79 min listen
109: Edward Thorp – The Man Who Beat the Dealer, and Later, Beat the Market
109: Edward Thorp – The Man Who Beat the Dealer, and Later, Beat the Market
ratings:
Length:
66 minutes
Released:
Jan 25, 2017
Format:
Podcast episode
Description
I’m not sure how to best say this, but Edward Thorp, is kind of a big deal… Not only in the world of financial markets, but he’s also a household name amongst the gambling scene. He’s the man who beat the dealer, and later, beat the market. It was during the late-50’s and early-60’s, when Ed, a math genius and professor at MIT, took on the challenge of discovering a way to get an edge playing gambling games such as blackjack, roulette and baccarat. Long story short; Ed won—and he’s now considered the father of card counting. From there, the next obvious move for Ed was to take on financial markets—which he also did with a great degree of success. His first hedge fund, Princeton Newport Partners, achieved an annualized return of 19.1% (before fees) over a 19-year period, with 227 of 230 months being profitable—the worst monthly loss being less than 1%. Ed’s most recent book, A Man For All Markets, is now available on Amazon. -- Sponsored by TradeStation.com – The online broker for professional market monitoring tools, an award-winning platform and low trading costs.
Released:
Jan 25, 2017
Format:
Podcast episode
Titles in the series (100)
034: Michael Melissinos – Launching a fund at 26, and trading trends in 40 global futures markets: When the market went down in ’08 this weeks guest, Michael Melissinos was right there, in the thick of it. He was an analyst on the trading desk at Bear Sterns, and then later at JP Morgan after they were bought out. by Chat With Traders