₹1995
Inclusive of all taxes
Qty
Buying in bulk?
In Stock
Guaranteed Service
Free Home Delivery
above ₹199
Check Delivery
Enter pincode for exact delivery dates / charges and to know if express delivery is available
Kelly Capital Growth Investment Criterion
by Leonard C Maclean, Edward O Thorp (Author),
World Scientific (Publisher)
Product Specifications
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
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
Book Specifications
ISBN-13 9789814383134
Language English
Binding Paper Back
Publisher World Scientific
Publishing Date 2011-02-11
Product Edition 1
Total Pages 884