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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.
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]
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.
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 ...
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]
Dailymotion is a French online video sharing platform owned by Canal+. Prior to 2024, the company was owned by Vivendi . [ 3 ] North American launch partners included Vice Media , Bloomberg , and Hearst Digital Media . [ 4 ]
Episodes Transmission dates 1979: 13 [1] [fn 1] 25 September – 18 December 1980: ... Tony Benn, Alan Duncan, Jude Kelly, Emma Nicholson: 620 8 5 March 1998
The company was founded in 1984 by Robert Stein, Aleen Stein and Joe Medjuck, who later were joined by Roger Smith.In 1985, the Steins, William Becker and Jonathan B. Turell founded the Voyager Company [8] to publish educational multimedia CD-ROMs (1989–2000), [8] [9] and the Criterion Collection became a subordinate division of the Voyager Company, with Janus Films holding a minority stake ...