Saturday, December 28, 2019
Gogatsu byou May Sickness
After Golden Week (a succession of holidays) is over, a symptom called, Gogatsu byou occurs to some Japanese people. Gogatsu means May and byou means sickness. It is a depression that affects some new students or employees during the first few months of their new life (the Japanese school year starts in April). It is not a medical term and is usually diagnosed as an adjustment disorder. It is always hard to get back to a regular routine after a nice long vacation. Japanese Translation ä ºâ€Ã¦Å"ˆçâ€"… ã‚ ´Ã£Æ' ¼Ã£Æ' «Ã£Æ'‡ãÆ' ³Ã£â€š ¦Ã£â€š £Ã£Æ' ¼Ã£â€š ¯Ã£ Å'ç µâ€šÃ£â€š 㠣ã Ÿã ‚㠨ã ら㠄㠫ã€ ä ºâ€Ã¦Å"ˆçâ€"…㠨ã „ã †çâ€"‡çŠ¶Ã£ «Ã£ ‹ã ‹ã‚‹ä º ºÃ£ Å'㠄㠾㠙。æâ€" °Ã£ â€"ã „çâ€Å¸Ã¦ ´ »Ã£â€šâ€™Ã¥ §â€¹Ã£â€š ã ŸãÆ' ¶Ã¦Å"ˆã ®Ã©â€"“㠫〠æâ€" °Ã¥â€¦ ¥Ã§â€Å¸Ã£â€šâ€žÃ¦â€" °Ã¥â€¦ ¥Ã§ ¤ ¾Ã¥â€œ ¡Ã£ «Ã£ ¿Ã£â€šâ€°Ã£â€šÅ'る㠆㠤çâ€"…㠮よ㠆㠪も㠮㠧㠙。(æâ€" ¥Ã¦Å" ¬Ã£ ®Ã¥ ¦Ã¥ ¹ ´Ã¥ º ¦Ã£ ¯Ã¥â€ºâ€ºÃ¦Å"ˆã «Ã¥ §â€¹Ã£ ¾Ã£â€šÅ 㠾㠙。) ä ºâ€Ã¦Å"ˆçâ€"…㠯åÅ' »Ã¥ ¦Ã§Å¡â€žÃ£ ªÃ¥ ç § °Ã£ §Ã£ ¯Ã£ ªÃ£ ã€ é ©Ã¥ ¿Å"éšÅ"Ã¥ ® ³Ã£ ¨Ã¨ ¨ ºÃ¦â€" ã •ã‚Å'る㠓㠨ã Å'Ã¥ ¤Å¡Ã£ „㠧ã ™ã€‚å ¹ ¸Ã£ „㠪ã “㠨㠫〠æâ€" ¥Ã¦Å" ¬Ã£ §Ã§ § 㠯ä ºâ€Ã¦Å"ˆçâ€"…㠫㠋㠋㠣ã Ÿã “㠨à £ ¯Ã£ ‚り㠾㠛んã Å'ã€ æ ¥ ½Ã£ â€"ã „é• ·Ã£ „ä ¼â€˜Ã£ ¿Ã£ ®Ã£ ‚㠨〠æâ€" ¥Ã¥ ¸ ¸Ã§â€Å¸Ã¦ ´ »Ã£ «Ã¦Ë† »Ã£â€šâ€¹Ã£ ®Ã£ ¯Ã¥ ¤ §Ã¥ ¤â€°Ã£ ªÃ£â€šâ€šÃ£ ®Ã£ §Ã£ ™ã‚ˆã 。 Romaji Translation Gooruden wiiku ga owatta ato gurai ni, gogatsu byou to iu shoujou ni kakaru hito ga imasu. Atarashii seikatsu o hajimeta ni, san kagetsu no aida ni, shinnyuusei ya shinnyuushain ni mirareru utsubyou no youna mono desu. (Nihon no gakunendo wa shigatsu ni hajimarimasu.) Gogatsu byou wa igakutekina meishou dewa naku, tekiou shougai to shindan sareru koto ga ooi desu. Saiwaina koto ni, nihon de watashi wa gogatsu byou ni kakatta koto wa arimasen ga, tanoshii nagai yasumi no ato, nichijou seikatsu ni modoru nowa taihenna mono desu yo ne. Note: The translation is not always literal. Beginners Phrase It is always hard to get back to a regular routine after a nice long vacation. Tanoshii nagai yasumi no ato, nichijou seikatsu ni modoru nowa taihenna mono desu.㠟㠮ã â€"ã „ 㠪ã Å'ã „ や㠙㠿㠮ã ‚㠨〠㠫㠡㠘ょ㠆ã ݋ „㠋㠤ã « も㠩る㠮ã ¯ 㠟㠄㠸ん㠪も㠮㠧ã ™ã€‚æ ¥ ½Ã£ â€"ã „é• ·Ã£ „ä ¼â€˜Ã£ ¿Ã£ ®Ã£ ‚㠨〠æâ€" ¥Ã¥ ¸ ¸Ã§â€Å¸Ã¦ ´ »Ã£ «Ã¦Ë† »Ã£â€šâ€¹Ã£ ®Ã£ ¯Ã¥ ¤ §Ã¥ ¤â€°Ã£ ªÃ£â€šâ€šÃ£ ®Ã£ §Ã£ ™ã€‚
Friday, December 20, 2019
Essay The Adventures of Huckleberry Finn by Mark Twain
In The Adventures of Huckleberry Finn, Mark Twain criticizes a â€Å"sivilized†society, by depicting those who are considered â€Å"civilized†to be deceiving. Huckleberry Finn, also referred to as Huck, is the protagonist and the narrator of the story. He is influenced by many, but makes decisions that contradict societal norms. As the story develops, Twain employs dramatic, situational, and cosmic irony, as Huck overcomes difficult situations throughout his journey with Jim; a slave. As Huck and Jim go down the Mississippi River, to get away from St. Petersburg, they separate after a ship was close to crashing their raft. Huck tries to find Jim, but encounters the Grangerfords. The Grangerfords are a family who accepted Huck into their†¦show more content†¦Readers thought Tom would â€Å" ...say it’s dirty, lowdown business...†(p.226) but realize the situational irony in chapter 33, when Tom agrees to free Jim, and â€Å"Tom Sawyer fell considerable in [his] estimation.†(p.226) Even though it’s ironic that Tom made his plan â€Å"adventurous†, and that Huck agreed to it. Huck is more mature, having more sense than Tom , yet he agreed with Tom’s complicated plan to free Jim. Readers suddenly come to an understanding of how much Huck cares about Jim, even if it wasn’t right for him to be helping a slave. The major characters in this novel are all considered to be slaves at a certain point, contradicting that they believe they’re socially better. The cosmic irony, is the realization of the non-slaves, actually being slaves. Jim, being an African slave, is a slave tied to his owner; the Widow Douglas. Pap, Hucks father, is a slave to alcohol, which leads to physical abuse toward Huck. The alcohol eventually gets the best of Pap and he ends up being the dead man Jim found in the abandoned house. The majority of the characters that Huck encounters, like the Duke and the Dauphin, are slaves because of their unnecessary addictions, like wealth and robbery. These unusual addictions lead to disorder in the book. In The Adventures of Huckleberry Finn, Mark Twain deliberately changes the wording of â€Å"civilization†into â€Å"sivilization,†to express how Huck denies the â€Å"sivilized†lifestyle that is surrounding him. Despite the factShow MoreRelatedThe Adventures of Huckleberry Finn by Mark Twain830 Words  | 3 PagesThe Adventures of Huckleberry Finn by Mark Twain is â€Å"A Great American Novel†, because of its complexity and richness. Twain writes dialogue that brings his characters to life. He creates characters with unique voice and helps the reader connect to the book. Anyone who reads it is forced to develop feelings for each character. Even though there is a great amount of controversy over the use of