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Fortune's Formula

Author : William Poundstone
Publisher : Hill and Wang
ISBN 13 : 9780374707088
Total Pages : 400 pages
Book Rating : 4.7/5 (7 download)

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Book Synopsis Fortune's Formula by : William Poundstone

Download or read book Fortune's Formula written by William Poundstone and published by Hill and Wang. This book was released on 2010-06-01 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1956, two Bell Labs scientists discovered the scientific formula for getting rich. One was 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. Shannon and 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. Fortune's Formula traces 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. Shannon believed it was possible for a smart investor to beat the market—and William Poundstone's Fortune's Formula will convince you that he was right.

The Kelly Capital Growth Investment Criterion

Author : Leonard C. MacLean
Publisher : World Scientific
ISBN 13 : 9814293490
Total Pages : 883 pages
Book Rating : 4.8/5 (142 download)

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Book Synopsis The Kelly Capital Growth Investment Criterion by : Leonard C. MacLean

Download or read book The Kelly Capital Growth Investment Criterion written by Leonard C. MacLean and published by World Scientific. This book was released on 2011 with total page 883 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume provides the definitive treatment of fortune's formula or the Kelly capital growth criterion as it is often called. The strategy is to maximize long run wealth of the investor by maximizing the period by period expected utility of wealth with a logarithmic utility function. Mathematical theorems show that only the log utility function maximizes asymptotic long run wealth and minimizes the expected time to arbitrary large goals. In general, the strategy is risky in the short term but as the number of bets increase, the Kelly bettor's wealth tends to be much larger than those with essentially different strategies. So most of the time, the Kelly bettor will have much more wealth than these other bettors but the Kelly strategy can lead to considerable losses a small percent of the time. There are ways to reduce this risk at the cost of lower expected final wealth using fractional Kelly strategies that blend the Kelly suggested wager with cash. The various classic reprinted papers and the new ones written specifically for this volume cover various aspects of the theory and practice of dynamic investing. Good and bad properties are discussed, as are fixed-mix and volatility induced growth strategies. The relationships with utility theory and the use of these ideas by great investors are featured.

Family Fortunes

Author : Bill Bonner
Publisher : John Wiley & Sons
ISBN 13 : 1118239873
Total Pages : 359 pages
Book Rating : 4.1/5 (182 download)

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Book Synopsis Family Fortunes by : Bill Bonner

Download or read book Family Fortunes written by Bill Bonner and published by John Wiley & Sons. This book was released on 2012-06-21 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt: Selected as one of Motley Fool’s “5 Great Books You Should Read” Advice on managing your wealth from bestselling author Bill Bonner From trusted New York Times bestselling author Bill Bonner comes a radical new way to look at family money and a practical, actionable guide to getting and maintaining multigenerational wealth. Family Fortunes: How to Build Family Wealth and Hold on to It for 100 Years is packed with useful information, interwoven with Bonner's stories about his own family's wealth philosophy and practices. A comprehensive guide that shows how families can successfully preserve their estates by ignoring most of what people think they know about "the rich" and, instead, training and motivating all family members to work together toward a very uncommon goal. This book is a must-read for all individual investors—even those who do not plan to leave money to their children—because it challenges many of the most ubiquitous principles and rules of investing. You might expect a book on family wealth to be extremely conservative in its outlook. Instead, the Bonners announce what is practically a revolutionary manifesto. They explain: Why family money should NOT be invested in "safe, conservative" investments Why charitable giving is usually a waste of money, or worse Why it is NOT a good idea to let children go their own way Why you can't trust wealth "professionals" and why you should never entrust your money to money managers Why giving your children as much education as possible is NOT a good idea Why Warren Buffett and the rest of the rich people asking for higher tax rates are wrong to take "the pledge" Why Wall Street is a graveyard for capital, why most celebrity CEOs are a threat to the businesses they run, why modern capitalism is a failure, and more You will come away with a very different idea as to what family wealth is all about. It is not stodgy. Not boring. Not moss-backed and reactionary. On the contrary, it is the most dynamic, forward-looking capital in the world. The essential guide to passing wealth from one generation to the next, Family Fortunes is filled with concrete, practical advice you can put to use right away.

