The Kelly Criterion And Value Investing
Even though it's not a widely known term, the Kelly Criterion is a very unique and important tool for value investors who want to generate the best returns. Even if you're not aware of it, you're likely to be using a version of this tool in your portfolio.
The Kelly criterion is a tool you can use to help decide how much weight you should give each position in a portfolio. Invented by John Kelly, who was originally employed at Bell Labs, the formula enables you to calculate how much of your bankroll you should bet on . . .
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