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The incredible story of the math teacher and card counter who taught the world how to beat blackjack and revolutionized Wall Street with the quantitative analysis of large investments.
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The great mathematician Edward O.
Thorp invented the card counting, proving what seemed impossible: to defeat the bench at the blackjack table. As a result, he ushered in a new era of gambling. His enormous success and mathematically unchallenged method caused such an uproar that casinos altered the rules of the game to escape him and the legions of gamblers he inspired.
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Shortly after Thorp returned his gaze to the “largest casino in the world”: Wall Street. By developing and deploying mathematical formulas to win the market, Thorp has introduced the age of quantitative finance in which we live today.
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In this book, the mathematician first tells the story of what he did, and how he did it; speaks of his passions and motivations, and of the curiosity that has always led him to disregard traditional knowledge and to conceive of revolutionary solutions to seemingly insoluble problems. A tasty intellectual narrative, full of practical wisdom that can guide us through financially uncertain times.
“Thorp makes a delightful account of his evolution (if that’s the word) from college professor to hedge player and hedge fund manager. Throughout the narrative we learn important lessons about how markets work and the logic of investing.” – The Wall Street Journal