Secret Formula

Author : Frederick Allen
Publisher : Open Road Media
ISBN 13 : 1504019830
Total Pages : 587 pages
Book Rating : 4.5/5 (4 download)

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Book Synopsis Secret Formula by : Frederick Allen

Download or read book Secret Formula written by Frederick Allen and published by Open Road Media. This book was released on 2015-10-27 with total page 587 pages. Available in PDF, EPUB and Kindle. Book excerpt: A "highly entertaining history [of] global hustling, cola wars and the marketing savvy that carved a niche for Coke in the American social psyche” (Publishers Weekly). Secret Formula follows the colorful characters who turned a relic from the patent medicine era into a company worth $80 billion. Award-winning reporter Frederick Allen’s engaging account begins with Asa Candler, a nineteenth-century pharmacist in Atlanta who secured the rights to the original Coca-Cola formula and then struggled to get the cocaine out of the recipe. After many tweaks, he finally succeeded in turning a backroom belly-wash into a thriving enterprise. In 1919, an aggressive banker named Ernest Woodruff leveraged a high-risk buyout of the Candlers and installed his son at the helm of the company. Robert Woodruff spent the next six decades guiding Coca-Cola with a single-minded determination that turned the soft drink into a part of the landscape and social fabric of America. Written with unprecedented access to Coca-Cola’s archives, as well as the inner circle and private papers of Woodruff, Allen’s captivating business biography stands as the definitive account of what it took to build America’s most iconic company and one of the world’s greatest business success stories.

Labyrinths of Reason

Author : William Poundstone
Publisher : Anchor
ISBN 13 : 030776379X
Total Pages : 288 pages
Book Rating : 4.3/5 (77 download)

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Book Synopsis Labyrinths of Reason by : William Poundstone

Download or read book Labyrinths of Reason written by William Poundstone and published by Anchor. This book was released on 2011-07-20 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: This sharply intelligent, consistently provocative book takes the reader on an astonishing, thought-provoking voyage into the realm of delightful uncertainty--a world of paradox in which logical argument leads to contradiction and common sense is seemingly rendered irrelevant.

The Great Formula

Author : Mark Joyner
Publisher : John Wiley & Sons
ISBN 13 : 0470038888
Total Pages : 256 pages
Book Rating : 4.4/5 (7 download)

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Book Synopsis The Great Formula by : Mark Joyner

Download or read book The Great Formula written by Mark Joyner and published by John Wiley & Sons. This book was released on 2006-06-30 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for THE GREAT FORMULA "This book reminds me of Isaac Newton's discovery of gravity-a stunningly simple idea that changed the course of history. I've seen The Great Formula create millionaires with surprising speed. It's an exact recipe to turn a marginal business into a successful one." —David Garfinkel, author, Customers on Demand "Mark Joyner has once again succeeded at coming up with an entertaining and educational marketing masterpiece." —Dr. Mani Sivasubramanian, infopreneur and heart surgeon "With all the fancy buzzwords used to describe how to achieve success, here is a commonsense formula that cuts through the chatter and goes straight to the heart of what really works. This is truly a new perspective." —Joseph Sugarman, Chairman, BluBlocker Corporation "Save yourself a couple hundred thousand dollars on that degree. Clear out your bookcase. The MBA curriculum for this generation is The Irresistible Offer and The Great Formula." —Lou D'Alo, PowerUp! Coaching and Consulting

Winning Every Day

Author : Lou Holtz
Publisher : Harper Collins
ISBN 13 : 0061757594
Total Pages : 244 pages
Book Rating : 4.0/5 (617 download)

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Book Synopsis Winning Every Day by : Lou Holtz

Download or read book Winning Every Day written by Lou Holtz and published by Harper Collins. This book was released on 2009-10-13 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Your talent determines what you can do. Your motivation determines how much you are willing to do. Your attitude determines how well you do it." -- Lou Holtz Meet Lou Holtz, the motivational miracle worker who revitalized the Notre Dame football program by leading the legendary Fighting Irish to nine bowl games and a national championship. During his twenty-seven years as a head football coach, Holtz garnered a 216-95-7 career record. Each new assignment brought a different team with different players, but, invariably, the same result--success. How did he do it? By designing a game plan for his players that minimized obstacles while maximizing opportunities. Now he wants to pass his game plan on to you. In Winning Every Day, you'll discover ten strategies that will drive you to the top of your professional and personal life. Coach Holtz will reveal how you can acquire the focus and commitment it takes to be a champion. It won't be easy; it takes sacrifice to be the best. But now you'll have a proven winner alongside you in the trenches. Winning Every Day demonstrates how you can elevate your performance while raising the standards of everyone around you. Follow Coach's strategies and winning becomes habitual. You will learn to welcome sacrifice as you dedicate yourself to excellence. He will show you how to clearly define your short-term and long-term goals, to develop an unwavering sense of purpose without compromising flexibility. Through it all, Coach Holtz will help you discover the courage you need to live a life of unremitting triumph. You couldn't have a better guide. He will provide you with the strategies he has shared with Fortune 500 companies, groups, and organizations. Voted the top motivational speaker two years running by a survey of speakers' bureaus, Coach is going to present you with all the Xs and Os, the basics of his game plan for success in life and business.

