I do pretty much all my own investing, and not only do I enjoy it but I do well for the most part. I'm relatively young, (30), and I don't mind some risk, so lately I have been diversifying my portfolio into other areas. One thing I have done is start betting on sports more consistently. I think it can be beaten long-term by using statistics, and the ROR has the potential to be great. One of the major differences I have seen is the need to manage money much more vigilantly than with traditional investments. Even if yo lose some money with a stock, buy for $40 sell for $30, you only lost 25%. With sorts betting, you either double up or have 0. This makes for some huge swings in your investments bankroll. To account for this I have been using the Kelly criterion I first heard about it because of Warren Buffett, to determine my optimal bet size. Things have been going really well so far, but I'm still open. I'm looking for any advice, feedback, critique, questions etc.
