Kelly Criterion revisited: optimal bets

Kelly criterion, that maximizes the expectation value of the logarithm of wealth for bookmaker bets, gives an advantage over different class of strategies. We use projective symmetries for a explanation of this fact. Kelly's approach allows for an interesting financial interpretation of the Boltzmann/Shannon entropy. A "no-go" hypothesis for big investors is suggested.Comment: APFA5 Conference, Torino, 200

Quantum-like approach to financial risk: quantum anthropic principle

We continue the analysis of quantum-like description of market phenomena and economics. We show that it is possible to define a risk inclination operator acting in some Hilbert space that has a lot of common with quantum description of the harmonic oscillator. The approach has roots in the recently developed quantum game theory and quantum computing. A quantum anthropic principle is formulatedComment: 6 pages, LaTeX, to be published in Acta Physica Polonica

The thermodynamics of portfolios

We propose a new method of valuation of portfolios and their respective investing strategies. To this end we define a canonical ensemble of portfolios that allows to use the formalism thermodynamics.Comment: 8 pages, LaTeX, appolb.cls is require

K-band high power latching switch

A 19 GHz waveguide latching switch with a bandwidth of 1400 MHz and an exceptionally low insertion loss of 0.25 dB was demonstrated. The RF and driver ferrites are separate structures and can be optimized individually. This analysis for each structure is separately detailed. Basically, the RF section features a dual turnstile junction. The circulator consists of a dielectric tube which contains two ferrite rods, and a dielectric spacer separating the ferrite parts along the center of symmetry of the waveguide to form two turnstiles. This subassembly is indexed and locked in the center of symmetry of a uniform junction of three waveguides by the metallic transformers installed in the top and bottom walls of the housing. The switching junction and its actuating circuitry met all RF performance objectives and all shock and vibration requirements with no physical damage or performance degradation. It exceeds thermal requirements by operating over a 100 C temperature range (-44 C to +56 C) and has a high power handling capability allowing up to 100 W of CW input power