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

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Joseph Heller and Kurt Vonnegut were at a party given by a billionaire…Vonnegut asked Heller how it felt to know that their host might have made more money in one day than Heller’s “Catch-22” since it was written.” Heller replied that “he had something the rich man could never have.” Vonnegut wondered what that might be, and Heller answered, “The knowledge that I’ve got enough.” (p. 213) Người mới bắt đầu nên tìm hiểu các khái niệm để hiểu rõ hơn cách thức đầu tư của Edward Thorp Review từ độc giả Dương Hiển Minh

A man Download sách Người đàn ông đánh bại mọi thị trường - A man

He was the only one of the family to survive what Francois Maurois, in his introduction, calls the "human holocaust" of the persecution of the Jews, which began with the restrictions, the singularization of the yellow star, the enclosure within the ghetto, and went on to the mass deportations to the ovens of Auschwitz and Buchenwald. There are unforgettable and horrifying scenes here in this spare and sombre memoir of this experience of the hanging of a child, of his first farewell with his father who leaves him an inheritance of a knife and a spoon, and of his last goodbye at Buchenwald his father's corpse is already cold let alone the long months of survival under unconscionable conditions.What was it about Warren Buffett that made Edward come away from their first meeting convinced he’d someday be the richest man in the world? [34:22] 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.

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

But this is a good book. See, I read "A mind at play", a biography about Claude Shannon (btw they are genius bros), and I dragged myself to finish it. It is hard to write about a genius, if you are not a genius yourself (the author of "A mind at play" admitted it himself). This one, I cannot stop reading. How did Edward suss out that something was fishy about the way the Madoff brothers were doing business 17 years before everybody else finally caught on? [50:58] The author is an extraordinarily talented and successful person. He is a brilliant theoretician who can justifiably lay claim to a handful of good mathematical theories. He is also a good investor. He has led an interesting life, particularly when he was taking on the casinos. The author has a life story that needs to be recorded for the rest of us. Yet, the way he describes it makes it unbearably one-sided and as if coming from a person too much in love with himself.

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These traits are visible right from the start. The lengthy descriptions on his own mathematical skills reveal an author who is completely unaware that as good as his analytical abilities are, they are not one in a billion or possibly even one in a million varieties. This trait of glorifying the marginally superior traits/events/investments/ideas hurts the book throughout. This also creates the impression of a person ignorant of his basic flaws and incapable of providing a balanced view of the failures. To a degree, the author’s habit to share credit with only the known greats like Shannon or Buffet creates the image of a person that might have failed to mention numerous others who might have had a bigger influence in his achievements. A Random Walk Down Wall Street / Boglehead's Guide to Investing [et al] (Everything about index funds)

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

Nội dung tốt. tuy nhiên vẫn còn lỗi chính tả .mong anh Thái xem xét in trực tiếp tiêu đề sách lên bìa cứng Review từ độc giả Đức Lê I've spent a lot of time reading books about investing and quantitative finance. Some of this was very familiar to me. This book is a train ride that stops at all of the interesting stops. Yet, Ed has so much primary information to share that he manages to make so much of this his own. The coverage is incredible, the perspective is priceless. He invented card counting, then by chance bacme an early investor in Berkshire Hathaway, was adamant about Bernie Madoff being a fraud in 1991, then became the first LP of Citadel, then turned down an opportunity to seed D. E. Shaw. I mean no disrespect when I say this, but at times the book gives the impression that Thorp has been the Forrest Gump of Quantitative Finance. On the crisis in funding for the California university system: “To starve education is to eat our seed corn. No tax today, no technology tomorrow.” (p. 341) Do what you love and the money may follow. If it does, that’s fine. If it doesn’t, you’re still doing what you love.”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" -- Even at 89, Edward considers himself a long-term thinker. How might those of us who struggle to think beyond the short-term be more like Edward? [45:59]

A Man for All Markets: From Las Vegas to Wall Street, How I A Man for All Markets: From Las Vegas to Wall Street, How I

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] 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] Let me recommend the audio book read by Thorp himself. His measured and direct voice gives one a much better feel for the precise words and the gentle soul behind them. Even though he must have been nearly 90 when he recorded it, his voice is strong and it's an endorsement to the physical activity that Thorp says has been good for his body and mind.Overall I found the first half more interesting because of his story of pulling himself up by the bootstraps and overcoming many of life's essential unfairness. I like that he deliberately calls out how some people you come across in life will not hesitate to put their well being ahead of yours even when they already have what may be considered a comfortable position in life. What makes people successful is being able to roll with these punches to overcome what life dishes out. The incredible true story of the card-counting mathematics professor who taught the world how to beat the dealer and, as the first of the great quantitative investors, ushered in a revolution on Wall Street. When you begin to think for yourself, the whole world changes and becomes much clearer.” —Edward O. Thorp One day I noticed two huge pieces of Styrofoam that looked as if they could be worn like snowshoes. Claude said they were water shoes that enabled him to “walketh upon the water,” in this case the Mystic Lake in front of his house

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