Money Management, Kelly Criterion and the Stock Market
It all starts with a simple game: A coin has 80% chance of flipping a HEAD and 20% chance of flipping a tail. At each turn of the game you place a bet. If the coin flips a HEAD, you get back twice the amount you bet. If the coin flips a TAIL, you lose your bet. You have $10 available for betting, and you can play as many turns as you can afford. The question is: Would you play […]
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