I've been meaning to ask about the MacLean book. Do you think it's a good buy for someone without a math background? It's kind of expensive, and I'm a bit afraid of getting a math textbook that I mostly won't understand.

Security Analysis is indeed drier and more complex than Intelligent Investor, but I can understand it just fine. Is it the same with Kelly Capital Growth or is it a lot more like a statistical journal paper that is 800 pages long? Thanks.

The book is probably half a statistical journal, with the other half of some interesting reads and a collection of anecdotes deeply researched for the pure Kelly nerd. So it depends on your point of view, if the glass is half full or empty. Yes,

at least over half the book is occupied with pure math formulas, very dry, and the other pages enjoyable, so readers with non-mathematical backgrounds have to step dance through the pages. You have no other choice.

Here is

an earlier version of their work from the year 2005 as a PDF file (63 pages), so you can get a feeling how the real updated book would look inside:

Hope this helps. Cheers!

Capital Growth: Theory and Practice

Leonard C. MacLean†and William T. Ziemba‡

September 29, 2005

http://stevanovichcenter.uchicago.edu/seminars/Handbook.pdf**For registered Amazon.com members there is also the free "Search Inside This Book" feature !**