Category: kyefnxim

A line on string theory

first_imgA Harvard theoretical physicist has discussed with scientists at the Large Hadron Collider in Switzerland the possibility that they may discover a theorized “stau” particle, with a lifetime of a minute or so, that could provide the first experimental confirmation of string theory.String theory, developed in the late 1960s and early ’70s, is a theoretical physicists’ multitool, explaining in one model all four of the universe’s main forces: gravity, electromagnetism, and the two that operate inside atomic nuclei, the strong force and the weak force.Without string theory, physicists need two theories to explain how the universe works. General relativity explains gravity, while the other three basic forces are explained by the “standard model.” Moreover, gravity has been very difficult to reconcile with quantum theory, a problem for which string theory offers a solution.A major problem with string theory, however, is that it has never been confirmed experimentally, which is where Donner Professor of Science Cumrun Vafa and the Large Hadron Collider (LHC) come in.Several years of work with graduate student Jonathan Heckman, who graduated in June, and other colleagues, has led Vafa to suggest that a particle whose properties are predicted by string theory may be detectable at the energy levels produced by the LHC.The LHC is the world’s largest particle collider, located in a 16.8-mile-long underground ring that runs from Switzerland under the border into France and back. Once it is fully operational, it should be able to smash beams of protons into each other with an energy of 14 trillion electron volts, seven times more powerful than the current highest-power collider, the Tevatron at the Fermi National Accelerator Laboratory in Illinois.After glitches and equipment failures marred the LHC’s start last year, operators are trying again this month. In late October, scientists at CERN, the European Organization for Nuclear Research, were celebrating the first particles to enter sectors of the accelerator since it was shut down.Operators expect a gradual ramp-up of activity, first circling beams, then creating low-power collisions, and slowly increasing the collisions’ energy. Vafa isn’t the only Harvard faculty member eagerly anticipating the LHC start-up. Harvard experimental physicists have lent a hand to build ATLAS, one of the two main detectors there. Other theoretical physicists, including Lisa Randall, the Frank Baird Jr. Professor of Science, and Howard Georgi, the Mallinckrodt Professor of Physics, also await the light that the LHC will shed on their work.Most physicists expect the LHC will discover the elusive particle known as “Higgs,” which is the origin of mass for all known particles. One major remaining question is what else the LHC might discover.Vafa traveled to CERN in late October to discuss with teams of scientists at the two main detectors on what else they might see. If the assumptions that he and Heckman make in the context of string theory are valid, Vafa said, the two lightest of the new particles are the gravitino and the stau. The gravitino, however, is so weakly interactive that it is hard to produce directly, Vafa said. A stau particle, however, is easier to produce and should be semi-stable, lasting as long as a minute. And it should leave a signature track — unexplainable by any of the already-observed particles — as it streaks across the LHC’s detectors.“It would be the smoking gun for our stringy models,” Vafa said.While Vafa and Heckman’s work predicts there is a good likelihood of generating a stau particle, there is also a less likely possibility that a semi-stable neutral particle will be generated. If the particle proves neutral, it won’t manifest itself in a way that the LHC’s detectors would see. It could still be found, but indirectly. If the particle is created and escapes the accelerator, it would manifest as missing energy and could be located as scientists tally their experimental results.Vafa and Heckman came up with their stau conclusion by winnowing the many possibilities in string theory. One difficulty of the theory, Vafa said, is its flexibility. String theory has hundreds of variables, which he described as “dials” that physicists can turn up and down to generate innumerable possible universes.While that is interesting to theoreticians, Vafa said, it can also muddy the theoretical search for one universe: ours.Vafa and Heckman devised two constraints that greatly narrowed the possible string universes. First, they assumed that gravity does not have to play a role in the unification of the other three forces. And second, they assumed that one property of string theory, called supersymmetry, is present at the energy levels generated by the LHC.If string theory is correct, our universe is made up not of particles, as has been generally taught, but of tiny vibrating strings. The different vibrations manifest themselves as the familiar particles and forces that students learn about in physics class.In addition to string theory’s ability to encompass gravity and the other forces in one framework, it can also fill a second important theoretical gap in understanding the universe, by explaining all the missing matter.The known constellation of particles under conventional theories — electrons, quarks, neutrinos, and the like — can only account for about a sixth of the matter in the universe. The rest of it is made up of theorized “dark matter,” whose form remains unknown.Dark matter is explained in string theory by the concept of supersymmetry. Supersymmetry, which was first discovered in the context of string theory, holds that for each known particle there is a corresponding particle of different spin. At the time of the big bang, the theory says, the paired particles had similar properties such as mass and charge, but as the universe cooled off, the symmetry got broken. Now, according to the theory, in our broken-symmetry universe, the supersymmetric particles have much higher masses than their known partners. This higher mass also would explain why scientists haven’t seen them yet, since particle colliders must generate more energy than they have been able to do to create them. In the stringy models of Vafa and Heckman, the gravitino, which is predicted to be about 100 times more massive than the electron, comprises the bulk of the dark matter.With the start-up of the LHC, Vafa said, science may be on the threshold of energies needed to create new supersymmetric particles, and of gaining a new understanding of the universe.