Sublime

Montessori’s idea is a variation of a famous philosophical principle called Occam’s razor. William of Occam, a fourteenth-century English philosopher, argued that in coming up with a theory, we have to make things as simple as possible and as complex as necessary.

Few credible thinkers rival Carneades in their rigorous skepticism (a class that would include the medieval Arab philosopher al-Ghaz al i, Hume, and Kant—but only Popper came to elevate his skepticism to an all-encompassing scientific methodology).

The role of luck, therefore, appears decisive.

The Kelly-Thorp method requires no joint distribution or utility function. In practice, one needs the ratio of expected profit to worst-case return—dynamically adjusted (that is, one gamble at a time) to avoid ruin. That’s all.