Discover Knowledge rather than Hope: A Book for Retail Investors and Mathematical Finance Students by Vasily Nekrasov.
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Overview: This book does not tell you how to make millions. But it does tell you how to avoid typical mistakes and severe losses. It also tells you which long-term performance you can expect from a trading strategy and how to verify whether a strategy really works. In particular, the Kelly criterion (also known as fortune's formula) is comprehensively discussed with portfolio management in mind. You will also learn the basics of the statistical analysis with R. Last but not least the author frankly shares his own (sometimes bitter) trading experience. In order to read this book you need a working knowledge of college mathematics. But the book is completely void of mathematical arrogance and complicated but impractical market models. The most of problems are solved by means of the Monte Carlo simulation, i.e. we let a computer work for us. R code and sample chapters are available on the author's website www.yetanotherquant.com
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Vasily Nekrasov is the author of several novels. Originally from the East Coast, they now live in the Midwest with family. In addition to writing, Vasily Nekrasov enjoys gardening, cooking, and reading way past bedtime. Their work often explores the complexities of everyday life and human relationships.
Honestly one of the better books I've read lately. I got really invested in the main character's journey. Everything just clicked for me. A solid 5/5 for me.
Susan RodriguezDecember 25, 2025
A very satisfying read. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Definitely recommend it if you like this genre.
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Linda JohnsonMay 14, 2024
Really enjoyed this one. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. A solid 5/5 for me.
Susan PhillipsOctober 08, 2025
Honestly one of the better books I've read lately. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Definitely recommend it if you like this genre.
Daniel ThompsonSeptember 26, 2024
A solid read. I liked the main character, though some of the side plots were just okay. I'd probably recommend it to a friend.
Sharon RobertsNovember 04, 2025
I was pleasantly surprised. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Would probably read it again at some point.
Deborah KingJune 05, 2025
A solid read. I liked the main character, though some of the side plots were just okay. A solid 4 stars from me.
Brian RobertsApril 24, 2024
A very satisfying read. I loved how the story unfolded. It kept me guessing without being too confusing. Will be looking for more from this author.
David LopezSeptember 12, 2024
A very satisfying read. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Glad I picked this up.
Matthew RobinsonSeptember 23, 2024
A solid read. It held my attention, even if a few things were a little predictable. Still a good book.
Richard RobinsonSeptember 29, 2025
Glad someone recommended this to me. The author did a great job wrapping everything up at the end. No weird plot holes left behind. A solid 5/5 for me.
Carol SmithOctober 05, 2025
Took me a few chapters to get into it, but it was worth it. Writing is good, just wish there was a bit more depth in certain parts. Still kept my attention though. Still a good book.
Margaret CampbellOctober 16, 2024
A very satisfying read. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Glad I picked this up.
Rebecca LeeAugust 15, 2024
Took me a few chapters to get into it, but it was worth it. I liked the main character, though some of the side plots were just okay. Still a good book.
Susan ThompsonJanuary 06, 2025
Finished it in a couple of days. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Will be looking for more from this author.
David BakerOctober 05, 2025
A very satisfying read. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Worth the time and money.
Andrew WalkerOctober 23, 2024
Such a great read. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. Will be looking for more from this author.
Cynthia TaylorJuly 01, 2024
Took me a few chapters to get into it, but it was worth it. Writing is good, just wish there was a bit more depth in certain parts. Still kept my attention though. Not bad at all.
Matthew CruzJuly 01, 2025
Honestly one of the better books I've read lately. I loved how the story unfolded. It kept me guessing without being too confusing. A solid 5/5 for me.
Dorothy YoungMarch 17, 2024
Glad someone recommended this to me. The author did a great job wrapping everything up at the end. No weird plot holes left behind. Would probably read it again at some point.
Kimberly JacksonJuly 24, 2025
Such a great read. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. A solid 5/5 for me.
Donna PerezJuly 23, 2025
Glad someone recommended this to me. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Definitely recommend it if you like this genre.
Ashley ThompsonSeptember 17, 2024
Finished it in a couple of days. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Definitely recommend it if you like this genre.
Nicholas ScottMay 19, 2025
Such a great read. I loved how the story unfolded. It kept me guessing without being too confusing. Will be looking for more from this author.
John NelsonSeptember 16, 2024
Took me a few chapters to get into it, but it was worth it. Interesting premise and executed fairly well. Just a few slow chapters here and there. Enjoyable weekend read.
Ashley AllenOctober 07, 2025
Glad someone recommended this to me. I loved how the story unfolded. It kept me guessing without being too confusing. Worth the time and money.