some choices, such as the â€Å"n word†, it makes the book more realistic. In the beginning of the novel Huck,Read MoreThe Adventures Of Huckleberry Finn By Mark Twain1103 Words  | 5 PagesDmitri Van Duine Jr English Mr. Nelson November 27th The Adventures of Huckleberry Finn: Huck Finn and Tom Sawyer The Adventures of Huckleberry Finn, Written by Mark Twain filled his stories with many examples of satire as to convey a message while also writing an interesting story. The Adventures of Huckleberry Finn revolves around the adventures of a young boy called Huckleberry Finn, who is about thirteen years old. Tom Sawyer is Huck’s best friend and around the same age as Huck. He is onlyRead MoreThe Adventures Of Huckleberry Finn By Mark Twain Essay1055 Words  | 5 PagesZambrano Mrs. Patmor AP Lit-Period 5 28 September 2016 Adventures of Huckleberry Finn 1835 Mark Twain embodies realism in almost every aspect of his writing not excluding The Adventures of Huckleberry Finn, which in he portrays such a lifelike setting that it almost gives you this sense of reality through the point of view of a young man that has an urge for freedom yet struggles to conform to society s norms due to his adolescence. Twain s ability to unmask the true identities of the charactersRead MoreThe Adventures Of Huckleberry Finn By Mark Twain931 Words  | 4 PagesWolski Mrs. Goska English 2H Period 3 22 October 2014 The Adventures of Huckleberry Finn Mob mentality is the way an individual’s decisions become influenced by the often unprincipled actions of a crowd. Mark Twain penned The Adventures of Huckleberry Finn. Twain grew up in America’s southern states during the early 1800’s, a time in which moral confusion erupted within the minds of humans. The Adventures of Huckleberry Finn s protagonist is a young boy named Huck who freely travels alongRead MoreThe Adventures Of Huckleberry Finn By Mark Twain1375 Words  | 6 Pagesmention the years spent growing and maturing physically. Teenagers are stuck in an inbetween state where they must learn who they want to become and what they want to be when they grow older. The same is true for Huckleberry Finn, from the book â€Å"The Adventures of Huckleberry Finn†by Mark Twain. This is a book that was written in a time of great confusion over moral codes and standards. It was a world split in half by two different worlds of people; those who opposed, a nd those who promoted slavery.Read MoreMark Twain and The Adventures of Huckleberry Finn1575 Words  | 6 Pages Mark Twain and The Adventures of Huckleberry Finn Controversy Mark Twain, born Samuel Langhorne Clemens, is a highly recognizable figure in American literature. Born in Florida, Missouri Mark Twain and his family moved to Hannibal, Missouri where Twain discovered and fell in love with the mighty Mississippi River. The river and his life in Hannibal became his inspiration and guiding light in most of his writing. Although Twain loved the river and did a great deal of traveling, he eventuallyRead MoreThe Adventures Of Huckleberry Finn By Mark Twain2083 Words  | 9 PagesSatire in Huckleberry Finn In the novel â€Å"The Adventures of Huckleberry Finn†by Mark Twain, we are told a story about a young boy and his slave companion’s journey down the Mississippi River and all of their encounters with other characters. Twain constructed a beautiful narrative on how young Huck Finn, the protagonist in the story, learns about the world and from other adult characters, how he is shaped into his own person. At the time this book was made however, this novel provided serious socialRead MoreThe Adventures Of Huckleberry Finn By Mark Twain810 Words  | 4 PagesBefore Mark Twain started to write two of his most famous novels, The Adventures of Tom Sawyer and Adventures of Huckleberry Finn, Mark was known to use his characters to display his own thoughts and opinions. â€Å"This device allowed him to say just about anything he wanted, provided he could convincingly claim he was simply reporting what others had said.†(Twain, 1283). Mark Twain used this process to be a foundation of his lectures, by manipulating his popularly with his readers. During the storyRead MoreThe Adventures Of Huckleberry Finn By Mark Twain1005 Words  | 5 Pages In the Adventures of Huckleberry Finn written by Mark Twain in the 19th century is about a young boy named Huck Finn and Jim, a runaway slave who go on an adventure. The two travel on a raft along the Mississippi river creating a bond and making memories. Mark Twain presents Huckleberry Finn as a dynamic character who at first views Jim as property and eventually considers Jim as a friend, showing a change in maturity. In the beginning of the book, Huck Finn clearly sees Jim as nothing more thanRead MoreThe Adventures Of Huckleberry Finn By Mark Twain1335 Words  | 6 Pagesyear The Adventures of Huckleberry Finn is placed in the top ten banned books in America. People find the novel to be oppressing and racially insensitive due to its frequent use of the n-word and the portrayal of blacks as a Sambo caricature. However, this goes against Mark Twain’s intent of bringing awareness to the racism in America. The Adventures of Huckleberry Finn by Mark Twain is classified under the genre of satire and is narrated by a fictional character named Huckleberry Finn. The novel
