Kelly Capital Growth Investment Criterion, The: Theory And Practice Lloyd C. Gardner Since the 70's

Since the 70's

Networking has garnered a reputation as a sort of necessary evil in the modern business world

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Kelly Capital Growth Investment Criterion, The: Theory And Practice Lloyd C. Gardner Since the 70'sThis volume provides the definitive treatment of fortune's formula or the Kelly capital growth criterion as it is often called. The strategy is to maximize long run wealth of the investor by maximizing the period by period expected utility of wealth with a logarithmic utility function. Mathematical theorems show that only the log utility function maximizes asymptotic long run wealth and minimizes the expected time to arbitrary large goals. In general,