Vol. I · Essays
Essays on finance, risk,
and the mathematics of
capital.
A quarterly journal about the ideas that quietly compound — position sizing, probability, market microstructure, and the long arithmetic of wealth. Written by Samet Sevindi.
Why 10× leverage makes you poorer, not richer
In 1956, a Bell Labs engineer solved a problem no one had bothered to formalize: what is the mathematically optimal size of a bet? The answer has been quietly running the world's most profitable hedge funds ever since, and almost everyone who trades with leverage is on the wrong side of it.
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