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

12.99

Delivery on 02, March 2024

Description

Cost: $12.99
(as of May 08,2023 15:53:32 UTC – Details)

In 1956 two Bell Labs researchers found the scientific method for getting loaded. Just one was mathematician Claude Shannon, neurotic father of our electronic age, whose genius is rated with Einstein’s. The other was John L. Kelly Jr., a Texas-born, gun-toting physicist. With each other they applied the science of facts theory―the foundation of pcs and the Internet―to the challenge of creating as much revenue as attainable, as rapidly as attainable.

Shannon and MIT mathematician Edward O. Thorp took the “Kelly system” to Las Vegas. It labored. They understood that there was even much more cash to be made in the inventory marketplace. Thorp employed the Kelly program with his phenomenally thriving hedge fund, Princeton-Newport Companions. Shannon became a effective trader, way too, topping even Warren Buffett’s charge of return. Fortune’s System traces how the Kelly formula sparked controversy even as it designed fortunes at racetracks, casinos, and investing desks. It reveals the dark facet of this alluring scheme, which is founded on exploiting an insider’s edge.

Shannon believed it was feasible for a wise trader to defeat the market―and William Poundstone’s Fortune’s System will encourage you that he was correct.

ASIN ‏ : ‎ 0809045990
Publisher ‏ : ‎ Hill and Wang Very first Edition (September 19, 2006)
Language ‏ : ‎ English
Paperback ‏ : ‎ 386 web pages
ISBN-10 ‏ : ‎ 9780809045990
ISBN-13 ‏ : ‎ 978-0809045990
Item Fat ‏ : ‎ 12 ounces
Proportions ‏ : ‎ 5.4 x 1.2 x 8.2 inches



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