[3/0/07] Munger comments on the Kelly Criterion
[11/2/06] Emil Lee demonstrates how to calculate the Kelly Formula
[10/6/06] Suppose there were a simple and elegant formula that helped you to maximize your long-term investment returns while minimizing the risk of total ruin. Sounds like something you'd like to use for your portfolio, doesn't it? In his recent book, Fortune's Formula, author William Poundstone details the development, use, and criticism of an equation that purports to do just what I have described. It is known as the Kelly Formula.
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