Had a random thought about a portfolio allocation setup. Say you have $100 in fixed income (we'll just say govt bonds) that pays you 5% per year in interest, $5. You use the interest payments only for pure risk trades with high payoffs, taking large relative risks to the $5 allocation on trades that pretty much always have negative EV, just gambling, like buying options 1-3 days before expiration on stocks that have earnings when the options are trading for a few pennies, every so many you'll make a gigantic percentage return on the $5 risk allocation. So the thing here is knowing that the risk allocation has negative EV, but building gambler's ruin into the setup by using only the interest payments to fund the risk allocation, and any time there is a big profitable trade wiring the profits out of the risk account not to be touched, so the risk account's capital never grows beyond the amount that gets paid in in interest and to protect any winnings. The idea being to get one or maybe a few big winners before it goes broke every year/semiannual interest payment period and then when it does inevitably go broke, wait for the next coupon payment and rinse and repeat. I'm not sure if the fact that the risk allocation has negative EV means you'd just be slowly investing into a setup that will lose money over the long run and nothing else matters, or if the potential for huge payouts with the max drawdown being ending the year/coupon payment increment flat makes it something like free (aside from opportunity cost and the interest received, but I'm not concerned about that right now) lotto tickets? EDIT - I'm assuming trading options like that would have a negative EV, I'm not certain but I'd think it most likely does.