109: Edward Thorp – The Man Who Beat the Dealer, and Later, Beat the Market

109: Edward Thorp – The Man Who Beat the Dealer, and Later, Beat the Market

I’m not sure how to best say this, but Edward Thorp, is kind of a big deal… Not only in the world of financial markets, but he’s also a household name amongst the gambling scene. He’s the man who beat the dealer, and later, beat the market. It was during the late-50’s and early-60’s, when Ed, a math genius and professor at MIT, took on the challenge of discovering a way to get an edge playing gambling games such as blackjack, roulette and baccarat. Long story short; Ed won—and he’s now considered the father of card counting. From there, the next obvious move for Ed was to take on financial markets—which he also did with a great degree of success. His first hedge fund, Princeton Newport Partners, achieved an annualized return of 19.1% (before fees) over a 19-year period, with 227 of 230 months being profitable—the worst monthly loss being less than 1%. Ed’s most recent book, A Man For All Markets, is now available on Amazon. -- Sponsored by TradeStation.com – The online broker for professional market monitoring tools, an award-winning platform and low trading costs. Learn more about your ad choices. Visit megaphone.fm/adchoices

Episoder(323)

304 ·  Kyle Ng aka JadeCap - $4.5M with Process, Patience, and Prop Firms

304 · Kyle Ng aka JadeCap - $4.5M with Process, Patience, and Prop Firms

From academic struggles at SUNY Albany to holding the world record for the largest prop firm payouts—roughly $4.5 million in total, Kyle Ng a.k.a. JadeCap’s journey started out like many aspiring trad...

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303 · Chris Vermeulen - From Tick to Trend, Day Trading to Wave Riding

303 · Chris Vermeulen - From Tick to Trend, Day Trading to Wave Riding

What happens when a teenager growing up without TV in rural Canada stumbles across CNBC in a college dorm and sees people making $100,000 in a day? For Chris Vermeulen, that moment changed everything—...

23 Jul 20251h 8min

302 · Dylan Maltman - Go Where Orders Flow

302 · Dylan Maltman - Go Where Orders Flow

Dylan Maltman, an intraday futures and forex trader and founder of Apex Capital, must have had exceptional clarity starting at a young age. Introduced to the markets in a high school presentation by a...

30 Jun 20251h 11min

301 · Erik Smolinski - Trading Earnings Volatility with Options

301 · Erik Smolinski - Trading Earnings Volatility with Options

Erik Smolinski returns to Chat With Traders after his first appearance on episode 272, joining Tessa for a trader-to-trader conversation about the intricacies of options trading, a topic Erik is deepl...

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300 · Patrick Petersson - We Should Not Die as Traders

300 · Patrick Petersson - We Should Not Die as Traders

In this episode we catch up with Patrick Petersson, who returns two years after his first interview on Chat With Traders on episode 260, where he shared his incredible story of overcoming hardship to ...

28 Mai 20251h 25min

299 · Michael Martin - Intersection of Emotional Intelligence and Tactics

299 · Michael Martin - Intersection of Emotional Intelligence and Tactics

Michael Martin, raised in a hardworking blue-collar community, embraced the same ethic. An entrepreneur at heart, he hustled from cutting grass when he was 12 to working all types of jobs including go...

14 Mai 20251h 33min

298 · Christian Mayer - The Power in Fixed-Sized, Non-Compounding Plays

298 · Christian Mayer - The Power in Fixed-Sized, Non-Compounding Plays

Christian Mayer, with an institutional trading background, transitioned from equities to forex, focusing on fixed sized mean-reversion strategies with fundamental correlations where structural edge is...

29 Apr 20251h 5min

297 · Cody Yeh - Slow, Medium, and Fast Money Strategies

297 · Cody Yeh - Slow, Medium, and Fast Money Strategies

A former engineer turned successful options trader, real estate investor and entrepreneur, Cody Yeh shares his incredible journey from the 9-to-5 grind to achieving financial freedom through smart inv...

10 Apr 20251h 11min

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