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People from these backgrounds are more likely to have valid ideas rather than the speculative humbug of many other writers. Books I have found so far:

Burton P. Fabricand, The Science Of Winning, last edition/printing 2002, and Beating The Street, 1969.

John Allen Paulos, A Mathematician Plays The Stock Market, last edition/printing 2007.

Warren Brussee, Getting Started In Investment Analysis, 2009.

Are there any other authors from these backgrounds who have written about stock market investment?

I am not particularly interested in people from a finance background who have written investment books such as Burton G. Malkiel A Random Walk Down Wall Street or the many financial textbooks such as Brealey and Myers Principles Of Corporate Finance, because I have studied them already.

Edit: two other authors who fulfil my criterion, that I had forgotten about as I have not read them:

Edward Thorp, Beat The Market, 1967.

Benoit Mandelbrot, The Misbehaviour Of Markets, last edition/printing 2008.

  • Product/service recommendation questions are off-topic. But I will mention The Intelligent Asset Allocator, by William J. Bernstein. – Chris W. Rea Oct 21 '18 at 19:54
  • Investing is actually much a psychological game, so there is another background of authors you could look into. – Victor Oct 21 '18 at 22:32
  • @Victor Indeed! William J. Bernstein covers that too, in his great followup book "The Four Pillars of Investing". Psychology is pillar #3. – Chris W. Rea Oct 21 '18 at 23:31
  • And another good one is by Van Tharp. – Victor Oct 22 '18 at 7:09
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People from these backgrounds are more likely to have valid ideas rather than the speculative humbug of many other writers.

You may want to read Nicolas Taleb. If only because he is himself trained in mathematics and statistics, but has a very skeptical attitude towards statistical and mathematical models of investing. Among the flaws he sees in mathematical theories of investing is what he calls the ludic fallacy: that the real world can be well modeled by simple mathematical games. An example of which is

One example given in the book is the following thought experiment. Two people are involved:

Dr. John who is regarded as a man of science and logical thinking

Fat Tony who is regarded as a man who lives by his wits

A third party asks them to "assume that a coin is fair, i.e., has an equal probability of coming up heads or tails when flipped. I flip it ninety-nine times and get heads each time. What are the odds of my getting tails on my next throw?"

Dr. John says that the odds are not affected by the previous outcomes so the odds must still be 50:50.

Fat Tony says that the odds of the coin coming up heads 99 times in a row are so low that the initial assumption that the coin had a 50:50 chance of coming up heads is most likely incorrect. "The coin gotta be loaded. It can't be a fair game."

The ludic fallacy here is to assume that in real life the rules from the purely hypothetical model (where Dr. John is correct) apply. Would a reasonable person bet on black on a roulette table that has come up red 99 times in a row (especially as the reward for a correct guess is so low when compared with the probable odds that the game is fixed)?

Wikipedia: Ludic fallacy

Taleb is a controversial figure and rather given to invective and ad hominem, but serious economists and statisticians have engaged with his criticisms, even when they disagree with them.

Taleb has written several popular books and numerous academic papers, all listed on his web site.

  • Nicolas Taleb has had a lot of publicity and written several long books, but he has never been a career scientist, mathematician, or statistician, so sorry he does not fulfil my criterion/criteria. He is from a finance background, which I was trying to exclude. – HumbleOrange Apr 5 at 11:49
  • @HumbleOrange Taleb certainly has a finance background, but he has also held academic positions at places like Oxford and the Courant Institute of Mathematical Sciences. He has published many peer reviewed papers in mathematical, and statistical journals. That meets my standard for being a professional mathematician. You are of course free to set your own standard. – Charles E. Grant Apr 5 at 15:31

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