The biology and ecology of the ocean sunfish Mola mola: a review of current knowledge and future research perspectives

Relatively little is known about the biology and ecology of the world's largest (heaviest) bony fish, the ocean sunfish Mola mola, despite its worldwide occurrence in temperate and tropical seas. Studies are now emerging that require many common perceptions about sunfish behaviour and ecology to be re-examined. Indeed, the long-held view that ocean sunfish are an inactive, passively drifting species seems to be entirely misplaced. Technological advances in marine telemetry are revealing distinct behavioural patterns and protracted seasonal movements. Extensive forays by ocean sunfish into the deep ocean have been documented and broad-scale surveys, together with molecular and laboratory based techniques, are addressing the connectivity and trophic role of these animals. These emerging molecular and movement studies suggest that local distinct populations may be prone to depletion through bycatch in commercial fisheries. Rising interest in ocean sunfish, highlighted by the increase in recent publications, warrants a thorough review of the biology and ecology of this species. Here we review the taxonomy, morphology, geography, diet, locomotion, vision, movements, foraging ecology, reproduction and species interactions of M. mola. We present a summary of current conservation issues and suggest methods for addressing fundamental gaps in our knowledge.

Satellite tracking of the World's largest bony fish, the ocean sunfish (Mola mola L.) in the North East Atlantic

Satellite-linked archival transmitters were used to record the movements of three ocean sunfish (Mola mola) in the North East Atlantic. Patterns of depth use and temperature experienced by individual fish were integrated into 4-hour intervals throughout the tracking period and relayed via the Argos system. Data were recorded for 42, 90 and 54 days respectively from the three fish. The first two were tagged off southern Portugal at the end of February 2007 and travelled principally northward, while the third fish was tagged off west Ireland in August 2007 and travelled southward. These patterns are consistent with seasonal migration of ocean sunfish to high latitudes and their Subsequent return south. Maximum depths recorded by the three fish were 432 m, 472 m and 320 m respectively. All three individuals showed a diel pattern in depth use, occurring deeper during the day and shallower at night, a pattern consistent with sunfish tracking normally vertically migrating prey. Sunfish sometimes remained continuously at deeper (>200 m) depths during the day, but at other times they showed extensive movement through the water column typically travelling between their maximum depth and the surface within each 4-h period. The overall pattern to emerge was that ocean sunfish travel extensively in both horizontal and vertical dimensions, presumably in search of their patchily-distributed jellyfish prey.

The ocean sunfish Mola mola: insights into distribution, abundance and behaviour in the Irish and Celtic Seas

Here we provide baseline data on the distribution and abundance of Mola mola within the Irish and Celtic Seas, made during aerial surveys from June to October during 2003-2005. These data were considered in conjunction with concurrent observations of three potential jellyfish prey species found throughout the region: Rhizostoma octopus, Chrysaora hysoscella and Cyanea capillata. A total area of 7850 km(2) was surveyed over the three years with an observed abundance of 68 sunfish giving a density of 0.98 ind/100 km(2). Although modest, these findings highlight that the species is more common than once thought around Britain and Ireland and an order of magnitude greater than the other apex jellyfish predator found in the region, the leatherback turtle (Dermochelys coriacea). furthermore, the distribution of sunfish sightings was inconsistent with the extensive aggregations of Rhizostoma octopus found throughout the study area. The modelled distributions of predator-prey co-occurrence (using data for all three jellyfish species) was less than the observed co-occurrence with the implication that neither jellyfish nor sunfish were randomly distributed but co-occurred more in the same areas than expected by chance. Finally, observed sunfish were typically small (similar to 1 in or less) and seen to either bask or actively swim at the surface.

Stable isotopes challenge the perception of ocean sunfish Mola mola as obligate jellyfish predators

Evidence is provided from stable isotope analysis that aggregations of small ocean sunfish Mola mola (total length <1 m) feed broadly within coastal food webs and their classification as obligate predators of gelatinous zooplankton requires revision.

