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A Man for All Markets

A Man for All Markets Author Edward O. Thorp
ISBN-10 1786070286
Release 2017-02
Pages 416
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A Man for All Markets has been writing in one form or another for most of life. You can find so many inspiration from A Man for All Markets also informative, and entertaining. Click DOWNLOAD or Read Online button to get full A Man for All Markets book for free.



A Man for All Markets

A Man for All Markets Author Edward O Thorp
ISBN-10 9781786070296
Release 2017-02-02
Pages 400
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Mathematics professor. Professional gambler. Tech inventor. Hedge fund heavyweight. Bestselling author. One of a kind. Edward O Thorp worked his way up from nothing to become a professor at MIT. Using one of their early computers for his calculations, he invented card counting, making huge winnings at blackjack, roulette and baccarat in Las Vegas and brushing shoulders with mobsters along the way. Thorp then went on to Wall Street, where he began a hugely successful career in the stock market, attracting the attention of global investors such as Warren Buffett. He used statistical techniques to find and exploit pricing anomalies in the securities markets and built a significant fortune, earning him the nickname 'The Godfather of Quants'. For the first time, Thorp shares his incredible life story, explaining how he made his money and giving advice to the next generation of investors.



Fortune s Formula

Fortune s Formula Author William Poundstone
ISBN-10 0374707081
Release 2010-06-01
Pages 400
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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.



Man for All Markets

Man for All Markets Author Edward O. Thorp
ISBN-10 OCLC:1024276378
Release 2017
Pages 346
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Mathematics professor. Professional gambler. Tech inventor. Hedge fund heavyweight. Bestselling author. One of a kind. Edward O Thorp worked his way up from nothing to become a professor at MIT. Using one of their early computers for his calculations, he invented card counting, making huge winnings at blackjack, roulette and baccarat in Las Vegas and brushing shoulders with mobsters along the way. Thorp then went on to Wall Street, where he began a hugely successful career in the stock market, attracting the attention of global investors such as Warren Buffett. He used statistical techniques to.



The Kelly Capital Growth Investment Criterion

The Kelly Capital Growth Investment Criterion Author Leonard C. MacLean
ISBN-10 9789814293495
Release 2011
Pages 853
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This volume provides the definitive treatment of fortune's formula or the Kelly capital growth criterion as it is often called. The strategy is to maximize long run wealth of the investor by maximizing the period by period expected utility of wealth with a logarithmic utility function. Mathematical theorems show that only the log utility function maximizes asymptotic long run wealth and minimizes the expected time to arbitrary large goals. In general, the strategy is risky in the short term but as the number of bets increase, the Kelly bettor's wealth tends to be much larger than those with essentially different strategies. So most of the time, the Kelly bettor will have much more wealth than these other bettors but the Kelly strategy can lead to considerable losses a small percent of the time. There are ways to reduce this risk at the cost of lower expected final wealth using fractional Kelly strategies that blend the Kelly suggested wager with cash. The various classic reprinted papers and the new ones written specifically for this volume cover various aspects of the theory and practice of dynamic investing. Good and bad properties are discussed, as are fixed-mix and volatility induced growth strategies. The relationships with utility theory and the use of these ideas by great investors are featured.



The Poker Face of Wall Street

The Poker Face of Wall Street Author Aaron Brown
ISBN-10 9781118161104
Release 2011-08-26
Pages 368
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Wall Street is where poker and modern finance?and the theory behind these "games"?clash head on. In both worlds, real risk means real money is made or lost in a heart beat, and neither camp is always rational with the risk it takes. As a result, business and financial professionals who want to use poker insights to improve their job performance will find this entertaining book a "must read." So will poker players searching for an edge in applying the insights of risk-takers on Wall Street.



Beat the Dealer

Beat the Dealer Author Edward O. Thorp
ISBN-10 UVA:X004290084
Release 1966
Pages 220
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A professor of mathematics provides a tested strategy for winning Blackjack which takes into consideration the recent revised point count system of the Nevada casinos



Beat the market

Beat the market Author Edward O. Thorp
ISBN-10 STANFORD:20501241752
Release 1967
Pages 221
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Beat the market has been writing in one form or another for most of life. You can find so many inspiration from Beat the market also informative, and entertaining. Click DOWNLOAD or Read Online button to get full Beat the market book for free.



