"For thousands of years, people have wondered might there be other life out there, like us, and for the first time, we’re on the verge of starting to answer those ancient questions."
Edward Thorp, whose varied career has included stints as a mathematics professor and hedge fund manager, became a New York Times bestselling author in 1962 with his first book, Beat the Dealer. The book contained mathematical proof that you could do the seemingly impossible: beat the house at blackjack by counting cards. He also built a machine that predicted the results of a roulette wheel.
Thorp was one of the earliest quantitative investors and ran the successful hedge fund Princeton Newport Partners from 1974 to the early 1990s. In this video, he shares some of the lessons he learnt early on in finance as well as observations on financial crises and regulation.