The Kelly Capital Growth Investment Criterion Book Summary

In 'The Kelly Capital Growth Investment Criterion', Leonard C. MacLean, Edward O. Thorp, and William T. Ziemba unveil a revolutionary investment strategy that maximizes capital growth and minimizes risk. Their insightful analysis combines mathematical rigor with practical investment principles, making it an essential read for serious investors. Discover how the Kelly criterion can transform your approach to betting and stock market investments alike. This book not only challenges conventional wisdom but also provides a blueprint for attaining financial success. Are you ready to rethink your investment strategies and harness the power of growth?

By Leonard C. MacLean, Edward O. Thorp, William T. Ziemba

Published: 2012

"Investment success doesn't merely rest on the assets we choose, but on our understanding of the balance between risk and reward."

The Kelly Capital Growth Investment CriterionBook binding

Start Listening to Book Summary

0:000:00

Book Overview of The Kelly Capital Growth Investment Criterion

About the Book Authors

L

Leonard C. MacLean

Leonard C. MacLean is an esteemed author known for his compelling narratives and ingenious storytelling. His notable works include 'The Whispering Woods,' a haunting exploration of nature and the human spirit, and 'Shadows of the Past,' which delves into the complexities of memory and regret. MacLean's writing style is characterized by rich, evocative prose and a strong sense of place, drawing readers into vividly realized worlds. Through his novels, he skillfully blends elements of mystery and psychological drama, making him a distinctive voice in contemporary literature.

E

Edward O. Thorp

Edward O. Thorp is a renowned mathematician, author, and hedge fund manager, best known for his pioneering work in the fields of both gambling and finance. Born on August 14, 1932, Thorp gained national recognition with his groundbreaking book, 'Beat the Dealer,' published in 1962, which introduced the concept of card counting in blackjack and transformed the game into a strategic endeavor. He followed this success with 'Beat the Market,' where he applied his mathematical expertise to the stock market, showcasing strategies that could achieve consistent returns. Thorp's writing is characterized by clarity, analytical rigor, and a practical approach, making complex concepts accessible to both novices and seasoned professionals. Throughout his career, he has been a strong advocate for the application of mathematical principles in everyday decision-making and investment strategies.

W

William T. Ziemba

William T. Ziemba is a distinguished author and researcher known for his contributions to the fields of finance and operations research. He is particularly recognized for his works in optimization and decision-making processes. Notable publications include 'Handbook of Asset and Liability Management' and 'Mathematical Methods in Risk Analysis', where he explores the intricate balance between risk and return in financial contexts. Ziemba's writing style is characterized by its analytical rigor and practical applicability, making complex concepts accessible to both academics and practitioners.

Book Details

Key information about the book.

Authors
Leonard C. MacLean, Edward O. Thorp, William T. Ziemba
Published
January 2012
Publisher
World Scientific Publishing Company
ISBN
9814383139
Language
English
Pages
N/A
Genres
InvestingFinanceFinancial Independence

Purchase Options

Amazon logoBuy on Amazon
BookShop logoBuy via BookShop

Support local bookstores: BookShop gives a portion of each sale to independent bookshops!

Similar books you might like →

Captive PrinceBook binding

Captive Prince Book Summary

In "Captive Prince," the captivating tale of power and betrayal unfolds as Laurent, the cunning prince of Vereck, must navigate the treacherous politics of his enemy's court. When Damen, the exiled warrior prince of Akielos, becomes a slave to Laurent, forced into a world of subterfuge and intrigue, unexpected alliances begin to form. As the two grapple with their conflicting loyalties and simmering desires, they are drawn into a dangerous game that could alter the fate of their kingdoms. The tension escalates with each page, revealing secrets that could shatter their lives and reshape their loyalties. Will love conquer all, or will the weight of a fractured legacy seal their doom?

Captive Prince
C. S. Pacat
A Court of Thorns and RosesBook binding

A Court of Thorns and Roses Book Summary

In "A Court of Thorns and Roses," Feyre Archeron, a skilled huntress, is thrust into a deadly faerie world after killing a wolf in the woods. Captured by Tamlin, a powerful High Fae lord, she discovers an enchanting realm steeped in danger and magic. As Feyre grapples with her feelings for Tamlin, a dark curse looms, threatening his home and all he loves. Chilling choices lead her into a treacherous game where betrayal and sacrifice become part of the dance. Will she embrace her fate and uncover her true strength before it’s too late?

A Court of Thorns and Roses
Sarah J. Maas
The Book of ThreeBook binding

The Book of Three Book Summary

In "The Book of Three," young pig-keeper Taran embarks on a captivating quest to rescue his homeland, Prydain, from the encroaching darkness of an evil warlord. Accompanied by a motley crew of magical allies—including a fearless princess and a wise-cracking pig—Taran discovers his own potential beyond the confines of his humble beginnings. With each challenge, he grapples with themes of bravery, friendship, and destiny, weaving a tale that blurs the lines between heroism and cowardice. As the tension escalates and ancient prophecies unravel, will Taran rise to become the hero he dreams of, or will he falter under the weight of his own insecurities? Dive into this enchanting adventure and uncover the secrets that bind fate and courage in a world where darkness looms ever closer.

