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A Man for All Markets : From Las Vegas to Wall Street, How I Beat the Dealer and the Market
by Edward O. Thorp and Nassim Nicholas Taleb


Overview - The incredible true story of the card-counting mathematics professor who taught the world how to beat the dealer and, as the first of the great quantitative investors, ushered in a revolution on Wall Street.
A child of the Great Depression, legendary mathematician Edward O.
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More About A Man for All Markets by Edward O. Thorp; Nassim Nicholas Taleb
 
 
 
Overview
The incredible true story of the card-counting mathematics professor who taught the world how to beat the dealer and, as the first of the great quantitative investors, ushered in a revolution on Wall Street.
A child of the Great Depression, legendary mathematician Edward O. Thorp invented card counting, proving the seemingly impossible: that you could beat the dealer at the blackjack table. As a result he launched a gambling renaissance. His remarkable success--and mathematically unassailable method--caused such an uproar that casinos altered the rules of the game to thwart him and the legions he inspired. They barred him from their premises, even put his life in jeopardy. Nonetheless, gambling was forever changed.
Thereafter, Thorp shifted his sights to -the biggest casino in the world- Wall Street. Devising and then deploying mathematical formulas to beat the market, Thorp ushered in the era of quantitative finance we live in today. Along the way, the so-called godfather of the quants played bridge with Warren Buffett, crossed swords with a young Rudy Giuliani, detected the Bernie Madoff scheme, and, to beat the game of roulette, invented, with Claude Shannon, the world's first wearable computer.
Here, for the first time, Thorp tells the story of what he did, how he did it, his passions and motivations, and the curiosity that has always driven him to disregard conventional wisdom and devise game-changing solutions to seemingly insoluble problems. An intellectual thrill ride, replete with practical wisdom that can guide us all in uncertain financial waters, A Man for All Markets is an instant classic--a book that challenges its readers to think logically about a seemingly irrational world.
Praise for A Man for All Markets
-In A Man for All Markets, Thorp] delightfully recounts his progress (if that is the word) from college teacher to gambler to hedge-fund manager. Along the way we learn important lessons about the functioning of markets and the logic of investment.---The Wall Street Journal
- Thorp] gives a biological summation (think Richard Feynman's Surely You're Joking, Mr. Feynman ) of his quest to prove the aphorism 'the house always wins' is flawed. . . . Illuminating for the mathematically inclined, and cautionary for would-be gamblers and day traders---
Library Journal
-Thorp's in-the-trenches account of gaming the system(s) is a pleasure--and instructive, too.---Kirkus Reviews
-An amazing book by a true icon . . . Edward O. Thorp launched revolutions in Vegas and on Wall Street by turning math into magic, and here he weaves his own life lessons into a page-turner as hot as a deck full of aces. Loved it ---Ben Mezrich, New York Times bestselling author of Bringing Down the House and The Accidental Billionaires
-Whether you are an aspiring professional player, a casual gambler, or an occasional visitor to Las Vegas, you can feel the impact of Edward O. Thorp's intellect on that desert city.---Nicholas G. Colon, professional advantage gambler and managing director, Alea Consulting Group
-This book is in part the gripping story of how one man's genius and dedication has solved so many problems in diverse fields. But more important, it's a fascinating insight into the thought processes of someone with little interest in fame, who has mostly stayed under the radar, yet who has followed his inquisitive mind wherever it has led him, and reaped the resulting rewards.---Paul Wilmott, founder, Wilmott magazine

 
Details
  • ISBN-13: 9781400067961
  • ISBN-10: 1400067960
  • Publisher: Random House
  • Publish Date: January 2017
  • Page Count: 416
  • Dimensions: 9.3 x 6.2 x 1.6 inches
  • Shipping Weight: 1.46 pounds


Related Categories

Books > Biography & Autobiography > Business
Books > Business & Economics > Investments & Securities - Analysis & Trading Strategies
Books > Games > Gambling - General (see also SELF-HELP - Compulsive Behavior

 
Publishers Weekly Reviews

Publishers Weekly® Reviews

  • Reviewed in: Publishers Weekly, page .
  • Review Date: 2016-10-31
  • Reviewer: Staff

Thorp (Beat the Dealer), a mathematician, college professor, and millionaire hedge-fund manager, is perhaps best known as the inventor of a card-counting technique and primitive wearable computer that helped him win at the gambling tables in Las Vegas and flummox casino owners in the 1960s. His latest book, part memoir and part how-to investment guide, mashes up several narratives that dont quite work together. The book is most engaging when Thorp uses his conversational style and penchant for evocative details to recount his life story, which begins with his childhood and precocious command of numbers in the 1940s and then his years as an impoverished college student in California. Along the way, Thorp complains about state laws that prohibited his gambling tactics, detects Bernie Madoffs Ponzi scheme decades before its unmasking, rails against high-frequency stock market trading, and distances himself from legal troubles in his own hedge fund operations. The book is less successful when Thorp digresses into technical explanations of quantitative investment strategies, tutorials on basic accounting principles, and investment advice. In the end, Thorp seems to run out of original ideas, though his stated objectiveto make readers think differently about gambling, investments, risk, money management, wealth-building, and lifeis largely achieved. (Jan.)

 
BAM Customer Reviews