Monday, November 17, 2008

Clinical Pharmacology Seminars Presentations

Clinical Pharmacology Seminars presentations to which I am about to give lectures at Faculty of Pharmacy, Comenius University in this November and December are here to download.

Tuesday, October 14, 2008

Efficient Markets or ... Herd Get Slaughtered

Rational Expectations Theory is cornerstone of modern economics. It implies that markets work highly or at least quite efficiently and this, applied to equity markets, has been described as Efficient Market Hypothesis. Under efficient markets conditions assets are priced fairly and reflect all available information. But do someone still believes that this applies to real-world markets?
Greenspan talks about irrational exuberance. Stock market crashes tended to repeat from beginning of securities trading - from South Seas Bubble, through Japan late 1980s stock crash until recent credit crunch downturn. And if equity markets are irrational can better informed traders profit from its irrationality?
The efficiency problem is clearly interconnected with investment strategies as inefficient markets would imply possibility of risk unadjusted profits and vice versa - abnormal profits point to market inefficiencies. The connection between equity market efficiency and investment strategies is focus of my MBA dissertation. It evaluates and compare common investment strategies based on time series of market data since 1990 until 2008. While some of the conclusions are at odds with popular notions on the stock market they are well consistent with other academic research on the subject and can provide framework for equities investment decision-making. The work is free to download following link bellow.

Monday, September 22, 2008

Patient Information on Clinical Trials Article

No. 4/2008 issue of Slovak patients focused magazine "Bedeker zdravia" has published my article on clinical trials providing patients with basic information on the topic. The article (in Slovak only) can be found following the link bellow on page no. 88 of the periodical electronic version.

Bedeker zdravia 4/2008

Monday, August 25, 2008

Clinical Trials in the Czech Republic

I prepared document which may be helpful to applicants for clinical trials authorizations in the Czech Republic. The overview includes summaries of documentation required for CTAs, amendments, procedures description, information on Ethics submissions, references to applicable laws and guidelines and much more useful information. To view/download the document follow the link bellow.

Regulatory Requirements for Clinical Trials Conduct in the Czech Republic

Tuesday, February 19, 2008

Recent Mutual Funds Performance and Efficient Investment Strategies

This document is glimpse on performance of the US mutuals in last three years. The analyses aimed to provide basis for decisions on portfolio allocation and investment risk management employs data on 63 mutual funds marketed in the US. It summarizes basic performance data and uses statistical measures in their assessment. Morningstar Style Box is used as a tool in defining basic categories of investment strategy. The stress is on analyses of investment risk as core returns determinant and risk adjustment of returns. Outcomes and prospects of most common investment strategies (growth, value, index) are discussed and confronted with long-term equity market trends.
Read the full article

Sunday, January 20, 2008

Homeopathy Swindle

Do you think it is right to legally prohibit regulatory agencies to require proof of safety and efficacy for products that have legal status and are marketed as drugs? Would you approve use of public funds in healthcare to be spent on the practices equal to shaman treatment or voodoo? Is this possible anywhere in the world? Yes, you are right if thinking this is happening in the European Union. Principles of homeopathy does not have any justification in science and have been proved to be ineffective for many times. It is unsurprising as concepts of homeopathy are derived from mysticism and sympathetic magic.
Read the full article

Saturday, January 5, 2008

Assignments Go Online

I am publishing some of my MBA assignments from Nottingham Business School of Nottingham Trent University. All MBA works include official assessment made by module tutor on its last page. Some minor changes (like in formating) may differ the web versions from works submitted to NTU office but the content is identical.

There is an interesting point in the finance assignment that prognosis on selected biotech stocks returns put down there turned into reality as measured in 11 months (3rd January 2008) after the analyses. It is understood that the prognosis is linked to huge potential profits as described bellow. As major biotechnology companies were analyzed following fundamental conclusions on their investment prospects are present in the work dated February 15th 2007:
This stock (Genzyme) can be good portfolio investment for those who are willing to accept risk associated with biotechnology stocks.
Investors should be rather careful about too high (P/E) ratio of Genentech. For company which now has highest capitalization in biotech sector it is not sustainable to hold unrealistically high P/Es over long time period. The company produced superb returns from 2003 to 2005 but failed to substantially rise profit. In this case high P/E may signal that shares are “overvalued”.
Gilead Sciences
... as company prospects are still good it may be worth higher share price.

The table bellow show the stock prices from 15th February 2007 until recent - 3rd January 2008 and confirm correctness of the assessment.
There are not any further (not accomplished) prognosis in the work. However, as I assume to publish more on subject of equity markets in this blog do not forget to check it in future or bookmark the page if interested in other valuable hints.

In addition I also publish my diploma thesis from Pharmaceutical Faculty dealing with genotyping in Alzheimer disease.

In any handling with these works my copyrights shall be fully recognized.