Description: About this Item The item is a book Hardback The Title is Kelly Capital Growth Investment Criterion, The: Theory And Practice : 3 Condition New Other Comments Pages Count - 882. Binding type - Hardcover. Content Language - English Category - BUSINESS & ECONOMICS / Investments & Securities / General BUSINESS & ECONOMICS / Finance / General Product Description - This 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, the strategy is risky in the short term but as the number of bets increase, the Kelly bettor's wealth tends to be much larger than those with essentially different strategies. So most of the time, the Kelly bettor will have much more wealth than these other bettors but the Kelly strategy can lead to considerable losses a small percent of the time. There are ways to reduce this risk at the cost of lower expected final wealth using fractional Kelly strategies that blend the Kelly suggested wager with cash. The various classic reprinted papers and the new ones written specifically for this volume cover various aspects of the theory and practice of dynamic investing. Good and bad properties are discussed, as are fixed-mix and volatility induced growth strategies. The relationships with utility theory and the use of these ideas by great investors are featured. We Use Stock Images Because we have over 2 million items for sale we have to use stock images, this listing does not include the actual image of the item for sale. The purchase of this specific item is made with the understanding that the image shown in this listing is a stock image and not the actual item for sale. For example: some of our stock images include stickers, labels, price tags, hyper stickers, obi's, promotional messages, signatures and or writing which may not be available in the actual item. When possible we will add details of the items we are selling to help buyers know what is included in the item for sale. The details are provided automatically from our central master database and can sometimes be wrong. Books are released in many editions and variations, such as standard edition, re-issue, not for sale, promotional, special edition, limited edition, and many other editions and versions. The Book you receive could be any of these editions or variations. If you are looking for a specific edition or version please contact us to verify what we are selling. Gift IdeasThis is a great Christmas gift idea. Hours of ServiceWe have many warehouses, some of the warehouses process orders seven days a week, but the Administration Support Staff are located at a head office location, outside of the warehouses, and typically work only Monday to Friday. Location ID 9000z iHaveit SKU ID 166360651
Price: 379.73 USD
Location: US
End Time: 2025-02-14T08:53:11.000Z
Shipping Cost: 5.21 USD
Product Images
Item Specifics
Restocking Fee: No
Return shipping will be paid by: Buyer
All returns accepted: Returns Accepted
Item must be returned within: 30 Days
Refund will be given as: Money Back
Fiction/Non-Fiction: Non-Fiction
Genre/Subject: BUSINESS & ECONOMICS / Investments & Securities / General
Narrator/Voice Actors: NA
Length: 244.09
Running Time: NA
Special Attributes: NA
Age Level: NA
Modified Item: NA
Modification Description: NA
Title: Kelly Capital Growth Investment Criterion, The Theory And Practi
Series: NA
Signed: NA
Inscribed: NA
Personalized: NA
California Prop 65 Warning: NA
Weight: 1.59
Publisher: World Industries Scientific Publishing Co Pte LTD
Book Title: Kelly Capital Growth Investment Criterion : Theory and Practice
Publication Year: 2010
Topic: Game Theory, Finance / General, Investments & Securities / Analysis & Trading Strategies, Investments & Securities / General
Number of Pages: 900 Pages
Language: English
Illustrator: Yes
Genre: Mathematics, Business & Economics
Item Weight: 0.1 Oz
Author: Edward O . Thorp, William T. Ziemba, Leonard C. Maclean
Format: Hardcover