Our guest this week is mathematician, William Ziemba. Professor Ziemba has written many books on sports betting, race betting, and the stock market.Click to listen – Alt click to downloadShow Notes[00:00] Introduction of gambling author William Ziemba[00:20] How did Bill get into sports betting?[02:10] Ed Thorpe[07:38] Bill Benter[12:14] Risk arbitrage
Plug Power, Penn National Gaming And Caesars: Key Small Caps Head Down forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
Believe the Hype (This Time, at Least)
There’s a lot of suspicion of daily economic journalism, much of it justified. People like me have to find something to say about markets and the economy every day. There are moves in markets throughout the working week, and new data most days. When everything else is quiet, there is an inevitable tension to over-hype changes that don’t matter that much. This is a temptation that all economic journalists must try to resist.
One problem with the over-excitability about daily data is that people might not realize when something astonishing really has happened. So, to be clear: this week’s data from the U.S. are something very special. We knew a recovery was going on, and we could guess that repeated stimulus would juice it a bit, but the data confirm an amazing rally.
For five years, we lived with one of the most brilliant people on the planet.
Sort of.
See, we spent those all-consuming five years writing our biography of American mathematician Claude Shannon, whose work in the 1930s and ’40s earned him the title of “father of the information age.” That’s how long it took us to understand the influence of the most important genius you’ve never heard of, a man whose intellect was on par with that of Albert Einstein and Isaac Newton.
During that time, we spent more time with the
deceased Claude Shannon than we have with many of our
FAIRFIELD-SUISUN, CALIFORNIA
Column: GameStop isn’t the first stock market mania, and it won’t be the last [Los Angeles Times]
So you think the stock market frenzy in GameStop is something new under the sun?
You’re not alone. Investment pundits pondering the ridiculous run-up in shares of this money-losing retailer are searching for the big picture, their fingers itching to justify typing the word “unprecedented.”
They’re dying to show they’re on to something more profound than a spin of Wall Street’s roulette wheel. Here’s Bloomberg’s John Authers:
“The people investing today are driven by righteous anger, about generational injustice, about what they see as the corruption and unfairness of the way the banks were bailed out in 2008 … and about lacerating poverty and inequality. This makes it unlike any of the speculative rallies and crashes that have preceded it.”