This is clearly wrong. We have a lot of information - far more than would typically be available with respect to the management of a company (even an issuer with additional SEC disclosure requirements). MLB's composition allows for clubs to be compared directly in a way that companies cannot be, without significant analytical adjustments. Clubs all have the same basic structure. Their approach to making money can vary by market, but their baseball objectives are essentially the same- to win. Clubs go through 'rebuilding' phases and what not, but even then the club's ultimate purpose is to contend for the championship. MLB is a closed system with a relatively small number of variables. Moreover, the structure of the system is public information and easy to understand. There is no real mystery about how the 40-man roster system works or how waivers are processed. The results are also easy to analyze- wins and losses, of course, but player-level performance is much easier to gauge than is often the case with respect to employees in a professional setting. The "we don't know" cop out is just a defense of the front office built on false assumptions. We absolutely have enough information, for instance, to say that it was a mistake for Bartlett to make the 25-man roster out of Spring Training. We can see that most every, or every other club has better high-minors OF depth, and thus we can say that the Twins failed to provide adequate depth. The list of course goes on.