Momentum profits and macroeconomic factors

This article tests whether macroeconomic variables and market sentiment influence the size of momentum profits. It finds that although returns to the winner and loser portfolios are influenced by a range of macroeconomic and market wide variables; momentum profits are influenced only by the scale of portfolio outflows. Thus, when investors are sending their capital elsewhere, reduced funds at home, dampen the profitability of the momentum trading strategy. It also finds that when the market closes, below its opening level in the previous six months, momentum profits are higher, which might be a reflection of mean reversion in the market. © 2004 Taylor and Francis Ltd.

Size frequency distributions of abnormal protein deposits in Alzheimer’s disease and variant Creutzfeldt-Jakob disease

TThe size frequency distributions of ß-amyloid (Aß) and prion protein (PrPsc) deposits were studied in Alzheimer’s disease (AD) and the variant form of Creutzfeldt-Jakob disease (vCJD) respectively. All size distributions were unimodal and positively skewed. Aß deposits reached a greater maximum size and their distributions were significantly less skewed than the PrPsc deposits. All distributions were approximately log-normal in shape but only the diffuse PrPsc deposits did not deviate significantly from a log-normal model. There were fewer larger classic Aß deposits than predicted and the florid PrPsc deposits occupied a more restricted size range than predicted by a log-normal model. Hence, Aß deposits exhibit greater growth than the corresponding PrPsc deposits. Surface diffusion may be particularly important in determining the growth of the diffuse PrPsc deposits. In addition, there are factors limiting the maximum size of the Aß and florid PrPsc deposits.

Radial growth of Rhizocarpon section Rhizocarpon lichen thalli over six years at snoqualmie pass in the Cascade Range, Washington State

This article describes a 6-yr study of the radial growth rates (RGR, mm yr-1) of Rhizocarpon section Rhizocarpon thalli on a talus slope at Snoqualmie Pass in the Cascade Range, Washington State, United States (47°27'N; 121°26'W). At the end of the growth period, 32 of a total of 39 thalli had exhibited a positive RGR, and 7 of a total of 39 thalli showed no measurable growth. Mean RGR of all thalli was 0.07 mm yr-1 (range, 0-0.19 mm, SD = 0.06). Analysis of variance suggested no significant variation in RGR in successive growth periods, but significant differences were present both within and between thalli. The slope of a boulder facet did not influence RGR, but growth was affected by aspect, the least growth being observed on north-northwest facets. A plot of RGR against thallus diameter revealed a wide scatter of data points with little evidence for a significant change in growth with thallus size. Hence, the study showed that the RGR of Rhizocarpon thalli at Snoqualmie is extremely slow and highly variable and significantly less than estimates based on lichenometry. To determine the growth curve of a yellow-green Rhizocarpon by direct measurement at such a site would require a large sample of thalli and careful standardization of the species studied, the aspect conditions under which the thalli were measured, and the initial hypothallus width of the thalli. © 2005 Regents of the University of Colorado.

Size frequency distribution of prion protein (PrP) aggregates in variant Creutzfeldt-Jakob disease (vCJD)

The frequency distribution of aggregate size of the diffuse and florid-type prion protein (PrP) plaques was studied in various brain regions in cases of variant Creutzfeldt-Jakob disease (vCJD). The size distributions were unimodal and positively skewed and resembled those of β-amyloid (Aβ) deposits in Alzheimer's disease (AD) and Down's syndrome (DS). The frequency distributions of the PrP aggregates were log-normal in shape, but there were deviations from the expected number of plaques in specific size classes. More diffuse plaques were observed in the modal size class and fewer in the larger size classes than expected and more florid plaques were present in the larger size classes compared with the log-normal model. It was concluded that the growth of the PrP aggregates in vCJD does not strictly follow a log-normal model, diffuse plaques growing to within a more restricted size range and florid plaques to larger sizes than predicted. © Springer-Verlag 2005.

