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The 2 Minute Sprint

In: The Adventures of a Modern Renaissance Academic in Investing and Gambling

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  • William T Ziemba

Abstract

Daniel Siegelman of Fortune magazine wrote a short blurb about the Dr Z place and show betting system. He referred to it as the 2 minute sprint and had a lovely cartoon as shown below.In the book Beat the Racetrack (1984 original version and the 1987 updated version), we did calculations concerning how many people could play the system optimally before the edge was taken out. Related to that and consistent with the 2 minute sprint idea is the idea to be rely and grab the edge before others can get it. Of course, in doing this you cannot over bet and we recommend that the bet be at the most full Kelly which in the one-dimensional case is the edge divided by the odds. These books also discuss the effect of differing track takes and all the features were put into a handheld calculator…

Suggested Citation

  • William T Ziemba, 2017. "The 2 Minute Sprint," World Scientific Book Chapters, in: The Adventures of a Modern Renaissance Academic in Investing and Gambling, chapter 11, pages 123-128, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813148529_0011
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    More about this item

    Keywords

    Financial History; Risk Management; Investment Strategies; Mean Reversion; Risk Arbitrage; Management of Assets;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

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