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Combined Modality Therapy with Selective Bladder Preservation for Muscle Invading Bladder Cancer (침윤성 방광암 환자에서 방광 보존 치료)

  • Youn Seon Min;Yang Kwang Mo;Lee Hyung Sik;Hur Won Joo;Oh Sin Geun;Lee Jong Cheol;Yoon Jin Han;Kwon Heon Young;Jung Kyung Woo;Jung Se Il
    • Radiation Oncology Journal
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    • v.19 no.3
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    • pp.237-244
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    • 2001
  • Purpose : To assess the tolerance, complete response rate, bladder preservation rate and survival rate in patients with muscle-invading bladder cancer treated with selective bladder preservation protocol. Method and Materials : From October 1990 to June 1998, twenty six patients with muscle-invading bladder cancer (clinical stage T2-4, N0-3, M0) were enrolled for the treatment protocol of bladder preservation. They were treated with maximal TURBT (transurethral resection of bladder tumor) and 2 cycles of MCV chemotherapy (methotrexate, crisplatin, and vinblastine) followed by $39.6\~45\;Gy$ pelvic irradiation with concomitant cisplatin. After complete urologic evaluation (biopsy or cytology), the patients who achieved complete response were planed for bladder preservation treatment and treated with consolidation cisplatin and radiotherapy (19.8 Gy). The patients who had incomplete response were planed to immediate radical cystectomy. If they refused radical cystectomy, they were treated either with TURBT followed by MCV or cisplatin chemotherapy and radiotherapy. The median follow-up duration is 49.5 months. Results : The Patients with stage T2-3a and T3b-4a underwent complete removal of tumor or gross tumor removal by TURBT, respectively. Twenty one out of 26 patients $(81\%)$ successfully completed the protocol of the planned chemo-radiotherapy. Seven patients had documented complete response. Six of them were treated with additional consolidation cisplatin and radiotherapy. One patient was treated with 2 cycles of MCV chemotherapy due to refusal of chemo-radiotherapy. Five of 7 complete responders had functioning tumor-free bladder. Fourteen patients of incomplete responders were further treated with one of the followings : radical cystectomy (1 patient), or TURBT and 2 cycles of MCV chemotherapy (3 patients), or cisplatin and radiotherapy (10 patients). Thirteen patients of them were not treated with planned radical cystectomy due to patients' refusal (9 patients) or underlying medical problems (4 patients). Among twenty one patients, 12 patients $(58\%)$ were alive with their preserved bladder, 8 patients died with the disease, 1 patient died of intercurrent disease. The 5 years actuarial survival rates according to CR and PR after MCV chemotherapy and cisplatin chemoradiotherapy were $80\%\;and\;14\%$, respectively (u=0.001). Conclusion : In selected patients with muscle-invading bladder cancer, the bladder preservation could be achieved by MCV chemotherapy and cisplatin chemo-radiotherapy. All patients tolerated well this bladder preservation protoco. The availability of complete TURBT and the responsibility of neoadjuvant chemotherapy and chemoradiotherapy were important predictors for bladder preservation and survival. The patients who had not achieved complete response after neoadjuvant chemotherapy and chemoradiotherapy should be immediate radical cystectomy. A randomized prospective trial might be essential to determine more accurate indications between cystectomy or bladder preservation.

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Treatment Results of Radical Radiotherapy in Uterine Cervix Cancer (자궁경부암 환자의 근치적 방사선치료성적)

