Investors seeking to identify skilled active managers look to dissect fund performance into returns generated
from factor exposures and alpha that is attributable to fund manager skill, which in turn should affect fund flows.
Not exact matches
Important
factors that could cause actual results to differ materially
from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost of accommodating, announced increases in the build rates of certain aircraft; 6) the effect on aircraft demand and build rates of changing customer preferences for business aircraft, including the effect of global economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result of global economic uncertainty or otherwise; 8) the effect of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution of key milestones such as the receipt of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation of our announced acquisition of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production of aircraft resulting
from cancellations, deferrals, or reduced orders by their customers or
from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact on the demand for air travel or our operations
from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover
from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact of future discount rate changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition of Asco on favorable terms or at all; 18) competition
from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our
exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30)
exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
Exposure to such investment
factors may detract
from performance in some market environments, perhaps for extended periods.
Portfolio managers selecting bonds
from this grouping can gain access to the same risk
factor without needing to buy all the bonds in the index to get the beta
exposure.
The product is derived
from Morningstar's Global Risk Model, released in 2016, which tracks portfolio risk by monitoring each stock's underlying economic
exposure to 36
factors.
SUMMARY It's difficult to rationalise why there should be excess returns
from high quality stocks The Quality
factor needs to be constructed beta - neutral to achieve positive returns
Exposure to the Quality
factor is an attractive hedge for an equity - centric portfolio INTRODUCTION The concept of
By adding alternative asset classes, we can enhance diversification by selecting
exposure to
factors that don't typically come
from a traditional balanced portfolio of stocks and bonds.
VIDI allocates to countries based on their perceived ability to withstand economic shocks as determined by multiple
factors, an approach that can produce significant and unusual differences
from market - weighted country
exposure, including a bias to emerging countries.
In 2008, the Journal of Sports Economics published a study that suggested a recruit's decision on where to attend college is «governed by a handful of primary
factors» including «the opportunity for individual success and
exposure, a team's recent on - field success and the distance to the school
from his hometown.»
Add complicating
factors — like an overheated sleep space, or
exposure to artificial lights and electronic media before bedtime — and it's clear that many people are trying to sleep in ways that differ dramatically
from those of our ancestors (Worthman and Melby 2002; Jenni and O'Connor 2005; Yetish et al 2015).
Post-partum depression poses substantial adverse consequences for mothers and their infants via multiple direct biological (i.e., medication
exposure, maternal genetic
factors) and environmental (i.e., life with a depressed mother) mechanisms.8, 9
From the earliest newborn period, infants are very sensitive to the emotional states of their mothers and other caregivers.10, 11 Maternal mood and behaviour appear to compromise infant social, emotional and cognitive functioning.11 - 15 As children grow, the impact of maternal mental illness appears as cognitive compromise, insecure attachment and behavioural difficulties during the preschool and school periods.6,16 - 19
From activity level to sun
exposure and how much time we spend staring at our screens, the
factors seem nearly endless.
Aside
from sleep position, smoke
exposure is the largest contributing risk
factor for SIDS.149 It is estimated that one - third of SIDS deaths could be prevented if all maternal smoking during pregnancy were eliminated.214, 215 The AAP supports the elimination of all tobacco smoke
exposure, both prenatally and environmentally.216, 217
The most recent study report described in these same regions decreased tissue levels of 5 - HT and tryptophan hydroxylase, the synthesizing enzyme for serotonin, and no evidence of excessive serotonin degradation as assessed by levels of 5 - hydroxyindoleacetic acid (the main metabolite of serotonin) or ratios of 5 - hydroxyindoleacetic acid to serotonin.30 A recent article described a significant association between a decrease in medullary 5 - HT1A receptor immunoreactivity and specific SIDS risk
factors, including tobacco smoking.40 These data confirm results
from earlier studies in humans39, 41 and are also consistent with studies in piglets that revealed that postnatal
exposure to nicotine decreases medullary 5 - HT1A receptor immunoreactivity.42 Animal studies have revealed that serotonergic neurons located in the medullary raphe and adjacent paragigantocellularis lateralis play important roles in many autonomic functions including the control of respiration, blood pressure, heart rate, thermoregulation, sleep and arousal, and upper airway patency.
If you are a man and suffer
from infertility, you need to consider
exposure to environmental pollution as a risk
factor.»
Radiation
exposure levels for most people were elevated so minutely above background that it may be impossible to tease out carcinogenic effects
from other risk
factors, such as smoking or diet.
