To the Money Tree: An Introduction to Trading the Coin-Flip Environment


The purpose of this paper is to point the way to the money tree. Currently, almost all investment professionals think that outperformance requires an “edge,” that is, the ability to predict the future to some degree. In this paper, I suggest that money can be made in a 0, or even slightly negative, expected value environment by carefully choosing investment/bet sizes. Philosophical considerations are found mainly in Section 4.

Author's Profile


Added to PP

424 (#37,271)

6 months
180 (#13,708)

Historical graph of downloads since first upload
This graph includes both downloads from PhilArchive and clicks on external links on PhilPapers.
How can I increase my downloads?