  • Huh Seung Jae;Kim Bo Kyong;Lim Do Hoon;Shin Seong Soo;Lee Jeong Eun;Kang Min Kyu;Ahn Yong Chan
    • Radiation Oncology Journal
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    • v.20 no.3
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    • pp.237-245
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    • 2002
  • Purpose : This study was conducted to evaluate the treatment results, prognostic factors, and complication rates after high dose rate (HDR) brachytherapy in patients with uterine cervix cancer who were treated with curative aim. Materials and Methods : Of 269 cervix cancer patients treated at the department of radiation oncology, Samsung Medical Center from September 1994 to July 1998, the 106 who were treated with radical radio-therapy were analyzed. The median age was 61 years (range 22 to 89). All patients except 4 with carcinoma in situ (CIS) were given external beam radiotherapy (range $30.6\~50.4\;Gy$ to whole pelvis) and HDR brachytherapy. The common regimens of HDR brachytherapy were a total dose of $24\~28\;Gy$ with $6\~7$ fractions to point A at two fractions per week. The median overall treatment time was 55 days (range 44 to 104) in patients given both external beam radiotherapy and HDR brachytherapy. Results : Early responses of radiotherapy were evaluated by gynecologic examination and follow-up MRI 1 month after radiotherapy. Treatment responses were complete remission in 72 patients, partial response in 33 and no response in 1. The overall survival (OS) rate of all patients was $82\%,\;and\;73\%$, and the disease free survival (DFS) rate was $72\%,\;and\;69\%$, at 3, and 5 years, respectively. The pelvic control rate (PCR) was $79\%$ at both 3 and 5 years. According to the FIGO stage,3 and 5 year OS were $100\%\;and\;50\%$ in CIS/IA, $100\%\;and\;100%$ in IB, $83\%\;and\;69\%$ in IIA, $87\%\;and\;80\%$ in IIB, and $62\%\;and\;62\%$ in III, respectively. The 3 year OS in 4 patients with stage IVA was $100\%$. Three-year DFS were $80\%$ in CIS/IA, $88\%$ in IB, $100\%$ in IIA, $64\%$ in IIB, $58\%$ in III, and $75\%$ in IVA. Three-year PCR were $100\%$ in CIS/IA, $94\%$ in IB, $100\%$ in IIA, $84\%$ in IIB, $69\%$ in III, and $50\%$ in IVA. By univariate analysis, FIGO stage and treatment response were significant factors for OS. The significant factors for DFS were age, FIGO stage, treatment response and overall treatment time (OTT). For pelvic control rate, treatment response and OTT were significant factors. By multivariate analysis, FIGO stage had a borderline significance for OS (p=0.0825) and treatment response had a borderline significance for DFS (0=0.0872). A total of 14 patients $(13\%)$ experienced rectal bleeding, which occurred from 3 to 44 months (median, 13 months) after the completion of radiotherapy. Conclusion : HDR brachytherapy protocol of Samsung Medical Center combined with properly optimal external beam pelvic irradiation is a safe and effective treatment for patients with uterine cervix cancer. The authors found that OTT of less than 55 days had a positive impact on pelvic control and survival rate.

Purification Characteristics and Hydraulic Conditions in an Artificial Wetland System (인공습지시스템에서 수리학적 조건과 수질정화특성)

  • Park, Byeng-Hyen;Kim, Jae-Ok;Lee, Kwng-Sik;Joo, Gea-Jae;Lee, Sang-Joon;Nam, Gui-Sook
    • Korean Journal of Ecology and Environment
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    • v.35 no.4 s.100
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    • pp.285-294
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    • 2002
  • The purpose of this study was to evaluate the relationships between purification characteristics and hydraulic conditions, and to clarify the basic and essential factors required to be considered in the construction and management of artificial wetland system for the improvement of reservoir water quality. The artificial wetland system was composed of a pumping station and six sequential plants beds with five species of macrophytes: Oenanthe javanica, Acorus calamus, Zizania latifolia, Typha angustifolia, and Phragmites australis. The system was operated on free surface-flow system, and operation conditions were $3,444-4,156\; m^3/d$ of inflow rate, 0.5-2.0 hr of HRT, 0.1-0.2 m of water depth, 6.0-9.4 m/d of hydraulic loading, and relatively low nutrients concentration (0.224-2.462 mgN/L, 0.145-0.164 mgP/L) of inflow water. The mean purification efficiencies of TN ranged from 12.1% to 14.3% by showing the highest efficiency at the Phragmites australis bed, and these of TP were 6.3-9.5% by showing the similar ranges of efficiencies among all species. The mean purification efficiencies of SS and Chl-A ranged from 17.4% to 38.5% and from 12.0% to 20.2%, respectively, and the Oenanthe javanica bed showed the highest efficiency with higher concentration of influent than others. The mean purification amount per day of each pollutant were $9.8-4.1\;g{\cdot}m^{-2}{\cdot}d^{-1}$ in BOD, $1.299-2.343\;g{\cdot}m^{-2}{\cdot}d^{-1}$ in TN, $0.085-1.821\;g{\cdot}m^{-2}{\cdot}d^{-1}$ in TP, $17.9-111.6\;g{\cdot}m^{-2}{\cdot}d^{-1}$ in SS and $0.011-0.094\;g{\cdot}m^{-2}{\cdot}d^{-1}$ in Chl-a. The purification amount per day of TN revealed the hi링hest level at the Zizania latifolia bed, and TP showed at the Acrous calamus bed. SS and Chl-a, as particulate materials, revealed the highest purification amount per day at the Oenanthe javanica bed that was high on the whole parameters. It was estimated that the purification amount per day was increased with the high concentration of influent and shoot density of macrophytes, as was shown in the purification efficiency. Correlation coefficients between purification efficiencies and hydraulic conditions (HRT and inflow rate) were 0.016-0.731 of $R^2$ in terms of HRT, and 0.015-0.868 of $R^2$ daily inflow rate. Correlation coefficients of purification amounts per day with hydraulic conditions were 0.173-0.763 of Ra in terms of HRT, and 0.209-0.770 daily inflow rate. Among the correlation coefficients between purification efficiency and hydraulic condition, the percentages of over 0.5 range of $R^2$ were 20% in HRT and in daily inflow rate. However, the percentages of over 0.5 range of correlation coefficients ($R^2$) between purification amount per day and hydraulic conditions were 53% in HRT and 73% in daily inflow rate. The relationships between purificationamount per day and hydraulic condition were more significant than those of purifi-cation efficiency. In this study, high hydraulic conditions (HRT and inflow rate) are not likely to affect significantly the purification efficiency of nutrient. Therefore, the emphasis should be on the purification amounts per day with high hydraulicloadings (HRT and inflow rate) for the improvement of eutrophic reservoir withrelatively low nutrients concentration and large quantity to be treated.

