Me Botes

The long-run relationship between inflation and real stock prices: empirical evidence from South Africa

The existing literature on the theoretical relationship between the rate of inflation and real stock prices in an economy has shown varied predictions about the long run effects of inflation on real stock prices. In this paper, we present some time series evidence on this issue using South African data, by applying the structural bivariate vector autoregressive (VAR) methodology proposed by King and Watson (1997). Our empirical results provide considerable support of the view that, in the long run real stock prices are invariant to permanent changes in the rate of inflation. The impulse responses reveal a positive real stock price response to a permanent inflation shock in the long run, indicating that any deviations in short run real stock prices will be corrected towards the long run value. It is therefore concluded that inflation does not lower the real value of stocks in South Africa, at least in the long run.

The management of HIV: A practical approach

Introduction This is the first article in a series on the clinical management of patients infected with the Human Immunodeficiency Virus (HIV). This paper focuses on the diagnosis, staging and physical examination of the patient, while the following two articles will address the prophylaxis and treatment of opportunistic infections. Thereafter an article will deal with antiretrovirals and finally ethical issues regarding HIV will be discussed. Ultimately the profound immune suppression resulting from HIV infection renders patients vulnerable to opportunistic infections and malignancies. The median time from infection to Acquired Immunodeficiency Syndrome (AIDS) is 8-10 years in developed countries, but there is individual variation with a small proportion of patients progressing very fast, and a smaller proportion of patients who remain clinically stable, the so-called nonprogressors. Poor socio-economic circumstances and malnutrition can shorten the time duration from primary HIV infection to AIDS. The CD4 count plays an important role in gauging damage to the immune system and cannot be left unmentioned in a discussion on the clinical staging of HIV, although it will be discussed at length later in the article.

Diffuse Infiltrative Lymphocytosis Syndrome (DILS)

Abstract Diffuse infiltrative lymphocytosis syndrome (DILS) is characterised by a persistent CD8+ lymphocytosis and lymphocytic infiltration of various organs. The reported prevalence varies between 0.85–3%, and appears to be more common in Africans. Patients with DILS tend to have higher CD4+ cell counts and survive longer than those patients without DILS. Most patients present with bilateral parotid gland enlargement and features of the Sicca syndrome. Extraglandular involvement is common with the lungs being the most common site, followed by peripheral neuropathy and liver involvement. DILS is a benign presentation in most patients with few complications. Therapeutic trials are lacking although there are isolated reports of good response to antiretroviral and steroid therapy. With the high incidence of HIV in our population it is likely that DILS is under diagnosed probably due to our ignorance of this disease. Awareness of its various presentations may bring to light undiscovered patients with DILS.

Carbohydrate-derived fulvic acid wellness drink: its tolerability, safety and effect on disease markers in pre-ART HIV-1 positive subjects

Background: Many people take wellness drinks on a daily basis to enhance physical and emotional well-being. The safety and/or efficacy of these are not always known or even established in the populations likely to consume these. The safety, tolerability and clinical impact of CHD-FA in a formulated wellness drink (F0210) (a pure and novel fulvic acid) were researched in a pre-ART HIV-1 positive population in India an area where patients are known to use organic acids such as fulvic acids (Shilajit) for health enhancement. Methods: This double-blind, placebo-controlled, parallel study recruited 332 patients (n = 166 on active; n = 166 on placebo). The study outcomes recorded safety and tolerability data, as well as the time to ART and/or the time to a decrease in CD4 count of 100 cells/mm3 for subjects in each treatment group. Change in immune status is an important clinical endpoint. The secondary outcomes were CD4 count, HIV-1 viral load changes and quality of life (the latter as a further proxy for tolerability). Results: The only notable side effect of the active medication was gastrointestinal intolerance such as diarrhoea, nausea and vomiting, which were more frequently experienced compared with placebo. The study was terminated before full recruitment due to regulatory changes in India and at the time of study termination there were too few clinical study endpoints reached to demonstrate any clinical difference between active and placebo treatments (no difference in hazard of experiencing an event (reaching indication for ART) between groups; p = 0.5724). An interesting trend was that patients’ CD4 counts in the study demonstrated a slower than anticipated decline compared with trends recorded in the literature for natural progression of disease. Conclusion: The CHD FA wellness drink is well tolerated in an ART-naive study population and does not negatively affect the disease-specific parameters and hence does not adversely affect the natural progression of the HIV-1 disease or patients’ general health. Further exploration of fulvic acids is therefore warranted.

The management of opportunistic infections and cancer in HIV disease

The diagnosis and treatment of common opportunistic infections influencing quality of life in HIV disease. The diagnosis and treatment of some life-threatening opportunistic infections in HIV disease. The management of the side effects of some of the drugs used.l/lig l/ulg