Used copies of Dr. Thorp's ground-breaking book Beat the Market now fetch an asking price of $1,495 on the web:
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Beat the Market
by Thorp, Edward O.
price: $1,495.00
Ships from CA, USA
add to wishlistEdition: First Printing Binding: Hard Cover Publisher: Random, New York, NY, U.S.A. Date Published: 1967 ISBN-13: 9780394424392 ISBN: 0394424395
Description: Very Good/Very Good. 0394424395. read more
Seller information:
Name: J.E. Miles, A Bookseller, CA, USA
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(Source: www.Alibris.com)
Wednesday, February 4, 2009
Edward O. Thorp: The Market Wizard of Market Wizards
Profiled in Schwager's biblical work, Market Wizards, Interviews with Top Traders (HarperBusiness 1988), top trader Larry Hite says that after reading Edward O. Thorp's Beat the Dealer, he came away with the idea that "Successful investment was really a matter of odds, and if you could compute the odds, you could find....methods that could beat the market."
Blair Hull, profiled in Schwager's follow up book entitled The New Market Wizards (HarperBusiness 1992), says he was inspired by Ed Thorp's book prior to 1971. "Without it, I don't think I would be in the trading business today." Hull's trading was so successful he later sold his company to Goldman Sachs for $531 million in 1999. (Source: The Boston Globe, July 13, 1999)
Blair Hull, profiled in Schwager's follow up book entitled The New Market Wizards (HarperBusiness 1992), says he was inspired by Ed Thorp's book prior to 1971. "Without it, I don't think I would be in the trading business today." Hull's trading was so successful he later sold his company to Goldman Sachs for $531 million in 1999. (Source: The Boston Globe, July 13, 1999)
Thorp as Contributor Lends Credibility to Wilmott Magazine
From Conde Nast Portfolio.com (September 2008 Issue): The Quant's Bible (Wilmott Magazine)
"In the November 2007 issue [of Wilmott Magazine], Ed Thorp wrote a piece called “Investing in Hedge Funds.” To have Thorp writing about that topic is like getting advice on how to run an insurance company from Warren Buffett. Thorp, now 75, is among the oldest and most successful of the quants. He ran hedge funds for decades and says he has averaged a 20 percent return, after fees, over the past 30 years. He taught math at M.I.T. and invented the modern version of card counting, chronicled in his bestseller on blackjack, Beat the Dealer."
"In the November 2007 issue [of Wilmott Magazine], Ed Thorp wrote a piece called “Investing in Hedge Funds.” To have Thorp writing about that topic is like getting advice on how to run an insurance company from Warren Buffett. Thorp, now 75, is among the oldest and most successful of the quants. He ran hedge funds for decades and says he has averaged a 20 percent return, after fees, over the past 30 years. He taught math at M.I.T. and invented the modern version of card counting, chronicled in his bestseller on blackjack, Beat the Dealer."
Dr. Edward O. Thorp: Godfather to the Quant Revolution
Thorp is:
- The father of Card Counting in Blackjack (author of best-selling Beat the Dealer)
- The father of Option and Warrant Modeling & Arbitrage (author of Beat the Market)
- Principal of the first known Market Neutral Hedge Fund and Market Neutral Fund of Funds
- 40+ year Wall Street Veteran
- Pioneer of many strategies now routinely used (option arbitrage, warrant and convertible arbitrage, index arbitrage, statstical arbitrage -- "stat arb", Kelly Criterion application)
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