Title
Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street,Used
Delivery time: 8-12 business days (International)
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 Einsteins. The other was John L. Kelly Jr., a Texasborn, guntoting physicist. Together they applied the science of information theorythe basis of computers and the Internetto 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, PrincetonNewport Partners. Shannon became a successful investor, too, topping even Warren Buffetts rate of return. Fortunes Formula traces how the Kelly formula sparked controversyeven as it made fortunes at racetracks, casinos, and tradingdesks. It reveals the dark side of this alluring scheme, which isfounded on exploiting an insiders edge.Shannon believed it was possible for a smart investor to beatthe marketand Fortunes Formula will convince you that he was right. William Poundstone is the bestselling author of nine nonfiction books, including Labyrinths of Reason and The Recursive Universe. 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 Texasborn, guntoting physicist. Together they applied the science of information theorythe basis of computers and the Internetto 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, PrincetonNewport Partners. Shannon became a successful investor, too, topping even Warren Buffett's rate of return. Fortune's Formula traces how the Kelly formula sparked controversyeven as it made fortunes at racetracks, casinos, and tradingdesks. It reveals the dark side of this alluring scheme, which isfounded on exploiting an insider's edge.Shannon believed it was possible for a smart investor to beatthe marketand Fortune's Formula will convince you that he was right. 'Fortune's Formula may be the world's first history book, gambling primer, mathematics text, economics manual, personal finance guide and joke book in a single volume. Poundstone comes across as the best college professor you ever hand, someone who can turn almost any technical topic into an entertaining and zesty lecture.'The New York Times Book Review 'Fortune's Formula may be the world's first history book, gambling primer, mathematics text, economics manual, personal finance guide and joke book in a single volume. Poundstone comes across as the best college professor you ever hand, someone who can turn almost any technical topic into an entertaining and zesty lecture.'The New York Times Book Review 'Seldom have true crime and smart math been blended together so engagingly'The Wall Street Journal'An amazing story that gives a big idea the needed star treatment . . . Fortune's Formula will appeal to readers of such books as Peter L. Bernstein's Against the Gods, Nassim Nicholas Taleb's Fooled by Randomness, and Roger Lowenstein's When Genius Failed. All try to explain why smart people take stupid risks. Poundstone goes them one better by showing how hedge fund LongTerm Capital Management, for one, could have avoided disaster by following the Kelly method.'Business Week 'Poundstone, a twotime Pulitzer Prize nominee, takes us from chalkboard to stock market and back as he explains the 'Kelly formula' for gambling through the lives of those who developed and exploited the system. It is a rollicking tale about money, mathematics and greed.'Bloomberg 'A dazzling array of math geniuses, rogues, swindlers, Nobel Prize winners, guntoting physicistsall massaging the formulas that give them an edge in creating fortunes.'George J. W. Goodman (aka 'Adam Smith'), author of The Money Game and Supermoney 'This is a wonderful tale of how mathematics got married to gambling and went off to honeymoon in Las Vegas, before finding ultimate happiness in the biggest casino of allthe world financial markets. Poundstone has produced a rogues' gallery of mobsters and mathematicians, kneecappers and handicappers, card sharps, professors, systems players, numbers runners, and number crunchersthe best 'investment advisers' you can find. Anyone interested in playing the markets should buy this book and read it immediately.'Thomas A. Bass, author of The Eudaemonic Pie and The Predictors 'The true story of the intertwining lives of financial legends, mathematical geniuses and crooked mobsters. Who would y
By changing our most important processes and
products, we have already made a big leap forward. This ranges from the
increased use of more sustainable fibers to the use of more
environmentally friendly printing processes to the development of
efficient waste management in our value chain.
Shipping & Returns
Shipping
We ship your order within 2–3 business days for USA deliveries and 5–8 business days for international shipments. Once your package has been dispatched from our warehouse, you'll receive an email confirmation with a tracking number, allowing you to track the status of your delivery.
Returns
To facilitate a smooth return process, a Return Authorization (RA) Number is required for all returns. Returns without a valid RA number will be declined and may incur additional fees. You can request an RA number within 15 days of the original delivery date. For more details, please refer to our Return & Refund Policy page.
Shipping & Returns
Shipping
We ship your order within 2–3 business days for USA deliveries and 5–8 business days for international shipments. Once your package has been dispatched from our warehouse, you'll receive an email confirmation with a tracking number, allowing you to track the status of your delivery.
Returns
To facilitate a smooth return process, a Return Authorization (RA) Number is required for all returns. Returns without a valid RA number will be declined and may incur additional fees. You can request an RA number within 15 days of the original delivery date. For more details, please refer to our Return & Refund Policy page.
Warranty
We provide a 2-year limited warranty, from the date of purchase for all our products.
If you believe you have received a defective product, or are experiencing any problems with your product, please contact us.
This warranty strictly does not cover damages that arose from negligence, misuse, wear and tear, or not in accordance with product instructions (dropping the product, etc.).
Warranty
We provide a 2-year limited warranty, from the date of purchase for all our products.
If you believe you have received a defective product, or are experiencing any problems with your product, please contact us.
This warranty strictly does not cover damages that arose from negligence, misuse, wear and tear, or not in accordance with product instructions (dropping the product, etc.).
Secure Payment
Your payment information is processed securely. We do not store credit card details nor have access to your credit card information.
We accept payments with :
Visa, MasterCard, American Express, Paypal, Shopify Payments, Shop Pay and more.
Secure Payment
Your payment information is processed securely. We do not store credit card details nor have access to your credit card information.
We accept payments with :
Visa, MasterCard, American Express, Paypal, Shopify Payments, Shop Pay and more.