[Mason Malmuth]

Hi Jaquen H'gar:

You wrote:

[ QUOTE ]
Actually, professional gamblers who use risk-aversion, i.e. always considering EV/var rather than simply EV usually perform better over the long term than those who don't.

[/ QUOTE ]

While this statement is true, it's very misleading as written. The true expert gamblers do push their edges far more than less knowledgeable people who do know something about gambling. But on the other hand, they are not completely foolhardy. You may want to look at the discussion of "Non-Self Weighting Strategies" in my book Gambling Theory and Other Topics.

Best wishes,
Mason