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.

Paradox is thus a much deeper and universal concept than the ancients would have dreamed. Rather than an oddity, it is a mainstay of the philosophy of science.

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

Kelly was aware that there is one type of favorable bet available to everyone; the stock market.

Expectation is a statistical fiction, like having 2.5 children.

The assumption that anything true is knowable is the grandfather of paradoxes.

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