I have supported myself for almost a decade now via speculation / gambling / arbitrage. I almost never find the Kelly criterion all that useful in my own life. If a bet is really juicy go as hard as you can while finding the downside tolerable. If a bet isn’t QUITE JUICY I usually pass.
Yeah, I’d expect that for that strategy you would not want to use the Kelly criterion, and it seems more useful when you’re relatively uncertain about the quality of your bet.
I have supported myself for almost a decade now via speculation / gambling / arbitrage. I almost never find the Kelly criterion all that useful in my own life. If a bet is really juicy go as hard as you can while finding the downside tolerable. If a bet isn’t QUITE JUICY I usually pass.
Yeah, I’d expect that for that strategy you would not want to use the Kelly criterion, and it seems more useful when you’re relatively uncertain about the quality of your bet.