Audio Book A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market with FREE PDF EDITION Download Now!

 4,5

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Audio Book A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market with FREE PDF EDITION Download Now!

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

At this time of writing, The Audiobook A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market has garnered 10 customer reviews with rating of 5 out of 5 stars. Not a bad score at all as if you round it off, it’s actually a perfect TEN already. From the looks of that rating, we can say the Audiobook is Good TO READ!

Audio Book A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market with FREE PDF EDITION!

Edward Thorp is a remarkable man - a polymath of science, computing, mathematics, and finance - and I have looked up to him for a large portion of my life, from when I read "Beat the Dealer" as an impressionable young teenager, to my career in finance as I learned more about his incredible investing exploits, told skillfully in Poundstone's "Fortune's Formula". So, I came to this book with very high hopes.The book is basically four parts:First, a relatively uninteresting account of Thorp's early years, which were mainly spent reading and experimenting.Second, the stories of his successful card counting, roulette, and baccarat adventures, which were more interestingly told in "Beat the Dealer" and several other accounts.Third, his investment management career, which was so consistently successful until it came to a screeching halt on federal charges against members of the east coast branch of his firm (Thorp does appear to have been completely uninvolved and unaware). Most of his success appears to have turned on what would today be considered fairly simple options arbitrage, albeit only simple because Thorp himself devised much of the foundational work on which options pricing rests today.Fourth, and longest, a 120+ page meditation on the recent past, including a handful of successful investment ideas that have been discussed ad nauseam elsewhere (thrift conversions, the Palm/3Com arbitrage trade, statistical arb) and long ruminations on compound interest, personal finance, the hedge fund industry, personal fitness, time, and his interesting but fairly tangential interactions with Warren Buffett, among other things.This section also contains a jarring discussion of Thorp having extensively vetted Bernie Madoff’s fund in 1991 and then conclusively proving that it was a fraud. Then, shockingly, other than telling an investor client to withdraw his funds, he sat on this information for 17 years despite having located investors who had entrusted at least $500m to Madoff, and likely being aware of far more. The SEC ignored Harry Markopolous, but it seems much more likely that they would have taken Thorp, a distinguished academic and well-connected public figure, seriously. It is hard to take Thorp’s moralizing on much smaller issues seriously when he seemingly sat on information that could have saved hundreds of investors their life savings. Thorp then describes a similar situation with a smaller $200m Ponzi scheme in 1982. Many of us may have failed to speak up as well, but Thorp devotes no time to the ramifications of his failure to act.I came away very disappointed in this book - Thorp is a brilliant, brilliant individual who has contributed significantly to numerous fields - but most of these stories have already been told in classic works by Thorp himself, Klarman, Greenblatt, Poundstone, etc. The book feels padded with wise but fairly generic advice, and notably lacking in discussion of his family life and how he coped with the abrupt end of Princeton Newport, with a nearly two-decade skip between Chapter 16 and Chapter 17. I would still recommend this to almost anyone interested in gambling or finance (especially both!), and remain a fan of his, but I came away from this very disappointed.

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