Sedimentation in a semi-arid zone reservoir in Australia determined by 137 Cs

Sediment has accumulated behind a masonry dam built in the 1880s in the Barrier Range, north - west of Broken Hill, New South Wales, Australia. The contributing catchment has an area of 12.5 ha, and is used for rangeland grazing for sheep and goats. It is estimated from surveys and measurements of heavy metals and caesium-137 that over 1000 tonnes of sediment have accumulated in the reservoir since its inception. Approximately one-third of the sediment has been delivered since the mid-1950s. Sediment accumulation is equivalent to a catchment erosion rate of 0.78 t ha-1 y-1 prior to the mid-1950s, whereas from the mid-1950s to the present it is 0.59 t ha-1 y-1. This indicates that the trap efficiency of the reservoir has decreased and/or the sediment supply has become relative ly exhausted and/or there has been a progressive increase in vegetation cover related to reduced grazing pressures. The estimated rates of erosion are considerably lower than for other sites in semi-arid New South Wales probably because sediment has been transported in overflows of the damwall

Direct observation of magnetization dynamics generated by nano-contact spin-torque vortex oscillators

Time-resolved scanning Kerr microscopy has been used to directly image the magnetization dynamics of nano-contact (NC) spin-torque vortex oscillators (STVOs) when phase-locked to an injected microwave (RF) current. The Kerr images reveal free layer magnetization dynamics that extend outside the NC footprint, where they cannot be detected electrically, but which are crucial to phase-lock STVOs that share common magnetic layers. For a single NC, dynamics were observed not only when the STVO frequency was fully locked to that of the RF current, but also for a partially locked state characterized by periodic changes in the core trajectory at the RF frequency. For a pair of NCs, images reveal the spatial character of dynamics that electrical measurements show to have enhanced amplitude and reduced linewidth. Insight gained from these images may improve understanding of the conditions required for mutual phase-locking of multiple STVOs, and hence enhanced microwave power emission.Comment: 10 pages, 3 figure

Overreaction to growth opportunities: an explanation of the asset growth anomaly

The negative relation between asset growth and subsequent stock returns is known as the asset growth anomaly. We propose that overreaction to growth opportunities is the source of the asset growth anomaly. This suggests that growth firms as opposed to mature firms, and firms with longer series of asset growth should experience a stronger asset growth anomaly. Our evidence supports these predictions

Multiple myeloma presenting as CEA-producing rectal cancer

We report the case of a 57-year-old patient with multiple myeloma, characterized by extramedullary involvement of the rectum at presentation. Malignant plasma cells were found to produce carcinoembryonic antigen (CEA), a tumor antigen more commonly associated with rectal adenocarcinomas

Avoidance of reporter assay distortions from fused dual reporters

Positioning test sequences between fused reporters permits monitoring of both translation levels and framing, before and after the test sequence. Many studies, including those on recoding such as productive ribosomal frameshifting and stop codon readthrough, use distinguishable luciferases or fluorescent proteins, as reporters. Occasional distortions, due to test sequence product interference with the individual reporter activities or stabilities, are here shown to be avoidable by the introduction of tandem StopGo sequences (2A) flanking the test sequence. Using this new vector system (pSGDluc), we provide evidence for the use of a 3’ stem loop stimulator for $\textit{ACP2}$ readthrough, but failed to detect the reported $\textit{VEGFA}$ readthrough.This work was supported by grants from Science Foundation Ireland (12/IP/1492 and 13/1A/1853 to J.F.A.), National Institutes of Health (R01GM114291 and R21ES022716 to M.T.H.), Wellcome Trust (106207 to A.E.F.) and the European Research Council (646891 to A.E.F.)

Strategic distortions in analyst forecasts in the presence of short-term institutional investors

We document that analysts cater to short - term investors by issuing optimistic target prices. Catering dominates among analysts at brokers without an investment banking arm as they face lower reputational cost. The market does not see through the analyst catering activity and their forecasts lead to temporary stock overpricing that short - term institutional investors exploit to offload their holdings to retail traders. We also report evidence consistent with catering brokers being rewarded with more future trades channelled through them. Our study identifies a new source of conflicts of interest in analyst research originating from the ownership composition of a stock

A Case-by-Case Evolutionary Analysis of Four Imprinted Retrogenes

Retroposition is a widespread phenomenon resulting in the generation of new genes that are initially related to a parent gene via very high coding sequence similarity. We examine the evolutionary fate of four retrogenes generated by such an event; mouse Inpp5f_v2, Mcts2, Nap1l5, and U2af1-rs1. These genes are all subject to the epigenetic phenomenon of parental imprinting. We first provide new data on the age of these retrogene insertions. Using codon-based models of sequence evolution, we show these retrogenes have diverse evolutionary trajectories, including divergence from the parent coding sequence under positive selection pressure, purifying selection pressure maintaining parent-retrogene similarity, and neutral evolution. Examination of the expression pattern of retrogenes shows an atypical, broad pattern across multiple tissues. Protein 3D structure modeling reveals that a positively selected residue in U2af1-rs1, not shared by its parent, may influence protein conformation. Our case-by-case analysis of the evolution of four imprinted retrogenes reveals that this interesting class of imprinted genes, while similar in regulation and sequence characteristics, follow very varied evolutionary paths

The price of rapid exit in venture capital-backed IPOs

This paper proposes an explanation for two empirical puzzles surrounding initial public offerings (IPOs). Firstly, it is well documented that IPO underpricing increases during “hot issue” periods. Secondly, venture capital (VC) backed IPOs are less underpriced than non-venture capital backed IPOs during normal periods of activity, but the reverse is true during hot issue periods: VC backed IPOs are more underpriced than non-VC backed ones. This paper shows that when IPOs are driven by the initial investor’s desire to exit from an existing investment in order to finance a new venture, both the value of the new venture and the value of the existing firm to be sold in the IPO drive the investor’s choice of price and fraction of shares sold in the IPO. When this is the case, the availability of attractive new ventures increases equilibrium underpricing, which is what we observe during hot issue periods. Moreover, I show that underpricing is affected by the severity of the moral hazard problem between an investor and the firm’s manager. In the presence of a moral hazard problem the degree of equilibrium underpricing is more sensitive to changes in the value of the new venture. This can explain why venture capitalists, who often finance firms with more severe moral hazard problems, underprice IPOs less in normal periods, but underprice more strongly during hot issue periods. Further empirical implications relating the fraction of shares sold and the degree of underpricing are presented