Well, as the title says, I'm trying to solve the following limit:
$$\lim_{n\to\infty}\left[\frac{1}{\pi}\arctan\left(\frac{nx}{\pi}\right)+\frac{1}{2}\right]^n.$$
This arised in the following context: let $(X_i)$ be a sequence of independent Cauchy random variables. Let $M_n=\max_{1\leq i\leq n}X_i$. I want to calculate the distribution to which $\pi M_n/n$ tends to. My approach went as follows:
$$F_{\pi M_n/n}(x) = \mathbb{P}(\pi M_n/n\leq x)=\mathbb{P}(M_n\leq nx/\pi)=(\mathbb{P}(X_1\leq nx/\pi))^n.$$ Which is equals to $$\left[\frac{1}{\pi}\arctan\left(\frac{nx}{\pi}\right)+\frac{1}{2}\right]^n.$$