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Response to Paul a Samuelson Letters and Papers on the Kelly Capital Growth Investment Strategy

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The Kelly Capital Growth Investment Strategy (KCGIS) is to maximize the expected utility of nal wealth with a logarithmic utility function. This approach dates to Bernoulli's 1738 suggestion of log as the utility function arguing that marginal utility was proportional to the reciprocal of...

Persistent link: https://www.econbiz.de/10013099442