Währungsabsicherung bei Immobilienaktien außerhalb des Euroraums

Währungsschwankungen sind ein zusätzliches Risiko für Immobilieninvestitionen außerhalb des Europäischen Währungsraums. Grund hierfür ist, dass die Risiken aus Fremdwährungsanlagen in der Regel nicht durch den Markt entschädigt werden. Das macht ausländische Immobilienanlagen grundsätzlich weniger attraktiv. Die gewünschten Diversifikationseffekte globaler Immobilienanlagen können in diesem Fall durch Wechselkursrisiken überlagert und können infolgedessen zu verzerrten Entscheidungen hinsichtlich der Vermögensallokation führen. Der vorliegende Beitrag hat zum Ziel, die Abhängigkeit der Diversifikationseffekte von Immobilienanlagen durch die Absicherung des Fremdwährungsrisikos für den europäischen Investor aufzuzeigen. In Einklang mit den Erkenntnissen der empirischen Forschung reduziert die Berücksichtigung von Terminkontrakten das systematische Fremdwährungsrisiko. Das Ergebnis des Spanning-Tests deutet aus Euro-Sicht auf starke Diversifikationseffekte für internationale Immobilienanlagen durch die Einführung von Terminkontrakten hin. Zusammengefasst sind die Diversifikationseffekte von Immobilienanlagen maßgeblich davon abhängig, ob das Fremdwährungsrisiko abgesichert wird oder nicht. Exchange rate movements lead to an additional risk for real estate investments outside the Eurozone. This can be attributed to the fact that the risks of foreign currencies are generally not compensated by the market. In this case, the desired diversification effects of global real estate investments are offset by exchange rate volatility and can therefore lead to unfavorable asset allocation decisions. This paper examines the benefits of currency hedging for risk minimization motives, from a euro investor’s perspective. Spanning tests allow us to examine the performances of globally diversified real estate portfolios in an already well diversified portfolio. In line with previous empirical evidence, the inclusion of forward contracts reduces currency movements. The findings of the spanning test for euro investor display strong diversification effects for global real estate investments with hedged positions. Taken together, the diversification effects of real estate investments are largely dependent on whether the currency risk is hedged or not

Efficacy of coping mechanisms used during COVID-19 as reported by parents of children with autism

The COVID-19 pandemic’s alterations to daily life have been especially challenging for families with Autism Spectrum Disorder (ASD), worsening the core features of ASD and overall mental health. With the increased need for effective coping, the current retrospective study used data from a survey regarding parent reports of how often their child with ASD used certain coping strategies (frequency), as well as the extent to which they felt their child benefitted from their use (efficacy) in mitigating stress during the pandemic. This retrospective study Repeated measures ANOVAs were conducted to evaluate whether there were significant differences in both frequency and efficacy ratings for each coping strategy, for the entire sample as well as for three children’s age groups. Using Spearman’s rank-order correlations, correlation coefficients between the frequency and efficacy of each coping strategy were explored. Results revealed that maladaptive strategies were used more frequently than adaptive strategies, while parent routine as the most frequently used and efficacious for all age groups. Additionally, for adaptive strategies, humor and focusing on the positive had the strongest correlations between frequency and efficacy ratings amongst all age groups. Of the maladaptive strategies, repetitive behaviors, rumination, and isolation had the strongest correlations for the youngest, middle, and oldest age groups, respectively. Further, for each age group, the adaptive coping strategies had stronger correlations between frequency and efficacy than the maladaptive ones. It is our hope that the results of this study will lay the foundation for developing adaptive coping strategies to alleviate stress in children with ASD. Further investigations using a larger cohort are warranted to determine effective coping strategies for individuals with ASD across a range of situations, including acute stressors (such as future public health emergencies and natural disasters), as well as common daily stressors

Muscular cystic hydatidosis: case report

BACKGROUND: Hydatidosis is a zoonosis caused by Echinococcus granulosus, and ingesting eggs released through the faeces from infected dogs infects humans. The location of the hydatid cysts is mostly hepatic and/or pulmonary, whereas musculoskeletal hydatidosis is very rare. CASE PRESENTATION: We report an unusual case of primary muscular hydatidosis in proximity of the big adductor in a young Sicilian man. The patient, 34 years old, was admitted to the Department of Infectious and Tropical Diseases for ultrasonographic detection, with successive confirmation by magnetic resonance imaging, of an ovular mass (13 × 8 cm) in the big adductor of the left thigh, cyst-like, and containing several small cystic formations. Serological tests for hydatidosis gave negative results. A second drawing of blood was done 10 days after the first one and showed an increase in the antibody titer for hydatidosis. The patient was submitted to surgical excision of the lesion with perioperatory prophylaxis with albendazole. The histopathological examination of the bioptic material was not diriment in the diagnosis, therefore further tests were performed: additional serological tests for hydatidosis for the evaluation of IgE and IgG serotype (Western Blot and REAST), and molecular analysis of the excised material. These more specific serological tests gave positive results for hydatidosis, and the sequencing of the polymerase chain reaction products from the cyst evidenced E. granulosus DNA, genotype G1. Any post-surgery complications was observed during 6 following months. CONCLUSION: Cystic hydatidosis should always be considered in the differential diagnosis of any cystic mass, regardless of its location, also in epidemiological contests less suggestive of the disease. The diagnosis should be achieved by taking into consideration the clinical aspects, the epidemiology of the disease, the imaging and immunological tests but, as demonstrated in this case, without neglecting the numerous possibilities offered by new serological devices and modern day molecular biology techniques

