#16: Tobias Carlisle on Beating 'The Little Book That Beats The Market'
Superinvestors and the Art of Worldly Wisdom
How to Concentrate Your Portfolio
The Kelly criterion requires you to make an estimate of the probability of you being right. In our portfolios we can have 10 or 15 percent of the portfolio in a single stock at inception. Those are typically arbitrageous where we can be long one side and short some other portion of it. It's not something that we're doing where we're sort of we're long only on one leg, he says.
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