In probability theory, Proebsting's paradox is an argument that appears to show that the Kelly criterion can lead to ruin. Although it can be resolved mathematically, it raises some interesting issues about the practical application of Kelly, especially in investing. It was named and first discussed by Edward O. Thorp in 2008.
Read more about Proebsting's Paradox: Statement of The Paradox, Practical Application, Resolution
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“When a paradox is widely believed, it is no longer recognized as a paradox.”
—Mason Cooley (b. 1927)