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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.
Family Pictures is a 1993 American made-for-television drama film based on the novel of the same name by Sue Miller. It was directed by Philip Saville and stars Anjelica Huston , Sam Neill , Kyra Sedgwick , and Dermot Mulroney .
Kelly betting or proportional betting is an application of information theory to investing and gambling. Its discoverer was John Larry Kelly, Jr. Part of Kelly's insight was to have the gambler maximize the expectation of the logarithm of his capital, rather than the expected profit from each bet. This is important, since in the latter case ...
In probability theory, Proebsting's paradox is an argument that appears to show that the Kelly criterion can lead to ruin. Although it can be resolved mathematically, it raises some interesting issues about the practical application of Kelly, especially in investing. It was named and first discussed by Edward O. Thorp in 2008. [1]
Moira Kelly (born March 6, 1968) [2] is an American actress. She is known for portraying Kate Moseley in the 1992 film The Cutting Edge as well as single mother Karen Roe on the teen drama One Tree Hill .
Also in celebration of Criterion's 40th anniversary, the Criterion Collection 40 box set (abbreviated to CC40) was announced in the summer of 2024 which consists of 40 "of the films most frequently selected from the closet" and includes "all of the special features from their stand-alone editions" as well as a series of essays. [15]
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