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The Poker Face of Wall Street
Book

The Poker Face of Wall Street

Aaron Brown
Wiley, 2006

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Editorial Rating

8

Qualities

  • Innovative
  • Concrete Examples
  • Engaging

Recommendation

In this unusual study, math geek and poker addict Aaron Brown uses royal flushes as a way to meditate on the oft-overlooked topic of financial risk. Poker and trading share many similarities, he argues, and you can apply similar skills and mindsets profitably to both endeavors. Brown travels from California card rooms to Texas back rooms to Yukon gold mining camps, with numerous stops on Wall Street and in the Ivy League. In lesser hands, such a far-reaching study would have lost focus, but Brown manages to keep making meaty points. Unlike the stereotypical quant, Brown writes clearly and gracefully, making his work rewarding to read. getAbstract recommends his book to investors seeking an edge in a risky world. Your deal.

Take-Aways

  • Poker and high finance are inextricably linked; both pursuits require similar skills and attract similar players.
  • Texas Hold ’ Em played with two cards dealt face-down and three face-up, is now the most popular form of the game.
  • Poker players once perfected their skills through years of practice, but computer simulations let students gain a command of the game’s probabilities in months.

About the Author

Lifelong poker player Aaron Brown is an executive director at a major stock brokerage. He writes a column for Wilmott, a quantitative finance journal, and holds degrees in math and finance from Harvard and the University of Chicago.

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