Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street

Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
Average customer rating:

Kelly criterion for investing?

Things you don't get to learn elsewhere

An engaging story

KELLY'S METHOD OF INVESTEMENT ALLOCATION

Fun and Informative

Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
William Poundstone
Manufacturer: Hill and Wang
ProductGroup: Book
Binding: Paperback

General | Investing | Business & Investing | Subjects | Books
Stocks | Investing | Business & Investing | Subjects | Books
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ASIN: 0809045990
Release Date: 2006-09-19

Amazon.com

Fortune's Formula is a fascinating study of the connections between such seemingly unrelated topics as gambling, information theory, stock investing, and applied mathematics. The story involves the stunning brainpower of men such as MIT professor Claude Shannon, who single-handedly invented information theory, the science behind the Internet and all digital media; Ed Thorpe; and John Kelly of Bell Laboratories, who developed the "Kelly criterion," a now-legendary investment strategy for maximizing growth while controlling risk. Initially, Shannon and Thorpe took Kelly's theory to Las Vegas and applied it to roulette and blackjack. Later, they took it to Wall Street and cleaned up--Shannon made a personal fortune while Thorpe created the highly successful hedge firm Princeton-Newport Partners. They both discovered that Kelly's system was particularly effective when applied to arbitrage (minute price differences that result from market inefficiencies). As Poundstone ably demonstrates, the merits of Kelly's criterion are still hotly debated today.

Poundstone has a tendency to meander in his writing, but his asides are so revealing and interesting that they add, rather than detract, from the narrative. The book also includes a cast of fascinating and colorful characters as varied as Ivan Boesky, Warren Buffet, Rudolph Giuliani, and notorious mobsters such as Bugsy Siegel and Meyer Lansky. In explaining the lasting impact of the work done by Shannon, Thorpe, and Kelly, Poundstone even explains Kelly's system for those wishing to follow his formula, offering readers both theoretical and practical lessons. Whether viewed as a how-to guide or straight scientific and financial history, Fortune's Formula proves an entertaining and illuminating analysis of "the most successful gambling system of all time." --Shawn Carkonen

Book Description

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 phenomenonally 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 Fortune’s Formula will convince you that he was right.

Customer Reviews:

Kelly criterion for investing?.......2007-10-17

I give the book four stars because it was a pretty good read and an informative history. The story revolves around the Kelly Criterion which is a risk management system where you bet according to the edge you have. If you have a great edge, like highly reliable tips on horse races, then you bet heavily. If the edge is a much lower probability, you risk much less. Pretty simple. If you can quantify your edge. One important aspect of the criterion was that you always took into account a catastrophic loss, so you never risked your entire account. In theory you could continue to bet forever even if you have a horrible string of losers because you are always betting only a percentage of your account.

The story revolves around John Kelly, Claude Shannon, Ed Thorpe, and a host of others including mafia members, Rudy Guiliani, Ivan Boesky, the geniuses from LTCM and many others. I enjoyed the way the author linked all of these people together. The story kept me interested throughout the entire book. And this was my second time reading it! I picked it up by mistake, read the first chapter, thought to myself "hey, I have read this book already", but I was hooked again so I kept reading. Glad I did.

The Kelly system was interesting to me because Thorpe and Shannon used it to win money at the casinos and also to make a fortune on Wall street. The Princeton-newport partners were highly successful for a number of years and surpassed almost all of Wall street with their consistently high returns. Maybe it was a great streak of luck as they implied, but maybe the market is inefficient and smart people can pull money out at will.

I am thankful for reading this book and learning about the Kelly system which is not all that different from my present risk management system. Except the Kelly system has a few rules I presently do not use. But it has gotten me interested and I will test it out and probably implement some of it into my trading.

Things you don't get to learn elsewhere.......2007-09-02

Someone recommended this book to me as an investment book. At the time I was not sure how gambling and quantitative approach to investment are related. But this book, through its illustration of Kelly's criteria provides a new way to think about investment strategy. I learned all the moot theories in school - Mean portfolio optimization, diversification, efficient market theory, etc. But thinking of information theory, Kelly's criteria and ever present arbitrage can give one quite an edge.
The book interweaves mathematics, history and stories quite well and is a very good read. Imagine an investment book that reads almost like a fiction novel :)
The material is very well researched and it contains history of gambling, and investment and how information theory evolved. The book also gives a view into how a powerful school of thought can eclipse other schools of thought. in this case, Samuelson, et all from MIT refute geometric returns from Kelly's criteria even though working proof is present and the alpha factor in returns is not a myth.
I am glad the person recommended this book to me.

An engaging story.......2007-09-01

Wow, I loved this book. A well written and easy to read history of the evolution of investment theory. Starting with off track betting at the beginning of the century and ending with the collapse of Long Term Capital Management, this is an engaging story.

I was particularly interested in the application of betting theory to investing. The fact that some investment strategies actually include a point of zero value was very informative.

A great read.