Assessment of Inorganic Nutrients Contents of Seasonal Foods in Seoul (계절별 다소비식품 중 무기영양원소 함량 평가)

  • Lee, Kyeong-Ah;Jang, Mi-Ra;Kim, Ouk-Hee;Park, Young-Ae;Choi, Bu-Chuhl;Han, Sung-Hee;Kim, Li-La;Kim, Jin-Kyeong;Lee, Jib-Ho;Hwang, In-Sook;Oh, Young-Hee;Jung, Kweon
    • Journal of Food Hygiene and Safety
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    • v.32 no.2
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    • pp.123-128
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    • 2017
  • The purpose of this study was to determine the sodium (Na) and potassium (K) content of seasonal foods Four hundred food samples classified into 8 different kinds of seasonal foods were collected from 150 restaurants located in Seoul. The Na and K content in seasonal foods were the analyzed by ICP-OES. The Average content of Na and K in spicy seafood noodle soup were highest as $391.4{\pm}72.7mg$/100 g and $88.6{\pm}21.4mg$/100 g, respectly, while average content of Na was lowest in spicy buckwheat noodles as $255.3{\pm}67.0mg$/ 100 g and the average content of K was lowest in Udon as $36.3{\pm}17.8mg$/ 100 g, respectively. The Na/K ratio of spicy buckwheat noodles was $3.2{\pm}1.0$, while those of cold buckwheat noodles, fish cake, Udon were very high as measured more than 8. Among the seasonal foods, the average content of Na was highest in Winter group as $366.9{\pm}81.8mg$/ 100 g and the average content of K was highest in Autumn group as $84.8{\pm}24.1mg$/ 100 g. The ratio of Na/K was lowest in Summer group as $5.9{\pm}3.3$.

The Benefit of KT-2000 Knee Ligament Arthrometer in Diagnosis of Anterior Cruciate Ligament Injury (슬관절 전방 십자 인대 파열의 진단에 있어서 KT-2000 기기의 유용성)

