Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street

Category: Investing
Author: William Poundstone
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by insaneirish   2019-02-02
It's been forever since I read it, but Fortune's Formula [1] is an entertaining read that goes into Shannon's investment methodology, alongside Edward Thorp [2].

[1]: [2]:

by gtrubetskoy   2017-09-04
The re-balancing system (of which dollar averaging is a variant) is described in the Fortune's Formula book [1] as something that Claude Shannon [2] would demonstrate in his lectures at MIT as a mathematically proven guaranteed winning strategy. At the end of the talk there was a Q and A, and the first question always was "do you yourself use this system", to which he replied "Naw, the commissions alone would kill you".