"and actually it probably
originates with stock traders."
The keepers of the "science of variance" are Acutuaries.
See: http://www.variancejournal.org/
"....Variance: Advancing the Science of Risk is published semi-annually by the Casualty Actuarial Society. Its peer-reviewed articles focus on original practical and theoretical research in non-life actuarial science and related areas in the science of risk. And it puts practical and relevant research in the hands of practitioners more quickly than ever before..."
The Wizard of Odds is an Actuary (3rd level of priesthood I belive).
--- In vpFREE@yahoogroups.com, "nightoftheiguana2000" <nightoftheiguana2000@...> wrote:
>
> N0 (N-zero) is the tipping point.
> What is N0 you ask?
> N0 = variance/(edge^2) hands
> At less than N0 hands, luck (standard deviation) dominates, at more than N0 hands, skill (edge) dominates, at exactly N0 hands the two are equal.
> The term comes from one of the blackjack books, I forget which one. Of course it applies to any gamble, which includes the stock market, and actually it probably originates with stock traders.
>
> http://members.cox.net/vpfree/Bank_NO.htm
