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I also like the discourse on bankrolls and bets sizing. I think being able to correctly size your bets is such a great, albeit challenging skill to have in the real world.

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Go here for more focused practise: https://static.loop54.com/ship-investor.html

https://en.wikipedia.org/wiki/Kelly_criterion may be of interest.

One major problem here is that many players dramatically overestimate their edge.

A problem for those players, an opportunity for others :)

True!

Reminds me of: https://en.m.wikipedia.org/wiki/Chinese_word_for_%22crisis%2...

One of the rules of thumb you quickly learn when studying the Kelly criterion is that overestimation can lead to ruin, underestimation can at worst lead to slower growth.

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