The effect of rock surface aspect on growth, size structure and competition in the lichen Rhizocarpon geographicum

Rhizocarpon geographicum is a crustose lichen found frequently on rock surfaces of southern aspect and less frequently on rock surfaces of northern aspect in Gwynedd, North Wales. This study tested the hypothesis that the radial growth of R. geographicum thalli predicts aspect distribution. Thalli of all sizes, however, exhibited significantly greater radial growth over 18 months on northwest compared with southeast facing surfaces. The hypothesis that a more intense competitive environment on northwest facing surfaces may explain the aspect distribution of R. geographicum was then tested. The size frequency distributions of thalli revealed a higher proportion of thalli in the smallest size class and a more restricted thallus size range on the northwest facing surfaces. In addition, thallus mortality appeared to be greater on northwest facing surfaces. Significantly more associated lichen species were present on rock surfaces of northern aspect at sites where R. geographicum was present. The mean frequency of the associated lichen species, however, was significantly lower on surfaces of northern aspect where R. geographicum was present. In addition, two common foliose species at these sites were demonstrated experimentally to overgrow thalli of R. geographicum. It is concluded that the growth of R. geographicum over the study period did not predict aspect distribution and that differences in the competitive environments on northwest and southeast surfaces may be an important factor determining aspect distribution. © 2002 Elsevier Science B.V. All rights reserved.

Range of self-tests available to buy in the United Kingdom: an Internet survey

We aimed to describe the availability in the United Kingdom of self-tests that are used to diagnose or screen for conditions without involving a health professional. A systematic Internet search identified 104 unique self-tests related to 24 named conditions including cancers, chronic conditions and infections. These self-tests require various samples including blood obtained using a lancet. The samples are processed at home with results available in minutes or sent to a laboratory for processing with results returned to the individual by e-mail or post. Prices per self-test and condition range from <1 pound to 76 pound. Self-tests are readily available, and further work is needed to assess their impact.

Controlling particle size in the Stöber process and incorporation of calcium

The Stӧber process is commonly used for synthesising spherical silica particles. This article reports the first comprehensive study of how the process variables can be used to obtain monodispersed particles of specific size. The modal particle size could be selected within in the range 20 – 500 nm. There is great therapeutic potential for bioactive glass nanoparticles, as they can be internalised within cells and perform sustained delivery of active ions. Biodegradable bioactive glass nanoparticles are also used in nanocomposites. Modification of the Stӧber process so that the particles can contain cations such as calcium, while maintaining monodispersity, is desirable. Here, while calcium incorporation is achieved, with a homogenous distribution, careful characterisation shows that much of the calcium is not incorporated. A maximum of 10 mol% CaO can be achieved and previous reports are likely to have overestimated the amount of calcium incorporated.

Size frequency distribution of beta-amyloid (Abeta) deposits in dementia with Lewy bodies

In Alzheimer's disease (AD) and Down's syndrome (DS), the size frequency distribution of the beta-amyloid (Abeta) deposits can be described by a log-normal model and may indictae the growth of the deposits. This study determined the size frequency distribution of the Abeta deposits in the temporal lobe in 8 casaes of dementia with Lewy bodies (DLB) with associated AD pathology (DLB/AD. The size distributions of Abeta deposits were unimodal and positively skewed; the mean size of deposi and the degree of skew varying with deposit type and brain region. Size distributions of the primitive deposits had lower means and were less skewed compared with the diffuse and classic deposits. In addition, size distributions in the hippocampus and parahippocampal gyrus (PHG) had larger means and a greater degree of skew compared with other cortical gyri. All size distributions deviated significantly from a log-normal model. There were more Abeta deposits than expected in the smaller size classes and fewer than expected near the mean and in the larger size classes. The data suggest thatthe pattern of growth of the Abeta deposits in DLB/AD depends both on deposit morphology and brain area. In addition, Abeta deposits in DLB appear to grow to within a more restricted size range than predicted and hence, to have less potential for growth compared with cases of 'pure' AD and DS.

Size distribution curves of senile plaques in patients with Alzheimer’s disease: do plaques grow according to the log-normal model?