The Book of Three
Lloyd Alexander
Six of CrowsBook binding

Six of Crows Book Summary

In "Six of Crows," a cunning thief named Kaz Brekker assembles a motley crew of misfits to pull off an impossible heist: breaking into the impenetrable Ice Court. Each member of his team harbors a dark past and unique talents, from a deadly bodyguard to a heart-wrenching spy. As they navigate treacherous alliances and deceitful foes, Kaz's meticulously crafted plan begins to unravel in unexpected ways. Themes of loyalty, revenge, and redemption intertwine, revealing the thin line between hero and villain. Will Kaz conquer his demons and achieve the ultimate victory, or will betrayal seal their fate?

Six of Crows
Leigh Bardugo
The Priory of the Orange TreeBook binding

The Priory of the Orange Tree Book Summary

In "The Priory of the Orange Tree," a richly woven tapestry of fantasy unfolds, where a matriarchal society faces an age-old threat from a dragon that once ravaged their lands. Amidst court intrigue and budding alliances, a fierce dragon rider and a reluctant noblewoman must confront their destinies while grappling with their emerging identities. As ancient magical forces stir, secrets long buried begin to surface, challenging their beliefs and allegiances. With a captivating blend of romance, adventure, and empowerment, this epic tale dares to reimagine classic tropes and ignite the flames of courage. Will they unite to save their world, or will the shadows of the past consume them all?

The Priory of the Orange Tree
Samantha Shannon
The Millionaire Next DoorBook binding

The Millionaire Next Door Book Summary

In "The Millionaire Next Door," Thomas J. Stanley and William D. Danko reveal surprising truths about the habits and lifestyles of America's wealthy. Rather than flashy spending, these millionaires embody frugality, discipline, and the pursuit of financial independence. Uncover the principles that distinguish the affluent from those who merely appear wealthy, and learn how everyday choices shape true wealth. Through eye-opening statistics and relatable anecdotes, this book dismantles common misconceptions about wealth. Are you ready to discover the secrets of those living quietly among us who have amassed true fortunes?

The Millionaire Next Door
Thomas J. Stanley, William D. Danko
The Intelligent InvestorBook binding

The Intelligent Investor Book Summary

In "The Intelligent Investor," Benjamin Graham unveils timeless strategies for navigating the volatile world of investing with wisdom and discipline. He introduces the concept of value investing, teaching readers to distinguish between price and intrinsic value, all while emphasizing the importance of a defensive investment strategy. Graham’s insightful principles empower investors to cultivate emotional resilience, protecting them from the relentless whims of the market. With real-world anecdotes and practical advice, this classic remains a cornerstone for anyone seeking financial success and peace of mind. Dive in to discover how patience, rationality, and a solid plan can transform your investment journey!

The Intelligent Investor
Benjamin Graham
SapiensBook binding

Sapiens Book Summary

In "Sapiens: A Brief History of Humankind," Yuval Noah Harari takes readers on an exhilarating journey through the evolution of our species, from the dawn of Homo sapiens to the complexities of the modern world. He explores pivotal moments like the Cognitive Revolution that sparked human imagination, the Agricultural Revolution that reshaped societies, and the Scientific Revolution that propelled unprecedented advances. As Harari delves into the interplay of biology, culture, and history, he challenges our understanding of what it means to be human. This thought-provoking narrative raises crucial questions about our future in an age dominated by technology and artificial intelligence. Prepare to rethink humanity’s past and speculate about its fate—are we the architects of our destiny?

Sapiens
Yuval Noah Harari

Showing 8 of 25 similar books

Take your reading experience to the next level

Download our mobile app to enjoy your favorite books on the go. Get access to exclusive features, offline listening, and personalized recommendations.

Download on the App Store

Similar Book Recommendations →

Bill Ackman's Book Recommendations

Bill Ackman's Book Recommendations

Bill Ackman is an American hedge fund manager and founder of Pershing Square Capital Management, known for his activist investing style. Ackman has been involved in high-profile investment battles, including his campaigns against companies like Herbalife and his successful turnaround of companies like Canadian Pacific Railway. He is known for taking bold, contrarian positions and for his ability to influence corporate governance through shareholder activism. Ackman’s investing philosophy focuses on long-term value creation, and he has become one of the most recognized figures in the finance world.

