Edward Thorp
Edward Thorp is a mathematics professor, author, hedge fund manager, and legendary gambler. He rose to fame as the author of the 1962 book, Beat the Dealer, which launched the blackjack card counting phenomenon that continues to this day. His book laid out a groundbreaking system of card counting, followed by guides to roulette and other gambling games. Thorp is a pioneer in modern applications of probability theory and was one of the first to harness small correlations for reliable financial gain. Known as the "father of the wearable computer," he also developed and applied effective hedge fund techniques in the financial markets, and collaborated with Claude Shannon in creating the first wearable computer.
Edward Thorp Professional Experience / Academic History
Professional Experience
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Author
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Professor of Finance
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Professor of Mathematics
Academic History
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Ph.D., Mathematics
MATHEMATICS & GAMBLING
Thorp is a mathematician by trade. His interest began when he was trying to beat the roulette wheel.
He switched to blackjack after reading a study by several MIT students in the mid-1950s that demonstrated the vulnerabilities of blackjack.
Beat the Dealer caused a sensation when it was released and actually caused casinos to come up with some defense mechanisms.
In his book, he explains how he developed the strategy, the early years and his views on casino games today.
ACADEMIA
Thorp worked at the Massachusetts Institute of Technology (MIT) from 1959 to 1961.
He was a Professor of Mathematics from 1961 to 1965 at New Mexico State University, and then joined the University of California, Irvine where he was a Professor of Mathematics from 1965 to 1977.
He also served as Professor of Mathematics and Finance from 1977 to 1982.
MEDIA & APPEARANCES
Thorp has been featured or quoted in Bloomberg, Los Angeles Times, Business Insider, Barron's, and MarketWatch, among others.