{"state_type":"pith_open_graph_state","state_version":"1.0","pith_number":"pith:2015:6GYAZUG4HG3W2SG5MHMU7XA6ES","merge_version":"pith-open-graph-merge-v1","event_count":2,"valid_event_count":2,"invalid_event_count":0,"equivocation_count":0,"current":{"canonical_record":{"metadata":{"abstract_canon_sha256":"6c988dccd30e84fc69a4f16d2d311bc90d611aad6bec76557a5f7d80406ebeca","cross_cats_sorted":["math.OC","math.PR"],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.MF","submitted_at":"2015-05-30T21:12:14Z","title_canon_sha256":"cfe3adc98e1aa581f356e38da2d6dd61d02d96c3728f09c52053f9a78cb890b0"},"schema_version":"1.0","source":{"id":"1506.00166","kind":"arxiv","version":2}},"source_aliases":[{"alias_kind":"arxiv","alias_value":"1506.00166","created_at":"2026-05-18T01:20:50Z"},{"alias_kind":"arxiv_version","alias_value":"1506.00166v2","created_at":"2026-05-18T01:20:50Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.1506.00166","created_at":"2026-05-18T01:20:50Z"},{"alias_kind":"pith_short_12","alias_value":"6GYAZUG4HG3W","created_at":"2026-05-18T12:29:07Z"},{"alias_kind":"pith_short_16","alias_value":"6GYAZUG4HG3W2SG5","created_at":"2026-05-18T12:29:07Z"},{"alias_kind":"pith_short_8","alias_value":"6GYAZUG4","created_at":"2026-05-18T12:29:07Z"}],"graph_snapshots":[{"event_id":"sha256:46320e83be78666a6c33479bb5462d68f499fc141556ab5e334a809053339bcb","target":"graph","created_at":"2026-05-18T01:20:50Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"graph_snapshot":{"author_claims":{"count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","strong_count":0},"builder_version":"pith-number-builder-2026-05-17-v1","claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"paper":{"abstract_excerpt":"We determine the optimal investment strategy in a Black-Scholes financial market to minimize the so-called {\\it probability of drawdown}, namely, the probability that the value of an investment portfolio reaches some fixed proportion of its maximum value to date. We assume that the portfolio is subject to a payout that is a deterministic function of its value, as might be the case for an endowment fund paying at a specified rate, for example, at a constant rate or at a rate that is proportional to the fund's value.","authors_text":"Bahman Angoshtari, Erhan Bayraktar, Virginia R. Young","cross_cats":["math.OC","math.PR"],"headline":"","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.MF","submitted_at":"2015-05-30T21:12:14Z","title":"Optimal Investment to Minimize the Probability of Drawdown"},"references":{"count":0,"internal_anchors":0,"resolved_work":0,"sample":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"1506.00166","kind":"arxiv","version":2},"verdict":{"created_at":null,"id":null,"model_set":{},"one_line_summary":"","pipeline_version":null,"pith_extraction_headline":"","strongest_claim":"","weakest_assumption":""}},"verdict_id":null}}],"author_attestations":[],"timestamp_anchors":[],"storage_attestations":[],"citation_signatures":[],"replication_records":[],"corrections":[],"mirror_hints":[],"record_created":{"event_id":"sha256:ca4f2dc8cb29ef52f141d8ab3a134c4e0983b474075c55811e376d5076e53cfa","target":"record","created_at":"2026-05-18T01:20:50Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"attestation_state":"computed","canonical_record":{"metadata":{"abstract_canon_sha256":"6c988dccd30e84fc69a4f16d2d311bc90d611aad6bec76557a5f7d80406ebeca","cross_cats_sorted":["math.OC","math.PR"],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.MF","submitted_at":"2015-05-30T21:12:14Z","title_canon_sha256":"cfe3adc98e1aa581f356e38da2d6dd61d02d96c3728f09c52053f9a78cb890b0"},"schema_version":"1.0","source":{"id":"1506.00166","kind":"arxiv","version":2}},"canonical_sha256":"f1b00cd0dc39b76d48dd61d94fdc1e249ffd9faf583222afc8f8444516786c2a","receipt":{"algorithm":"ed25519","builder_version":"pith-number-builder-2026-05-17-v1","canonical_sha256":"f1b00cd0dc39b76d48dd61d94fdc1e249ffd9faf583222afc8f8444516786c2a","first_computed_at":"2026-05-18T01:20:50.483794Z","key_id":"pith-v1-2026-05","kind":"pith_receipt","last_reissued_at":"2026-05-18T01:20:50.483794Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","receipt_version":"0.3","signature_b64":"qHDz7UT2LlYKvq5v07s08yLxLIdiQ3VqPegXkVQfn6KhrEBjTkNPktnVL8erXr5EWgZTqpxSaRNdUL6PZxHvAQ==","signature_status":"signed_v1","signed_at":"2026-05-18T01:20:50.484233Z","signed_message":"canonical_sha256_bytes"},"source_id":"1506.00166","source_kind":"arxiv","source_version":2}}},"equivocations":[],"invalid_events":[],"applied_event_ids":["sha256:ca4f2dc8cb29ef52f141d8ab3a134c4e0983b474075c55811e376d5076e53cfa","sha256:46320e83be78666a6c33479bb5462d68f499fc141556ab5e334a809053339bcb"],"state_sha256":"28401ffcd97c5fe85997c80e6750818885ed0676c212eddc0f52236e80c5775d"}