In this engaging conversation, Ed Thorp, a trailblazing mathematician and investor, shares his thrilling journey from the blackjack tables to Wall Street. He discusses his revolutionary mathematical principles that reshaped risk management in finance. Thorp reflects on the lessons learned from the Great Depression and advocates for independent thinking in gambling and investing. With anecdotes revealing the pitfalls of wealth, he emphasizes the value of personal relationships and experiences over materialism, offering profound insights into fulfillment and happiness.

Legendary self-made man Ed Thorp shares his upbringing during the Great Depression, mischievous pranks, and journey from gambling to Wall Street. He discusses developing a successful blackjack strategy, the importance of risk management, achieving stable returns through hedged securities, and navigating investment challenges. Ed also talks about the writing process, defying the odds, investments, call options, and pursuing happiness over wealth.

This podcast features past guests like Ed Thorp, Richard Thaler, Jeremy Grantham, and more discussing the challenges and benefits of diversified portfolios during market downturns, analyzing asset allocation performance against the S&P 500, and exploring strategies for global diversification and risk management in investing.