Wednesday, December 11, 2019
Corporate Financial Management
Question: Discuss and provide an example answering three questions regarding subprime mortgage.With an example explain possible causes of financial crisis. Explain how financial crisis affectedbusinesses in your own country and other countries. Answer: Introduction: The world changed after the month of September of the year 2008. This all began as the slump in the country of United States and has now become the global crisis. All the rich as well as the poor countries became its target. This subprime mortgage crisis along with the crumple of the global financial markets led to the recession for the world economy. The country of Bangladesh is not so globalised but its exports depend upon the foreign trade. But its exports of the readymade garments, shrimps, and leather is heavily the demand of the western countries. Therefore, when the world experienced the recession, the unemployment rose, there was a decline in the income of the average consumers of the US and this led to a very negative impact of the export potentials. This report aims at discussing the causes of the subprime mortgage crisis and its impact on the world and on the country of Australia. Causes of the subprime mortgage crisis: It was being said that the reason behind the subprime mortgage crisis was the financial literacy. The banks were the ones that were handing out the loans along with the rating agencies. These rating agencies were working so recklessly that they filed to figure out that there were a pile of the subprime liar loans that had a rating of triple A. the mortgage brokers such as the Countrywide Financial were the ones that encouraged the wanted to be home owners to exaggerate their earnings. The media encouraged the people to buy the homes by saying that the times were different and this held good even when they were hugely in debt and had no money whatsoever to repay that debt. The banks and the lenders trusted the distribution channels that had belonged to the different roof and this took place through the mortgage brokers and the correspondents. They encouraged the people that were working for them to take as much loans as they could even if they were unable to repay the same. They did not consider the fact of the quality standards loans so as to ensure whether they would be able to be repaid or not. They just though that the loans were being sliced down and sold in bulk, so they give the same whose credit rating was negative. The mortgage meltdown began when the United States housing bubble busted and it all began during the year 2001 and reached its peak in the year 2005. The housing bubble is the economic bubble that took occurred in the local and the global estate markets. It is defined as the rapid increase in the valuation of the real property until there were some unsustainable levels that reached in relation to the incomes and the other such indicators of affordability. These rapid increases were followed by the fall in the prices of the houses and resulted in the mortgage debt that was higher than the price of the property. Effect of subprime mortgage crisis on Bangladesh: The following is the table for the value of Export of Bangladesh by Major Commodities during 2004-2011: Commod- ity 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11* a) Primary Goods Raw Jute 80 148 149 165 148 196 268 Tea 16 12 7 15 12 6 2 Frozen Food 390 459 515 534 455 445 471 Agricultural Product 41 105 88 120 122 189 186 Other Primary Goods 26 49 75 153 133 53 53 Total Primary Goods 553 773 832 988 870 884 980 b) Manufacturing Goods Jute goods 246 361 321 318 264 540 569 Leather 211 257 266 284 177 226 210 Naphtha, furnace oil 37 88 84 185 142 301 196 Readymade garments 3538 4084 4658 5167 5919 6013 5962 Knitwear 2148 3817 4554 5533 6429 6483 6605 Chemical Product 121 206 215 216 280 103 68 Shoe 68 95 136 170 187 204 222 Handicraft 4 4 8 5 6 4 3 Engineering products 42 111 237 220 189 311 222 Other mfg. products 663 730 867 1025 1096 1527 1170 Total mfg. goods 7050 9753 11346 13123 14695 15713 15227 Grand total 7603 10526 12178 14111 15565 16597 16207 Annual Change 16.10 21.63 15.69 15.87 10.31 6.63 40.30 After the collapse of the subprime mortgage crisis of the country of United States, many of the countries of the world got into deep depression. The country of Bangladesh whose economy was least dependent upon the economies of the other countries was less vulnerable to the risks since it was already taking the steps so as to shield itself from the adverse effects of the other economies. About 90% of the exports of Bangladesh is dependent upon United States and other such developed countries. The adverse effect of the recession had a negative effect on the growth of the export of the country. The country did try not to get