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

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I’ve got something the billionaire could never have. The knowledge that I’ve got enough.” -Joseph Heller, the author of Catch-22, to Kurt Vonnegut at a billionaire’s party. Pondering a conversation between Joseph Heller and Kurt Vonnegut and other parting thoughts. [1:26:37] In A Man for All Markets, [Thorp] delightfully recounts his progress (if that is the word) from college teacher to gambler to hedge-fund manager. Along the way we learn important lessons about the functioning of markets and the logic of investment.” — The Wall Street Journal

A Man for All Markets - Google Books A Man for All Markets - Google Books

Having made enough money to last him and his wife comfortably for the rest of their lives, he retired to spend time with his family, traveling, and enjoying life. And writing this autobiography, which is full of gems of wisdom about managing your money and life in general. 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]

There’s an old saying, ‘Give a person a fish and they eat for a day; teach a person to fish and they eat for a lifetime.’ And it’s a similar thing for thinking. If you give somebody advice about a problem, they might solve that one problem. If you teach them how to think about problems, they can solve problems for the rest of their life.” I just read this new book by Ed Thorp, the guy who beat the dealer in Las Vegas.. then he did computer algorithmic trading. I really liked the book, I recommend Thorp’s new book" - Charlie Munger If you really are interested in investing, it’s worth educating yourself and trying to do it because you will learn a lot about investing. You might actually find a way to win, and you’ll learn about how the world works and a lot about life too. The things you learn from what seems like a narrow, specialized field, generalizes very widely to all kinds of things if you’re the kind of person who can take a lesson in one part of life and transport it to another part of life.” Our servers are getting hit pretty hard right now. To continue shopping, enter the characters as they are shown If Edward were teaching a seminar in investing to a modern student body (some of whom might not possess an aptitude for math), what frameworks would he impart to get them started? [38:55]

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

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. 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. What you should be reading and listening to if you want to enact positive change in the world right now — politically or evolutionarily. [1:08:29] It was also refreshing to see the life balance mentioned explicitly as I think so many book glamorize the intense work dedication and ignore the often detrimental effects on home life.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. Brought to you by Wealthfrontautomated investing, Athletic Greensall-in-one nutritional supplement, and Eight Sleep’s Pod Pro Cover sleeping solution for dynamic cooling and heating. More on all three below.