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Kelly Can't Fail

(win-vector.com)
389 points jmount | 1 comments | 19 Dec 24 23:07 UTC | HN request time: 0.212s | source
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fancy_pantser ◴[20 Dec 24 02:47 UTC] No.42467818[source]▶
A very similar card game played by deciding when to stop flipping cards from a deck where red is $1 and black is −$1 as described in Timothy Falcon’s quantitative-finance interview book (problem #14). Gwern describes it and also writes code to prove out an optimal stopping strategy: https://gwern.net/problem-14
replies(2): >>42468005 #>>42468277 #
1. jmount ◴[20 Dec 24 03:24 UTC] No.42468005[source]▶
That is a nice game and writeup.