KELLY'S METHOD OF INVESTEMENT ALLOCATION.......2007-07-21

KELLY, a Texan mathematician died at 41 but left behind a wonderful method/conceptual framework applicable to investments as well as casino gambling. It is a fascinating book and the mathematics professors provide a wonderful drama. The author has made complicated math/statistics concepts real simple even for those who don't like maths.

Fun and Informative.......2007-07-19

Yes, perhaps the book's title is a bit misleading. Those who gave bad reviews to the book may have been looking for a get rich quick formula to beat the market or the casinos. The book focuses on the Kelly criterion and also gives quite a bit of attention to the efficient market hypothesis. The strength of the book is in its portrayals of the characters involved in the stories behind the Kelly Criterion and Efficient Market Theory.

Admittedly, at times it was a stretch to connect some of the players in this drama to the Kelly Criterion or the Efficient Market Hypothesis. Rudy Guiliani is one of several people in the book who are quite tangential to the main story line. However, I found this not to be a weakness of the book. Indeed, it enhanced my enjoyment of the story.

Those who are looking for a hard core mathematical examination of some of the topics of the book will be disappointed. As will those who are looking for a quick how-to in applying some of the theories. However, the vast majority of people will enjoy getting an inside look at some of the personalities involved in the development of these concepts and will love seeing how some of the theories held up in the "real world".

Beat the Market: A Scientific Stock Market System

Average customer rating:

Dated, but a good filter rule
The veritable secrets of the universe are revealed
Review
Interesting and workable strategy for thinly traded warrants
Great strategy 40 years ago when there was no Black-Scholes

Beat the Market: A Scientific Stock Market System
Edward O. Thorp
Manufacturer: Random House
ProductGroup: Book
Binding: Hardcover
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Evidence-Based Technical Analysis: Applying the Scientific Method and Statistical Inference to Trading Signals

ASIN: 0394424395

Customer Reviews:

Dated, but a good filter rule.......2007-08-27

The strategies in this wonderful book are only employable in Asia now, and in very limited ways (often insurance and bank stocks and bonds) but you take a lot of liquidity risk, so I'm not sure if you are still paid alpha over an expected return.

Still, a marvellous read. Pre-dates the Black-Scholes by five years, but in a replicating portfolio no-arbitrage method (which implies a lognormally distributed expected equity return) which Thorp then correctly pointed out was arbitrageable.

This book also serves as a curious filter rule. Those who read this and understand the old world and Thorp's method most likely can see current methods and models and break them down and differentiate them into tractable and fantasy. Credit structures who've relied on standard cash-flow and default probability metrics would have done well to start with Thorp to see how what they construct can be de-constructed by clever boots who see both the strengths of the original construct, and the copula methods and correlation assumptions in the structure (and its decay) to make arbitrage opportunities. In other words; if they read Thorp and "get it" they have a lower likelihood of being hoodwinked going forward.

The veritable secrets of the universe are revealed.......2007-03-23

E. O. Thorp has made a tremendous career from finding opportunities and properly exploiting them as advertised in this ground breaking book. There is no one in the financial world who has had a better risk-adjusted return than Thorp for the last 30 years.

Virtually unknown is the fact that years before, Thorp invented/discovered the formula that is attributed to Black-Scholes, with the exception of the risk-free interest rate factor, because of existing market structure that prevented interest from being a factor.

And Thorp's treatment of the Kelly Criterion makes this a standout work.

Since many have never read this book yet or tried to apply the principles that Thorp revealed in this book, it would be easy to dismiss this as some worn-out idea that has come and gone. Far from it. There is a reason that the few copies that were printed are still in demand.

The old saying is that those who can, do - while those who can't, teach. Thorp proved that he was the former.

If the principles from the book are understood the execution in different markets becomes apparent. In the last 20 years, I have applied the method in different forms in stocks, futures markets and LEAPS, with returns that exceeded the benchmarks stated in the book, with the same relative safety factors.

As long as there are people making investment decisions; who change their views as to whether a tradeable is cheap or dear, the opportunity for this method will remain infinite.

The concept IS the thing.

Review.......2005-09-13

I like typing. I like seeing my words in print on the internet. I have a lot of time to waste. But all in all, it is a good book that is in ok shape for its age and was at a good price.

Interesting and workable strategy for thinly traded warrants.......2003-04-25

Agree with much of the prior review. That said, if you can find thinly traded warrants (i.e., where there is less pricing efficiency due to the low trading volume), this book presents a very workable strategy for the individual investor. In addition, the book does outline an approach for hedging the "warrant component" of convertible bonds. In my opinion, the key is to stay in the low-volume (and, therefore, more market in-efficient) securities, so that an individual investor can use one's small size as an advantage by trading where the larger funds cannot.

