{"id":5619,"date":"2025-06-16T21:49:08","date_gmt":"2025-06-16T11:49:08","guid":{"rendered":"https:\/\/murrayslatter.me\/?p=5619"},"modified":"2025-06-16T21:49:11","modified_gmt":"2025-06-16T11:49:11","slug":"kelly-criterion","status":"publish","type":"post","link":"https:\/\/murrayslatter.me\/?p=5619","title":{"rendered":"Kelly Criterion"},"content":{"rendered":"\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>Maximizing Long-Term Growth with Optimal Risk Sizing<\/p>\n<\/blockquote>\n\n\n\n<p>When it comes to investing and betting, few models are as powerful\u2014or as misunderstood\u2014as the <strong>Kelly Criterion<\/strong>. Originally developed by Bell Labs researcher John L. Kelly Jr. in 1956, this formula offers a mathematically sound method to <strong>maximize the long-term growth rate of capital<\/strong> by optimizing bet size or investment allocation relative to risk and reward.<\/p>\n\n\n\n<p>Let\u2019s break down why this model matters, how it works, and how it\u2019s used in professional investing.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">\ud83d\udccc What is the Kelly Criterion?<\/h3>\n\n\n\n<p>The Kelly Criterion is a formula used to determine the <strong>optimal size of a series of bets or investments<\/strong> to <strong>maximize logarithmic wealth growth<\/strong> over the long run, while minimizing the risk of ruin. It helps answer a key question: <em>How much should I allocate to a single opportunity given the odds and potential returns?<\/em><\/p>\n\n\n\n<p>At its core, the model balances <strong>risk<\/strong> and <strong>reward<\/strong> to avoid two extremes:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Betting too little (missing out on compounding opportunities)<\/li>\n\n\n\n<li>Betting too much (increasing the risk of losing your bankroll)<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">\ud83d\udd22 The Formula<\/h3>\n\n\n\n<p>For binary outcomes (like a win\/loss scenario in gambling), the classic Kelly formula is: f\u2217=bp\u2212qbf^* = \\frac{bp &#8211; q}{b}f\u2217=bbp\u2212q\u200b<\/p>\n\n\n\n<p>Where:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>f\u2217f^*f\u2217 = Fraction of capital to wager\/invest<\/li>\n\n\n\n<li>bbb = Net odds received (e.g. 1:1 odds \u2192 b = 1)<\/li>\n\n\n\n<li>ppp = Probability of winning<\/li>\n\n\n\n<li>qqq = Probability of losing (1 &#8211; p)<\/li>\n<\/ul>\n\n\n\n<p>In investment applications, this is often generalized using <strong>expected return<\/strong> and <strong>variance<\/strong>: f\u2217=E[R]\u03c32f^* = \\frac{E[R]}{\\sigma^2}f\u2217=\u03c32E[R]\u200b<\/p>\n\n\n\n<p>Where:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>E[R]E[R]E[R] = Expected excess return of the asset<\/li>\n\n\n\n<li>\u03c32\\sigma^2\u03c32 = Variance of returns<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">\ud83e\udde0 Why It Works: The Power of Logarithmic Utility<\/h3>\n\n\n\n<p>Unlike linear models that aim to maximize expected value, the Kelly Criterion maximizes the <strong>expected logarithmic growth rate<\/strong> of wealth. This reflects a more <strong>realistic utility function<\/strong> where the pain of losses grows faster than the joy of gains.<\/p>\n\n\n\n<p>This makes Kelly a <strong>risk-aware optimizer<\/strong>\u2014you\u2019re not just shooting for high returns, you&#8217;re optimizing for sustainable, compounding returns over time.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">\ud83d\udcc8 Practical Applications in Investing<\/h3>\n\n\n\n<p>Many legendary investors\u2014<strong>Warren Buffett, Ed Thorp, Bill Gross, and James Simons<\/strong>\u2014have referenced or used versions of the Kelly Criterion in their portfolio construction or position sizing strategies.<\/p>\n\n\n\n<p>Use cases include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Position Sizing<\/strong> in high-conviction trades<\/li>\n\n\n\n<li><strong>Capital Allocation<\/strong> across multiple asymmetric bets<\/li>\n\n\n\n<li><strong>Risk-adjusted Sizing<\/strong> of venture capital or early-stage investments<\/li>\n\n\n\n<li><strong>Hedging strategies<\/strong> in derivatives and options<\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;If you\u2019re not following the Kelly Criterion (or a derivative of it), you\u2019re probably either leaving money on the table or risking too much.