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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.
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 ...
An Unmarried Woman is a 1978 American romantic comedy-drama film written and directed by Paul Mazursky and starring Jill Clayburgh, Alan Bates, Michael Murphy, and Cliff Gorman. The film was nominated for three Academy Awards : Best Picture , Best Original Screenplay , and Best Actress (Clayburgh).
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 .
Edith Claire Head (née Posenor, [1] October 28, 1897 – October 24, 1981) was an American film costume designer who won a record eight Academy Awards for Best Costume Design [3] between 1949 and 1973, making her the most awarded woman in the Academy's history. Head is considered to be one of the greatest and most influential costume designers ...
The Country Girl is a 1954 American drama film written and directed by George Seaton and starring Bing Crosby, Grace Kelly, and William Holden.Adapted by Seaton from Clifford Odets's 1950 play of the same name, the film is about an alcoholic has-been actor who is given one last chance to resurrect his career.