US Dollar Carry Trades in the Era of 'Cheap Money'

In this paper, we employ a unique dataset of actual US dollar (USD) forward positions against a number of currencies taken by so-called Commodity Trading Advisors (CTAs). We investigate to what extent these positions exhibit a pattern of USD carry trading or other patterns of currency trading over the recent period of the ultra-loose US monetary policy. Our analysis indeed shows that USD positions against emerging market currencies are characterised by a pattern of carry trading. That is, the USD, as the lower yielding currency, is associated with short positions. The payoff distributions of these positions, moreover, are found to have positive Sharpe ratios, negative skewness and high kurtosis. On the other hand, we find that USD positions against other advanced country currencies have a pattern completely opposite to carry trading which is in line with uncovered interest parity trading; that is, the lower (higher) yielding currency is associated with long (short) positions.

An information approach to international currencies

Models of currency competition focus on the 5% of trading attributable to balance-of-payments flows. We introduce an information approach that focuses on the other 95%. Important departures from traditional models arise when transactions convey information. First, prices reveal different information depending on whether trades are direct or though vehicle currencies. Second, missing markets arise due to insufficiently symmetric information, rather than insufficient transactions scale. Third, the indeterminacy of equilibrium that arises in traditional models is resolved: currency trade patterns no longer concentrate arbitrarily on market size. Empirically, we provide a first analysis of transactions across a full market triangle: the euro, yen and US dollar. The estimated transaction effects on prices support the information approach.

On the Sources of Private Information in FX Markets

We investigate the source of information advantage in inter-dealer FX trading using data on trades and counterparty identities. In liquid dollar exchange rates, information is concentrated among dealers that trade most frequently and specialize their activity in a particular rate. In cross-rates, traders that engage in triangular arbitrage are best informed. Better-informed traders are also located on larger trading floors. In cross-rates, the ability to forecast flows explains all of the advantage of the triangular arbitrageurs. In liquid dollar rates, specialist traders can forecast both order flow and the component of exchange rate changes that is uncorrelated with flow.

Environmental context explains Levy and Brownian movement patterns of marine predators

An optimal search theory, the so-called Levy-flight foraging hypothesis(1), predicts that predators should adopt search strategies known as Levy flights where prey is sparse and distributed unpredictably, but that Brownian movement is sufficiently efficient for locating abundant prey(2-4). Empirical studies have generated controversy because the accuracy of statistical methods that have been used to identify Levy behaviour has recently been questioned(5,6). Consequently, whether foragers exhibit Levy flights in the wild remains unclear. Crucially, moreover, it has not been tested whether observed movement patterns across natural landscapes having different expected resource distributions conform to the theory's central predictions. Here we use maximum-likelihood methods to test for Levy patterns in relation to environmental gradients in the largest animal movement data set assembled for this purpose. Strong support was found for Levy search patterns across 14 species of open-ocean predatory fish (sharks, tuna, billfish and ocean sunfish), with some individuals switching between Levy and Brownian movement as they traversed different habitat types. We tested the spatial occurrence of these two principal patterns and found Levy behaviour to be associated with less productive waters (sparser prey) and Brownian movements to be associated with productive shelf or convergence-front habitats (abundant prey). These results are consistent with the Levy-flight foraging hypothesis(1,7), supporting the contention(8,9) that organism search strategies naturally evolved in such a way that they exploit optimal Levy patterns.

Order Flow and the Monetary Model of Exchange Rates: Evidence from a Novel Data Set

We propose an exchange rate model that is a hybrid of the conventional specification with monetary fundamentals and the Evans–Lyons microstructure approach. We estimate a model augmented with order flow variables, using a unique data set: almost 100 monthly observations on interdealer order flow on dollar/euro and dollar/yen. The augmented macroeconomic, or “hybrid,” model exhibits greater in-sample stability and out of sample forecasting improvement vis-à-vis the basic macroeconomic and random walk specifications.

