Portfolio Management Formulas Mathematical Trading Methods For The Futures Options And Stock Markets Author Ralph Vince Nov 1990 ❲LEGIT – 2026❳

Vince borrowed from Kelly (Bell Labs, 1956) and adapted it for the messy reality of trading—where trades have varying outcomes, not just binary win/loss.

A novice might say, "This sounds like the Kelly Criterion." Vince acknowledges the debt to John Kelly (1956) but explodes its limitations. Vince borrowed from Kelly (Bell Labs, 1956) and