  • Park, Jai-Hyung;Kim, Hyoung-Soo;Jung, Kwang-Gyu;Yoo, Jeong-Hyun
    • Journal of the Korean Arthroscopy Society
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    • v.8 no.2
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    • pp.82-88
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    • 2004
  • Purpose: In this study, we intended to ascertain the benefit of KT-2000 Knee arthrometer(KT-2000) in the diagnosis of ACL(Anterior cruciate ligament) injury by comparing the anterior displacement of normal knee with that of ACL deficient knee. Materials and Methods: We designated two examiners to measure the anterior displacement of the knee joint of 30 healthy individuals, using KT-2000, at 30$^{\circ}$ flexion setting of muscle full relaxation, contraction, 25$^{\circ}$ internal rotation and 25$^{\circ}$ external rotation and analyzed these results according to the variables and measured the preoperative anterior displacement of the ACL injured knee in the 30 patients who have gone through an arthroscopic ACL reconstruction later. Results: The results of examiner 1 are 6.5${\pm}$1.5 mm, 2.5${\pm}$0.9 mm, 4.8${\pm}$1.2 mm, 6.4${\pm}$1.3 mm in right knee and 5.6${\pm}$1.3 mm, 2.1${\pm}$0.8 mm, 4.5${\pm}$1.2 mm, 5.2${\pm}$1.3 mm in left knee, in order of muscle full relaxation, contraction, 25$^{\circ}$ internal rotation and 25$^{\circ}$ external rotation. The results of examiner 2 are 6.9${\pm}$1.2mm, 2.9${\pm}$1.1mm, 5.6${\pm}$1.6mm, 6.9${\pm}$1.5mm in right, 5.5${\pm}$1.7 mm,1.9${\pm}$0.9 mm, 5.1${\pm}$1.9 mm, 5.7${\pm}$1.6 mm in left knee, The side to side difference of examiner 1 in the setting of muscle relaxation is 0.9${\pm}$1.0 mm. The anterior displaement of ACL injured knee is average 11${\pm}$2.93 mm and difference of average 6.5${\pm}$2.31 mm form that of normal. In comparison between the right and left knees of healthy individuals, the both results of two examiners showed the statistical difference in the setting of muscle full relaxation but, the results showed the side to side difference below 2 mm in 25case(83%), 21case(70%) respectively and above 3 mm in just 1 case. In the comparison between the normal and ACL injured knees, the results show the statistical difference of the side to side difference in the setting of muscle relaxation(p<0.05). Conclusion: The KT-2000 result is affected by relaxation of muscles around knee, flexion angle of knee joint, rotation of tibia, the strength of displacing force, time of the test and physical factors as height and weight. However, the Accuracy of diagnosis of ACL injury by KT-2000 will increase if the examiner is skillful and the tests are made on the exact position of knee joint.

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Studies on the growth of Korea Lawn Grass (Zoysia japonica Steud.)in Reponse to Nitrogen Application, Clipping Treatment and Plant Density (질소시용, 예초 및 재식밀도가 한국잔디(Zoysia Japonica Steud)의 생육에 미치는 영향)

