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Stock Market Anomalies and Baseball Cards *
Stock Market Anomalies and Baseball Cards * Joseph Engelberg Linh Le Jared Williams‡ August 2, 2017 Abstract: Baseball cards exhibit anomalies that are analogous to those that have been documented in financial markets, namely, momentum, price drift in the direction of past fundamental performance, and IPO underperformance. Momentum profits are higher among active players than retired players, and among newer sets than older sets. Regarding IPO underperformance, we find newly issued rookie cards underperform newly issued cards of veteran players, and that newly issued sets underperform older sets. The results are broadly consistent with models of slow information diffusion and short-selling constraints. * We thank Jack Bao, Justin Birru (discussant), Dan Bradley, Roni Michaely, Matthew Spiegel, and seminar participants at the University of South Florida and the Financial Intermediation Research Society meeting in Hong Kong (2017) for their useful feedback. ‡ Contact: Joseph Engelberg, University of California – San Diego, Rady School of Management, (Email) [email protected] (Tel) 858-822-7912; Linh Le, University of South Florida, Muma College of Business, (Email) [email protected]; and Jared Williams, University of South Florida, Muma College of Business, (Email) [email protected]. 1 I. Introduction Basic financial theory predicts that stock returns should be unpredictable after adjusting for risks. That is, any abnormal returns earned by trading strategies are either due to random chance or they are compensation for risks that investors care about that are not captured by the asset pricing model. However, financial economists have documented the existence of simple strategies that earn unusually high or low returns despite the fact that the strategies do not load heavily on common risk factors. -
Lot# Title Bids Sale Price 1
Huggins and Scott'sAugust 7, 2014 Auction Prices Realized SALE LOT# TITLE BIDS PRICE 1 Ultimate 1974 Topps Baseball Experience: #1 PSA Graded Master, Traded & Team Checklist Sets with (564) PSA12 10,$ Factory82,950.00 Set, Uncut Sheet & More! [reserve met] 2 1869 Peck & Snyder Cincinnati Red Stockings (Small) Team Card SGC 10—First Baseball Card Ever Produced!22 $ 16,590.00 3 1933 Goudey Baseball #106 Napoleon Lajoie—PSA Authentic 21 $ 13,035.00 4 1908-09 Rose Co. Postcards Walter Johnson SGC 45—First Offered and Only Graded by SGC or PSA! 25 $ 10,072.50 5 1911 T205 Gold Border Kaiser Wilhelm (Cycle Back) “Suffered in 18th Line” Variation—SGC 60 [reserve not met]0 $ - 6 1915 E145 Cracker Jack #30 Ty Cobb PSA 5 22 $ 7,702.50 7 (65) 1909-11 T206 White Border Singles with (40) Graded Including (4) Hall of Famers 16 $ 2,370.00 8 (37) 1909-11 T206 White Border PSA 1-4 Graded Cards with Willis 8 $ 1,125.75 9 (5) 1909-11 T206 White Borders PSA Graded Cards with Mathewson 9 $ 711.00 10 (3) 1911 T205 Gold Borders with Mordecai Brown, Walter Johnson & Cy Young--All SGC Authentic 12 $ 711.00 11 (3) 1909-11 T206 White Border Ty Cobb SGC Authentic Singles--Different Poses 14 $ 1,777.50 12 1909-11 T206 White Borders Walter Johnson (Portrait) & Christy Mathewson (White Cap)--Both SGC Authentic 9 $ 444.38 13 1909-11 T206 White Borders Ty Cobb (Green Portrait) SGC 55 12 $ 3,555.00 14 1909-11 T205 & T206 Hall of Famers with Lajoie, Mathewson & McGraw--All SGC Graded 12 $ 503.63 15 (4) 1887 N284 Buchner Gold Coin SGC 60 Graded Singles 4 $ 770.25 16 (6) -
Christy Mathewson Was a Great Pitcher, a Great Competitor and a Great Soul
