On Robo assessment of risk profiles

Mestrado em FinançasNos tempos que correm, o mundo tecnológico tem crescido a um ritmo muito acelerado, o que significa que tem de haver uma rápida adaptação, e as empresas sentem a necessidade de se reinventar. As inovações tecnológicas também alcançaram a indústria de serviços de gestão de ativos com os chamados Robo-Advisors. Estas são as plataformas que fornecem aconselhamento financeiro ou gestão automatizada de investimentos. Os Robo-Advisors coletam informações sobre a situação financeira e os objetivos futuros de seus clientes através de questionários, recomendando carteiras baseadas em ETFs, supostamente adequadas ao perfil de risco do investidor. No entanto, os questionários parecem vagos e os robôs não revelam os métodos usados na alocação de ativos. Este estudo visa contribuir para a compreensão da eficácia dessas plataformas. Baseia-se na teoria da utilidade esperada e, para vários níveis de aversão relativa ao risco, propomos carteiras de média-variância ótimas. Em seguida, comparamos as nossas carteiras com as carteiras propostas pela plataforma Riskalyze, para três tipos diferentes de investidores: conservador, moderado e agressivo. Avaliando o seu desempenho in-sample e out-of-sample. Concluímos que, a longo prazo, a metodologia utilizada pelos robo-portfolios, de acordo com o perfil de risco do investidor, pode ser eficaz para investidores que apresentam um maior nível de aversão ao risco, porém para investidores com aversão ao risco relativamente menor os portfólios de média-variância tendem a ter melhor desempenho.Nowadays, the technological world has been growing at a very fast rate, which means there has to be a quick adaptation and companies feel the need to reinvent themselves. Technological innovations also reached the asset management service industry with the so-called the Robo-Advisors. These are platforms that provide financial advice or automated investment management. Robo-Advisors collect information about their clients' financial situation and future goals through questionnaires, then recommending ETF based portfolios supposed to fit investor's risk profile. However, questionnaires seem to be vague, and robos do not reveal the methods used in asset allocation. This study aims at contributing to the understanding the effectiveness of these platforms. It relies on expected utility theory, and, for various levels of relative risk aversion we propose optimal mean-variance portfolios. We then compare our portfolios with the portfolios proposed by the Riskalyze platform, for three different types of investors: conservative, moderate and aggressive. By evaluating their in-sample and out-of-sample performance. We conclude, that in the long run, the methodology used by robo-portfolios, according to the investor's risk profile, can be effective for investors who have a higher level of risk aversion, however for investors with relatively lower risk aversion the mean-variance portfolios tend to perform better.info:eu-repo/semantics/publishedVersio

Sulfated Polysaccharides in Marine Sponges: Extraction Methods and Anti-HIV Activity

The extraction, fractionation and HIV-1 inhibition potential of polysaccharides extracted from three species of marine sponges, Erylus discophorus, Cliona celata and Stelletta sp., collected in the Northeastern Atlantic, is presented in this work. The anti-HIV activity of 23 polysaccharide pellets and three crude extracts was tested. Crude extracts prepared from Erylus discophorus specimens were all highly active against HIV-1 (90 to 95% inhibition). Cliona celata pellets showed low polysaccharide content (bellow 38.5%) and almost no anti-HIV activity (<10% inhibition). Stelletta sp. pellets, although quite rich in polysaccharide (up to 97.3%), showed only modest bioactivity (<36% HIV-1 inhibition). Erylus discophorus pellets were among the richest in terms of polysaccharide content (up to 98%) and the most active against HIV-1 (up to 95% inhibition). Chromatographic fractionation of the polysaccharide pellet obtained from a specimen of Erylus discophorus (B161) yielded only modestly active fractions. However, we could infer that the active molecule is most probably a high molecular weight sulfated polysaccharide (>2000 kDa), whose mechanism is possibly preventing viral attachment and entry (fusion inhibitor)

Health support directed at lesbian, gay and bisexuals : sociodemographic context and education

Introduction: Promoting the dignity of people and equality of access to care are two fundamental pillars of good healthcare practice. Thus, producing evidence on educating and investigating competencies and practices aimed at lesbian, gay and bisexual (LGB) clients and their determinants constitute synergetic strategies which are necessary to ensure excellent health care for this particular group. Objective: To analyse the effects of the socio-demographic conditions and training in the care competence and practices carried out by health professionals for lesbian, gay and bisexual clients. Methodology: Descriptive study carried out on a sample of 119 Portuguese health professionals, the majority of whom are female with an average age of 37.90 years. Instruments:Sexual Orientation Counselor Competency Scale Citation (Bidell,2005) Correlates of Homophobia and Gay Affirmative Practice in Rural Practitioners (Crisp,2002), adapted by Pereira & Cunha (2014). Results: Health professionals with an age 31years and with specific training in psychological intervention were shown to have greater affirmative competence. 47.1% were shown to be competent professionals, 26.9% being highly competent and 26% incompetent. The health professionals with the highest competence were also the ones with the best health practices (66.7%). Conclusion: The results show the existence of a significant association between the socio-demographic variables and healthcare practices. They also show that the health professionals with the least competence also used inadequate healthcare practices for LGB clients. Training in affirmative competencies should provide for ethically guided therapeutic interventions which are culturally accessible and socially inclusive and thus ensuring the effectiveness of health systems.info:eu-repo/semantics/publishedVersio

