Author:
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ISBN:
Category : Book collecting
Languages : en
Pages : 780

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Author: William Poundstone
Publisher: Hill and Wang
ISBN: 0374707081
Category : Business & Economics
Languages : en
Pages : 399

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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.

Author: John Bonner
Publisher:
ISBN:
Category : American periodicals
Languages : en
Pages : 868

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Author: Andrew Carnegie
Publisher: Gray Rabbit Publishing
ISBN: 9781515400387
Category : Social Science
Languages : en
Pages : 34

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Before the 99% occupied Wall Street... Before the concept of social justice had impinged on the social conscience... Before the social safety net had even been conceived... By the turn of the 20th Century, the era of the robber barons, Andrew Carnegie (1835-1919) had already accumulated a staggeringly large fortune; he was one of the wealthiest people on the globe. He guaranteed his position as one of the wealthiest men ever when he sold his steel business to create the United States Steel Corporation. Following that sale, he spent his last 18 years, he gave away nearly 90% of his fortune to charities, foundations, and universities. His charitable efforts actually started far earlier. At the age of 33, he wrote a memo to himself, noting ..".The amassing of wealth is one of the worse species of idolatry. No idol more debasing than the worship of money." In 1881, he gave a library to his hometown of Dunfermline, Scotland. In 1889, he spelled out his belief that the rich should use their wealth to help enrich society, in an article called "The Gospel of Wealth" this book. Carnegie writes that the best way of dealing with wealth inequality is for the wealthy to redistribute their surplus means in a responsible and thoughtful manner, arguing that surplus wealth produces the greatest net benefit to society when it is administered carefully by the wealthy. He also argues against extravagance, irresponsible spending, or self-indulgence, instead promoting the administration of capital during one's lifetime toward the cause of reducing the stratification between the rich and poor. Though written more than a century ago, Carnegie's words still ring true today, urging a better, more equitable world through greater social consciousness.

Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 920

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Author: William Dean Howells
Publisher: Jazzybee Verlag
ISBN: 3849657493
Category : Fiction
Languages : en
Pages : 546

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No one can complain that in this story Mr. Howells has taken his type from the commonplace. It is a study of life in New York, and the author has brought together such a gallery of odd and strongly differentiated characters as could perhaps be found in no other city on the continent, while the conditions and phases of social life represented are not less distinctive and peculiar. The Marches, it is true, are from Boston, but they serve the purpose of external points of observation, whence to note and sufficiently to emphasize those features of our city life which of necessity strike strangers and outsiders most forcibly and with the greatest freshness of suggestion. A new magazine is founded with the money of old Dryfoos, a "natural gas millionaire," whose primary object is to give his son Conrad — a youth of saint-like character and dominant altruism — opportunity to become a businessman. The prime mover of the venture is Fulkerson, a true Western Yankee, if the phrase be allowable, whose engaging impudence, fluent slang, indomitable assurance, and substantial loyalty and goodness of heart are sure to make him as great a favorite with the reader as he is with all who know him in the story. The Marches, too, are fantastic, and nowhere has Mr. Howells better presented that peculiar American humor which finds motives for half-sarcastic jest and quip in even the most serious things, less out of lightness of heart than from an almost desperate conscious ness of hopeless incongruities and perplexities inherent in the general scheme. The picture is in itself a condemnation of and protest against that rank growth of naked materialism which is the most depressing feature of our time. The character and the faults of society are shown plainly but temperately — the spirit of levity, the love of spectacle, the repugnance to serious thinking, the absence of jealousy of popular rights, constantly encroached upon, ignored and subordinated to selfish corporate or individual interests. The aspects of the city are also most graphically and admirably described in many a wandering of the Marches, and the book exhibits an amount of local study undertaken by the author which speaks well for his conscientiousness, and adds much to the charm and permanent interest of the story. There is, as we have intimated, an unwonted variety and an unwonted force in " A Hazard of New Fortunes." If it can hardly be said to have a dominant note, it is none the less a faithful and carefully elaborated study of New York life, and it presents some of the most salient characteristics of that life in a very impressive and artistic manner. Most readers will, we think, agree with us that the change in method here shown is a change for the better. Never, certainly, has Mr. Howells written more brilliantly, more clearly, more firmly, or more attractively, than in this instance. The reversion to these strong individualizations seems to have put new vigor into his hands, and he deals with the deeper tragedies, the graver emotions of life, with a power which may perhaps be regarded as a practical demonstration of the ultimate supremacy destined to be attained by Nature over Art ; by the true over the false Realism.

Author: Arthur T. Vanderbilt, II
Publisher: Harper Collins
ISBN: 0062288377
Category : Biography & Autobiography
Languages : en
Pages : 601

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Vanderbilt: the very name signifies wealth. The family patriarch, "the Commodore," built up a fortune that made him the world's richest man by 1877. Yet, less than fifty years after the Commodore's death, one of his direct descendants died penniless, and no Vanderbilt was counted among the world's richest people. Fortune's Children tells the dramatic story of all the amazingly colorful spenders who dissipated such a vast inheritance.

Author:
Publisher:
ISBN:
Category : English literature
Languages : en
Pages : 846

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Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 568

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Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 190

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The magazine that helps career moms balance their personal and professional lives.