A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market

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In one section, he really throws down the gauntlet against Efficient Market Theory, but I do believe he and Buffet are outliers and that overall EMT can be important for recognizing that most people will not be able to exploit any perceived inefficiencies and over time the market tends to (mostly) correct, just how long it may take is unknown to most. When you make your money as a hedge fund manager and see so much inefficiency you tend to see markets as irrational as Thorp does. If there is a through-line to his worldview it's that we put too much trust into markets and stronger regulators with his brain could fix this. Thorp thinks along the lines of how the SEC could have stopped Bernie Madoff in the early 1990s when the irregularities came to the attention of people like Thorp. To Thorp the inability of the SEC to do so was a missed opportunity rather than an example of how politics is not a good problem solving tool.

A Man for All Markets by Edward O. Thorp | Waterstones A Man for All Markets by Edward O. Thorp | Waterstones

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 I just read this new book by Ed Thorp, the guy who beat the dealer in Las Vegas.. then he did computer algorithmic trading. I really liked the book, I recommend Thorp’s new book" - Charlie Munger The words and adventures were largely in my head; I didn’t really have anyone to discuss them with, except sometimes my tired father after work or on weekends. This led to an occasional unique pronunciation. For instance, for a couple of years I thought misled (miss-LED) was pronounced MYE-zzled, and for years afterward when I saw the word in print I would hesitate for a beat as I mentally corrected my pronunciation. Người mới bắt đầu nên tìm hiểu các khái niệm để hiểu rõ hơn cách thức đầu tư của Edward Thorp Review từ độc giả Dương Hiển MinhOverall I found the first half more interesting because of his story of pulling himself up by the bootstraps and overcoming many of life's essential unfairness. I like that he deliberately calls out how some people you come across in life will not hesitate to put their well being ahead of yours even when they already have what may be considered a comfortable position in life. What makes people successful is being able to roll with these punches to overcome what life dishes out. Joseph Heller and Kurt Vonnegut were at a party given by a billionaire…Vonnegut asked Heller how it felt to know that their host might have made more money in one day than Heller’s “Catch-22” since it was written.” Heller replied that “he had something the rich man could never have.” Vonnegut wondered what that might be, and Heller answered, “The knowledge that I’ve got enough.” (p. 213) Born in Iowa in 1898, my father, Oakley Glenn Thorp, was the second of three children, with his brother two years older and sister two years younger. When he was six his family broke up. His father took him and his brother to settle in the state of Washington. His mother and sister remained in Iowa. In 1915 my grandfather died from the flu, three years before the Great Flu Pandemic of 1918–19, which killed between twenty and forty million people worldwide. The two boys lived with an uncle until 1917. Then my father, at age eighteen, went to France to join World War I as part of the great American Expeditionary Force. He fought with the infantry in the trenches, rose from private to sergeant, and was awarded the Bronze Star, the Silver Star, and two Purple Hearts for heroism in places like Château-Thierry, Belleau Wood, and the Battles of the Marne. As a very small boy I remember sitting in his lap on a humid afternoon examining the shrapnel scars on his chest and the minor mutilation of some of his fingers.

A Man for All Markets: Beating the Odds, from Las Vegas to A Man for All Markets: Beating the Odds, from Las Vegas to

It was also refreshing to see the life balance mentioned explicitly as I think so many book glamorize the intense work dedication and ignore the often detrimental effects on home life. Although I listened to it as an audiobook, I "couldn't put it down", so to speak. Engaging autobiographical story about Ed Thorp. I liked that he spent the first part of his book laying down how his core values and how he perceives the world. It helped in building the world that he lived in, and explained the things that happened to him later in his life.My father was a sad and lonely man who didn’t express his feelings and who rarely touched us, but I loved him. I felt that this stranger was using me to put him down and I realized that I had stopped it. Whenever I remember my dad’s happiness at this, it echoes in me with a force that still seems undiminished. How has Edward known where to draw the line between growing a business and withdrawing before it consumed all else in his life? What catalyzed his decision to wind things down? [1:17:48] The authors have created a sort of anti-Book of Virtues in this encyclopedic compendium of the ways and means of power. What was it about Warren Buffett that made Edward come away from their first meeting convinced he’d someday be the richest man in the world? [34:22]

A Man for all Markets – Wilmott A Man for all Markets – Wilmott

Fortune's Formula (Claude Shannon, Kelly Criterion, Thorpe's gambling days, amalgamation of a lot of this) Though we were poor, my parents valued books and managed to buy me one occasionally. My father made challenging choices. As a result, between the ages of five and seven I carried around adult-looking books and strangers wondered if I actually knew what was in them. One man put me to an unexpected and potentially embarrassing test.Chào Tiki, cuốn sách nội dung rất tốt nhưng giao cho tôi là một cuốn sách cũ đã được bọc lại rất nhiều lỗi lem luốc mà phải đọc dần dần mới gặp. Tôi chưa đọc hết mới 1/5 đã gặp khá nhiều. Mong Tiki cẩn trọng trong việc bán hàng vì đây là sách mới giá mới. Review từ độc giả bui van hung It takes just a few minutes to sign up, and then you’ll immediately start earning 4.8% interest on your savings. And when you open an account today, you’ll get an extra fifty-dollar bonus with a deposit of five hundred dollars or more. Visit Wealthfront.com/Tim to get started. A stranger chatting with my father took the volume I was holding, written at the tenth-grade level, thumbed through it, then told my father, “That kid can’t read this book.” My father replied proudly, “He’s already read it. Ask him a question and you’ll see.”