This volume provides the definitive treatment of fortune's formula or the Kelly capital growth criterion as it is often called. The strategy is to maximize long run wealth of the investor by maximizing the period by period expected utility of wealth with a logarithmic utility function. Mathematical theorems show that only the log utility function maximizes asymptotic long run wealth and minimizes the expected time to arbitrary large goals. In general, the strategy is risky in the short term but as the number of bets increase, the Kelly bettor's wealth tends to be much larger than those with essentially different strategies. So most of the time, the Kelly bettor will have much more wealth than these other bettors but the Kelly strategy can lead to considerable losses a small percent of the time. There are ways to reduce this risk at the cost of lower expected final wealth using fractional Kelly strategies that blend the Kelly suggested wager with cash. The various classic reprinted papers and the new ones written specifically for this volume cover various aspects of the theory and practice of dynamic investing. Good and bad properties are discussed, as are fixed-mix and volatility induced growth strategies. The relationships with utility theory and the use of these ideas by great investors are featured.

NATIONAL BEST SELLER A stunning, personal memoir from the astronaut and modern-day hero who spent a record-breaking year aboard the International Space Station—a message of hope for the future that will inspire for generations to come. The veteran of four spaceflights and the American record holder for consecutive days spent in space, Scott Kelly has experienced things very few have. Now, he takes us inside a sphere utterly hostile to human life. He describes navigating the extreme challenge of long-term spaceflight, both life-threatening and mundane: the devastating effects on the body; the isolation from everyone he loves and the comforts of Earth; the catastrophic risks of colliding with space junk; and the still more haunting threat of being unable to help should tragedy strike at home--an agonizing situation Kelly faced when, on a previous mission, his twin brother's wife, American Congresswoman Gabrielle Giffords, was shot while he still had two months in space. Kelly's humanity, compassion, humor, and determination resonate throughout, as he recalls his rough-and-tumble New Jersey childhood and the youthful inspiration that sparked his astounding career, and as he makes clear his belief that Mars will be the next, ultimately challenging, step in spaceflight. In Endurance, we see the triumph of the human imagination, the strength of the human will, and the infinite wonder of the galaxy.

This Handbook, with contributions from leading experts in the field, provides a comprehensive, state-of-the-art account of virtual environments (VE). It serves as an invaluable source of reference for practitioners, researchers, and students in this rapidly evolving discipline. It also provides practitioners with a reference source to guide

This debut story collection “masterfully navigates adverse conditions of migrant life while . . . managing to find joy and amusement, love and triumph” (San Francisco Chronicle). Gordo brings readers inside a migrant workers camp near Watsonville, California in the 1970s. At the heart of these interrelated stories is a young, probably gay, boy named Gordo, who must find a way to contend with the notions of manhood imposed on him by his father. As he comes of age, Gordo learns about sex, watches his father’s drunken fights, and discovers even his own documented Mexican-American parents are wary of illegal migrants. We also meet Fat Cookie, high schooler and resident artist who runs away from home one day with her mother’s boyfriend, Manny. And then there are Los Tigres, the twins who show up every season and whose drunken brawl ends with one of them rushed to the emergency room in an upholstered chair tied to the back of a pick-up truck. These scenes from Steinbeck Country are full of humor, family drama, and a sweet frankness about serious questions: Who belongs to America and how are they treated? How does one learn decency when grown adults must fear for their lives and livelihoods? Gordo “announces a vibrant new voice on the literary scene, at once wise and authentic and supremely gifted” (Booklist, starred review). Finalist for the 2022 Lambda Literary Award for Gay Fiction Longlisted for the Andrew Carnegie Medal for Excellence in Fiction