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In this paper, we make use of the replicating asset for statistical arbitrage trading, where the replicating asset is constructed by a portfolio that mimics the returns from a factor model. Using the replicating asset in the context of statistical arbitrage has never been done before in the literature. A novel optimal statistical arbitrage trading model is applied, and we derive the average transaction length and return for the Berkshire A stock and its replicating asset. The results show that the statistical arbitrage method proposed by Bertram (2010) is profitable by using the replicating asset. We also compute the average returns under different transaction costs. For the statistical arbitrage using the replicating asset of the factor model, average annual returns were at least 33%. Robustness is examined with the S&P500. Our results can provide hedge fund managers with a new technique for conducting statistical arbitrage.

Introduction: In Taiwan, severe enteroviral infections must be reported to the government within 24 hours to ensure that severe enterovirus 71 (EV71) infections can be detected early. The objective of this research was to ascertain whether over-reporting is a problem in mandatory disease-reporting systems. Methodology: A multiyear cross-sectional study methodology was applied based on secondary data analyses. Data from the national notifiable communicable disease surveillance system of Taiwan Centers for Disease Control were analyzed to assess the trends and factors influencing reporting accuracy. Results: From July 1999 to December 2008, 2,611 cases of severe enteroviral infection were reported in Taiwan. Among these cases, 1,516 were confirmed to be EV71 cases, and the remaining 1,095 were confirmed to be non-EV71 infections. The overall accuracy rate was 58%. The accuracy rate was 60%–70% higher during epidemics (2000–2002, 2005, and 2008) and high seasons than it was in other seasons. The accuracy rate was highest among medical centers and lowest among district hospitals. Conclusions: The results indicated that reports are more accurate during high seasons and peak years than during other periods. This might be attributable to the adequate level of specific educational programs for professionals when more cases occur, which could facilitate identification. Based on experiences in Taiwan, optimal training can ensure that surveillance systems are not inundated by false-positive reports.

Rumen microbial fuel cells (RMFCs) are a promising technology for sustainable production of alternative energy and fiber waste treatment. However, the influence of catholytes with different oxidizing powers on anode metabolites and electrical properties of straw-fed MFCs will be mainly evaluated in this study. Furthermore, the exploration of nonlinear features in RMFCs would be another subject of debate. Results show that voltage generation correlates positively to anode total volatile fatty acids, acetic acid, and butyric acid concentrations, along with the ratio of acetic acid to propionic acid, which would favor the production of reducing equivalents. In addition, the finding of an attractor indicates that RMFCs possessing a chaotic characteristic is a nonlinear system and could be used to strengthen the metabolism of microorganisms. These observations will provide information for improvement in RMFC fed native plant fiber substrate.

Microbial fuel cells (MFCs) represent a completely new method of renewable energy recovery. The purpose of this work is to study the effect of biometric flow channels on the power performance in the single rumen microbial fuel cells (RMFCs) at different Reynolds numbers. Experiments in a circulation system were executed by using a double two-inlet Y-type inlet channel and connecting it with the RMFCs. Some results that were found from the numerical simulation and experiment are addressed as follows: First, the biometric flow channel would create a more uniform flow field with obstacles than one without, regardless of the Reynolds number. Second, an extra voltage output of 0.2 V, based on the example without obstacles, was provided as in the case of one with. This further explains the design of biometric flow channels having a greater, more positive effect on power performance. Finally, these observations can provide more information on realizing the mechanism of MFCs dynamic reactions and further enhance power performance.