Cover of Fortune's Formula

Fortune's Formula

The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street

by William Poundstone

2005 400 pages eng ★ 4.3 (6 ratings)

This book is about Kelly's criterion developed in 1956 by two scientists (John Kelly Jr. and Claude Shannon) at Bell Labs for the transmission of information over copper wires but who immediately realized its application to gaming and investing. Many more professional gamblers used the formula than …

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