Interesting New Book...
  • Fortune's Formula :
    The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street by William Poundstone (400 pages)...

    about $18.00 at www.amazon.com

    In 1961, MIT mathematics professor Ed Thorp made a small Vegas fortune by "counting cards"; his 1962 bestseller, Beat the Dealer, made the phrase a household word. With Claude Shannon, the father of information theory, Thorp next conquered the roulette tables. In this prosaic but fascinating cultural history, Poundstone (How Would You Move Mt. Fuji?) tells not only what they did but how they did it.
    For roulette, Poundstone shows, Thorp and Shannon used a betting scheme invented by Shannon's Bell Labs colleague John Kelly, eventually applying Kelly's technique to investing, resulting in long-term records of extraordinary return with low risk. (Thorp revealed the secret in 1966's Beat the Market, but investors proved harder to persuade than blackjack players.)
    Many other characters figure into Poundstone's entertaining saga: a forgotten French mathematician, two Nobel Prize–winning economists who declared war on the Kelly criterion, Rudy Giuliani, assorted mobsters, and winners and losers in all types of investing and gambling games.
    The subtitle is not a tease: the book explains and analyzes Kelly's system for turning small advantages into great wealth. The system works, but requires unusual amounts of patience, discipline and courage.
  • That book sounds right up my street, it goes in my "To buy List" :D
    Also I got this book several months ago that I would recomend, Its a fascinating read:
    Money-spinners: How Professional Gamblers Beat the Casinos at Their Own Game by Jacques Black
    http://www.amazon.co.uk/exec/obidos/ASIN/1901982076/qid=1131660816/sr=1-3/ref=sr_1_8_3/202-0397597-9497450

    Take care and be lucky with your battles at the green baize

    Cheers :wink:

    Colin
  • Also definitely enjoyed "Blackbelt In Blackjack" by Arnold Snyder (2005 Edition)...
    And "Burning The Tables In Las Vegas" by Ian Andersen (2003 Edition with Foreward by "Standford Wong" aka John Fienstein of La Jolla, CA)...
    And "Blackjack Bluebook II" by Fred Renzey (2003 Edition).
  • "Blackjack Bluebook II" by Fred Renzey
    is my bible, learned more from that book about blackjack than any other 2-3 books put together.
    Take care and be lucky with your battles at the green baize

    Cheers :wink:

    Colin

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