Book Notes · Markets & money
Against the Gods (Peter Bernstein)
The history of risk from dice to derivatives: Hindu-Arabic numerals, Cardano, Pascal and Fermat, mortality tables and insurance, the law of large numbers, Bernoulli's utility, the bell curve, regression to the mean, Markowitz, and behavioral finance.
Step 1 of 6 · Overview30 min read ·
Key idea
Prereqs: Probability basics; Random variables. Next: Fooled by Randomness; Portfolio theory. Book: Peter L. Bernstein, *Against the Gods: The Remarkable Story of Risk* (1996).Next: 1. Thesis