The Mathematics of Money
A fishing trip, an adoptive grandpa, and the reason a bankroll grows: Kelly's 1956 paper read as Shannon's communication model, all the way to G = H(X) − H(X|Y).
Blog
Long-form working-out. Mostly Kelly, Shannon and the arithmetic of a bankroll; occasionally a fishing trip that turns out to be about something else.
A fishing trip, an adoptive grandpa, and the reason a bankroll grows: Kelly's 1956 paper read as Shannon's communication model, all the way to G = H(X) − H(X|Y).