In addition, most cases of breast cancer are not hereditary,
from BRCA or other mutations, but «sporadic,» meaning they arise at random or
from smoking, obesity,
exposure to toxic chemicals, hormone use, and other environmental
factors.
A previous report
from URECA that assessed the microbiome of house dust collected in the first year of life suggested that
exposure to certain bacteria during infancy may protect 3 - year - olds
from recurrent wheezing, a risk
factor for developing asthma.
One preventable risk
factor is ultraviolet
exposure from indoor and outdoor tanning.
According to the principal investigator of this research project, Juan Pedro Arrebola,
from the Biohealth Research Institute (IBS), «there is currently an increasing tendency in the impact of a diversity of different types of cancer, which can be attributed in part to the influence of several environmental
factors, such as
exposure to certain chemical pollutants.»
Application of sun protection
factor 30 (SPF30) sunscreen prior to
exposure to ultraviolet - B (UVB) light delayed melanoma onset in a mouse model of the disease, according to data
from a team at The Ohio State University Comprehensive Cancer Center Comprehensive Cancer Center — Arthur G. James Cancer Hospital and Richard J. Solove Research Institute.
«We have seen and followed many patients with different skin cancers where the only risk
factor apart
from exposure to sunlight seems to be hydrochlorothiazide.
The fact that the accelerated rate of brain growth occurs in an infant's first year suggests that autism springs
from a genetic or prenatal biological cause, not
from later environmental
factors such as vaccinations, adverse allergic reactions, or
exposure to toxins.
The researchers examined three groups of patients with CDI — those who were admitted
from the community with no risk
factors, those who had prior
exposure to hospitals or clinics, and those who had onset of disease in the hospital.
Factors such as eczema and rhinitis are associated with food allergy, possibly due to a certain gene defect that prevents the skin barrier
from forming correctly, leading to possible
exposure of the immune system to allergens.
Another past study
from Yoo's team showed that
exposure to the same two microRNAs, miR - 9 and miR - 124, plus a different mix of transcription
factors could turn skin cells into a different type of neuron.
To examine whether physical workload is a possible risk
factor for RA, information on different types of self - reported
exposure was analysed
from a population of 3,680 RA patients and 5,935 matched controls included in the Swedish Epidemiological Investigation of Rheumatoid Arthritis (EIRA).
Factors such as early environment, diet and antibiotic
exposure have a lot to do with why people differ
from one another in the composition of their microbiomes.
«The combination of genetic susceptibility and individualized cumulative
exposure — not just to other chemicals in consumer products, but
from other sources such as air quality — empowers people to make informed decisions about changing the
factors that directly influence their health outcomes.»
Exposure to the sun (extrapolated
from the time of the year and travel to southern latitudes) and consumption of vitamin D supplements were the only
factors that affected maternal vitamin D status.
Of the
factors examined that combine to create the County Health Rankings, the counties ranked lowest for poverty, measured as the number of children below the poverty line, had twice the relative risk of asthma as an outcome
from PM2.5
exposure than those counties ranked highest (the largest difference).
So, whereas the typical person might think of their «environment» as their house, or their neighborhood - scientists trying to understand the
factors that influence the development of schizophrenia define environment to include everything
from the social, nutritional, hormonal and chemical environment in the womb of the mother during pregnancy, up to the social dynamics and stress a person is exposed to, to street drug use, education, virus
exposure, vitamin use, and any other
factor that could possibly be involved with the development of schizophrenia.
The differences generally stem
from local climate
factors such as elevation and
exposure.
We now show that astrocytes generated
from the same population of human fetal glial precursor cells, by
exposure to either bone morphogenetic protein (BMP) or ciliary neurotrophic
factor (CNTF), promote widely divergent outcomes with respect to repairing the injured adult spinal cord.
These mutations may arise
from behavioral and environmental risk
factors, such as smoking, consumption of red meat, or
exposure to sunshine.
Three recent experimental studies focused on low consumption /
exposure.949596 In one study, 29 smokers each consumed a single cigarette, immediately after which they had a significant decrease in blood vessel output power and significant increase in blood vessel ageing level and remaining blood volume 25 minutes later, as markers of atherosclerosis.94 In another study, human coronary artery endothelial cells were exposed to the smoke equivalent to one cigarette, which led to activation of oxidant stress sensing transcription
factor NFR2 and up - regulation of cytochrome p450, considered to have a role in the development of heart disease.95 These effects were not seen when heart cells were exposed to the vapour
from one e - cigarette.95 A study exposed adult mice to low intensity tobacco smoke (two cigarettes) for one to two months and found adverse histopathological effects on brain cells.96
Our objective was to develop an eco-epidemiological modeling approach to characterize the spatial relationships between areas of higher than expected ALS incidence and lake water quality risk
factors derived
from satellite remote sensing as a surrogate marker of
exposure.
