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please define "Kelly optimizes for total wealth" I disagree for many reasonable definitions of it. For some it's true!

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wait if it's not an iterated bet? what if it's just a single bet?

8:14 AM · Dec 14, 2020Twitter Web App

That One Guy in Crypto

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yeah but if those bets won't all be the same then what a kelly calculator spits out won't necessarily have a very high chance of having a better outcome

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to be clear your claim is not true if it's just a single bet, it's only true in a very specific case (infinite repeated identical bets)

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All bets made in one's life is a series of iterations regardless of the events, are they not?

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sure but they're not all the same bet, and you can get different answers in that case

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