&#8221; \u2014 Ed Thorp<\/p>\n<\/blockquote>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">\u26a0\ufe0f Caveats &amp; Modifications<\/h3>\n\n\n\n<p>Despite its elegance, the Kelly Criterion comes with <strong>practical limitations<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>It requires accurate inputs (expected returns, probabilities, variance)\u2014which are rarely known with certainty.<\/li>\n\n\n\n<li>Full Kelly allocations can be volatile, so many investors apply <strong>\u201cfractional Kelly\u201d<\/strong> (e.g., 50% Kelly) to reduce drawdowns and improve risk-adjusted returns.<\/li>\n<\/ul>\n\n\n\n<p>Additionally, correlations between investments must be taken into account when applying Kelly across a portfolio.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">\u2705 Summary: Why the Kelly Criterion Matters<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Benefit<\/th><th>Description<\/th><\/tr><\/thead><tbody><tr><td><strong>Optimized Growth<\/strong><\/td><td>Maximizes wealth over time through compounding<\/td><\/tr><tr><td><strong>Risk Aware<\/strong><\/td><td>Avoids overbetting and the risk of financial ruin<\/td><\/tr><tr><td><strong>Quantitative Discipline<\/strong><\/td><td>Encourages precision in sizing positions<\/td><\/tr><tr><td><strong>Tailored to Conviction<\/strong><\/td><td>Higher conviction = higher allocation<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>The Kelly Criterion provides a <strong>mathematical foundation for smart risk-taking<\/strong>. In a world where emotions, noise, and volatility can derail rational decisions, Kelly offers a North Star: <strong>only risk what you can afford to lose, and only when the odds are clearly in your favor.<\/strong><\/p>\n\n\n\n<p>Missed out on the <a href=\"https:\/\/murrayslatter.me\/?p=5292\">over all series<\/a>?<\/p>\n\n\n\n<p><strong>Murray Slatter<\/strong><\/p>\n\n\n\n<p>Strategy, Growth, and Transformation Consultant: <a href=\"https:\/\/outlook.office.com\/bookwithme\/user\/ffef0aaaf9ce4fa9bc29e062d1cb0d0f@qfactor.com.au?anonymous&amp;ep=bwmEmailSignature\">Book time to meet with me here!<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Or Signup for the Newsletter<\/h2>\n\n\n\n<div class=\"wp-block-leadin-hubspot-form-block\">\n\t\t\t\t\t\t<script>\n\t\t\t\t\t\t\twindow.hsFormsOnReady = window.hsFormsOnReady || [];\n\t\t\t\t\t\t\twindow.hsFormsOnReady.push(()=>{\n\t\t\t\t\t\t\t\thbspt.forms.create({\n\t\t\t\t\t\t\t\t\tportalId: 24391455,\n\t\t\t\t\t\t\t\t\tformId: \"03fd50b1-a049-4bdb-b064-cff39a5f75dd\",\n\t\t\t\t\t\t\t\t\ttarget: \"#hbspt-form-1777498804000-9075087439\",\n\t\t\t\t\t\t\t\t\tregion: \"na1\",\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t})});\n\t\t\t\t\t\t<\/script>\n\t\t\t\t\t\t<div class=\"hbspt-form\" id=\"hbspt-form-1777498804000-9075087439\"><\/div><\/div>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Maximizing Long-Term Growth with Optimal Risk Sizing When it comes to investing and betting, few models are as powerful\u2014or as misunderstood\u2014as the Kelly Criterion. Originally developed by Bell Labs researcher John L. Kelly Jr. in 1956, this formula offers a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":5664,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[17,118],"tags":[],"class_list":["post-5619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-master-class","category-mental-models-financial-investment","clearfix"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Kelly Criterion - Murray Slatter<\/title>\n<meta name=\"description\" content=\"When it comes to investing and betting, few models are as powerful\u2014or as misunderstood\u2014as the Kelly Criterion\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/murrayslatter.me\/?p=5619\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kelly Criterion - Murray Slatter\" \/>\n<meta property=\"og:description\" content=\"When it comes to investing