While no rigorous proof of an optimal strategy has been achieved, Robbins has proposed the principal of "staying on a winner" and has shown it to be uniformly better than a strategy of random selection.
Richard Arnold EpsteinThere are no conventional games involving conditions of uncertainty without risk.
Richard Arnold EpsteinReflecting an amalgam of economics, monetary, and psychological factors, the stock market represents possibly the most subtly intricate game invented by man.
Richard Arnold EpsteinA weakness of the random-walk model lies in its assumption of instantaneous adjustment, whereas the information impelling a stock market toward its "intrinsic value" gradually becomes disseminated throughout the market place.
Richard Arnold Epstein