  • Sim, Jae-Seong
    • The Journal of Natural Sciences
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    • v.1
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    • pp.61-113
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    • 1987
  • The increasing emphasis placed on the production of fine turf for lawns, golf courses, parks, and other recreational sites has led to many unsolved problems as to how such turf could be best established and mainteined. For this purpose, a series of experiments were conducted under con ditions of pot and field. The results obtained were as follows EXPERIMENT I. The effect of nitrogen fertilizer and clipping interval on Zoysia japonica. 1. Increasing the rate of nitrogen and frequent clipping increased tiller number of Zoysis japonica and the maximum number of tillers were obtained from 700 kg N application and freqnent clippings (10 days interval ) in October. Treatment of 350kg N with 10 days clipping interval increased tillers much more than those of 700 kgN with 20 and 30 days clipping intervals. 2. The average number of green leaves occurred during the growth period maximized by applying 700 kg N and clipping 10 days interval. 3. Increasing tiller numbers significantly decreased tops DM weight per tiller by clipping plants at interval of 10 and 20 days, irrespective of nitrogen applied, and with nil N, at the interval of 30 days. By applying 700 kg N, however, top DM weight per tiller increased as the number of tillers increased consistently. 4. The highest top DM weight was achieved from late August to early September by applying 350 and 700kgN. 5. During the growth period, differences in unders ( stolon + root ) DM weight occurred bynitrogen application were found between nil N and two applied nitrogen levels, whereas, at the same level of nitrogen applied, the increase in stolon DM weight enhanced by lengthening the clipping interval to 30 days. 6. Nitrogen efficiency to green leaves, stolon nodes and DM weight of root with high nitrogen was achieved as clipping interval was shortened. 7. By increasing fertilizer nitrogen rate applied, N content n the leaves and stems of Zoysiajaponica was increased. On the other hand, N content in root and stolon had little effect onfertilizer nitrogen, resulting in the lowest content among plant fractions. The largest content of N was recorded in leaves. Lengthening the clipping interval from 10 or 20 to 30 days tends to decrease the N content in the leaves and stems, whereas this trend did not appeared in stolon androot. 8. A positive correlations between N and K contents in tops and stolon were established andthus K content increased as N content in tops and stolon increased. Meanwhile, P content was not affected by N and clipping treatments. 9. Total soluble carbohydrate content in Zoysia japonica was largest in stolon and stem, and was reduced by increasing fertilizer nitrogen rate. Reduction in total soluble carbohydrate due to increased nitrogen rate was severer in the stolons and stems than in the leaves. 10. Increasing the rate of nitrogen applied increased the number of small and large vascular bundles in leaf blade, but shortened distance among the large vascular bundles. Shortening the clipping interval resulted in increase of the number of large vascular bundles but decrease ofdistance between large vascular bundles.EXPERIMENT II. Growth response of Zoysia japonica imposed by different plant densities. 1. Tiller numbers per unit area increased as plant density heightened. Differences in num ber between densities at higher densities than 120 D were of no significance. 2. Tiller numbers per clone attained by 110 days after transplanting were 126 at 40D,77 at 80D, 67 at 120D, 54 at 160D, and 41 at 200D. A decreasing trend of tiller numbers per clone with increasing density was noticable from 100 days after transplanting onwards. 3. During the growth period, the greatest number of green leaves per unit area were attainedin 90days after transplanting at 160D and 200D, and 100 days after transplanting at 40D, 80Dand 120D. Thus the period to reach the maximum green leaf number with the high plantdensity was likely to be earlier that with the low plant density. 4. Stolon growth up to 80 days after transplaning was relatively slow, but from 80 daysonwards, the growth quickened to range from 1.9 m/clone at 40D to 0.6m/clone at 200Din 200 days after transplanting, these followed by the stolon node produced. 5. Plant density did not affect stolon weight/clone and root weight/clone until 80 daysafter transplanting. 6. DM weight of root was heavier in the early period of growth than that of stolon, butthis trend was reversed in the late period of growth : DM weight of stolon was much higherthan that of root.EXPERIMENT Ill. Vegetative growth of Zoysia japonica and Zoysia matrella as affected by nitrogen and clipping height. 1. When no nitrogen was applied to Zoysia japonica, leaf blade which appeared during theAugust-early September period remained green for a perid of about 10 weeks and even leavesemerged in rate September lived for 42 days. However, leaf longevity did not exceed 8 weeks asnitrogen was applied. In contrast the leaf longevity of Zoysia matrella which emerged during the mid August-earlySeptember period was 11 weeks and, under the nitrogen applied, 9 weeks, indicating that thelife-spen of individual leaf of Zoysia matrella may be longer than that of Zoysia japorica. Clipping height had no effect on the leaf longevity in both grasses. 2. During the July-August period, tiller number, green leaf number and DM weightof Zoysia japonica were increased significantly with fertilizer nitrogen, but were not with twolevel of clipping height. This trend was reversed after late September ; no effect of nitrogen wasappeared. Instead, lax clipping increased tiller number, green leaf number and DM weight. Greenleaves stimulated by lax clipping resulted in the occurrance of more dead leaves in late October. 3. Among the stolons outgrown until early September, the primary stolon was not influencedby nitrogen and clipping treatments to produce only 2-3 stolons. However, 1st branch stoIon asaffected by nitrogen increased significantly, so most of stolons which occurred consisted of 1st branch stolons. 4. Until early September, stolon length obtained at nil nitrogen level was chiefly caused bythe primary stolons. By applying nitrogen, the primary stolons of Zoysia japonica waslonger than 1st branch stolons when severe clipping was involved and in turn, shorter than 1stbranch stolons when lax clipping was concerned. In Zoysia matrella, 1st branch stolons were muchlonger than the primary stolon when turf was clipped severely but in conditions of lax clippingthere was little difference in length between primary and 1st branch stolons. 5. Stolon nodes of both Zoysia japonica and Z. matrella were positively influenced by nit rogen, but no particular increase by imposing clipping height treatment was marked in Zoysiamatrella. Although the stolon of Zoysia japonica grew until late October, the growthstimulated by nitrogen was not so remarkable as to exceed that by nil N.

