AN ANALYSIS OF THE PROFILES AND MOTIVATIONS OF HABITUAL COMMODITY SPECULATORS

The focus of this study is the habitual speculator in commodity futures markets. The speculator's activity broadens a market, creates essential liquidity, and performs an irreplaceable pricing function. Working knowledge of the profiles and motivations of habitual speculators is essential to both market theorist and policy makers. Responses to a 73 question survey were collected directly from retail commodity brokers with offices in Alabama. Each questionnaire recorded information on an individual commodity client who had traded for an extended period of time. The typical trader studied is a married, white male, age 52. He is affluent and well educated. He is a self-employed business owner who can recover from financial setbacks. He is a politically right wing conservative involved in the political process. He assumes a good deal of risk in most phases of his life. He is both an aggressive investor and an active gambler. This trader does not consider preservation of his commodity capital to be a very high trading priority. As a result, he rarely uses stop loss orders. He wins more frequently than he loses (over 51% of the time) but is an overall net loser in dollar terms. In spite of recurring trading losses, he has never made any substantial change in his basic trading style. To this trader, whether he won or lost on a particular trade is more important than the size of the win or loss. Thus he consistently cuts his profits short while letting his losses run. He also worries more about missing a move in the market by being on the sidelines than about losing by being on the wrong side of a market move; i.e., being in the action is more important than the financial consequences. Participating brokers confirmed that for the majority of the speculators studied, the primary motivation for continuous trading is the recreational utility derived largely from having a market position.Marketing,

Colonic Protein Fermentation and Promotion of Colon Carcinogenesis by Thermolyzed Casein

Thermolyzed casein is known to promote the growth of aberrant crypt foci (ACF) and colon cancer when it is fed to rats that have been initiated with azoxymethane. We speculated that the promotion was a consequence of increased colonic protein fermentation (i.e., that the thermolysis of the casein decreases its digestibility, increases the amount of protein reaching the colon, and increases colonic protein fermentation and that the potentially toxic products of this fermentation promote colon carcinogenesis). We found that the thermolysis of casein reduces its digestibility and increases colonic protein fermentation, as assessed by fecal ammonium and urinary phenol, cresol, and indol-3-ol. Thermolysis of two other proteins, soy and egg white protein, also increases colonic protein fermentation with increased fecal ammonia and urinary phenols, and thermolysis of all three proteins increases the levels of ammonia and butyric, valeric, and i-valeric acids in the cecal contents. We found, however, that the increased protein fermentation observed with thermolysis is not associated with pro-motion of colon carcinogenesis. With casein, the kinetics of protein fermentation with increasing thermolysis time are clearly different from the kinetics of promotion of ACF growth. The formation of the fermentation products was highest when the protein was thermolyzed for one hour, whereas promotion was highest for protein that had been thermolyzed for two or more hours. With soy and egg white, thermolysis increased colonic protein fermentation but did not promote colon carcinogenesis. Thus, although thermolysis of dietary casein increases colonic protein fermentation, products of this fermentation do not appear to be responsible for the promotion of colon carcinogenesis. Indeed, the results suggest that protein fermentation products do not play an important role in colon cancer promotion

Model-based signal processing techniques for ultrasonic flaw detection: simulation studies

The ultrasonic signals observed in inspection processes can often be accurately predicted by suitable measurement models. These model predictions can be used to provide important information to guide the development of subsequent signal processing algorithms. Here such a hybrid use of ultrasonic modeling and signal processing is demonstrated in the context of the problem of detecting ultrasonic flaw signals in noise. In particular, we wish to apply this hybrid methodology as an initial approach to solving the problem of detecting hard-alpha inclusions in titanium alloys

Wednesday Evening Session XIX ‘Town Meeting on a Working Group in NDE’

The following record of the Wednesday evening problem session at th effort Magruder Inn, Williamsburg was transcribed from audio tapes made during the presentations and discussion

Missouri soil surveys (1993)

