Beat the Dealer, on winning blackjack, and
Beat the Market: A Scientific Stock Market System a book which describes market beating strategies.
In this interesting document in which legendary investor Ed Thorp discusses Buffett, and his expertise in playing bridge. Thorp discusses the connect between being a good bridge player and being a good investor. This might be why Buffett plays several hours of bridge a day.
Here is an excerpt from Thorp’s paper:
“Bridge players know that bridge is what mathematicians call a game of imperfect information. The bidding, which precedes the play of the cards, conveys information about the four concealed hands held by the two pairs of players that are opposing each other. Once play begins, players use information from the bidding and from the cards as they are played to deduce who holds the remaining as yet unseen cards. The stock market also is a game of imperfect information and even resembles bridge in that they
both have their deceptions and swindles. Like bridge, you do better in the market if you get more information, sooner, and put it to better use. It’s no surprise then that Buffett, arguably the greatest investor in history, is a bridge addict.”
The full document is below. For best viewing view in full screen mode.
Bridge With Buffet