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

This takes us through the first ten chapters. Then in Chapter 11: “Wall Street: The Greatest Casino on Earth” Thorp turns his attention to the financial markets. The titles of the next 14 chapters not only outline the story but could serve as something like a syllabus for a graduate course in investing. Viz., “Front-Running, The Quantitative Revolution, Swindles and Hazards, Buying Low, Selling High, Hedging Your Bets, Compound Growth, Beat Most Investors by Indexing, Asset Allocation and Wealth Management, etc.”

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I've come to believe very strongly that any knowledge that cannot be used in the real world is useless. Application of knowledge to solve real world problems - for individualistic gain or otherwise - satiates our desire to exist. As Munger says, we have a high moral responsibility to understand human systems and act rationally. In this regard, Thorp's autobiography is an illustrative guide to finding meaning in life - not through spirituality, but through curiosity and application of the inquisitive mind to understand the world around it. This episode is brought to you by AG1!I get asked all the time, “If you could use only one supplement, what would it be?” My answer is usually AG1, my all-in-one nutritional insurance. I recommended it in The 4-Hour Bodyin 2010 and did not get paid to do so. I do my best with nutrient-dense meals, of course, but AG1further covers my bases with vitamins, minerals, and whole-food-sourced micronutrients that support gut health and the immune system. This book is more a story of a genius than something that will help people become better investors. For all of his chest puffery, I honestly don't see how Mr. Thorpe benefits society. He exploited loopholes. Not super admirable. He seems to have had a nice life and cared very much about family and friends. While I certainly appreciate that aspect of his life and career, it's not special enough to warrant such a long and rambling autobiography. 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.

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

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” — Edward fills us in on where he grew up, how he was educated, what made the application of mathematics to gambling such a compelling challenge, and why he rushed to publish his successful system after testing it in the real world. [04:51] Our servers are getting hit pretty hard right now. To continue shopping, enter the characters as they are shown

How rich is rich? 2% p.a. spending of initial principal for compounding an endowment into perpetuity 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. This book intersects with many, many others. I'm only going to list books that I've read, but the point is that if you liked the book, or if you liked any of these books, there's quite a lot of crossover appeal. Among them:

A Man for All Markets - Google Books A Man for All Markets - Google Books

One of those unique minds who combined amazing innate math abilities with a flair for practical implications, Thorpe would enjoy decades of results that even earned the respect of Warren Buffet. Thorpe dives into any number of related topics including his own tale of spotting the Madoff fraud 20 years before it came to light....noone listened to him either. Sam Corcos, Co-Founder of Levels — The Ultimate Guide to Virtual Assistants, 10x Delegation, and Winning Freedom by Letting Go (Plus: Creating Leverage with Tools, Systems, and Processes) (#694) 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]

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First, a relatively uninteresting account of Thorp's early years, which were mainly spent reading and experimenting. 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. I want to say that I have a personal affinity for both this book and its author because of some similarities in the lives we have led. For those interested see my recently published memoir “If I Had Been a Better Man.”