There were many at Bell Labs and MIT who compared Shannon's insight to Einstein's. Others found that comparison unfair - unfair to Shannon.

The best strategy is one that offers the highest compound return consistent with no risk of going broke.

Bernoulli's real contribution was to coin a word. The word has been translated into English as "utility". It describes this subjective value people place on money.

At a bare minimum, understanding entails being able to detect an internal contradiction: a paradox.

The ultimate compound return rate is acutely sensitive to fat tails.

The engine driving the Kelly system is the "law of large numbers." In a 1713 treatise on probability, Swiss mathematician Jakob Bernoulli propounded a law that has been misunderstood by gamblers (and investors) ever since.

In real conversations, we are always trying to outguess each other.