{"product_id":"fortunes-formula-the-untold-story-of-the-scientific-betting-system-that-beat-the-casinos-and-wall-street-expanded-20th-anniversary-edition-paperback","title":"Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street (Expanded 20th Anniversary Edition) - Paperback","description":"\u003cdiv\u003e\u003cp style=\"text-align: right;\"\u003e\u003ca href=\"https:\/\/reportcopyrightinfringement.com\/\" target=\"_blank\" rel=\"nofollow\"\u003e\u003cb\u003eReport copyright infringement\u003c\/b\u003e\u003c\/a\u003e\u003c\/p\u003e\u003c\/div\u003e\u003cp\u003eby \u003cb\u003eWilliam Poundstone\u003c\/b\u003e (Author)\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eAn updated edition of the classic book that introduced the world to the controversial money-making formula known as the Kelly system.\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003eIn 1956, two Bell Labs scientists discovered the scientific formula for getting rich. One was the mathematician Claude Shannon, neurotic father of our digital age, whose genius is ranked with Einstein's. The other was John L. Kelly Jr., a Texas-born, gun-toting physicist. Together they applied the science of information theory--the basis of computers and the internet--to the problem of making as much money as possible, as fast as possible. \u003cp\u003e\u003c\/p\u003eShannon and the MIT mathematician Edward O. Thorp took the \"Kelly formula\" to Las Vegas. It worked. They realized that there was even more money to be made in the stock market. Thorp used the Kelly system with his phenomenally successful hedge fund, Princeton-Newport Partners. Shannon became a successful investor, too, topping even Warren Buffett's rate of return. \u003ci\u003eFortune's Formula \u003c\/i\u003etraces how the Kelly formula sparked controversy even as it made fortunes at racetracks, casinos, and trading desks. It reveals the dark side of this alluring scheme, which is founded on exploiting an insider's edge. \u003cp\u003e\u003c\/p\u003eFeaturing a new preface and sixty pages of new material, this 20th anniversary edition of William Poundstone's classic book is the definitive account of the betting system that forever changed our understanding of risk-taking.\u003ch3\u003eAuthor Biography\u003c\/h3\u003e\u003cp\u003e\u003cb\u003eWilliam Poundstone\u003c\/b\u003e is the author of more than a dozen books and has contributed to \u003ci\u003eThe New York Times\u003c\/i\u003e, \u003ci\u003eThe Economist\u003c\/i\u003e, \u003ci\u003eHarper's\u003c\/i\u003e, \u003ci\u003eHarvard Business Review\u003c\/i\u003e, and other publications. After studying physics at MIT, Poundstone forged a career delving into the social implications of scientific concepts, covering topics ranging from the prisoner's dilemma to the psychology of prices. He lives in Los Angeles.\u003c\/p\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 480\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 1.1 x 8.2 x 5.2 IN\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e December 09, 2025\u003c\/div\u003e\n            ","brand":"BooksCloud","offers":[{"title":"Default Title","offer_id":49147357528316,"sku":"9781250391124","price":35.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0002\/8344\/3259\/files\/fnoKiTr1AK9781250391124.webp?v=1780167846","url":"https:\/\/howardimports.myshopify.com\/products\/fortunes-formula-the-untold-story-of-the-scientific-betting-system-that-beat-the-casinos-and-wall-street-expanded-20th-anniversary-edition-paperback","provider":"Zyayre","version":"1.0","type":"link"}