Assistência à pessoa idosa com 80 e mais anos no serviço de urgência: perspetiva dos profissionais das estruturas residenciais para idosos

Introdução: O aumento da esperança média de vida da população tem-se refletido significativamente na acentuada taxa de envelhecimento e no aumento da prevalência de doenças crónicas, levando a um aumento da afluência aos Serviços de Urgência, pela pessoa idosa com 80 e mais anos. Objetivo: Identificar os motivos das idas às urgências por parte da pessoa idosa, tendo em conta a perspetiva dos profissionais das Estruturas Residenciais para Idosos; explorar medidas favorecedoras da redução do envio das pessoas idosas com 80 e mais anos ao Serviço de Urgência. Métodos: Estudo observacional de natureza descritiva em coorte transversal em uma amostra não probabilística de 60 representantes das Estruturas Residenciais para Idosos que enviaram pessoas idosas com 80 e mais anos ao Serviço de Urgência de um Centro Hospitalar da zona Centro de Portugal. A recolha de dados foi efetuada com recurso a Entrevistas baseadas num guião semiestruturado elaborado pela equipa de investigadores. Resultados: Os motivos mais prevalentes que levam a pessoa idosa com 80 e mais anos ao Serviço de Urgência, são, segundo os profissionais das Estruturas Residenciais para Idosos, a queda (73,33%), dificuldade respiratória (65%) e doença cardiovascular (30%). Das sugestões pertinentes para a redução do envio das pessoas idosas com 80 e mais anos ao Serviço de Urgência, destacam-se maior acessibilidade de contacto com o centro de saúde (25%), existirem horários alargados nos centros de saúde (21,67%) e maior acompanhamento do médico da própria instituição (18,33%). Conclusão: Sugere-se a replicação deste estudo com uma amostra mais alargada, devido ao seu número ser reduzido e à escassez de estudos que incidam apenas na ida das pessoas idosas com 80 e mais anos institucionalizadas ao Serviço de Urgência

Lesões e anomalias observadas na inspeção sanitária do aparelho reprodutor feminino e úbere de bovinos

As anomalias do aparelho reprodutor assumem particular importância na produção bovina, uma vez que condicionam a fertilidade do animal, originando infertilidade ou esterilidade, sendo frequentemente causa de refugo dos animais. A identificação de lesões no aparelho reprodutor feminino em matadouro é de particular importância uma vez que fornece indicações sobre o peso relativo destas na economia das explorações, e pode alertar para questões de Saúde Pública. Ao abate normal são apresentados animais em perfeito estado hígido, o que não impede que apresentem as mais variadas lesões e ou anomalias. Os problemas associados ao aparelho reprodutor podem estar relacionados com situações que levam à diminuição da qualidade e/ou salubridade das carnes, podendo ser observadas anomalias de origem congénita e/ou adquirida. Neste trabalho iremos descrever a metodologia de inspeção ante e post mortem do apareho reprodutor feminino e úbere. Serão ainda descritas algumas lesões encontradas no aparelho genital feminino e úbere de animais abatidos em regime de abate normal dada a sua maior frequência e/ou importância, e referir a decisão sanitária baseada nos normativos legais e orientações do Codex alimentarius

Consulting project for Câmara Municipal de Cascais street vending in Portugal- creation and development of a new sales channel

Field lab: Consulting la

Impact of exercise training on cardiotoxicity and cardiac health outcomes in women with breast cancer anthracycline chemotherapy: a study protocol for a randomized controlled trial

Anthracyclines are chemotherapeutic agents frequently used in breast cancer (BC) treatment. Although it improves disease-free and overall survival, the use of anthracyclines is associated with a cumulative risk of cardiac toxicity. Preventive strategies to optimize cardiac health are needed and exercise is proposed as a potential non-pharmacological approach for counteracting anthracycline-related cardiotoxicity (ARC). Most of the data on the effects of exercise to reduce ACT are from animal studies, with only a few studies in a limited number of patients indicating beneficial effects. To better understand the effectiveness of exercise in the mitigation of ARC, clinical, real-world trials claim require a larger sample size and more accurate and valuable clinical biomarkers. In this study, we intend to include a large sample and investigate cardiac function through serial measures of biomarkers and imaging techniques.Banco Santander (BID/ICI-FCSH/SANTANDER UNIVERSIDADES-UBI/2017)info:eu-repo/semantics/publishedVersio

