I never said it used the Kelly Criteria. What I (and Tomski) said was, his
simple estimate gave a "Kelly bankroll" which has about a 13.5% ROR. Once I
had that bankroll number, I could easily convert it to any ROR I felt
comfortable with, or just use that number to compare the risk of different plays.
At any rate, since I trusted the author (Tomski's math skill is well
known!), and Dan's judgment (he must have accepted the estimate as being reasonable,
or he wouldn't have printed the article), I have used Tomski's simple
approximation ever since.
Glad we cleared this up! My thanks to Dan and Ednar!
Brian
ยทยทยท
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In a message dated 8/24/2005 11:11:12 AM Pacific Standard Time,
Dan@OptimumPlay.com writes:
Right, but Tomski's approximation does not utilize the Kelly
Criterion. It is more closely related to my Attractiveness Index.
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