‘The Quants’: It Pays To Know Your Wall Street Math
A radio interview with blackjack guru and original quant Ed Thorp.I found his discussion on the prediction of one time events interesting.
In 1962, Ed Thorp became every gambler’s favorite mathematician when he published the first mathematically proven method for beating the dealer at blackjack.
Thorp’s work revolutionized the game. But he went further: In 1967, Thorp devised a system that uses math and computers to predict the future of the stock market. His hedge funds and his personal portfolio have been profitable ever since.