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We Study Billionaires - The Investor’s Podcast Network
TIP128: Edward Thorp - Investing Legend, Math Genius (Business Podcast)
Mar 4, 2017
Edward Thorp, investing legend and math genius, shares insights on beating Blackjack, achieving a 20% annual return, sizing positions, and playing bridge with Buffett. He also discusses transitioning from gambling to investing, longevity tips, and the importance of risk management in investing.
33:48
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Quick takeaways
- Edward Thorpe pioneered card counting for blackjack and developed a wearable computer for predicting roulette outcomes.
- Thorpe's trading success with options and derivatives led to consistent profits for 29 years, emphasizing optimal position sizing strategies.
Deep dives
Edward Thorpe's Innovations: Card Counting and Wearable Computer
Edward Thorpe, a legendary figure, innovated card counting for blackjack which led to his publication of 'Beat the Dealer' in 1962. He also created the first wearable computer at MIT to predict roulette outcomes using Newtonian physics, showcasing his groundbreaking inventions that influenced gambling strategies.
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Discover
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