Against the Gods

Against the Gods is a book on the mathematical concepts of game theory and how gaming odds lead (eventually) to risk managment and the insurance industry

How Llyods of London was created by a group of existing individual underwriters in a coffee shop (not tea) on the wharf near the Thames.

The sea captains used to gather at the coffee shop to share what they knew of vessels and shipments and the underwritiers used to take their chances on the cargo reaching its destination

The book starts out in prehistory, and ends with Black/Schoales theory of option pricing or actually uncertaity of risk pric emodeling.

It is fascinating.

I highly reccommend it to market players, insurance buyers, or sellers, and history buffs.