Fortune's Formula
  • Author : William Poundstone
  • Release Date : 01 June 2010
  • Publisher : Hill and Wang
  • Genre : Business & Economics
  • Pages : 400
  • ISBN 13 : 0374707081
  • Total Download : 639
  • File Size : 51,6 Mb
Ratings: 4
From 4 Voters

Fortune's Formula PDF Summary

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 phenomenally 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 William Poundstone's Fortune's Formula will convince you that he was right.

The Money Formula

The Money Formula

Author : Paul Wilmott,David Orrell
Publisher : John Wiley & Sons
Total Download : 754
File Size : 43,9 Mb
Total Competition

Total Competition

Author : Ross Brawn,Adam Parr
Publisher : Simon and Schuster
Total Download : 931
File Size : 45,6 Mb


Author : William Poundstone
Publisher : Hill and Wang
Total Download : 786
File Size : 45,9 Mb