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Effects on School Lunch Service Programme of Elementary School in Rural Area (농촌지역(農村地域) 국민학교(國民學校) 급식아동(給食兒童)과 성장발달(成長發達)과 식생활(食生活) 습관(習慣))

  • Park, Jin Wook;Lee, Sung Kook
    • Journal of the Korean Society of School Health
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    • v.5 no.2
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    • pp.74-90
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    • 1992
  • The purpose of this study is to know the effects on school lunch service programme of elementary school in rural area, by using the group consisting of the sixth year students in the schools that have provided them with the lunch for six years or longer(male student:312, & female student:324), while using the comparing group consisting of the sixth year students in the schools that have not provided them with the school lunch under their similar living condition(male student: 306 & female student:322). In addition, this study was carried out by examining all continued information about their height and weight shown in the developmetal record for six years from the 1st to 6th year, and by checking their eating habits on the basis of questionnaires. The result of this study is summarized as follows. As the result of comparing the values of their height and weight grown for 6 years, it was shown that the height of the male group provided with school lunch is 27.8 cm while the male group without lunch is 27.1 cm. And the female group provided with school lunch indicated the growing value of 29.9 cm while the group without lunch did 28.4 cm. Then, it appeared that both male and female groups provided with school lunch show higher growing values of 0.7 cm, respectively, and 1.5 cm than these groups without lunch. Also, the weight of the group without lunch was 14.8 kg. Moreover, the weight of the female group provided with school lunch was 16.9 kg while the group without lunch was 17.2 kg. Then, it was shown that the male group provided with school lunch indicates heavier growing value of 0.9 kg than the group without lunch while the female group without lunch does heavier value of 0.3 kg than the group provided with school lunch. It's figure showed that although this distribution according to percentile in the 1st year is similar to the standard regular curve it is positioned in the upper group(more thatn 70%) divided centering around 50% in the 6th year, of which distribution of children provided with school lunch was higher. When comparing the values of physical status in the 6th year, it was also shown that male children with school lunch are better than these children without lunch in jumping, throwing, chinning and lifting while female children are better than these children without lunch only in jumping, which were a significant difference. In addition, the group provided with lunch showed distribution of the higher physical grade. The result of analysis on their breakfast indicated that the children with every morning breakfast account for 67.6% of the group provided with school lunch while the group without lunch for 57.8%. Regarding the reason that they do not have the breakfast, the group with school lunch answered "Because of habits"(50.7%) while the group without lunch did "Because they have no appetite"(58.9%). When comparing the degree of preference for hot or salty food, it was apparent that these children with school lunch generally tend to prefer less hot or sailty food. With respect to the frequency and place of their eating between meals, it was shown that about 70.0% of both groups has the eating between meals, more than one time a day. Then, the group with school lunch had the eating between meals at home(45.2%) while the group without lunch did it in the process of returning to home(48.4%). Regarding the degree of their preference for a certain food, it was shown that more children of the group with school lunch do not prefer a food to others. Also, their eating attitude indicated that such children as eating the food with chat after completely swallowing food and with T.V watching are larger and lower among the group with school lunch, which showed a remarkable defference from the group without lunch. With respect to their sanitary habits such as hand washing and toothing, these children who always wash their hand before eating, accounted for 84.4 % of the group provided with school lunch while the group without lunch did for 63.6%, of which the female group with school lunch indicated a remarkable difference. The actual condition of their nutrition education showed that these children who answered "Received this education" accounted for 78.0% of the group with school lunch while the group without lunch accounted for 57.5%.

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Robo-Advisor Algorithm with Intelligent View Model (지능형 전망모형을 결합한 로보어드바이저 알고리즘)

