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]]>The big difference between Graham’s formula and Kelly’s is that Graham’s formula doesn’t tell you how much of your portfolio should be allocated towards the investment, it only gives its chance of success.

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]]>It is:

G = Gain in points if successful

L = Loss in points if unsuccessful

C = Chance of success in %

Y = Time of holding in years

P = Current Price

(GC) – L(100-C) / YP = %

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