Application of the Kelly Criterion to Ornstein-Uhlenbeck Processes

In this paper, we study the Kelly criterion in the continuous time framework building on the work of E.O. Thorp and others. The existence of an optimal strategy is proven in a general setting and the corresponding optimal wealth process is found. A simple formula is provided for calculating the optimal portfolio for a set of price processes satisfying some simple conditions. Properties of the optimal investment strategy for assets governed by multiple Ornstein-Uhlenbeck processes are studied. The paper ends with a short discussion of the implications of these ideas for financial markets.Comment: presented at Complex'2009 (Shanghai, Feb. 23-25

Influence of Roughness and Disorder on Tunneling Magnetoresistance

A systematic, quantitative study of the effect of interface roughness and disorder on the magnetoresistance of FeCo$|$vacuum$|$FeCo magnetic tunnel junctions is presented based upon parameter-free electronic structure calculations. Surface roughness is found to have a very strong effect on the spin-polarized transport while that of disorder in the leads (leads consisting of a substitutional alloy) is weaker but still sufficient to suppress the huge tunneling magneto-resistance (TMR) predicted for ideal systems

Genome-wide linkage scan for loci associated with epilepsy in Belgian shepherd dogs.

BackgroundIdiopathic epilepsy in the Belgian shepherd dog is known to have a substantial genetic component. The objective of this study was to identify genomic regions associated with the expression of generalized seizures in the Belgian Tervuren and Sheepdog.ResultsDNA from 366 dogs, of which 74 were classified as epileptic, representing two extended families were subjected to a genome-wide linkage scan using 410 microsatellite markers yielding informative coverage averaging 5.95 +/- 0.21 Mb. Though previous studies based on pedigree analyses proposed a major gene of influence, the present study demonstrated the trait to be highly polygenic. Studies of complex disorders in humans indicate that a liberal composite evaluation of genetic linkage is needed to identify underlying quantitative trait loci (QTLs). Four chromosomes yielded tentative linkage based upon LOD scores in excess of 1.0. Possible QTLs within these regions were supported also by analyses of multipoint linkage, allele frequency, TDT, and transmission of haplotype blocks.ConclusionsTaken together the data tentatively indicate six QTLs, three on CFA 2, and one on each of CFA 6, 12, and 37, that support fine mapping for mutations associated with epilepsy in the Belgian shepherd. The study also underscores the complexity of genomic linkage studies for polygenic disorders

Spin-injection through an Fe/InAs Interface

The spin-dependence of the interface resistance between ferromagnetic Fe and InAs is calculated from first-principles for specular and disordered (001) interfaces. Because of the symmetry mismatch in the minority-spin channel, the specular interface acts as an efficient spin filter with a transmitted current polarisation between 98 an 89%. The resistance of a specular interface in the diffusive regime is comparable to the resistance of a few microns of bulk InAs. Symmetry-breaking arising from interface disorder reduces the spin asymmetry substantially and we conclude that efficient spin injection from Fe into InAs can only be realized using high quality epitaxial interfaces.Comment: 4 pages, 4 figure

Quenching of Spin Hall Effect in Ballistic nano-junctions

We show that a nanometric four-probe ballistic junction can be used to check the presence of a transverse spin Hall current in a system with a Spin Orbit coupling not of the Rashba type, but rather due to the in-plane electric field. Indeed, the spin Hall effect is due to the presence of an effective small transverse magnetic field corresponding to the Spin Orbit coupling generated by the confining potential. The strength of the field and the junction shape characterize the quenching Hall regime, usually studied by applying semi-classical approaches. We discuss how a quantum mechanical relativistic effect, such as the Spin Orbit one, can be observed in a low energy system and explained by using classical mechanics techniques.Comment: 5 pages, 4 figures, PACS: 72.25.-b, 72.20.My, 73.50.Jt, to appear in Phys. Rev.

Healthiness from Duality

Healthiness is a good old question in program logics that dates back to Dijkstra. It asks for an intrinsic characterization of those predicate transformers which arise as the (backward) interpretation of a certain class of programs. There are several results known for healthiness conditions: for deterministic programs, nondeterministic ones, probabilistic ones, etc. Building upon our previous works on so-called state-and-effect triangles, we contribute a unified categorical framework for investigating healthiness conditions. We find the framework to be centered around a dual adjunction induced by a dualizing object, together with our notion of relative Eilenberg-Moore algebra playing fundamental roles too. The latter notion seems interesting in its own right in the context of monads, Lawvere theories and enriched categories.Comment: 13 pages, Extended version with appendices of a paper accepted to LICS 201

The search for novel analgesics: re-examining spinal cord circuits with new tools

In this perspective, we propose the absence of detailed information regarding spinal cord circuits that process sensory information remains a major barrier to advancing analgesia. We highlight recent advances showing that functionally discrete populations of neurons in the spinal cord dorsal horn play distinct roles in processing sensory information. We then discuss new molecular, electrophysiological, and optogenetic techniques that can be employed to understand how dorsal horn circuits process tactile and nociceptive information. We believe this information can drive the development of entirely new classes of pharmacotherapies that target key elements in spinal circuits to selectively modify sensory function and blunt pain

Single-, Dual- and Triple-band Frequency Reconfigurable Antenna

The paper presents a frequency reconfigurable slot dipole antenna. The antenna is capable of being switched between single-band, dual-band or triple-band operation. The antenna incorporates three pairs of pin-diodes which are located within the dipole arms. The antenna was designed to operate at 2.4 GHz, 3.5 GHz and 5.2 GHz using the aid of CST Microwave Studio. The average measured gains are 1.54, 2.92 and 1.89 dBi for low, mid and high band respectively. A prototype was then constructed in order to verify the performance of the device. A good level of agreement was observed between simulation and measurement