Book 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…
- Coming soon!
Why read it?
1 author picked The Kelly Capital Growth Investment Criterion as one of their favorite books. Why do they recommend it?
Ed Thorp is one of the most successful quantitative investors of all time. He proved the advantages of a systematic approach to take advantage of special edges that occur from time to time in markets and even games of chance – such as card counting in Blackjack.
The underlying strategy is to maximize the expected log of capital – sometimes called the growth optimal or Kelly strategy. This strategy has multiple benefits but can suffer from limitations – as reviewed in this book – including the chances of large drawdown during shorter time periods.
Still, the growth optimal strategy provides…
From John's list on The best books on how to achieve your financial goals.
If you love The Kelly Capital Growth Investment Criterion...
December on 5C4
Magical realism meets the magic of Christmas in this mix of Jewish, New Testament, and Santa stories–all reenacted in an urban psychiatric hospital!
On locked ward 5C4, Josh, a patient with many similarities to Jesus, is hospitalized concurrently with Nick, a patient with many similarities to Santa. The two argue…
Want books like The Kelly Capital Growth Investment Criterion?
Our community of 13,000+ authors has personally recommended 8 books like The Kelly Capital Growth Investment Criterion.
Browse books like The Kelly Capital Growth Investment Criterion
Share your top 3 reads of 2026!
And get a beautiful page showing off your 3 favorite reads.
190
readers submitted
so far, will you?
📚 If you like The Kelly Capital Growth Investment Criterion, you might also like...
Broken Boots, Redeemed Soul: A Veteran’s War with Sin and Salvation
Broken Boots, Redeemed Soul: A Veteran’s War with Sin and Salvation, is a raw and faith-centered memoir about life after military service—and the internal battles many never see. Brian Lofton shares his journey through addiction, shame, identity loss, and spiritual distance, revealing how the hardest struggles often begin after…
No Color Is My Kind
No Color is My Kind tells the stories of the desegregation of Houston, TX, in 1960, the life of civil rights leader Eldrewey Stearns, and the author's relationship to Stearns.
They met in a psychiatric case conference while Stearns was hospitalized at the University of Texas Medical Branch. After his…
