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It’s truly astounding to see the amount of people that Ed Thorp as well as his book Beat the dealer have influenced. The amount of successful people in finance
by ferros 7y ago
It’s truly astounding to see the amount of people that Ed Thorp as well as his book Beat the dealer have influenced.
The amount of successful people in finance and other fields that mention him as an influence is not insignificant.
- jmportilla 7y agoin case you haven't already, his autobiography "Man for all markets" is great.
- PaulRobinson 7y agoSeconded: this is a truly great book, as is William Poundstone's "Fortune's Forumla" which describes Kelly Criterion: perhaps the most influential equation in trading and gambling in the history of either.
- JJMcJ 7y agoCan endorse. Amusing in a grim way - he had a trading firm, two offices. His own in Orange County California. East Coast office went rogue, was raided by Feds. Thorpe shut down his side right afterward. He published some of his trading methods in "Beat The Market", about trading warrants, which were more or less options issued by the companies themselves, instead of written by third parties. Well worth reading.
- Real_S 7y agoHe has a great website, full of his articles: http://www.edwardothorp.com/articles/ http://www.edwardothorp.com/articles/
- dcolkitt 7y agoFun fact about Ed Thrope is that it's pretty likely he derived the correct formula for pricing options a decade before Black/Scholes/Merton. Unlike them though, he kept it to himself so it wouldn't dilute his edge in the market. The latter would of course publish their work and go on to win the Nobel Prize in economics. So, Ed Thorpe basically gave up the Nobel Prize to make a shitton of money instead.
- deleted 7y ago[deleted]