We usually try to avoid stepping on each others toes here at RotoGraphs. I’m going to risk a little phalanx* squashing to clarify a few of my opinions about something Jeff Z wrote yesterday. Jeff called for fantasy owners to focus on overall production when drafting their rosters. He’s absolutely right, especially in the current post-scarcity meta. Unfortunately, comments on his article – including from me – indicate that we may have distracted ourselves from the actual theme. So let’s reinforce a few important details.

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… they need Production. That’s it. If anyone says differently, they’re wrong. I’m tired of hearing owners say they want 35+ home runs from first base. It doesn’t matter where the production comes from. Owners don’t get extra points because the home run was from first base or from their shortstop. Home runs are just one category. Other hits, besides home runs, keep the AVG high and can also generate Runs, RBIs, and stolen base opportunities. Home runs don’t have monopoly on run scoring. Owners need to stop tying home runs (or any other stat) to a position and just pick the most productive players.

Today’s rant is being brought to everyone by my Twitter followers. Yesterday I asked them why Eric Hosmer was getting no love with his low NFBC ADP.

I have Eric Hosmer valued as the 28th or 32nd best hitter (z-score and SGP methods). His NFBC ADP is the 46th hitter off the board. Here are my theories for the difference. Which one do you believe is correct?

I have no idea.

— Jeff Zimmerman (@jeffwzimmerman) January 23, 2018

The big winner is power from first base. I’ve never gotten this philosophy of targeting a single stat, like stolen bases or home runs, from a set position. This is especially true early in a draft. In the first 100 picks or so, all the players are average or better. Accumulate as many of these above average talents as possible and then fill in the voids. If the team needs stolen bases, find them now later. Or batting average. Or heaven forbid, home runs.

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With the addition of NFBC ADP (average draft position) to our projection pages. I went and set our auction calculator settings for an NFBC roto team (14 Hitters, 9 pitchers). I just started going down the hitter rankings to find any major discrepancies. I didn’t make it off the first page. Here is an examination of why the values differ for three players.

Note: I’d prefer to use plate appearances to compare playing time but all the print publications use at-bats so I’m stuck using at-bats as a comparison.

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“… pros were more likely to ride a wave of irrational exuberance than to fight it. One reason is that it is risky to be a contrarian. ‘Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally’” – Richard Thaler in Misbehaving

At the root level, fantasy baseball is about acquiring more undervalued assists than your opponents. Everyone wants a first-round talent for a last round price (e.g. Aaron Judge). With teams clamoring to acquire every advantage, they are insistent on wasting away an early draft advantage. In early 2018 drafts I’ve participated in, an early emphasis on middle infielders is inflating their value way beyond their projected production. Is the observation wrong? If so why? If not, how can an owner take advantage of this mispricing?

Note: For this article, I will lump second basemen and shortstops together into one middle infield position. Neither position has more talent than the other and the bottom players will be used to fill a middle infield position.

For those who have recently created mixed-league valuations, positional scarcity doesn’t exist besides with catcher. I use the method outlined in Larry Schechter’s book, Winning Fantasy Baseball to determine my values. I’m not going to go into the process’s exact details but it’s the standard procedure used by fantasy experts to prep for auctions. Even a couple years ago a small amount of positional scarcity existed but a huge influx of good middle infielders has raised the group’s overall talent level up to the other positions.

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The projection systems love Miguel Cabrera. To them, he’s a hitter who performed decent in the first half and struggled in the second half. The projections don’t know that he has two herniated discs in his back. Because of the injury, his wOBA dropped from .339 in the first half to .274 in the 2nd half. Using projections, he’s the 54th highest ranked player but owners have pushed his ADP closer to 100th. It’s time to determine why the disconnect.

It was definitely a tale of two halves for Cabrera.

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In my last article, I examined the potential value differences between the top-50 rank players and their average draft position (ADP). Today, I will examine the next 50. While the first list contained quite a few players moving up, today’s list is a little more balanced with over and undervalued players.

One of the biggest takeaways from the first article was the extra replacement value catchers receive in a 2-catcher format. To simply explain the idea, I will turn to Joe Bryant who goes through a fitting example but with football.

The league’s bottom catchers are so bad so any catcher who can hit has good value. Evan Gattis being ranked #17 got most of the scrutiny in the rankings. As was pointed out, the projection may be high on the plate appearances but the process was still sound. Here is how Gattis compares to the last catcher ranked (Yan Gomes) and Francisco Lindor compared with the last middle infielder (Kolten Wong).

Yan Gomes is such a sink, especially with a total of 55 Runs+RBIs. It’s imperative to understand and value catchers correctly for each league formats. It’s a potentially huge advantage for those owners who spend the time. Read the rest of this entry »

“Long ago, Ben Graham taught me that ‘Price is what you pay; value is what you get.’ Whether we’re talking about socks or stocks,

… or fantasy baseball players

I like buying quality merchandise when it is marked down.” –Warren Buffett

Collecting as much value (talented players) from as little possible resources (draft picks or auction dollars) is the key to starting off a winning fantasy season. From now until each draft, owners should be trying to calculate player values and the possible range of outcomes. With these value ranges in mind, owners can use their draft resources to get the best deals. It’s time to start finding those deals.

To find the bargains, player values first need to be calculated. To create the values, I will use the average final standings from the 32 leagues in the 2017 NFBC Main Event (15 team, 5×5 roto with AVG).

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Breakouts and busts. If there was a set procedure for finding both, it would have been found years ago and incorporated into projections. For now, all we have is the overall chances of either happening. Over the past few weeks, I’ve been trying to put a simple value on these chances. I’ve completed the underperforming calculations and will now finish the overperforming metric. Additionally, I will compare both metrics to get an overall idea of the projection’s volatility.

In my last article, I found the breakout thresholds for plate appearances (222 PA) and wOBA (.040) and won’t change these values. Besides these two values, I determined who had both thresholds crossed and when both were partially achieved. The overperformance needed to increase near to the threshold values.

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A few days ago, Jake Leech asked me if Zack Cozart’s 2017 improved plate discipline would stick into 2018.

https://twitter.com/Stroke_19/status/931525718667943936

Cozart saw quite a bit of improvement with his K%-BB% dropping by 6% points.

Note: I like using K%-B% to get an overall value for a hitters plate discipline. Earlier this year, I investigated what early season stats point to a true breakout. K%-BB%, along with launch angle (FB%), were the two key factors to focus on.

The Steamer projection has his K%-BB% regressing closer to his 2016 values than the ones from 2017. This is how projections work with previous season stats having some weight along with some regression.

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A few weeks ago, I began the process of determining an underperformance metric. In the article, I laid out the groundwork determining the drop off in plate appearances (PA) and production (wOBA). With these thresholds, I created several metrics, each with its own advantages and disadvantages. I’m not setting the values into stone yet but I’m getting closer to a solution. I’ve found a few value I like better than others.

In the original article, I found fantasy owners considered a drop in 220 PA from 600 PA (37% drop) and of 0.035 wOBA from .350 wOBA (10%) to be the thresholds. I didn’t mess with these two values. Besides the pair, I wanted to know when both occurred. Additionally, from a discussion in the comments, I found when either PA or wOBA thresholds where met and when both dropped close to, but not over, the thresholds. This value (called Minor Drop) I found to provide the most overall value.

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