Fortunes Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
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Fortunes Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
$23.44
Sale price
$23.44
Regular price
$25.78
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Description
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 Einsteins. The other was John L. Kelly Jr., a Texasborn, guntoting physicist. Together they applied the science of information theorythe basis of computers and the Internetto 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 phenomenally successful hedge fund, PrincetonNewport Partners. Shannon became a successful investor, too, topping even Warren Buffetts rate of return. Fortunes 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 insiders edge.Shannon believed it was possible for a smart investor to beat the marketand William Poundstones Fortunes Formula will convince you that he was right.
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This book is sold in used condition unless explicitly stated as new.
Condition is graded and described accurately. Some books may contain
previous owner's markings, highlights, or inscriptions. This product
may contain chemicals known to the State of California to cause cancer
or reproductive harm. For more information visit
www.P65Warnings.ca.gov
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