109: Edward Thorp – The Man Who Beat the Dealer, and Later, Beat the Market
Chat With Traders
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How a Mathematics Professor Become Curious About Blackjack
When he was a kid growing up in high school, I was left on my own a lot. My parents were working in defense or in that case, war industries. And so when I came across situations later in life, I often looked at them for a fresh viewpoint. For example, there was a way to play Blackjack published in a statistics journal That would give you not quite an edge, but you come pretty close. You're just a manager only was less than 1%. So I said, well, I don't know anything about gambling, but I'll risk $10 to see what happens.
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