Kelly Growth criterion

I was reading Kyle Mowery's blog post as it relates to investing but I find it hard to reconcile two things:

1. The outcome is assumed to have no relationship to any other investment you make ? Not a good idea...

and

2. (Based on what ?) you "specify a time period before entering a position ?"

Quote:


Nassim Taleb lavishes praise on the Kelly Growth Criterion: “Kelly’s method requires no joint distribution or utility function. In practice one needs the ratio of expected profit to worst-case return – dynamically adjusted to avoid ruin.”