Great strategy 40 years ago when there was no Black-Scholes.......2001-12-18

The basic premise of this book is to long stock and delta hedge w/ out of the money warrants. This was great when the tax incentives encouraged corporations to sell bonds w/ detachable warrants rather than selling convertible bonds. In addition, valuing the warrants was tricky prior to the use of the Black-Scholes model. This strategy - delta neutral covered calls - is profitable when the market has peaked out but you can get your handed to you if you employ it in a scenario such as '99-'00. Further their reocmmendations that you short more as your warrants fall is very dangerous - shorting a lot of gamma. The warrant game played itself out and the authors made a a lot of money. This is a very interesting book written by a very profitable hedge fund manager, but I would not recommend attempting to replicate this strategy w/ LEAPS. Pricing is much tighter now so your margin of error has dramatically decreased

Up the Creek with a Paddle: Beat MS and Many Autoimmune Disorders with Low Dose Naltrexone (LDN)

Average customer rating:

If you have MS or any autoimmune disease...READ THIS BOOK!
Very interesting!!!
Mary Anne Bradley is an Angel
Recommended!
If you have MS this book is for you!

Up the Creek with a Paddle: Beat MS and Many Autoimmune Disorders with Low Dose Naltrexone (LDN)
Mary Anne Boyle Bradley
Manufacturer: PublishAmerica
ProductGroup: Book
Binding: Paperback

Healing | Alternative Medicine | Health, Mind & Body | Subjects | Books

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The Gold Coast Cure: The 5-Week Health and Body Makeover, A Lifestyle Plan to Shed Pounds, Gain Health and Reverse 10 Diseases

ASIN: 1413765998

Book Description

The story is simple. It is about love, life and hope. After years of battling with the onslaught of her husband's Multiple Sclerosis, Mary stumbled on a little known doctor in New York City, Dr. Bernard Bihari. Many people were making very bold claims about his work on the Internet. They claimed that Dr. Bihari knew how to stop every type of MS from progressing. Even better, it was claimed that he could help everyone with an autoimmune disorder, ranging from psoriasis to AIDS. It was claimed that Dr. Bihari could help them with Low Dose Naltrexone (LDN). Eventually, Mary's husband took a leap of faith and put Dr. Bihari's work to the test. LDN worked. It stopped his MS from progressing. Her uncle with Parkinson's Disease also tried it. Again LDN worked. It stopped his Parkinsons from progressing. Since September 2002, a world-wide campaign has ignited with passionate momentum, to get the already FDA-approved drug medically recognized for treating MS and all autoimmune disorders. LDN is cheap and has no known side effects. The ambition is for LDN to hit the masses and improve the lives of millions. The trials are near, making this a very exciting time for the LDN community and everyone who suffers from an autoimmune disorder.

Customer Reviews:

If you have MS or any autoimmune disease...READ THIS BOOK!.......2007-10-11

I was diagnosed with MS in July 05 at 29. In Jan of 06 I ended up paralyzed from the waist down due to an severe exacerbation. I was not on any of the C.R.A.B. drugs at the time, but was using holistic remedies that I had read about. After getting out of the hospital I went on Copaxone. While it seemed to help, I was not thrilled about taking a shot everyday nor the $3000 a month cost of the medication. I was relentless when it came to looking for other therapies. I stumbled on this book by just searching for literature on MS here on Amazon. The book looked unassuming, but the title was too intriquing to pass up. I bought the book and read the entire thing the day I received it. WOW! I was so excited! I was having difficulty finding a Dr. to prescribe LDN as most seem to follow the standard protocol to avoid lawsuits or because of pressure from drug companies. I emailed Mary and she emailed me back and within a week I found my current doctor and have not looked back. I have been on LDN since mid April and am so thankful! My muscle spasms have decreased so much I don't have to take any other meds for them. My bladder dysfunction still persists, but is so much improved that I only take half the dosage of those pills now. And, it is SOO nice only taking a pill at night before bed than giving yourself injections everyday. Finally, the cost!! I spend $30 a month for my LDN. My costs have been cut 100 fold. If you have MS or any autoimmune disease I would encourage you to read this book. Everyone (NMSS in particular) keeps touting that an oral medication is just around the corner....IT'S ALREADY HERE AND AVAILABLE!!!!

Very interesting!!!.......2007-09-23

After 10 years of traditional therapy I decided after a lot of research to try LDN. The book was easy and enjoyable to read. Shared with my support group. This treatment has some remarkable success but little support
since trials are rarely done. It would be fantastic to have an inexpensive drug recognized for its positive benefit on chronic debilitating illnesses. We need the $$$$ signs to go out of the drug companies mentality and push to investigate and be positive on helping so many who struggle daily. Maybe more success stories need to be published.

Mary Anne Bradley is an Angel.......2007-01-30

I was recently diagnosed with MS this past June and through an incredibly fortunate turn of events,my In-Laws suggested I read Mary Anne's book...which I did. It is so well written,chock full of imperitive information that I was not receiving through the medical community,provided much insight into this desease,and at times humorous and touched me in an amazing way. Yet, I was even more touched to again have the incredible good fortune to actually meet Mary Anne and her husband Noel in person in July. To say that she and her family have been thoroughly instimental while I'm on this journey is an understatement.'Up the Creek with a Paddle' is an absolute must-read for anyone grappling with a life-altering disease, whether the person directly affected or the caregivers/family/friends. LDN has provided me with such massive help and hope and had it not been for Mary Anne Bradley, I would never have known about LDN's existance. To read this book and learn of LDN will turn your life around, to have met Mary Anne and Noel Bradley restores your faith in true Earth-bound Angels!Thanks for them both and thanks for 'Up the Creek with a Paddle' will never be enough. Mary Anne is a true pioneer and has the fortitude and tenacity that is seemingly lacking in the medical community on a whole.Her book should be a must-read for anyone going through very difficult medical challenges...not exclusive to MS. Thank you so very, very much for everything, Mary Anne!!!
Kelly Collentine

