Key Features:Classic articles on portfolio theory reprinted in one easy-to-use volumeIncludes 150 pages of original problemsContains computational, review and mind-expanding exercisesContains a few no-where-else-to-be-found articles specially written for the book at its first print.

This volume provides the definitive treatment of fortune's formula or the Kelly capital growth criterion as it is often called. The strategy is to maximize long run wealth of the investor by maximizing the period by period expected utility of wealth with a logarithmic utility function....

This volume provides the definitive treatment of fortune's formula or the Kelly capital growth criterion as it is often called. The strategy is to maximize long run wealth of the investor by maximizing the period by period expected utility of wealth with a logarithmic utility function....