When I was a young guy who happened to be partner in a hedge fund, I used to ask candidates about this.

I kinda regret it now. I'm not sure what I was trying to find out from people. I guess in some way it's a cultural question masquerading as a technical question, because it reveals whether you've heard of it and whether you have heard of the standard stuff that's said about it:

- Don't do full Kelly because if you're on the wrong side (too big bets) that's definitely bad.

- Depends on the probabilities being static.

- You can find a continuous form of it. You can also find the implied leverage from the Sharpe ratio.

I wonder if my memory is even correct on these. But the point remains that it's not terribly useful as a thing to evaluate people with. I guess the question "How do you size your positions?" needs to start somewhere.