Kelly was aware that there is one type of favorable bet ava… - William Poundstone

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Kelly was aware that there is one type of favorable bet available to everyone; the stock market.

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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The story of the Kelly system is a story of secrets - or if you prefer, a story of entropy.

Expectation is a statistical fiction, like having 2.5 children.

Carl Friedrich Gauss, often rated the greatest mathematician of all time, played the market. On a salary of 1,000 thalers a year, Euler left an estate of 170,587 thalers in cash and securities. Nothing is known of Gauss's investment methods.

Kelly was aware that there is one type of favorable bet available to everyone; the stock market. - William Poundstone

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