Picking stocks is essentially the same as picking a successful daily fantasy football team, according to Trip Ives, founder of Stat Shark, a daily fantasy football analytics tool.
Ives started his career off as a fund manager before leaving Wall Street to start Stat Shark upon hearing about the growing popularity of fantasy sports.
"If you look at daily fantasy sports, it's a true analog of the financial markets," Ives told TheStreet. "What we see are a number of assets, in this case players, and we do a price analysis on those players. Combine them into relatively small portfolios, which we call lineups. We then submit those to the clearing house."
Fantasy football alone was a $7 billion industry at the end of 2017, with 59.3 million players in the U.S. and Canada playing the game and spending an average of $556 per person, according to the Fantasy Sports Trade Association.
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