“I think it’s probably the most exciting experiment we’ll see in our lifetimes,” Vafa said of the LHC. “We’ll be excited by whatever they find — whether or not they confirm our predictions — because it’s the truth of nature, and it will teach us about the fundamental ways nature works.”A Harvard theoretical physicist has discussed with scientists at the Large Hadron Collider in Switzerland the possibility that they may discover a theorized “stau” particle, with a lifetime of a minute or so, that could provide the first experimental confirmation of string theory. A Harvard theoretical physicist has discussed with scientists at the Large Hadron Collider in Switzerland the possibility that they may discover a theorized “stau” particle, with a lifetime of a minute or so, that could provide the first experimental confirmation of string theory.String theory, developed in the late 1960s and early ’70s, is a theoretical physicists’ multitool, explaining in one model all four of the universe’s main forces: gravity, electromagnetism, and the two that operate inside atomic nuclei, the strong force and the weak force.Without string theory, physicists need two theories to explain how the universe works. General relativity explains gravity, while the other three basic forces are explained by the “standard model.” Moreover, gravity has been very difficult to reconcile with quantum theory, a problem for which string theory offers a solution.A major problem with string theory, however, is that it has never been confirmed experimentally, which is where Donner Professor of Science Cumrun Vafa and the Large Hadron Collider (LHC) come in.Several years of work with graduate student Jonathan Heckman, who graduated in June, and other colleagues, has led Vafa to suggest that a particle whose properties are predicted by string theory may be detectable at the energy levels produced by the LHC.The LHC is the world’s largest particle collider, located in a 16.8-mile-long underground ring that runs from Switzerland under the border into France and back. Once it is fully operational, it should be able to smash beams of protons into each other with an energy of 14 trillion electron volts, seven times more powerful than the current highest-power collider, the Tevatron at the Fermi National Accelerator Laboratory in Illinois.After glitches and equipment failures marred the LHC’s start last year, operators are trying again this month. In late October, scientists at CERN, the European Organization for Nuclear Research, were celebrating the first particles to enter sectors of the accelerator since it was shut down.Operators expect a gradual ramp-up of activity, first circling beams, then creating low-power collisions, and slowly increasing the collisions’ energy. Vafa isn’t the only Harvard faculty member eagerly anticipating the LHC start-up. Harvard experimental physicists have lent a hand to build ATLAS, one of the two main detectors there. Other theoretical physicists, including Lisa Randall, the Frank Baird Jr. Professor of Science, and Howard Georgi, the Mallinckrodt Professor of Physics, also await the light that the LHC will shed on their work.Most physicists expect the LHC will discover the elusive particle known as “Higgs,” which is the origin of mass for all known particles. One major remaining question is what else the LHC might discover.Vafa traveled to CERN in late October to discuss with teams of scientists at the two main detectors on what else they might see. If the assumptions that he and Heckman make in the context of string theory are valid, Vafa said, the two lightest of the new particles are the gravitino and the stau. The gravitino, however, is so weakly interactive that it is hard to produce directly, Vafa said. A stau particle, however, is easier to produce and should be semi-stable, lasting as long as a minute. And it should leave a signature track — unexplainable by any of the already-observed particles — as it streaks across the LHC’s detectors.“It would be the smoking gun for our stringy models,” Vafa said.While Vafa and Heckman’s work predicts there is a good likelihood of generating a stau particle, there is also a less likely possibility that a semi-stable neutral particle will be generated. If the particle proves neutral, it won’t manifest itself in a way that the LHC’s detectors would see. It could still be found, but indirectly. If the particle is created and escapes the accelerator, it would manifest as missing energy and could be located as scientists tally their experimental results.Vafa and Heckman came up with their stau conclusion by winnowing the many possibilities in string theory. One difficulty of the theory, Vafa said, is its flexibility. String theory has hundreds of variables, which he described as “dials” that physicists can turn up and down to generate innumerable possible universes.While that is interesting to theoreticians, Vafa said, it can also muddy the theoretical search for one universe: ours.Vafa and Heckman devised two constraints that greatly narrowed the possible string universes. First, they assumed that gravity does not have to play a role in the unification of the other three forces. And second, they assumed that one property of string theory, called supersymmetry, is present at the energy levels generated by the LHC.If string theory is correct, our universe is made up not of particles, as has been generally taught, but of tiny vibrating strings. The different vibrations manifest themselves as the familiar particles and forces that students learn about in physics class.In addition to string theory’s ability to encompass gravity and the other forces in one framework, it can also fill a second important theoretical gap in understanding the universe, by explaining all the missing matter.The known constellation of particles under conventional theories — electrons, quarks, neutrinos, and the like — can only account for about a sixth of the matter in the universe. The rest of it is made up of theorized “dark matter,” whose form remains unknown.Dark matter is explained in string theory by the concept of supersymmetry. Supersymmetry, which was first discovered in the context of string theory, holds that for each known particle there is a corresponding particle of different spin. At the time of the big bang, the theory says, the paired particles had similar properties such as mass and charge, but as the universe cooled off, the symmetry got broken. Now, according to the theory, in our broken-symmetry universe, the supersymmetric particles have much higher masses than their known partners. This higher mass also would explain why scientists haven’t seen them yet, since particle colliders must generate more energy than they have been able to do to create them. In the stringy models of Vafa and Heckman, the gravitino, which is predicted to be about 100 times more massive than the electron, comprises the bulk of the dark matter.With the start-up of the LHC, Vafa said, science may be on the threshold of energies needed to create new supersymmetric particles, and of gaining a new understanding of the universe.“I think it’s probably the most exciting experiment we’ll see in our lifetimes,” Vafa said of the LHC. “We’ll be excited by whatever they find — whether or not they confirm our predictions — because it’s the truth of nature, and it will teach us about the fundamental ways nature works.”last_img read more

