Tootfinder

Multi-period Mean-Buffered Probability of Exceedance in Defined Contribution Portfolio Optimization
Duy-Minh Dang, Chang Chen
https://arxiv.org/abs/2505.22121

Multi-period Mean-Buffered Probability of Exceedance in Defined Contribution Portfolio Optimization
We investigate multi-period mean-risk portfolio optimization for long-horizon Defined Contribution plans, focusing on buffered Probability of Exceedance (bPoE), a more intuitive, dollar-based alternative to Conditional Value-at-Risk (CVaR). We formulate both pre-commitment and time-consistent Mean-bPoE and Mean-CVaR portfolio optimization problems under realistic investment constraints (e.g., no leverage, no short selling) and jump-diffusion dynamics. These formulations are naturally framed as …

Corruption & incompetence all in one!
Amtrak brings in Elon Musk's "Hyperloop" company to reassess plan for building new Northeast Corridor rail tunnel in Baltimore.
https://www.nytimes.com/2025/05/12…

Elon Musk’s Boring Company Is in Talks With Government Over Amtrak Project
The Federal Railroad Administration has brought in the tunneling company to see if it could help with a multibillion-dollar rail project.

Sorry to see the FEMA head fired. He’s right, eliminating FEMA is a terrible idea. Just canceling “non-disaster” funding will harm Americans and not really save money. Each dollar spent in preparedness saves $6-13 in post-disaster recovery, depending on how it is measured. Well, if there were no disasters, we’d save money, but pretending climate change isn’t real won’t help there either. By the way, states already do a ton of disaster preparedness and management—FEMA is the central standardi…