Optimal f and Portfolio Return Optimisation in US Futures Markets

While considerable evidence has been produced concerning the efficacy of trading rules in futures markets, the results have generally not allowed for the reinvestment of profits as might be observed for real traders. Similarly, the determination of the appropriate capital allocation required per futures contract traded has been largely unstructured so making reported percentage returns questionable. This paper provides evidence of the profitability of a simple and publicly available trading rule in five futures markets but more importantly incorporates the ability to reinvest any profits via the ‘Optimal f’ technique described by Vince (1990). The results indicate that money management in speculative futures trading plays a more important role in trading rule profitability than previously considered by providing dramatic differences in profitability depending on how aggressively the trader capitalises each futures contract.Futures, Optimal f, Money Management, Trading Rules, Technical Analysis.

Raw Sewage Stabilization Ponds as a Means of Sewage Treatment

The successful operation of sewage stabilization ponds by a number of North and South Dakota communities during the past few years has shown this method of disposal to be adequate in taking care of the needs of small communities. Since land is relatively cheap compared to construction work involved in the building of a sewage treatment plant, and since the actual construction cost of a stabilization pond I s a comparatively small figure, this type of treatment has been readily accepted by the smaller communities. Because stabilization ponds are primarily successful due to solar radiation and vary according to climatic seasons, the concentrated study was for a three-day period during each of the four seasons in 1955. The first field study was begun in January, 1955, at which time all stabilization ponds were heavily covered with ice. The other three seasonal studies were carried out in the spring, shortly after transition from ice cover to open water, but before hot summer weather, during the summer, and during the fall just before freeze up. The five installations listed below were selected for study on the basis of variation of design, loading, depth, area, type of inlet and outlet structures, and other considerations and characteristics. The installations were: Kadoka, SD; Wall, SD; Lemmon, SD; Maddock, ND; and Wishek, ND. The three types of observations made throughout the investigation which conformed to the standards of the 10th Edition of Standard methods for the Examination of Water and Sewage published by the American Public Health Association were: physical, biological, and chemical

31st Plenary Meeting Report Of the Scientific, Technical and Economic Committee for Fisheries (PLEN-09-02)

The Scientific, Technical and Economic Committee for Fisheries hold its 31st plenary on 13-17 July 2009 in Copenhagen. The terms of reference included both issues assessments of STECF working group reports and additional requests submitted to the STECF by the Commission. Topics dealt with ranged from fisheries economics to management plan evaluation issues.JRC.DG.G.4-Maritime affair

Review of South African live load models for traffic loading on bridge and culvert structures using weigh-in-motion (WIM) data

Includes bibliographical references.This thesis uses the axle weights and axle spacings of heavy vehicles recorded by weigh-in-motion (WIM) sensors to calculate the load effects on single lane, simply supported structures spanning up to 30m. The main objective was to compare the load effects caused by the recorded vehicles with those calculated using TMH7 Part 2 and the alternative live load models proposed in subsequent research. Through the probabilistic analysis of the truck survey data, the thesis predicts the magnitude of extreme events that may occur within a bridge structure's design life. The results reinforce the deï¬ ciencies of TMH7 Part 2's NA loading curve to cater for normal traffic conditions on spans of 10m and less. They also highlight the conservative assumptions made in the conï¬ guration of vehicle convoys used to simulate serviceability loads in 20m to 30m spans. The ï¬ ndings of the thesis support the need for the rational calibration of the partial factors used in limit state design. The WIM data was analysed to highlight the extent of overloading. The results provide evidence that the overloading of individual axles and axle sets is prevalent and that overloading has a greater impact on 5m and 10m spans than 30m spans. Research was carried out into the basis of the bridge live load models in TMH7 Part 2 and those recently developed in Europe, the United States and Canada. The thesis documents the advancement of rationally based live load models derived from actual vehicle data. Alternative live load models were calibrated against the extreme events predicted by the WiM data. The results independently validate the alternative live load model proposed by the latest research commissioned by the Department of Transport. This live load model takes a similar form to the one proposed in the Eurocode - ENV 1991-3

Foreign direct investment from China to developed economies: do extant conceptual and policy frameworks explain the cross-border investment behaviour of Chinese MNEs?

