『From Poker Prodigy to Wall Street: How a 14-Year-Old Gambler Became a Quant Trading Legend Aaron Brown Ep 002』のカバーアート

From Poker Prodigy to Wall Street: How a 14-Year-Old Gambler Became a Quant Trading Legend Aaron Brown Ep 002

From Poker Prodigy to Wall Street: How a 14-Year-Old Gambler Became a Quant Trading Legend Aaron Brown Ep 002

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The episode features Aaron Brown, a former professional gambler turned Wall Street quant trader and risk manager at AQR Capital Management. The conversation traces his fascinating journey from a 14-year-old poker player in Seattle to becoming a prominent figure in financial risk management.

Key Points Discussed:

  1. Early Years:
  • Started reading financial pages and horse racing data as a child
  • Began playing poker at age 14 in Seattle taverns
  • Used gambling to help pay for his Harvard education
  1. Professional Gambling:
  • Developed from local games to high-stakes private games
  • Played with influential people including politicians, businessmen, and academics
  • Emphasized the importance of social skills in professional gambling
  • Discussed the evolution of poker from underground games to mainstream entertainment
  1. Sports Betting:
  • Explained the transformation of sports betting from mob-controlled to modern markets
  • Discussed quantitative approaches to sports betting
  • Emphasized the importance of getting bets down early and providing valuable information to bookmakers
  1. Wall Street Career:
  • Transitioned from gambling to quantitative trading in the 1980s
  • Detailed the evolution of mathematical approaches on Wall Street
  • Explained the transition from floor trading to quantitative analysis
  • Discussed his role in mortgage-backed securities and derivatives
  1. Risk Management Principles:
  • Emphasized the importance of proper bet sizing
  • Discussed Kelly Criterion and its applications
  • Highlighted common mistakes in trading and betting
  • Stressed the importance of emotional control in decision-making

    Books:

    • "The Poker Face of Wall Street" (2006) - https://www.amazon.com/Poker-Face-Wall-Street/dp/0470127317
    • "Red-Blooded Risk: The Secret History of Wall Street" (2011) - https://www.amazon.com/Red-Blooded-Risk-Secret-History-Street/dp/1118043863
    • "Financial Risk Management For Dummies" (2015) - https://www.amazon.com/Financial-Risk-Management-Dummies-Brown/dp/1119082200
    • "A World of Chance: Betting on Religion, Games, Wall Street" (co-authored with Reuven and Gabrielle Brenner) (2008) - https://www.amazon.com/World-Chance-Betting-Religion-Street/dp/0521884667

    Website:

    • Personal Website: http://www.eraider.com

    Professional Background:

    • Former Chief Risk Manager at AQR Capital Management
    • Columnist for Wilmott and Quantum magazines
    • Editorial Board member of the Global Association of Risk Professionals
    • Member of the National Book Critics Circle
    • Harvard University (SB in Applied Mathematics)
    • University of Chicago (MBA in Finance and Statistics)

    You can also find his articles and commentary on:

    • RealClearMarkets: https://www.realclearmarkets.com/authors/aaron_brown/
    • Goodreads Author Page: https://www.goodreads.com/author/show/229051.Aaron_Brown

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