Black Edge

Black Edge Author Sheelah Kolhatkar
ISBN-10 9780812995817
Release 2017-02-07
Pages 368
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NEW YORK TIMES BESTSELLER • “An essential exposé of our times—a work that reveals the deep rot in our financial system . . . Everyone should read this book.”—David Grann, author of Killers of the Flower Moon ONE OF THE BEST BOOKS OF THE YEAR—The New York Times and The Economist • Finalist for the New York Public Library’s Helen Bernstein Book Award for Excellence in Journalism The hedge fund industry changed Wall Street. Its pioneers didn’t lay railroads, build factories, or invent new technologies. Rather, they made their billions through financial speculation, by placing bets in the market that turned out to be right more often than not. In hedge fund circles, Steven A. Cohen was revered as one of the greatest traders who ever lived. But that image was shattered when his fund, SAC Capital, became the target of a seven-year government investigation. Prosecutors labeled SAC a “magnet for market cheaters” whose culture encouraged the relentless pursuit of “edge”—and even “black edge,” which is inside information—and the firm was ultimately indicted and pleaded guilty to charges related to a vast insider trading scheme. Cohen, himself, however, was never charged. Black Edge is a riveting legal thriller that raises urgent questions about the power and wealth of those who sit at the pinnacle of high finance and how they have reshaped the economy. Longlisted for the Andrew Carnegie Medal for Excellence in Nonfiction and the Financial Times and McKinsey Business Book of the Year Award “A modern version of Moby-Dick, with wiretaps rather than harpoons.”—Jennifer Senior, The New York Times “If you liked James B. Stewart’s Den of Thieves, Sheelah Kolhatkar’s thrilling Black Edge should be next on your reading list.”—The Wall Street Journal “Excellent.”—The Economist “A true-life thriller with Shakespearian stakes . . . Her chilling account of a blighted industry is as mesmerizing as a human story as it is as a financial one.”—Fortune “A tour de force of groundbreaking reporting and brilliant storytelling.”—Jeffrey Toobin, New York Times bestselling author of American Heiress



Trading Bases

Trading Bases Author Joe Peta
ISBN-10 9781101609651
Release 2013-03-07
Pages 384
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An ex–Wall Street trader improved on Moneyball’s famed sabermetrics and beat the Vegas odds with his own betting methods. Here is the story of how Joe Peta turned fantasy baseball into a dream come true. Joe Peta turned his back on his Wall Street trading career to pursue an ingenious—and incredibly risky—dream. He would apply his risk-analysis skills to Major League Baseball, and treat the sport like the S&P 500. In Trading Bases, Peta takes us on his journey from the ballpark in San Francisco to the trading floors and baseball bars of New York and the sportsbooks of Las Vegas, telling the story of how he created a baseball “hedge fund” with an astounding 41 percent return in his first year. And he explains the unique methods he developed. Along the way, Peta provides insight into the Wall Street crisis he managed to escape: the fragility of the midnineties investment model; the disgraced former CEO of Lehman Brothers, who recruited Peta; and the high-adrenaline atmosphere where million-dollar sports-betting pools were common.



Red Blooded Risk

Red Blooded Risk Author Aaron Brown
ISBN-10 9781118043868
Release 2011-10-11
Pages 415
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From 1987 to 1992, a small group of Wall Street quants invented an entirely new way of managing risk to maximize success: risk management for risk-takers. This text examines this approach and offers valuable advice for the calculated risk-takers who need precise quantitative guidance that will help separate them from the rest of the pack.



Conquering Risk

Conquering Risk Author Elihu D. Feustel
ISBN-10 9781450723008
Release 2010
Pages 280
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Conquering Risk has been writing in one form or another for most of life. You can find so many inspiration from Conquering Risk also informative, and entertaining. Click DOWNLOAD or Read Online button to get full Conquering Risk book for free.



Life in the Financial Markets

Life in the Financial Markets Author Daniel Lacalle
ISBN-10 9781118914878
Release 2015-01-12
Pages 312
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"Gives an expert's perspective on the debt markets, monetary policies, and quantitative easing, and helps explain the various issues surrounding sovereign debt, the Euro crisis, and austerity versus growth policies. Comprehensive in scope, this resource also offers an analysis of investment styles, from hedge funds to "long only" investments, as well as an in-depth look at corporate communication and its impact on markets and investments"--



Big Money Thinks Small

Big Money Thinks Small Author Joel Tillinghast
ISBN-10 9780231544696
Release 2017-08-15
Pages 320
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Investors are tempted daily with misinformation. They make lucky bets that breed false confidence, and their high-stakes gambles can take an emotional toll. How can anyone stay focused in such a volatile profession? In Big Money Thinks Small, veteran fund manager Joel Tillinghast urges investors to act cautiously and follow five primary steps to successful investing: (1) know yourself; (2) make decisions based on your own knowledge; (3) select trustworthy and capable colleagues and collaborators; (4) avoid businesses that seem destined to fail; and (5) always search for bargains. Patience and methodical planning will pay far greater dividends than rash, bold investments. Through sensible instruction, Tillinghast teaches readers how to ask the right questions in any investing situation and think objectively and generatively about portfolio management.