Fortune's Fool

Author : Fred Goodman
Publisher : Simon & Schuster
ISBN 13 : 9780743269995
Total Pages : 0 pages
Book Rating : 4.2/5 (699 download)

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Book Synopsis Fortune's Fool by : Fred Goodman

Download or read book Fortune's Fool written by Fred Goodman and published by Simon & Schuster. This book was released on 2014-10-18 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1999, when Napster made music available free online, the music industry found itself in a fight for its life. A decade later, the most important and misunderstood story—and the one with the greatest implications for both music lovers and media companies—is how the music industry has failed to remake itself. In Fortune’s Fool, Fred Goodman, the author of The Mansion on the Hill, shows how this happened by presenting the singular history of Edgar M. Bronfman Jr., the controversial heir to Seagram’s, who, after dismantling his family’s empire and fortune, made a high-stakes gamble to remake both the music industry and his own reputation. Napster had successfully blown the industry off its commercial foundations because all that the old school label heads knew how to do was record and market hits. So when Bronfman took over the Warner Music Group in 2004, his challenge was to create a new kind of record executive. Goodman finds the source of the crisis in the dissolution of the old Warner Music Group, the brilliant conglomerate of Atlantic, Elektra, and Warner Bros. Records. He shows how Doug Morris, the head of Atlantic Records, rose through the ranks and rode the CD bonanza of the 1990s to enormous corporate and personal profit before becoming embroiled in an ego-driven corporate turf war, and how all of Warner’s record executives were blindsided when AOL/Time-Warner announced in 2003 that it wanted nothing more to do with the record industry. When the music group was finally sold to Bronfman, it was a ghost of itself. Bronfman built an aggressive, streamlined team headed by Lyor Cohen, whose relentless ambition and discipline had helped build Def Jam Records. They instituted a series of daring initiatives intended to give customers legitimate online music choices and took market share from Warner’s competitors. But despite these efforts, illegal downloads still outnumber legitimate ones 19–1. Most of the talk of a new world of music and media has proven empty; despite the success of iTunes, even wildly popular sites like YouTube and MySpace have not found a way to make money with music. Instead, Warner and the other labels are diversifying and forcing young artists to give them a cut of their income from touring, publishing, and merchandising. Meanwhile, the average downloader isn’t even meeting forward-thinking musicians halfway. Each time a young band finds a following through music websites, it’s a unique story; no formula has emerged. If one does, Warner is probably in a better position than anyone to exploit it. But at the end of the day, If is the one-word verdict on Bronfman’s big bet.

The Fortunes of Astrology

Author : Robert Hurzt Granite
Publisher : ACS Publications
ISBN 13 : 9780917086274
Total Pages : 105 pages
Book Rating : 4.0/5 (862 download)

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Book Synopsis The Fortunes of Astrology by : Robert Hurzt Granite

Download or read book The Fortunes of Astrology written by Robert Hurzt Granite and published by ACS Publications. This book was released on 1981 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Competition

Author : James Case
Publisher : Hill and Wang
ISBN 13 : 1429923091
Total Pages : 372 pages
Book Rating : 4.4/5 (299 download)

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Book Synopsis Competition by : James Case

Download or read book Competition written by James Case and published by Hill and Wang. This book was released on 2008-06-24 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Mathematical Theory of Games Sheds Light On A Wide Range of Competitive Activities What do chess-playing computer programs, biological evolution, competitive sports, gambling, alternative voting systems, public auctions, corporate globalization, and class warfare have in common? All are manifestations of a new paradigm in scientific thinking, which James Case calls "the emerging science of competition." Drawing in part on the pioneering work of mathematicians such as John von Neumann, John Nash (of A Beautiful Mind fame), and Robert Axelrod, Case explores the common game-theoretical strands that tie these seemingly unrelated fields together, showing how each can be better understood in the shared light of the others. Not since James Gleick's bestselling book Chaos brought widespread public attention to the new sciences of chaos and complexity has a general-interest science book served such an eye-opening purpose. Competition will appeal to a wide range of readers, from policy wonks and futurologists to former jocks and other ordinary citizens seeking to make sense of a host of novel—and frequently controversial—issues.

