Investor Sentiment in Japanese and U.S. Daily Mutual Fund Flows

We find evidence that is consistent with the hypothesis that daily mutual fund flows may be instruments for investor sentiment about the stock market. We use this finding to construct a new index of investor sentiment, and validate this index using data from both the United States and Japan. In both markets exposure to this factor is priced, and in the Japanese case, we document evidence of negative correlations between Bull' and Bear' domestic funds. The flows to bear foreign funds in Japan display some evidence of negative correlation to domestic and foreign equity funds, suggesting that there is a foreign vs. domestic sentiment factor in Japan that does not appear in the contemporaneous U.S. data. By contrast, U.S. mutual fund investors appear to regard domestic and foreign equity mutual funds as economic substitutes.

Investor Sentiment in Japanese and U.S. Daily Mutual Fund Flows

We find evidence that is consistent with the hypothesis that daily mutual fund flows may be instruments for investor sentiment about the stock market. We use this finding to construct a new index of investor sentiment, and validate this index using data from both the United States and Japan. In both markets exposure to this factor is priced, and in the Japanese case, we document evidence of negative correlations between “Bull” and “Bear” domestic funds. The flows to bear foreign funds in Japan display some evidence of negative correlation to domestic and foreign equity funds, suggesting that there is a foreign vs. domestic sentiment factor in Japan that does not appear in the contemporaneous U.S. data. By contrast, U.S. mutual fund investors appear to regard domestic and foreign equity mutual funds as economic substitutes

Electromagnetic gyrokinetic simulation of turbulence in torus plasmas

Gyrokinetic simulations of electromagnetic turbulence in magnetically confined torus plasmas including tokamak and heliotron/stellarator are reviewed. Numerical simulation of turbulence in finite beta plasmas is an important task for predicting the performance of fusion reactors and a great challenge in computational science due to multiple spatio-temporal scales related to electromagnetic ion and electron dynamics. The simulation becomes further challenging in non-axisymmetric plasmas. In finite beta plasmas, magnetic perturbation appears and influences some key mechanisms of turbulent transport, which include linear instability and zonal flow production. Linear analysis shows that the ion-temperature gradient (ITG) instability, which is essentially an electrostatic instability, is unstable at low beta and its growth rate is reduced by magnetic field line bending at finite beta. On the other hand, the kinetic ballooning mode (KBM), which is an electromagnetic instability, is destabilized at high beta. In addition, trapped electron modes (TEMs), electron temperature gradient (ETG) modes, and micro-tearing modes (MTMs) can be destabilized. These instabilities are classified into two categories: ballooning parity and tearing parity modes. These parities are mixed by nonlinear interactions, so that, for instance, the ITG mode excites tearing parity modes. In the nonlinear evolution, the zonal flow shear acts to regulate the ITG driven turbulence at low beta. On the other hand, at finite beta, interplay between the turbulence and zonal flows becomes complicated because the production of zonal flow is influenced by the finite beta effects. When the zonal flows are too weak, turbulence continues to grow beyond a physically relevant level of saturation in finite-beta tokamaks. Nonlinear mode coupling to stable modes can play a role in the saturation of finite beta ITG mode and KBM. Since there is a quadratic conserved quantity, evaluating nonlinear transfer of the conserved quantity from unstable modes to stable modes is useful for understanding the saturation mechanism of turbulence

Intra-Abdominal Bleeding during Pregnancy, Preterm Delivery, and Placental Polyp in a Long-Term Survivor of Neuroblastoma: A Case Report

Background. There are few reports of pregnancies in long-term survivors of pelvic neuroblastoma. Case. A 30-year-old Japanese woman with a history of pelvic neuroblastoma in her childhood, which was treated with surgical resection, chemotherapy, and radiation. Her pregnancy continued with conservative management, but she delivered a 510 g female infant at 23 weeks of gestation due to sudden onset of labor pain. She also had a placental polyp and developed massive postpartum bleeding. Conclusion. Cancer treatment, especially radiation therapy, in childhood may cause adverse outcomes during pregnancy in long-term survivors of neuroblastoma

Relationships between the Prediction of Linear MHD Stability Criteria and the Experiment in LHD

We analyze the relationship between the experimentally observed pressure gradients at resonant rational surfaces and the theoretically predicted ideal magnetohydrodynamics (MHD) unstable region of global modes in the large helical device (LHD). According to the stability analysis of the ideal MHD modes with a low toroidal mode number, we find that the ideal MHD mode gives a constraint on the operational regime of the pressure gradients in the core. In the edge, a clear saturation of the pressure gradients due to the ideal MHD instability has not been observed up to the high beta regime around 3% as the volume-averaged toridal beta value, where global ideal MHD modes are predictedto be unstable

Predictors of Hypotension after Adrenalectomy for Pheochromocytoma

The management of blood pressure is a significant concern for surgeons and anesthesiologists performing adrenalectomy for pheochromocytoma. We evaluated clinical factors in pheochromocytoma patients to identify the predictors of postoperative hypotension. The medical records of patients who underwent adrenalectomy for pheochromocytoma between 2001 and 2017 were retrospectively reviewed and clinical and biochemical data were evaluated. Of 29 patients, 13 patients needed catecholamine support in the perisurgical period while 16 patients did not. There were significant differences in median age, tumor size, and blood pressure drop (maxmin) between the 2 groups (68 vs 53 years old, p=0.045; 50 vs 32 mm diameter, p=0.022; 110 vs 71 mmHg, p=0.015 respectively). In univariate logistic analysis, age > 65.5 years, tumor size > 34.5 mm, urine metanephrine > 0.205 mg/day and urine normetanephrine > 0.665 mg/day were significant predictors of prolonged hypotension requiring postoperative catecholamine support. Tumor size and urine metanephrine and urine normetanephrine levels were correlated with postoperative hypotension. These predictors may help in the safe perioperative management of pheochromocytoma patients treated with adrenalectomy