Mr. Bochman,

Thank you for your views on the Kelly Criterion. I'm "surprised and encouraged", as Ed Thorp would say at how little is known by so many - in this case on the Kelly Criterion itself, as evidenced by formulas such as
f* = p - q/b rather than f* = p/a - q/b and the like, with "a" being the fraction of the player's account they stand to lose. With sloppy math like that, why should anyone trust an "investment advisor" with their hard-earned money? It's just amazing how far up the academic ladder this goes. By minimizing "a", you can amplify "f*" in a scientifically precise way and reap the benefits - by maximizing it as far as it says you can and by using any remainder as insurance. Nice to meet an MBA who can do math!