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  2. Kelly criterion - Wikipedia

    en.wikipedia.org/wiki/Kelly_criterion

    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.

  3. John Larry Kelly Jr. - Wikipedia

    en.wikipedia.org/wiki/John_Larry_Kelly_Jr.

    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.

  4. Gambling and information theory - Wikipedia

    en.wikipedia.org/wiki/Gambling_and_information...

    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 ...

  5. Proebsting's paradox - Wikipedia

    en.wikipedia.org/wiki/Proebsting's_paradox

    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]

  6. Edward O. Thorp - Wikipedia

    en.wikipedia.org/wiki/Edward_O._Thorp

    Thorp wrote many articles about option pricing, Kelly criterion, statistical arbitrage strategies (6-parts series), [18] and inefficient markets. [19] In 1991, Thorp was an early skeptic of Bernie Madoff's supposedly stellar investing returns which were proved to be fraudulent in 2008. [20]

  7. Tamzin Hadasa Kelly - Wikipedia

    en.wikipedia.org/wiki/Tamzin_Hadasa_Kelly

    Tamzin Hadasa Kelly was born in 1995 or 1996 [1] as Thomas Harrison Kelly. [† 1] Their [a] parents are Michael Kelly and Madelyn Kelly. [2] They have a younger brother. [1] His father died covering the Iraq War as a journalist for The Atlantic in 2003. [3] A college fund was then arranged for him and his brother.

  8. Talk:Kelly criterion - Wikipedia

    en.wikipedia.org/wiki/Talk:Kelly_criterion

    The Kelly criterion assumes that only one bet is available during each time period, and maximizes the growth over time by using that one opportunity to its fullest. If however multiple bets are available at any given time, that run in parallel and whose outcomes are not completely correlated, then it makes sense to distribute a smaller amount ...

  9. Moira Kelly - Wikipedia

    en.wikipedia.org/wiki/Moira_Kelly

    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 .