affected by the recession since it held its head high during the first 6 months by not allowing the figure of exports of being dropped. But soon the country too started showing the effects and this impacted the exports. Though United States witnessed a serious meltdown, the currency started falling but the Bangladeshi Taka still remained fairly stable when compared with the US $. As the result, the exports became less competitive but the imports became cheaper. The exports of many of the items were turned down but the price of the essential commodities and the raw materials also declined in the domestic market. Conclusion: The main cause of the subprime mortgage crisis were the fall in the prices of the houses in the United States. This got coupled with the poor lending practices by the credit rating agencies and the financial institutions. This further led to the restrained economic growth of the country and led many of the people to lose their jobs. References: business.cch.com, (2015). The Subprime Lending Crisis: Causes and Effects of the Mortgage Meltdown. Eldis.org, (2015). Protifolon: Impact of global financial crisis on the economy of Bangladesh - Eldis. Olen, H. (2013). What caused the subprime mortgage crisis? Not our math skills. [Online] the Guardian. Robertson, C. (2015). What Caused the Mortgage Crisis. Corporate Financial Management Questions: 1. How their decision making could be related to capital budgeting techniques such as, Internal Rate of Return,in relation to Capital Budgeting Techniques? 2. Explain and identify similarities and differences between the following two models? Answers: 1. Sensitivity analysis: Capital budgeting can be defined as looking forward. When dealing with the anticipated resources and demands uncertainty forms the major factor. Sensitivity analysis can be defined as the statistical tool, which helps in determining the consequential deviations from the anticipated value (Bodie, Kane and Marcus 2014). Sensitivity analysis is concerned with locating the amount through which one can change the data input to generate the output of the liner-programming frameworkto comparatively remain unchanged. This assists in defining the sensitivity of data that is supplied for the problem and helps in measuring the optimum levels required for each of the input. Supporting the process of decision making and developing necessary recommendations required for decision makers. This helps in facilitating proper testing of robustness of the results derived. Sensitivity Analysis helps in enhancing the process of communication from the modelers to the decision makers by providing recommendations towards more trustworthy, comprehensible, convincing or credible decisions. Sensitivity analysis helps in increasing the understanding and quantification of the systems which helps in understanding the relationships amid the input and output variables (Borgonovo and Plischke 2016). Sensitivity analysis helps in development of model, which helps in searching and locating errors in the model. It is noteworthy to denote that to perform a sensitivity analysis all the necessary inputs and considerations are associated with aprocedure in order to yield the output (Dantzig 2016). For instance, a framework of inputs and considerations of an organisation is concerned with producing a new product mightcomprise of information concerning the projectedobtainability of raw material, rate of inflation aamount of workforce engaged in the research and development activity. The output will be regarded as the new profit, which will be produced by the fresh product (Vanderbei 2015). Therefore, sensitivity analysis involves altering each variable and monitors what compels changes in the output. Usually only one variable is alteredat once and all the other factors remained fixed at their base value. This helps in easy determination of number of variable effecting the output. However, it is noteworthy to denote that not all the inputs may be independent as changing inputs at one period is not concerned with the interaction amid the inputs. Figure 1: Figure reflecting sensitivity analysis (Source Cohon2013) Sensitivity analysis helps the management as the methodology of measuring the quantity of risk involved in the projected venture. Sensitivity analysis also facilitates computing the effect of variations relating to several quantifiable elements of a plan and helps the management to recognise the probable pitfalls (Luenberger and Ye 2015). Management can made the use of the sensitivity analysis, as a tool to locate the elements of a plan if changed to some extent will create an influence on the consequence of a project. It is noteworthy to denote that business engages in several form of risk since there is no assurance that a business will earn revenue. Organisationendeavours to reduce the degree of risk as much as possible by remaining engaged in actions that helps the business in earning profit. Managers usually makes the use of sensitivity analysis before executing the plan of a new venture of business