Philosophers / Thinkers

16 Edward O. Thorp Quotes (A Man for All Markets)

6 Edward O. Thorp Quotes About Life That Will Make You Think (BEST)

Life is like reading a novel or running a marathon. It’s not so much about reaching a goal but rather about the journey itself and the experiences along the way.”

Edward O. Thorp
In the abstract, life is a mixture of chance and choice. Chance can be thought of as the cards you are dealt in life. Choice is how you play them.
In the abstract, life is a mixture of chance and choice. Chance can be thought of as the cards you are dealt in life. Choice is how you play them.
Shortsighted things that people sometimes do for their individual self-interest don't tend to work out well in the long run.
Shortsighted things that people sometimes do for their individual self-interest don’t tend to work out well in the long run.
A small extra gain is generally not worth the substantial risk the deal will break up.
A small extra gain is generally not worth the substantial risk the deal will break up.
Simplify rules, regulations, and laws. Get government out of the business of micromanaging.
Simplify rules, regulations, and laws. Get government out of the business of micromanaging.
I also learned the value of withholding judgement until I could make a decision based on evidence.
I also learned the value of withholding judgement until I could make a decision based on evidence.

7 Edward O. Thorp Quotes on Money and Investing

“Our corporate executives speculate with their shareholders’ assets because they get big personal rewards when they win — and even if they lose, they are often bailed out with public funds by obedient politicians. We privatize profit and socialize risk.”

Edward O. Thorp
I find that retirement savings is individual specific. There's not one cookie-cutter answer for everybody.
I find that retirement savings is individual specific. There’s not one cookie-cutter answer for everybody.
I don’t object to some people being richer... I object to gain of wealth through political connections rather than earning it by merit.
I don’t object to some people being richer… I object to gain of wealth through political connections rather than earning it by merit.
There are inefficiencies in the market, but they're not easy to demonstrate, and I think that needs to be done before one shifts money in that direction.
There are inefficiencies in the market, but they’re not easy to demonstrate, and I think that needs to be done before one shifts money in that direction.
Do not assume that what investors call momentum... will continue unless you can make a sound case that it will.
Do not assume that what investors call momentum… will continue unless you can make a sound case that it will.
One of my great pleasures from the study of investing, finance, and economics is the discovery of insights about people and society.
One of my great pleasures from the study of investing, finance, and economics is the discovery of insights about people and society.

“I also learned from my losing silver investment that when the interests of the salesmen and promoters differ from those of the client, the client had better look out for himself.”

Edward O. Thorp

3 Edward O. Thorp Quotes on Casino and Gambling

“The people who run the casino are tough and smart is so many ways, but they belong in the Dark Ages… They explain the phenomena of their world the way the ancient astrologers did. They really believe that dice get hot.”

Edward O. Thorp
Casino gambling with a system where you have the edge is a wonderful teacher for elementary money management.
Casino gambling with a system where you have the edge is a wonderful teacher for elementary money management.

“Gambling is a tax on ignorance. People often gamble because they think they can win, they’re lucky, they have hunches, that sort of thing, whereas in fact, they’re going to be remorselessly ground down over time.”

Edward O. Thorp

(MUST READ) A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market

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