Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
Macmillan, 01.06.2010 - 400 Seiten
In 1956 two Bell Labs scientists discovered the scientific formula for getting rich. One was mathematician Claude Shannon, neurotic father of our digital age, whose genius is ranked with Einstein's. The other was John L. Kelly Jr., a Texas-born, gun-toting physicist. Together they applied the science of information theory--the basis of computers and the Internet--to the problem of making as much money as possible, as fast as possible.
Shannon and MIT mathematician Edward O. Thorp took the "Kelly formula" to Las Vegas. It worked. They realized that there was even more money to be made in the stock market. Thorp used the Kelly system with his phenomenonally successful hedge fund, Princeton-Newport Partners. Shannon became a successful investor, too, topping even Warren Buffett's rate of return. Fortune's Formula traces how the Kelly formula sparked controversy even as it made fortunes at racetracks, casinos, and trading desks. It reveals the dark side of this alluring scheme, which is founded on exploiting an insider's edge.
Shannon believed it was possible for a smart investor to beat the market--and Fortune's Formula will convince you that he was right.
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Bewertungen von Nutzern
Review: Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall StreetNutzerbericht - Xulferdica - Goodreads
Fascinating and educational. Essential read for the professional risk taker! Vollständige Rezension lesen
Review: Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall StreetNutzerbericht - Jon Stefenson - Goodreads
Interesting angle - as a blackjack player, am familiar with the Kelly Criterion. Makes sense. Wondered how LTC debacle fit the message, but worked in made sense. Comes together well. Vollständige Rezension lesen
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