activity. Sensitivity analysis helps the managers to assess the factors that wou ld help the project to yield profit by creating an impact on the net profit value of the planned activity (Charneset al. 2013). Managers determine the process of administering risk involved in the new project or activity provided their indulgence following the use of sensitivity analysis. Scenario analysis: Scenario analysis can be defined as the procedure of approximating the anticipated value of portfolio on a given period. This involves assuming the exact deviations in the values of the portfolio securities or key elements that takes place such as the change in the rate of interest (Gelmanet al. 2014). Scenario analysis is largely used to govern the changes in the value of portfolio concerning the unfavourable event, which might be used to evaluate a theoretical worst scenario. As a tool, sensitivity analysis consists of computing different rate of reinvestment for anticipated returns that is reinvested during the investment horizon. Depending upon the principles of statistics scenario analysis provides a procedure to estimate deviation in the value of portfolio. Such deviation is based on the occurrence of numerous circumstances which is referred as scenarios following the principles of what if analysis. The scenario analysis can be used as tool to measure the amount of risk, which is present in the given investment associated with variety of probable events ranging from highly probability to highly improbable (Luenberger and Ye 2015). Based on the results derived from analysis, an investor can measure the degree of risk present falling within his comfort zone. There are several different ways of approaching scenario analysis. One of the collective method is determining the standard deviation of day-to-day or monthly security returns and then calculating the anticipated value for each of the portfolio that generates return having standard deviation above or lower than the average return. Through this method aforecaster can obtain a sensible amount of certainty concerning the change in the value of a portfolio during a given time period. Scenario analysis process is used to measure the potential investment scenarios, which can be applied to several financial circumstances to determine the shift in values based on theoretical situations. From a consumers perspective, an individual can use the scenario analysis to evaluate certain financial outcome while making a purchase on credit as opposed to saving funds for cash purchase. Businesses on the other hand can make the use of scenario analysis to determine the probable financial results of certain decisions (Charneset al. 2013). For example, selecting one of two facilities or storefronts from which business functions can be conducted. This may consist of considerations such as differences in rent, charges associated with utilities and insurance or any kind of benefit that may be available in one location but not in other location. 2. Capital asset pricing model: The capital asset pricing model is considered as the most well-known model for determination of anticipated return on securities and other financial assets. It is regarded as the asset-pricing model since the price of an asset can be backed off once the anticipated return is determined. Furthermore, the anticipated amount of return derived from the CAPM or any other kind of asset pricing model may be used to discount the future cash flows (Barberiset al. 2015). Hence, such discounted amount of cash flow is then added to determine the price of an asset. The capital asset pricing model presented by William Sharpe and John Lintner marks the establishment of an asset pricing theory. The attraction of CAPM is largely due to the simple logic and intuitively pleasing predictions concerning the procedure to measure the risk along with the relation between the anticipated rate of return and risk. The model assumes the risk of investors as averse and at the time of making portfolio selection, it considers the mean variance concerning one period investment return (Nghiem 2015). Precisely, the relevant portfolio choice by the investors is mean variance efficient, which reduces the variance in portfolio return. The common notion behind the theory of CAPM is that the investors need to compensated in two ways namely, time value of money and risk. The time value of money is represented by the risk free rate and provides compensation to the investors for placing their money in any investment over a period (Dionne, Li and Okou 2013). The risk free rate can be considered as the yield on the government bond like US treasuries. The CAPM theory lays down that the anticipated amount of return of a security or the portfolio is equivalent to the rate of risk free rate with the risk of premium. If the anticipated rate of return fails to meet the required amount of return then investment are not taken into the consideration. Capital market line: The capital market line can be defined as the kind of graph, which arises from the capital