and betting, few models are as powerful\u2014or as misunderstood\u2014as the Kelly Criterion\" \/>\n<meta property=\"og:url\" content=\"https:\/\/murrayslatter.me\/?p=5619\" \/>\n<meta property=\"og:site_name\" content=\"Murray Slatter\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-16T11:49:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-16T11:49:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/murrayslatter.me\/wp-content\/uploads\/2025\/06\/Kelly-Criterion.png\" \/>\n\t<meta property=\"og:image:width\" content=\"885\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Murray Slatter\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Murray Slatter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/murrayslatter.me\\\/?p=5619#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/murrayslatter.me\\\/?p=5619\"},\"author\":{\"name\":\"Murray Slatter\",\"@id\":\"https:\\\/\\\/murrayslatter.me\\\/#\\\/schema\\\/person\\\/9774d7f727e6b917f43267614574f6d5\"},\"headline\":\"Kelly Criterion\",\"datePublished\":\"2025-06-16T11:49:08+00:00\",\"dateModified\":\"2025-06-16T11:49:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/murrayslatter.me\\\/?p=5619\"},\"wordCount\":620,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/murrayslatter.me\\\/?p=5619#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/i0.wp.com\\\/murrayslatter.me\\\/wp-content\\\/uploads\\\/2025\\\/06\\\/Kelly-Criterion.png?fit=885%2C500&ssl=1\",\"articleSection\":[\"Master Class\",\"Mental Models - Financial &amp; Investment\"],\"inLanguage\":\"en\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/murrayslatter.me\\\/?p=5619#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/murrayslatter.me\\\/?p=5619\",\"url\":\"https:\\\/\\\/murrayslatter.me\\\/?p=5619\",\"name\":\"Kelly Criterion - Murray Slatter\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/murrayslatter.me\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/murrayslatter.me\\\/?p=5619#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/murrayslatter.me\\\/?p=5619#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/i0.wp.com\\\/murrayslatter.me\\\/wp-content\\\/uploads\\\/2025\\\/06\\\/Kelly-Criterion.png?fit=885%2C500&ssl=1\",\"datePublished\":\"2025-06-16T11:49:08+00:00\",\"dateModified\":\"2025-06-16T11:49:11+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/murrayslatter.me\\\/#\\\/schema\\\/person\\\/9774d7f727e6b917f43267614574f6d5\"},\"description\":\"When it comes to investing and betting, few models are as powerful\u2014or as misunderstood\u2014as the Kelly Criterion\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/murrayslatter.me\\\/?p=5619#breadcrumb\"},\"inLanguage\":\"en\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/murrayslatter.me\\\/?p=5619\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en\",\"@id\":\"https:\\\/\\\/murrayslatter.me\\\/?p=5619#primaryimage\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/murrayslatter.me\\\/wp-content\\\/uploads\\\/2025\\\/06\\\/Kelly-Criterion.png?fit=885%2C500&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/murrayslatter.me\\\/wp-content\\\/uploads\\\/2025\\\/06\\\/Kelly-Criterion.png?fit=885%2C500&ssl=1\",\"width\":885,\"height\":500},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/murrayslatter.me\\\/?p=5619#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/murrayslatter.me\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Kelly Criterion\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/murrayslatter.me\\\/#website\",\"url\":\"https:\\\/\\\/murrayslatter.me\\\/\",\"name\":\"Murray Slatter\",\"description\":\"Empowering Good teams to be Great!\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/murrayslatter.me\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/murrayslatter.me\\\/#\\\/schema\\\/person\\\/9774d7f727e6b917f43267614574f6d5\",\"name\":\"Murray Slatter\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/8aa0f1751d211918ccc2037a8b3ce22431cec7bef7edf9c993cee70e20717c88?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/8aa0f1751d211918ccc2037a8b3ce22431cec7bef7edf9c993cee70e20717c88?