Risk adjusted asset valuation using a probabilistic approach with optimized asking rents and resale timing options

Thesis (S.M. in Real Estate Development)--Massachusetts Institute of Technology, Program in Real Estate Development in Conjunction with the Center for Real Estate, 2013.Cataloged from PDF version of thesis.The model developed here provides an enhancement of the traditional DCF asset acquisition valuation template, in Excel. It provides a relatively transparent and user-friendly yet flexible risk-adjusted valuation of a subject individual acquisition, structured to consider the asset either as a core asset or a value-add asset. This study applies a basic stock flow model of space market dynamics to address the question of covariance among input variables. The model is designed with optional probabilistic inputs and historical data for the local space market (employment, rents, net rentable area, occupied space, new completions, vacancy and absorption) and the asset market (cap rates history) to produce a 15-year forecast for the relevant space and asset market for the subject property. An optional optimal rent module in the model uses the forecasted cap rates and consequent opportunity cost of capital to arrive at optimal asking rents for the subject property. The existing rent roll is combined with the future rents and vacancies along with asset level projections of operating costs and capital expenditures to arrive at the cash flow projections. Renewal probability and probability to lease up are major differentiating factors between the core and value add asset. The model also enables the user to optionally consider how flexibility in resale timing can improve the overall return performance from a probabilistic perspective. The output of the model includes an apprehension of the entire going-in risk return relationship, depicted relative to a relevant security market line generated by the input risk free interest rate and the opportunity cost of capital in the relevant asset market. Key words: Probabilistic, risk adjusted valuation, forecast, optimal rent, flexibility, renewal probability, probability to lease up.by Sarwesh Paradkar.S.M.in Real Estate Developmen

A REPORT ON QUANTUM COMPUTING

Today's computers work on bits that exist as either 0 or 1. Quantum computers aren't limited to two states; they encode information as quantum bits, or qubits, which can exist in superposition. Qubits represent atoms, ions, photons or electrons and their respective control devices that are working together to act as computer memory and a processor. Because a quantum computer can contain these multiple states simultaneously, it has the potential to be millions of times more powerful than today's most powerful supercomputers. A processor that can use registers of qubits will be able to perform calculations using all the possible values of the input registers simultaneously. This superposition causes a phenomenon called quantum parallelism, and is the motivating force behind the research being carried out in quantum computing. Due to technical obstacles, till date, a quantum computer has not yet been realized. But the concepts and ideas of quantum computing has been demonstrated using various methods like NMR, Ion Trap, Quantum Dot, Optical Methods, etc. A quantum computer manipulates qubits by executing a series of quantum gates, each a unitary transformation acting on a single qubit or pair of qubits.  In applying these gates in succession, a quantum computer can perform a complicated unitary transformation to a set of qubits in some initial state.  The qubits can then be measured, with this measurement serving as the final computational result.  Research must devise a way to maintain decoherence and other potential sources of error at an acceptable level. Probably the most important idea in this field is the application of error correction in phase coherence as a means to extract information and reduce error in a quantum system without actually measuring that system. Thereby, quantum computers will emerge as the superior computational devices and perhaps one day make today's modern computer obsolete

ROLE OF MODERN DIAGNOSTIC METHODS IN AYURVEDIC DIAGNOSIS: CONCEPTS & PROSPECTS

Diagnosis is a very vital aspect of Ayurvedic treatment. Diagnosis according to Ayurveda is to find out root cause of disease. Unless the proper diagnosis is done, it is difficult to provide medicine & cure the disease. To give permanent relief, the root cause has to be removed. The causative factors can be the food, life style or some external factors like bacteria, viruses, epidemiology etc. In Ayurveda the diagnosis and treatment of disease is always individual to each patient. As Ayurveda treats according to the constitution of an individual (Prakriti), it is known as highly accurate and personalized method of analyzing diseases. All disease are caused by aggravation & imbalance of ‘ Tridosha’ i.e., Vata, Pitta, Kapha. The Tridosha aggravation may occur due to the intake of improper diet, life style & Mandagni which need to be diagnosed properly by Ayurvedic method for best result. In the beginning most of the student & practitioners find that it is very difficult to diagnose a disease on the basis of Ayurvedic principles. It has need of knowledge, examination skill, logical thinking and continuous practice. Modern medical practices will often pacify the symptoms without addressing the cause. But in diagnostic point of view modern tools like CT scan, MRI, Haemogram, ECG, 2D Echo etc. are very useful in critical condition. This article discusses about some diagnostic approaches of Ayurveda as tool for Nidan as well as role of modern diagnostic method over Ayurvedic nidan

Controlled release floating multiparticulates of metoprolol succinate by hot melt extrusion