asset pricing model. The Capital asset pricing model is used to determine the theoretically suited required rate of return on a particular asset when such assets about to form a part of the existing and well performing portfolio (Huesecken, Overesch and Tassius 2016). The capital market line is a useful tool, which helps in determining the rate of return amount of efficient portfolios. The analysis of capital market line relies on the risk free rate of return with the amount of risk involved in the portfolio. The Sharpe ratio derived from certain computation highlights the proportion of risk and extra return, which a portfolio provides. Portfolio having the highest amount of Sharpe ratio is considered as the market portfolio. Eachportfolio, which is included in the market portfolio,is optimized for a specified sum of risk. Due amount of consideration is given to the sum of risk which is associa ted with the particular asset. According to the capital asset pricing model the market portfolio lays down the efficient frontier. The efficient frontier can be considered as the ingathering of portfolios. When the market ratio is combined with the risk free asset, it is capable of generating higher rate of return than the efficient frontier (Christensen, Hail and Leuz 2016). The combination of market portfolio and the risk free rate paves the birth of capital market line. Several experts have expressed their opinion of preferring capital market line over the efficient frontier. The main reason behind such preference is that Capital Market Line takes into the consideration the additional risk of risk free asset in the portfolio. Figure 2: Figure representing Capital Market Line (Source: Christensen, Hail and Leuz 2016) Capital asset pricing model provides a graphical return on the market risk and return on assets for a given time period. The capital market line acts in the form of liner combinations of the risk free asset and portfolio. Thus, portfolio under the capital market line is considered as mediocre since it reflects new efficient set (Lee and Su 2014). Capital market line is assumed to remain within the capital asset pricing model since it can highlight the rate of return for efficient portfolios, which in most probable scenarios faces the risk of market portfolio, and risk free rate of return. Difference and similarities between the capital asset pricing model and the capital market line: The difference between the capital assets pricing model and the capital market line are is that the capital market line represents the line, which reflects the rate of return and relies on the risk free rate of return along with the level of risk for a particular portfolio (Pianosiet al. 2016). One of the major differences between the capital market line and the Capital asset pricing model is the procedure of measuring the risk factors. For capital market, line standard deviation is used to measure the risk whereas for Capital asset pricing model beta coefficient is used to determine the risk factors. One of major similarity between the capital assets pricing model and the capital market line is derived by drawing a tangible line from the point of interception where the anticipated rate of return is equivalent to the rate of risk free return. The capital market line determines the risk by using the concept of standard deviation or by implementing the total risk factors (Jagricet al. 2015). On the other hand, the Capital asset pricing model measures the risk through beta, which helps in determining the risk for security contributing to the portfolio. Another key difference between the capital market line and the Capital asset pricing model is that while the capital market line graphs defines the efficient portfolios, the Capital asset pricing model determines both the aspects of efficient and non-efficient portfolios. At the time of computation of returns, the anticipated amount of return for the capital market line portfolio is highlighted on the Y-axis. In contrary to this, the Capital asset pricing model the return for securities is represented along the X-axis (Gelmanet al. 2014). The standard deviation of the portfolio is highlighted on the X-axis for capital market line while the beta value of securities is determined on the X-axis for Capital asset pricing model. The market portfolio and the risk free assets are determined by the CML however, all the security factors is determined by the CAPM. References Barberis, N., Greenwood, R., Jin, L. and Shleifer, A., 2015. X-CAPM: An extrapolative capital asset pricing model.Journal of Financial Economics,115(1), pp.1-24. Bodie, Z., Kane, A. and Marcus, A.J., 2014.Investments, 10e. McGraw-Hill Education. Borgonovo, E. and Plischke, E., 2016. Sensitivity analysis: a review of recent advances.European Journal of Operational Research,248(3), pp.869-887. Charnes, A., Cooper, W.W., Lewin, A.Y. and Seiford, L.M. eds., 2013.Data envelopment analysis: Theory, methodology, and applications. Springer Science Business Media. Christensen, H.B., Hail, L. and Leuz, C., 