RE:RE:RE:Re: What Would A Modest Position Be?Kelly criterion would be hard to implement because the portfolio size changes depending on the stock valuation and real probabilities are impossible to estimate. For example, my equitable investment was way pre buffett and a low percentage at first but higher now. The better question is when to get out.
So I just try to do good valuation work and invest where there is a good thesis... hold long term and don't sell if no news comes out and the prices goes down...
ive had success, but every now and then you get your a** handed to you