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100 Reviews Found
Ed Thorp, Leonard Maclean, and William Ziemba wrote a masterpiece here. For me, this is a very necessary textbook because it captures the importance of position size. What a lot of people in the financial globe fail to recognize is the tethered relationship that exists between probability expectations and position size. This book doesn't just present the calculations for the Kelly criterion, but it also provides methods for trying to develop a amazing expected value for certain types of happenings and outcomes. If you're a serious investor, you would be crazy to pass on this book. For one reason, Ed Thorp is the living example of why the Efficient Shop Hypothesis is false - simply look at his 227 months out of 230 for beating the shop and you'll see what I'm talking about... Thank you for sharing this info gentleman!
Needlessly detailed and does not give the investor a sound opinion or point of view on advantages vs the disadvantages of using and calculating trading capital with the Kelly criterion.
This book consists of research papers in applying Kelly Criterion and building foundation of using it. As Nasim Taleb wrote in his review, you can actually see the thinking behind Edward Thorp, arguably the best hedge fund manager to this day ( on par with Jim Simons from Renaissance Technology). I highly recommend this book to any quants interested in applying Kelly Criterion.
I have not read this book. I read almost all books that I review, so I disclose when I have merely scanned a book such as this.Why scan? First, I didn't ask for the book. Second, it is 800+ pages long. Third, it is a series of academic articles defending and attacking the Kelly Criterion -- it will have a very specific audience that cares about the academic side of the debate. The famous side is covered by the book, "Fortune's Formula," which I have favorably reviewed e easy method to phrase the argument for the Kelly Criterion is this: you have an advantage vs the markets for whatever reason. You have an edge on average, and the odds are tilted in your favor. You size your bets as a ratio of edge over odds. If your edge is durable, and the odds are calculated right, the optimal decision leads to the best compound growth of capital on muelson sits in his ivory tower, where only efficient markets exist. Those of us that are practitioners know that the markets are hard, but not me, the Kelly Criterion is intuitive, whereas the ideas of Modern Portfolio Theory are a stretch. They don't fit the method the shop operates.Who would benefit from this book: If you are really interested in the Kelly Criterion debate , and are willing to pay up to obtain a amazing summary of the debate, it is available here. Note: you have to like math.
Like new!? This book was never cracked begin it appears! No highlighting, writing, or bent pages whatsoever! I absolutely am happy with this purchase, and can not wait to obtain the text book that goes with the workbook from them! 100% satisfied!The seller makes sure to place truth in the description, and they have a guarantee. I was skeptical at first but am overjoyed with this purchase at less than the cost of a brand fresh book from the producer. 10/10 would purchase from again!
The objective of this text book is for the student to go over and practice on info that's essential to move forward to the next chapter. Also as my professor says " you wish the meat not the rice " .
This book makes difficult concepts simple to understand. Some of the concepts are advanced, but it's like having a genius as a tutor. Tim Crack does a amazing job of explaining current investment methodology and research. Any student considering an advanced degree in finance should consider this a must read. Investment managers wanting to stay sharp would also benefit.
I purchased the workbook separately to save cash but if you type in the www service on the front cover of the textbook; the website gives free answers to the book and other helpful info.
The book was in amazing shape and I was satisfied with Amazon. In my opinion the book was very much over priced and it did not include any helpful information. I will resale it for sure.
This book is even more valuable than the nearly uniformly positive reviews indicate. Timothy Crack has taken the extremely generous step of identifying 27 questions in investments that have incomplete or no solutions in the finance literature. They are identified in the index as ‘thesis topics.’The thesis subjects are excellent for research based Master’s degrees. One of them might comprise a chapter in a PhD dissertation. Alternatively, newly minted PhDs or seasoned faculty who wish to reset their research programs may search these subjects to be a useful starting point.Every finance department library (do any still exist?), director of graduate studies or director of research should have a copy of this book kept handy.
A very amazing book, easily readable and to the point, uncluttered, and written not only by a scholar but also by a practitioner, that hits most of the essential principles of is book is the true deal. I define it “a must have” on the bookcase for anyone seriously considering pursuing a career in this field.
