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 the roulette and blackjack tables of Las Vegas. It worked. They realized that there was even more money to be made in the stock market, specifically in the risky trading known as arbitrage. 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 and using his wealth to drop out of the scientific world. 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. The cast of character spans J. Edgar Hoover, Rudolph Giuliani, Michael Milken and Warren Buffett; Hollywood producers, Wall Street crooks, snarky Nobel Laureates, and the Jewish mob.
Fortune's Formula explores a new and surprising side to the Shannon legacy. Based in part on Shannon's previously unseen personal records as well as interviews with both of Shannon's wives, Thorp, and many others, it is the first full-length treatment of a subject that is changing ideas about finance. Claude Shannon believed it was possible for a smart investor to beat the market--and Fortune's Formula will convince you he was right.
威廉·龐德斯通
(William Poundstone)
威廉·龐德斯通是暢銷書作傢,著有9部非小說類文學作品,其中《推理的迷宮》和《循環的宇宙》兩部作品曾獲普利策奬提名。
本書的核心:凱利方程式 凱利方程式的核心:預期收益應以幾何平均計算的最大化為目標,而現代資本市場定價理論的基石(均值方差分析)卻是以算術平均為基礎假設的。 怪不得!一群學術大佬要堅決抵製和抨擊凱利方程式,抵製幾何平均。 因為,如果接受瞭幾何平均的思想,那麼現...
評分內容:★★★☆☆ 翻譯:★★☆☆☆ 排印:★★★☆☆ 裝幀:★★★☆☆ 這本書的敘事性大於學術性,讀者會瞭解到和凱利公式相關的一些人和事,但不會對凱利公式本身有深入的瞭解。如果這是一本以凱利公式本身為主題的學術性圖書,對讀者來說,可能會更有價值;對齣版商來說,...
評分本書的核心:凱利方程式 凱利方程式的核心:預期收益應以幾何平均計算的最大化為目標,而現代資本市場定價理論的基石(均值方差分析)卻是以算術平均為基礎假設的。 怪不得!一群學術大佬要堅決抵製和抨擊凱利方程式,抵製幾何平均。 因為,如果接受瞭幾何平均的思想,那麼現...
評分我能說這是一本很好的書嗎? 很早就知道kelly公式瞭,而且自己也找過thorp的文章來鑽研過。市麵上能買到的關於kelly公式的書籍屈指可數,此書便是其一。 買來後,發現其實是傳記故事類的。 然而很多地方都給瞭我巨大的啓發有木有! 確實如書中所說,kelly派一直受到學院派的...
評分居然是通過黑手黨,香農,索普,賭博等幾條主綫平行推進,八卦,精彩,如果能用英劇的手法拍齣來多好
评分居然是通過黑手黨,香農,索普,賭博等幾條主綫平行推進,八卦,精彩,如果能用英劇的手法拍齣來多好
评分Recommended by Charlie Munger - 2006 WESCO Annual Meeting
评分居然是通過黑手黨,香農,索普,賭博等幾條主綫平行推進,八卦,精彩,如果能用英劇的手法拍齣來多好
评分Recommended by Charlie Munger - 2006 WESCO Annual Meeting
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