||115 of 123 people found the following review helpful.| Finally, a compendium of the most rigorous research (gamblers ruin based) on risky decisions|By N N Taleb|There are two methods to consider in a risky strategy.
1) The first is to know all parameters about the future and engage in optimized portfolio construction, a lunacy unless one has a god-like knowledge of the future. Let us call it Markowitz-style. In ord||"This is a fantastic reference covering the theory and practice of the field beautifully organized and produced. I have already used it and I will refer it to my students and colleagues." -- Professor David G Luenberger, Stanford University | "Thi
This volume provides the definitive treatment of fortune's formula or the Kelly capital growth criterion as it is often called. The strategy is to maximize long run wealth of the investor by maximizing the period by period expected utility of wealth with a logarithmic utility function. Mathematical theorems show that only the log utility function maximizes asymptotic long run wealth and minimizes the expected time to arbitrary large goals. In general, the strategy is...
[PDF.uu65] The Kelly Capital Growth Investment Criterion:Theory and Practice: 3 (World Scientific Handbook in Financial Economics Series) Rating: 4.57 (537 Votes)
The Kelly Capital Growth Leonard C MacLean, Edward O Thorp, William T Ziemba epub The Kelly Capital Growth Leonard C MacLean, Edward O Thorp, William T Ziemba pdf download The Kelly Capital Growth Leonard C MacLean, Edward O Thorp, William T Ziemba review The Kelly Capital Growth Leonard C MacLean, Edward O Thorp, William T Ziemba summary The Kelly Capital Growth Leonard C MacLean, Edward O Thorp, William T Ziemba textbooks The Kelly Capital Growth Leonard C MacLean, Edward O Thorp, William T Ziemba Free
You can specify the type of files you want, for your device.The Kelly Capital Growth Investment Criterion:Theory and Practice: 3 (World Scientific Handbook in Financial Economics Series) | Leonard C MacLean, Edward O Thorp, William T Ziemba. Just read it with an open mind because none of us really know.