I am a third year Business student, majoring in Extended Finance. I would highly recommend this book to each one of my fellow students to bind together and further develop the knowledge gained so far. I would have actually preferred using Foundations for Scientific Investing as textbook for a couple of quant topics given its clarity and the depth of the subjects discussed. Given how a lot of of the chapters are stand-alone, I was able to skim trough the subjects I am most confident with, to focus on the locations I wanted to gain more insight on. I am grateful to the mate who recommended to me; overall a amazing reading!
This is one of the best book to build foundational knowledge on quant and finance. It lays out meticulously from primary to advance in each chapter. It clears my doubt and street block in quant concepts.Highly recommended to whoever keen on building a amazing foundation in quant finance.
Witty, fun, amazing examples, and often a special look at investments topics. First investments text I have ever come across that reads like something I bought for pleasure reading. Guaranteed you will learn something fresh with a smile on your face, even if you've read a hundred investments books. Brilliantly written covering everything you need to know to obtain started (algebra, statistics, TVM) right straight through the investments field.
Fabulous book! Timothy Crack covers a host of finance subjects with a series of sophisticated discussions that combine technical foundations with a lot of wisdom. A lot of of the chapters are stand-alone, so that a reader can pick and choose among the topics. Crack writes very well and with a wry touch of humor. It's really a unbelievable book, and I recommend it very highly
Cabi is good. The application gets a small annoying when renting bikes going from wifi to cell network. Also can only report bike problems in 1 hour (sometimes it may take a bit to have time if you forget immediately). Also may be nice to report non critical issues. But overall nice. It updates where the bikes and racks are.
Net Worth display shows cents, not very helpful. Also the +green$ text under the number makes you think the acc value went up that much during the timeframe when it's really just where you started.. doesn't create sense. Other than the small things, the fresh look freshens up an application that was looking dated.
I like this application quite a bit. However, I've been playing with the education expense in the retirement planner, and it seems to hold applying the expense now instead of 20 or so years in the future. 5 stars if this gets fixed. Recently, I can't refresh my vehicle payment acc which is saying it was latest updated 9/12
I switched to using Private Capital from a competing application that I felt was stagnating. I really have fun the smooth at a glance interface of Private Capital both in application form and on the web. My one problem is the homescreen widget. I'm currently using the "Recent Transactions" widget, but what I'd really like to use is the "Net Worth" tab in widget form, to quickly see balances across all accounts.
I haven't using this application for a long time but it seems a small annoying. Everytime I begin the application I have to login to my credit cards account. If I check the application 3 times a day I have to place my phone number then respond some security questions then they'll send me a code otherwise I won't be able to control everything the method I wish to. They should fix that asap cause it's very frustrating
Has significant issues mapping to well established banking institutions such as Chase, Wells Fargo, Capital One, etc. Reported issues, told several times that engineers fixed, rarely do supposed fixes work, and it's been 6 months in some cases without resolution. Private Capital needs to fix itself.
The application & web website are awesome. And I want I could just use it as that. But unfortunately it seems to be a car for selling financial management services - I obtain repeated text messages and phone calls trying to set up a financial adviser appointment. There seems to be no method to say "I already have a financial adviser, I don't need another, just allow me use the web website & app." I'd even pay for it if that were an option.
I love the features.. But... I am constantly having to reenter my login credentials for my financial instutuions. Im not talking about one time use securit codes and txt verification codes, but the actual user login and passwords of my individual accounts. I am constantly having to do this over and over. None of the info has changed, yet your www service and application just randomly forgets this info and expects me to place it in again. Please correct this issue.
I like the simplicity of this app. It allows me to see multiple accounts on one page. I can easily see my net worth. One improvement I would like to see is the option to see pending transactions. The spending categories also look like they can use some improvement.
Very quick and intuitive app! I particularly like the fact that you can see how a lot of bikes are at each station and that it is so fast to check one out! What happy me the most, however, is how attentive it is. I recently had my bike lock but complete the ride due to an problem with one of the docks, and the application notified me and gave me the option to call customer help so that I would not continue to be charged!
