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Fortune's Formula:

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

Nutzerbericht  - Paul - Goodreads

IMHO the best popular mathematical writing ever. Poundstone deftly sketches Claude Shannon, John Kelly, Ed Thorp, Longy Zwillman, Bugsy Siegel, J. Edgar Hoover, and other unlikely characters in ... Vollständige Rezension lesen

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

Nutzerbericht  - Jason Morley - Goodreads

Fantastic book, a must read for those only slightly interested in statistics and similar, given that it makes the subjects listed in the book more interesting than I have seen them elsewhere. A cool ... Vollständige Rezension lesen

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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.

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