A Comprehensive Look at the Empirical Performance of Equity Premium Prediction

Given the historically high equity premium, is it now a good time to invest in the stock market? Economists have suggested a whole range of variables that investors could or should use to predict: dividend price ratios, dividend yields, earnings-price ratios, dividend payout ratios, net issuing ratios, book-market ratios, interest rates (in various guises), and consumption-based macroeconomic ratios (cay). The typical paper reports that the variable predicted well in an *in-sample* regression, implying forecasting ability. Our paper explores the *out-of-sample* performance of these variables, and finds that not a single one would have helped a real-world investor outpredicting the then-prevailing historical equity premium mean. Most would have outright hurt. Therefore, we find that, for all practical purposes, the equity premium has not been predictable, and any belief about whether the stock market is now too high or too low has to be based on theoretical prior, not on the empirically variables we have explored.

Amiens – Rue Gabriel-de-Mortillet

Cette opération de diagnostic fait suite à la prescription émise par le Service régional de l’archéologie sur un projet de construction résidentielle, afin de vérifier le potentiel archéologique de ce secteur. La maîtrise d’ouvrage de ce diagnostic a été confiée à l’Inrap. Les travaux envisagés par l’aménageur sont susceptibles d’affecter des vestiges archéologiques, un établissement gaulois et gallo-romain ayant été découvert à proximité. Par ailleurs, la construction d’un sous-sol implique ..

EVALUASI USABILITY PADA SISTEM INFORMASI PERMINTAAN PENGURUSAN SURAT MAHASISWA FMIPA UNRI MENGGUNAKAN METODE HEURISTIC EVALUATION

Sistem Informasi Permintaan Pengurusan Surat FMIPA UNRI merupakan permintaan pengurusan surat resmi yang diselenggarakan untuk mahasiswa yang ingin mengurus surat di Fakultas FMIPA di Universitas Riau. Sistem ini untuk mempermudah pelaksanaan permintaan pengurusan surat online, permintaan pengurusan surat FMIPA belum pernah dievaluasi yang berhubungan dengan Usability. Tujuan penelitian ini adalah untuk mengevaluasi Usability Permintaan surat FMIPA dan membuat rekomendasi perbaikan. Penelitian ini menggunakan metode Heuristic Evaluation dengan 10 variabel dan jumlah responden yang ditentukan dengan rumus Slovin sebanyak 100 orang. Sistem Penentuan responden pada penelitian ini menggunakan teknik Random Sampling. Berdasarkan hasil Evaluasi, 6 variabel mendapat kualifikasi kurang baik. Diantaranya, User Control and Freedom, Prevention Error System, Recognition Rather than Recall, Diagnose and Recover Froom Error, Aesthetic and Minimalist Design, Help and Documentation. Sedangkan 4 variabel lagi mendapat kualifikasi baik yaitu Visibility of System Status, Match Between System and Real World, Consistency and Standars, Flexibility and Efficiency of Use. Berdasarkan permasalahan Usability yang ada, hal ini harus dilakukan perbaikan sesuai dengan solusi dan dapat digunakan sebagai referensi bagi tim pengembang dalam meningkatkan Usability Sistem Informasi Permintaan Pengurusan Surat FMIPA

Myoferlin contributes to the metastatic phenotype of pancreatic cancer cells by enhancing their migratory capacity through the control of oxidative phosphorylation

Pancreatic ductal adenocarcinoma (PDAC) is one of the deadliest malignancies with an overall survival of 5%, and is the second cause of death by cancer, mainly linked to its high metastatic aggressiveness. Accordingly, understanding the mechanisms sustaining the PDAC metastatic phenotype remains a priority. In this study, we have generated and used a murine in vivo model to select clones from the human PANC-1 PDAC cell line that exhibit a high propensity to seed and metastasized into the liver. We showed that myoferlin, a protein previously reported to be overexpressed in PDAC, is significantly involved in the migratory abilities of the selected cells. We first report that highly PANC-1 metastatic clones expressed significantly higher myoferlin level than the corresponding low metastatic ones. Using scratch wound and Boyden’s chamber assays, we show that cells expressing high myoferlin level have higher migratory potential than cells characterized by a low myoferlin abundance. Moreover, we demonstrate that myoferlin silencing leads to a migration decrease associated to a reduction of mitochondrial respiration. Since mitochondrial oxidative phosphorylation has been shown to be implicated in the tumor progression and dissemination, our data identify myoferlin as a valid potential therapeutic target in PDAC

Cyclin B1 is essential for mitosis in mouse embryos, and its nuclear export sets the time for mitosis.

