Born in the Great Depression, the legendary mathematician Edward came from a poor family. Thorpe, invented the twenty-one card counting method in 1959, to make things seem impossible. To win over the banker at the blackjack table the prototype film Decision Blackjack, Vegas sensationalism.
The industry teamed up to restrict him to casinos, and even had a lifelong worry. Finally the casino changed the rules for him. In 1960, he also worked with the master of information theory, Claude. Xia Wei teamed up to create the world’s first IoT prototype wearable computer to beat roulette.
Since then, Thorpe has turned his attention to the biggest casinos on the surface. Wall Street. In 1964, self-study stock market transactions. In 1967, the price formula for warrants was downgraded, and arbitrage in commodities containing or contingent rights such as options.
The offer of convertible bonds opens a new page for measurement finance today. Princeton hedge fund Newport Partnership PNP which he founded has performance. An average of 20 to 25% in 30 years and never to lose money. Thorpe therefore enjoys the reputation of the father of quantitative investing.
And Calculation And Became My Lifelong Habit
I did learn a lot from the casino. Most people don’t know much about risk, reward, and uncertainty. If you think about it, the investment performance will be much better. Education has changed my life. Mathematics taught me to use logic to understand numbers, tables, graphs.
Physics, chemistry, astronomy, and biology have helped me open my eyes. And it allows me to use theory to model, interpret, and predict. It is used for life in the casino and investment. Education can be compared to software in people’s minds.
Suppose we are born with a computer that contains only the most basic operating system and nothing else. And programs are big and small. From drawing graffiti faces to riding a bicycle, until you learn high calculus. We will also use this program to move towards their respective lives.
I learned a lot from school and teachers, but I learned a lot more during my self-study period. This has been a huge help in my life, because no one has ever taught me how to beat blackjack. Build a computer that predicts roulette, or develop a market-neutral hedge fund model.
I find that most people don’t understand the need for computer fees in casino games. Or in solving everyday problems. If we survive in the forest and in the forest. We don’t need this, think about what we should do next. Today we are thinking, calculating and planning the next step.
Learning itself is like adding a program to a computer
And math can help us make that decision. For example, wearing seat belts and airbags is not worth it? Suppose we want to increase the safety of 100 million vehicles, each vehicle costs $300. And a total of $30 billion is needed if the number of deaths per year in car accidents is about 50,000.
And this safety equipment can guarantee the safety of car users in the next 10 years. 50,000 people (50,000 people × 10 years) would be worth 30 billion, with an average of US$600,000 per person. Although many car manufacturers do not agree with this algorithm. Most of us are willing to spend money to protect our lives.
For an addict who smokes a pack of cigarettes a day? If you have a pack of cigarettes a day for 40 years, the average life expectancy is seven years less. Each cigarette is not only short-lived for 12 minutes, but even if it is alive.
The health of the body is also very problematic, this is the only thing we have to pay attention to, because of the cost of medical treatment in recent years. To life is higher, and cigarette smoke is indeed dangerous.
Win the Wall Street Market! God of Gambling Genius Learn Casino 02
However, these are only average figures. Some old cigarettes do not die of diseases caused by smoking, others may die young. Just like the game of roulette in the casino. Every $1 bet goes to an average loss of 5 cents, but this is also an average. Some gamblers will run away immediately and some will stay for a long time.
Many current public policies actually consider the trade-off between costs and benefits in the process. Some of the decisions are clear, spending $500,000 to save a patient with highly resistant TB. Or injecting $10,000 per flu into a flu epidemic, preventing one in a thousand (50) deaths is definitely worth it. Statistics can help us make this decision.
I think that between kindergarten and 12 year old children should learn basic probability and statistics. Analyze the probability of losing coins, dice or roulette, and train and think. Learn why casinos are always bigger, avoid gambling and control losses, and achieve entertainment. Gambling still consumes a lot of social costs, and a lot of resources. It’s spent on gamblers who can’t afford to lose. I did learn a lot from the casino. Most people don’t know much about risk, reward, and uncertainty.
I think you should learn basic financial knowledge from elementary school to high school. More and more people are learning to control checkbook costs and generate income statements. And hell for themselves, they can make better choices, like choosing a home they can afford. Under proper investment management, people’s future retirement will greatly help and reduce their dependence on society. The greatest pleasure I get from investing, finance, and economics is discovering people and society. Physics is a natural phenomenon, like the law of gravity leading to universal laws.
But iInteraction Between Humans And Each Other
Cannot be explained by widely unchanging theories, and may not exist in the future. The combination of my limited ideas and the experiences I encountered helped me to quickly make sense of the world.
One of them was Adam Smith’s free market in 1776. Adam Smith believed that in an economy with few buyers and sellers. Everyone’s goal is to advance to his or her best interests. After running the invisible hand, the importance of the whole will be the greatest. This theory is actually limited because most markets are not as perfect as Adam Smith assumed.
The reverse theory of the invisible hand is like the theory of The Tragedy of the Commons. What was proposed by Garrett Hardin in 1968, for example, is that there is an area of natural resources. Which can be used by anyone for free at least once like the sea. Can be used by anyone as an example. In the 18th century, Atlantic salmon flocked, and Franklin had noted that his ships had passed schools of squid. For a few days after the penang when the fish for two hundred years, the number of goldfish has been greatly judi casino online.
How can maximizing personal interest increase the effectiveness of society? From a global perspective, there is also the problem of pollution. Everyone can burn fossil fuels indefinitely. Creates large amounts of carbon dioxide to cause the greenhouse effect. And let the earth’s temperature rise rapidly at the end of the last century. Microparticles emitted into the air can cause lung disease and even death. But everyone who creates pollution benefits, at least more than the loss. No pressure to change it. This other unanimous view of social problems is called externalities, a vocabulary coined by economists. The so-called externality refers to the cost