Finding a maximum skewness portfolio - A general solution to three-moments portfolio choice

Considering the three first moments and allowing short sales, the efficient portfolios set for n risky assets and a riskless one is found, supposing that agents like odd moments and dislike even ones. Analytical formulas for the solution surface are obtained and important geometric properties provide insights on its shape in the three dimensional space defined by the moments. A special duality result is needed and proved. The methodology is general, comprising situations in which, for instance, the investor trades a negative skewness for a higher expected return. Computation of the optimum portfolio weights is feasible in most cases.

Novel catalyst systems based on Ni(II), Ti(IV), and Cr(III) complexes for oligo-and polymerization of ethylene

The complex of Brookhart Ni(α-diimine)Cl2 (1) (α-diimine = 1,4-bis(2,6- diisopropylphenyl)-acenaphthenediimine) has been characterized after impregnation on silica (S1) and MAO-modified silicas (4.0, 8.0 and 23.0 wts.% Al/SiO2 called S2, S3 and S4, respectively). The treatment of these heterogeneous systems with MAO produces some active catalysts for the polymerization of the ethylene. A high catalytic activity has been gotten while using the system supported 1/S3 (196 kg of PE/mol[Ni].h.atm; toluene, Al/Ni = 1000, 30ºC, 60 min and atmospheric pressure of ethylene). The effects of polymerization conditions have been tested with the catalyst supported in S2 and the best catalytic activity has been gotten with solvent hexane, MAO as cocatalyst, molar ratio Al/Ni of 1000 and to the temperature of 30°C (285 kg of PE/mol[Ni].h.atm). When the reaction has been driven according to the in situ methodology, the activity practically doubled and polymers showed some similar properties. Polymers products by the supported catalysts showed the absence of melting fusion, results similar to those gotten with the homogeneous systems by DSC analysis. But then, polymers gotten with the transplanted system present according to the GPC’s curves the polydispersity (MwD) varies between 1.7 and 7.0. A polyethylene blend (BPE/LPE) was prepared using the complex Ni(α-diimine)Cl2 (1) (α-diimine = 1,4-bis(2,6-diisopropylphenyl)-acenaphthenediimine) and {TpMs*}TiCl3 (2) (TpMs* = hydridobis(3-mesitylpyrazol-1-yl)(5-mesitylpyrazol-1-yl)) supported in situ on MAO-modified silica (4.0 wts. -% Al/SiO2, S2). Reactions of polymerization of ethylene have been executed in the toluene in two different temperatures (0 and 30°C), varying the molars fraction of nickel (xNi), and using MAO as external cocatalyst. To all temperatures, the activities show a linear variation tendency with xNi and indicate the absence of the effect synergic between the species of nickel and the titanium. The maximum of activity have been found at 0°C. The melting temperature for the blends of polyethylene produced at 0 °C decrease whereas xNi increases indicating a good compatibility between phases of the polyethylene gotten with the two catalysts. The melting temperature for the blends of polyethylene showed be depend on the order according to which catalysts have been supported on the MAO-modified silica. The initial immobilization of 1 on the support (2/1/S2) product of polymers with a melting temperature (Tm) lower to the one of the polymer gotten when the titanium has been supported inicially (1/2/S2). The observation of polyethylenes gotten with the two systems (2/1/S2 and 1/2/S2) by scanning electron microscopy (SEM) showed the spherical polymer formation showing that the spherical morphology of the support to been reproduced. Are described the synthesis, the characterization and the catalytic properties for the oligomerization of the ethylene of four organometallics compounds of CrIII with ligands ([bis[2-(3,5-dimethyl-1-pyrazolyl)ethyl]amine] chromium (III) chloride (3a), [bis[2-(3,5- dimethyl-l-pyrazolyl)ethyl]benzylamine] chromium (III) chloride (3b), [bis[2-(3,5-dimethyl-lpyrazolyl) ethyl]ether] chromiun(III)chloride (3c), [bis[2-(3-phenyl-lpyrazolyl) ethyl]ether]chromiun(III)chloride (3d)). In relation of the oligomerization, at exception made of the compounds 3a, all complex of the chromium showed be active after activation with MAO and the TOF gotten have one effect differentiated to those formed with CrCl3(thf)3. The coordination of a tridentate ligand on the metallic center doesn't provoke any considerable changes on the formation of the C4 and C6, but the amount of C8 are decrease and the C10 and C12+ have increased. The Polymers produced by the catalyst 3a to 3 and 20 bar of ethylene have, according to analyses by DSC, the temperatures of fusion of 133,8 and 136ºC respectively. It indicates that in the two cases the production of high density polyethylene. The molar mass, gotten by GPC, is 46647 g/mols with MwD = 2,4 (3 bar). The system 3c/MAO showed values of TOF, activity and selectivity to different α-olefins according to the pressure of ethylene uses. Himself that shown a big sensibility to the concentration of ethylene solubilized.