Lisa ClarkJune 23, 2024
Good, but not quite perfect. It held my attention, even if a few things were a little predictable. Enjoyable weekend read.
Emily BrownAugust 08, 2024
Such a great read. I got really invested in the main character's journey. Everything just clicked for me. Will be looking for more from this author.
Robert JohnsonDecember 26, 2024
Took me a few chapters to get into it, but it was worth it. Writing is good, just wish there was a bit more depth in certain parts. Still kept my attention though. Not bad at all.
Susan PhillipsApril 05, 2025
An average read for me. It had some good moments, but the overall plot felt a bit disjointed in the second half. Probably won't read it again, but it was an okay way to pass the time.
Susan PhillipsMarch 28, 2025
A very satisfying read. I got really invested in the main character's journey. Everything just clicked for me. Worth the time and money.
Barbara BrownJuly 15, 2024
Finished it in a couple of days. I got really invested in the main character's journey. Everything just clicked for me. Glad I picked this up.
Jacob CollinsOctober 11, 2024
A very satisfying read. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Will be looking for more from this author.
Steven JacksonApril 27, 2024
Glad someone recommended this to me. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. Worth the time and money.
Ryan WilsonAugust 24, 2024
I was pleasantly surprised. I loved how the story unfolded. It kept me guessing without being too confusing. A solid 5/5 for me.
William RobertsMarch 06, 2024
Glad someone recommended this to me. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Will be looking for more from this author.
Nicholas PhillipsJune 14, 2025
A very satisfying read. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Would probably read it again at some point.
Cynthia AdamsNovember 03, 2024
Pretty good overall. I liked the main character, though some of the side plots were just okay. Not bad at all.
Nicholas CampbellJuly 18, 2025
A solid read. It held my attention, even if a few things were a little predictable. A solid 4 stars from me.
John JacksonApril 15, 2024
It was okay. The writing was fine, but I didn't feel very connected to the characters. They felt a bit flat. Might work better for someone else, just wasn't completely for me.
Margaret HallJune 27, 2025
It was okay. The pacing was a bit slow and I found myself skimming a few pages. It wasn't terrible, just okay. It's fine if you have nothing else to read.
Steven GonzalezFebruary 10, 2025
I liked it for the most part. Interesting premise and executed fairly well. Just a few slow chapters here and there. Enjoyable weekend read.
Betty ThomasJanuary 23, 2025
A very satisfying read. The author did a great job wrapping everything up at the end. No weird plot holes left behind. A solid 5/5 for me.
Margaret YoungMay 06, 2025
Honestly one of the better books I've read lately. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Would probably read it again at some point.
Elizabeth RobinsonSeptember 25, 2025
A very satisfying read. I got really invested in the main character's journey. Everything just clicked for me. Glad I picked this up.
Ashley SanchezMay 12, 2025
A very satisfying read. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Will be looking for more from this author.
Jessica PerezJanuary 05, 2024
Took me a few chapters to get into it, but it was worth it. I liked the main character, though some of the side plots were just okay. A solid 4 stars from me.
Steven HallMay 22, 2024
Such a great read. The author did a great job wrapping everything up at the end. No weird plot holes left behind. Glad I picked this up.
Paul JohnsonSeptember 22, 2025
Really enjoyed this one. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. Glad I picked this up.
Eric MartinOctober 18, 2025
Glad someone recommended this to me. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Will be looking for more from this author.
Amanda PerezOctober 24, 2024
I was pleasantly surprised. I got really invested in the main character's journey. Everything just clicked for me. Glad I picked this up.
Susan HillJuly 05, 2024
It was okay. Some parts were interesting, while others were a bit of a slog to get through. Just right down the middle.
Rebecca HarrisAugust 09, 2025
A solid read. It held my attention, even if a few things were a little predictable. Still a good book.
Joshua ThompsonDecember 03, 2024
Took me a few chapters to get into it, but it was worth it. The middle dragged a tiny bit, but the ending totally made up for it. Still a good book.
Deborah FloresDecember 24, 2024
I liked it for the most part. The middle dragged a tiny bit, but the ending totally made up for it. I'd probably recommend it to a friend.
Charles GarciaOctober 15, 2025
Took me a few chapters to get into it, but it was worth it. The middle dragged a tiny bit, but the ending totally made up for it. Still a good book.
Nicholas JonesMarch 21, 2025
Really enjoyed this one. I loved how the story unfolded. It kept me guessing without being too confusing. Would probably read it again at some point.
