Fortune's Formula

In Fortune's Formula, William Poundstone explores the groundbreaking collaboration between mathematician Claude Shannon and physicist John L. Kelly Jr., who developed a scientific formula for wealth based on information theory. Their method, known as the "Kelly formula," not only proved successful at casinos but also transformed stock market investing, leading to significant fortunes for Shannon and Edward O. Thorp. The audiobook delves into the successes and controversies surrounding this approach, revealing the complexities and moral questions tied to capitalizing on insider knowledge in pursuit of financial gain.