Still relevant and interesting:https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1540-6261.2009.01483.x …
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yes, well considering BSM hadn't been invented yet and they were doing convertible bond arbitrage, that was an accurate label at the time. and of course you much like gambling, or you must hate your job.
Yeah Thorp was actually beating the market at the time he wrote this (though iirc it was with warrant arb, not convertible arb). Not worth reading now though in my opinion. His autobiography "a man for all markets" is better.
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both Japanese warrants and converts.
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I man for all markets is a bit boring if you've read Fortune's Formula, and/or his chapters in Hedge Fund Market Wizards He even tells the same fucking story about the mob disabling his breaks in vegas and getting drugged with lsd.
End of conversation
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