I'm with you, Russ. Old saw. --- Frank C. Wimberly 140 Calle Ojo Feliz, Santa Fe, NM 87505
505 670-9918 Santa Fe, NM On Tue, Sep 1, 2020, 4:46 PM uǝlƃ ↙↙↙ <geprope...@gmail.com> wrote: > Ha! Sure. But the last comment from the Gambler is the punchline. > > On 9/1/20 3:25 PM, Russell Standish wrote: > > I'm pretty sure what's being talked about is "Gambler's Ruin" > > (https://en.wikipedia.org/wiki/Gambler's_ruin) a paradoxical result > > where infinite wealth will always win out, even when the odds are > > stacked against. I see from the Wikipedia article, that this has been > > known about since Blaise Pascal's time. I remember it being discussed > > in my undergraduate stats course, so the "Academic" in this piece > > seems remarkably ill-informed. > > > > Cheers > > > > On Tue, Sep 01, 2020 at 12:17:57PM -0700, uǝlƃ ↙↙↙ wrote: > >>> > >>> Gambler: If you do not see the difference between losing money (in a > positive expected value environment) and gaining money (in a negative > expected value environment), then I gain confidence that I am talking to a > true Academic! The following is Python code that simulates 1,000 Gam-blers > each running 1,000 Bets. Each bet either loses 55% (which is multiplying a > negative number, the Bankroll, times 1.55) or wins 50% (which is > multiplying the Bankroll times 0.5). > >>> > >>> Jeremy Gwiazda > > -- > ↙↙↙ uǝlƃ > > - .... . -..-. . -. -.. -..-. .. ... -..-. .... . .-. . > FRIAM Applied Complexity Group listserv > Zoom Fridays 9:30a-12p Mtn GMT-6 bit.ly/virtualfriam > un/subscribe http://redfish.com/mailman/listinfo/friam_redfish.com > archives: http://friam.471366.n2.nabble.com/ > FRIAM-COMIC <http://friam.471366.n2.nabble.com/FRIAM-COMIC> > http://friam-comic.blogspot.com/ >
- .... . -..-. . -. -.. -..-. .. ... -..-. .... . .-. . FRIAM Applied Complexity Group listserv Zoom Fridays 9:30a-12p Mtn GMT-6 bit.ly/virtualfriam un/subscribe http://redfish.com/mailman/listinfo/friam_redfish.com archives: http://friam.471366.n2.nabble.com/ FRIAM-COMIC http://friam-comic.blogspot.com/