Really Rich Guys - Top 10 Traders

[RunDownHouse]

crazy,

I thought Buffet had been a stud for three decades or more. Am I wrong? If not, is he a complete outlier or aberration? If not, what's the problem in your correlation between Kelly curves and market success?

My understanding of the Kelly criteria come almost completely from a paper by Stephen Levitt (author of Freakonomics), in which he discusses NFL gambling markets. From what I picked up, Kelly's criterion dictate an optimal bet size that dictate a bet size that guarantees NOT going busto.

Assuming that my understanding of Kelly is correct - that a perfect Kelly bettor has no chance of going busto, as you stated - I'm not sure where the disconnect is.