Gabapentin for the hemodynamic response to intubation: systematic review and meta-analysis

Purpose Endotracheal intubation is the gold standard for securing the airway before surgery. Nevertheless, this procedure can produce an activation of the sympathetic nervous system and result in a hemodynamic response which, in high-risk patients, may lead to cardiovascular instability and myocardial ischemia. The aim of this review was to evaluate whether gabapentin can attenuate this response and whether such an attenuation could translate into reduced myocardial ischemia and mortality. Source We searched MEDLINE®, EMBASE™, CINAHL, AMED, and unpublished clinical trial databases for randomized-controlled trials that compared gabapentin with control, fentanyl, clonidine, or beta blockers for attenuating the hemodynamic response to intubation. Primary outcomes were mortality, myocardial infarction, and myocardial ischemia. Secondary outcomes were hemodynamic changes following intubation. Principal findings We included 29 randomized trials with only two studies at low risk of bias. No data were provided for the primary outcomes and no studies included high-risk patients. The use of gabapentin resulted in attenuation in the rise in mean arterial blood pressure [mean difference (MD), −12 mmHg; 95% confidence interval (CI), −17 to −8] and heart rate (MD, −8 beats·min−1; 95% CI, −11 to −5) one minute after intubation. Gabapentin also reduced the risk of hypertension or tachycardia requiring treatment (risk ratio, 0.15; 95% CI, 0.05 to 0.48). Data were limited on adverse hemodynamic events such as bradycardia and hypotension. Conclusion It remains unknown whether gabapentin improves clinically relevant outcomes such as death and myocardial infarction since studies failed to report on these. Nevertheless, gabapentin attenuated increases in heart rate and blood pressure following intubation when compared with the control group. Even so, the studies included in this review were at potential risk of bias. Moreover, they did not include high-risk patients or report adverse hemodynamic outcomes. Future studies are required to address these limitations

Epidemiology of intra-abdominal infection and sepsis in critically ill patients: “AbSeS”, a multinational observational cohort study and ESICM Trials Group Project

Purpose: To describe the epidemiology of intra-abdominal infection in an international cohort of ICU patients according to a new system that classifies cases according to setting of infection acquisition (community-acquired, early onset hospital-acquired, and late-onset hospital-acquired), anatomical disruption (absent or present with localized or diffuse peritonitis), and severity of disease expression (infection, sepsis, and septic shock). Methods: We performed a multicenter (n = 309), observational, epidemiological study including adult ICU patients diagnosed with intra-abdominal infection. Risk factors for mortality were assessed by logistic regression analysis. Results: The cohort included 2621 patients. Setting of infection acquisition was community-acquired in 31.6%, early onset hospital-acquired in 25%, and late-onset hospital-acquired in 43.4% of patients. Overall prevalence of antimicrobial resistance was 26.3% and difficult-to-treat resistant Gram-negative bacteria 4.3%, with great variation according to geographic region. No difference in prevalence of antimicrobial resistance was observed according to setting of infection acquisition. Overall mortality was 29.1%. Independent risk factors for mortality included late-onset hospital-acquired infection, diffuse peritonitis, sepsis, septic shock, older age, malnutrition, liver failure, congestive heart failure, antimicrobial resistance (either methicillin-resistant Staphylococcus aureus, vancomycin-resistant enterococci, extended-spectrum beta-lactamase-producing Gram-negative bacteria, or carbapenem-resistant Gram-negative bacteria) and source control failure evidenced by either the need for surgical revision or persistent inflammation. Conclusion: This multinational, heterogeneous cohort of ICU patients with intra-abdominal infection revealed that setting of infection acquisition, anatomical disruption, and severity of disease expression are disease-specific phenotypic characteristics associated with outcome, irrespective of the type of infection. Antimicrobial resistance is equally common in community-acquired as in hospital-acquired infection

Erratum to: 36th International Symposium on Intensive Care and Emergency Medicine

[This corrects the article DOI: 10.1186/s13054-016-1208-6.]

The watershed between right and left hepatic artery territories: Findings on CT scans after transcatheter oily chemoembolization of hepatic tumors. A preliminary report [La ligne de demarcation entre les territoires des rameaux arteriels hepatiques droit et gauche : constatations scanographiques apres chimio-embolisation lipiodolee par catheterisme de tumeurs hepatiques. Etude preliminaire]

PubMed ID: 9894317The goals of this study were to delineate the boundary between the right and left hepatic artery territories by computed tomography (CT), to compare this boundary with the middle scissura of Couinaud's segmental anatomy, and to discuss the clinical implications of these findings. The 18 patients who underwent transcatheter oily chemoembolization (TOCE) of liver tumors via the right or left hepatic artery, were examined with an immediate postembolization CT scan. We measured the orientation of the watershed line between the right and left hepatic artery territories and the orientation of the middle scissura on other available sectional imaging modalities, and then compared the middle scissura with the arterial watershed line. A part of segment IV was fed by the right hepatic artery in two of 18 (11.1%) patients. Moreover, one of 4 segment IV lesions was embolized via right hepatic artery infusion. Thus, in 11.1% of cases there was no coincidence between the arterial watershed line and the middle scissura. Some segment IV lesions may be fed and therefore embolized only via right hepatic artery infusion in TOCE for liver tumor