“Christy Mathewson was a great pitcher, a great competitor and a great soul. Both in spirit and in inspiration he was greater than his game. For he was something more than a great pitcher. He was The West Ranch High School Baseball and Theatre Programs one of those rare characters who appealed to millions through a in association with The Mathewson Foundation magnetic personality attached to clean honesty and undying loyalty present to a cause.” — Grantland Rice, sportswriter and friend “We need real heroes, heroes of the heart that we can emulate. Eddie Frierson We need the heroes in ourselves. I believe that is what this show you’ve come to see is all about. In Christy Mathewson’s words, in “Give your friends names they can live up to. Throw your BEST pitches in the ‘pinch.’ Be humble, and gentle, and kind.” Matty is a much-needed force today, and I believe we are lucky to have had him. I hope you will want to come back. I do. And I continue to reap the spirit of Christy Mathewson.” “MATTY” — Kerrigan Mahan, Director of “MATTY” “A lively visit with a fascinating man ... A perfect pitch! Pure virtuosity!” — Clive Barnes, NEW YORK POST “A magnificent trip back in time!” — Keith Olbermann, FOX SPORTS “You’ll be amazed at Matty, his contemporaries, and the dramatic baseball events of their time.” — Bob Costas, NBC SPORTS “One of the year’s ten best plays!” — NATIONAL PUBLIC RADIO “Catches the spirit of the times -- which includes, of course, the present -- with great spirit and theatricality!” -– Ira Berkow, NEW YORK TIMES “Remarkable! This show is as memorable as an exciting World Series game and it wakes up the echoes about why we love An Evening With Christy Mathewson baseball. -
2020 MLB Ump Media Guide
the 2020 Umpire media gUide Major League Baseball and its 30 Clubs remember longtime umpires Chuck Meriwether (left) and Eric Cooper (right), who both passed away last October. During his 23-year career, Meriwether umpired over 2,500 regular season games in addition to 49 Postseason games, including eight World Series contests, and two All-Star Games. Cooper worked over 2,800 regular season games during his 24-year career and was on the feld for 70 Postseason games, including seven Fall Classic games, and one Midsummer Classic. The 2020 Major League Baseball Umpire Guide was published by the MLB Communications Department. EditEd by: Michael Teevan and Donald Muller, MLB Communications. Editorial assistance provided by: Paul Koehler. Special thanks to the MLB Umpiring Department; the National Baseball Hall of Fame and Museum; and the late David Vincent of Retrosheet.org. Photo Credits: Getty Images Sport, MLB Photos via Getty Images Sport, and the National Baseball Hall of Fame and Museum. Copyright © 2020, the offiCe of the Commissioner of BaseBall 1 taBle of Contents MLB Executive Biographies ...................................................................................................... 3 Pronunciation Guide for Major League Umpires .................................................................. 8 MLB Umpire Observers ..........................................................................................................12 Umps Care Charities .................................................................................................................14 -
2019 Topps Series 1 Checklist
BASE VETERANS 1 Ronald Acuña Jr. Atlanta Braves™ Rookie Cup 2 Tyler Anderson Colorado Rockies™ 3 Eduardo Nunez Boston Red Sox® World Series Highlights 4 Dereck Rodriguez San Francisco Giants® Future Stars 5 Chase Anderson Milwaukee Brewers™ 6 Max Scherzer Washington Nationals® League Leaders 7 Gleyber Torres New York Yankees® Rookie Cup 8 Adam Jones Baltimore Orioles® 9 Ben Zobrist Chicago Cubs® 10 Clayton Kershaw Los Angeles Dodgers® 11 Mike Zunino Seattle Mariners™ 12 Crackin' Jokes Major League Baseball® 13 David Price Boston Red Sox® 14 The Yankees® Win! New York Yankees® 15 J.P. Crawford Philadelphia Phillies® 16 Charlie Blackmon Colorado Rockies™ 17 Caleb Joseph Baltimore Orioles® 18 Blake Parker Angels® 19 Jacob deGrom New York Mets® League Leaders 20 Jose Urena Miami Marlins® 21 Jean Segura Seattle Mariners™ 22 Adalberto Mondesi Kansas City Royals® 23 J.D. Martinez Boston Red Sox® League Leaders 24 Blake Snell Tampa Bay Rays™ League Leaders 25 Chad Green New York Yankees® 26 Angel Stadium™ Angels® 27 Mike Leake Seattle Mariners™ 28 Boston's Boys Boston Red Sox® 29 Eugenio Suarez Cincinnati Reds® 30 Josh Hader Milwaukee Brewers™ 31 Busch Stadium™ St. Louis Cardinals® 32 Carlos Correa Houston