Vaccine vacuum

first_imgPublic immunization efforts may be much more sensitive to small changes than previously realized in the perceived costs or risks of vaccination, scientists at Harvard University report this week. In some cases, the spread of vaccine avoidance via social networks can make the difference between a minor, localized outbreak and an epidemic four times as large.The finding, published in Proceedings of the Royal Society B, comes amid one of the worst pertussis outbreaks in 50 years, in which 1,500 Californians have contracted whooping cough. Public health officials have cited reduced vigilance in vaccinating against the disease, which sickens 90 percent of those exposed to it.“People sometimes say that voluntary vaccination is doomed to fail because of the ‘free-rider’ problem, in which people assume they will be protected by other people’s immunity,” said co-author Daniel I. Rosenbloom, a graduate student in Harvard’s Program for Evolutionary Dynamics, led by Martin A. Nowak. “We find that’s not true, as a population of self-interested people can defeat an epidemic. But the trouble is, success is sensitive to small changes in perception of a vaccine’s costs – in terms of money, time, inconvenience, or perceived side effects.”Together with lead author Feng Fu, Rosenbloom and Nowak are the first researchers to incorporate epidemiological data into modeling of how vaccination spreads by imitation in a social network. They found that increasing vaccination cost prompts more free-riding and leads to larger epidemics.“Herd immunity in a social network is fragile,” said Fu, a postdoctoral researcher in mathematical biology at Harvard. “As public perceptions of vaccine side effects change, a population can rapidly switch from high vaccination and herd immunity to low vaccination and a larger epidemic.”The good news, the authors say, is that the sensitivity of vaccination to perceived costs cuts both ways, meaning it’s easy to get a population back on track with voluntary immunizations in the wake of an outbreak.The Harvard team found epidemics are amplified when individuals mimic others in their social network, such as by avoiding immunizations during vaccine scares. Behavior driven by “strong imitation” — reliance on anecdotal information from social contacts in deciding whether or not to immunize — could cause up to a 14 percent decline in vaccination rates, and a fourfold increase in the size of a flu-like epidemic.“It’s possible to be too clever for your own good in dealing with risk,” Fu said. “These ‘strong imitators’ chase unwise risks, and their behavior exacerbates the fragility of herd immunity, causing it to break down more easily. Those in our model who ignored friends’ outcomes and stuck with their own decision ended up better off, on average.”Fu, Rosenbloom, and Nowak’s modeling also showed that in an epidemic, individuals who are hubs in a social network are likelier to choose vaccination than their less connected peers. However, this outcome emerges primarily from self-interested behavior – the desire to avoid sickness – rather than altruistic behavior to protect friends and family.“Altruistic behavior could certainly lead to increased vaccination of hubs, but we find that it’s not required. Self-interested behavior suffices,” Rosenbloom said.This work builds on the tradition of evolutionary game theory, where researchers construct simple mathematical models to explore human behavior in social dilemmas and scenarios where people can cooperate for the common good. While this study specifically modeled influenza, the results apply to a wide variety of diseases, and are consistent with data from past epidemics.Fu, Rosenbloom, and Nowak were joined in this research by co-author Long Wang at Peking University. The work was funded by the John Templeton Foundation, the National Science Foundation, the National Institutes of Health, the Bill and Melinda Gates Foundation, J. Epstein, and the China Scholarship Council.last_img read more

