Edward O. Thorp

Edward Oakley Thorp (born August 14, 1932) is an American mathematics professor, author, hedge fund manager, and blackjack researcher. He pioneered the modern applications of probability theory, including the harnessing of very small correlations for reliable financial gain. Thorp is the author of Beat the Dealer, which mathematically proved that the house advantage in blackjack could be overcome by card counting. He also developed and applied effective hedge fund techniques in the financial markets, and collaborated with Claude Shannon in creating the first wearable computer. Thorp received his Ph.D. in mathematics from the University of California, Los Angeles in 1958, and worked at the Massachusetts Institute of Technology (MIT) from 1959 to 1961. He was a professor of mathematics from 1961 to 1965 at New Mexico State University. He then joined the University of California, Irvine where he was a professor of mathematics from 1965 to 1977 and a professor of mathematics and finance from 1977 to 1982. In a 1973 paper on the card game faro, Thorp proposed a simple model of human shuffling in which the deck is cut into two equal halves and, for each position, the two cards from the halves are riffled together in either order with equal probability, independently of the other pairs. This model is now known as the Thorp shuffle, and Ben Morris, Phillip Rogaway and Till Stegers later used it as the basis of a scheme for enciphering messages on small domains.

Text from Wikipedia, CC BY-SA 4.0