Reviewed October 1993

Recent Advances in Model-Assisted Probability of Detection

The increased role played by probability of detection (POD) in structural integrity programs, combined with the significant time and cost associated with the purely empirical determination of POD, provides motivation for alternate means to estimate this important metric of NDE techniques. One approach to make the process of POD estimation more efficient is to complement limited empirical experiments with information from physics-based models of the inspection process or controlled laboratory experiments. The Model-Assisted Probability of Detection (MAPOD) Working Group was formed by the Air Force Research Laboratory, the FAA Technical Center, and NASA to explore these possibilities. Since the 2004 inception of the MAPOD Working Group, 11 meetings have been held in conjunction with major NDE conferences. This paper will review the accomplishments of this group, which includes over 90 members from around the world. Included will be a discussion of strategies developed to combine physics-based and empirical understanding, draft protocols that have been developed to guide application of the strategies, and demonstrations that have been or are being carried out in a number of countries. The talk will conclude with a discussion of future directions, which will include documentation of benefits via case studies, development of formal protocols for engineering practice, as well as a number of specific technical issues

Diatoms at \u3e5000 meters in the Quelccaya Summit Dome Glacier, Peru

Diatoms were found in late Holocene age ice-core samples recovered from the Quelccaya Summit Dome in the tropical Andes of Peru and were imaged by environmental scanning electron microscopy and identified. Freshwater diatoms in the genera Hantzschia, Pinnularia, and Aulacoseira were the most common taxa in the samples and indicate a freshwater source for the material, which also is suggested by the presence of the freshwater alga Volvox. The overall species composition of the diatoms suggests that the majority of taxa originated from a high-elevation lake or wetland in the cordillera surrounding the ice cap. The abundant diatom valves, up to 70 μm in size, likely were transported to the ice via wind

An EMAT System for Detecting Flaws in Steam Generator Tubes

The detection of flaws in steam generator tubing is often made difficult by environmental considerations. The small diameter, 7/8 inch (2.2 cm), long, 70 feet (21.3m), tubes occur in large bundles with access only being possible from the inside of the end of each tube. Furthermore, inspection must be fully automatic when the steam generator is part of a nuclear power plant because of radiation exposure limits. Consequently, a couplant free probe which can be operated remotely at the end of an automatic probe puller is needed. This paper SUillllarizes the development of an EMAT systan for this application. The device uses periodic permanent magnet probes to excite the fundamental torsional mode traveling along the axis of the tube. Included is a discussion of data obtained during a recently completed feasibility study and a description of a prototype system presently under construction

A mixed-methods evaluation of patients’ views on primary care multi-disciplinary teams in Scotland

BackgroundExpanding primary care multi-disciplinary teams (MDTs) was a key component of the 2018 Scottish GP contract, with over 4,700 MDT staff appointed since then.AimTo explore patients’ views on primary care MDT expansion in Scotland.Design and methods(1) Survey of patients recently consulting a GP in deprived-urban, affluent-urban and remote/rural areas, assessing awareness of five MDT roles and attitudes towards receptionist signposting; (2) 30 individual interviews exploring MDT-care experiences.ResultsOf 1,053 survey respondents, most were unaware of the option of MDT rather than GP consultations for three out of five roles (69% unaware of link worker appointments; 68% mental health nurse; 58% pharmacist). Reception signposting was less popular in deprived-urban areas (34% unhappy vs 29% in remote/rural vs 21% affluent-urban; p&lt;0.001), and in patients with multimorbidity (31% unhappy vs 24% in non-multimorbid; p&lt;0.05).Two-thirds of interviewees had multimorbidity and almost all reported positive MDT-care experiences. However, MDT-care was generally seen as a supplement rather than a substitute for GP care. Around half of patients expressed concerns about reception signposting. These patients were more likely to also express concerns about GP access in general. Both of these concerns were more common in deprived-urban areas than in remote/rural or affluent-urban areas.ConclusionMDT-care has expanded in Scotland with limited patient awareness. Although patients understand its potential value, many are unhappy with reception signposting to first-contact MDT care, especially those in deprived-urban areas living with multimorbidity. This represents a barrier to the aims of the new GP contract.<br/

STRATEGIC AGRIBUSINESS OPERATION REALIGNMENT IN THE TEXAS PRISON SYSTEM

Mathematical programming-based systems analysis is used to examine the consequences of alternative operation configuration for the agricultural operations within the Texas Department of Criminal Justice. Continuation versus elimination of the total operation as well as individual operating departments are considered. Methodology includes a firm systems operation model combined with capital budgeting and an integer programming based investment model. Results indicate the resources realize a positive return as a whole, but some enterprises are not using resources profitably. The integer investment model is found to be superior for investigating whether to continue multiple interrelated enterprises.agribusiness, enterprise selection, mathematical programming, optimal enterprise organization, Agribusiness,