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Example of the optimal Kelly betting fraction, versus expected return of other fractional bets. In probability theory, the Kelly criterion (or Kelly strategy or Kelly bet) is a formula for sizing a sequence of bets by maximizing the long-term expected value of the logarithm of wealth, which is equivalent to maximizing the long-term expected geometric growth rate.
John Larry Kelly Jr. (December 26, 1923 – March 18, 1965), was an American scientist who worked at Bell Labs. From a "system he'd developed to analyze information transmitted over networks," from Claude Shannon's earlier work on information theory , he is best known for his 1956 work in creating the Kelly criterion formula.
Briargrove is a neighborhood in Houston, Texas, United States, near Uptown Houston. Briargrove was established in the 1950s with one-story ranch homes built in the 1950s and 1960s. [1] Deed restrictions in the neighborhood were modified in 1986 to allow for 1 + 1 ⁄ 2-story and two-story homes. Afterwards some of the older ranch homes were ...
May's lawyers subpoenaed President Bush to testify at the trial, [16] but Texas judge John K. Dietz threw out the subpoena on the grounds that the then-governor was not in a position to have enough specialized information to require his involvement. [17] The lawsuit was settled in 2001 for more than US$200,000 (equivalent to US$355,159 in 2024).
Houston Community College Alief Campus, opened in 2007, is located along Westheimer in Westchase. [58] In 2017, the West Houston Institute, a STEM-focused facility, opened adjacent to HCC Alief. [59] American InterContinental University, a for-profit institution, operates its Houston campus in the district. [60]
The Energy Corridor is a business district in Houston, Texas, located on the west side of the metropolitan area between Beltway 8 and the Grand Parkway.The district straddles a 7-mile (11 km) stretch of Interstate 10 (the Katy Freeway) from Kirkwood Road westward to Barker Cypress Road and extends south along Eldridge Parkway to Briar Forest Drive.
From the 1920s onward the neighborhood was a hub of activity. Insurance maps housed in the Houston Metropolitan Research Center show a bustling neighborhood full of homes, grocery stores, bars and other small businesses. Cottage Grove Grocery Store, 1919 Detering (Demolished during I-10 Construction)
I think this is probably what is meant by "Kelly criterion" -- which means that the Kelly criterion is not in fact a formula at all. If that's right then the article should be corrected. Otherwise, it should be explicitly stated which formula is the one called "Kelly criterion." Nathaniel Virgo 01:37, 27 February 2023 (UTC) @Nathanielvirgo