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he talked about his bets. "I probably would have made a lot more profit if I hadn't told anyone else about this - because I did that I couldn't eliminate other computer research groups from getting into the field." this field and earn millions." -He told a journalist. "But it's really hard to keep it a secret because I can't keep quiet."

William Ziemba estimates that a group of top-notch computer users in Hong Kong can make up to $100 million in a good season, with half going to the boss. Woods claims to make $150 million. For Ziemba, racetracks are models of a stock market. The people who set tech stock prices and betting levels are entirely fallible human beings. Both types of speculation are motivated by profit. This cannot guarantee a perfectly efficient market.

Woods spends like a free-spirited James Bond. He built a house in Manila, close enough to Hong Kong to use fiber optic cables to transmit money-making data. When he was in his 50s, Woods became a recluse, rarely leaving his luxurious apartment with good-looking maids. When he needs anything, he just calls the waiter or his Philippine girlfriend to get it for him. He admitted in an interview: "I like to go to bars with hot girls in Makati. I only go out a few nights a month, but when I do, I usually take about one or two girls, maybe even more."

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