Recommended!.......2006-11-06

LDN is a treatment for MS (and other autoimmune diseases) that MUST be taken seriously by the medical and research communities. Mary Bradley gives an easy to read personal account of her LDN journey on behalf of her husband who has MS. She is articulate, informed, and shares a wonderful sense of humor. Clearly she did her homework before pushing her husband to try LDN and readers can benefit from the work she did. Her ongoing efforts to get clinical trials for the use of LDN in the treatment of MS and other diseases demonstrates her compassion and dedication to others who are dealing with these conditions.

One of the most important contributions Ms. Bradley makes is the hope she gives to those suffering from MS and those of us who love them. In fact, my sister emailed her about her daughter/my niece (diagnosed with MS in 9/05)and Mary Bradley CALLED her back! She was full of hope and encouragement which meant so much to my family. Read this book! It is full of valuable information and the author really cares!

If you have MS this book is for you!.......2006-08-20

It is a well writen book detailing how hard it is to get movement
within the medical world, to approve a drug that is better than anything on the market,is generic, and is not expensive.

The medical world will not press for a medical trial, which is
quite expensive, since it will not benifit the drug companys.

LDN is the real thing. READ THE BOOK.

Beat the Odds: The Smart Player's Guide to Online Poker

Average customer rating:

From recognizing and avoiding online cheats to understanding the quicker environment of the online play
Very narrow target market-- and it's probably not you.
Useless
What a Manual Should Be
Not worth the time nor money

Beat the Odds: The Smart Player's Guide to Online Poker
Marty Cortinas
Manufacturer: Peachpit Press
ProductGroup: Book
Binding: Paperback

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ASIN: 0321316282

Book Description

You've watched celebrity poker on TV; you've witnessed an accountant come from nowhere to win the World Series of Poker; now you're ready to cash in on the online action yourself!

But before you do, you'll want to invest in a copy of Beat the Odds: The Smart Player's Guide to Online Poker for clear, no-nonsense instructions to savvy online poker playing. Learn the difference between online and real poker, how to set up an account and join a table, and where to go to find the most popular games--5-Card Draw, 5-Card Stud, 7-Card Stud, Texas Hold 'Em, and Omaha, as well as how to choose the right casino for you.

Step-by-step instructions, plenty of pictures, and real world tips will show you the ropes and help you quickly develop online expertise.. You’ll learn how to put on your best poker face with strategies (understanding the differences between poker sites and choosing the right casino, avoiding getting cheated, and software programs to track competitors) and your know-how of online poker legal issues, tournament play, and more!

Download Description

"You've watched celebrity poker on TV; you've witnessed an accountant come from nowhere to win the World Series of Poker; now you're ready to cash in on the online action yourself! But before you do, you'll want to invest in a copy of Beat the Odds: The Smart Player's Guide to Online Poker for clear, no-nonsense instructions to savvy online poker playing. Learn the difference between online and real poker, how to set up an account and join a table, and where to go to find the most popular games--5-Card Draw, 5-Card Stud, 7-Card Stud, Texas Hold 'Em, and Omaha, as well as how to choose the right casino for you. Step-by-step instructions, plenty of pictures, and real world tips will show you the ropes and help you quickly develop online expertise.. You'll learn how to put on your best poker face with strategies (understanding the differences between poker sites and choosing the right casino, avoiding getting cheated, and software programs to track competitors) and your know-how of online poker legal issues, tournament play, and more!"

Customer Reviews:

From recognizing and avoiding online cheats to understanding the quicker environment of the online play.......2006-05-27

Millions play poker online monthly: while it's similar to playing in person, there are some important differences. BEAT THE ODDS: THE SMART PLAYER'S GUIDE TO ONLINE POKER explores these differences - and tells how to overcome obstacles by choosing the best online casinos, playing for virtual or real money, and interacting with other players. From recognizing and avoiding online cheats to understanding the quicker environment of the online play, BEAT THE ODDS is for any poker player seeking entry to a whole new online gaming world.

Diane C. Donovan, Editor
California Bookwatch

Very narrow target market-- and it's probably not you........2006-05-18

Marty Cortinas, Beat the Odds: The Smart Player's Guide to Online Poker (Peachpit Press, 2006)

This is, perhaps, a worthwhile book for the complete novice to online poker; if you don't know where the sites are, and are still learning your way around a computer, there's likely a lot to be gotten out of this. If you're already registered at a poker website, however, there's very little you're likely to find here that will be new. (I did learn about PokerTracker from the book, though, so I can't call it a total wash.)

