Measures of corporate earnings: what number is best?

Revelations of corporate fraud in 2002 shook the public's confidence in financial reporting and led to calls for reform. Without credible, transparent, and comparable financial information, investors, auditors, and others cannot make decisions that are essential to the efficient functioning of the economy. But while rules can be improved, it is not possible to achieve a rigid standard that applies uniformly to every company. This Economic Commentary explains why.Corporate profits

An option for anticipating Fed action

Options contracts on federal funds futures, a new financial instrument introduced earlier this year, can be analyzed to gauge public expectations of future Fed actions. The real bonus is that they can detect differences of opinion when markets see more than two possible outcomes for an FOMC meeting as well as the likelihood associated with each.Options (Finance) ; Federal funds rate ; Federal Open Market Committee

Mutual funds, fee transparency, and competition

Mutual funds enable small, less experienced investors to hold diversified portfolios of stocks and bonds at relatively low costs. Though the mutual fund market is competitive in many ways, fees can vary substantially for what are essentially identical products. This may be due to bundling of services, but it may also reflect some confusion on the part of less experienced investors, which inhibits comparative shopping among funds. Suggested reforms for improved fee disclosure seek to make fees more transparent for less informed investors and should improve competitive discipline among funds.Mutual funds

Uroflowmetric Monitoring and its Role in Evaluating the Results of Surgical Treatment in Children with Urethral Valves

This paper presents the results of research and treatments in 41 children (from two months to 15 years of age) with urethral valves. In all, 16 patients were treated using the endoscopic method, 7 patients by employing the polyethylene urethrotome and 18 patients treated by the proposed method, using a metallic urethrotome. Diagnosis of the urethral valves was done using ultrasonography, voiding cystourethrogram, urethrocystoscopy, uroflowmetry and cystomanometry. Mathematical modeling was applied to assess the treatment methods. The proposed method, using the metallic urethrotome, was preferable to the endoscopic method

An association between TRP64ARG polymorphism of the B3 adrenoreceptor gene and some metabolic disturbances

<p>Abstract</p> <p>Backgrounds</p> <p>B3 adrenoreceptors (ADRB3) are abundant in adipose tissue and play the role in its metabolism and lipolysis. Some variants of the ADRB3 gene may predispose subjects for the development obesity and metabolic abnormalities in the setting of modern sedentary lifestyle. ADRB3 gene polymorphism association with metabolic disturbances has never been studied before in the ethnic Kyrgyz population.</p> <p>Aim</p> <p>To study an association between Trp64Arg polymorphism of the ADRB3 and metabolic syndrome (MS) components in an ethnic Kyrgyz group.</p> <p>Materials and methods</p> <p>213 Ethnic Kyrgyz volunteers over the age of 30 were enrolled in the study. The assessment plan for each individual comprised of general physical and anthropometric exams as well as laboratory tests (glucose, lipid panel, insulin) and genotyping by Trp64Arg polymorphism of the ADRB3. MS diagnosis was consistent with modified ATP III criteria (2005). Logistic regression analysis was performed to test the potential independent association between Arg64 allele with obesity, abdominal obesity (AO) and arterial hypertension (AH).</p> <p>Results</p> <p>Trp64Arg polymorphism of the ADRB3 was assessed in 213 individuals (145 men, 68 women) aged 30-73 (mean age 50.7 ± 7.6). Arg64 allele frequency was 0.239; ADRB3 genotype distribution among participants was: Trp64 homozygotes 54.5%, Trp64Arg 43.2% and Arg64 homozygotes 2.3%. There was an association between Trp64Arg и Arg64Arg genotypes and higher BMI, WC and obesity frequency (p < 0.00009), AO (p < 0.01), type 2 diabetes mellitus (DM) (p < 0.005) and lower high density cholesterol (HDL-C) level (p < 0.03). The logistic regression analysis showed the correlation of the Arg64 allele with obesity (OR 3.159; 95% CI 1.789-5.577) and AO (OR 1.973; 95% CI 1.118-3.481). The association between Arg64 allele and AH lost its significance after adjustment for obesity.</p> <p>Conclusion</p> <p>Arg64 allele of the ADRB3 gene in the studied group has an association with MS components such as obesity, AO and decreased HDL-C level.</p

Fast linearized coronagraph optimizer (FALCO) I: a software toolbox for rapid coronagraphic design and wavefront correction

The Fast Linearized Coronagraph Optimizer (FALCO) is an open-source toolbox of routines for coronagraphic focal plane wavefront correction. The goal of FALCO is to provide a free, modular framework for the simulation or testbed operation of several common types of coronagraphs. FALCO includes routines for pair-wise probing estimation of the complex electric field and Electric Field Conjugation (EFC) control, and we ask the community to contribute other wavefront correction algorithms. FALCO utilizes and builds upon PROPER, an established optical propagation library. The key innovation in FALCO is the rapid computation of the linearized response matrix for each deformable mirror (DM), which facilitates re-linearization after each control step for faster DM-integrated coronagraph design and wavefront correction experiments. FALCO is freely available as source code in MATLAB at github.com/ajeldorado/falco-matlab and will be available later this year in Python 3 at github.com/ajeldorado/falco-python

Efficient Verifiable Computation of XOR for Biometric Authentication

This work addresses the security and privacy issues in remotebiometric authentication by proposing an efficient mechanism to verifythe correctness of the outsourced computation in such protocols.In particular, we propose an efficient verifiable computation of XORingencrypted messages using an XOR linear message authenticationcode (MAC) and we employ the proposed scheme to build a biometricauthentication protocol. The proposed authentication protocol is bothsecure and privacy-preserving against malicious (as opposed to honest-but-curious) adversaries. Specifically, the use of the verifiable computation scheme together with an homomorphic encryption protects the privacy of biometric templates against malicious adversaries. Furthermore, in order to achieve unlinkability of authentication attempts, while keeping a low communication overhead, we show how to apply Oblivious RAM and biohashing to our protocol. We also provide a proof of security for the proposed solution. Our simulation results show that the proposed authentication protocol is efficient