Since the late 1960s, Thorp has used his knowledge of probability and statistics in the stock market by discovering and exploiting a number of pricing in the securities markets. Thorp is currently the President of Edward O. Thorp &amp; Associates, based in Newport Beach, CA. In May 1998, Thorp reported that his personal investments yielded an annualized 20 percent rate of return averaged over 28.5 years.