You go into the draft deliberately ignoring all players who possess one particular element of skill. In a 4x4 league, SBs are a puntable category. Wins are probably the easiest category to punt in any type of league. Some stat categories do not lend themselves to this strategy. HR and RBIs are highly interrelated; punting one normally affects the other. SB and Runs, ERA and WHIP, and to an extent AVG and RBI, are also category pairs that may be difficult to punt singularly. To determine the best category to punt, consider the one that will be the most expensive to win in your particular league.
What you potentially gain: For starters, this frees you up to focus your efforts on fewer variables. It usually takes about half the draft for the other owners to realize what you're doing. By that time, it may be too late for them to adjust their dollar values for the punted category, downgrading the bidding for those players. A deeper talent pool for that stat category means each individual player who possesses that skill is now worth less. With an excess of dollars already likely having been chasing that category, you can end up with more available dollars to maximize the other categories.
Conditions necessary for success: You must be able to maximize your investments in the other categories.
Risks: Being found out early on in a draft could mean that you will get bid up on the other categories you need to maximize.
Result: High probability of success if the correct category is selected and the other categories are maximized.
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