The Oxford Handbook of the Sociology of Finance

Author : Karin Knorr Cetina
Publisher : OUP Oxford
ISBN 13 : 0191641340
Total Pages : 640 pages
Book Rating : 4.1/5 (916 download)

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Book Synopsis The Oxford Handbook of the Sociology of Finance by : Karin Knorr Cetina

Download or read book The Oxford Handbook of the Sociology of Finance written by Karin Knorr Cetina and published by OUP Oxford. This book was released on 2012-11-29 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent years have seen a surge of interest in the workings of financial institutions and financial markets beyond the discipline of economics, which has been accelerated by the financial crisis of the early twenty-first century. The Oxford Handbook of the Sociology of Finance brings together twenty-nine chapters, written by scholars of international repute from Europe, North America, and Asia, to provide comprehensive coverage on a variety of topics related to the role of finance in a globalized world, and its historical development. Topics include global institutions of modern finance, types of actors involved in financial transactions and supporting technologies, mortgage markets, rating agencies, and the role of financial economics. Particular attention is given to financial crises, which are discussed in a special section, as well as to alternative forms of finance, including Islamic finance and the rise of China. The Handbook will be an indispensable tool for academics, researchers, and students of contemporary finance and economic sociology, and will serve as a reference point for the expanding international community of scholars researching these areas from a broadly-defined sociological perspective.

You Can Never Be Too Rich

Author : Alan Haft
Publisher : John Wiley & Sons
ISBN 13 : 0470139781
Total Pages : 324 pages
Book Rating : 4.4/5 (71 download)

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Book Synopsis You Can Never Be Too Rich by : Alan Haft

Download or read book You Can Never Be Too Rich written by Alan Haft and published by John Wiley & Sons. This book was released on 2007-11-09 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for You Can Never Be Too Rich"Great guy, fantastic book. Ia??ve known Alan for many years, and Ia??m a richer man because of it.

Exotic Betting At The Racetrack

Author : William T Ziemba
Publisher : World Scientific
ISBN 13 : 9813278803
Total Pages : 489 pages
Book Rating : 4.8/5 (132 download)

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Book Synopsis Exotic Betting At The Racetrack by : William T Ziemba

Download or read book Exotic Betting At The Racetrack written by William T Ziemba and published by World Scientific. This book was released on 2018-12-21 with total page 489 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exotic Betting at the Racetrack is unique as it covers the efficient-inefficient strategy to price and find profitable racetrack bets, along with handicapping that provides actual bets made by the author on essentially all of the major wagers offered at US racetracks. The book starts with efficiency, accuracy of the win odds, arbitrage, and optimal betting strategies. Examples and actual bets are shown for various wagers including win, place and show, exacta, quinella, double, trifecta, superfecta, Pick 3, 4 and 6 and rainbow pick 5 and 6. There are discussions of major races including the Breeders' Cup, Pegasus, Dubai World Cup and the US Triple Crown from 2012-2018. Dosage analysis is also described and used. An additional feature concerns great horses such as the great mares Rachel Alexandra, Zenyatta, Goldikova, Treve, Beholder and Song Bird. There is a discussion of horse ownership and a tour through arguably the world's top trainer Frederico Tesio and his stables and horses in Italy.Related Link(s)

The Sacred Alignments and Sigils

Author : Robert Podgurski
Publisher : North Atlantic Books
ISBN 13 : 1623174228
Total Pages : 306 pages
Book Rating : 4.6/5 (231 download)

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Book Synopsis The Sacred Alignments and Sigils by : Robert Podgurski

Download or read book The Sacred Alignments and Sigils written by Robert Podgurski and published by North Atlantic Books. This book was released on 2019-10-29 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: A breakthrough in occult studies that combines modern sigil techniques with traditional Enochian Magick and appeals to all levels of ritual magick practitioners, explorers of consciousness, scholars, dowsers, and tantric yoga practitioners Author and magick practitioner Robert Podgurski shares his discovery and development of the Grid Sigil--a tool for exploring the mysteries of embodiment and unity that bridges Enochian Magick with Sparean sigilization. Properly constructed, it emanates the root energies of the four elements bound by spirit in the space/time continuum. This text offers readers a variety of techniques for using the Grid Sigil and is an essential guidebook for understanding the connection between Enochian Magick, geomagnetism, shamanism, and other facets of Eastern and Western esotericism. Close attention is paid to critical metaphysical thought through in-depth analysis based in science, metaphysics, philosophical speculation, and illustrations.

