The best strategy is one that offers the highest compound return consistent with no risk of going broke.
Samuelson, however, hedged his personal bets - by putting some of his own money in Berkshire Hathaway. - William Poundstone
Samuelson, however, hedged his personal bets - by putting some of his own money in Berkshire Hathaway.
- William Poundstone
The story of the Kelly system is a story of secrets - or if you prefer, a story of entropy. - William Poundstone
The story of the Kelly system is a story of secrets - or if you prefer, a story of entropy.
The ultimate compound return rate is acutely sensitive to fat tails. - William Poundstone
The ultimate compound return rate is acutely sensitive to fat tails.
A bit is worth 10,000 basis points. - William Poundstone
A bit is worth 10,000 basis points.
Use "entropy" and you can never lose a debate, von Neumann told Shannon - because no one really knows what "entropy" is. - William Poundstone
Use "entropy" and you can never lose a debate, von Neumann told Shannon - because no one really knows what "entropy" is.
Expectation is a statistical fiction, like having 2.5 children. - William Poundstone
Expectation is a statistical fiction, like having 2.5 children.
The best strategy is one that offers the highest compound return consistent with no risk of going broke. - William Poundstone
In real conversations, we are always trying to outguess each other. - William Poundstone
In real conversations, we are always trying to outguess each other.
The best paradoxes raise questions about what kinds of contradictions can occur-what species of impossibilities are possible. - William Poundstone
The best paradoxes raise questions about what kinds of contradictions can occur-what species of impossibilities are possible.
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