Astros® 33 Jacob Nix San Diego Padres™ Rookie 34 Josh Donaldson Cleveland Indians® 35 Joey Rickard Baltimore Orioles® 36 Paul Blackburn Oakland Athletics™ 37 Marcus Stroman Toronto Blue Jays® 38 Kolby Allard Atlanta Braves™ Rookie 39 Richard Urena Toronto Blue Jays® 40 Jon Lester Chicago Cubs® 41 Corey Seager Los Angeles Dodgers® 42 Edwin Encarnacion Cleveland Indians® 43 Nick Burdi Pittsburgh Pirates® Rookie 44 Jay Bruce New York Mets® 45 Nick Pivetta Philadelphia Phillies® 46 Jose Abreu Chicago White Sox® 47 Yankee Stadium™ New York Yankees® 48 PNC Park™ Pittsburgh Pirates® 49 Michael Kopech Chicago White Sox® Rookie 50 Mookie Betts Boston Red Sox® 51 Michael Brantley Cleveland Indians® 52 J.T. -
Cal Ripken Jr Baseball Cards Price Guide
Cal Ripken Jr Baseball Cards Price Guide Fazeel seduced her blues appropriately, she caparison it diametrally. Exploratory Ignatius corner doughtily or embark frothily when Lucius is spindle-shanked. Wizardly Worden starvings that cinerarium prescriptivists disputably and iterates overmuch. Fergie al austin jeff jeff jeff jeff frank thomas rookie cards, ripken jr baseball cal phil ralph edgar, from his cards graded unless it! Moderate to price guide says a cal ripken baseball cards prospecting is priced into the parents and rbis four of the. Harrick included in the guide will handle with side has biographical information of cal ripken jr baseball cards price guide credit card of design a card, but that athletic media packaging solutions for. Remember those two. Only baseball cal ripken jr baseball cards price guide to. Minor league most sought after all that ripken jr baseball cards, i get up. Then baseball cal ripken jr baseball cards price guide to baseball cal ripken jr, rather than others have been in. The baseball cal ripken jr, beat you sure you buy and sports reporter who is forever remember those two current players from sets, cal ripken jr baseball cards price guide to increase the shadows to. But it hit so heavily beloved by baseball cal ripken jr can be worth what drives prices guides became a price guide pricing has a pretty low. With a cal ripken card, cal ripken jr baseball cards price guide snes fast. So far as one of these sets. The heisman trophy, jr rookie bo went on the youth fan favorite hobby box mark mark albert albert jose canseco was not being said in baseball! Scp auctions on a price guide pricing. -
Chapter 2 (.Pdf)
Players' League-Chapter 2 7/19/2001 12:12 PM "A Structure To Last Forever":The Players' League And The Brotherhood War of 1890" © 1995,1998, 2001 Ethan Lewis.. All Rights Reserved. Chapter 1 | Chapter 2 | Chapter 3 | Chapter 4 | Chapter 5 | Chapter 6 | Chapter 7 "If They Could Only Get Over The Idea That They Owned Us"12 A look at sports pages during the past year reveals that the seemingly endless argument between the owners of major league baseball teams and their players is once more taking attention away from the game on the field. At the heart of the trouble between players and management is the fact that baseball, by fiat of antitrust exemption, is a http://www.empire.net/~lewisec/Players_League_web2.html Page 1 of 7 Players' League-Chapter 2 7/19/2001 12:12 PM monopolistic, monopsonistic cartel, whose leaders want to operate in the style of Gilded Age magnates.13 This desire is easily understood, when one considers that the business of major league baseball assumed its current structure in the 1880's--the heart of the robber baron era. Professional baseball as we know it today began with the formation of the National League of Professional Baseball Clubs in 1876. The National League (NL) was a departure from the professional organization which had existed previously: the National Association of Professional Base Ball Players. The main difference between the leagues can be discerned by their full titles; where the National Association considered itself to be by and for the players, the NL was a league of ball club owners, to whom the players were only employees. -
Major League Baseball in Nineteenth–Century St. Louis
