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suggested reading...


Chili83

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http://www.amazon.com/The-Worst-Team-Money-Could/dp/0803278225#_

 

30 pages in, and nothing has been as much of a comfort as this beautifully crafted baseball memoir. Forget the best sellers, this is Halo Nation required reading. Pick up a used copy for about $8 bucks after shipping.

 

A good companion while you have the latest loss playing in the background.

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My favorite move is how they decided to let Bobby Bonilla defer his final year of salary for 11 years and in effect ended up paying him $29.8 million instead of just buying him out for $5.9 million.

 

$29.8M paid as 15 year annuity starting 11 years in the future is actually equal to a 2001 present-value of $5.9M if you assume an interest rate of something like 5-6%. Since the Mets were getting something like 10% a year returns on all their Madoff investments at the time they figured they were coming out ahead. 

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