At one end are those who see the problem as multifaceted: that a range of common, inherited variations combine with spontaneous variations that arise
from environmental
factors, such as toxic
exposures or infections during pregnancy.
So, whereas the typical person might think of their «environment» as their house, or their neighborhood - scientists trying to understand the
factors that influence the development of schizophrenia define environment to include everything
from the social, nutritional, hormonal and chemical environment in the womb of the mother during pregnancy, up to the social dynamics and stress a person experiences, to street drug use, education, virus
exposure, vitamin use, and much, much more.
The cells in your skin depend heavily on fat production for added protection against damage
from constant
exposure to wind, sun, and other harsh everyday environmental
factors.
Traditional populations that were healthy and tolerated wheat well differed
from us in that they also had all of the
factors that would contribute to a robust microbiome, such as regular consumption of fermented foods,
exposure to a variety of microbes through farming and close contact with animals, lack of antibiotic use, etc..
Crinnion explains that most diet plans don't work because they overlook an important
factor; our
exposure to toxins
from the food we eat and our environment.
Factors Involved in the Increased Intestinal Permeability Associated With Irritable Bowel Disease Stress, sugar, alcohol and previous
exposure to Antibiotics head the list of items which kill off beneficial intestinal flora, setting the stage for yeast and other patogenic bacteria
from disturbing intestinal permeability.
The delicate balance between the human microbiome and the development of psychopathologies is particularly interesting given the ease with which the microbiome can be altered by external
factors, such as diet, 23
exposure to antimicrobials24, 25 or disrupted sleep patterns.26 For example, a link between antibiotic
exposure and altered brain function is well evidenced by the psychiatric side - effects of antibiotics, which range
from anxiety and panic to major depression, psychosis and delirium.1 A recent large population study reported that treatment with a single antibiotic course was associated with an increased risk for depression and anxiety, rising with multiple
exposures.27 Bercik et al. 28 showed that oral administration of non-absorbable antimicrobials transiently altered the composition of the gut microbiota in adult mice and increased exploratory behaviour and hippocampal expression of brain - derived neurotrophic
factor (BDNF), while intraperitoneal administration had no effect on behaviour.
The World Health Organization (WHO) estimates that the typical absorbed dose of mercury
from amalgams is one to twenty - two micrograms per day, with most values in the range of one to five micrograms per day.16 Various
factors, including gum chewing and bruxism, can increase these
exposures to an upper range of about one hundred micrograms per day.7 Preliminary evidence also suggests that certain types of electromagnetic radiation, including EMR
from mobile phones and
from magnetic resonance imaging (MRI) may increase the release of mercury vapor
from dental amalgams.17
A good routine involves steps to protect your skin
from damage that can be caused by sun
exposure, poor daily habits, and environmental
factors.
Some theories suggest that fibromyalgia may result
from stress - induced changes in the hippocampal area of the brain; others
from stress - induced disruptions of the hypothalamic - pituitary - adrenal (HPA) axis (which affects adrenal function and cortisol production); and still others
from low levels of the neurotransmitter, dopamine, caused by genetic
factors and triggered by
exposure to stressors, such as emotional distress, physical trauma, viral infections or inflammatory disorders.
Any efforts to eat well, reduce * our
exposure to toxins, along with adequate rest and regular exercise, provide our best chances of protecting our bodies
from the onslaught of disease, degeneration and premature aging; all risk
factors in autoimmune deficiency and disorders.
For those suffering
from lead or other heavy metal poisoning, a protective diet that avoids processed foods and emphasizes the central components of a nutrient - dense and antioxidant - rich WAPF - style diet is essential (see sidebar).21 Nutritional status shapes susceptibility to lead toxicity in important ways, affecting lead's intestinal absorption; its mobilization, distribution and retention in the body; and excretion.22 Because oxidative stress is a likely mechanism explaining some of lead's toxic actions, some investigators have begun to explore whether natural antioxidants and trace minerals may help mitigate lead - induced cell damage.17 Specifically, researchers in Spain found that administration of vitamins A, B6, C and E along with zinc modulated some of the negative effects of lead
exposure in rat pups, confirming the influence of nutritional
factors on health outcomes following lead
exposure.17 Vitamin D also should be a major component of a protective diet.
Appropriate treatment regimens vary significantly
from person to person, depending upon multiple dietary and lifestyle
factors, specific medical conditions and the circumstances of
exposure.