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Edward Oakley Thorp (born August 14, 1932) is an American mathematics professor, author, hedge fund manager, and blackjack researcher. He pioneered the modern applications of probability theory, including the harnessing of very small correlations for reliable financial gain.
- Key Takeaways
- The Genius of Edward Thorp: American Mathematics Professor
- The Art of Card Counting: Blackjack and Beat The Dealer
- The First Wearable Computer: A Collaboration with Claude Shannon
- From The Casino Floor to Wall Street: Hedge Fund History
- Real Estate Cautionary Tale: Lessons Learned from Thorp’s Ventures
- A Life of Science and Risk: Ed Thorp’s Legacy
- Who Is Edward Thorp?
- What Is Edward Thorp Famous for?
- How Did Edward Thorp Beat The Stock Market?
Edward Thorpis acknowledged for his applications of probability theory to gambling and finance, revolutionizing blackjack with his card counting system and influencing the investment world with his...His book ‘Beat the Dealer’ detailed his card counting system, leading to widespread changes in casino practices due to its effectiveness, and such strategies are still a part of blackjack today.Thorp’s transition from academia to finance showcases his versatile application of mathematical principles, resulting in the creation of the first market-neutral hedge fund and the pioneering of co...Ed Thorp has one of the best track records in the hedge fund business.Edward, an American mathematics professor born in Chicago on August 14, 1932, gained fame for his revolutionary use of probability theory. From early childhood, Thorp showed a profound interest in science by conducting experiments and embracing amateur radio operations when he was only twelve years old. This curiosity laid the groundwork for his fu...
Thorp revolutionized the gambling arena by applying his mathematical prowess to blackjack, forever altering the game. He ingeniously developed a card counting system that harnessed the computational capabilities of an IBM 704 to run extensive simulations on blackjack hands—a cutting-edge application of computer technology in gambling at that time. ...
Thorp continued to push the envelope beyond blackjack, joining forces with Claude Shannon—renowned as the ‘Father of Information Theory’—to develop what would be recognized as history’s first wearable computer. Its purpose was bold: to forecast the results in roulette games. Ingeniously compact, this device could fit inside a cigarette packet and b...
Thorp turned his attention from casinos to the equally competitive world of Wall Street. His questioning nature, which he directed toward gambling industry assertions, also made him skeptical about widely held notions within financial markets. Utilizing analytical abilities sharpened through gambling experiences, Thorp formulated investment strateg...
Thorp expanded his activities from blackjack and Wall Street into the real estate sector, highlighting the importance of a long-term perspective and cautioning against speculative investment tactics that, while potentially profitable in the short term, contain concealed dangers. Much like his strategies elsewhere, his approach to investing in prope...
Edward Thorp, through his mastery of probability theory, fundamentally altered the perception of risk and likelihood in both gambling and financial industries. His notable achievements include: 1. The pivotal role he played in developing the Black-Scholes option pricing model which not only made a lasting impact on economic theories but also laid g...
Edward Oakley Thorp was born on August 14, 1932, in Chicago, Illinois. Renowned for his innovative use of probability theory and contributions to game theory, Thorp has made significant waves in both the finance and gambling sectors. By demonstrating through mathematical evidence that card counting can reduce and overcome blackjack’s house edge suc...
Edward Thorp is famous for beating the casino in blackjack, his success in the hedge fund business, and his mathematical contributions. We can also add that he is famous for looking 20 years younger than his age. Edward Thorp has left an indelible mark on probability theory with groundbreaking achievements such as: 1. Exploiting minuscule correlati...
Edward Thorp beat the stock market by applying statics and backtests to find solid trading strategies. Thorp outperformed the stock market by leveraging arbitrage opportunities, which was a cutting-edge strategy when he introduced it in his 1967 publication. He developed an equation similar to the Black-Scholes model, though it didn’t incorporate t...
Feb 3, 2017 · Thorp, a sprightly 84-year-old, is uniquely placed to judge. A mathematical prodigy, he worked out how to “beat the dealer” at blackjack while a postdoctoral student at MIT. After he published a...
- John Authers
Oct 13, 2023 · Edward Thorp, a wizard of mathematics, crafted the first card counting system for blackjack, a game traditionally left to the whims of chance. But to Thorp, it was a tantalizing mathematical puzzle begging to be solved. His system was straightforward yet groundbreaking.
- 94 min
Edward O. Thorp is an American mathematics professor, hedge fund manager, and blackjack player. To beat roulette, he and the father of information theory, Claude Shannon, invented the first wearable computer.
Feb 17, 2017 · Ed Thorp invented blackjack card counting and started one of the first hedge funds. In a new book, he looks back on his career.
Edward O. Thorp is an American mathematics professor, hedge fund manager, and blackjack player. To beat roulette, he and the father of information theory, Claude Shannon, invented the first wearable computer.
