Money and Finance
From the book Hedge Fund Market Wizards:
Jack Schwager: What do you think is the biggest mistake people make in the markets?
Ed Thorp: Looking to outside sources for guidance in their positions. The belief that you can watch CNBC and get useful advice is very misguided. You really have to formulate your own opinion and not rely on so-called experts.
- Opalesque.tv Interviews Jack Schwager
Link to interview: Schwager sums up key lessons of Market Wizards series, starts global search for ‘undiscovered traders'In this Opalesque.TV video interview, we interview bestselling author Jack Schwager on his most recent book, "The Little Book...
- Ed Thorp Quote
“If you have a really strong conviction about your edge, then the best thing to do is sit there and take your lumps. If, however, you believe there is a reasonable chance that you might not have an edge, then you better have a safety mechanism that...
- Ed Thorp, Jack Schwager, And The Kelly Criterion
Excerpt from Jack Schwager’s interview with Ed Thorp in the book Hedge Fund Market Wizards: The Kelly criterion is the fraction of capital to wager to maximize compounded growth of capital. Even when there is an edge, beyond some threshold, larger bets...
- Ray Dalio Quote
“The biggest mistake investors make is to believe that what happened in the recent past is likely to persist.” –Ray Dalio (as quoted in Hedge Fund Market Wizards) ...
- Old Pros Size Up The Game
WSJ interview with Ed Thorp and Bill Gross.-WSJ: What can your blackjack strategy tell us about how to manage risk in today's markets?- Mr. Thorp: You have to make sure that you don't over-bet. Suppose you have a 5% edge over your opponent when...
Money and Finance
Ed Thorp quote
From the book Hedge Fund Market Wizards:
Jack Schwager: What do you think is the biggest mistake people make in the markets?
Ed Thorp: Looking to outside sources for guidance in their positions. The belief that you can watch CNBC and get useful advice is very misguided. You really have to formulate your own opinion and not rely on so-called experts.
- Opalesque.tv Interviews Jack Schwager
Link to interview: Schwager sums up key lessons of Market Wizards series, starts global search for ‘undiscovered traders'In this Opalesque.TV video interview, we interview bestselling author Jack Schwager on his most recent book, "The Little Book...
- Ed Thorp Quote
“If you have a really strong conviction about your edge, then the best thing to do is sit there and take your lumps. If, however, you believe there is a reasonable chance that you might not have an edge, then you better have a safety mechanism that...
- Ed Thorp, Jack Schwager, And The Kelly Criterion
Excerpt from Jack Schwager’s interview with Ed Thorp in the book Hedge Fund Market Wizards: The Kelly criterion is the fraction of capital to wager to maximize compounded growth of capital. Even when there is an edge, beyond some threshold, larger bets...
- Ray Dalio Quote
“The biggest mistake investors make is to believe that what happened in the recent past is likely to persist.” –Ray Dalio (as quoted in Hedge Fund Market Wizards) ...
- Old Pros Size Up The Game
WSJ interview with Ed Thorp and Bill Gross.-WSJ: What can your blackjack strategy tell us about how to manage risk in today's markets?- Mr. Thorp: You have to make sure that you don't over-bet. Suppose you have a 5% edge over your opponent when...