Expectation is a statistical fiction, like having 2.5 children.
The story of the Kelly system is a story of secrets - or if you prefer, a story of entropy.
The assumption that anything true is knowable is the grandfather of paradoxes.
In real conversations, we are always trying to outguess each other.
The best strategy is one that offers the highest compound return consistent with no risk of going broke.
Samuelson, however, hedged his personal bets - by putting some of his own money in Berkshire Hathaway.