If you think a more advanced book would be right for you, it probably would. Flip through this one before putting out your hard-earned cash; you may already know everything to be found in it. **

Useless.......2006-03-14

Except for a very brief list of on-line poker sites (and their structure differences) and a warning about cheaters that you can't do anything about, this book offers nothing that even a brand new player doesn't already know about poker. There is nothing about how to play poker, nothing about how to play poker on-line, nothing about on-line strategy, on-line players, no tips, no hints, nothing about odds or how to beat them - nothing!
I never write reviews but I had to warn others about this book.
I felt very ripped off.

What a Manual Should Be.......2006-02-02

"The Smart Player's Guide..." is, happily, what's rarely made available these days; a smartly written, intelligently illustrated, concise instruction manual. In this case, for the evolving world of online poker. Those interested in anteing up to online gaming will find find the author's mixture of gaming knowledge, descriptive analysis, and personal experience with several popular sites a godsend. Those looking for the great american novel will probably want to wait for the first published effort of one of the other reviewers contributing here.

Not worth the time nor money.......2006-01-12

This is just a superficial book about online poker. It is neither worth the time nor money to buy. I have been playing online poker for a little over one month and I could write a better book than this.

I was disappointed in the book.

Average customer rating:

Good overview of HRV written by experts in the field

Heart Rate Variability

Manufacturer: Futura Publishing Company
ProductGroup: Book
Binding: Hardcover

Physiology | Basic Science | Medicine | Subjects | Books

Cardiovascular | Diseases | Medicine | Subjects | Books

General | Medicine | Subjects | Books

Cardiology | Internal Medicine | Medicine | Subjects | Books

General | Health, Mind & Body | Subjects | Books

jp-unknown2 | Specialty Stores | Books
ASIN: 087993607X

Book Description

St. George's Hospital, London, U.K. Reference for cardiologists on the measurement of heart rate variability, its physiological and pathophysiological interpretations, and clinical applications. 66 contributors, 13 U.S. DNLM: Heart Rate.

Customer Reviews:

Good overview of HRV written by experts in the field.......1998-11-24

The book presents a balanced summary of HRV technology and clinical applications. It is lacking in the more recent developments of nonlinear and geometric methods of HRV analysis.This new technology is developing at such a rapid pace that it is already out of date in several areas, in particular the newer techniques of analysis including Poincare plot analysis and the clinical applications including post AMI risk stratification as reported in the ATRAMI study.

La Rovere, M.T., Bigger, J.T.,Jr., Marcus, F.I., Mortara, A., Schwartz, P.J., and ATRAMI Investigators Baroreflex sensitivity and heart-rate variability in prediction of total cardiac mortality after myocardial infarction. Lancet 351(9101):478-484, 1998.

HRV technology is now an established method of quantifying cardiac autonomic activity and the authors of this book are to be congratulated in publishing this landmark first edition.

I look forward to the next edition.

Lupus: How to Beat it One Day at a Time!
Average customer rating:

Excellent

Family

knowledgeble, yet hilarious

Hats off to you!

sweet knowledge

Lupus: How to Beat it One Day at a Time!
Pamela Theresa Evans Felder-Wright
Manufacturer: Pam's Unique Technique
ProductGroup: Book
Binding: Paperback

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ASIN: 0963831011

Book Description

The book offers a virtual smorgasbord of inspiration and positive thoughts to encourage, motivate and inspire those with Lupus to beat it one day at a time.

Each page is filled with information that will serve as a constant reminder that a lost battle or two against Lupus, does not mean that the war against Lupus has been lost. Instead, it challenges the reader to muster up the energy to go back into battle, and "Come back punching!"

Customer Reviews:

Excellent.......2005-12-06

This book gave me a great amount of knowledge and detail about Lupus. However, I especially enjoyed the author's table talk approach. The text was not weighted down with too many medical terms. Instead, the author did an excellent job of sharing her everyday battles and victories with Lupus. The encouraging words and advice she offers can be applied to improve everyday life, not only those living and battling with Lupus. Excellent!

Family.......2005-12-06

I have had two family members to die from Lupus. And I still didn't have a clue of what it was. This book gave me great knowledge of the disease. It also gave me insight of what my family members were going through. I really enjoyed the book.

knowledgeble, yet hilarious.......2005-06-30

This is an excellent book full of inspiring and informative information. It is a good book to read even for people who are not suffering from Lupus."If it got any better I could not stand it".

Hats off to you!.......2005-06-29

I thought this book was very informative to read with or without having lupus. It's very detailed about letting you know what a person wiht lupus goes through no matter how healthy they may appear on the outside. The book has wonderful stories about the writer trials and tribulations and how she personally beat lupus. This book was motivational and funny and it's a great book to read if you have or know someone that has lupus.

sweet knowledge.......2005-06-28

I enjoyed the book more than I expected too. I first picked it up expecting to just scam throught it but I just couldn't put it down. It offered hands on life details of a real person sufferng from lupus. I really didn't know alot about this hidden disease, but found out alot once I read the book. It was also many parts in the books that made me cry mainly because I began to put myself in the authors shoes. It was an excellent book to me.

