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