funny.young.guy wrote: "Again, that's missing the forest for the trees. The greatest difference for Kelly is that it's the optimal number to *grow* your bankroll. Mentioning ROR is for allegory, choose any other formula you want, it doesn't matter. But using Kelly to keep you from going broke is like using a Ferrari to go to the grocery store. You *could* do that, but there's better ways and a misuse of the Ferrari . . ."
Seems like a lot of misinformation here. ROR is a centerpiece of Kelly, not an "allegory". And there is only one formula for ROR, not multiple formulas as you imply. And a feature of Kelly is that there is zero chance of going broke. Seems like the only way to go to the grocery store, assuming you don't want to take any chance of going broke and you want to minimize the number of hands it takes to double your bankroll. If you want to minimize risk, there is minROR strategy. But you still need Kelly to tell you when to stop, before you go broke. Far from being a Ferrari, Kelly is like the brake, sure you might make it to the grocery store without needing to brake, but that's hardly the low risk way to travel. Kelly tells you the mathematical point to brake. The ROR formula asks you what risk you are willing to take that you needed to brake, assuming you will go ahead anyway, to your death if that's what the fates allow.
Posted by: nightoftheiguana2000@yahoo.com
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