How to Beat Internet Casinos and Poker Rooms

Average customer rating:

Please read the first review and listen to it!
Previous review is flawed
A bit disappointing

How to Beat Internet Casinos and Poker Rooms
Arnold Snyder
Manufacturer: Cardoza
ProductGroup: Book
Binding: Paperback

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ASIN: 1580421709

Book Description

Arnold Snyder shows how to play and win money online against the internet casinos. People love to gamble, and now that they can do so from their own homes, Snyder shows them how to choose safe sites to play. He goes over every step of the process, from choosing sites, opening an account, and how to take your winnings! There are major chapters covering the differences between "brick and mortar" and internet gaming rooms and how to handle common situations and predicaments. A major chapter covers internet poker and basic strategies to beat hold'em and other games online.

Customer Reviews:

Please read the first review and listen to it!.......2006-06-26

Please do not buy or read this book! I don't want competition. Arnold Snyder is a genious and in my opinion is the foremost gambling expert in the world, and no, I'm not one of "The Entity Known As Avery Cardoza's" shills either. This book is kind of like a sharpa who leads you to a mysterious temple and says "here it is". It doesn't really tell you what "it" is other than to say it could be worth a couple large. It's worth a lot more, and if you don't know why that's certainly not my problem, nor is it Mr. Snyder's for that matter.

Previous review is flawed.......2006-03-17

In reading the first review posted here, most is misguided, misleading, or just wrong.

However, this statement is completely false:
"The trouble is that online gambling is illegal in most of the United States. "

Online gambling is illegal in the few specific states that have prohibited it (Nevada, New Jersey, and a few others). This definitely does not make up the majority of the US.

I would think that Amazon would have a policy against posting false statements in a review.

A bit disappointing .......2006-03-17

Arnold Snyder has some interesting ideas as a gambling writer, but this new offering is a little disappointing.
The author explains how to make money from casino and poker bonuses. Basically, his method involves signing up with an internet casino, taking any bonus they have, then cashing out.

The trouble is that online gambling is illegal in most of the United States. If you could make hundreds of thousands of dollars doing this then it might be worthwhile, but as Snyder seems to admit, getting the money is really hard. Getting money out of an e-casino, judging by the problems Snyder's mentions, is not easy, they are very reluctant to pay up, many simply will take your money knowing you can't take them to court. Some will cheat: it is very easy to write a computer program which fixes the odds against you.

Even with honest e-casinos, you often have to wager eighty times the bonus or more before they will let you keep it!! You would end up losing your money most of the time!! Imagine trying to get a $100 bonus, having to wager $8000, and losing $600 or $700. It does happen!

If you check out the author's website, you see why he is promoting e-casinos-his site gets lots of money from links to internet casinos and he gets a percentage of the losses of people who go through those links. I think that is why he is recommending this type of "advantage play" rather than something respectable like card-counting.

Nevertheless, he does cover some of the common problems you face online in some detail. And, the section on poker is a good basic primer, if you like playing poker.

Beat The Sports Book: An Insider's Guide to Betting the NFL

Average customer rating:

Descent Guide
Puts Miller's Book to Shame
a master handicapper explains his craft
Solid book for the new to intermediate NFL bettor

Beat The Sports Book: An Insider's Guide to Betting the NFL
Dan Gordon
Manufacturer: Cardoza
ProductGroup: Book
Binding: Paperback

General | Puzzles & Games | Entertainment | Subjects | Books

General | Football (American) | Sports | Subjects | Books

Professional | Football (American) | Sports | Subjects | Books

General | Sports | Subjects | Books
Similar Items:

How Professional Gamblers Beat the Pro Football Pointspread
Sharp Sports Betting
The Smart Money: How the World's Best Sports Bettors Beat the Bookies Out of Millions
Weighing the Odds in Sports Betting
Fixed Odds Sports Betting: Statistical Forecasting and Risk Management

ASIN: 1580421741

Book Description

Dan Gordon, who is widely regarded as one of the three best football handicappers in the world, shares his inside tips and strategies on making big money betting on NFL football. Much of the information here is available nowhere else. More than 40 chapters cover basic, advanced and expert concepts that will give readers the most powerful winning information available anywhere. Readers learn how to set up betting models and use power ratings and how to separate performance from perception. Gordon shows how to beat the point spreads and money lines, and how to bet underdogs, propositions, teasers, parlays, futures, and much, much more.

Customer Reviews:

Descent Guide.......2007-07-30

This is a descent guide to handicapping the NFL. It does seem dated as most of the examples come from the 2002 season and before. However, there are some timeless tips and info for use if you are serious about betting on the NFL.

Puts Miller's Book to Shame.......2007-06-14

Easily one of the BEST books I've read on sports handicapping. Dan Gordon is a legitimate pro gambler (unlike JR Miller author of "How pro gamblers beat the football point spread") who understands how to win. The part of the book called the "pro bettors toolkit" provide the reader with genuinely good advice which if followed properly should lead to more winners than losers. I wish he went into detail on how he makes a Letter Rating but that is just something that I am going to have to come up with on my own. For handicapping the NFL this is the only book you'll need but for other useful information I would suggest Donny P's book "win more lose less" and Stanford Wong's "Sharp Sports Betting". I definitely believe this book will help increase my ROI this coming NFL season.

a master handicapper explains his craft.......2006-12-14

Dan Gordon's updated NFL handicapping book is the kind of book one doesn't so much read as study. Handicapping the NFL over a period of many years is hard work, serious work, and Gordon takes it very seriously. Properly done, it ends up amounting to a part-time job. We are not talking about making easy money betting on football.

