4 ms·
https://en.wikipedia.org/wiki/Kelly_criterion https://en.wikipedia.org/wiki/Kelly_criterion may be of interest.
by lgas 4y ago
https://en.wikipedia.org/wiki/Kelly_criterion https://en.wikipedia.org/wiki/Kelly_criterion may be of interest.
- sokoloff 4y agoOne major problem here is that many players dramatically overestimate their edge.
- lgas 4y agoA problem for those players, an opportunity for others :)
- sokoloff 4y agoTrue! Reminds me of: https://en.m.wikipedia.org/wiki/Chinese_word_for_%22crisis%22 https://en.m.wikipedia.org/wiki/Chinese_word_for_%22crisis%2...
- kqr 4y agoOne of the rules of thumb you quickly learn when studying the Kelly criterion is that overestimation can lead to ruin, underestimation can at worst lead to slower growth.