Anthony PhillipsOctober 16, 2024
Really enjoyed this one. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. A solid 5/5 for me.
Michelle GonzalezApril 23, 2024
A solid read. Writing is good, just wish there was a bit more depth in certain parts. Still kept my attention though. A solid 4 stars from me.
William RobertsJune 10, 2024
Finished it in a couple of days. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. Will be looking for more from this author.
Barbara TaylorOctober 07, 2025
Honestly one of the better books I've read lately. I got really invested in the main character's journey. Everything just clicked for me. Would probably read it again at some point.
Betty BrownMay 03, 2024
Good, but not quite perfect. Interesting premise and executed fairly well. Just a few slow chapters here and there. Still a good book.
Kevin LopezApril 23, 2024
I liked it for the most part. I liked the main character, though some of the side plots were just okay. I'd probably recommend it to a friend.
John ScottAugust 26, 2024
I was pleasantly surprised. I got really invested in the main character's journey. Everything just clicked for me. Definitely recommend it if you like this genre.
Cynthia TaylorJuly 17, 2024
A very satisfying read. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. Will be looking for more from this author.
Emily JacksonNovember 03, 2024
A solid read. Writing is good, just wish there was a bit more depth in certain parts. Still kept my attention though. Enjoyable weekend read.
James ClarkDecember 20, 2024
It was just alright. It felt a bit repetitive in the middle. Could have been shorter. It's fine if you have nothing else to read.
Daniel FloresJune 20, 2024
A solid read. Interesting premise and executed fairly well. Just a few slow chapters here and there. Still a good book.
Charles AdamsApril 30, 2024
I was pleasantly surprised. I loved how the story unfolded. It kept me guessing without being too confusing. Will be looking for more from this author.
Nancy RamirezApril 19, 2024
I was pleasantly surprised. I loved how the story unfolded. It kept me guessing without being too confusing. Will be looking for more from this author.
Ashley ThompsonJanuary 20, 2025
Finished it in a couple of days. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. Glad I picked this up.
Margaret CampbellMarch 27, 2025
A very satisfying read. I loved how the story unfolded. It kept me guessing without being too confusing. A solid 5/5 for me.
Cynthia RodriguezAugust 15, 2025
Really enjoyed this one. The author did a great job wrapping everything up at the end. No weird plot holes left behind. Glad I picked this up.
Elizabeth RobinsonJuly 05, 2024
I was pleasantly surprised. I loved how the story unfolded. It kept me guessing without being too confusing. Glad I picked this up.
Ashley ThompsonFebruary 19, 2024
A very satisfying read. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. Definitely recommend it if you like this genre.
Christopher LewisJuly 24, 2025
Really enjoyed this one. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Will be looking for more from this author.
Joshua RobinsonDecember 14, 2024
I was pleasantly surprised. I loved how the story unfolded. It kept me guessing without being too confusing. Worth the time and money.
Donald AndersonJune 02, 2024
A very satisfying read. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. A solid 5/5 for me.
Ryan CampbellJanuary 22, 2024
I liked it for the most part. It held my attention, even if a few things were a little predictable. I'd probably recommend it to a friend.
Stephanie JacksonFebruary 16, 2025
A very satisfying read. I got really invested in the main character's journey. Everything just clicked for me. Worth the time and money.
Jennifer LeeMarch 05, 2025
Glad someone recommended this to me. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Glad I picked this up.
Kimberly JacksonMarch 17, 2024
Glad someone recommended this to me. The author did a great job wrapping everything up at the end. No weird plot holes left behind. Glad I picked this up.
Patricia WrightAugust 04, 2025
Really enjoyed this one. I loved how the story unfolded. It kept me guessing without being too confusing. Glad I picked this up.
Patricia TorresFebruary 16, 2024
A very satisfying read. The author did a great job wrapping everything up at the end. No weird plot holes left behind. Would probably read it again at some point.
Emily EvansMarch 18, 2024
Glad someone recommended this to me. I loved how the story unfolded. It kept me guessing without being too confusing. A solid 5/5 for me.
Lisa RamirezDecember 14, 2024
Honestly one of the better books I've read lately. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Worth the time and money.
Kenneth PhillipsApril 24, 2024
Pretty good overall. Interesting premise and executed fairly well. Just a few slow chapters here and there. A solid 4 stars from me.
Deborah KingOctober 03, 2024
Such a great read. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. Glad I picked this up.
Joshua ThomasMarch 27, 2025
It was just alright. Some parts were interesting, while others were a bit of a slog to get through. Just right down the middle.