2016. Capital-market effects of securities regulation: Prior conditions, implementation, and enforcement.Review of Financial Studies, p.hhw055. Cohon, J.L., 2013.Multiobjective programming and planning. Courier Corporation. Dantzig, G., 2016.Linear programming and extensions. Princeton university press. Dionne, G., Li, J. and Okou, C., 2013. An Extension of the Consuption-Based CAPM Model. Gelman, A., Carlin, J.B., Stern, H.S. and Rubin, D.B., 2014.Bayesian data analysis(Vol. 2). Boca Raton, FL, USA: Chapman Hall/CRC. Huesecken, B., Overesch, M. and Tassius, A., 2016. Capital Market Reaction to Tax Avoidance: Evidence from Luxleaks. Jagric, T., Podobnik, B., Strasek, S. and Jagric, V., 2015. Risk-adjusted performance of mutual funds: some tests.South-eastern Europe journal of Economics,5(2). Lee, M.C. and Su, L.E., 2014. Capital Market Line Based on Efficient Frontier of Portfolio with Borrowing and Lending Rate.Universal Journal of Accounting and Finance,2(4), pp.69-76. Luenberger, D.G. and Ye, Y., 2015.Linear and nonlinear programming(Vol. 228). Springer. Nghiem, L., 2015. Risk-return relationship: An empirical study of different statistical methods for estimating the Capital Asset Pricing Models (CAPM) and the Fama-French model for large cap stocks.arXiv preprint arXiv:1511.07101. Pianosi, F., Beven, K., Freer, J., Hall, J.W., Rougier, J., Stephenson, D.B. and Wagener, T., 2016. Sensitivity analysis of environmental models: A systematic review with practical workflow.Environmental Modelling Software,79, pp.214-232. Vanderbei, R.J., 2015.Linear programming. Springer.
Wednesday, December 4, 2019
An Element Of Arts And Science Essay Example For Students
An Element Of Arts And Science Essay Astrology provides a very debatable kind of knowledge that is generally assessed by the intelligent as a useless kind of knowledge, which only makes sense for the ignorant. At the same time astrology is usually associated with gypsies and hucksters, who are known for their deceptive and fake knowledge, as they try to deceive people for their own financial interest. On the other hand, we find people with high education attempting to study astrology and very much respect the kind of knowledge it offers them. Whether such knowledge offered through teaching astrology in universities is worth doing or to be considered an inapplicable knowledge for high education is a critical decision to make, which requires obtaining a great insight about astrology it self as an academic field in order to be able to make a correct assessment. Astrology is actually a combined form of knowledge that both combine both the element of art and of science in its essence. It contains the mathematical element as well as the artistic element o symbolism (Astrology 891). Scientists usually disregard the art side of astrology and focus on the basic mathematical part of it, as they judge it as useless and insignificant. This actually destroys the wholeness and balance within the realm itself. This may be considered a reason for misunderstanding the real value of knowledge in astrology. It is also a fact that every field is vulnerable to be used by ignorant people who devoid it totally of its meaning and value, in order to sell it as cheap as possible in a market of ignorance that unfortunately have many customers who are wiling to buy, again this helps in misunderstanding Astrology (Astrology 891); and as there is the presence of the competent and the incompetent in every field, and people usually search for the best in every profession, so why exclude Astrology (Astrology 896). Astrology requires a sophisticated kind of thinking as it combines artistic and scientific knowledge, it can therefore never be considered as insignificant knowledge. It may not be appreciated by scientists due to the artistic element provided within it, and their total dependence on reason for discovering reality since the onset of the renaissance; thus reviving such forms of knowledge actually, shows the evolution of knowledge and thinking that reflects the significance of intuitive forms of knowledge besides the pure rational ones. The astrological knowledge in itself consists of a natural balance between intuitive and rational knowledge, and disturbing this balance will only lead to the production of inconsistent forms of knowledge that seem to appear on the surface to help in the generation of misunderstandings regarding astrology. The argument of scientists against Astrology reflects the on going disagreement between scientific knowledge and intuitive forms of knowledge. Scientists never admit the truth in any intuitive understanding, and they usually regarded as invalid. They never accept the fact the mystery is part of reality and that the rational mind can never be able to reach full understanding of the universe. Astrology is a balanced kind of knowledge as it respects both forms of thinking, which in fact a respect for nature and for the human being as part of that nature. I feel that the purpose of a reading is to understand ones life challenges And