The Kelly Criterion is the brilliant summation of a betting strategy first discovered by Information Theorist John Kelly. Kelly came up with a betting system, his criterion, which optimizes bankroll growth based upon known odds and a definite payout. Roughly, if you can find an exploitable, repeatable edge... Kelly's system tells the maximum you should bet based upon that criteria.
Every options expiration day (of which Friday was one...) brings another one of these sweet predicting the S&P 500 articles, where I use my ultra-top-secret volatility calculator to tell you where the market is predicting the S&P 500 will move in the near future!
Got your taxes done? How did that go?
Let's not dwell on all the wasted hours filling out pages and pages of tax forms and poring over instructions... or clicking check-boxes and entering information on software. Let's celebrate the return of the weekend, and by extension, The Weekender!
Presented on this page is a calculator which allows you to enter some details about an upcoming Mega Millions drawing and receive the tool's best guess of the expected value per ticket purchased. For details, read the article below the calculator.
Welcome back to the most Impersonal Personal Finance Website on the web!
Another week, another weekender coming to you from the Bay Area. Just hours after I left a comment at blogging pal Nelson's site Financial Uproar about how it rarely hails in the Bay Area, it... hailed in the Bay Area. Must have been a Friday the 13th Thing. On that note, read his article about getting a metal roof.
“Currently, the costs of making the penny and the nickel are more than twice the face value of each of those coins.” - Timothy Geithner
As a personal finance web site, we here at DQYDJ tend to spill more than the average amount of (digital) ink on the topic of inflation. The correct way to measure inflation, the comparison of interest rates and mortgages, and loads and loads of articles on market inflation expectations... we've covered it all. One thing we haven't covered is the specific irony the US Treasury encounters when it comes to coining currency - specifically, small denomination coins currently cost more in raw materials to produce than the actual value of the coin.
We're sure you've heard the quote "greater than the sum of its parts". In this case, the value of certain coins is less than the sum of its parts... Oy Vey!
How cool is that? We technically gave you guys 4 new articles Sunday through Thursday.
Happy Thursday, readers! I'm delighted to share with you this short story about my entry into the recent Mega Millions drawing. Alas, I didn't win anything, but I'll share this little anecdote with you nonetheless. Skip to the end if you are easily bored by math!
Is it just me, or has there been a huge decline in activity on other personal finance sites? Maybe it's just me... anyway, we're still around and here's another weekender!
It wasn't that long ago that we featured an article here at Don't Quit Your Day Job about gambling in America. Knowing that 5.566% of our visitors are Canadian (for the record, 70.175% of visits originate from America and .474% are unknown), I figured we should shine our flashlight on the Land of the Loonie.
(For the uninitiated, that's the currency, not a comment on our northern pals).