具体描述
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 the roulette and blackjack tables of Las Vegas. It worked. They realized that there was even more money to be made in the stock market, specifically in the risky trading known as arbitrage. Thorp used the Kelly system with his phenomenonally successful hedge fund Princeton-Newport Partners. Shannon became a successful investor, too, topping even Warren Buffett's rate of return and using his wealth to drop out of the scientific world. 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. The cast of character spans J. Edgar Hoover, Rudolph Giuliani, Michael Milken and Warren Buffett; Hollywood producers, Wall Street crooks, snarky Nobel Laureates, and the Jewish mob.
Fortune's Formula explores a new and surprising side to the Shannon legacy. Based in part on Shannon's previously unseen personal records as well as interviews with both of Shannon's wives, Thorp, and many others, it is the first full-length treatment of a subject that is changing ideas about finance. Claude Shannon believed it was possible for a smart investor to beat the market--and Fortune's Formula will convince you he was right.
作者简介
威廉·庞德斯通
(William Poundstone)
威廉·庞德斯通是畅销书作家,著有9部非小说类文学作品,其中《推理的迷宫》和《循环的宇宙》两部作品曾获普利策奖提名。
目录信息
读后感
本书的核心:凯利方程式 凯利方程式的核心:预期收益应以几何平均计算的最大化为目标,而现代资本市场定价理论的基石(均值方差分析)却是以算术平均为基础假设的。 怪不得!一群学术大佬要坚决抵制和抨击凯利方程式,抵制几何平均。 因为,如果接受了几何平均的思想,那么现...
比较有趣。100年来以数学家为主的科学家们跟赌场和股市搏斗的故事:信息论创始人香农居然是炒股高手,收益率超过巴菲特的公司1个百分点;21点、轮盘赌、赌马面对科学家赌徒们精确的算计败下阵来,股市则难对付得多。 涉及到许多欧美的人名和公司名,大部分都是我不熟悉的。 ...
本书的核心:凯利方程式 凯利方程式的核心:预期收益应以几何平均计算的最大化为目标,而现代资本市场定价理论的基石(均值方差分析)却是以算术平均为基础假设的。 怪不得!一群学术大佬要坚决抵制和抨击凯利方程式,抵制几何平均。 因为,如果接受了几何平均的思想,那么现...
内容:★★★☆☆ 翻译:★★☆☆☆ 排印:★★★☆☆ 装帧:★★★☆☆ 这本书的叙事性大于学术性,读者会了解到和凯利公式相关的一些人和事,但不会对凯利公式本身有深入的了解。如果这是一本以凯利公式本身为主题的学术性图书,对读者来说,可能会更有价值;对出版商来说,...
用户评价
Recommended by Charlie Munger - 2006 WESCO Annual Meeting
居然是通过黑手党,香农,索普,赌博等几条主线平行推进,八卦,精彩,如果能用英剧的手法拍出来多好
Recommended by Charlie Munger - 2006 WESCO Annual Meeting
Recommended by Charlie Munger - 2006 WESCO Annual Meeting
居然是通过黑手党,香农,索普,赌博等几条主线平行推进,八卦,精彩,如果能用英剧的手法拍出来多好