Why We Should Not Make Mean Log of Wealth Big Though Years to Act Are Long

Paul Samuelson

Chapter 34 in The Kelly Capital Growth Investment Criterion:Theory and Practice, 2011, pp 491-493 from World Scientific Publishing Co. Pte. Ltd.

Abstract: He who acts in N plays to make his mean log of wealth as big as it can be made will, with odds that go to one as N soars, beat me who acts to meet my own tastes for risk…

Keywords: Kelly Criterion; Dynamic Investment Analysis; Capital Growth Theory; Sports Betting; Hedge Fund Strategies; Speculative Investing; Fortune 's Formula (search for similar items in EconPapers)
Date: 2011
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Journal Article: Why we should not make mean log of wealth big though years to act are long (1979)
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