دانلود کتاب مردی برای همه بازارها از لاس وگاس تا وال استریت

Join me in my odyssey through the worlds of science, gambling, and the securities markets. You will see how I overcame risks and reaped rewards in Las Vegas, Wall Street, and life. On the way, you will meet interesting people from blackjack card counters to investment experts, from movie stars to Nobel Prize winners. And you’ll learn about options and other derivatives, hedge funds, and why a simple investment approach beats most investors in the long run, including experts. I began life in the Great Depression of the 1930s. Along with millions of others, my family was struggling to get by from one day to the next. Though we didn’t have helpful connections and I went to public schools, I found a resource that made all the difference: I learned how to think. Some people think in words, some use numbers, and still others work with visual images. I do all of these, but I also think using models. A model is a simplified version of reality, like a street map that shows you how to travel from one part of a city to another or the vision of a gas as a swarm of tiny elastic balls ceaselessly bouncing against one another. I learned that simple devices such as gears, levers, and pulleys follow basic rules. You could discover the rules by experimenting and, if you got them right, could then use the rules to predict what would happen in new situations. Most amazing to me was the magic of a crystal set—an early primitive radio made with wire, a mineral crystal, and headphones. Suddenly, I heard voices coming from hundreds or thousands of miles away, carried through the air by some mysterious process. The notion that things I couldn’t even see followed rules I could discover just by thinking—and that I could use what I discovered to change the world—inspired me from an early age. Because of circumstances, I was largely self-taught and that led me to think differently. First, rather than subscribing to widely accepted views—such as you can’t beat the casinos—I checked for myself. Second, since I tested theories by inventing new experiments, I formed the habit of taking the result of pure thought—such as a formula for valuing warrants—and using it profitably. Third, when I set a worthwhile goal for myself, I made a realistic plan and persisted until I succeeded. Fourth, I strove to be consistently rational, not just in a specialized area of science, but in dealing with all aspects of the world. I also learned the value of withholding judgement until I could make a decision based on evidence. I hope my story will show you a unique perspective and that A Man for All Markets will help you think differently about gambling, investments, risk, money management, wealth-building, and life.