  • Kim, Sunwoong
    • Journal of Intelligence and Information Systems
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    • v.25 no.2
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    • pp.39-55
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    • 2019
  • Recently banks and large financial institutions have introduced lots of Robo-Advisor products. Robo-Advisor is a Robot to produce the optimal asset allocation portfolio for investors by using the financial engineering algorithms without any human intervention. Since the first introduction in Wall Street in 2008, the market size has grown to 60 billion dollars and is expected to expand to 2,000 billion dollars by 2020. Since Robo-Advisor algorithms suggest asset allocation output to investors, mathematical or statistical asset allocation strategies are applied. Mean variance optimization model developed by Markowitz is the typical asset allocation model. The model is a simple but quite intuitive portfolio strategy. For example, assets are allocated in order to minimize the risk on the portfolio while maximizing the expected return on the portfolio using optimization techniques. Despite its theoretical background, both academics and practitioners find that the standard mean variance optimization portfolio is very sensitive to the expected returns calculated by past price data. Corner solutions are often found to be allocated only to a few assets. The Black-Litterman Optimization model overcomes these problems by choosing a neutral Capital Asset Pricing Model equilibrium point. Implied equilibrium returns of each asset are derived from equilibrium market portfolio through reverse optimization. The Black-Litterman model uses a Bayesian approach to combine the subjective views on the price forecast of one or more assets with implied equilibrium returns, resulting a new estimates of risk and expected returns. These new estimates can produce optimal portfolio by the well-known Markowitz mean-variance optimization algorithm. If the investor does not have any views on his asset classes, the Black-Litterman optimization model produce the same portfolio as the market portfolio. What if the subjective views are incorrect? A survey on reports of stocks performance recommended by securities analysts show very poor results. Therefore the incorrect views combined with implied equilibrium returns may produce very poor portfolio output to the Black-Litterman model users. This paper suggests an objective investor views model based on Support Vector Machines(SVM), which have showed good performance results in stock price forecasting. SVM is a discriminative classifier defined by a separating hyper plane. The linear, radial basis and polynomial kernel functions are used to learn the hyper planes. Input variables for the SVM are returns, standard deviations, Stochastics %K and price parity degree for each asset class. SVM output returns expected stock price movements and their probabilities, which are used as input variables in the intelligent views model. The stock price movements are categorized by three phases; down, neutral and up. The expected stock returns make P matrix and their probability results are used in Q matrix. Implied equilibrium returns vector is combined with the intelligent views matrix, resulting the Black-Litterman optimal portfolio. For comparisons, Markowitz mean-variance optimization model and risk parity model are used. The value weighted market portfolio and equal weighted market portfolio are used as benchmark indexes. We collect the 8 KOSPI 200 sector indexes from January 2008 to December 2018 including 132 monthly index values. Training period is from 2008 to 2015 and testing period is from 2016 to 2018. Our suggested intelligent view model combined with implied equilibrium returns produced the optimal Black-Litterman portfolio. The out of sample period portfolio showed better performance compared with the well-known Markowitz mean-variance optimization portfolio, risk parity portfolio and market portfolio. The total return from 3 year-period Black-Litterman portfolio records 6.4%, which is the highest value. The maximum draw down is -20.8%, which is also the lowest value. Sharpe Ratio shows the highest value, 0.17. It measures the return to risk ratio. Overall, our suggested view model shows the possibility of replacing subjective analysts's views with objective view model for practitioners to apply the Robo-Advisor asset allocation algorithms in the real trading fields.

Antimicrobial, Antioxidant and Cellular Protective Effects against Oxidative Stress of Anemarrhena asphodeloides Bunge Extract and Fraction (지모 뿌리 추출물과 분획물의 항균활성과 항산화 활성 및 세포보호 연구)

  • Lee, Yun Ju;Song, Ba Reum;Lee, Sang Lae;Shin, Hyuk Soo;Park, Soo Nam
    • Microbiology and Biotechnology Letters
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    • v.46 no.4
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    • pp.360-371
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    • 2018
  • Extracts and fractions of Anemarrhena asphodeloides Bunge were prepared and their physiological activities and components were analyzed. Antimicrobial activities of the ethyl acetate and aglycone fractions were $78{\mu}g/ml$ and $31{\mu}g/ml$, respectively, for Staphylococcus aureus and $156{\mu}g/ml$ and $125{\mu}g/ml$, respectively, for Pseudomonas aeruginosa. 1,1-Diphenyl-2-picrylhydrazyl free radical scavenging activities ($FSC_{50}$) of 50% ethanol extract, ethyl acetate fraction, and aglycone fraction of A. asphodeloides extracts were $146.2{\mu}g/ml$, $23.19{\mu}g/ml$, and $71.06{\mu}g/ml$, respectively. The total antioxidant capacity ($OSC_{50}$) in an $Fe^{3+}$-EDTA/hydrogen peroxide ($H_2O_2$) system were $17.5{\mu}g/ml$, $1.5{\mu}g/ml$, and $1.4{\mu}g/ml$, respectively. The cytoprotective effect (${\tau}_{50}$) in $^1O_2$-induced erythrocyte hemolysis was 181 min with $4{\mu}g/ml$ of the aglycone fraction. The ${\tau}_{50}$ of the aglycone fraction was approximately 4-times higher than that of (+)-${\alpha}$-tocopherol (${\tau}_{50}$, 41 min). Analysis of $H_2O_2$-induced damage of HaCaT cells revealed that the maximum cell viabilities for the 50% ethanol extract, ethyl acetate fraction, and aglycone fraction were 86.23%, 86.59%, and 89.70%, respectively. The aglycone fraction increased cell viability up to 11.53% at $1{\mu}g/ml$ compared to the positive control treated with $H_2O_2$. Analysis of ultraviolet B radiation-induced HaCaT cell damage revealed up to 41.77% decreased intracellular reactive oxygen species in the $2{\mu}g/ml$ aglycone fraction compared with the positive control treated with ultraviolet B radiation. The findings suggest that the extracts and fractions of A. asphodeloides Bunge have potential applications in the field of cosmetics as natural preservatives and antioxidants.