potential, to provide an opportunity for self reflection and life Evaluation, as well as to confirm ones intuitive sense of what ones Life is about (Astrology 895). Human beings as well as nature are made of matter and soul that can never be detached from each other as long as life is there. How can scientists reach the truth if they are actually altering the natural balance in life by looking for material proof and ignoring the intuitive reality of nature? The soul remains a mystery that can never be explained by scientific truth, and science can not resolve the question of life and death. There fore, accepting astrology as a significant form of knowledge by a scientist is truly a question of him admitting intuition as a part of reality. .u198a9e4559a3b67746c27d4b66d4a678 , .u198a9e4559a3b67746c27d4b66d4a678 .postImageUrl , .u198a9e4559a3b67746c27d4b66d4a678 .centered-text-area { min-height: 80px; position: relative; } .u198a9e4559a3b67746c27d4b66d4a678 , .u198a9e4559a3b67746c27d4b66d4a678:hover , .u198a9e4559a3b67746c27d4b66d4a678:visited , .u198a9e4559a3b67746c27d4b66d4a678:active { border:0!important; } .u198a9e4559a3b67746c27d4b66d4a678 .clearfix:after { content: ""; display: table; clear: both; } .u198a9e4559a3b67746c27d4b66d4a678 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u198a9e4559a3b67746c27d4b66d4a678:active , .u198a9e4559a3b67746c27d4b66d4a678:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u198a9e4559a3b67746c27d4b66d4a678 .centered-text-area { width: 100%; position: relative ; } .u198a9e4559a3b67746c27d4b66d4a678 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u198a9e4559a3b67746c27d4b66d4a678 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u198a9e4559a3b67746c27d4b66d4a678 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u198a9e4559a3b67746c27d4b66d4a678:hover .ctaButton { background-color: #34495E!important; } .u198a9e4559a3b67746c27d4b66d4a678 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u198a9e4559a3b67746c27d4b66d4a678 .u198a9e4559a3b67746c27d4b66d4a678-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u198a9e4559a3b67746c27d4b66d4a678:after { content: ""; display: block; clear: both; } READ: History--Historical Analysis Of Jerzy Kosinskis The Painted Bird The P EssayFrom another side, if the issue had not been on intuition, regarding astrology, it is still a form of knowledge that surely provides the individual with some insight about life and introduces him to different kinds of thinking; it should be even credited for this reason alone, my studies in Astrology, as well as in other fields, are attempts to understand the grand design of the whole (Astrology 894). Scientists also accuse Astrological interpretive knowledge of not being exact stars incline but do not compel (A critical 882), and this fact works against scientific logic which is sharp and determi nant. But actually, life in it self is never exact or straight forward and clear as mathematical knowledge entails for instance. Astrology may actually provide the best for of understanding of life and nature; it allows people to understand reality the way it is without trying to alter its nature. The whole issue of prediction and future related knowledge can never be definite or fully explainable, to discuss future probabilities is much like giving a weather report (Astrology 896). On the other hand, it should be admitted that Astrological knowledge may help in creating dependent and weak individuals, if they used it wrongly. It might lead them to spin in a cycle, which they might not be able to break. People can stress too much on the intuitive knowledge in Astrology and thus once again altering its balance of logic and intuition and thus getting again a wrong insight about life and nature, with an accompanied change in personality and attitude to life Astrology, when practiced as completely as possible, takes away from ach of us our right and duty to make our own personal decisions (A Critical 882). In the case of a scientist who puts great emphasis on logic and excludes intuition, makes him a rough and rigid person who stands weak in front of the scientifically unexplained mysteries of the world; while in the case of the ignorant who does the opposite to give too much significance to intuition and disregards reason suffers another kind of weakness that creates a dependent and shattered personality. But again we must also admit that this would be the case with any field if wrongly interpreted. All in all, I believe that Astrology is a sophisticated form of knowledge that should be respected for the special thinking abilities it provides an individual who studies it. It also reflects on the importance of providing a balance between Art and Science, and thus between logic and intuition, which is found deep within the nature of man and the universe he lives in. I would very strongly recommend all institutions of high education to teach Astrology in order to correct the misunderstanding entitled to it, and thus expose the rich and deep knowledge it provides.
Subscribe to:
Posts (Atom)