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π Kelly Criterion
In probability theory and intertemporal portfolio choice, the Kelly criterion (or Kelly strategy or Kelly bet), also known as the scientific gambling method, is a formula for bet sizing that leads almost surely to higher wealth compared to any other strategy in the long run (i.e. approaching the limit as the number of bets goes to infinity). The Kelly bet size is found by maximizing the expected value of the logarithm of wealth, which is equivalent to maximizing the expected geometric growth rate. The Kelly Criterion is to bet a predetermined fraction of assets, and it can seem counterintuitive. It was described by J. L. Kelly Jr, a researcher at Bell Labs, in 1956.
For an even money bet, the Kelly criterion computes the wager size percentage by multiplying the percent chance to win by two, then subtracting one-hundred percent. So, for a bet with a 70% chance to win the optimal wager size is 40% of available funds.
The practical use of the formula has been demonstrated for gambling and the same idea was used to explain diversification in investment management. In the 2000s, Kelly-style analysis became a part of mainstream investment theory and the claim has been made that well-known successful investors including Warren Buffett and Bill Gross use Kelly methods. William Poundstone wrote an extensive popular account of the history of Kelly betting.
Discussed on
- "Kelly Criterion" | 2021-04-16 | 330 Upvotes 194 Comments
π 7400-Series Integrated Circuits
The 7400 series of integrated circuits (ICs) are a popular logic family of transistorβtransistor logic (TTL) logic chips.
In 1964, Texas Instruments introduced the SN5400 series of logic chips, in a ceramic semiconductor package. A low-cost plastic package SN7400 series was introduced in 1966 which quickly gained over 50% of the logic chip market, and eventually becoming de facto standardized electronic components. Over the decades, many generations of pin-compatible descendant families evolved to include support for low power CMOS technology, lower supply voltages, and surface mount packages.
π Forest kindergarten
Forest kindergarten is a type of preschool education for children between the ages of three and six that is held almost exclusively outdoors. Whatever the weather, children are encouraged to play, explore and learn in a forest environment. The adult supervision is meant to assist rather than lead. It is also known as Waldkindergarten (in German), outdoor nursery, or nature kindergarten.
Discussed on
- "Forest kindergarten" | 2019-07-06 | 114 Upvotes 44 Comments
π Publius Enigma
The Publius Enigma is an Internet phenomenon and an unsolved problem that began with cryptic messages posted by a user identifying only as "Publius" to the unmoderated Usenet newsgroup alt.music.pink-floyd through the Penet remailer, a now defunct anonymous information exchange service. The messenger proposed a riddle in connection with the 1994 Pink Floyd album The Division Bell, promising that the answer would lead to a reward.
Guitarist David Gilmour denied any involvement, while album artist Storm Thorgerson was bemused. According to drummer Nick Mason, EMI Records were responsible. It remains unclear if the enigma involves a genuinely solvable puzzle as part of an early Internet-based contest or was a convoluted hoax.
Discussed on
- "Publius Enigma" | 2023-09-22 | 44 Upvotes 16 Comments
π Cosmological Lithium Problem
In astronomy, the lithium problem or lithium discrepancy refers to the discrepancy between the primordial abundance of lithium as inferred from observations of metal-poor (Population II) halo stars in our galaxy and the amount that should theoretically exist due to Big Bang nucleosynthesis+WMAP cosmic baryon density predictions of the CMB. Namely, the most widely accepted models of the Big Bang suggest that three times as much primordial lithium, in particular lithium-7, should exist. This contrasts with the observed abundance of isotopes of hydrogen (1H and 2H) and helium (3He and 4He) that are consistent with predictions. The discrepancy is highlighted in a so-called "Schramm plot", named in honor of astrophysicist David Schramm, which depicts these primordial abundances as a function of cosmic baryon content from standard BBN predictions.
π Combinatorial Explosion
In mathematics, a combinatorial explosion is the rapid growth of the complexity of a problem due to how the combinatorics of the problem is affected by the input, constraints, and bounds of the problem. Combinatorial explosion is sometimes used to justify the intractability of certain problems. Examples of such problems include certain mathematical functions, the analysis of some puzzles and games, and some pathological examples which can be modelled as the Ackermann function.
Discussed on
- "Combinatorial Explosion" | 2019-04-22 | 61 Upvotes 9 Comments
π Peter Naur has died
Peter Naur (25 October 1928 β 3 January 2016) was a Danish computer science pioneer and Turing award winner. His last name is the "N" in the BNF notation (BackusβNaur form), used in the description of the syntax for most programming languages. He contributed to the creation of the ALGOL 60 programming language.
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- "Peter Naur has died" | 2016-01-03 | 570 Upvotes 96 Comments
π Wikipedia links to HN
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- "Wikipedia links to HN" | 2013-09-15 | 125 Upvotes 25 Comments
π Proxy Firm
A proxy firm (also a proxy advisor, proxy adviser, proxy voting agency, vote service provider or shareholder voting research provider) provides services to shareholders (in most cases an institutional investor of some type) to vote their shares at shareholder meetings of, usually, quoted companies.
The typical services provided include agenda translation, provision of vote management software, voting policy development, company research, and vote administration including vote execution. According to their websites, not all firms provide voting recommendations and those that do may simply execute client voting instructions.
The votes executed are called "Proxy Votes" because the shareholder usually does not attend the meeting and instead sends instructions - a proxy appointment - for a third party, usually the chairman of the meeting to vote shares in accordance with the instructions given on the voting card.
π Protein Leverage Hypothesis
The protein leverage hypothesis states that human beings will prioritize the consumption of protein in food over other dietary components, and will eat until protein needs have been met, regardless of energy content, thus leading to over-consumption of foodstuffs when their protein content is low.
This hypothesis has been put forward as a potential explanation of the obesity epidemic. Empirical tests have provided some evidence to confirm the hypothesis with one study suggesting that this could be a link between ultra-processed foods and the prevalence of obesity in the developed world.
In the 1980s, David Raubenheimer and Stephen Simpson, researchers now at the University of Sydney, began to study appetite and food intake in locusts. By studying responses to artificial diets with differing compositions of protein and carbohydrate, they developed the protein leverage hypothesis. Their experiments showed that those who aren't getting enough protein in their diet will continue to be hungry, even when their overall caloric intake is high. "Protein decoys", such as ultraprocessed savory foods that contain little protein (e.g., barbecue chips), are likely to be attractive and to result in overeating. The hormone FGF21, which is released from the liver, can drive savory-seeking behavior under conditions of low protein intake. However, extremely high protein diets can also have drawbacks. In 2020 Simpson and Raubenheimer published the popular science book Eat Like the Animals: What Nature Teaches Us about the Science of Healthy Eating, which details their experiments. For lifelong health they recommend eating a balanced diet with more fiber and fewer fats and carbohydrates rather than an extremely high protein diet.
In 1995, Australian researcher Susanna Holt developed the concept of satiety value, a measure of how much a given food is likely to satisfy the hunger of someone. High protein foods have been found to have high satiety values, though these are outmatched by potatoes and oats (which have a low glycemic index). Fruits rank similarly to high protein foods (likely due to their high level of dietary fibre).