Fortune's Formula

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.

“"Seldom have true crime and smart math been blended together so engagingly." --The Wall Street Journal "An amazing story that gives a big idea the needed star treatment . . .Fortune's Formulawill appeal to readers of such books as Peter L. Bernstein'sAgainst the Gods, Nassim Nicholas Taleb'sFooled by Randomness, and Roger Lowenstein'sWhen Genius Failed. All try to explain why smart people take stupid risks. Poundstone goes them one better by showing how hedge fund Long-Term Capital Management, for one, could have avoided disaster by following the Kelly method." --Business Week(four stars) "'Fortune's Formula' may be the world's first history book, gambling primer, mathematics text, economics manual, personal finance guide and joke book in a single volume. Poundstone comes across as the best college professor you ever hand, someone who can turn almost any technical topic into an entertaining and zesty lecture." -The New York Times Book Review”

"Seldom have true crime and smart math been blended together so engagingly." --The Wall Street Journal

"An amazing story that gives a big idea the needed star treatment . . . Fortune's Formula will appeal to readers of such books as Peter L. Bernstein's Against the Gods, Nassim Nicholas Taleb's Fooled by Randomness, and Roger Lowenstein's When Genius Failed. All try to explain why smart people take stupid risks. Poundstone goes them one better by showing how hedge fund Long-Term Capital Management, for one, could have avoided disaster by following the Kelly method." --Business Week (four stars)

"'Fortune's Formula' may be the world's first history book, gambling primer, mathematics text, economics manual, personal finance guide and joke book in a single volume. Poundstone comes across as the best college professor you ever hand, someone who can turn almost any technical topic into an entertaining and zesty lecture." --The New York Times Book Review

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

Azinger's series is fast-paced action-packed fantasy. Kingdoms and characters come alive as they are woven together through twisting plots, surprising and delighting the reader with each chapter.In a world of forgotten magic, the kingdoms of Erdhe are nothing more than a chessboard for the gods. The players are being positioned for an epic struggle where lives, loves and crowns hang in the balance, yet few mortals understand the rules.In this game of power, pawns of light and darkness will make the difference in the battle for the future of the world: Katherine, 'The Imp': a young princess with the stout heart of a warrior will challenge the minions of a thousand-year-old evil. Liandra: The Spider Queen; who uses her beauty to beguile, her spies to foresee, and her gold to control, will need all of her skill and strength to fight a rebellion with her own blood at it's heart. Magda, a silver-haired grandmother who has been stripped of all she holds dear will be underestimated in the fight against a false religion. Cereus, an oracle priestess, will ply her powers of dark magic and seduction in her quest for immortality. Steffan, the puppeteer, will corrupt the innocent and unwary with greed and desire, as he sets fire to an entire kingdom.

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