A must-read book "The God of Gamblers Mathematician" for betting fans

In the 1960s, the American casinos, which had always been a place of glamour and glamour, were in a state of flux. A few mysterious guests swept through the major gambling cities, using unbelievable methods to make a lot of money. The major U.S. casinos were in disarray for a while. They were a few mathematicians who made the world worship, moved their laboratory to the casino! Their purpose is to prove a "wealth formula" in practice.

After the "wealth formula" proved its power in the casino, the stock market became the next target. The mysterious formula introduced in the book, which brings wealth to people, is the result of the research of information theorists, and although it has been severely criticized by economists, led by Nobel Prize winner Samuelson, it has been repeatedly proven in the investment of Warren Buffett. Many famous investors have been skilled users of the formula, including Keynes (King's College Cambridge Endowment Fund), Warren Buffett (Berkshire Hathaway), and Soros (Quantum Fund).

This book combines history, gambling, mathematics, economics, investing and anecdotes. Bernstein's The Enemy of Heaven, Taleb's The Fool Who Got Rich at Random, and Roger Lowenstein's The Gambler. Readers of Lowenstein's The Gambler will be enamored with The Gambling Mathematician. All of these books manage to explain why smart people take stupid risks.

The "wealth formula" in the book is a mathematical formula proposed by the famous American physicist John Kelly in 1956, known as "Kelly's formula". If it is possible to reduce the errors caused by noise interference in the transmission of information to zero, then by the same token, investors can also reduce the risk of bankruptcy to zero while pursuing maximum returns.

Today, the Kelly formula has become the golden rule for intelligent investors when determining their investment strategy.