Amazing application and service as long as you're careful. Even if you buy a multi day pass the bikes are meant to be out for more than 30 mins at a time. A trick from the www service is to just dock the bike for 1 minute, then take it out again to restart your timer.
Sure you can rent a bike and lock a bike but does it actually work? I'd say it's a not good ver of Lime/Spin and other GPS tracked bike share. It's annoying enough to test and search a station but then the prices at the station don't list the non membership prices. You spend more time stressed about finding a bike station to finish your ride than actually enjoying your ride, partially because the mapping/navigation feature in the application is useless (doesn't work). 2 rides, never again.
Application feels a small too web-y for my taste, as opposed to native, but it gets the job done and works well. The product as a whole is awesome. Only true concrete criticism I can give is that updates are sometimes slow and delayed, but it at least tells you when it is behind.
Don't like the fresh colors. But worse, you've significantly reduced the height of the graphs by duplicating the current value for the section. Completely unnecessary! Furthermore, the green text that is supposedly the change over a date range is just flat out wrong.
It is a amazing application for visibility across all your accounts. To be clear this is not a banking application where one can transfer funds and pay bills etc. It has automatic categorization of expenses which is mostly right. If one creates custom categories, it doesn't train itself yet.
I like having the dashboard view of my life without having to log in to a million various places. Makes it easier to manage and be aware or things. I would love it more if I could track vesting schedules on certain retirement accounts and have values be real versus inflated (they will tell you this can be done by tracking the acc manually, however if it's invested that's a everyday time commitment versus an if then coding).
Is this a joke app? Citi, USbank, Bank of America, Discover, and Capital One all fail to add to account. This is worse than Mint where I'm at now. Figured I wanted some investment tip and future planning but if they can't even add my account, are they really worthy of giving advice. I'm using Note 10+ and even copied and pasted acc passwords from password locker. Need major fixing, we're trying to connect our financial accounts not our Walmart ping lists. Obtain with the program.
The application is overall good. I'd like to see more information as in the website. there is a major glitch with accounts that have unique characters in their passwords. no matter what you do, these accounts will not sync. after some digging, I read that Private capital deletes the unique characters in your password and thus cannot sync these accounts, even if you have all the correct log in info.
I've been using this application for about one year now, and it's great. I've used software for budgeting and tracking investments for a lot of years - Excel, Microsoft Money, Mint, etc. Private Capital is my favorite of all I've tried. Let's hope these guys stay around and hold the application free.
Only been using for a short time but so far love it, I was able to link everything financial to it including vehicle loans/bank/brokerage accounts etc... and was very easy. Very clean looking so you can tell time went into creating the app. Their www service is also super clean looking.
The best free budgeting and expense tracking application I have found. Love the focus on net worth. Can connect with multiple accounts (like M1) that other finance apps couldn't. Even Private Capital doesn't connect to WeBull yet tho. It's simple to edit and organize all your expenses. They don't test to obtain you to test their "premium (paid)" ver every time you begin the app, and the desktop website is amazing too. It's a beautiful amazing application
I love that it automatically adds accounts on an existing linked acc unlike Mint. However, for Budgeting, Mint is still better, but even Mint has room for improvement. For naming what accounts I do have, Private Capital is superior to Mint. I love that it supports more banks than Mint and is easier to do so too than Mint (meaning less clicks to achieve the same effect vs Mint).
The application always crashes at the moment a pop-up appears asking if you wish to use fingerprint sign-in, yes or no. All you can do is uninstall and you can obtain no technical support to fix the issue. I saw the same issue on three various Android device phones. Worthless until they search and fix the issue. If they even bother, i guess.
I love the application but can not link my e trade acc to it. Modernize they fixed my e trade linking problem. It works amazing and would recommend to all my mates to use this app. If you wish an application to place all your accounts in so you only look at one application to manage all your accounts then this is for you.
Most everything in one place. I really love this application for the private net worth information. It took a small bit to obtain through some of this, mostly fine tuning. But since my goals are saving and debt reduction, this application let's me see this all in one place.