Moving Beyond Proof of Concept: Optimizing AI Infrastructure for Large Scale Production Deployments

first_imgA few weeks ago I was interviewed by Roger Magoulas, VP of O’Reilly Media, at the O’Reilly Artificial Intelligence Conference in San Jose. Our conversation focused on moving beyond the Artificial Intelligence buzz – how organizations can actually design and deploy the optimal IT infrastructure for different AI use cases as they try to move their proof of concept AI work into real production environments. With initiatives of this nature, it’s important to consider how AI drives the demand for higher processing power and throughput. I’ve embedded the video of our interview below.<span style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” data-mce-type=”bookmark” class=”mce_SELRES_start”></span><span style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” data-mce-type=”bookmark” class=”mce_SELRES_start”></span>As I discussed in the video, there are two main categories of AI use cases: Machine Learning (ML) and Deep Learning (DL). The use case processing characteristics are quite different, each requiring specific compute and storage envelopes of performance and scale, as highlighted in Figure 1 below.Figure 1: Compute and Storage requirements of ML and DL use casesML pipelines are typically comprised of semi-structured data fed by machines (servers, mobile phones, IoT sensors, etc.) with datasets ranging in size from tens to hundreds of terabytes to maybe even a petabyte or two. ML workloads can be adequately serviced by hundreds of servers up to a few thousand servers. However, it’s a wholly different scenario with DL. These datasets are predominantly unstructured data such as images, video and audio content typically expanding to multiple petabytes, requiring many thousands of compute clusters for processing and may justify GPU investment to cut down on the data center cost and footprint.The location of an organization’s data must also be considered carefully while designing production deployment architecture for AI platforms. In general, it’s my recommendation that you build your AI platforms in the same location as your data. If the majority of your data is generated in the cloud, then it may make sense to run your AI workflows there too as you’d likely face substantial data egress charges to move data on-prem. On the other hand, if your data resides on-prem, then you may deploy AI platforms on-prem. This minimizes the cost of managing the data and the latency in accessing it as well as the need to run data migration projects as a precursor to data analytics.What are other key considerations as you move from PoC to production for your ML and DL workloads? In my work with customers across many industries, I see these common themes:Data Consolidation – it is cumbersome to do analytics with data scattered across an organization. It is a better practice to consolidate the data ideally in one location but more practically in just a few.Decouple compute from storage – an organization’s data may not change significantly over time. However, the applications and tools used to analyze it can change. Therefore, it makes sense to separate compute and storage. Doing so allows you to point evolving server-based applications and tools to where the data is located without moving data around as your compute needs change.Storage Scaling – as data matures, its value may change. This is especially true for historical data. Capacity scaling should design for this dynamic in order to remain cost-effective.Data Governance – as AI becomes more prevalent, the need for protecting and securing the data also gains importance. Data quality, security, protection, lineage and metadata tracking, as well as considerations taken for granted in the Business Intelligence world, are key in the AI world as well.Today, data consolidation paradigms have shifted to the concept of a Data Lake. We define Data Lake as an architectural paradigm that enables us to consolidate enterprise data, enabling storage to scale independently from compute with the ability to support Analytics and AI applications with varying IO signatures, performance requirements and data governance capabilities delivered out of the box. With our industry-leading Dell EMC Isilon scale-out NAS platforms, we’ve been driving this idea for some time now as a way to store and manage exploding volumes of unstructured data. However, to us Data Lake is not just a marketing buzzword. We put real architectural structure and requirements behind it. One key requirement in building a Data Lake is the ability to support multiple access protocols and applications with differing characteristics, real-time or batch mode, and with varying latency needs. Another is the ability to easily and efficiently access data with differing temperatures, whether it is “hot” or “cold.” To transparently archive data for AI platforms, we also offer Dell EMC ECS – our flagship distributed object store.Dell Technologies has helped many customers around the world to unlock the value of their Data Capital for Digital Transformation. With our broad AI platform portfolio, I’m certain we can assist your organization in its journey to AI.Want to learn more about key infrastructure decisions to contemplate as you move forward in your AI journey? View the Moor Insights & Strategy report: Enterprise Machine & Deep Learning with Intelligent Storage.last_img read more

