Re: [vpFREE] Why you should care about the Kelly criterion

 

James Bean wrote: "You must always wager *at* the KC number."

That's a common misconception of the Kelly criterion. Most Kelly advocates bet less than the optimal Kelly bet, rarely if ever going to the very edge of full Kelly. The reason is that less than Kelly is less average bankroll growth but less risk, that's always a reasonable tradeoff. More than Kelly is less average bankroll growth but more risk, that's not a reasonable tradeoff for someone that values their bankroll.

__._,_.___
Reply via web post Reply to sender Reply to group Start a New Topic Messages in this topic (6)
.

__,_._,___