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0 pointsgroby_b3y ago0 comments

Of course, when you can barely afford to live, the Kelly criterion does not do anything at all for you. You have nothing that you can afford to lose. Not even miniscule bets.

If you accept the official poverty line as threshold, that'd be ~13% of people in the US. And the poverty line is ~$14k/year - even if you make double that, the amount of money you can risk is really pretty close to zero.

Any risk in that situation is a super-risky plan with no room for error.

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WJW3y ago

It seems we agree that below the poverty line people should not make uncertain bets, because they have nothing they can afford to lose. Not betting when you can't afford it is exactly what the Kelly criterion proscribes, no?

delusional3y ago

You were replying to a person who were pretty clearly implying the position that the game is rigged. It's reasonable to assume your comment was meant to dismiss it as "you're just playing it wrong". I understand after your second comment that that was not the intention, but the first comment could be read as that.

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0 pointsgroby_b3y ago0 comments

Of course, when you can barely afford to live, the Kelly criterion does not do anything at all for you. You have nothing that you can afford to lose. Not even miniscule bets.

Any risk in that situation is a super-risky plan with no room for error.

0 comments

WJW3y ago

delusional3y ago

j / k navigate · click thread line to collapse