It’s truly astounding to see the amount of people that Ed Thorp as well as his book Beat the dealer have influenced.
The amount of successful people in finance and other fields that mention him as an influence is not insignificant.
The amount of successful people in finance and other fields that mention him as an influence is not insignificant.
The latter would of course publish their work and go on to win the Nobel Prize in economics. So, Ed Thorpe basically gave up the Nobel Prize to make a shitton of money instead.
Amusing in a grim way - he had a trading firm, two offices.
His own in Orange County California.
East Coast office went rogue, was raided by Feds. Thorpe shut down his side right afterward.
He published some of his trading methods in "Beat The Market", about trading warrants, which were more or less options issued by the companies themselves, instead of written by third parties.
Well worth reading.