YesWe present hot melt extrusion (HME) for the design of floating multiparticulates. Metoprolol succinate was selected as the model drug. Our foremost objective was to optimize the components Eudragit® RS PO, polyethylene oxide (PEO) and hydroxypropyl methylcellulose (HPMC) to balance both buoyancy and controlled release. Gas generated by sodium bicarbonate in acidic medium was trapped in the polymer matrix to enable floating. Eudragit® RS PO and PEO with sodium bicarbonate resulted in multiparticulates which exhibited rapid flotation within 3 minutes but inadequate total floating time (TFT) of 3 hours. Addition of HPMC to the matrix did not affect floating lag time (FLT), moreover TFT increased to more than 12 hours with controlled release of metoprolol succinate. Floating multiparticulates exhibited t50% of 5.24 hours and t90% of 10.12 hours. XRD and DSC analysis revealed crystalline state of drug while FTIR suggested nonexistence of chemical interaction between the drug and the other excipients. The assay, FLT, TFT and the drug release of the multiparticulates were unchanged when stored at 40 °C/75%RH for 3 months confirming stability. We present floating multiparticulates by HME which could be extrapolated to a range of other drugs. Our approach hence presents platform technology for floating multiparticulates

Polymorphs of Curcumin and Its Cocrystals With Cinnamic Acid

YesWe report formation of polymorphs and new eutectics and cocrystals of curcumin, a sparingly water-soluble active component in turmeric, structurally similar to cinnamic acid. The curcumin polymorphs were formed using liquid antisolvent precipitation, where acetone acted as a solvent and water was used as the antisolvent. The metastable form 2 of curcumin was successfully prepared in varied morphology over a wide range of solvent-to-antisolvent ratio and under acidic pH conditions. We also report formation of new eutectics and cocrystals of curcumin with cinnamic acid acting as a coformer. The binary phase diagrams were studied using differential scanning calorimetry and predicted formation of the eutectics at the curcumin mole fraction of 0.15 and 0.33, whereas a cocrystal was formed at 0.3 mole fraction of curcumin in the curcumin–cinnamic acid mixture. The formation of the cocrystal was supported with X-ray powder diffraction, the enthalpy of fusion values, Fourier-transform infrared spectroscopy, and scanning electron microscopy. The hydrogen bond interaction between curcumin and cinnamic acid was predicted from Fourier-transform infrared spectra, individually optimized curcumin and cinnamic acid structures by quantum mechanical calculations using Gaussian-09 and their respective unit cell packing structures

Priprava i evaluacija plutajućih matriksa rizedronat natrija Gelucire® 39/01

Incorporation of bisphosphonates in the lipid reduces gastric irritation. Only gastric retention with sustained release allows the drug to reach the duodenum and jejunum and improves the availability of bisphosphonates. Risedronate sodium and Gelucire® 39/01 floating matrices were prepared using melt solidification. The sustained release floating matrices were evaluated for in vitro and in vivo floating ability and in vitro drug release. Ageing of the matrices was studied by differential scanning calorimetry, hot stage polarizing microscopy, scanning electron microscopy and in vitro drug release. Ageing causes changes in the crystal structure of the Gelucire®, which is responsible for increase in drug release.Uklapanje bisfosfonata u lipide smanjuje iritaciju želuca. Samo zadržavanje u želucu s usporenim oslobađanjem omogućava da ljekovita tvar dospije u duodenum i jejunum i povećava bioraspoloživost bisfosfonata. Rizedronat natrij i Gelucire® 39/01 plutajući matriksi pripravljeni su metodom taljenja i očvršćivanja. Proučavana je sposobnost plutanja pripremljenih matriksa in vitro i in vivo te oslobađanje ljekovite tvari. Starenje matriksa proučavano je diferencijalnom pretražnom kalorimetrijom, polarizirajućom mikroskopijom s vrućom pločom i pretražnom elektronskom mikroskopijom. Starenje uzrokuje promjene u kristalnoj strukturi Gelucire® zbog kojih se povećava oslobađanje ljekovite tvari

Socio-demographic profile of copper-T beneficiaries in the family planning out-patient department of a teaching hospital: a record-based descriptive study

Background: Intra uterine contraceptive devices (IUCD) used as a spacing method is one of the main strategies of the family welfare programme, as they are among the safest and most effective, affordable and convenient reversible contraceptives available. The objectives of the study were to study the socio-demographic details of beneficiaries accepting Cu-T in the family planning OPD of the medical college, relation of IUCD insertion time with respect to menses or delivery and its outcome.Methods: After IEC approval, a descriptive, complete enumeration study of recorded data from IUD register from 2006 to 2015 (n=1141) was carried out from the IUCD registers of the family planning out-patient department (OPD) of a medical college.Results: Beneficiaries had a significantly lower literacy rate (p<0.05) and a lower employment rate (p<0.01) than their husbands. 447 (39.4%) women accepted IUCD before 1 year from their last delivery. In 20 women, IUCDs were expelled, while in 32 (2.8%), they were wasted. The difference between the couples having no male children and those having at least 1 male child opting for IUCD was statistically highly significant (p<0.01).Conclusions: Cu-T is being well utilised as a spacing method in the Family Welfare Component of the Reproductive and Child Health Programme. Evidence of Preference for a male child can be seen in this study

