Speculating on mergers · Michael Samuels (stock trader) #ChatWithTraders

Speculating on mergers · Michael Samuels (stock trader) #ChatWithTraders

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5 Success Tips from 7-Figure Day Trader, Tim Grittani (@kroyrunner89) (@chatwithtraders)

Traders’ Opportunity · Larry Alintoff, from Wall Street Warriors #ChatWithTraders

Traders’ Opportunity · Larry Alintoff, from Wall Street Warriors #ChatWithTraders

Edward Thorp · Math genius who beat the dealer and the market

Edward Thorp · Math genius who beat the dealer and the market

EP 109: The man who beat the dealer, and later, beat the market – Edward Thorp

I’m not sure how to best say this, but Edward Thorp, is kind of a big deal…

Not only in the world of financial markets, but he’s also a household name amongst the gambling scene. He’s the man who beat the dealer, and later, beat the market.

It was during the late-50’s and early-60’s, when Ed, a math genius and professor at MIT, took on the challenge of discovering a way to get an edge playing gambling games such as blackjack, roulette and baccarat. Long story short; Ed won—and he’s now considered the father of card counting.

From there, the next obvious move for Ed was to take on financial markets—which he also did with a great degree of success. His first hedge fund, Princeton Newport Partners, achieved an annualized return of 19.1% (before fees) over a 19-year period, with 227 of 230 months being profitable—the worst monthly loss being less than 1%.