Trade rules and exchange rate misalignments : in search for a WTO solution e medidas compensatórias

The debate on the link between trade rules and rules on exchange rates is raising the attention of experts on international trade law and economics. The main purpose of this paper is to analyze the impacts of exchange rate misalignments on tariffs as applied by the WTO – World Trade Organization. It is divided into five sections: the first one explains the methodology used to determine exchange rate misalignments and also presents its results for Brazil, US and China; the second summarizes the methodology applied to calculate the impacts of exchange rate misalignments on the level of tariff protection through an exercise of “misalignment tariffication”; the third examines the effects of exchange rate variations on tariffs and their consequences for the multilateral trading system; the fourth one creates a methodology to estimate exchange rates against a currency of the World and a proposal to deal with persistent and significant misalignments related to trade rules. The conclusions are present in the last section

Inexpensive solution for real-time video and image stitching

Image stitching is the process of joining several images to obtain a bigger view of a scene. It is used, for example, in tourism to transmit to the viewer the sensation of being in another place. I am presenting an inexpensive solution for automatic real time video and image stitching with two web cameras as the video/image sources. The proposed solution relies on the usage of several markers in the scene as reference points for the stitching algorithm. The implemented algorithm is divided in four main steps, the marker detection, camera pose determination (in reference to the markers), video/image size and 3d transformation, and image translation. Wii remote controllers are used to support several steps in the process. The built‐in IR camera provides clean marker detection, which facilitates the camera pose determination. The only restriction in the algorithm is that markers have to be in the field of view when capturing the scene. Several tests where made to evaluate the final algorithm. The algorithm is able to perform video stitching with a frame rate between 8 and 13 fps. The joining of the two videos/images is good with minor misalignments in objects at the same depth of the marker,misalignments in the background and foreground are bigger. The capture process is simple enough so anyone can perform a stitching with a very short explanation. Although real‐time video stitching can be achieved by this affordable approach, there are few shortcomings in current version. For example, contrast inconsistency along the stitching line could be reduced by applying a color correction algorithm to every source videos. In addition, the misalignments in stitched images due to camera lens distortion could be eased by optical correction algorithm. The work was developed in Apple’s Quartz Composer, a visual programming environment. A library of extended functions was developed using Xcode tools also from Apple.

New bacterial cellulose nanocomposites prepared by in situ radical polymerization of methacrylate monomers