The growth of Chinese MNEs has stimulated great interest in their outward foreign direct investment (FDI) strategies. This thesis attempts to contribute to the theoretical debate as to the usefulness of extant MNE conceptual and theoretical models. Theoretical frameworks are tested through the analysis of Chinese MNE FDI to developed economies, which are rich in strategic assets. The thesis is broken down into five main chapters. Chapter one examines the literature on Chinese MNEs and the conceptual frameworks used to understand their international investment behaviour in developed economies. Chapter two contributes to the rapidly growing theoretical literature set on Chinese MNEs which argues they use aggressive acquisitions, often to psychically distant, developed host countries, to obtain the strategic assets that they themselves lack. My results are broadly supportive of the growing theoretical literature on Chinese MNEs, arguing acquisitions are the primary mode of strategic asset seeking in developed markets. Chapter three evaluates the outcomes of strategic asset acquisitions. This chapter focuses specifically on the extent to which Chinese MNEs are able to absorb and productively harness the intangible strategic assets of their developed market acquisitions. In this chapter, I find no significant results for target country patent generation. Domestic (Chinese market) patents, however, rise significantly in the wake of acquiring an innovative firm from Japan, the US or Europe. Chapter four analyses the efficacy of developed market policies in generating FDI from China. I find that the presence of investment promotion agencies significantly increases the propensity for a Chinese firm to locate in a given location. Chapter five provides the conclusion for this thesis

Workshop - Amundsen Sea Embayment Tectonic and Glacial History - Programme and Abstracts

Overall Objective: Review existing data and identify priorities for future geoscience research (terrestrial, marine and airborne) in the Amundsen Sea embayment (ASE) region required to develop a better understanding of the past, present and future behaviour of this sector of the West Antarctic Ice Sheet (WAIS). Background: The ASE is the most rapidly changing sector of the WAIS and contains enough ice to raise global sea level by 1.2 m. Over the past few years considerable efforts have been made to acquire new data to improve knowledge of the geological structure, subglacial topography, continental shelf bathymetry and glacial history of this remote region. In this workshop we aim to review the current state of knowledge on the tectonic and glacial evolution of the Amundsen Sea embayment. Particular emphasis will be placed on work that will improve boundary conditions for ice sheet models (e.g. subglacial topography, shelf bathymetry, palaeotopography, heat flow and substrate types) and provide palaeo-data against which model outputs can be compared. There will also be a focus on plans and targets for future scientific drilling that will reveal the history of this sector of the WAIS and its sensitivity to major climate changes

America's North Coast: A Benefit-Cost Analysis of a Program to Protect and Restore the Great Lakes

Examines the baseline ecological conditions of the Great Lakes and offers a plan for the area's environmental protection and restoration. Demonstrates how a restoration program can provide economic benefits that substantially exceed its costs

Local Economic Development Incentives in the United States

Anderson and Wassmer examine the use and effectiveness of local economic development incentives within a specific region, the Detroit metropolitan area. The Detroit area serves as a good example, they say, because of the area\u27s 20-plus year track record of its communities offering the gamut of economic incentives aimed at redirecting economic activity and jobs. The evidence they uncover reveals factors that drive cities not just in this Southeast Michigan area, but nationwide to offer particular types of incentives that are more or less generous than those offered by their neighbors.https://research.upjohn.org/up_press/1059/thumbnail.jp

Bidding for Business: The Efficacy of Local Economic Development Incentives in a Metropolitan Area

Anderson and Wassmer examine the use and effectiveness of local economic development incentives within a specific region, the Detroit metropolitan area. The Detroit area serves as a good example, they say, because of the area\u27s 20-plus year track record of its communities offering the gamut of economic incentives aimed at redirecting economic activity and jobs. The evidence they uncover reveals factors that drive cities not just in this Southeast Michigan area, but nationwide to offer particular types of incentives that are more or less generous than those offered by their neighbors.https://research.upjohn.org/up_press/1059/thumbnail.jp