As a businesses grow they often try to find economies of scale in their processes. In this case we are defining a process as the steps needed to transform some set of inputs into a product, or output. As volumes grow there is an opportunity to improve your efficiency by splitting tasks between different groups […]
Author: williamjevons
Optimal Kelly for Stocks
You often see people post about the kelly criterion and how to use it to maximize your gains over time when investing. When they post these articles though they often cut and paste an equation for best bet size. The equation comes from the original paper by Kelly but what they don’t realize is that […]
Democracy and Freedom
In 2019 a young man reported to his local polling place and cast his vote for his representative for the national legislature. It would appear to the outsider that he is clearly participating in the democratic process and surely he must appreciate the freedom he enjoys to control his government. However, in this case, he […]