“There were many at Bell Labs and MIT who compared Shannon's insight to Einstein's. Others found that comparison unfair - unfair to Shannon.”
Quote by William Poundstone
Work
Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
This book delves into the development and application of a sophisticated betting strategy, revealing its effectiveness in both gambling and financial markets. more
Author
William Poundstone
William Poundstone, born on March 29, 1955, is a renowned American author. His works span across various fields such as psychology, mathematics, and economics, and he is appreciated for his engaging writing style and insightful perspectives. more
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“Shannon's most radical insight was that meaning was irrelevant.”
“In real conversations, we are always trying to outguess each other.”
Source: Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
Source: Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
Source: Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
Source: Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
“A bit is worth 10,000 basis points.”
Source: Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
“Kelly was aware that there is one type of favorable bet available to everyone; the stock market.”
Source: Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
“The story of the Kelly system is a story of secrets - or if you prefer, a story of entropy.”
Source: Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
Source: Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
Source: Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street