Two Hands, Two Beers

first_imgFirst, the bad news: Deschutes is scaling down its plans for their Roanoke brewery. The Bend, Oregon-based brewery is still going to purchase the land, and will likely still build an expansion brewery there, but isn’t sure about the scope of the project given the recent market conditions. Green Flash, which was in the process of building an expansion brewery in Virginia, is in foreclosure.That’s a bummer all around. I was looking forward to both the Deschutes and Green Flash East Coast breweries. But here’s the good news: Deschutes still operates a tasting room in Roanoke, and they’re still making great beers that most of us can get our hands on. They’ve even started canning some of their beers (thank God!).So let’s look at a couple of new beers from Deschutes, because I’m a “silver lining” kind of guy.I don’t know that I’ve ever eaten a passionfruit. I’ve probably had some passionfruit juice, like at a tropical hotel breakfast buffet, but I’ve never seen one in person. After doing a Google image search, I’d probably run the other direction if I saw one in person. They’re not pretty. This new Passion Fruit IPA from Deschutes, on the other hand, is downright gorgeous. It’s part of Deschutes’ new “Just Tapped” series, which puts experimental pub brews into larger circulation. As the name implies, this IPA is a fruit bomb. You get loads of passionfruit on the front end of the sip, but instead of coming off too sweet or letting the bitterness of the hops provide balance, there’s a slightly tart finish that sweeps the fruitiness away. Put it all together and you’ve got a crisp, refreshing IPA that works wonders on a hot summer day.Speaking of hot summer days, Deschutes is releasing another new beer for the season, Twilight Summer Ale. Okay, Twilight isn’t new. They’ve been making it for more than a decade, but it’s only available during the summer, so you’ve got to jump on it while you can. And you should jump on it, because it’s easily one of my favorite summer beers. It’s a golden ale with a robust dosing of Amarillo hops. It has some elements of a pilsner (crisp and bright) and some characteristics of a pale (hop bit, malt backbone). It’s damn good.Ideally, you’ll grab a six-pack of each of these new beers. You could even drink them simultaneously if you were ambitious. God gave you two hands for a reason, right?last_img read more

The 5 most effective marketing strategies for financial services

first_imgDeveloping marketing strategies for financial services means considering a range of elements which include:Your organization’s goals & objectivesTarget marketsNew & emerging marketsYour organization’s strengths & weaknessesResources availableHowever, no matter what your goals or the financial services you provide, effective marketing strategies can help you to focus efforts so that you can better reach targets and goals.These 5 financial services marketing strategies are a good place to start for many: ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more

Binghamton seeks public comment on pedestrian improvement projects

first_imgThe sites are focused on 10 locations that are nearby schools, churches, hospitals and community centers. Including Theodore Roosevelt Elementary, Woodrow Wilson Elementary, West and East Middle School, UHS Binghamton Hospital and more. To have your voice heard, click here. The project is scheduled to begin later in 2020 and is expected to be completed in Spring 2021. Construction for the projects include improvement to sidewalks, curb ramps, crosswalks and signage.center_img The mayor’s office says projects at 22 sites across the city will cost around $518,000 according to estimates. BINGHAMTON (WBNG) — Binghamton Mayor Rich David says the city of Binghamton is looking for public comment on pedestrian safety improvements.last_img read more