The first point, which might be obvious to bettors but bears repeating, is that football odds as set by oddsmakers are not meant to predict the actual outcome of the game - they are meant to attract equal distributions of money bet on each side, and this is not the same thing. They have their customers, the casinos, offshore and (illegal) local books to think of. You are not their customer. There are thus opportunities for discrepancies to exist which the bettor will be able to exploit for profit.

Gordon reviews how oddsmakers come up with the line, the various regular and more exotic bets available (on which he spends very little time until the very end of the season), and the odds both mathematical and psychological/social working against the would-be winning bettor. This is all very clearly explained and well written. Further, he assesses various information sources that amateur bettors use, usually to their financial loss, such as much major media, touts, some sports services and professional commentators, all of which generally talk a good game but when their win/loss records are finally revealed are shown to be highly problematic. Worse, they tend to judge themselves against a 50% win/loss barometer, when of course the winning bettor must clear 53% just to stay even.

Further, not only knowledge and applied research, but also timing of bets proves to be highly important. Gordon is honest enough to show numerous cases where he had early access to better prices or numbers, or where these evaporated so quickly, he could not recommend a game to his service customers as that line no longer existed. In game after game one sees how a point or 1 1/2 point difference in the spread means the difference between a winning and losing bet. The NFL teams are very very close in quality overall. Personal discipline in passing on games where the number is close but not quite good enough to bet is important to long term success as well.

In the heart of the book, Gordon's handicapping system, he examines not only hard statistics, but leans heavily towards psychological motivations and factors. There is no factor one can think of to which he does not assign some value, a half point here and a half point there. He explains his starting points for the season using both letter and numerical power ratings, and how he updates each team after each game, every step of the way. The book holds seemingly nothing back.

The last half of the book follows first the Bills through the entire 2002 season, applying the factors of his system to every game they would play, whether he bet on it (and why) or not (and why not). Then he follows the full 2004 season, for each bet he made or contemplated seriously, doing the same, through the Super Bowl and a couple of proposition bets. If one were serious about learning his system, it would be worth the investment of many hours to 'replay' that system on paper, using his methods, and following how he came up with these ratings. At the end of the season he was indeed winner, though relatively modestly so.

Gordon's book is highly recommended for anyone who wants to get serious about handicapping NFL football, and stop simply throwing his money away on hunches or following the crowd.

Solid book for the new to intermediate NFL bettor.......2006-06-22

Beat the Sports Books by Dan Gordon aims to provide the reader with weapons to beat the number in the NFL. Gordon seemingly covers it all in this book. For a beginning to intermediate bettor, this book should provide a solid return on investment.

In Beat the Sports Books Gordon covers all of the betting basics. Topics include a discussion on offshore/internet sportsbooks. Gordon also covers the odds, how the bet against the spread, and how the line is moved.

Gordon then moves on to explain methods for which he uses to handicap an NFL game. An explanation of letter power ratings along with combining them with number power ratings is covered.

The real meat to Beat the Sports Books is the chapters that are a part of "the pro bettor's toolkit". Gordon covers a wide array of subjective situations the bettor can use to find value against the spread.

The only downside to Beat the Sports Books is that it doesn't provide a technique for creating a mathematical power ranking / line based on team performance. Also, Gordon shows little to no interest in totals handicapping. Never fear, though, as books such as J.R. Miller's How Professional Gambler's Beat the Pro Football Pointspread do a fine job.

Gordon provides a solid look at money management, showing the reader that there's more to being a long term winner than simply handicapping. The final sections of Beat the Sports Books provide the reader with a detailed look at actual situations Gordon has encountered during a betting season.

Dan Gordon is a professional level bettor that "gets it". Beat the Sports Books should be a great addition to the serious NFL handicapper's bookshelf.

Winning Market Systems: 83 Ways to Beat the Market

Average customer rating:

Appel is real deal
Too old!
A Must Read
Excellent book on systems design

Winning Market Systems: 83 Ways to Beat the Market
Gerald Appel
Manufacturer: Traders Press
ProductGroup: Book
Binding: Paperback

Stocks | Investing | Business & Investing | Subjects | Books

General | Reference | Subjects | Books

General | Foreign Languages | Reference | Subjects | Books

All Titles | Qualifying Textbooks - Fall 2007 | Stores | Books
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Technical Analysis: Power Tools for Active Investors
Opportunity Investing: How To Profit When Stocks Advance, Stocks Decline, Inflation Runs Rampant, Prices Fall, Oil Prices Hit the Roof, ... and Every Time in Between
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Entries & Exits: Visits to 16 Trading Rooms (Wiley Trading)
High Probability trading

ASIN: 0934380120

Customer Reviews:

Appel is real deal.......2005-08-09

Good book, worth owning and reading. I've seen Gerry speak, and he's a "valid" voice in Technical Analysis and the markets, where there aren't all that many. No holy grail here, but there isn't one anywhere. There is good technical information in the book, despite it's "hokey" looking title. I was skeptical when I bought the book (I've read over 120 on markets so far, have 60 more on the floor, and another 200 on the AMZN wish list), but was PLEASANTLY surprised during the read.