Bacterial cellulose/polymethacrylate nanocomposites have received attention in numerous areas of study and in a variety of applications. The attractive properties of methacrylate polymers and bacterial cellulose, BC, allow the synthesis of new nanocomposites with distinct characteristics. In this study, BC/poly(glycidylmethacrylate) (BC/PGMA) and BC/poly(ethyleneglycol)methacrylate (BC/PPEGMA) nanocomposites were prepared through in situ free radical polymerization of GMA and PEGMA, respectively. Ammonium persulphate (APS) was used as an initiator and N,N’methylenebisacrilamide (MBA) was used as a crosslinker in BC/PGMA. Chemical composition, morphology, thermal stability, water absorption, mechanic and surface properties were determined through specific characterization techniques. The optimal polymerization was obtained at (1:2) for BC/PGMA, (1:2:0.2) ratio for BC/GMA/MBA and (1:20) for BC/PPEGMA, with 0.5% of initiator at 60 ºC during 6 h. A maximum of 67% and 87% of incorporation percentage was obtained, respectively, for the nanocomposites BC/PGMA/MBA and BC/PPEGMA. BC/PGMA nanocomposites exhibited an increase of roughness and compactation of the three-dimensional structure, an improvement in the thermal and mechanical properties, and a decrease in their swelling ability and crystallinity. On the other hand, BC/PPEGMA showed a decrease of stiffness of three-dimensional structure, improvement in thermal and mechanical properties, an increase in their swelling ability and a decrease the crystallinity. Both BC/polymethacrylate nanocomposites exhibited a basic surface character. The acid treatment showed to be a suitable strategy to modifiy BC/PGMA nanocomposites through epoxide ring-opening reaction mechanism. Nanocomposites became more compact, smooth and with more water retention ability. A decrease in the thermal and mechanical proprieties was observed. The new nanocomposites acquired properties useful to biomedical applications or/and removal of heavy metals due to the presence of functional groups.

An electroanalytical application of 2-aminothiazole-modified silica gel after adsorption and separation of Hg(II) from heavy metals in aqueous solution

2-Aminothiazole covalently attached to a silica gel surface was prepared in order to obtain an adsorbent for Hg(II) ions having the following characteristics: good sorption capacity, chemical stability under conditions of use, and, especially, high selectivity. The accumulation voltammetry of mercury(II) was investigated at a carbon paste electrode chemically modified with silica gel functionalized with 2-aminothiazole (SIAMT-CPE). The repetitive cyclic voltammogram of mercury(II) solution in the potential range -0.2 to + 0.6 V versus Ag/AgCl (0.02 mol L-1 KNO3; V = 20 mV s(-1)) show two peaks one at about 0.1 V and other at 0.205 V. The anodic wave peak at 0.205 V is well defined and does not change during the cycles and it was therefore further investigated for analytical purposes using differential pulse anodic stripping voltammetry in differents supporting electrolytes. The mercury response was evaluated with respect to pH, electrode composition, preconcentration time, mercury concentration, cleaning solution, possible interferences and other variables. The precision for six determinations (n = 6) of 0.02 and 0.20 mg L-1 Hg(II) was 4.1 and 3.5% (relative standard deviation), respectively. The detection limit was estimated as 0.10 mu g L-1 mercury(II) by means of 3:1 current-to-noise ratio in connection with the optimization of the various parameters involved and using the highest-possible analyser sensitivity. (c) 2006 Elsevier Ltd. All rights reserved.

Crystallization, preliminary X-ray analysis and molecular-replacement solution of haemoglobin-II from the fish matrinxa (Brycon cephalus)

Haemoglobins constitute a set of proteins with interesting structural and functional properties, especially when the two large animal groups reptiles and fishes are focused on. Here, the crystallization and preliminary X-ray analysis of haemoglobin-II from the South American fish matrinxa (Brycon cephalus) is reported. X-ray diffraction data have been collected to 3.0 Angstrom resolution using synchrotron radiation (LNLS). Crystals were determined to belong to space group P2(1) and preliminary structural analysis revealed the presence of two tetramers in the asymmetric unit. The structure was determined using the standard molecular-replacement technique.

Anthelmintic efficacy of oral trichlorfon solution against ivermectin resistant nematode strains in cattle

