))
#2 Ed Thorp - A Man For All Markets - Absolute Thriller!
Manage episode 486532811 series 3666806
Deeply Driven Podcast and Deeply Driven Podcast | Insights into Business History에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Deeply Driven Podcast and Deeply Driven Podcast | Insights into Business History 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
In this episode, we dive deep into the remarkable life and mind of Edward O. Thorp, the mathematician, investor, and author behind the classic autobiography A Man for All Markets. Thorp’s story reads like a financial thriller—complete with wearable computers, Las Vegas takedowns, Wall Street innovation, and a lifetime of thinking independently against the grain.
From his earliest memories during the Great Depression, Thorp displayed traits that would shape his career: intellectual curiosity, self-reliance, and an unrelenting drive to test conventional wisdom. As a boy, he taught himself math and science, created at home laboratories, and devoured literature—often finding refuge in books while navigating a fractured family life. These formative experiences built the foundation for a lifelong obsession with experimentation, data, and learning by doing.
Thorp’s breakthrough came when he used self-built computer simulations to beat blackjack. His strategy, later published in the seminal book Beat the Dealer, stunned casinos and revolutionized the gambling world. Working alongside legendary mathematician Claude Shannon, Thorp also created the world’s first wearable computer to gain an edge at roulette—decades ahead of the tech curve.
But Thorp’s real triumph came when he turned his mathematical prowess to Wall Street. Frustrated with dishonest casinos and rigged games, he began studying the stock market, searching for edges hidden in plain sight. He pioneered quantitative investing long before it became mainstream—hedging convertible bonds and warrants with mathematical precision. This strategy formed the basis for his first investment fund, Princeton/Newport Partners, which delivered exceptional, market-beating returns for nearly two decades with minimal risk.
Thorp was also a shrewd judge of character and ideas. He foresaw the rise of Warren Buffett and invested early in Berkshire Hathaway. Later, he would uncover the dangers of Bernie Madoff’s too-good-to-be-true fund long before it collapsed. He wasn’t just a numbers guy—he was a principled thinker who sought fairness, integrity, and long-term outcomes.
What makes Thorp's story so compelling isn’t just his intellectual feats, but how he used his gifts with humility and purpose. He avoided the greed and ego traps that often accompany success. He valued health, family, and ethics just as much as financial returns. His decision-making framework—questioning everything, verifying for yourself, and never accepting dogma—offers timeless lessons for entrepreneurs, investors, and thinkers alike.
Whether you’re a fan of finance, probability, entrepreneurship, or simply the power of unconventional thinking, this episode reveals how Edward Thorp mastered both life and markets by relying on reason, research, and relentless curiosity. His journey proves that with the right mindset, we can beat the odds—no matter the game.
Tune in to learn:
- How Thorp used math to beat blackjack and roulette
- Why wearable computers and Las Vegas collusion made headlines
- The origins of quantitative hedge funds
- The management lessons that built Princeton/Newport’s culture
- His early recognition of Warren Buffett and warning on Bernie Madoff
- The life principles that powered his success—and how they still apply today
A brilliant mind. A humble life. An unforgettable story.
Ed Thorp Podcast Referenced - Excellent LISTEN
https://open.spotify.com/episode/22qcWWLSZheEysQEbjkUKs?si=ZN2NDt62S3yYm6SOepei7Q
Referenced Books
A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market
Sam Walton: Made In America
Grinding It Out: The Making of McDonald's
Beat the Dealer: A Winning Strategy for the Game of Twenty-One
Beat the Market: A Scientific Stock Market System
Becoming Trader Joe: How I Did Business My Way and Still Beat the Big Guys
If you enjoyed this episode, please leave us a review. It would greatly help the show and we thank you in advance for all your tremendous support.
Deeply Driven Newsletter
Deeply Driven Website
X
Deeply Driven (@DeeplyDrivenOne) / X
Substack
https://larryslearning.substack.com/
Thanks for listening friends!
16 에피소드
공유
