Oct. 27 (Bloomberg) -- Millionaire baseball players trying to win the World Series are talking about the stock market's plunge in between discussions about hitting breaking balls or stealing bases.

Philadelphia Phillies relief pitcher Brad Lidge said he's checked in with his financial adviser throughout the Major League Baseball playoffs as the Standard & Poor's 500 Index has dropped 25 percent in October. It's been a topic of conversation in the clubhouses of the Phillies and Tampa Bay Rays as players flip through newspapers and watch television.

``We are paying more attention now than we ever have,'' said Lidge, who has made almost $17 million in his seven-year career. ``Not so closely that it's going to distract us, but we are all aware that maybe we should be moving stuff into real estate right now.''

Players on both teams have plenty at stake in the financial markets, with 20 of the 50 players on the World Series teams making $1 million or more a season and the rest earning at least the major-league minimum of $390,000. The Phillies are one win away from their first World Series title in 28 years after their 10-2 rout of the Rays last night in Philadelphia and can clinch the title tonight.

Lidge, who majored in economics and marketing at the University of Notre Dame in South Bend, Indiana, is cutting back his allocation to stocks and considering adding to his real estate holdings. Declining demand has made homes cheaper and more appealing, he said.

Housing Drop

Home prices in 20 U.S. cities declined at the fastest pace on record in July, the latest month for which S&P/Case-Shiller data are available. The group's home-price index fell 16.3 percent from July 2007 and has dropped every month since 2007.

The 31-year-old pitcher, who had 41 saves this season for the Phillies, also has investments in commodities, Fidelity Investments mutual funds, and with a friend who runs a hedge fund.

``You take a hit but you have to ride the storm because eventually it's going to bounce back,'' Lidge said in the clubhouse in Philadelphia on Oct. 25. ``If you take it out, you won't be there for the gains, only for the losses.''

Lidge can swap investment ideas with 30-year-old teammates Eric Bruntlett, who has an economics degree from Stanford University in Palo Alto, California, and Greg Dobbs, who's taking business classes in the offseason.

Bruntlett, a backup infielder, said that while he isn't as tuned into the economy as he used to be, it doesn't stop teammates from asking him for advice.

`Make It Up'

``They assume I know what I am talking about,'' said Bruntlett, who has earned about $1.6 million in his six-year career. ``Half the time I will make something up and they will tend to believe it.''

Tampa Bay manager Joe Maddon, 54, majored in economics at Lafayette College in Easton, Pennsylvania, and has posted quotes from former Federal Reserve Chairman Alan Greenspan around the Rays clubhouse. His players, whether it's 10-year veteran pitcher Trever Miller or second-year pitcher James Shields, tend to take a conservative approach to investing.

Miller, 35, puts money in a life-insurance policy, a trust fund for his 4-year-old daughter, Grace, and invests a maximum $44,000 a year in mutual funds for retirement through a Vanguard Group Inc. plan with the Major League Baseball Players Association. Players can put pre- and post-tax money into the account and team owners contribute up to about $20,000 a year depending on the player's service time.

Less Volatile

Shields, 27, who in January signed a contract that could be worth as much as $44 million over seven years, said he's keeping his money in certificates of deposit until the market becomes less volatile.

On the first day of the World Series on Oct. 22, the S&P 500 dropped 6.1 percent to its lowest level since 2003. Two days later, the index fell as much as 6.1 percent following a global selloff before finishing the session down 3.5 percent.

``We are trying to be as patient as possible before making some moves,'' said Shields, who earned the victory in Game 2 of the World Series. ``There's no doubt in the real estate and the stock market that of course it's the good time to buy.''

Lidge is considering giving his friend more money to put in a hedge fund that's focusing on Europe. He'll do his research after the World Series ends because he doesn't want to be too aggressive.

``We don't want to do the high-risk thing,'' Lidge said. ``It doesn't make any sense. We already have the high reward, it doesn't make sense to roll the dice.''

To contact the reporter on this story: Danielle Sessa at Citizens Bank Park in Philadelphia at dsessa@bloomberg.net

Last Updated: October 27, 2008 12:13 EDT