Liberty Posted January 23, 2017 Share Posted January 23, 2017 Coming out January 24. Seems like this has a good chance of being really interesting. There was a fair bit about Thorp in Fortune's Formula (by William Poundstone), and it was quite interesting IMO. https://www.amazon.com/Man-All-Markets-Street-Dealer/dp/1400067960/ Link to comment Share on other sites More sharing options...
onyx1 Posted January 23, 2017 Share Posted January 23, 2017 Thanks for posting Liberty. Just put in my pre-order. Link to comment Share on other sites More sharing options...
dcollon Posted January 23, 2017 Share Posted January 23, 2017 Thanks for the heads up Liberty. Link to comment Share on other sites More sharing options...
nwoodman Posted January 23, 2017 Share Posted January 23, 2017 Recent Planet Money Podcast on Ed Thorpe http://www.npr.org/sections/money/2017/01/20/510810752/episode-749-professor-blackjack Link to comment Share on other sites More sharing options...
wescobrk Posted January 23, 2017 Share Posted January 23, 2017 Mine arrives Thursday. I'm looking forward to it. Link to comment Share on other sites More sharing options...
moneyball Posted January 25, 2017 Share Posted January 25, 2017 Got my copy yesterday. Only about a quarter of the way through, but already have the impression that Ed Thorp might be one of the smartest people alive. Highly recommend picking up a copy. Link to comment Share on other sites More sharing options...
merkhet Posted January 25, 2017 Share Posted January 25, 2017 Read an interview with him recently -- he sounds Munger-esque in the way that he approaches second and third order consequences. Link to comment Share on other sites More sharing options...
Jurgis Posted January 25, 2017 Share Posted January 25, 2017 There's tons of his writings at http://www.edwardothorp.com/ The site was redone for the book, so no guarantee if they kept everything, added or removed stuff. E.g. old site pointed to articles he wrote to some math newsletter - not sure if these are still around. Link to comment Share on other sites More sharing options...
whiterose Posted January 25, 2017 Share Posted January 25, 2017 http://www.timmelvin.com/a-conversaation-with-ed-thorp/ Link to comment Share on other sites More sharing options...
Guest notorious546 Posted March 21, 2017 Share Posted March 21, 2017 I thought it was great. Maybe there was a few pages that were dull but generally speaking really enjoyed his approach and writing style. I'll try to write an summary in the coming weeks. Link to comment Share on other sites More sharing options...
Liberty Posted March 21, 2017 Author Share Posted March 21, 2017 I enjoyed it too. Not the best ever, but worth reading, especially if you haven't read all the other accounts of Thorp (if you have, it's still good, but some parts will be less surprising). Link to comment Share on other sites More sharing options...
Guest longinvestor Posted April 7, 2017 Share Posted April 7, 2017 Just finished reading (listening to) the book. Excellent overall. He drives home the point about acting (investing) only when you have an edge. In his case, a mathematical one, which to me underscores a kind of intellectual honesty. Example, asking his wife to deal cards to him countless times to improve his card counting speed! Kind of aligns with the circle of competence idea. With aligned thoughts on many fronts, notably the take down of the EMH, I can see why Munger recommended this book. I especially like the fact that his giving back idea is centered on the Berkshire shares doing well, besides the UC Irvine institution surviving for a very long time! It gave me some ideas for my giving back. Plan to read (listen to) specific portions once again. Link to comment Share on other sites More sharing options...
LongTermView Posted April 7, 2017 Share Posted April 7, 2017 I'm reading through it now - still in the early parts of the book about blackjack. Link to comment Share on other sites More sharing options...
tede02 Posted May 17, 2017 Share Posted May 17, 2017 Just finished. Excellent read. I'd highly recommend it. It was particularly interesting reading about the history of quantitative hedge funds. This is something I knew very little about. Ed Thorp's life story great in itself. I think you could make a movie about it. Pretty amazing that he identified the Madoff fraud almost 20 years before it imploded. Link to comment Share on other sites More sharing options...
Hielko Posted May 17, 2017 Share Posted May 17, 2017 I thought the book was okay, not great. The first part of the book with his life story is very interesting, second half of the book where he tries to explain basic investing stuff among others could better have been removed. Link to comment Share on other sites More sharing options...
writser Posted May 17, 2017 Share Posted May 17, 2017 The part about the swimming pool was awesome. Great kid. I agree that they should've sticked to the biography only. Link to comment Share on other sites More sharing options...
Liberty Posted May 18, 2017 Author Share Posted May 18, 2017 The part about the swimming pool was awesome. Great kid. I agree that they should've sticked to the biography only. Some of the latter chapters were of little interest to me, but I can imagine that they'd be a good primer on a few things for a more general audience or investing-beginners, so I don't mind to much. I just skimmed them (realizing that I didn't have to finish books and read every word was a very freeing realization). That's the good interpretation. The bad one is that some editor said: "We need more pages". Link to comment Share on other sites More sharing options...
DooDiligence Posted June 10, 2017 Share Posted June 10, 2017 I thought it was great. Maybe there was a few pages that were dull but generally speaking really enjoyed his approach and writing style. I'll try to write an summary in the coming weeks. If u liked this then you'll enjoy notorious' blog post about Brian Gaines at Springhouse Capital. It fits with this conversation. I especially liked “I know concentrated investing is out of style today as some high profile investors have had tough times, but it seems more appropriate than ever to wait for great situations and take oversized positions.” I'm actively waiting. Link to comment Share on other sites More sharing options...
