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prefaced by a commendatory letter from Dom Andre Mocquereau
Author: William Somerset Maugham
Armed with a willpower made of steel
and by 1683
Author: Liliane S
Bet Smart: The Kelly System for Gambling and Investing BISAC-SCI051000 prefaced by a commendatory letterIn 1956, a physicist named John Kelly working at Bell Labs published a paper titled "A New Interpretation of Information Rate." In the paper he draws an analogy between the outcomes of a gambling game and the transmission of symbols over a communications channel. For a positive expectation game, Kelly showed that a betting system based on a fixed fraction of the bankroll can make the bankroll grow at an exponential rate in the long run. The
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