#92 Ed Thorp and Claude Shannon

Much useful thought and data collection has supported the idea that neither securities markets nor bedding systems prevent some venturers from gaining highly satisfactory Way above average results. Through unusual skill. William Poundstone's book, Fortune's Formula, collects much of the modern evidence on this point. in a highly entertaining way.

Moreover, the book contains an account. of the Lalapalooza investment record. Of Claude Shannon. Pioneer scientist in information theory. That makes Shannon's methods.

look much like those of Charlie Munger. Okay, so a few weeks ago when I was reading through Poor Charlie's almanac. I came across that paragraph. Charlie Munger is one of the smartest people I've ever come across, so when he recommends reading a book, it's kind of a no brainer to just order it immediately. Uh so the the the full title of the book is Fortune's Formula, the untold story of the scientific betting system that beat the casinos and Wall Street.

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