Structural laterality is associated with cognitive and mood outcomes: An assessment of 105 healthy aged volunteers

The human brain presents multiple asymmetries that dynamically change throughout life. These phenomena have been associated with cognitive impairments and psychiatric disorders although possible associations with specific patterns of cognitive aging are yet to be determined. We have therefore mapped and quantified morphological asymmetries in a heterogeneous and aged population (65.2 +/- 8.0 years old, 52 male and 53 female) to explore potential associations between the asymmetries in specific brain regions and cognitive performance. The sample was characterized in a battery of neuropsychological tests and in terms of brain structural asymmetries using a ROI-based approach. A substantial number of brain areas presented some degree of asymmetry. Such biases survived a stringent statistical correction and were largely confirmed in a voxel-based analysis. In specific brain areas, like the thalamus and insula, asymmetry was correlated with cognition and mood descriptors as the Stroop words/colors test or depressive mood scale, respectively. Curiously in the latter, the association was independent of its left/right direction. Altogether, results reveal that asymmetry is widespread in the aged brain and that area-specific biases (degree and direction) associate with the functional profile of the individual.European Commission (FP7): “SwitchBox” [contract HEALTH-F2-2010-259772] and Portuguese North Regional Operational Program (ON.2 – O Novo Norte) under the National Strategic Reference Framework (QREN), through the European Regional Development Fund (FEDER) – PM and NCS; Fundação para a Ciência e a Tecnologia (FCT) [grant numbers SFRH/BD/52291/2013 to ME via Inter-University Doctoral Programme in Ageing and Chronic Disease (PhDOC), SFRH/BPD/80118/2011 to HA and SFRH/BD/90078/2012 to TCC]; and FCT/MEC and ON.2 – ONOVONORTE – North Portugal Regional Operational Programme 2007/2013, of the National Strategic Reference Framework (NSRF) 2007/2013, through FEDER [project FCTANR/NEU-OSD/0258/2012 to RM]info:eu-repo/semantics/publishedVersio

Evidence for lack of direct causality between pain and affective disturbances in a rat peripheral neuropathy model

[Epub ahead of print]Chronic pain is frequently accompanied by the manifestation of emotional disturbances and cognitive deficits. While a causality relation between pain and emotional/cognitive disturbances is generally assumed, several observations suggest a temporal dissociation and independent mechanisms. We therefore studied Sprague-Dawley rats that presented a natural resistance to pain manifestation in a neuropathy model (spared nerve injury [SNI]) and compared their performance in a battery of behavioral paradigms-anxiety, depression and fear memory-with animals that presented a pain phenotype. Afterward, we performed an extensive volumetric analysis across prefrontal, orbitofrontal and insular cortical areas. The majority of SNI animals manifested mechanical allodynia (low threshold [LT]), but 13% were similar to Sham controls (high threshold [HT]). Readouts of spontaneous hypersensivity (paw flinches) were also significantly reduced in HT and correlated with allodynia. To increase the specificity of our findings, we segregated the SNI animals in those with left (SNI-L) and right (SNI-R) lesions and the lack of association between pain and behavior still remains. Left-lesioned animals, independent of the LT or HT phenotype, presented increased anxiety-like behaviors and decreased well-being. In contrast, we found that the insular cortex (agranular division) was significantly smaller in HT than in LT. To conclude, pain and emotional disturbances observed following nerve injury are to some extent segregated phenomena. Also, HT and LT SNI presented differences in insular volumes, an area vastly implicated in pain perception, suggesting a supraspinal involvement in the manifestation of these phenotypes.This work has been funded by the European Regional Development Fund (FEDER), through the Competitiveness Factors Operational Programme (COMPETE) and the Northern Portugal Regional Operational Programme (NORTE 2020) under the Portugal 2020 Partnership Agreement (project NORTE-01-0145-FEDER-000023). It was also funded by National and International funds, through the Foundation for Science and Technology (FCT), under the scope of the projects POCI-01-0145- FEDER-007038 and PTDC/NEU-SCC/5301/2014 and by the IASP Early Career Research Grant 2015. Researchers were supported by FCT grant numbers PD/BD/114117/2015 (MRG via Inter-University Doctoral Programme in Ageing and Chronic Disease, PhDOC), SFRH/BD/109111/2015 (AMC via PhD Program in Health Sciences), SFRH/BD/52291/2013 (ME via PhDOC), SFRH/BD/89936/2012 (SB via PhD Program in Health Sciences (Applied)), PDE/BDE/113604/2015 (RM via PhD Program in Health Sciences (Applied)), PDE/BDE/113601/2015 (PSM via PhD Program in Health Sciences (Applied)) and SFRH/BPD/80118/2011 (HA). ARS integrated the Master Programme in Health Sciences of the School of Medicine, University of Minho.info:eu-repo/semantics/acceptedVersio