The name of the game is getting back more value than you give up. When I look to make a trade, I will accept nothing less. It a basic theory that may come as no surprise to seasoned market veterans, but is worth reiterating because a lot of newcomers can be intimidated and lose sight of the basics. If I am spending real money, I want some sort of advantage that will increase my chances of winning. By buying deep-in-the-money calls, my advantage is that I am getting exposure to the world's best companies at a fraction of the cost of the common stock. In baseball, finding value in trades and players is a difficult and extremely important task that requires a ton of homework and judgment. Meanwhile, the Phillies and Rays are locked in a holding pattern after rain stopped Game 5 of the World Series last night in the sixth inning with the score tied 2-2.
Today, I will avoid deconstructing the impact of this turn of events. We will find out soon enough as the teams finish the remaining innings tomorrow. A win, and the Phillies are world champions. A loss and the Rays stay alive and are one step closer to climbing out of the 3-to-1 hole they have put themselves in. However, helping the Phils get to within one victory of the crown has been finding value in new players and then finding a way to add them to their roster. Two great examples are Brad Lidge and Jayson Werth. Everyone knows about Chase Utley, Ryan Howard and Jimmy Rollins. They have also heard about the rise of Cole Hamels at the front of the rotation. However, Pat Gillick made a few great transactions the last two years that haven't received nearly as much fanfare but have resulted in greatly improved the team.