I thought something like this the first time I saw abramdemski’s pushback. Then I actually did the math in some simple cases. Try doing the math to find a sequence where Kelly beats naive wealth maximization. You will convince either yourself or abramdemski!
I thought something like this the first time I saw abramdemski’s pushback. Then I actually did the math in some simple cases. Try doing the math to find a sequence where Kelly beats naive wealth maximization. You will convince either yourself or abramdemski!