There is remarkable redundancy between the Cyclin-Cdk complexes that comprise the cell cycle machinery. None of the mammalian A-, D-, or E-type cyclins are required in development until implantation, and only Cdk1 is essential for early cell divisions. Cyclin B1 is essential for development, but whether it is required for cell division is contentious. Here, we used a novel imaging approach to analyze Cyclin B1-null embryos from fertilization onward. We show that Cyclin B1-/- embryos arrest in G2 phase after just two divisions. This is the earliest arrest of any Cyclin known and places Cyclin B1 with cdk1 as the essential regulators of the cell cycle. We reintroduced mutant proteins into this genetically null background to determine why Cyclin B1 is constantly exported from the nucleus. We found that Cyclin B1 must be exported from the nucleus for the cell to prevent premature entry to mitosis, and retaining Cyclin B1-Cdk1 at the plasma membrane precludes entry to mitosis

Nuclear Reprogramming: Kinetics of Cell Cycle and Metabolic Progression as Determinants of Success

Establishment of totipotency after somatic cell nuclear transfer (NT) requires not only reprogramming of gene expression, but also conversion of the cell cycle from quiescence to the precisely timed sequence of embryonic cleavage. Inadequate adaptation of the somatic nucleus to the embryonic cell cycle regime may lay the foundation for NT embryo failure and their reported lower cell counts. We combined bright field and fluorescence imaging of histone H2b-GFP expressing mouse embryos, to record cell divisions up to the blastocyst stage. This allowed us to quantitatively analyze cleavage kinetics of cloned embryos and revealed an extended and inconstant duration of the second and third cell cycles compared to fertilized controls generated by intracytoplasmic sperm injection (ICSI). Compared to fertilized embryos, slow and fast cleaving NT embryos presented similar rates of errors in M phase, but were considerably less tolerant to mitotic errors and underwent cleavage arrest. Although NT embryos vary substantially in their speed of cell cycle progression, transcriptome analysis did not detect systematic differences between fast and slow NT embryos. Profiling of amino acid turnover during pre-implantation development revealed that NT embryos consume lower amounts of amino acids, in particular arginine, than fertilized embryos until morula stage. An increased arginine supplementation enhanced development to blastocyst and increased embryo cell numbers. We conclude that a cell cycle delay, which is independent of pluripotency marker reactivation, and metabolic restraints reduce cell counts of NT embryos and impede their development

E-mail filter with attachment scanning prototype / Hema Losini Goval

The E-mail Filter is a mail client that retrieves mails from the Ms Outlook Express, which retrieves mails from POP3 server and categorizes them into different a category that has different level of priorities. Attachments in the incoming mails are scanned and sent to respective folders. These attachments will be stored in the personal computer for easy reference. Meanwhile, the automatic response system automatically replies the mails classified in the Appointments category using automatic response, which runs even when the e-mails are closed. The E-mail Filter with Attachment Scanning Prototype is a stand-alone system. It has a user-friendly concept and has an interesting and simple to understand user interface. It gives the user more options to manage the mails that flow into the account. The objective of the system is to save time and cost of the user. This is because user does not have to open all folders to see what are the important folders and does not have to reply to most of the appointments by going through the manual planner. It is all done by the mail client and updated automatically. This helps to create a paperless environment. The methodology used to develop this system is the 'V' Model and it will be developed using Micro oft Visual Basic 6.0, Ms Access 2000 on a Window 2000 platform which runs from Ms Outlook Express. This system will be of a great help to reduce the burden of checking and replying mail for professional staff such as lecturer

Peuplements néandertaliens dans le nord de la France

National audienceHow did Neandertals occupy their territories ? How did they organize their movements? These questions were addressed in numerous studies in recent years but remained unresolved for the northern part of France. During recent preventative excavations realized in the framework of large development projects, especially in the Somme Valley, around twenty sites attributable to the Weichselian (116,000 to 11,500 years ago) were discovered. They shed light on the strategies and choices of Neandertals in the management of their territory. In this study, Émilie Goval discusses the notion of territory itself in studies of Prehistory, and particularly during the late phase of the Middle Paleolithic. She then attempts to evaluate the contribution of new methodological tools in the approaches applied by archaeologists to the question of territory. Drawing on ethnographic and ethnoarchaeological examples, and thanks to advances in research on Prehistory, it is now possible, through a spatial approach to typo-technological data, to characterize a territory and analyze its components. The result is a new type of synthesis that enables a better understanding, identification, and thus characterization of the management of space by Neandertals.Comment les Néandertaliens occupaient-ils leurs territoires ? Comment organisaient-ils leurs déplacements ? Ces questions, qui ont fait l’objet de nombreux travaux ces dernières années, restaient sans réponse pour la partie nord de la France. Au cours de récentes fouilles préventives réalisées dans le cadre de grands travaux, en particulier dans la vallée de la Somme, une vingtaine de gisements attribuables au Weichsélien (- 116 000 à - 11 500 ans) ont été mis au jour. Ils permettent de lever le voile sur les démarches et les choix des Néandertaliens dans leur gestion du territoire. Dans la savante étude de ces découvertes, Émilie Goval évoque la notion de « territoire » pour la période de la Préhistoire, et plus particulièrement pour la phase récente du Paléolithique moyen. Elle tente ensuite d’évaluer l’intérêt de recourir à de nouveaux outils méthodologiques pour aborder la question du territoire. À l’aide d’exemples ethnographiques, ethnoarchéologiques et grâce à l’avancée des recherches en Préhistoire, il est désormais possible, en spatialisant les données issues de l’étude typo-technologique, de caractériser le territoire et d’analyser ses composantes.Une synthèse inédite, qui permet de comprendre, d’identifier et ainsi de qualifier la gestion de l’espace par les Néandertaliens