Peregrino Posted July 7, 2017 Share Posted July 7, 2017 Just finished. Excellent read. I'd highly recommend it. It was particularly interesting reading about the history of quantitative hedge funds. This is something I knew very little about. Ed Thorp's life story great in itself. I think you could make a movie about it. Pretty amazing that he identified the Madoff fraud almost 20 years before it imploded. The real interesting, and timely, thing about the Madoff story relayed by Thorp is that according to Bloomberg, Madoff is trying to help some former investors by arguing that his fraud started in 1992, so anything they took out of the fund prior to that year was not part of the Ponzi scheme. (https://www.bloomberg.com/news/articles/2017-06-23/madoff-clients-fighting-for-fortunes-get-help-from-the-con-man) But if you follow the timeline for when Thorp figured out the fraud, it's 1990. Not surprising that a liar continues to lie - mostly surprising that anyone would take his statements as evidence... Link to comment Share on other sites More sharing options...
thelads Posted July 7, 2017 Share Posted July 7, 2017 Doodilligence, do you happen to have a link to that blog post? Link to comment Share on other sites More sharing options...
tede02 Posted July 7, 2017 Share Posted July 7, 2017 Just finished. Excellent read. I'd highly recommend it. It was particularly interesting reading about the history of quantitative hedge funds. This is something I knew very little about. Ed Thorp's life story great in itself. I think you could make a movie about it. Pretty amazing that he identified the Madoff fraud almost 20 years before it imploded. The real interesting, and timely, thing about the Madoff story relayed by Thorp is that according to Bloomberg, Madoff is trying to help some former investors by arguing that his fraud started in 1992, so anything they took out of the fund prior to that year was not part of the Ponzi scheme. (https://www.bloomberg.com/news/articles/2017-06-23/madoff-clients-fighting-for-fortunes-get-help-from-the-con-man) But if you follow the timeline for when Thorp figured out the fraud, it's 1990. Not surprising that a liar continues to lie - mostly surprising that anyone would take his statements as evidence... Absolutely. I wouldn't doubt if the fraud went back long before 1990 even. Thorp's life story was just great. Self made, and got it done with no shenanigans. Plus all the people he encountered throughout his life (the Las Vegas people and east coast guys who funded his gambling venture, Feynman, Buffett, Claude Shannon, Madoff, etc.). Link to comment Share on other sites More sharing options...
boilermaker75 Posted July 7, 2017 Share Posted July 7, 2017 Just finished. Excellent read. I'd highly recommend it. It was particularly interesting reading about the history of quantitative hedge funds. This is something I knew very little about. Ed Thorp's life story great in itself. I think you could make a movie about it. Pretty amazing that he identified the Madoff fraud almost 20 years before it imploded. The real interesting, and timely, thing about the Madoff story relayed by Thorp is that according to Bloomberg, Madoff is trying to help some former investors by arguing that his fraud started in 1992, so anything they took out of the fund prior to that year was not part of the Ponzi scheme. (https://www.bloomberg.com/news/articles/2017-06-23/madoff-clients-fighting-for-fortunes-get-help-from-the-con-man) But if you follow the timeline for when Thorp figured out the fraud, it's 1990. Not surprising that a liar continues to lie - mostly surprising that anyone would take his statements as evidence... Absolutely. I wouldn't doubt if the fraud went back long before 1990 even. Thorp's life story was just great. Self made, and got it done with no shenanigans. Plus all the people he encountered throughout his life (the Las Vegas people and east coast guys who funded his gambling venture, Feynman, Buffett, Claude Shannon, Madoff, etc.). There is a book coming out soon on Claude Shannon, https://www.amazon.com/Mind-Play-Shannon-Invented-Information-ebook/dp/B01M5IJN1P/ref=sr_1_1?s=books&ie=UTF8&qid=1499436789&sr=1-1&keywords=claude+shannon Being an EE, I can't wait to read it! Link to comment Share on other sites More sharing options...
Liberty Posted July 7, 2017 Author Share Posted July 7, 2017 There is a book coming out soon on Claude Shannon, https://www.amazon.com/Mind-Play-Shannon-Invented-Information-ebook/dp/B01M5IJN1P/ref=sr_1_1?s=books&ie=UTF8&qid=1499436789&sr=1-1&keywords=claude+shannon Being an EE, I can't wait to read it! That's going on the list, thanks! Link to comment Share on other sites More sharing options...
thowed Posted July 7, 2017 Share Posted July 7, 2017 Lads, if you're still looking: https://anonymoosenotes.wordpress.com/2017/03/10/notes-on-brian-gaines-of-springhouse-capital-management/ btw - thanks for your big thread - it's been a fascinating read. Link to comment Share on other sites More sharing options...
boilermaker75 Posted July 11, 2017 Share Posted July 11, 2017 There is a book coming out soon on Claude Shannon, https://www.amazon.com/Mind-Play-Shannon-Invented-Information-ebook/dp/B01M5IJN1P/ref=sr_1_1?s=books&ie=UTF8&qid=1499436789&sr=1-1&keywords=claude+shannon Being an EE, I can't wait to read it! That's going on the list, thanks! Liberty, If you have not seen this yet, I thought it would be of interest, http://spectrum.ieee.org/geek-life/history/meet-the-authors-of-a-mind-at-play-how-claude-shannon-invented-the-information-age Link to comment Share on other sites More sharing options...
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