William Poundstone – författare
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In 1956, two Bell Labs scientists discovered the scientific formula for getting rich. One was mathematician Claude Shannon, neurotic father of our digital age, whose genius is ranked with Einstein''s. The other was John L. Kelly Jr., a Texas-born, gun-toting physicist. Together they applied the science of information theory—the basis of computers and the Internet—to the problem of making as much money as possible, as fast as possible.Shannon and MIT mathematician Edward O. Thorp took the "Kelly formula" to Las Vegas. It worked. They realized that there was even more money to be made in the stock market. Thorp used the Kelly system with his phenomenally successful hedge fund, Princeton-Newport Partners. Shannon became a successful investor, too, topping even Warren Buffett''s rate of return. Fortune''s Formula traces how the Kelly formula sparked controversy even as it made fortunes at racetracks, casinos, and trading desks. It reveals the dark side of this alluring scheme, which is founded on exploiting an insider''s edge.Shannon believed it was possible for a smart investor to beat the market—and William Poundstone''s Fortune''s Formula will convince you that he was right.
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In 1956 two Bell Labs scientists discovered the scientific formula for getting rich. One was mathematician Claude Shannon, neurotic father of our digital age, whose genius is ranked with Einstein''s. The other was John L. Kelly Jr., a Texas-born, gun-toting physicist. Together they applied the science of information theory—the basis of computers and the Internet—to the problem of making as much money as possible, as fast as possible.Shannon and MIT mathematician Edward O. Thorp took the "Kelly formula" to Las Vegas. It worked. They realized that there was even more money to be made in the stock market. Thorp used the Kelly system with his phenomenonally successful hedge fund, Princeton-Newport Partners. Shannon became a successful investor, too, topping even Warren Buffett''s rate of return. Fortune''s Formula traces how the Kelly formula sparked controversy even as it made fortunes at racetracks, casinos, and trading desks. It reveals the dark side of this alluring scheme, which is founded on exploiting an insider''s edge.Shannon believed it was possible for a smart investor to beat the market—and William Poundstone''s Fortune''s Formula will convince you that he was right.
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Uncover the Hidden Psychology of Value and Master the Art of Pricing StrategyIn Priceless, bestselling author William Poundstone reveals the hidden psychology of value. Drawing from psychological experiments, Poundstone shows how people are unable to accurately estimate "fair" prices and are strongly influenced by unconscious, irrational, and politically incorrect factors. Marketers have quickly applied these findings, with "price consultants" advising retailers on how to convince consumers to pay more for less, and negotiation coaches offering similar advice for businesspeople cutting deals.The new psychology of price dictates the design of price tags, menus, rebates, "sale" ads, cell phone plans, supermarket aisles, real estate offers, wage packages, tort demands, and corporate buyouts. Prices are the most pervasive hidden persuaders of all. Rooted in the emerging field of behavioral decision theory, Priceless is an indispensable guide for anyone who negotiates, from consumers to entrepreneurs to corporate executives. Uncover the secrets behind pricing strategies and gain a valuable edge in any negotiation or market transaction.
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