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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?

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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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your extremely strong claims are only true for a very specific instance (infinite repeated identical bets where you can only have a constant strategy)

8:22 AM · Dec 14, 2020Twitter Web App

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anyway I should stop spending time on this, guess we'll have to agree to disagree

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let's say there are 3 bets: 75% coinflip, 51% die roll, 51% wheel spin; all are 1:1 payout. You follow Kelly, I follow "kelly except bet 1% more on the coinflip". What's the sense in which yours "maximizes growth" better than mine?

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