Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street - William Poundstone - Böcker - Farrar, Straus and Giroux - 9780809045990 - 19 september 2006
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Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street 1st edition

William Poundstone

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Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street 1st edition

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 controversyeven as it made fortunes at racetracks, casinos, and tradingdesks. It reveals the dark side of this alluring scheme, which isfounded on exploiting an insider's edge.

Shannon believed it was possible for a smart investor to beatthe market--and Fortune's Formula will convince you that he was right.


400 pages

Media Böcker     Pocketbok   (Bok med mjukt omslag och limmad rygg)
Releasedatum 19 september 2006
ISBN13 9780809045990
Utgivare Farrar, Straus and Giroux
Antal sidor 408
Mått 208 × 139 × 31 mm   ·   340 g
Språk Engelska  

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