The size frequency distributions of diffuse, primitive and cored senile plaques (SP) were studied in single sections of the temporal lobe from 10 patients with Alzheimer’s disease (AD). The size distribution curves were unimodal and positively skewed. The size distribution curve of the diffuse plaques was shifted towards larger plaques while those of the neuritic and cored plaques were shifted towards smaller plaques. The neuritic/diffuse plaque ratio was maximal in the 11 – 30 micron size class and the cored/ diffuse plaque ratio in the 21 – 30 micron size class. The size distribution curves of the three types of plaque deviated significantly from a log-normal distribution. Distributions expressed on a logarithmic scale were ‘leptokurtic’, i.e. with excess of observations near the mean. These results suggest that SP in AD grow to within a more restricted size range than predicted from a log-normal model. In addition, there appear to be differences in the patterns of growth of diffuse, primitive and cored plaques. If neuritic and cored plaques develop from earlier diffuse plaques, then smaller diffuse plaques are more likely to be converted to mature plaques.

The investigation of the sensitivity gradient of the visual field, as a function of stimulus dynamic range, in the normal and abnormal eye

The study utilized the advanced technology provided by automated perimeters to investigate the hypothesis that patients with retinitis pigmentosa behave atypically over the dynamic range and to concurrently determine the influence of extraneous factors on the format of the normal perimetric sensitivity profile. The perimetric processing of some patients with retinitis pigmentosa was considered to be abnormal in either the temporal and/or the spatial domain. The standard size III stimulus saturated the central regions and was thus ineffective in detecting early depressions in sensitivity in these areas. When stimulus size was scaled in inverse proportion to the square root of ganglion cell receptive field density (M-scaled), isosensitive profiles did not result, although cortical representation was theoretically equivalent across the visual field. It was conjectured that this was due to variations in the ganglion cell characteristics with increasing peripheral angle, most notably spatial summation. It was concluded that the development of perimetric routines incorporating stimulus sizes adjusted in proportion to the coverage factor of retinal ganglion cells would enhance the diagnostic capacity of perimetry. Good general and local correspondence was found between perimetric sensitivity and the available retinal cell counts. Intraocular light scatter arising both from simulations and media opacities depressed perimetric sensitivity. Attenuation was greater centrally for the smaller LED stimuli, whereas the reverse was true for the larger projected stimuli. Prior perimetric experience and pupil size also demonstrated eccentricity-dependent effect on sensitivity. Practice improved perimetric sensitivity for projected stimuli at eccentricities greater than or equal to 30o; particularly in the superior region. Increase in pupil size for LED stimuli enhanced sensitivity at eccentricities greater than 10o. Conversely, microfluctuation in the accommodative response during perimetric examination and the correction of peripheral refractive error had no significant influence on perimetric sensitivity.

Technical and economic study of plantain food products

Plantain (Banana-Musa AAB) is a widely growing but commercially underexploited tropical fruit. This study demonstrates the processing of plantain to flour and extends its use and convenience as a constituent of bread, cake and biscuit. Plantain was peeled, dried and milled to produce flour. Proximate analysis was carried out on the flour to determine the food composition. Drying at temperatures below 70ºC produced light coloured plantain flour. Experiments were carried out to determine the mechanism of drying, the heat and mass transfer coefficients, effect of air velocity, temperature and cube size on the rate of drying of plantain cubes. The drying was diffusion controlled. Pilot scale drying of plantain cubes in a cabinet dryer showed no significant increase of drying rate above 70ºC. In the temperature range found most suitable for plantain drying (ie 60 to 70ºC) the total drying time was adequately predicted using a modified equation based on Fick's Law provided the cube temperature was taken to be about 5ºC below the actual drying air temperature. Studies of baking properties of plantain flour revealed that plantain flour can be substituted for strong wheat flour up to 15% for bread making and up to 50% for madeira cake. A shortcake biscuit was produced using 100% plantain flour and test-marketed. Detailed economic studies showed that the production of plantain fruit and its processing into flour would be economically viable in Nigeria when the flour is sold at the wholesale price of NO.65 per kilogram provided a minimum sale of 25% plantain suckers. There is need for government subsidy if plantain flour is to compete with imported wheat flour. The broader economic benefits accruing from the processing of plantain fruit into flour and its use in bakery products include employment opportunity, savings in foreign exchange and stimulus to home agriculture.

