Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street

Frontcover
Macmillan, 01.06.2010 - 400 Seiten
30 Rezensionen
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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Fascinating and educational. - Goodreads
IMHO the best popular mathematical writing ever. - Goodreads
Poundstone's prose is workmanlike at best. - Goodreads

Review: Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street

Nutzerbericht  - Richard - Goodreads

I didn't like this book at first, due to its more simplistic writing style. (May be because I just read World Order - Kissinger, books sounds like reading to a 2-year old) As I read further I realized ... Vollständige Rezension lesen

Review: Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street

Nutzerbericht  - Billy - Goodreads

A fascinating read that ropes in blackjack, horse racing, the Mafia, information theory and mathematics, all in the quest to find a way to beat the house, be it the casino or stock market. Poundstone ... Vollständige Rezension lesen

Inhalt

ENTROPY
13
BLACKJACK
79
ARBITRAGE
115
ST PETERSBURG WAGER
179
RICO
239
BLOWING UP
275
SIGNAL AND NOISE
305
Notes
331
Bibliography
357
Acknowledgments
369
Index
371
Urheberrecht

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Über den Autor (2010)

William Poundstone is the bestselling author of nine nonfiction books, including Labyrinths of Reason and The Recursive Universe.

Bibliografische Informationen