Problems in Portfolio Theory and the Fundamentals of Financial Decision Making

Author : Leonard C MacLean
Publisher : World Scientific Publishing Company
ISBN 13 : 9814759368
Total Pages : 212 pages
Book Rating : 4.8/5 (147 download)

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Book Synopsis Problems in Portfolio Theory and the Fundamentals of Financial Decision Making by : Leonard C MacLean

Download or read book Problems in Portfolio Theory and the Fundamentals of Financial Decision Making written by Leonard C MacLean and published by World Scientific Publishing Company. This book was released on 2016-09-29 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book consists of invaluable introductions, tutorials and problems which are helpful for teaching purposes and have a very broad appeal and usage. The problems cover many aspects of static and dynamic portfolio theory as well as other important subjects such as arbitrage and asset pricing, utility theory, stochastic dominance, risk aversion and static portfolio theory, risk measures, dynamic portfolio theory and asset allocation. This material could be used with important books that cover these topics including MacLean-Ziemba's The Handbook of the Fundamentals of Financial Decision Making, and Ziemba-Vickson's Stochastic Optimization Models in Finance.

Quantitative Financial Risk Management

Author : Constantin Zopounidis
Publisher : John Wiley & Sons
ISBN 13 : 1118738225
Total Pages : 448 pages
Book Rating : 4.1/5 (187 download)

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Book Synopsis Quantitative Financial Risk Management by : Constantin Zopounidis

Download or read book Quantitative Financial Risk Management written by Constantin Zopounidis and published by John Wiley & Sons. This book was released on 2015-06-08 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Comprehensive Guide to Quantitative Financial Risk Management Written by an international team of experts in the field, Quantitative Financial Risk Management: Theory and Practice provides an invaluable guide to the most recent and innovative research on the topics of financial risk management, portfolio management, credit risk modeling, and worldwide financial markets. This comprehensive text reviews the tools and concepts of financial management that draw on the practices of economics, accounting, statistics, econometrics, mathematics, stochastic processes, and computer science and technology. Using the information found in Quantitative Financial Risk Management can help professionals to better manage, monitor, and measure risk, especially in today's uncertain world of globalization, market volatility, and geo-political crisis. Quantitative Financial Risk Management delivers the information, tools, techniques, and most current research in the critical field of risk management. This text offers an essential guide for quantitative analysts, financial professionals, and academic scholars.

Finance with Monte Carlo

Author : Ronald W. Shonkwiler
Publisher : Springer Science & Business Media
ISBN 13 : 1461485118
Total Pages : 260 pages
Book Rating : 4.4/5 (614 download)

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Book Synopsis Finance with Monte Carlo by : Ronald W. Shonkwiler

Download or read book Finance with Monte Carlo written by Ronald W. Shonkwiler and published by Springer Science & Business Media. This book was released on 2013-09-17 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text introduces upper division undergraduate/beginning graduate students in mathematics, finance, or economics, to the core topics of a beginning course in finance/financial engineering. Particular emphasis is placed on exploiting the power of the Monte Carlo method to illustrate and explore financial principles. Monte Carlo is the uniquely appropriate tool for modeling the random factors that drive financial markets and simulating their implications. The Monte Carlo method is introduced early and it is used in conjunction with the geometric Brownian motion model (GBM) to illustrate and analyze the topics covered in the remainder of the text. Placing focus on Monte Carlo methods allows for students to travel a short road from theory to practical applications. Coverage includes investment science, mean-variance portfolio theory, option pricing principles, exotic options, option trading strategies, jump diffusion and exponential Lévy alternative models, and the Kelly criterion for maximizing investment growth. Novel features: inclusion of both portfolio theory and contingent claim analysis in a single text pricing methodology for exotic options expectation analysis of option trading strategies pricing models that transcend the Black–Scholes framework optimizing investment allocations concepts thoroughly explored through numerous simulation exercises numerous worked examples and illustrations The mathematical background required is a year and one-half course in calculus, matrix algebra covering solutions of linear systems, and a knowledge of probability including expectation, densities and the normal distribution. A refresher for these topics is presented in the Appendices. The programming background needed is how to code branching, loops and subroutines in some mathematical or general purpose language. The mathematical background required is a year and one-half course in calculus, matrix algebra covering solutions of linear systems, and a knowledge of probability including expectation, densities and the normal distribution. A refresher for these topics is presented in the Appendices. The programming background needed is how to code branching, loops and subroutines in some mathematical or general purpose language. Also by the author: (with F. Mendivil) Explorations in Monte Carlo, ©2009, ISBN: 978-0-387-87836-2; (with J. Herod) Mathematical Biology: An Introduction with Maple and Matlab, Second edition, ©2009, ISBN: 978-0-387-70983-3.