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Bill Freehling
Bill Freehling
Articles 

Ed Thorp's Genius Detailed In Scott Patterson's 'The Quants'

February 05, 2010

About the author:

Bill Freehling
Bill Freehling
For gurufocus.com
[email protected]

Rating: 3.6/5 (25 votes)

Comments

Textex
Textex - 6 years ago
If you think Bernie ran a scam, you should check out Rich DeVos and Amway.


Amway is a scam, and here's why: Amway pays out as little money as they can get away with, so they support the higher level IBOs ripping off their downline via the tool scam.


As a result, about 99% of IBOs operate at a net loss, while the top 1% make several TIMES more from their Amway tool scam than from the Amway products.


Read about it on my blog, I suggest you start here: http://tiny.cc/D5oJh and forward the information to everyone you know, so they don't get scammed.
jim macinnes
Jim macinnes - 6 years ago
Enjoyed your article about Ed Thorp. I took every finance course from him that I could during the early 80's at UC Irvine business school. I have his books as well. We had a lot of laughs talking about how they escorted him out of the casino's when he was counting cards and how he used binoculars to oversee the market maker's trade book at the exhanges. He also introduced us to Warren Buffett and we studied Buffett's investment track record during several of our classes. He is a great guy and surely one of the first and most successful quants.
expectingrain
Expectingrain - 6 years ago
Textex- they claim $8b in revenue and 3MM distributors. This comes out to about $2600 per distributor in *revenue* per year. Not exactly a lucrative business.

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