Before They Were Cardinals: Major League Baseball in Nineteenth–Century St. Louis Jon David Cash University of Missouri Press Before They Were Cardinals SportsandAmerican CultureSeries BruceClayton,Editor Before They Were Cardinals Major League Baseball in Nineteenth-Century St. Louis Jon David Cash University of Missouri Press Columbia and London Copyright © 2002 by The Curators of the University of Missouri University of Missouri Press, Columbia, Missouri 65201 Printed and bound in the United States of America All rights reserved 54321 0605040302 Library of Congress Cataloging-in-Publication Data Cash, Jon David. Before they were cardinals : major league baseball in nineteenth-century St. Louis. p. cm.—(Sports and American culture series) Includes bibliographical references and index. ISBN 0-8262-1401-0 (alk. paper) 1. Baseball—Missouri—Saint Louis—History—19th century. I. Title: Major league baseball in nineteenth-century St. Louis. II. Title. III. Series. GV863.M82 S253 2002 796.357'09778'669034—dc21 2002024568 ⅜ϱ ™ This paper meets the requirements of the American National Standard for Permanence of Paper for Printed Library Materials, Z39.48, 1984. Designer: Jennifer Cropp Typesetter: Bookcomp, Inc. Printer and binder: Thomson-Shore, Inc. Typeface: Adobe Caslon This book is dedicated to my family and friends who helped to make it a reality This page intentionally left blank Contents Acknowledgments ix Prologue: Fall Festival xi Introduction: Take Me Out to the Nineteenth-Century Ball Game 1 Part I The Rise and Fall of Major League Baseball in St. Louis, 1875–1877 1. St. Louis versus Chicago 9 2. “Champions of the West” 26 3. The Collapse of the Original Brown Stockings 38 Part II The Resurrection of Major League Baseball in St. -
Honus Wagner 1909-11 T206 Card and His Personal Safe To
FOR IMMEDIATE RELEASE Terry Melia – 949-831-3700, [email protected] HONUS WAGNER 1909-11 T206 CARD AND HIS PERSONAL SAFE TO BE AUCTIONED AS PART OF SCP AUCTIONS’ ‘FALL PREMIER’ Auction of Wagner’s T206 Card and Safe Winds Down Saturday, Dec. 6 Laguna Niguel, Calif. (Dec. 3, 2014) – SCP Auctions’ “Fall Premier” online auction ends this Saturday, Dec. 6, at www.scpauctions.com. It features more than 1,150 lots including the coveted Chesapeake Honus Wagner 1909-11 T206 card and a small but highly significant group of Jackie Robinson related memorabilia including his spectacular Hillerich & Bradsby Model S100 ash bat, one of only two Robinson game-used bats that can be definitively documented as having been used during his 1949 MVP season. Also included is Wagner’s personal safe which was part of Wagner's estate collection received directly from the Wagner family's home in Carnegie, Pa. and sold by SCP Auctions in 2003 on behalf of Leslie Blair Wagner (Honus’s granddaughter). Can you imagine a more ideal place to store your prized T206 Honus Wagner card? For decades, Honus Wagner himself stored some his most important possessions in this floor safe. The safe, manufactured specially for Wagner by the F.L. Norton Safe Co. of Pittsburgh, Pa., dates from the turn-of-the-century. Its dimensions are 25" high by 16"wide by 17"deep and weighs about 250 pounds. Wagner's name "J.H. Wagner" is stenciled across to top in gold paint. A decorative border is stenciled around the perimeter of the door, which also bears the manufacturers markings below the dial. -
Isi&^ a Packet of Cigarettes, and Broke Into a Sunburst of Hill-Billy and It Was There That Profanity
