|

|

Advertisements

William Poundstone Quotes

In The Tricky Art of Co-Existing, Sandi Toksvig navigates life’s little dilemmas with wit and not-so-common sense. You’ll learn the strange history of common courtesy and the one true secret of social success: how to not drive everyone around you crazy Picture Quote #1

There is a deep connection between Bernoulli’s dictum and John Kelly’s 1956 publication. It turns out that Kelly’s prescription can be restated as this simple rule: When faced with a choice of wagers or investments, choose the one with the highest geometric means of outcomes Picture Quote #1

Bernoulli’s real contribution was to coin a word. The word has been translated into English as utility. It describes this subjective value people place on money Picture Quote #1

Samuelson spotted a mistake in Bacheliers work. Bachelier’s model had failed to consider that stock prices cannot fall below zero Picture Quote #1

The engine driving the Kelly system is the law of large numbers. In a 1713 treatise on probability, swiss mathematician Jakob Bernoulli propounded a law that has been misunderstood by gamblers (and investors) ever since Picture Quote #1

There were many at Bell Labs and MIT who compared Shannon’s insight to Einstein’s. Others found that comparison unfair - unfair to Shannon Picture Quote #1

Advertisements

The assumption that anything true is knowable is the grandfather of paradoxes Picture Quote #1

The ultimate compound return rate is acutely sensitive to fat tails Picture Quote #1

Your second ducat, like your second million, is never quite as sweet Picture Quote #1

A bit is worth 10,000 basis points Picture Quote #1

In real conversations, we are always trying to outguess each other Picture Quote #1

Shannon’s most radical insight was that meaning was irrelevant Picture Quote #1

Advertisements

At a bare minimum, understanding entails being able to detect an internal contradiction: a paradox Picture Quote #1

Paradox is thus a much deeper and universal concept than the ancients would have dreamed. Rather than an oddity, it is a mainstay of the philosophy of science Picture Quote #1

The best strategy is one that offers the highest compound return consistent with no risk of going broke Picture Quote #1

For reasons mathematical, psychological, and sociological, it is a good idea to use a money management system that is relatively forgiving of estimation errors Picture Quote #1

The problem with winning at blackjack and sports betting is that sooner or later a big guy in a suit tells you to leave Picture Quote #1

Kelly was aware that there is one type of favorable bet available to everyone; the stock market Picture Quote #1

Advertisements

Friendship Quotes

Motivational Quotes

Inspirational Quotes

Advertisements

Text Quotes

In The Tricky Art of Co-Existing, Sandi Toksvig navigates life’s little dilemmas with wit and not-so-common sense. You’ll learn the strange history of common courtesy and the one true secret of social success: how to not drive everyone around you crazy (William Poundstone Quotes) There is a deep connection between Bernoulli’s dictum and John Kelly’s 1956 publication. It turns out that Kelly’s prescription can be restated as this simple rule: When faced with a choice of wagers or investments, choose the one with the highest geometric means of outcomes (William Poundstone Quotes) Bernoulli’s real contribution was to coin a word. The word has been translated into English as utility. It describes this subjective value people place on money (William Poundstone Quotes) Samuelson spotted a mistake in Bacheliers work. Bachelier’s model had failed to consider that stock prices cannot fall below zero (William Poundstone Quotes) The engine driving the Kelly system is the law of large numbers. In a 1713 treatise on probability, swiss mathematician Jakob Bernoulli propounded a law that has been misunderstood by gamblers (and investors) ever since (William Poundstone Quotes) There were many at Bell Labs and MIT who compared Shannon’s insight to Einstein’s. Others found that comparison unfair - unfair to Shannon (William Poundstone Quotes) The assumption that anything true is knowable is the grandfather of paradoxes (William Poundstone Quotes) The ultimate compound return rate is acutely sensitive to fat tails (William Poundstone Quotes) Your second ducat, like your second million, is never quite as sweet (William Poundstone Quotes) A bit is worth 10,000 basis points (William Poundstone Quotes) In real conversations, we are always trying to outguess each other (William Poundstone Quotes) Shannon’s most radical insight was that meaning was irrelevant (William Poundstone Quotes) At a bare minimum, understanding entails being able to detect an internal contradiction: a paradox (William Poundstone Quotes) Paradox is thus a much deeper and universal concept than the ancients would have dreamed. Rather than an oddity, it is a mainstay of the philosophy of science (William Poundstone Quotes) The best strategy is one that offers the highest compound return consistent with no risk of going broke (William Poundstone Quotes) For reasons mathematical, psychological, and sociological, it is a good idea to use a money management system that is relatively forgiving of estimation errors (William Poundstone Quotes) The problem with winning at blackjack and sports betting is that sooner or later a big guy in a suit tells you to leave (William Poundstone Quotes) Kelly was aware that there is one type of favorable bet available to everyone; the stock market (William Poundstone Quotes)