Impact of Stressors on Child Welfare Supervisors

The death of children, intense media scrutiny, and million
dollar lawsuits are all potential stressors faced by child welfare professionals.
Despite this, very little research or literature has explored the specific
realities of stressors for the individual front-line child welfare supervisor.
Therefore, as a contribution to the field of child welfare practice, this paper
expands our understanding of this unique supervisory population
through a detailed examination of the literature. This review links theory
to practice through a series of case examples involving situations of child
welfare supervisors who have been affected by workplace stressors. The
paper provides both individual and organizational solutions to either prevent
or intervene in situations involving child welfare supervisors who may
be at risk of burnout and/or compassion fatigue.

Solvent induced phase inversion-based in situ forming controlled release drug delivery implants

In situ forming (ISF) drug delivery implants have gained tremendous levels of interest over the last few decades. This is due to their wide range of biomedical applications such as in tissue engineering, cell encapsulation, microfluidics, bioengineering and drug delivery. Drug delivery implants forming upon injection has shown a range of advantages which include localized drug delivery, easy and less invasive application, sustained drug action, ability to tailor drug delivery, reduction in side effects associated with systemic delivery and also improved patient compliance and comfort. Different factors such as temperature, pH, ions, and exchange of solvents are involved in in situ implant formation. This review especially focuses on ISF implants that are formed through solvent induced phase inversion (SPI) technique. The article critically reviews and compares a wide range of polymers, solvents, and co-solvents that have been used in SPI implant preparation for control release of a range of drug molecules. Major drawback of SPI systems has been their high burst release. In this regard, the article exhaustively discusses factors that affect the burst release and different modification strategies that has been utilised to reduce the burst effect from these implants. Performance and controversial issues associated with the use of different biocompatible solvents in SPI systems is also discussed. Biodegradation, formulation stability, methods of characterisation and sterilisation techniques of SPI systems is comprehensively reviewed. Furthermore, the review also examines current SPI-based marketed products, their therapeutic application and associated clinical data. It also exemplifies the interest of multi-billion dollar pharma companies worldwide for further developments of SPI systems to a range of therapeutic applications. The authors believe that this will be the first review article that extensively investigate and discusses studies done to date on SPI systems. In so doing, this article will undoubtedly serve as an enlightening tool for the scientists working in the concerned area.

Is China's fifth-largest inland lake to dry-up? Incorporated hydrological and satellite-based methods for forecasting Hulun Lake water levels

Hulun Lake, China's fifth-largest inland lake, experienced severe declines in water level in the period of 2000-2010. This has prompted concerns whether the lake is drying up gradually. A multi-million US dollar engineering project to construct a water channel to transfer part of the river flow from a nearby river to maintain the water level was completed in August 2010. This study aimed to advance the understanding of the key processes controlling the lake water level variation over the last five decades, as well as investigate the impact of the river transfer engineering project on the water level. A water balance model was developed to investigate the lake water level variations over the last five decades, using hydrological and climatic data as well as satellite-based measurements and results from land surface modelling. The investigation reveals that the severe reduction of river discharge (-364±64 mm/yr, ∼70% of the five-decade average) into the lake was the key factor behind the decline of the lake water level between 2000 and 2010. The decline of river discharge was due to the reduction of total runoff from the lake watershed. This was a result of the reduction of soil moisture due to the decrease of precipitation (-49±45 mm/yr) over this period. The water budget calculation suggests that the groundwater component from the surrounding lake area as well as surface run off from the un-gauged area surrounding the lake contributed ∼ net 210 Mm3/yr (equivalent to ∼ 100 mm/yr) water inflows into the lake. The results also show that the water diversion project did prevent a further water level decline of over 0.5 m by the end of 2012. Overall, the monthly water balance model gave an excellent prediction of the lake water level fluctuation over the last five decades and can be a useful tool to manage lake water resources in the future.