A Man For All Markets
A couple weeks ago, I had lunch with my friend Harry and he again suggested it to me. I decided to put it at the top of my to read pile (a virtual pile) and have been reading it for the past week.
It’s a terrific book, nominally the life story of Edward Thorpe, the math professor, blackjack card counter, and hedge fund manager.
The book is a reminder that math, particularly the highly agile mathematical mind, is a very powerful thing. But it is also full of amazing insights on risk and return, from gambling to investing.
I particularly liked this observation that Edward makes after testing his “ten count” system with the the backing of some less than reputable characters:
For the second time, the Ten-Count System had shown moderately heavy losses mixed with “lucky” streaks of the most dazzling brilliance.
My person experience with investing includes plenty of moderately heavy losses and the occasional “dazzling brilliance.
I am pleased to know that pairing is common in all sorts of risk taking ventures.
If you like math, cards, and/or investing, I am sure you will enjoy this book as much as I am.