Beat the Market
by Edward O. Thorp, Sheen T. Kassouf · first published 1967
3mentions
1recommended by
3HN commenters
2010–2022first – last mentioned
33% recommend67% neutral
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…trend following, etc. I personally was unconvinced but some people swear by it. 2. Fundamentals/value investing. Read the intelligent investor and security analysis. Very sound IMO. 3. Arbitrage - read "Beat the Market" by Ed Thorp. Also very sound IMO.
on “[Ask HN] How should I teach myself about investing?” ↗…not considered the "best" or even good at all. Point: That he hired "the best" has to do with what criteria one is using for goodness! By the way, in this thread there is mention of Thorpe! So, yes, his Beat the Market had in the back that some argument was from "measure theory". So, before my Ph.D., I was working carefully through Royden, Real Analysis! I was getting through the two exercises on upper and lower…
on “Renaissance Technologies” ↗…Since Thorp, Casinos have made it harder to beat them (e.g. larger decks), but they still tease the possibility you can beat them to entice people to try (and lose). Edward Thorp later went on to write Beat the Market, where he tried to apply similar probability principles to the stock market. He independently invented the options formula, before Black-Scholes (which the latter won a Nobel Prize).
on “America’s bad bet on sports gambling” ↗