7 books
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Trading
“
This might sound a bit confusing right now, but trust me the way Michael Corleone trusted Tom Hagen in The Godfather and you'll get the hang of it.
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”
― Hedging Bullion Trades; Why Trade Naked, When you can Hedge?
― Hedging Bullion Trades; Why Trade Naked, When you can Hedge?
“
The best on horses you think will lose are a valuable "insurance policy." When rare disaster strikes, you'll be glad you had the insurance. 71
The exponential growth of wealth in the Kelly system is also a consequence of proportional betting. As the bankroll grows, make larger bets. 98
[2 questions are central to John Kelly's analysis] What level of risk will lead to the highest long-run return? What is the chance of losing everything? 286
As Fred Schwed, Jr. author of Where are the Customer
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”
― Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
― Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
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