Most readers of this blog are familiar with Socrates' declaration that "the unexamined life is not worth living." What fewer people will know is that Socrates was speaking less in a general sense about life and more about fantasy baseball, specifically.
Yes, this is a fact. No, you shouldn't look it up.
In any case, it's true: beyond understanding the externals of the fantasy game, like league parameters, opponents' tendencies and bargains, it's important to consider matters internal, as well − that is, our own tendencies and biases as fantasy owners.
There are any number of questions an owner can ask oneself so as to reach a better sense of his or her fantasy strengths and weakness. Here are three examinations to get the reader started.
Examination: Are there players who appear on multiple teams for you? None at all, ever? If so, why?
It is, of course, not a bad thing in and of itself to have drafted the same player(s) for multiple teams. The real question to ask is why.
For example, having participated in four or five drafts now in leagues with varying formats, I find that I've taken Edinson Volquez in every one of them. Same goes for Josh Beckett and Jordan Zimmermann, in those instances when they haven't been retained by other owners in keeper formats. In each case, these are pitchers I've identified as having great potential for success in 2011 relative to how opposing fantasy owners are valuing them. Volquez and Zimmermann both posted excellent peripheral numbers (strikeout, walk and ground-ball rates) after returning from injury last season. Beckett's 5.78 earned run average in 127 2/3 innings last season belied peripherals that would have typically generated an E.R.A. of about 4.00.
On the other hand, if there are players you would never, ever, never, ever take, that also deserves attention. If it's Jason Marquis, that's one thing − on account of Marquis isn't particularly great, I mean. But if you avoid Alex Rodriguez because you find him personally objectionable (say, you are a Red Sox fan) , then you're seriously limiting the available player pool.
Examination: Do you draft straight from a sheet? Do you use a tier system of some kind? Do you go by "feel"?
People play fantasy baseball for any number of reasons. Sometimes it's to stay in touch with friends who live scattered over the country. Sometimes it's to heap all manner of invective on those same friends. Sometimes it's to make work go by faster.
If you're really trying to win your league, however, it's important to know thyself with regard to draft strategy. We can say, broadly, that a draft occurs in two phases: first, the preparation, and second, the draft itself. While the first of these can be carried out in leisurely fashion, drafts are generally timed and so require flexibility and quickness of thought. Accordingly, some dependable method for adjusting to the constantly changing market that is a league's available player pool is required.
How best to do this? Far be it from me to be prescriptive about such a thing. "Trial and error" is probably the best answer; however, as I say, for best value, it's important to adjust to the market that your league owners are creating spontaneously. Are players going for more than you had thought at the beginning of an auction? Hang back and wait to grab some deals. Is there a big gap between the best third baseman and the next one on the list? Pick him up.
Examination: How are your waiver-wire skills? How are they relative to your drafting skills? Your trading skills?
There are three basic ways to acquire talent in fantasy − via the draft, via trade, or via the waiver wire. (The fourth type, via spaceship, is generally only available in the most expensive of leagues). It's important to evaluate how well you perform in each circumstance.
For example, historically, I've been prone to drafting players like Volquez and Zimmermann and Beckett too early in the draft, thus conceding any value they would have otherwise had. Recognizing that tendency, though, has helped me adjust accordingly and extract from such players the value they offer.
Waiver-wire adds are almost entirely a function of effort. If you play in a single league and care about it deeply, chances are you're on sites like RotoWire, constantly updating player notes, waiting for an announcement about an injury to Closer X so as to pick up the Setup Man Y who'll replace him. If you're not willing to put in the effort, chances are you'll suffer in this category.
Finally, there's trading. Trading's unique, of course, because it requires not only a knowledge of player value but also of a trading partner. Sometimes that's a simple thing. Maybe your friend's a big Royals fan and is willing to give you Albert Pujols in exchange for Jeff Francoeur. Frequently, things don't work so tidily. Frequently, we must understand the psychology of our trading partners − and, frequently, if your friends are like mine, this is a frightening prospect.