Hello everyone, what’s up? I’m Aaron and welcome to another episode of Chat With Traders. I’ve got a very interesting character to present to you for this episode. This gentleman’s name is Dr. William Ziemba.
Dr. Ziemba is a gambler, trader, an academic, a practitioner, and an author of numerous books. He’s also consulted and worked with a lot of well-respected names in the field such as Blair Hull, Edward Thorp and Bill Benter, a very successful horse bettor.
In fact, William actually learned to trade via horse betting. From that, he now manages the Alpha Z Fund, with a lot of his research and strategies based on calendar anomalies.
Also, if I’m not mistaken, Dr. Ziemba also competed in the Battle of the Quants, which is pretty impressive in my opinion.
Before we get to today’s interview, I always appreciate if it you’d support this podcast and keep it free to listeners. A quick and easy way to do so is to just write an honest review in iTunes so it can help spread the word about the podcast. It will only take two minutes of your time, and it’ll seriously help a lot. Thanks so much!
What’s Covered in This Interview:
- William’s insight into his research into calendar anomalies and what can cause anomalies to exist. He also talks about his bet on a real life stock market anomaly, one he’s had for many years.
- William’s opinion on why so many successful traders tend to come from a gambling background.
- William’s horse racing experience as well as his answer to whether it is easier to make money on sports betting.
- What it means to use Kelly Criterion as a position sizing formula, including a word of caution about over betting and instances where it might be better to use half-Kelly.
Links and Resources:
- WilliamTZiemba.com
- Beat the Racetrack [Amazon]
- Investing in the Modern Age [Amazon]
- Calendar Anomalies and Arbitrage [Amazon]
- The Kelly Capital Growth Investment Criterion [Amazon]
- The Adventures of a Modern Renaissance Academic [Amazon]
