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Title   Fortunes Formula The Untold Story of the Scientific Betting System That Beat the Casinos & Wall Street 

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Author   POUNDSTONE W  ISBN   9780809045990  Add to shopping cart   
Publisher   Hill & Wang Inc, Usa  Group   Commerce/Law View shopping cart
Binding   Paperback Category   Invst & Prop  Terms and conditions
Edition   1 Type   Go back
Publication Year   2006 
Subject   Gambling: theories & methods 
Stock Status   Not currently in stock - contact store for availability 
Order Status   Not currently on order 
Synopsis 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 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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