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/8aa0f1751d211918ccc2037a8b3ce22431cec7bef7edf9c993cee70e20717c88?s=96&d=mm&r=g\",\"caption\":\"Murray Slatter\"},\"url\":\"https:\\\/\\\/murrayslatter.me\\\/?author=2\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Kelly Criterion - Murray Slatter","description":"When it comes to investing and betting, few models are as powerful\u2014or as misunderstood\u2014as the Kelly Criterion","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/murrayslatter.me\/?p=5619","og_locale":"en_US","og_type":"article","og_title":"Kelly Criterion - Murray Slatter","og_description":"When it comes to investing and betting, few models are as powerful\u2014or as misunderstood\u2014as the Kelly Criterion","og_url":"https:\/\/murrayslatter.me\/?p=5619","og_site_name":"Murray Slatter","article_published_time":"2025-06-16T11:49:08+00:00","article_modified_time":"2025-06-16T11:49:11+00:00","og_image":[{"width":885,"height":500,"url":"https:\/\/murrayslatter.me\/wp-content\/uploads\/2025\/06\/Kelly-Criterion.png","type":"image\/png"}],"author":"Murray Slatter","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Murray Slatter","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/murrayslatter.me\/?p=5619#article","isPartOf":{"@id":"https:\/\/murrayslatter.me\/?p=5619"},"author":{"name":"Murray Slatter","@id":"https:\/\/murrayslatter.me\/#\/schema\/person\/9774d7f727e6b917f43267614574f6d5"},"headline":"Kelly Criterion","datePublished":"2025-06-16T11:49:08+00:00","dateModified":"2025-06-16T11:49:11+00:00","mainEntityOfPage":{"@id":"https:\/\/murrayslatter.me\/?p=5619"},"wordCount":620,"commentCount":0,"image":{"@id":"https:\/\/murrayslatter.me\/?p=5619#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2025\/06\/Kelly-Criterion.png?fit=885%2C500&ssl=1","articleSection":["Master Class","Mental Models - Financial &amp; Investment"],"inLanguage":"en","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/murrayslatter.me\/?p=5619#respond"]}]},{"@type":"WebPage","@id":"https:\/\/murrayslatter.me\/?p=5619","url":"https:\/\/murrayslatter.me\/?p=5619","name":"Kelly Criterion - Murray Slatter","isPartOf":{"@id":"https:\/\/murrayslatter.me\/#website"},"primaryImageOfPage":{"@id":"https:\/\/murrayslatter.me\/?p=5619#primaryimage"},"image":{"@id":"https:\/\/murrayslatter.me\/?p=5619#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2025\/06\/Kelly-Criterion.png?fit=885%2C500&ssl=1","datePublished":"2025-06-16T11:49:08+00:00","dateModified":"2025-06-16T11:49:11+00:00","author":{"@id":"https:\/\/murrayslatter.me\/#\/schema\/person\/9774d7f727e6b917f43267614574f6d5"},"description":"When it comes to investing and betting, few models are as powerful\u2014or as misunderstood\u2014as the Kelly Criterion","breadcrumb":{"@id":"https:\/\/murrayslatter.me\/?p=5619#breadcrumb"},"inLanguage":"en","potentialAction":[{"@type":"ReadAction","target":["https:\/\/murrayslatter.me\/?p=5619"]}]},{"@type":"ImageObject","inLanguage":"en","@id":"https:\/\/murrayslatter.me\/?p=5619#primaryimage","url":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2025\/06\/Kelly-Criterion.png?fit=885%2C500&ssl=1","contentUrl":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2025\/06\/Kelly-Criterion.png?fit=885%2C500&ssl=1","width":885,"height":500},{"@type":"BreadcrumbList","@id":"https:\/\/murrayslatter.me\/?p=5619#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/murrayslatter.me\/"},{"@type":"ListItem","position":2,"name":"Kelly Criterion"}]},{"@type":"WebSite","@id":"https:\/\/murrayslatter.me\/#website","url":"https:\/\/murrayslatter.me\/","name":"Murray Slatter","description":"Empowering Good teams to be Great!","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/murrayslatter.me\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en"},{"@type":"Person","@id":"https:\/\/murrayslatter.me\/#\/schema\/person\/9774d7f727e6b917f43267614574f6d5","name":"Murray Slatter","image":{"@type":"ImageObject","inLanguage":"en","@id":"https:\/\/secure.gravatar.com\/avatar\/8aa0f1751d211918ccc2037a8b3ce22431cec7bef7edf9c993cee70e20717c88?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/8aa0f1751d211918ccc2037a8b3ce22431cec7bef7edf9c993cee70e20717c88?