There is a deep connection between Bernoulli's dictum and John Kelly's 1956 publication. It turns out that Kelly's prescription can be restated as this simple rule: When faced with a choice of wagers or investments, choose the one with the highest geometric means of outcomes.
Quoth she, I 've heard old cunning stagers Say fools for arguments use wagers.
I've heard old cunning stagers Say, fools for arguments use wagers.
Courtiers don’t take wagers against the king’s skill. There is the deadly danger of winning.Isaac Asimov
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