Summaries of books by William Poundstone:
Fortune's Formula
The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
William Poundstone
The book delves into the history and application of the Kelly criterion, a mathematical formula developed by Bell Labs scientist John Kelly to determine the optimal size of a series of bets. It explores how this formula was used by gamblers and investors, including Ed Thorp and Warren Buffett, to maximize wealth while minimizing risk in both casino gambling and the stock market.
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Priceless
The Myth of Fair Value
William Poundstone
The book delves into the psychology of pricing and decision-making, exploring how people often struggle to determine the true value of goods and services. It examines the influence of marketing, the power of pricing strategies, and provides insights on how consumers can be manipulated by perceived value, offering strategies to make better-informed decisions.
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How Would You Move Mount Fuji?
Microsoft's Cult of the Puzzle - How the World's Smartest Companies Select the Most Creative Thinkers
William Poundstone
The book delves into the use of challenging puzzles and questions by Microsoft and other tech companies during job interviews, aiming to assess the problem-solving abilities of candidates. It explores the rationale behind this interviewing technique and its effectiveness in identifying innovative and intelligent employees.
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Rock Breaks Scissors
A Practical Guide to Outguessing and Outwitting Almost Everybody
William Poundstone
The book delves into the science of prediction and decision-making, offering strategies for anticipating the choices of others based on patterns and probabilities. It provides readers with practical tips and psychological insights to gain an edge in various scenarios, from sports and politics to everyday choices.
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