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/8aa0f1751d211918ccc2037a8b3ce22431cec7bef7edf9c993cee70e20717c88?s=96&d=mm&r=g","caption":"Murray Slatter"},"url":"https:\/\/murrayslatter.me\/?author=2"}]}},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2025\/06\/Kelly-Criterion.png?fit=885%2C500&ssl=1","jetpack-related-posts":[{"id":3767,"url":"https:\/\/murrayslatter.me\/?p=3767","url_meta":{"origin":5619,"position":0},"title":"Unveiling The Social Impact Fund","author":"Murray Slatter","date":"August 28, 2024","format":false,"excerpt":"Unveiling The Social Impact Fund. Our unique investment philosophy is centered on generating market-beating returns that drive dividend growth and distributions to Social Impact Initiatives for your organisation. Investing with Purpose At the core of our strategy is a commitment to long-term investment, a practice we've detailed in \"Investing with\u2026","rel":"","context":"In \"#SocialImpactFund\"","block_context":{"text":"#SocialImpactFund","link":"https:\/\/murrayslatter.me\/?tag=socialimpactfund"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/08\/Social-Impact-Fund.jpg?fit=720%2C405&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/08\/Social-Impact-Fund.jpg?fit=720%2C405&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/08\/Social-Impact-Fund.jpg?fit=720%2C405&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/08\/Social-Impact-Fund.jpg?fit=720%2C405&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":2953,"url":"https:\/\/murrayslatter.me\/?p=2953","url_meta":{"origin":5619,"position":1},"title":"Unveiling Mission X: A Paradigm Shift in Mission Investing","author":"Murray Slatter","date":"January 1, 2024","format":false,"excerpt":"Unveiling Mission X. Our unique investment philosophy is centred on generating market beating returns that drive dividend growth and distributions to Ministry Training Candidates. Investing with Purpose At the core of our strategy is a commitment to long-term investment, a practice we've detailed in \"Investing with Purpose: The Mission X\u2026","rel":"","context":"In &quot;MissionX&quot;","block_context":{"text":"MissionX","link":"https:\/\/murrayslatter.me\/?cat=27"},"img":{"alt_text":"In a world where the immediacy of returns often overshadows REAL opportunity in investment compounding, Mission X stands as a beacon of profound impact. Here we introducte to the unique blend of long-term investment strategy and philanthropy that defines Mission X","src":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/02\/Slide1-1.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/02\/Slide1-1.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/02\/Slide1-1.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/02\/Slide1-1.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/02\/Slide1-1.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":2857,"url":"https:\/\/murrayslatter.me\/?p=2857","url_meta":{"origin":5619,"position":2},"title":"The Long Game: Why High Risk Equals Low Risk Over Time","author":"Murray Slatter","date":"February 24, 2024","format":false,"excerpt":"In the intricate dance of investing, the relationship between risk and return has long been the subject of debate and analysis. Conventional wisdom suggests a direct correlation: higher risk demands higher potential returns. However, at Mission X, we subscribe to a more nuanced perspective, especially when viewed through the lens\u2026","rel":"","context":"In &quot;MissionX&quot;","block_context":{"text":"MissionX","link":"https:\/\/murrayslatter.me\/?cat=27"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/02\/Slide8-1.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/02\/Slide8-1.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/02\/Slide8-1.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/02\/Slide8-1.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/02\/Slide8-1.