Priprava i evaluacija plutajućih matriksa rizedronat natrija Gelucire® 39/01

Incorporation of bisphosphonates in the lipid reduces gastric irritation. Only gastric retention with sustained release allows the drug to reach the duodenum and jejunum and improves the availability of bisphosphonates. Risedronate sodium and Gelucire® 39/01 floating matrices were prepared using melt solidification. The sustained release floating matrices were evaluated for in vitro and in vivo floating ability and in vitro drug release. Ageing of the matrices was studied by differential scanning calorimetry, hot stage polarizing microscopy, scanning electron microscopy and in vitro drug release. Ageing causes changes in the crystal structure of the Gelucire®, which is responsible for increase in drug release.Uklapanje bisfosfonata u lipide smanjuje iritaciju želuca. Samo zadržavanje u želucu s usporenim oslobađanjem omogućava da ljekovita tvar dospije u duodenum i jejunum i povećava bioraspoloživost bisfosfonata. Rizedronat natrij i Gelucire® 39/01 plutajući matriksi pripravljeni su metodom taljenja i očvršćivanja. Proučavana je sposobnost plutanja pripremljenih matriksa in vitro i in vivo te oslobađanje ljekovite tvari. Starenje matriksa proučavano je diferencijalnom pretražnom kalorimetrijom, polarizirajućom mikroskopijom s vrućom pločom i pretražnom elektronskom mikroskopijom. Starenje uzrokuje promjene u kristalnoj strukturi Gelucire® zbog kojih se povećava oslobađanje ljekovite tvari

Comparative antioxidant potential of Withania somnifera based herbal formulation prepared by traditional and non-traditional fermentation processes

AbstractBackgroundAshwagandharishtha is a liquid polyherbal formulation traditionally prepared by fermentation process using the flowers of Woodfordia fruticosa. It contains roots of Withania somnifera as a major crude drug. Alcohol generated during the fermentation causes the extraction of water insoluble phytoconstituents. Yeasts present on the flowers are responsible for this fermentation.MethodsTotal nine formulations of ashwagandharishtha were prepared by fermentation process using traditional Woodfordia fruticosa flowers (ASG-WFS) and using yeasts isolated from the same flowers. During fermentation, kinetic of alcohol generation, sugar consumption, changes in pH and withanolides extraction were studied. All the formulations were tested for in vitro antioxidant potential by 1,1-diphenyl-2-picryl-hydrazyl (DPPH) free radical scavenging, hydrogen peroxide scavenging and total reducing power assay. The results were compared with standard ascorbic acid.ResultsTraditional formulation (ASG-WFS) showed the highest activity (p < 0.001) relative to other formulations and standard ascorbic acid. ASG-WFS showed significant (DPPH) free radical scavenging (78.75%) and hydrogen peroxide scavenging (69.62%) at the concentration of 1000μg/mL and 100μg/mL, respectively.ConclusionTraditional process is the best process for preparing ashwagandharishtha to obtain significant antioxidant activity

Differentiation of Recurrent Glioblastoma Multiforme and Radiation Necrosis using Magnetic Resonance Imaging and Computerized Approaches: A Review

Glioblastoma Multiforme (GBM) is a highly aggressive brain tumor originating from glial cells that is a subset of higher-grade gliomas (HGG). Given the extreme malignancy of GBM and HGG, radiotherapy is often used to shrink tumor and inhibit tumor cell function. Despite the use of radiotherapy, GBM recurrence rates remain high, and complications, such as radiation necrosis, can arise. Recurrent GBM and radiation necrosis are nearly indistinguishable using current imaging techniques, which is a considerable challenge in management of GBM treatment. Radiation necrosis is treated conservatively using corticosteroids while recurrent GBM requires aggressive treatments given its markedly short prognosis. Currently, invasive biopsy is the only available method for accurate differentiation of recurrent GBM from radiation necrosis. Clearly, noninvasive differentiation techniques are imperative to effective clinical decision-making surrounding GBM treatment. Many studies have attempted to use conventional MRI, advanced MRI parameters, modalities, and techniques, and machine learning methods to solve this crucial problem. In this review, we attempt to overview the difficulty of differential diagnosis and analyze the current state of knowledge on image-based differentiation approaches utilizing MRI. We identify major gaps in the research and make suggestions to improve current tactics and direct future investigations.</p