Creating resilient SMEs:why one size might not fit all

This article is a first step towards addressing a gap in the field of organisational resilience research by examining how small and medium enterprises (SME) manage the threat and actuality of extreme events. Pilot research found that the managerial framing of extreme events varied by a range of organisational factors. This finding informed further examination of the contextual nature of the resilience concept. To date, large organisations have been the traditional focus of empirical work and theorising in this area; yet the heterogeneous SME sector makes up approximately 99% of UK industry and routinely operates under conditions of uncertainty. In a comparative study examining UK organisational resilience, it emerged that SME participants had both a distinctive perspective and approach to resilience when compared to participants from larger organisations. This article presents a subset of data from 11 SME decision-makers. The relationship between resilience capabilities, such as flexibility and adaptation, is interrogated in relation to organisational size. The data suggest limitations of applying a one-size-fits-all organisation solution (managerial or policy) to creating resilience. This study forms the basis for survey work examining the extent to which resilience is an organisationally contingent concept in practice.

Orders for sale:the creditor and the family home : part one

This, the first part of a two-part article on the discretionary powers of the courts to order a sale of the family home at the request of a secured creditor, considers whether the enactment of the Trusts of Land and Appointment of Trustees Act 1996 s.15 has led judicial decision making to favour the interests of the co-owner of the home. Reviews cases heard since the coming into force of the Act, looking at the factors taken into account when balancing the interests of the creditor and debtor, including the continued need to have a family home, the availability of other assets to pay off the debt, the size of the debt and the likelihood of repayment.

Dynamic measurement of accommodation and pupil size using the portable Grand Seiko FR-5000 autorefractor

PURPOSE. The purpose of this study was to evaluate the potential of the portable Grand Seiko FR-5000 autorefractor to allow objective, continuous, open-field measurement of accommodation and pupil size for the investigation of the visual response to real-world environments and changes in the optical components of the eye. METHODS. The FR-5000 projects a pair of infrared horizontal and vertical lines on either side of fixation, analyzing the separation of the bars in the reflected image. The measurement bars were turned on permanently and the video output of the FR-5000 fed into a PC for real-time analysis. The calibration between infrared bar separation and the refractive error was assessed over a range of 10.0 D with a model eye. Tolerance to longitudinal instrument head shift was investigated over a ±15 mm range and to eye alignment away from the visual axis over eccentricities up to 25.0°. The minimum pupil size for measurement was determined with a model eye. RESULTS. The separation of the measurement bars changed linearly (r = 0.99), allowing continuous online analysis of the refractive state at 60 Hz temporal and approximately 0.01 D system resolution with pupils >2 mm. The pupil edge could be analyzed on the diagonal axes at the same rate with a system resolution of approximately 0.05 mm. The measurement of accommodation and pupil size were affected by eccentricity of viewing and instrument focusing inaccuracies. CONCLUSIONS. The small size of the instrument together with its resolution and temporal properties and ability to measure through a 2 mm pupil make it useful for the measurement of dynamic accommodation and pupil responses in confined environments, although good eye alignment is important. Copyright © 2006 American Academy of Optometry.

Simultaneous continuous recording of accommodation and pupil size using the modified Shin-Nippon SRW-5000 autorefractor

The internal optics of the recent models of the Shin-Nippon SRW-5000 autorefractor (also marketed as the Grand Seiko WV-500) have been modified by the manufacturer so that the infrared measurement ring has been replaced by pairs of horizontal and vertical infrared bars, on either side of fixation. The binocular, open field-of-view, allowing the accommodative state to be objectively monitored while a natural environment is viewed, has made the SRW-5000 a valuable tool in further understanding the nature of the oculomotor response. It is shown that the root-mean-square of model eye measures was least (0.017 ± 0.002D) when the separation of the horizontal measurement bars were averaged twice. The separation of the horizontal bars changes by 3.59 pixels/dioptre (r2 = 0.99), allowing continuous on-line analysis of the refractive state at up to 60 Hz temporal resolution to an accuracy of <0.001D, with pupils >3 mm. The pupil edge is not obscured in the diagonal axis by the measurement bars, unlike the ring of the original optics, so in the newer model pupil size can be measured simultaneously at the same rate with a resolution of <0.001 mm. The measurements of accommodation and pupil size are relatively unaffected by eccentricity of viewing up to ±10° from the visual axis and instrument focusing inaccuracies over a range of 10 mm towards the eye and 5 mm away from the eye. The resolution and temporal properties of the analysis are therefore ideal for the simultaneous measurement of dynamic accommodation and pupil responses. © 2004 The College of Optometrists.