Source: The Drunkard's Walk, Chapter 5, The Dueling Of Large And Small Numbers, p. 99
“The engine driving the Kelly system is the "law of large numbers." In a 1713 treatise on probability, Swiss mathematician Jakob Bernoulli propounded a law that has been misunderstood by gamblers (and investors) ever since.”
Part Two, Blackjack, The Kelly Criterion Under The Hood, p. 102
Fortune's Formula (2005)
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William Feller
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¶ 1
State Socialism and Anarchism: How Far They Agree, and Wherin They Differ (1888)
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[Augustin Louis Cauchy, Sept leçons de physique, Bureau du Journal Les Mondes, 1868, 15]
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