Fortune”s Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
21 x 14 cm
Hill & Wang
Brand new, unused
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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 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 “Fortune’s Formula “will convince you that he was right.
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