Free Capital

Free Capital Author Guy Thomas
ISBN-10 9780857191243
Release 2013-09-02
Pages 290
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Wouldn't life be better if you were free of the daily grind - the conventional job and boss - and instead succeeded or failed purely on the merits of your own investment choices? Free Capital is a window into this world. Based on a series of interviews, it outlines the investing strategies, wisdom and lifestyles of 12 highly successful private investors. Each of them has accumulated £1m or more - in most cases considerably more - mainly from stock market investment. Six are 'ISA millionaires' who have £1m or more in a tax-free ISA, a result which is arithmetically impossible without exceptional investment returns. Some have several academic degrees or strong City backgrounds; others left school with few qualifications and are entirely self-taught as investors. Some invest most of their money in very few shares and hold them for years at a time; others make dozens of trades every day, and hold them for at most a few hours. Some are inveterate networkers, who spend their day talking to managers at companies in which they invest; for others a share is just a symbol on a screen, and a price chart shows most of what they need to know to make their trading decisions. Free capital - money surplus to immediate living expenses - is the raw material with which these investors work. It can also be thought of as their psychological habitat, free from the petty tribulations of office politics. Lastly, free capital describes the footloose nature of their assets, which can be quickly redirected towards any type of investment anywhere in the world, without the constraints which institutional investors often face. Although it presents many advanced insights and valuable investment hints, this is not an overly technical book. It offers practical ideas and inspiration, with revealing detail and minimal jargon, making it an indispensable read for novice and experienced investors alike.



Lay the Favorite

Lay the Favorite Author Beth Raymer
ISBN-10 9781588369857
Release 2010-06-22
Pages 240
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“Beth Raymer’s crackling, hilarious memoir ricochets through the gambling underworld in Las Vegas, and is peopled with all manner of lovable wack-jobs, none of whom is quite as wacky—or lovable—as Raymer herself.”—Marie Claire Beth Raymer waited tables at a dive in Las Vegas until a customer sent her to see Dink, of Dink Inc., one of the town’s biggest professional sports gamblers. Dink needed a right-hand man—someone who would show up on time, who had a head for numbers, and who didn’t steal. Beth got the job. Lay the Favorite is the story of Beth’s years in the high-stakes, high-anxiety world of sports betting—a period that saw the fall of the local bookie and the birth of the freewheeling, unregulated offshore sports book, and with it the elevation of sports betting in popular culture. As the business explodes, Beth rises from assistant to expert, running an offshore booking office in the Caribbean. As the men around her succumb to their vices—money, sex, drugs, gambling—Beth improbably emerges with her integrity intact, wiser, sharper, nobody’s fool. A keen and compassionate observer of the adrenaline-addicted roguish types who become her mentors, her enemies, her family, Beth Raymer depicts an insanely colorful world teeming with pathos and ecstasy. NOW A MAJOR MOTION PICTURE “Candid, smart, funny, wild and crazy.”—Elle “Raymer gleefully shatters the myth of the modern gambler. . . . Seduced by her stories, we long for this strange, sleazy and alluring landscape.”—Los Angeles Times “[Raymer depicts] a sordid, florid microworld lurching along the edge of society, not to mention legality. . . . She never condescends or indulges in reality-show caricature; she finds charm in the charmless, a point of light in the most lost of souls.”—The New York Times Book Review “Lay the Favorite reads more like a novel than a memoir. The rich characters are drawn in depth, yet simply and honestly.”—The Wall Street Journal “Entertaining (and often quite funny) . . . a delight to read.”—The New Yorker



The Physics of Wall Street

The Physics of Wall Street Author James Owen Weatherall
ISBN-10 9780547618296
Release 2013-01-08
Pages 304
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A look inside the world of “quants” and how science can (and can’t) predict financial markets: “Entertaining and enlightening” (The New York Times). After the economic meltdown of 2008, Warren Buffett famously warned, “beware of geeks bearing formulas.” But while many of the mathematicians and software engineers on Wall Street failed when their abstractions turned ugly in practice, a special breed of physicists has a much deeper history of revolutionizing finance. Taking us from fin-de-siècle Paris to Rat Pack–era Las Vegas, from wartime government labs to Yippie communes on the Pacific coast, James Owen Weatherall shows how physicists successfully brought their science to bear on some of the thorniest problems in economics, from options pricing to bubbles. The crisis was partly a failure of mathematical modeling. But even more, it was a failure of some very sophisticated financial institutions to think like physicists. Models—whether in science or finance—have limitations; they break down under certain conditions. And in 2008, sophisticated models fell into the hands of people who didn’t understand their purpose, and didn’t care. It was a catastrophic misuse of science. The solution, however, is not to give up on models; it’s to make them better. This book reveals the people and ideas on the cusp of a new era in finance, from a geophysicist using a model designed for earthquakes to predict a massive stock market crash to a physicist-run hedge fund earning 2,478.6% over the course of the 1990s. Weatherall shows how an obscure idea from quantum theory might soon be used to create a far more accurate Consumer Price Index. The Physics of Wall Street will change how we think about our economic future. “Fascinating history . . . Happily, the author has a gift for making complex concepts clear to lay readers.” —Booklist