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4min chapter
TIP546: The Holy Grail of Long-Term Value Investing
We Study Billionaires - The Investor’s Podcast Network
The Kelly Formula to Determine the Best Bet Size for a Given Set of Probabilities and Payoffs
The Kelly formula can be used to determine the optimal bet size for a given set of probabilities and payoffs. The best investors are not making big decisions frequently, but Godum does use it to help guide his own investing process. Every bust in one area of the market establishes the foundations for a boom in another. Money has a metaphysical like attraction to places of its best possible use.
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