Poundstone, William
Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
- ISBN 13:
- 9780809045990
- author:
- Poundstone, William
- format:
- Paperback
- publisher:
- Hill & Wang
- language:
- English
- Publication Year:
- 2006
- Pages:
- 400
- Dimensions:
- 20.98 x 13.92 x 2.77 centimetres
- Genre:
- Games / Gamebooks / Crosswords
- Condition:
- New
- Availability:
- Item usually sent within 20 working days
Description
The Scientific Formula for Getting Rich In 1956, two scientists, Claude Shannon and John L. Kelly Jr., discovered a mathematical formula that could help people make as much money as possible, as fast as possible. They applied this formula to the problem of making money in Las Vegas and the stock market. The results were astonishing, with some investors earning significantly more than others. The Kelly formula was later used by a mathematician, Edward O. Thorp, to create a successful hedge fund. Shannon himself became a successful investor, outperforming even Warren Buffett's rate of return. However, the use of this formula also sparked controversy, as it relies on exploiting an insider's edge. This book, Fortune's Formula, tells the story of how the Kelly formula made fortunes in various fields, while also revealing its dark side. It explores the idea that a smart investor can beat the market, and whether this is truly possible.
Related Products
Related Products
European Fans: The Untold Story (Eurus Collection: Untold Stories)
Eunkyung, Hahn Eura
Skuzapo: The untold story
Crayton, Carina
To The Limit: The Untold Story Of The Eagles
Eliot, Marc
Alice in Chains: The Untold Story
Sola, David De
Beating the Street
Lynch, Peter