@AndrewCFollett Lumping social security, which workers have paid in to all their lives, lumping that in with welfare, section 8, SNAP, which are gifts from the government, is stealing from the workers. Not correct.
Premarket movers:
Mag 7 stocks are mixed (Alphabet -0.3%, Amazon +0.3%, Apple +0.4%, Meta +0.2%, Microsoft unchanged, Nvidia -0.2%, Tesla -0.3)
Watch US and Canadian metals, lumber, dairy, automotive and equipment maker stocks as Canada is set to apply counter-tariffs on $20 billion of US products on Sept. 8 after the US implemented a new 50% tax on imports of hundreds of Canadian items.
Alibaba ADRs (BABA) fall 2% after raising $10.2 billion in Hong Kong’s biggest follow-on offering, underscoring its willingness to amass and spend vast sums to take the lead in global artificial intelligence.
Applied Optoelectronics (AAOI) tumbles 12% after the company filed for a possible offering of shares.
NVent Electric (NVT) slips 1% the maker of cabinets and racks for data centers agreed to buy Maverick Power for $1.75 billion.
PDD Holdings ADRs (PDD) rise 2% after the owner of Temu reported second quarter earnings that beat the average analyst estimate.
Regenxbio (RGNX) tumbles 25% after the drug developer said the FDA placed a clinical hold on its investigational gene therapy RGX-121 for Hunter Syndrome. The hold follows the discovery of either a small nodules or a cystic mass in spine MRIs of five trial participants.
Thanks, tiger. Your example calculates kelly at 32%, yet the successful bet size is 2%, 1/16th kelly. Thorp never bet Kelly size. He bet half or quarter, as you note. So one would say the Kelly formula is wrong unless the trader does this f = (p - q/b)/2 for half kelly, but for your example f = (p - q/b)/16 is the correct formula, yes?