nightoftheiguana2000@yahoo.com wrote:
>007 wrote: "It wold have to be a professional who knows enough to have positive EV but who is so blind to the danger of overbetting that s/he'll still lose. I think that's rare. I don't think "Fortune's Formula" made that case."
>
>Of the professional gamblers that you know, how many have gone bankrupt at least once?
Many may have, but I don't know to what extent it was due to
overbetting with positive expectation and to what extent it was due to
playing with negative expectation. An implication in your question is
another reason to place less emphasis on the Kelly Criterion, since it
operates in the vacuum of not being able to replenish a lost bankroll.
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