Fortune’s Formula: William Poundstone’s book is about systematic and math-based profiteering. In 1956, mathematician Claude Shannon and John L Kelly, a physicist, discovered a formula which prescribes what a wager should be for a given outcome, so as to maximise one’s gains. MIT mathematician Edward Thorp used the formula in stocks with his hedge fund averaging 20% annual return over 30 years. The book is not just about the formula but offers insights into business and management as well.