Dr. Al,
Those interested in these concepts might also enjoy:
http://www.adaptrade.com/Articles/article-ffps.htm
"Optimal f position sizing extends the Kelly formula so that the wins and losses can all be different sizes. Optimal f calculates the fixed fraction that maximizes the rate of return for a given series of trades. While this sounds like a good idea,
in practice the optimal f value (or the f value from the Kelly formula) often results in drawdowns that are too large for most people to tolerate."
Best,
Mr. Now