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.
A child of the Great Depression, legendary mathematician Edward O. Thorp invented card counting, proving the seemingly impossible: that you could beat the dealer at the blackjack table. As a result he launched a gambling renaissance. His remarkable success—and mathematically unassailable method—caused such an uproar that casinos altered the rules of the game to thwart him and the legions he inspired. They barred him from their premises, even put his life in jeopardy. Nonetheless, gambling was forever changed.
Thereafter, Thorp shifted his sights to “the biggest casino in the world”: Wall Street. Devising and then deploying mathematical formulas to beat the market, Thorp ushered in the era of quantitative finance we live in today. Along the way, the so-called godfather of the quants played bridge with Warren Buffett, crossed swords with a young Rudy Giuliani, detected the Bernie Madoff scheme, and, to beat the game of roulette, invented, with Claude Shannon, the world’s first wearable computer.
Here, for the first time, Thorp tells the story of what he did, how he did it, his passions and motivations, and the curiosity that has always driven him to disregard conventional wisdom and devise game-changing solutions to seemingly insoluble problems. An intellectual thrill ride, replete with practical wisdom that can guide us all in uncertain financial waters, A Man for All Markets is an instant classic—a book that challenges its readers to think logically about a seemingly irrational world.
##想做 quant...
评分##自传。索普早年跟香农和凯利同在贝尔实验室,但他特别想挣钱,动了很多脑筋。他是最早跑到赌场去算21点的那批人之一,大胜,后来写了本书《战胜庄家》;后来发现可转债错价,就是可转债隐含期权价格与对应股票价格之间的错配,于是成立对冲基金搞这个,又赚了很多钱,是最早的对冲基金管理人,然后又写了本书《战胜市场》。虽然后来卷入丑闻公司关了,总的来说是人生大赢家,脑袋好使,钱袋很鼓。 在新书自序中,索普说,自己基本靠自学,所以想得跟人不同。 第一,不盲从常识,比如说不能战胜赌场。我得自己试试。 第二,我习惯将纯粹思想变成盈利工具。 第三,设定目标,制定可行计划,坚持到底。 第四,努力做到一贯理性,不是说在某个专业领域里而已,而是在与世界打交道的所有方面。 第五,在基于证据作出决策之前,保留判断。
评分##所以BS model应该叫Thorp Model???
评分##想做 quant...
评分##2017.12.13 在旅行期间陆陆续续看完了。索普是一个会写的人,将他原本就传奇的经历写的生动有趣,也可以从侧面一览美国赌博业和金融市场当年的发展。故事之外,贯穿全书的基本思想,一是学会独立思考,二是生活的意义在于你如何利用时间。就这样,他一次又一次的走在市场前面,赢得了金钱,也拥有了生活。
评分##诚意不足的自传,读者目的是学习了解其投资技术的话,还不如去看William Poundstone的《Fortune's Formula》
评分##好看,如果把最后几章他所谓的人生感悟砍掉可以再加半颗星
评分前面:我如何如何牛;中间:SEC是猪;最后:CFA入门教材
评分##想做 quant...
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