club.

After graduating from Princeton, he went on to work with New York art dealer Daniel Wildenstein. Despite his degree in art history, he nonetheless wanted to break into Wall Street to make money. After leaving Princeton, he tried to find a finance job, only to be roundly rejected by every firm to which he applied. He then enrolled in the London School of Economics to pursue a Master's degree in economics.

While still in England, Lewis was invited to a banquet hosted by the Queen Mother at St. James's Palace. His cousin, Baroness Linda Monroe von Stauffenberg, one of the organizers of the banquet, purposely seated him next to the wife of the London Managing Partner of Salomon Brothers. The hope was that Lewis, just having obtained his master's degree, might impress her enough for her to suggest to her husband that Lewis be given a job with Salomon Bros.—which had previously turned him down. The strategy worked: Lewis was granted an interview and landed a job.

As a result of the job offer, Lewis moved to New York City for Salomon's training program. There, he was appalled at the sheer bravado of most of his fellow trainees and indoctrinated into the money culture of Salomon and Wall Street in general.

After New York, Lewis was shipped to the London office of Salomon Brothers as a bond salesman. Despite his lack of knowledge, he was soon handling millions of dollars in investment accounts. In 1987, he witnessed a near-hostile takeover of Salomon Brothers but survived with his job. However, growing disillusioned with his work, he eventually quit to write Liar's Poker and become a financial journalist.

Writing
Lewis described his experiences at Salomon and the evolution of the mortgage-backed bond in Liar's Poker (1989). In The New New Thing (1999), he investigated the then-booming Silicon Valley and discussed obsession with innovation.

Four years later, Lewis wrote Moneyball (2003), in which he investigated the success of Billy Beane and the Oakland A's. In August 2007, he wrote an article about catastrophe bonds entitled "In Nature's Casino" that appeared in the New York Times Magazine.

The Big Short, about a handful of scrappy investors who foresaw the 2007-08 subprime mortgage debacle, came out in 2010. Flash Boys, detailing high-speed trading in stock and other markets, was published in 2014. Like both The Big Short and Moneyball, the book features an underdog type who is ahead of the pack in understanding his industry.

Lewis has worked for The Spectator, New York Times Magazine, as a columnist for Bloomberg, as a senior editor and campaign correspondent to The New Republic, and a visiting fellow at the University of California, Berkeley. He wrote the "Dad Again" column for Slate. Lewis worked for Conde Nast Portfolio but in February 2009 left to join Vanity Fair, where he became a contributing editor.

Film
The film version of Moneyball, starring Brad Pitt, was successfully released in 2011. The Big Short, with its all-star cast—Christian Bale, Steve Carell, Ryan Gossling, and Brad Pitt—came out in 2015 to top reviews.

Personal life
Lewis married Diane de Cordova Lewis, his girlfriend prior to his Salomon days. After several years, he was briefly married to former CNBC correspondent Kate Bohner, before marrying the former MTV reporter Tabitha Soren in 1997. Lewis lives with Tabitha, two daughters, and one son (Quinn, Dixie, and Walker) in Berkeley, California. (Adapted from Wikipedia. Retrieved 1/11/2016.)

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Book Reviews
Whether Billy Beane is a prophet or a flash in the pan remains to be seen. In either case, by playing Boswell to Beane's Samuel Johnson, Lewis has given us one of the most enjoyable baseball books in years.
Lawrence S. Ritter - New York Times

The Oakland Athletics have reached the post-season playoffs three years in a row, even though they spend just one dollar for every three that the New York Yankees spend. Their secret, as Lewis's lively account demonstrates, is not on the field but in the front office, in the shape of the general manager, Billy Beane. Unable to afford the star hires of his big-spending rivals, Beane disdains the received wisdom about what makes a player valuable, and has a passion for neglected statistics that reveal how runs are really scored. Beane's ideas are beginning to attract disciples, most notably at the Boston Red Sox, who nearly lured him away from Oakland over the winter. At the last moment, Beane's loyalty got the better of him; besides, moving to a team with a much larger payroll would have diminished the challenge.
The New Yorker

[An] ebullient, invigorating account of how an unconvential general manger named Billy Beane rebuilt the A's, a team with the second lowest payroll in baseball, into a team that won 103 games last year—as many as the filthy-rich Yankees.
Time

One of the best baseball—and management—books out. It chronicles and examines the extraordinary success of the Oakland Athletics' general manager, Billy Beane, who is a colorful mix of genius, discipline and emotion. If you ever come across anyone connected with professional baseball and want to witness an interesting sight, just mention Beane and this book—there will be gurgling, sputtering, angry mutterings.
Forbes