Business and LeadershipMoney MattersSuccess Stories and Life Lessons
Ray Dalio's Book Recommendations

Ray Dalio's Book Recommendations

Ray Dalio is the founder of Bridgewater Associates, one of the largest and most successful hedge funds in the world. He is also the author of the bestselling book Principles, where he outlines his philosophy on life, leadership, and investing. Ray is renowned for his unique approach to transparency, radical truth, and thoughtful disagreement within organizations. His insights into economics and investing have made him one of the most influential figures in the financial world. Dalio continues to be a thought leader in business, economics, and philanthropy.

Business and LeadershipSuccess Stories and Life LessonsInspiring Reads
Andrew Lokenauth's Book Recommendations

Andrew Lokenauth's Book Recommendations

Andrew Lokenauth is a distinguished author and financial expert known for his insightful contributions to personal finance and investment literature. With a career spanning over a decade, he has written extensively on topics such as wealth management, financial planning, and market analysis. Lokenauth's works are celebrated for their clarity and practical advice, making complex financial concepts accessible to a broad audience. He has been featured in numerous financial publications and has established himself as a trusted voice in the industry. Beyond his writing, Lokenauth is also a sought-after speaker, sharing his expertise at various seminars and workshops.

Money MattersSuccess Stories and Life Lessons
David Goggins's Book Recommendations

David Goggins's Book Recommendations

David Goggins is a retired Navy SEAL and former U.S. Air Force Tactical Air Control Party member who has gained widespread recognition for his extraordinary achievements in endurance sports and personal development. As an ultramarathon runner, triathlete, and world record holder for completing 4,030 pull-ups in 17 hours, Goggins exemplifies unparalleled mental and physical resilience. His memoir, "Can't Hurt Me: Master Your Mind and Defy the Odds," has become a bestseller, inspiring millions with its powerful messages of overcoming adversity and pushing beyond perceived limits. Goggins is also a sought-after motivational speaker, known for his no-excuses approach to self-improvement. His story continues to motivate individuals around the globe to embrace challenges and strive for excellence.

Self-ImprovementSuccess Stories and Life LessonsInspiring Reads
Morgan Housel's Book Recommendations

Morgan Housel's Book Recommendations

Morgan Housel is a financial writer and partner at The Collaborative Fund, best known for his book The Psychology of Money. His work explores the behavioral side of finance, emphasizing how emotions, history, and decision-making impact wealth-building. Housel’s writing is widely praised for being accessible, insightful, and engaging, making complex financial topics easier to understand. He contributes regularly to financial publications and speaks at conferences on the power of long-term thinking in finance. His book has become a modern classic in the personal finance genre.

Money MattersInspiring ReadsSuccess Stories and Life Lessons
Kevin Rose's Book Recommendations

Kevin Rose's Book Recommendations

Kevin Rose is a notable entrepreneur and technology investor, best known for founding Digg, a pioneering social news website that significantly influenced online content sharing. Although not primarily recognized for literary contributions, Rose has impacted digital media and online culture, which are recurring themes in contemporary literature on technology. His insights and experiences have been featured in various tech journals and books, enriching discussions on innovation and digital entrepreneurship. Rose also co-hosted the popular podcast "The Random Show" with Tim Ferriss, where he shares his thoughts on technology, health, and productivity. Through his ventures and public speaking, Rose continues to inspire narratives around the digital revolution and startup culture.

Technology and FutureInspiring ReadsBusiness and LeadershipCreativity and Innovation
Nassim Nicholas Taleb's Book Recommendations

Nassim Nicholas Taleb's Book Recommendations

Nassim Nicholas Taleb is a Lebanese-American author, scholar, and risk analyst, best known for his work on uncertainty, probability, and risk. His books, including The Black Swan and Antifragile, explore how rare and unpredictable events shape the world and how individuals and systems can become more resilient to shocks. Taleb’s insights on risk management have influenced fields ranging from finance to medicine, and he is known for his outspoken criticism of conventional wisdom. His ideas about randomness, decision-making, and the limitations of human knowledge have made him a leading thinker in modern economics and philosophy.

Success Stories and Life LessonsSpirituality and PhilosophyBusiness and Leadership
Jamie Dimon's Book Recommendations

Jamie Dimon's Book Recommendations

Jamie Dimon is an American business executive, best known as the Chairman and CEO of JPMorgan Chase, one of the largest and most influential financial institutions in the world. Dimon has led JPMorgan through multiple economic crises, including the 2008 financial crash, and has consistently been recognized for his leadership in the banking industry. Under his tenure, JPMorgan has grown into a global financial powerhouse, focusing on innovation and sustainability. Dimon is also an advocate for corporate responsibility and frequently speaks on economic and regulatory issues. His leadership style and strategic insights have earned him widespread respect in the business world.

Business and LeadershipSuccess Stories and Life Lessons

Showing 8 of 13 related collections

Investment success doesn't merely rest on the assets we choose, but on our understanding of the balance between risk and reward.

The Kelly Capital Growth Investment Criterion

By Leonard C. MacLean, Edward O. Thorp, William T. Ziemba

Frequently Asked Questions