"Investopedia" resorts to the same type of simplification:
DEFINITION of 'The Kelly Criterion' A mathematical formula relating to the long-term growth of capital developed by John Larry Kelly Jr. The formula was developed by Kelly while working at the AT&T Bell Laboratories. The formula is currently used by gamblers and investors to determine what percentage of their bankroll/capital should be used in each bet/trade to maximize long-term growth.
---In vpFREE@yahoogroups.com, <nightoftheiguana2000@...> wrote :
vp_wiz: "Kelly is about maximizing bankroll growth."
That's an overly simple summary of the Kelly criterion.
[Non-text portions of this message have been removed]
Posted by: harry.porter@verizon.net
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