The House Advantage: Playing the Odds to Win Big In Business [NOOK Book]

Overview


As part of the notorious MIT Team depicted in Ben Mezrich’s now classic Bringing Down the House, Jeff Ma used math and statistics to master the game of blackjack and reap handsome rewards at casinos. Years later, Ma has inspired not only a bestselling novel and hit movie, but has also started three different companies—the latest of which, Citizen Sports, is an innovative marriage of sports, betting, and digital technology—and launched a successful corporate speaking career. The House Advantage reveals Ma’s ...

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The House Advantage: Playing the Odds to Win Big In Business

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Overview


As part of the notorious MIT Team depicted in Ben Mezrich’s now classic Bringing Down the House, Jeff Ma used math and statistics to master the game of blackjack and reap handsome rewards at casinos. Years later, Ma has inspired not only a bestselling novel and hit movie, but has also started three different companies—the latest of which, Citizen Sports, is an innovative marriage of sports, betting, and digital technology—and launched a successful corporate speaking career. The House Advantage reveals Ma’s cutting-edge mathematical insights into the world of statistics and makes them applicable to a wide business audience. He argues that numbers are the key to analyzing nearly everything in the world of business, from how to spot and profit from global market inefficiencies to having multiple backup plans in anticipation of every probability. Ma’s stories and business lessons are as intriguing as they are universally applicable.



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Editorial Reviews

Publishers Weekly
Ma, the math whiz and subject of Ben Mezrich’s bestselling Bringing Down the House, turns his savvy to business. A former professional card counter on the MIT blackjack team, Ma used statistics to beat the game, and his enthusiasm for the power of data and for overcoming emotion to make the best decisions proves persuasive. Though his lessons aren’t particularly new, his methods and thrilling stories of card counting in Vegas gives his book a compelling boost. He instructs leaders to recall that past performance, like a dealt blackjack hand, has an impact on the future; to avoid groupthink and a “hot hand,” or overconfidence, at all costs; and to prioritize what the data says. Even those who do not consider themselves math types can benefit from posing business issues as follows: a simple question helps focus a complex mathematical model and that complex mathematical model helps solve a very important business problem. It’s a spirited—if simplified—approach to decision making. (July)
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Product Details

  • ISBN-13: 9780230109681
  • Publisher: St. Martin's Press
  • Publication date: 2/14/2012
  • Sold by: Macmillan
  • Format: eBook
  • Pages: 256
  • File size: 517 KB

Meet the Author


Jeffrey Ma was a member of the MIT blackjack team, which utilized sophisticated card-counting strategies to beat casinos at blackjack worldwide in the mid-1990s, and was the basis for the main character of the book Bringing Down the House and the film 21. He has been the technology lead for two internet startups and was an options trader on the Chicago Board of Options Exchange. He co-founded PROTRADE, a sports stock market website, and consults for professional sports teams including the Portland Trail Blazers and the San Francisco 49ers. He lives in San Francisco, CA.


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Table of Contents

Acknowledgments

Foreword Ben Mezrich Mezrich, Ben

1 The Religion of Statistics 1

2 Why the Past Matters 23

3 Think Like a Scientist 43

4 The Importance of Asking Questions 63

5 The Impractical Search for Perfection 81

6 Using Numbers to Tell a Story 99

7 Never Fear 119

8 Making the Right Decision 137

9 When I Won, We All Won 159

10 Why People Hate Math and What to Do with Them 173

11 The Brain Cells in Your Stomach 191

Epilogue 211

Appendix: Basic Strategy Chart 227

Notes 229

Index 235

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Sort by: Showing all of 3 Customer Reviews
  • Anonymous

    Posted November 5, 2011

    Very interesting

    Good read, he should write some more. Was quite happy with purchase. Applying analytic perspective to life or business is an interesting point of view.

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  • Posted August 19, 2010

    Connection made!

    Jeffery Ma connected the real world to his Blackjack experience. Outstanding book!

    0 out of 1 people found this review helpful.

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  • Anonymous

    Posted December 14, 2011

    No text was provided for this review.

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