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Published May 25, 2022

Beating Blackjack and Roulette, Beating the Stock Market, and More | Edward O. Thorp

Pioneering mathematician Edward O. Thorp shares his revolutionary strategies that reshaped gambling and investment landscapes, from creating the first wearable computer to offering invaluable financial insights and reflections on achieving personal fulfillment.
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  • Pursuing Enough

    Edward O. Thorp shares his philosophy on recognizing when one has enough wealth and the importance of not letting it consume life. He emphasizes that his journey into investing was driven by curiosity and a love for mathematics, rather than a desire to accumulate wealth. Thorp reflects on the story of Joseph Heller and Kurt Vonnegut, highlighting the value of having enough:

    I have something he'll never have... I have enough.

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    This mindset contrasts with those who endlessly chase wealth, often losing sight of life's true joys and the people they cherish 1 2.

       

    Independence

    Thorp discusses the significance of independence and how he spends his time after stepping away from active investing. He values independence as a means to enjoy life without the constraints of managing vast wealth and its associated responsibilities. Thorp explains that accumulating enough capital allows for a lifestyle focused on personal interests and relationships, rather than endless work:

    Once you have capital, then you have the chance of independence.

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    He spends his time reading, traveling, and enjoying family, emphasizing the importance of doing what one loves and avoiding unnecessary burdens 3 4.

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