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Fortune's Formula

Fortune's Formula


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About the Book

In 1956 two Bell Labs scientists discovered the scientific formula for getting rich. One was mathematician Claude Shannon, neurotic father of our digital age, whose genius is ranked with Einstein's. The other was John L. Kelly Jr., a Texas-born, gun-toting physicist. Together they applied the science of information theory--the basis of computers and the Internet--to the problem of making as much money as possible, as fast as possible.

Shannon and MIT mathematician Edward O. Thorp took the Kelly formula to Las Vegas. It worked. They realized that there was even more money to be made in the stock market. Thorp used the Kelly system with his phenomenally successful hedge fund, Princeton-Newport Partners. Shannon became a successful investor, too, topping even Warren Buffett's rate of return. Fortune's Formula traces how the Kelly formula sparked controversy even as it made fortunes at racetracks, casinos, and trading desks. It reveals the dark side of this alluring scheme, which is founded on exploiting an insider's edge.

Shannon believed it was possible for a smart investor to beat the market--and William Poundstone's Fortune's Formula will convince you that he was right.


About the Author: William Poundstone is the bestselling author of several nonfiction books, including Labyrinths of Reason and The Recursive Universe.


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Product Details
  • ISBN-13: 9780809045990
  • Publisher: Hill & Wang
  • Publisher Imprint: Hill & Wang
  • Depth: 32
  • Language: English
  • Returnable: Y
  • Spine Width: 28 mm
  • Weight: 390 gr
  • ISBN-10: 0809045990
  • Publisher Date: 19 Sep 2006
  • Binding: Paperback
  • Height: 208 mm
  • No of Pages: 408
  • Series Title: English
  • Sub Title: The Untold Story of the Scientific Betting System That Beat the Casinos And Wall Street
  • Width: 140 mm


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    A Thrilling But Totally Believable Murder Mystery

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    BoxerLover2 - 5 Days ago
    A Thrilling But Totally Believable Murder Mystery

    Read this in one evening. I had planned to do other things with my day, but it was impossible to put down. Every time I tried, I was drawn back to it in less than 5 minutes. I sobbed my eyes out the entire last 100 pages. Highly recommend!


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