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This is mathematically wrong but in a pretty subtle way. It's not really going to fit into a tweet but

@danrobinson

I'd be happy to have a call/chat/podcast/debate/etc. with you on it :)

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Dan Robinson

@danrobinson

Dec 2, 2020

tl;dr: AMM skeptics blown the fuck out twitter.com/danrobinson/st…

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and

Which step do you think contains an error? math.dartmouth.edu/~mtassy/articl

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and

It's trying to maximize EV[log(wealth)] instead of EV[wealth]. This is probably wrong in and of itself as an assumption to make. But if you *do* want to make that assumption, then e.g. you have to consider all of your assets that don't have anything to do with the pool.