Too old!.......2004-09-23

Appel discusses a number of disjointed trading methods in this book, finally progressing to an exposition of the first version of his Time-Trend (T-T) trading method. This T-T method is momentum-based and has some useful filters incorporated in its methodology. However, it must be emphasized that this is an "expert" system which requires subjective interpretation on the part of its operator. If one is capable of making such trading decisions, then he or she does not need this book.

If you are not a collector of 15 year-old trading books or outdated systems, look elsewhere!

A Must Read.......2004-01-15

This book is as relevant today as it was when published in 1973 and should be in the library of every trader.

Excellent book on systems design.......1999-09-29

Gerald Appel, veteran trader, and the man responsible for making the MACD indicator popular, shares his systems knowledge in this text. It begins with a critique of various moving average systems (good for trending markets) with a constant attention to actual trading results in the real world. He goes on to discuss "swing" based systems that are better suited for a choppy, trading market (non-trending) concentrating on an overbought/oversold oscillator. Some other systems are also examined including channel breakouts. The final chapters deal with Appel's own system which combines rules for using moving averages during trending markets, switching to oscillators for trading markets. The rules are clearly spelled out and can be applied as a purely mechanical system if desired. I haven't backtested the system myself, but Appel provides theoretical results for a time period in the 1970s when the NYSE managed little gain on buy and hold over a multiyear period. The system yielded spectacular results in the same time period excluding dividends (and commission costs, but the # of trades is not excessive and online brokers have lessened this concern). The only downside to the book is that it was written in 1980, and I haven't backtested results for the 1980s and 90s. He does however provide an excellent detailed explanation of the reasoning behind the system. I would recommend this book to both novice and intermediate systems developers. I am interested in trying the system itself, but the book goes along way in providing a background on how to approach systems development and the types of questions to think about. I found it much more practical (although nowhere near as comprehensive) than Kaufman's famous bible on trading systems.

Average customer rating:

OK as far as it goes
Beginners and pros
Good book for newbies only
Simple, Solid Text to Develop or Rejuvenate Your Game
Good Intro Stud Book

How to Beat Low Limit 7 Card Stud Poker
Paul Kammen
Manufacturer: Cardoza
ProductGroup: Book
Binding: Paperback

General | Puzzles & Games | Entertainment | Subjects | Books
Similar Items:

Winning 7-Card Stud: Transforming Home Poker Chumps into Casino Killers
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Winning Omaha/8 Poker

ASIN: 1580421059

Customer Reviews:

OK as far as it goes.......2006-08-23

He has an interesting idea for organizing his advice, though I'm not sure it matches my thought patterns. The book is not terribly technical - nothing like the Malmuth/Sklansky book. For my money I like to play tighter than he advises.

Beginners and pros.......2005-09-20

It's a must read. Paul Kammen takes a game that is often challenging and intimidating, puts the cards in your hands and gives you great book full of usable advice. Well-worded, thoughtful and coming from a gentlemen with obvious knowledge of the game.

Good book for newbies only.......2005-04-02

If you have been playing 7 card stud for any reasonable amount of time, do yourself a favor and skip buying this book. Go buy 7 Card Stud for Advanced Players by David Sklansky.

Simple, Solid Text to Develop or Rejuvenate Your Game.......2004-05-17

Even after placing in many, and winning a few Stud tournaments I knew that my game was weak when it came to this poker variant.

I had read many books on other forms of poker, but had never really worked on developing my stud game. I purchased 2+2's Stud Poker for Advanced Player's but I was stuck somewhere between an introductory book and that more advanced book and what's more I was pretty sure that advanced tactics were all but worthless in a low-limit game or in an online environment where it seems as though all the stakes are played as if they are low.

I heard about this book from a player online who recognized its author at our table and complimented him on the text.

I thought maybe this was a good book for me and that turned out to be right. While it starts off getting total beginners up to speed, there is something in this book for everyone.

Street by street, Paul Kammen advises you on the play of each type of playable hand with which you will be faced. At the end of each situation covered there is a Quick Guide that can be referenced in a flash. In addition, there is a nice collection of odds listed in tables in the appendix.

This is relatively new book, having just been published in late 2003, but I believe it is an instant classic. It belongs alongside, Lee Jones' Low-Limit Holdem text in your poker library. If you have read Lee's book then you know that this is high praise and that Paul's book is required reading.

If you are going to be playing low-limit stud you need to grab this book or lose money to those who did.

Good Intro Stud Book.......2003-08-29

Good tips, advice, and pointers for the novice stud player. I feel more confident at a home game or the card room because poker can be intimidating!

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