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The log-optimal strategy in gambling and asset allocation problem attempts to maximize the expectation of the logarithmic rate of return but not the gross wealth itself. This strategy has been shown to have long termsuperiority overother strategies in theory. Another remarkable virtue is it allows updating the real-time market information quickly which could increase of the logarithmic rate of return. We will prove these properties ourselves in a simple way. We further consider how to do asset allocation by applying the log-optimal strategy in practice. The distribution function of the returns is usually unknown and need to be estimated from the history in a real world. The estimation error will affect the asset allocation directly, but such effect mayresult in a "butterfly effect" which could bring an investment disaster. Therefore, it is an important issue to answer whether there is logoptimal strategy resisted "butterfly effect". We develop a new log-optimal strategy based on the allocation utility which is a quadratic approximation to the expectation of the logarithmic rate of return. We show that the upper bound of the allocation utility deviation can be controlled by the l_1-norm of portfolio and l_∞-norm of the bias of variance matrix estimator. This turns out that our proposed strategy is robust. We apply our strategy for NYSE data. The results showed that our strategy has high performance in return.

The contact discontinuity is one of the basic wave patterns in gas motions. The stability of contact discontinuities with general perturbations for the NavierStokes equations and the Boltzmann equation is a long standing open problem. General perturbations of a contact discontinuity may generate diffusion waves which evolve and interact with the contact wave to cause analytic difficulties. In this paper, we succeed in obtaining the large time asymptotic stability of a contact wave pattern with a convergence rate for the NavierStokes equations and the Boltzmann equation in a uniform way. One of the key observations is that even though the energy norm of the deviation of the solution from the contact wave may grow at the rate (1+ t) 1 4, it can be compensated by the decay in the energy norm of the derivatives of the deviation which is of the order of (1+ t) 1 4. Thus, this reciprocal order of decay rates for the time

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We hypothesize a new and more complete set of anomalies of certain quantum field theories (QFTs) and then give an eclectic proof. First, we propose a set of 't Hooft anomalies of 2d $\mathbb{CP}^{\mathrm{N}-1}$-sigma models at $\theta=\pi$, with N $=2,3,4$ and others, by enlisting all possible 3d cobordism invariants and selecting the matched terms. Second, we propose a set of 't Hooft higher anomalies of 4d time-reversal symmetric SU(N)-Yang-Mills (YM) gauge theory at $\theta=\pi$, via 5d cobordism invariants (higher symmetry-protected topological states) such that compactifying YM theory on a 2-torus matches the constrained 3d cobordism invariants from sigma models. Based on algebraic/geometric topology, QFT analysis, manifold generator dimensional reduction, condensed matter inputs and additional physics criteria, we derive a correspondence between 5d and 3d new invariants, thus broadly prove a more complete anomaly-matching between 4d YM and 2d $\mathbb{CP}^{\mathrm{N}-1}$ models via a twisted 2-torus reduction, done by taking the Poincar\'e dual of specific cohomology class with $\mathbb{Z}_2$ coefficients. We formulate a higher-symmetry analog of "Lieb-Schultz-Mattis theorem" to constrain the low-energy dynamics.