July 26, 2010

Baseball imitates real life

How understanding luck in baseball can help understanding real life, or at least your investment portfolio: "Untangling skill and luck" by Michael J. Mauboussin.

Mauboussin uses a variety of sabermetric analysis, including Jim Albert's 2004 paper “A Batting Average: Does It Represent Ability or Luck?” and Tango's True Talent Level analysis.

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