Daniel LewisAugust 06, 2025
Pretty good overall. I liked the main character, though some of the side plots were just okay. Still a good book.
John DavisDecember 19, 2024
An average read for me. It felt a bit repetitive in the middle. Could have been shorter. Probably won't read it again, but it was an okay way to pass the time.
Ryan EvansJuly 31, 2024
A very satisfying read. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Glad I picked this up.
Sharon GreenDecember 31, 2024
Such a great read. I loved how the story unfolded. It kept me guessing without being too confusing. Glad I picked this up.
Carol MitchellMay 08, 2025
Glad someone recommended this to me. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. Would probably read it again at some point.
Stephanie ThompsonJuly 29, 2024
A very satisfying read. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Would probably read it again at some point.
Deborah ScottApril 18, 2024
Good, but not quite perfect. Writing is good, just wish there was a bit more depth in certain parts. Still kept my attention though. I'd probably recommend it to a friend.
Lisa JonesSeptember 14, 2025
Glad someone recommended this to me. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Glad I picked this up.
Stephanie BakerNovember 20, 2024
Finished it in a couple of days. The writing style is very engaging. It’s easy to follow but still has a lot of depth. A solid 5/5 for me.
Laura ReyesDecember 01, 2024
Glad someone recommended this to me. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Glad I picked this up.
Susan NguyenJune 10, 2024
I was pleasantly surprised. I loved how the story unfolded. It kept me guessing without being too confusing. Worth the time and money.
Donald GarciaAugust 26, 2024
Glad someone recommended this to me. I got really invested in the main character's journey. Everything just clicked for me. A solid 5/5 for me.
Charles LopezJune 02, 2025
I was pleasantly surprised. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. A solid 5/5 for me.
Deborah PerezMay 06, 2024
Not bad, but not my favorite. The writing was fine, but I didn't feel very connected to the characters. They felt a bit flat. Just right down the middle.
Anthony GarciaJuly 04, 2025
Really enjoyed this one. The author did a great job wrapping everything up at the end. No weird plot holes left behind. Worth the time and money.
Linda ThompsonJuly 07, 2024
A solid read. The middle dragged a tiny bit, but the ending totally made up for it. A solid 4 stars from me.
Nicholas HillSeptember 29, 2024
Pretty good overall. I liked the main character, though some of the side plots were just okay. I'd probably recommend it to a friend.
Mary JohnsonMarch 01, 2024
I liked it for the most part. The middle dragged a tiny bit, but the ending totally made up for it. Not bad at all.
Kevin LopezMay 22, 2025
An average read for me. The pacing was a bit slow and I found myself skimming a few pages. It wasn't terrible, just okay. A generous 3 stars.
Joshua BrownJuly 13, 2024
I was pleasantly surprised. The author did a great job wrapping everything up at the end. No weird plot holes left behind. Definitely recommend it if you like this genre.
Emily EvansOctober 26, 2025
Glad someone recommended this to me. The author did a great job wrapping everything up at the end. No weird plot holes left behind. Definitely recommend it if you like this genre.
Daniel CarterJanuary 10, 2025
Good, but not quite perfect. Interesting premise and executed fairly well. Just a few slow chapters here and there. Not bad at all.
Ryan CruzFebruary 08, 2025
A solid read. The middle dragged a tiny bit, but the ending totally made up for it. Not bad at all.
Barbara EdwardsAugust 29, 2025
Finished it in a couple of days. The author did a great job wrapping everything up at the end. No weird plot holes left behind. Glad I picked this up.
Laura MillerFebruary 05, 2024
A solid read. I liked the main character, though some of the side plots were just okay. Enjoyable weekend read.
Robert SmithMay 06, 2024
I was pleasantly surprised. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Glad I picked this up.
Gary AndersonJuly 24, 2025
I was pleasantly surprised. The author did a great job wrapping everything up at the end. No weird plot holes left behind. Definitely recommend it if you like this genre.
Jacob WhiteNovember 03, 2024
Good, but not quite perfect. It held my attention, even if a few things were a little predictable. I'd probably recommend it to a friend.
Daniel RobertsFebruary 19, 2024
I liked it for the most part. It held my attention, even if a few things were a little predictable. Enjoyable weekend read.
Robert RamirezSeptember 22, 2025
Such a great read. I got really invested in the main character's journey. Everything just clicked for me. Would probably read it again at some point.
Eric WhiteJanuary 06, 2025
Really enjoyed this one. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Glad I picked this up.