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":2913,"url":"https:\/\/murrayslatter.me\/?p=2913","url_meta":{"origin":5619,"position":3},"title":"Growth Mindset: Adapting and Thriving in Long-Term Investing","author":"Murray Slatter","date":"February 24, 2024","format":false,"excerpt":"In the realm of long-term investing, particularly within the impact space, adopting a growth mindset is not just beneficial\u2014it's essential. This mindset, characterized by an embrace of challenges, a willingness to learn from setbacks, and the recognition of effort as a path to mastery, is what differentiates successful investors from\u2026","rel":"","context":"In &quot;MissionX&quot;","block_context":{"text":"MissionX","link":"https:\/\/murrayslatter.me\/?cat=27"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/02\/Slide23.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/02\/Slide23.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/02\/Slide23.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/02\/Slide23.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/02\/Slide23.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":4016,"url":"https:\/\/murrayslatter.me\/?p=4016","url_meta":{"origin":5619,"position":4},"title":"Why Time Horizon Matters","author":"Murray Slatter","date":"September 27, 2024","format":false,"excerpt":"Matching Your Investments to Your Financial Goals When it comes to investing, one of the most critical yet often overlooked factors is your time horizon\u2014the length of time you plan to hold an investment before you need to access your money. Whether you\u2019re saving for a down payment on a\u2026","rel":"","context":"In &quot;Investing&quot;","block_context":{"text":"Investing","link":"https:\/\/murrayslatter.me\/?cat=11"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/08\/Social-Impact-Fund.jpg?fit=720%2C405&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/08\/Social-Impact-Fund.jpg?fit=720%2C405&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/08\/Social-Impact-Fund.jpg?fit=720%2C405&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/08\/Social-Impact-Fund.jpg?fit=720%2C405&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":3771,"url":"https:\/\/murrayslatter.me\/?p=3771","url_meta":{"origin":5619,"position":5},"title":"Mastering Capital Allocation for Strategic Success","author":"Murray Slatter","date":"August 11, 2024","format":false,"excerpt":"Introduction to the Series Capital allocation is the cornerstone of effective leadership and long-term business success. In a rapidly evolving business environment, the ability to allocate resources strategically can mean the difference between thriving and merely surviving. This series of articles delves into the key aspects of capital allocation, providing\u2026","rel":"","context":"In &quot;Master Class&quot;","block_context":{"text":"Master Class","link":"https:\/\/murrayslatter.me\/?cat=17"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/08\/Slide1.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/08\/Slide1.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/08\/Slide1.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/08\/Slide1.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2024\/08\/Slide1.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/murrayslatter.me\/index.php?rest_route=\/wp\/v2\/posts\/5619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/murrayslatter.me\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/murrayslatter.me\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/murrayslatter.me\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/murrayslatter.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5619"}],"version-history":[{"count":1,"href":"https:\/\/murrayslatter.me\/index.php?rest_route=\/wp\/v2\/posts\/5619\/revisions"}],"predecessor-version":[{"id":5665,"href":"https:\/\/murrayslatter.me\/index.php?rest_route=\/wp\/v2\/posts\/5619\/revisions\/5665"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/murrayslatter.me\/index.php?rest_route=\/wp\/v2\/media\/5664"}],"wp:attachment":[{"href":"https:\/\/murrayslatter.me\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/murrayslatter.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/murrayslatter.me\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}