I will never work through the Kelly math. I don't think I could and I get a headache thinking of solving a math problem, or any problem that does not translate directly to income My student days are way, way over with for sure. It has intrigued me for a while that it tops out at 100% bankroll. That implies that leverage can only REDUCE gains over time. Or maybe it could be interpreted that your leveraged buying power should be considered your account size?