Elizabeth RiveraDecember 22, 2025
A very satisfying read. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Would probably read it again at some point.
Linda GonzalezJune 09, 2024
I was pleasantly surprised. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Glad I picked this up.
Matthew FloresOctober 14, 2024
A very satisfying read. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Will be looking for more from this author.
Donald GarciaJune 12, 2025
Good, but not quite perfect. Interesting premise and executed fairly well. Just a few slow chapters here and there. Still a good book.
Nicholas BakerJanuary 01, 2025
Such a great read. I loved how the story unfolded. It kept me guessing without being too confusing. Definitely recommend it if you like this genre.
Eric MillerSeptember 25, 2024
I liked it for the most part. Interesting premise and executed fairly well. Just a few slow chapters here and there. Still a good book.
Matthew GomezSeptember 28, 2025
Honestly one of the better books I've read lately. The author did a great job wrapping everything up at the end. No weird plot holes left behind. Will be looking for more from this author.
Nicholas SmithDecember 11, 2025
Such a great read. The author did a great job wrapping everything up at the end. No weird plot holes left behind. Will be looking for more from this author.
Deborah KingApril 18, 2025
Pretty good overall. The middle dragged a tiny bit, but the ending totally made up for it. A solid 4 stars from me.
Laura ReyesJune 01, 2024
Such a great read. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Definitely recommend it if you like this genre.
William CruzFebruary 15, 2025
Honestly one of the better books I've read lately. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Glad I picked this up.
Kevin MillerJanuary 14, 2025
Really enjoyed this one. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Glad I picked this up.
Sandra HarrisNovember 21, 2024
I have mixed feelings about this one. It had some good moments, but the overall plot felt a bit disjointed in the second half. It's fine if you have nothing else to read.
Eric RobertsFebruary 12, 2024
Finished it in a couple of days. The author did a great job wrapping everything up at the end. No weird plot holes left behind. Definitely recommend it if you like this genre.
John ScottMarch 03, 2024
Honestly one of the better books I've read lately. I loved how the story unfolded. It kept me guessing without being too confusing. Would probably read it again at some point.
Lisa ParkerMay 28, 2024
I was pleasantly surprised. The pacing was spot on and the characters felt real. I didn't find myself getting bored at any point. A solid 5/5 for me.
Emily CruzFebruary 07, 2025
A solid read. The middle dragged a tiny bit, but the ending totally made up for it. I'd probably recommend it to a friend.
Steven WalkerDecember 28, 2025
A very satisfying read. It has a good balance of dialogue and description. Everything felt like it moved at the right speed. Definitely recommend it if you like this genre.
Paul MillerJanuary 09, 2024
It was just alright. The writing was fine, but I didn't feel very connected to the characters. They felt a bit flat. A generous 3 stars.
Ryan CampbellFebruary 27, 2025
Finished it in a couple of days. I loved how the story unfolded. It kept me guessing without being too confusing. A solid 5/5 for me.
Emily AdamsOctober 05, 2025
Took me a few chapters to get into it, but it was worth it. Interesting premise and executed fairly well. Just a few slow chapters here and there. A solid 4 stars from me.
Jacob CollinsJanuary 03, 2024
Took me a few chapters to get into it, but it was worth it. The middle dragged a tiny bit, but the ending totally made up for it. Still a good book.
Dorothy AdamsMarch 10, 2025
Good, but not quite perfect. It held my attention, even if a few things were a little predictable. Enjoyable weekend read.
Karen AdamsNovember 14, 2024
Finished it in a couple of days. The author did a great job wrapping everything up at the end. No weird plot holes left behind. A solid 5/5 for me.
Lisa JonesMay 06, 2025
A very satisfying read. I loved how the story unfolded. It kept me guessing without being too confusing. A solid 5/5 for me.
Susan PerezOctober 31, 2024
Good, but not quite perfect. It held my attention, even if a few things were a little predictable. Enjoyable weekend read.
Steven HallJanuary 01, 2024
Took me a few chapters to get into it, but it was worth it. Writing is good, just wish there was a bit more depth in certain parts. Still kept my attention though. Not bad at all.
Ryan PerezOctober 22, 2024
Glad someone recommended this to me. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Will be looking for more from this author.
Sharon RodriguezAugust 03, 2024
I was pleasantly surprised. The author did a great job wrapping everything up at the end. No weird plot holes left behind. Definitely recommend it if you like this genre.
Edward PerezMay 24, 2024
I was pleasantly surprised. The writing style is very engaging. It’s easy to follow but still has a lot of depth. Glad I picked this up.
