Hello TraderNick, Agreed.
I also bookmarked the bjmath site for the links it contains, while ignoring the bj21 site. I rate Dr Thorp highly (and also the company he keeps). It is annoying to find so many trading commentators recycling the same old stuff, that invariably originates from a few brilliant thinkers. It's good, for a change, to come across the work of one of the seminal thinkers in money management, especially as the links provide a copy of an *academic paper*, which hasn't found it's way into commercial print. I find it interesting that MM appears to have it's roots in game theory. While I don't agree word for word with his conclusions, I find the Kelly Criterion article packed with important and/or interesting points. It is a pity that his comments on application to the market aren't a little more conclusive. While he doesn't provide all of the answers he does provide us with a way in. By the way, I'm going easy on the f* Brian. *Progress in knowledge results more from efforts to find faults with our theories, rather than prove them* Karl Popper. --- In [email protected], Nick Busigin <[EMAIL PROTECTED]> wrote: > > On Wed, 31 Jan 2007, brian.z123 wrote: > > > I recently stumbled over a download to some PDF files by Dr Edward O > > Thorp, mathematician and trader, that might interest some. > > ... > > http://www.arbtrading.com/kelly.htm > > > > or go to the homepage: > > > > http://www.arbtrading.com/index.htm > > > > >Money Management>Kelly Formula > > > > > > Brian O:-) (The Saint) > > Thanks for the link Brian (The Saint). It looks like interesting > reading and comes at a time when I am revisiting the topic of position > sizing. > > Another interesting site which I found from exploring the one you > sent in is: > > http://www.bjmath.com/bjmath/feature.htm > > Nick > -- >
