How Washington Destroyed Value by Trading for Alex Smith: a Lesson in Opportunity Costs
Alex Smith. Now that the dust has settled a on the trade that has assuredly dominated sports talk radio in DC the last week, I’ve had time to gather my thoughts on the deal that went down. Friends and family know I’m one of the most optimistic fans you’ll meet. This is not one of those moments. I think Washington waaaaaay overpaid for Smith. Below is a detailed explanation of why. As far as face value is concerned, the trade looks simple: Washington receives Alex Smith in exchange for Kendall Fuller and a 2018 3rd round pick. Reasonable price for a competent starting QB, albeit an older one who probably isn’t going to light the league on fire anytime soon. At least the price looks reasonable on the surface. When you look at the trade at the end of the day, all you care about is whether your roster has holistically been strengthened (both immediately and over a targeted period of time in which you aim to “contend” for a title). This is analogous to an investor evaluating a security ...