Wirecard’s missing money didn’t enter Philippine financial system, central bank says

first_imgThe search for the missing cash hit a dead end in the Philippines, but the two Philippine banks have said documents purporting to show Wirecard had deposited funds with them were false.“The initial report is that no money entered the Philippines and that there is no loss to both banks,” Diokno said, though he added that the central bank was investigating.“The international financial scandal used the names of two of the country’s biggest banks — BDO and BPI — in an attempt to cover the perpetrators’ track,” he said.BDO and BPI have stated that Wirecard was not their client and that they had no business relationship with the German firm, Diokno said.BPI, however, told Reuters on Saturday that it had suspended an assistant manager whose signature appeared on one of the fraudulent documents.BDO told the central bank that it appeared one of its marketing officers had fabricated a bank certificate.Diokno reiterated the Philippine banking system was in a strong position going into the coronavirus pandemic and well-capitalised.Topics : None of the US$2.1 billion missing from scandal-hit German payments firm Wirecard AG appears to have entered the Philippine financial system, the central bank said on Sunday.Bangko Sentral ng Pilipinas Governor Benjamin Diokno said in a statement the Southeast Asian country’s biggest lenders, BDO Unibank and Bank of the Philippine Islands, suffered no losses, despite having been named in connection with the missing funds.The chief executive of Wirecard, Markus Braun, who built the company into one of the hottest financial technology investments in Europe and a rare tech champion for Germany, quit on Friday as the company faces a cash crunch after saying it may have been the victim of fraud.last_img read more

Arsenal provide fitness updates on new signings David Luiz and Kieran Tierney ahead on Newcastle clash

first_imgArsenal provide fitness updates on new signings David Luiz and Kieran Tierney ahead on Newcastle clash Comment Metro Sport ReporterFriday 9 Aug 2019 12:24 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link1.6kShares Former Celtic star Kieran Tierney is struggling with a groin problem (Picture: Getty)Emery said: ‘We’re delighted Kieran is joining us.‘He’s a very talented player who will continue to improve. He increases our options defensively and I look forward to him joining our group.’As well as signing two players on deadline day, Arsenal also sanctioned the departure of Alex Iwobi to Everton.Toffees boss Marco Silva said: ‘Alex was one of our main targets for this window and I believe he is a fantastic signing.More: FootballBruno Fernandes responds to Man Utd bust-up rumours with Ole Gunnar SolskjaerNew Manchester United signing Facundo Pellistri responds to Edinson Cavani praiseArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira moves‘He is a direct and skilful winger and attacking midfielder who always works very hard.‘He is still young but already with a lot of top-level experience – 100 Premier League matches, more in Europe and many international games.‘Alex fits exactly the profile of player I want.‘He is hungry to join Everton and take the next step in his career, to help us compete with the strongest teams in the league and reach his potential at our club.’MORE: Charlie Nicholas predicts where Arsenal will finish after Luiz, Tierney and Pepe signings Advertisement Advertisement New Arsenal signing David Luiz is in contention to face Newcastle United (Picture: Getty)Arsenal have provided fitness updates on new signings David Luiz and Kieran Tierney ahead of the start of the new Premier League season.The Gunners, who finished fifth last term, completed deadline day moves for Chelsea defender Luiz and Celtic star Tierney.Arsenal have confirmed Brazil international Luiz is expected to participate in full training and be available for Sunday’s trip to St James’ Park to face Newcastle United.Tierney, meanwhile, is struggling with a groin injury, with Arsenal hoping the full back will be able to train with his new team-mates in around 4-6 weeks’ time.ADVERTISEMENTMore: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityAfter making the switch from Chelsea to Arsenal, Luiz said: ‘It’s a great feeling. It’s a new cycle in my life, in my career as a footballer.AdvertisementAdvertisement‘I’m excited to play for this big club. I grew up watching a lot of Arsenal games, especially the great players from the past, so I’m excited to try to help this club to do some big things.‘It’s a big club – not just in England, but everybody around the world knows how big Arsenal is. When I had an opportunity to come to this kind of big club, I had to take it. That’s why I’m here.’Tierney, who will wear Arsenal’s number three shirt, has impressed for Celtic over the past few seasons and Gunners boss Unai Emery is ‘delighted’ to secure his services.last_img read more