Infected calves from two different rural estates in Brazil were studied to assess the anthelmintic efficacy of oral trichlorfon against naturally occurring ivermectin resistant parasitic nematode strains. In experiment 1, infected animals were from a region where ivermectin resistant populations of Haemoncus placei, Cooperia punctata,Cooperia spatulata and Trichuris discolor have recently been identified. Six calves with natural gastrointestinal nematode infections were treated with 48.5 mg/kg aqueous trichlorfon administered orally and six calves acted as a non-treated control group. In experiment 11 24 naturally infected calves were selected to enter one of four treatment groups, six animals each received: 48.5 mg/kg oral trichlorfon; 200 mu g/kg subcutaneous 1% ivermectin; 630 mu g/kg subcutaneous 3.15% ivermectin; or no treatment (control group). Gastrointestinal helminths were counted and identified post-mortem at 7 days (trichlorfon and 1% ivermectin treated and untreated animals) or 14 days (3.15% ivermectin treated and untreated animals) after administration of the test agents. Experiment I identified a high level efficacy for oral trichlorfon against four helminth species that have previously been shown to be ivermectin resistant in this geographical region: percentage efficacy was 99.82% against adult H. placei, 99.18% against C. punctata, 99.33% against C. spatulata, 81.06% against T. axei, 98.46% against Oesophagostomum radiatum and 100% against T. discolor. Trichlorfon also showed activity against the ivermectin (1% and 3.15%) resistant helminth species identified in experiment 11, attaining efficacy levels of 99.17% against H. placei, 98.46% against C punctata and 100.00% against T. discolor. These findings indicate that oral trichlorfon is an effective treatment option in the management of cattle infected with ivermectin resistant helminths. (C) 2009 Elsevier B.V. All rights reserved.

Electrical conductivity of the seed soaking solution and soybean seedling emergence

Vigor of soybean [Glycine max (L.) Merrill] seeds can be evaluated by measuring the electrical conductivity (EC) of the seed soaking solution, which has shown a satisfactory relationship with field seedling emergence, but has not had aproper definition of range yet. This work studies the relationship between EC and soybean seedling emergence both in the field and laboratory conditions, using twenty two seed lots. Seed water content, standard germination and vigor (EC, accelerated aging and cold tests) were evaluated under laboratory conditions using -0.03; -0.20; -0.40 and -0.60 MPa matric potentials, and field seedling emergence was also observed. There was direct relationship between EC and field seedling emergence (FE). Under laboratory conditions, a decreasing relationship was found between EC and FE as water content in the substrate decreased, Relationships between these two parameters were also found when -0.03; -0.20 and -0.40 MPa matric potentials were used. EC tests can be used successfully to evaluate soybean seed vigor and identify lots with higher or lower field emergence potential.

Nutrient contents and production of rocket as affected by nitrogen concentrations in the nutritive solution

O empirismo no uso das soluções nutritivas é freqüente. Muitas vezes a mesma solução nutritiva é usada para diferentes espécies baseando-se apenas em semelhanças morfológicas. No entanto esta situação pode proporcionar desequilíbrio nutricional prejudicando tanto a produção quanto a qualidade do produto face o acúmulo de nitrato. Foi conduzido um trabalho em sistema hidropônico - NFT, com o objetivo de avaliar o efeito da concentração de nitrogênio na solução nutritiva na produção, nos teores de nutrientes e de nitrato em folhas de rúcula (Eruca sativa). O trabalho foi conduzido na primavera de 2003. Foram avaliadas quatro concentrações de nitrogênio na solução nutritiva (60,8; 121,6; 182,5; 243,5 mg L-1) e três cultivares de rúcula (Cultivada, Folha Larga e Selvática), sob delineamento de blocos ao acaso, fatorial 4 x 3, com quatro repetições. A cv. Cultivada apresentou maior estatura e fitomassa fresca de folhas, não diferindo da 'Folha Larga' quanto a número de folhas, teor de nitrato nas folhas e fitomassa seca e fresca da raiz. Houve incremento de NO3-, N, Ca e P e diminuição de Mg, K e S com o aumento da concentração de N na solução nutritiva. O cultivo da cv. Cultivada na concentração de 93 mg L-1 é a mais recomendada em função da maior produtividade e baixo teor de nitrato.

Temperature during soybean seed storage and the amount of electrolytes of soaked seeds solution

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Electrical conductivity and mineral composition of the imbibition solution of bean seeds during storage

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Nutrition, dry matter accumulation and partitioning and phosphorus use efficiency of potato grown at different phosphorus levels in nutrient solution

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)