January 21, 2009

Gambling with Your Money

A member of the MIT Blackjack team describes his encounters with the sure-fire, can't-possibly-lose gambling strategy called The Martingale. While a great system in theory, in practice the only thing it guarantees is that you'll lose all your money eventually. Then they make the disturbing observation that the current financial system basically uses this strategy to organize itself. Uh oh....

Posted by thom at January 21, 2009 10:42 AM
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