The main takeaway is the superiority of the kelly system for managing bankrolls whether gambling or investing. Not only discusses the kelly betting criterion, but gives a complete history of how it came about.

This book is really about mathematics and how some universal constants will show up where you least expect them while you apply mathematical analysis to a subject. It has the great advantage of being easily read and understood by someone who is not a ...  Read More

The organization of the book was a bit freestyle. The eleven-page bibliography is especially helpful. Also fascinating facts about rudy guliani, michael milken, ivan boesky and others.

William poundstone tells a good story and illustrates how a number of clever men found edges, pursued them, and triumphed. I rarely recommend any book without qualms, but poundstone delivers the goods so well here it's a no-brainer. I find this 386 pa...  Read More

It only talks about the very first and the most primitive rule of the binary numbers. If you're looking for something about the stock market or gambling theories in management, this is not the book for you.