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formula. With notable volatility in its sequence of outcomes, the Kelly criterion can be used to estimate what proportion of wealth to risk in a sequence of positive expected value bets to maximize the rate of return. As a substantial warning, the outcome for the Kelly criterion's recommendation on
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where a reporter noted that "A machine that talks— and sings— stole the show today as the old
Bellevue Stratford vibrated with the speed of sound. The new gadget, a modified mechanical brain, recited passages from Shakespeare and sang musical selections in response to card-punched symbols, which
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use Kelly methods. Warren
Buffett met Thorp the first time in 1968. It's said that Buffett uses a form of the Kelly criterion in deciding how much money to put into various holdings. Mathematician and game theorist
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Over the decades, John Kelly's scientific formula has become a part of mainstream investment theory and the most prominent users, well-known and successful billionaire investors
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506:'... Then it gave a rendition of 'Daisy, Daisy, Give Me Your Answer Do' and ended by thanking the audience for listening.", "Robot talks, sings",
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computer to synthesize speech. A demonstration by Kelly and
Gerstman took place on May 10, 1961, at a meeting in Philadelphia of the
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demonstration. Clarke was so impressed that he used it in one of the climactic scenes of his novel and screenplay for
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fame visited his friend and colleague John Pierce at the Bell Labs Murray Hill facility and heard this remarkable
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Fortune's
Formula : The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
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Computer
Synthesized Speech Technologies: Tools for Aiding Impairment: Tools for Aiding Impairment
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created one of the most famous moments in the history of Bell
Telephone Laboratories by using an
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A heavy smoker who could go through six packs of cigarettes a day, Kelly died of a
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American
Scientist online: Bettor Math, article and book review by Elwyn Berlekamp
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The Las Vegas connection: Information theory and its applications to Game theory
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102:(December 26, 1923 – March 18, 1965), was an American scientist who worked at
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developed by
Shannon. It is reported that Shannon and his wife Betty went to
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455:"Louis Gerstman, 61, a Specialist In Speech Disorders and Processes"
413:"Apply the Kelly Criterion to Investing and Your Portfolio Sizing"
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computer sings the same song as it is being disabled by astronaut
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University of Texas at Austin
College of Natural Sciences alumni
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Thorp, E. O. (September 2008), "The Kelly
Criterion: Part II",
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The Dhandho Investor: The Low-Risk Value Method to High Returns
665:"Ed Thorp's Genius Detailed In Scott Patterson's 'The Quants'"
485:"Sounds of Speech— And They're a Card", by Charlie Bannister,
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on a Manhattan sidewalk at the age of 41 on March 18, 1965.
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Elwyn Berlekamp (Kelly's Research Assistant) Bio details
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Elwyn Berlekamp (Kelly's Research Assistant) Bio details
370:"The Man Who Solved the Market", Gregory Zuckerman, 2019
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The Man Who Solved the Market, Gregory Zuckerman (2019)
114:, he is best known for his 1956 work in creating the
383:(1956). "A New Interpretation of Information Rate".
162:were fed to it." Their voice recorder synthesizer
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614:Handbook of Asset and Liability Management
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562:John Kelly by William Poundstone website
216:at Bell Labs. Together they developed a
504:To Be Or Not To Be' lines from 'Hamlet'
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288:. Axcom was the outsourced manager for
220:type method based on the principles of
30:For other people named John Kelly, see
612:Zenios, S. A.; Ziemba, W. T. (2006),
236:, and made very successful forays in
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256:and corroborated by the writings of
244:using this method, later called the
399:10.1002/j.1538-7305.1956.tb03809.x
174:, with musical accompaniment from
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767:– description of Kelly criterion
520:Arthur C. Clarke online Biography
794:20th-century American physicists
728:Bell Labs Text to Speech Systems
145:Speech synthesis: Enter Hal 9000
212:John Kelly was an associate of
752:John Kelly and Edward O. Thorp
426:John, Mullennix (2010-01-31).
343:Journal of Banking and Finance
27:American scientist (1923–1965)
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453:Lambert, Bruce (1992-03-21).
386:Bell System Technical Journal
290:Renaissance Technologies Corp
159:Acoustical Society of America
139:University of Texas at Austin
804:People from Corsicana, Texas
355:10.1016/0378-4266(79)90023-2
706:"Get Rich: Here's the Math"
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32:John Kelly (disambiguation)
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601:William Poundstone website
539:"Text-To-Speech Synthesis"
498:Another reporter, for the
292:hedge fund flagship, the
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123:statistical probabilities
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636:Pabrai, Mohnish (2007),
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487:Philadelphia Daily News
510:, June 18, 1961, p. 25
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508:Sydney Morning Herald
489:, May 10, 1961, p. 50
194:2001: A Space Odyssey
185:2001: A Space Odyssey
712:. 26 September 2005.
100:John Larry Kelly Jr.
41:John Larry Kelly Jr.
18:John Larry Kelly, Jr
671:. February 5, 2010.
168:recreated the song
82:Manhattan, New York
733:2006-03-14 at the
721:General references
525:1997-12-11 at the
459:The New York Times
334:Samuelson (1979).
254:William Poundstone
222:information theory
112:information theory
669:www.gurufocus.com
651:978-0-470-04389-9
623:978-0-444-50875-1
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769:(in Polish)
218:Game theory
202:Dave Bowman
196:, when the
176:Max Mathews
778:Categories
548:2017-03-14
472:2017-03-14
316:References
298:Jim Simons
273:Jim Simons
269:Bill Gross
171:Daisy Bell
129:Early life
90:Occupation
644:, Wiley,
467:0362-4331
242:blackjack
226:Las Vegas
104:Bell Labs
93:Scientist
731:Archived
523:Archived
286:James Ax
238:roulette
234:Ed Thorp
198:HAL 9000
155:IBM 7094
165:vocoder
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310:stroke
230:M.I.T.
84:, U.S.
65:, U.S.
339:(PDF)
304:Death
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