AQR launches research institute with London Business School

first_imgIn his welcoming remarks, the dean of LBS, Sir Andrew Likierman, added: “We have done nothing with the scope, depth or magnitude of this relationship, or anything as long-lasting. “AQR is distinguished for its emphasis on ideas and research that is not necessarily characteristic of its industry. There is an underlying alignment of philosophy with the London Business School.”AQR, with $122bn (€104bn) in assets under management, makes much of its strong links with academia, and boasts more than 40 PhDs on its staff, including co-founders Cliff Asness and John Liew.It endowed the AQR Capital Management Distinguished Service Professor of Finance at the University of Chicago Booth School of Business, supports the Innovation Factory at Johns Hopkins University and makes the annual $100,000 AQR Insight Award for outstanding innovation in applied academic research.The AQR Institute has its origins early last year in discussions between Scott Richardson, a professor of accounting at LBS since he left BlackRock in 2010, who currently works as a managing director at AQR in credit and equity research, and the firm’s founders.Formal discussions with LBS, which is consistently ranked in the global Top 10 for teaching and research and celebrates its 50th anniversary this year, got underway in March 2014.AQR founding principal David Kabiller said: “The AQR Institute will bring together scholars and industry-leading practitioners to produce original research and identify best practices from a global perspective.“We are proud to partner with London Business School, which is renowned for its academic rigour, top faculty and diverse student body.”In his welcoming remarks at the launch event, he added: “We opened our London office three years ago, and we wanted to make a statement about our commitment to London, the UK and the broader EMEA region.” Investment management firm AQR and the London Business School (LBS) have launched the AQR Institute of Asset Management, a 10-year collaboration to fund and generate research across a range of disciplines.The Institute will make annual grants and awards to postgraduate researchers and sponsor conferences and events at the LBS campuses in London and Dubai that will aim to bring together academics, policymakers and practitioners.  Led by professors of finance Francisco Gomes, Ralph Koijen and Narayan Naik, and professor of economics Hélène Rey, the Institute’s research agenda is expected to range from the challenges faced by CIOs in portfolio construction to regulation, economic policy and accounting issues.Tony Joyce, associate dean of marketing and communications at LBS, speaking to IPE at the launch event held in the London campus on Wednesday, said: “This goes straight in at the top of the league table of our relationships with commercial entities.”last_img read more

CIO to leave Church pensions board

first_imgPierre Jameson, chief investment officer of the Church of England Pensions Board (CEPB), is to leave the post in early February 2020.Jameson has been CIO of the CEPB – which runs assets on behalf of four church pension schemes – since 2008, when he joined from CCLA Investment Management, where he was an investment analyst in the equity team.The fund has returned 17.1% over the first nine months of this year, which follows the -2.6% in 2018, ascribed to disappointing performance across all markets. Over the past 10 years it has returned an average 9.5% per year.During Jameson’s tenure, the CEPB’s portfolio has grown from around £700m – when almost all was invested in public equities – to £2.75bn.  Pierre Jameson, outgoing CIO of the Church of England Pensions BoardAt end of September 2019, alternatives made up 36.1% of the fund’s £2.3bn return-seeking portfolio – including 12% of assets in infrastructure.Infrastructure has returned 10.3% for the nine months to end-September 2019, and 11.8% over the past five years to the same date.CEPB was also one of the first UK institutional investors in private debt, which made up 5.5% of the return-seeking portfolio at end-September 2019 and has returned 5.6% for the nine months to that date.The CEPB invests according to principles set out by the Church’s Ethical Investment Advisory Group, and, led by Adam Matthews, head of ethics and engagement, also actively engages with companies on ethical and responsible investment issues.Its most recent high-profile activity was toco-file a resolution at the London AGM of mining company BHP, calling for suspension of BHP’s membership of trade associations not lobbying in line with the Paris Climate Agreement.“Ethical investment has really taken off in the past 10 years, and thanks to our public stance, the Board’s profile has moved up a long way,” Jameson told IPE.Jameson said that with the CEPB’s investments well-positioned, and in “good hands” for the future, it was time to move on. He told IPE he was considering a number of options, mainly in a non-executive capacity.Interim and succession arrangements will be announced in the New Year. A notable development has been a drive towards alternatives, particularly private infrastructure equity, which the fund first invested in eight years ago.last_img read more