For reasons mathematical, psychological, and sociological, … - William Poundstone

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For reasons mathematical, psychological, and sociological, it is a good idea to use a money management system that is relatively forgiving of estimation errors.

William Poundstone

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About William Poundstone

William Poundstone is an American author, columnist, and skeptic. He has written a number of books including the Big Secrets series and a biography of Carl Sagan. He is a cousin of comedian Paula Poundstone.

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John Kenneth Galbraith Paul Samuelson Nassim Nicholas Taleb John Maynard Keynes Benoit Mandelbrot

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Paradox is thus a much deeper and universal concept than the ancients would have dreamed. Rather than an oddity, it is a mainstay of the philosophy of science.

To hedge the bets he made every working day, Meriwether kept a set of rosary beads in his briefcase.

There is a deep connection between Bernoulli's dictum and John Kelly's 1956 publication. It turns out that Kelly's prescription can be restated as this simple rule: When faced with a choice of wagers or investments, choose the one with the highest geometric means of outcomes.

For reasons mathematical, psychological, and sociological, it is a good idea to use a money management system that is relatively forgiving of estimat… - William Poundstone

About William Poundstone

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