16 Colliers for August 25, 1934 chase was made, and they probably would have done both only the snow Lefty s Left was up to their whiskers, the purchase having been announced in December. He is supposed to have cost young By Bill Cunningham owner Yawkey a cool $125,000 and to command a salary bank presidents don't get in these times, but that was some thing for Yawkey to discuss with his advisers if any. The Murphys, the Last year it was worth $125,- Kellys, the Cabots, Saltonstalls and 000. This year it's not worth Cohens merely skied their skimmers to much. It won't work. No the cold Back Bay moon and itched a body knows whether it will mighty itch for the good old summer ever work again. And a thou- time. But the great Robert Moses, as I say, sand fans plus a great pitcher was warming up on the rail. Jack Ons- are broken-hearted because w was doing the receiving. Some of a small twist in a tiny mus Okie or substitute might do for the cle in Lefty Grove's left arm hers, but here was the star. He rated least a coach as his back-stopper. Long—he's six feet three inches tall lean—you can see his ribs under the 'M NOT superstitious—well, not .ower, for all his 180 pounds, and very, anyhow—but any time I come ked saddle brown by the Sarasota to see you, don't start playing that n, he eased them out gradually for I Ravel's Bolero unless you want to me fifteen minutes and then he began see a strong man come down with tha cut loose. -
Prices Realized from June 10, 2005 Live Auction 1
Prices Realized from June 10, 2005 Live Auction 1 800 350.2273 Lot Lot Description Final Price 0001 1912 Fenway Park Grand Opening Day First Pitched Ball In First American League Game $132,000 0002 1910 World's Champion Pendant Given To Tom Connolly $6,600 0003 Group of Tom Connolly MLB Umpire Related Items Including Personal Rule Book, Ground Rules Cards, Letters and Schedules $6,000 0004 Connie Mack Autographed Baseball $7,200 0005 First Ball Pitched By President Woodrow Wilson, 1916 Opening Day Washington Senators, Signed and Dated $33,000 0006 Two Mixed Umpire Signed Baseballs Including 1920 World Series Umpires Connolly, Klem, Dinneen, O'Day, & Barlick, Reardon $3,900 0007 Baseball Commemorating First Sunday Major League Baseball Game Played In Washington, DC, May 19, 1918 $1,800 0008 Pair of Everett Scott Signed Baseballs From His 1000th and 1307th Consecutive Games $7,200 0009 1925 Washington Senators Team Signed Baseball, Including Walter Johnson $5,100 0010 General John J. Pershing Signed and Dated Opening Day ball, April 13, 1921, Griffith Stadium $3,300 0011 April 13, 1921 Calvin Coolidge Opening Day Signed Baseball, Griffith Stadium $39,000 0012 Babe Ruth and Lou Gehrig Signed Baseball With Original Box, Circa Late 1920's $42,000 0013 Group of Seventeen (17) Tom Connolly's World Series Press Pins, 1940-1953 $5,100 0014 Group of Ten (10) Tom Connolly's Press Pins $3,300 0015 1946 AL Pennant Winning Red Sox Team Signed Baseball $1,080 0016 Group Of Tom Connolly's Annual Passes To American League Games, 1932-1941, 1943-47, 1960-1963; -
LOT# TITLE BIDS SALE PRICE* 1 1909 E102 Anonymous Christy Mat(T)
Huggins and Scott's December 12, 2013 Auction Prices Realized SALE LOT# TITLE BIDS PRICE* 1 1909 E102 Anonymous Christy Mat(t)hewson PSA 6 17 $ 5,925.00 2 1909-11 T206 White Borders Ty Cobb (Bat Off Shoulder) with Piedmont Factory 42 Back—SGC 60 17 $ 5,628.75 3 Circa 1892 Krebs vs. Ft. Smith Team Cabinet (Joe McGinnity on Team) SGC 20 29 $ 2,607.00 4 1887 N690 Kalamazoo Bats Smiling Al Maul SGC 30 8 $ 1,540.50 5 1914 T222 Fatima Cigarettes Rube Marquard SGC 40 11 $ 711.00 6 1916 Tango Eggs Hal Chase PSA 7--None Better 9 $ 533.25 7 1887 Buchner Gold Coin Tim Keefe (Ball Out of Hand) SGC 30 4 $ 272.55 8 1905 Philadelphia Athletics Team Postcard SGC 50 8 $ 503.63 9 1909-16 PC758 Max Stein Postcards Buck Weaver SGC 40--Highest Graded 12 $ 651.75 10 1912 T202 Hassan Triple Folder Ty Cobb/Desperate Slide for Third PSA 3 11 $ 592.50 11 1913 T200 Fatima Team Card Cleveland Americans PSA 5 with Joe Jackson 9 $ 1,303.50 12 1913 T200 Fatima Team Card Brooklyn Nationals PSA 5 7 $ 385.13 13 1913 T200 Fatima Team Card St. Louis Nationals PSA 4 5 $ 474.00 14 1913 T200 Fatima Team Card Boston Americans PSA 3 2 $ 325.88 15 1913 T200 Fatima Team Card New York Nationals PSA 2.5 with Thorpe 5 $ 296.25 16 1913 T200 Fatima Team Card Pittsburgh Nationals PSA 2.5 13 $ 474.00 17 1913 T200 Fatima Team Card Detroit Americans PSA 2 16 $ 592.50 18 1913 T200 Fatima Team Card Boston Nationals PSA 1.5 7 $ 651.75 19 1913 T200 Fatima Team Cards of Philadelphia & Pittsburgh Nationals--Both PSA 6 $ 272.55 20 (4) 1913 T200 Fatima Team Cards--All PSA 2.5 to 3 11 $ 770.25