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  How to
Take a Penalty:
The Mathematical Curiosities of Sport
by Rob
Eastaway, John Haigh
'An
interesting read for even the most maths-phobic'. The Good book guide
Why might it help a penalty taker to look at a clock before he kicks
the ball? Does winning the toss actually matter? And why should some people
consider playing darts blindfold?
'How to Take a Penalty' takes a novel
and intriguing look at sport, by exploring the mathematics behind the action.
Discover, for instance, the surprising links between boxing and figure skating
and between American football and cricket, the unusual location of England's
earliest 'football' (in a parish church), the 26.5-degree 'trick' snooker shot,
the pros and cons of being a consistent golfer, and the formula for winning a
game of tennis.
With a subtitle 'the hidden mathematics of sport' I
thought this might be dry, but in fact I read it in one sitting. The maths in
here is accessible, and the harder stuff is stuck away in the appendix. Lots of
sports included, though the most commonly referred to are football, cricket,
tennis, rugby and athletics. Great chapter on darts. A very interesting
read.
Hardcover - 192 pages
(June 17, 2005)  £9.09  $22.95
 Fortune's Formula: The Untold Story of the Scientific Betting System
That Beat the Casinos and Wall Street
by William Poundstone
This is an excellent book about the
discovery of the Kelly formula that is unknown outside gambling. This story has
three protagonists. Two of them were scientists working at Bell Labs: Claude
Shannon, a genius polymath who developed information theory; and John Kelly, a
maverick genius, who is directly responsible for the development of Kelly's
formula. The third one is a brilliant MIT mathematician, Ed Thorp.
As
the author states, Ed Thorp's genius consists in "...his continuous ability to
discover new market inefficiencies ... as old ones played out." Ed Thorp closed
this second fund in 2002. He is now independently exploring inefficiencies in
gambling.
Claude Shannon amassed large wealth by recording one of the
best investment records. His performance had little to do with Kelly's formula.
Between 1966 and 1986, his record beat even Warren Buffet (28% to 27%
respectively). Shannon strategy was similar to Buffet. Both their stock
portfolios were concentrated, and held for the long term. Shannon achieved his
record by holding mainly three stocks (Teledyne, Motorola, and HP). The
difference between the two was that Shannon invested in technology because he
understood it well, while Buffet did not.
John Kelly was a chain
smoking, gun collecting brilliant physicist. He died young at 41 of an
aneurysm. He worked closely with Shannon at Bell Labs. Besides being a
charismatic character the author does not write much about his life compared to
the other two.
Hardcover -
400 pages (September 14, 2005) £13.96 $17.82
 Against
the Gods: The Remarkable Story of Risk
by Peter L. Bernstein
Bernstein has managed to take a subject
which at first sight seems intensely boring, and has made it fascinating.
Whether or not you have any interest in Risk, Statistics or Econimics, you owe
it to yourself to read this book. It is quite simply a "Ripping Yarn". Its
greatness lies in Bernstein's ability to tell the story in an accessible
manner, without dumbing down the essential facts. Let me say it again: Read
this book because it is a fascinating and well written story. The fact you will
know a lot more about Risk at the end of it is an incidental, but very welcome,
extra.
Paperback - 394
pages (9 October, 1998) £8.39 $13.57
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