Lewis (Liar's Poker; The New New Thing) examines how in 2002 the Oakland Athletics achieved a spectacular winning record while having the smallest player payroll of any major league baseball team. Given the heavily publicized salaries of players for teams like the Boston Red Sox or New York Yankees, baseball insiders and fans assume that the biggest talents deserve and get the biggest salaries. However, argues Lewis, little-known numbers and statistics matter more. Lewis discusses Bill James and his annual stats newsletter, Baseball Abstract, along with other mathematical analysis of the game. Surprisingly, though, most managers have not paid attention to this research, except for Billy Beane, general manager of the A's and a former player; according to Lewis, "[B]y the beginning of the 2002 season, the Oakland A's, by winning so much with so little, had become something of an embarrassment to Bud Selig and, by extension, Major League Baseball." The team's success is actually a shrewd combination of luck, careful player choices and Beane's first-rate negotiating skills. Beane knows which players are likely to be traded by other teams, and he manages to involve himself even when the trade is unconnected to the A's. " 'Trawling' is what he called this activity," writes Lewis. "His constant chatter was a way of keeping tabs on the body of information critical to his trading success." Lewis chronicles Beane's life, focusing on his uncanny ability to find and sign the right players. His descriptive writing allows Beane and the others in the lively cast of baseball characters to come alive.
Publishers Weekly


A solid piece of iconoclasm: the intriguing tale of Major League baseball's oddfellows—the low-budget but winning Oakland Athletics. Here's the gist, that baseball, from field strategy to player selection, is "better conducted by scientific investigation—hypotheses tested by analysis of historical baseball data—than be reference to the collective wisdom of old baseball men." Not some dry, numbing manipulation of figures, but an inventive examination of statistics, numbers that reveal what the eye refuses to see, thanks to ingrained prejudices. As in most of Lewis's work (The New New Thing, 1999, etc.), a keen intellect is at work, a spry writing style, a facility to communicate the meaning of numbers, an infectious excitement, and a healthy disdain for the aura and power of big bucks. Such is the situation here: The Oakland A's have a budget that would hardly cover the Yankee's chewing tobacco. Their General Manager, Billy Beane, and his band of Harvard-educated assistants, are the heirs of Bill James (of whom there is an excellent portrait here). They creatively use stats to discover unsung talent—gems not so much in the rough as invisible to the overburden of received wisdom—a guy who will get on base despite being shaped like a pear or control the strike zone even if his fastball can't get out of third gear, measuring the measurables to garner fine talent at basement prices. At least for a few seasons, until the talent's worth is common knowledge and off they go to clubs who can pay them millions. And the A's win, and win and win, not yet to a Series victory, but edging closer. The story clicks along with steady momentum, and possesses excellent revelatory powers. There s a method to the madness of the Beane staff, and Lewis incisively explains its inspired, heretical common sense. Has Lewis spilled Beane's beans? Maybe so, but considering the mulish dispositions of baseball's scouts and front offices, they'll miss the boat again.
Kirkus Reviews

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Discussion Questions
Use our LitLovers Book Club Resources; they can help with discussions for any book:

• How to Discuss a Book (helpful discussion tips)
• Generic Discussion Questions—Fiction and Nonfiction
• Read-Think-Talk (a guided reading chart)

Also consider these LitLovers talking points to help get a discussion started for Moneyball:

1. Michael Lewis writes of Billy Beane, "it was hard to know which of Billy's qualities was most important to his team's success." What are those qualities? What kind of character is Beane? And what do you think most accounts for his success in remaking the A's?

2. Why does Billy Beane stop playing baseball, which seems to Lews an unimaginable decision. What explanation is offered? Why do you think Beane quit playing?

3. What does Lewis mean by the following passage...and what are baseball's "eternal themes?

The old scouts are like a Greek chorus; it is their job to underscore the eternal themes of baseball. The eternal themes are precisely what Billy Beane wants to exploit for profit—by ignoring them.

4. Follow-up to Question 3: Talk about the way Beane turns received wisdom on its head: his theory of selecting players. In his eyes, what makes a player valuable?

5. How has measuring each player's on-base percentage, for instance, revolutionized baseball strategy, at least in Oakland?

6. Are the geeks going to take over sports (as well as the rest of the world)—is their cutting-edge analytical data the future? Put another way—is Beane a "flash in the pan" as the New York Times reviewer wonders? Have Beane's methods truly redefined the way baseball is...and will be played?

7. What does the book's subtitle mean by "an unfair game"? Why "unfair"?

8. Follow-up to Question 7: Newsweek columnist George Will, an avid baseball fan, once proposed that teams pool financial resources so as to level the playing field between big media market teams and small market teams. How do you feel about his proposal? (Will, by the way, is a conservative in politics, despite his socialistic approach to sports.)

9. Who is Lewis referring to, and what does he mean, when he writes...

Baseball offered a comfortable seat to the polysyllabic wonders who quoted dead authors and blathered on about the poetry of motion. These people dignified the game, like a bow tie?

Lewis goes on to say that those polysyllabic wonders "were harmless. What was threatening was cold, hard intelligence." What was threatening about data?

10. Lewis gives us Beane-in-action as he trades players. What are some of the tactics Beane uses to outfox his opponents?

11. Who are some of the other characters Lewis describes? Bill James? Jeremy Brown? Any other vignettes you found particularly engaging?

12. In his review of Moneyball, Steve Forbes points out that the three players who formed the foundation of the A's success—Tim Hudson, Barry Zito, and Mark Mulder—were "the kind of players any GM would have taken." He also points out that other small-budget teams have had similar successes: Seattle Mariners and the Anaheim Angels (a mid-level budget) for instance. Does Forbes's arguments undermine the premise of Michael Lewis's book...and Beanes' analytical approach?

(Questions by LitLovers. Please feel free to use them, online or off, with attribution. Thanks.)

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