Losing money with a high Sharpe ratio

A simple example shows that losing all money is compatible with a very high Sharpe ratio (as computed after losing all money). However, the only way that the Sharpe ratio can be high while losing money is that there is a period in which all or almost all money is lost. This note explores the best achievable Sharpe and Sortino ratios for investors who lose money but whose one-period returns are bounded below (or both below and above) by a known constant.Comment: 6 page

Scale distributions and fractal dimensions in turbulence

A new geometric framework connecting scale distributions to coverage statistics is employed to analyze level sets arising in turbulence as well as in other phenomena. A 1D formalism is described and applied to Poisson, lognormal, and power-law statistics. A d-dimensional generalization is also presented. Level sets of 2D spatial measurements of jet-fluid concentration in turbulent jets are analyzed to compute scale distributions and fractal dimensions. Lognormal statistics are used to model the level sets at inner scales. The results are in accord with data from other turbulent flows

Murray Gell-Mann, A Short Appreciation

On September 25, 2014 Murray Gell-Mann was presented with the Helmholz Medal of the Berlin Brandenburg Academy of Sciences and Humanities in a ceremony at the Santa Fe Institute. The author, among others, was asked to speak for fifteen minutes on Murray and his accomplishments. The following is an edited transcription of the author's speaking text.Comment: 6 pages, revtex, picture added, typos fixe

No Time Asymmetry from Quantum Mechanics

With CPT-invariant initial conditions that commute with CPT-invariant final conditions, the respective probabilities (when defined) of a set of histories and its CPT reverse are equal, giving a CPT-symmetric universe. This leads me to question whether the asymmetry of the Gell-Mann--Hartle decoherence functional for ordinary quantum mechanics should be interpreted as an asymmetry of {\it time} .Comment: 14 pages, Alberta-Thy-11-9

Improvement of mouth functional disability in systemic sclerosis patients over one year in a trial of fat transplantation versus adipose-derived stromal cells

Background. Systemic sclerosis (SSc) is a multisystem disease characterized by cutaneous and visceral fibrosis. Face and mouth changes include telangiectasia, sicca syndrome, and thinning and reduction of mouth width (microcheilia) and opening (microstomia). We applied autologous fat transplantation compared with autologous adipose-derived stromal cells (ADSCs) injection to evaluate the clinical improvement of mouth opening. Methods. From February to May 2013 ten consecutive SSc patients were enrolled from the outpatient clinic of Plastic Surgery Department of Sapienza University of Rome. Patients were divided into two groups as follows: 5 patients were treated with fat transplantation and 5 patients received infiltration of ADSCs produced by cell factory of our institution. To value mouth opening, we use the Italian version of Mouth Handicap in Systemic Sclerosis Scale (IvMHISS). Mouth opening was assessed in centimetres (Maximal Mouth Opening, MMO). In order to evaluate compliance and physician and patient satisfaction, we employed a Questionnaire of Satisfaction and the Visual Analogic Scale (VAS) performed before starting study and 1 year after the last treatment. Results and Conclusion. We noticed that both procedures obtained significant results but neither one emerged as a first-choice technique. The present clinical experimentation should be regarded as a starting point for further experimental research and clinical trials

A laser-induced heat flux technique for convective heat transfer measurements in high speed flows

A technique is developed to measure the local convective heat transfer coefficient on a model surface in a supersonic flow field. The technique uses a laser to apply a discrete local heat flux at the model test surface, and an infrared camera system determines the local temperature distribution due to the heating. From this temperature distribution and an analysis of the heating process, a local convective heat transfer coefficient is determined. The technique was used to measure the local surface convective heat transfer coefficient distribution on a flat plate at nominal Mach numbers of 2.5, 3.0, 3.5, and 4.0. The flat plate boundary layer initially was laminar and became transitional in the measurement region. The experimentally determined convective heat transfer coefficients were generally higher than the theoretical predictions for flat plate laminar boundary layers. However, the results indicate that this nonintrusive optical measurement technique has the potential to measure surface convective heat transfer coefficients in high speed flow fields

Monolithically integrated InAsSb-based nBnBn heterostructure on GaAs for infrared detection

High operating temperature i nfrared photo detectors with multi -color function that are capable of monolithic integration are of increasing importance in developing the next generation of mid -IR imag e sensors. Applications of these sensors include defense, medical diagnosis, environmental and astronomical observations. We have investigated a novel InAsSb -based nBnBn heterostructure that combines a state -of-art InAsSb nBn detector with an InAsSb/GaSb heterojuncti on detector . At room temperature, r educti on in the dark current density of more than an order of magnitude was achieved compared to previously investigated InAsSb/GaSb heterojunction dete ctors . Electrical characterization from cryogenic temperatures to roo m temperature confirmed that the nBnBn device was diffusion limited for temperature s above 150K. O ptical measurements demonstrated that the nBnBn detector was sensitive in both the SWIR and MWIR wavelength range at room temperature . The specific detectivity (D*) of the competed nBnBn devices was calculated to be 8.6 × 10 8 cm · Hz 1/2 W -1 at 300K and approximately 1.0 × 10 10 cm · Hz 1/2 W -1 when cooled down to 200K (with 0.3V reverse bias and 1550nm illumination ). In addition, all photodetector layers were grown monolithically on GaAs active layers u sing the interfacial misfit array growth mode . Our results therefore pave the way for the development of new active pixel designs for monolithically integrated mid -IR imaging arrays