The study on the scattering ratio at the edge of the block according to the increasing block thickness in electron therapy (전자선 치료 시 차폐블록 두께 변화에 따른 블록 주변 선량에 관한 연구)

  • Park, Zi On;Gwak, Geun Tak;Park, Ju Kyeong;Lee, Seung Hun;Kim, Yang Su;Kim, Jung Soo;Kwon, Hyoung Cheol;Lee, Sun Young
    • The Journal of Korean Society for Radiation Therapy
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    • v.31 no.1
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    • pp.57-65
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    • 2019
  • Purpose: The purpose is to clarify the effect of additional scattering ratio on the edge of the block according to the increasing block thickness with low melting point lead alloy and pure lead in electron beam therapy. Methods and materials: $10{\times}10cm^2$ Shielding blocks made of low melting point lead alloy and pure lead were fabricated to shield mold frame half of applicator. Block thickness was 3, 5, 10, 15, 20 (mm) for each material. The common irradiation conditions were set at 6 MeV energy, 300 MU / Min dose rate, gantry angle of $0^{\circ}$, and dose of 100 MU. The relative scattering ratio with increasing block thickness was measured with a parallel plate type ion chamber(Exradin P11) and phantom(RW3) by varying the position of the shielding block(cone and on the phantom), the position of the measuring point(surface ans depth of $D_{max}$), and the block material(lead alloy and pure lead). Results : When (depth of measurement / block position / block material) was (surface / applicator / pure lead), the relative value(scattering ratio) was 15.33 nC(+0.33 %), 15.28 nC(0 %), 15.08 nC(-1.31 %), 15.05 nC(-1.51 %), 15.07 nC(-1.37 %) as the block thickness increased in order of 3, 5, 10, 15, 20 (mm) respectively. When it was (surface / applicator / alloy lead), the relative value(scattering ratio) was 15.19 nC(-0.59 %), 15.25 nC(-0.20 %), 15.15 nC(-0.85 %), 14.96 nC(-2.09 %), 15.15 nC(-0.85 %) respectively. When it was (surface / phantom / pure lead), the relative value(scattering ratio) was 15.62 nC(+2.23 %), 15.59 nC(+2.03 %), 15.53 nC(+1.67 %), 15.48 nC(+1.31 %), 15.34 nC(+0.39 %) respectively. When it was (surface / phantom / alloy lead), the relative value(scattering ratio) was 15.56 nC(+1.83 %), 15.55 nC(+1.77 %), 15.51 nC(+1.51 %), 15.42 nC(+0.92 %), 15.39 nC(+0.72 %) respectively. When it was (depth of $D_{max}$ / applicator / pure lead), the relative value(scattering ratio) was 16.70 nC(-10.87 %), 16.84 nC(-10.12 %), 16.72 nC(-10.78 %), 16.88 nC(-9.93 %), 16.90 nC(-9.82 %) respectively. When it was (depth of $D_{max}$ / applicator / alloy lead), the relative value(scattering ratio) was 16.83 nC(-10.19 %), 17.12 nC(-8.64 %), 16.89 nC(-9.87 %), 16.77 nC(-10.51 %), 16.52 nC(-11.85 %) respectively. When it was (depth of $D_{max}$ / phantom / pure lead), the relative value(scattering ratio) was 17.41 nC(-7.10 %), 17.45 nC(-6.88 %), 17.34 nC(-7.47 %), 17.42 nC(-7.04 %), 17.25 nC(-7.95 %) respectively. When it was (depth of $D_{max}$ / phantom / alloy lead), the relative value(scattering ratio) was 17.45 nC(-6.88 %), 17.44 nC(-6.94 %), 17.47 nC(-6.78 %), 17.43 nC(-6.99 %), 17.35 nC(-7.42 %) respectively. Conclusions: When performing electron therapy using a shielding block, the block position should be inserted applicator rather than the patient's body surface. The block thickness should be made to the minimum appropriate shielding thickness of each corresponding using energy. Also it is useful that the treatment should be performed considering the influence of scattering dose varying with distance from the edge of block.