A Man for All Markets

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

by EDWARD O. THORP

A Man for All Markets

Description

In Edward Thorp’s two other books, Beat the Dealer and Beat the Market, he mathematically proves how Blackjack can be beaten through card counting and how warrant options can be priced and beaten, respectively. His two books, which has caused a stir in the industry, has raised him to fame. 

Now in A Man for all Markets, he illustrates how he conquered casinos, the market, and Wall Street. He narrates the story of how he learned to beat the tricks and games in the market and how to win it. 

The book shows how Thorp was a genius when it comes to mathematics, science, and finance. He shows how he impressively broke and changed the rules of the game through determined computation and research.

The book delves into Thorp’s early adventures when he first became interested in roulette and other puzzles. It then delves into a chronological narration of how he started experimenting, succeeding, and eventually testing out his results. It shows how Thorp’s experiments contributed to the studies in mathematics and computation, and even in the market. 

About the Author

EDWARD O. THORP is known to have co-invented the first wearable computer alongside Claude Shannon. He is viewed as one of the best hedge fund managers globally. He is an author of many finance books such as Beat the Dealer and Beat the Market, which is both revolutionary. He received his Ph.D. from the University of California, Los Angeles, and worked as a professor at the University of California, Irvine. 

Table of Contents

Preface

Foreword 

Chapter 1: LOVING TO LEARN

Chapter 2: SCIENCE IS MY PLAYGROUND

Chapter 3: PHYSICS AND MATHEMATICS

Chapter 4: LAS VEGAS

Chapter 5: CONQUERING BLACKJACK

Chapter 6: THE DAY OF THE LAMB

Chapter 7: CARD COUNTING FOR EVERYONE

Chapter 8: PLAYERS VERSUS CASINOS

Chapter 9: A COMPUTER THAT PREDICTS ROULETTE

Chapter 10: AN EDGE AT OTHER GAMBLING GAMES

Chapter 11: WALL STREET: THE GREATEST CASINO ON EARTH

Chapter 12: BRIDGE WITH BUFFETT

Chapter 13: GOING INTO PARTNERSHIP

Chapter 14: FRONT-RUNNING THE QUANTITATIVE REVOLUTION

Chapter 15: RISE…

Chapter 16: …AND FALL

Chapter 17: PERIOD ADJUSTMENT

Chapter 18: SWINDLES AND HAZARDS

Chapter 19: BUYING LOW, SELLING HIGH

Chapter 20: BACKING THE TRUCK UP TO THE BANKS

Chapter 21: ONE LAST PUFF

Chapter 22: HEDGING YOUR BETS

Chapter 23: HOW RICH IS RICH?

Chapter 24: COMPOUND GROWTH: THE EIGHTH WONDER OF THE WORLD

Chapter 25: BEAT MOST INVESTORS BY INDEXING

Chapter 26: CAN YOU BEAT THE MARKET? SHOULD YOU TRY?

Chapter 27: ASSET ALLOCATION AND WEALTH MANAGEMENT

Chapter 28: GIVING BACK

Chapter 29: FINANCIAL CRISES: LESSONS NOT LEARNED

Chapter 30: THOUGHTS

Epilogue

Appendix A: THE IMPACT OF INFLATION ON THE DOLLAR

Appendix B: HISTORICAL RETURNS

Appendix C: THE RULE OF 72 AND MORE

Appendix D: PERFORMANCE OF PRINCETON NEWPORT PARTNERS, LP

Appendix E: OUR STATISTICAL ARBITRAGE RESULTS FOR A FORTUNE 100 COMPANY

Acknowledgments

Notes

Bibliography

Index

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