Edward Thorp Books on Card Counting and More

Edward Thorp is a renowned mathematician and gambler who has made significant contributions to the field of card counting. He is best known for developing the first practical card counting system.

Thorp's book "Beat the Dealer" is a classic in the field of card counting. First published in 1962, it introduced the concept of card counting to a wide audience.

In "Beat the Dealer", Thorp explains his system, known as the "Ten Count" system, which involves tracking the number of high and low cards that have been played to gain an edge in blackjack.

Thorp's work has had a lasting impact on the world of gaming, and his books continue to be popular among gamblers and mathematicians alike.

For another approach, see: Edward Thorp Net Worth

Edward Thorp used the IBM 704 as a research tool to investigate the probabilities of winning while developing his blackjack game theory.

Thorp analyzed the game of blackjack extensively, devising card counting schemes with the aid of the IBM 704 to improve his odds, especially near the end of a card deck that is not being reshuffled after every deal.

He learned Fortran to program the equations needed for his theoretical research model on the probabilities of winning at blackjack.

Thorp's theory was tested in practice in Reno, Lake Tahoe, and Las Vegas, Nevada, where he won $11,000 in a single weekend.

Casinos now shuffle long before the end of the deck is reached as a countermeasure to his methods.

Thorp frequently used disguises such as wraparound glasses and false beards during his Las Vegas casino visits.

He wrote the book Beat the Dealer in 1962, widely considered the original guide to card counting, which sold over 700,000 copies.

The book earned a place in the New York Times bestseller list, much to the chagrin of Manny Kimmel, whose identity was thinly disguised in the book as Mr. X.

Thorp's blackjack research is one of the few examples where results from such research reached the public directly, completely bypassing the usual academic peer review process cycle.

He considered the whole experiment an academic exercise.

Thorp's team's roulette play was the first instance of using a wearable computer in a casino, which is now illegal as of May 30, 1985.

Edward Thorp's work in the stock market is a fascinating topic. He used his knowledge of probability and statistics to discover and exploit pricing anomalies in the securities markets, making a significant fortune.

Thorp's first hedge fund, Princeton/Newport Partners, was based on Market Neutral Derivatives Hedging and ran from 1969 to 1989. He later started Ridgeline Partners in 1994, which used statistical arbitrage strategies.

Thorp's personal investments yielded an impressive 20 percent annualized rate of return over 28.5 years, as reported in 1998. This is a remarkable feat that showcases his expertise in the field.

Thorp was an early skeptic of Bernie Madoff's investing returns, which were later proven to be fraudulent in 2008.

Edward Thorp has written a total of 6 non-fiction books, with his first book, "Beat the Dealer: A Winning Strategy for the Game of Twenty-One", being released in 1966. This book was a groundbreaking work that showcased Thorp's expertise in mathematics and probability.

Thorp's other notable books include "Beat the Market: A Scientific Stock Market System" and "The Mathematics of Gambling", both of which demonstrate his ability to apply mathematical principles to real-world problems. "Beat the Market" was published in 1967 and described Thorp's arbitraging system, which relied on price differences between two correlated commodities.

Thorp's books have been widely read and appreciated, with "A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market" receiving an average rating of 4.24 stars from over 7,000 readers. Here is a list of Edward Thorp's books in publication order:

Thorp's writing style is characterized by his ability to explain complex mathematical concepts in an accessible way, making his books a valuable resource for readers interested in mathematics, probability, and finance.

Investing in the stock market can be a daunting task, but Edward Thorp's books offer valuable insights to help you make informed decisions.

The key to successful investing is to have a solid understanding of the underlying mathematics, as demonstrated by Thorp's work in "Beat the Dealer."

It's essential to have a long-term perspective, as Thorp's 1960s-era investments in the stock market show.

Thorp's use of computer simulations to analyze and optimize investment strategies is a valuable lesson for any investor.

Don't be afraid to take calculated risks, as Thorp's high-stakes bets on the stock market demonstrate.

Thorp's emphasis on diversification is a crucial lesson for investors, as seen in his discussion of the benefits of investing in a mix of stocks and bonds.

The importance of staying informed and adaptable cannot be overstated, as Thorp's experiences with changing market conditions illustrate.

Thorp's use of probability and statistics to analyze market trends is a powerful tool for investors.

Having a clear understanding of your investment goals and risk tolerance is essential, as Thorp's discussion of the importance of setting clear objectives shows.

Thorp's approach to value investing emphasizes the importance of finding undervalued assets.

Investing in a wide range of assets can help spread risk, as Thorp's discussion of the benefits of diversification demonstrates.

Thorp's emphasis on continuous learning and improvement is a valuable lesson for investors of all levels.

For your interest: Stock Order Book