Quantitative Risk Analysis in Investment Essay Example | Topics and Well Written Essays - 2000 words

Quantitative Risk Analysis in Investment - Essay Example Risk analysis is common now-a-days in all types of investment as the modern risk management literature has grown significantly. Many theories and models have been developed in the area of risk management by eminent thinkers. This paper takes a look at the classical risk analysis framework, namely mean-variance framework. The essay takes a descriptive approach wherein the mean variance model is discussed in the context of single as well as portfolio investment. An attempt is also made to incorporate the application of the model in pricing of insurance policies. Risk analysis in the context of investment is the process of quantifying the possibility of incurring loss to the return from the investment. The return from an investment is prone to risk when the actual return varies from expected return. Since risk measures the possibility of incurring an outcome, it can be measured with the help of probability and other statistical measures. As defined by T. V Bedford, risk analysis is the process of identification and quantification of scenarios, probabilities and consequences (Bedford 2001 p. 11). It is notable here that risk analysis cannot be possible without measuring return from the investment as risk and return are correlated and risk measures how actual return varies from expected return. ... Risk analysis of individual security investment is relatively easy as compared to that of portfolio. Risk Analysis in Portfolio Investment Portfolio is the collection of securities selected for investment. The logic behind investors' preference for portfolio rather than individual security is that the risks in portfolio can be reduced more easily than that of individual security. In other words, portfolio facilitates the risk diversification through spreading risks across all securities in the portfolio. The loss in one security can be nullified by the profit from another security/ securities in a portfolio. Calculation of Expected Return The analysis of risk in a portfolio is possible only after measuring return there from. The level of return expected from an investment is calculated by using the expected value of the distribution, and the probability distribution of expected returns for a portfolio. Then, risk is measured by the degree of variability around the expected value of the probability distribution of returns. The most accepted measures of this variability are the variance and standard deviation (Frank 2002 p. 21). The expected return from a portfolio can be estimated with the following model: (Source: Frank 2002 p. 21) Where, = 1.0; n = the number of securities; = the proportion of the funds invested in security i; = the return on i th security and portfolio p; and = The expectation of the variable in the parentheses (Source: Frank 2002 p. 21) Calculation of Portfolio Risk Risk is the chance that actual return will differ from their expected values. The expected value of return can be obtained from probability estimates for expected

International context in marketing and how media theories can be Essay

International context in marketing and how media theories can be apllied to ctreate strong relationship with consumers in the modern market - Essay Example ‘Marketing is an organizational function for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. It is a management process of anticipating, identifying and satisfying customer requirements profitably.’ (Berzins) Globalization has created revolutionary changes in all over the world. Most of the organizational principles have been redefined because of globalization. Most of the organizations believe that globalization has opened up the doors of immense possibilities for them and hence they are spending millions of dollars in finding the right strategies to exploit the possibilities. For a business organization, globalization has created immense opportunities for marketing their products in international market. But for exploiting the possibilities of the modern global market, organizations need to innovate marketing strategies along with the existing ones suitable for different countries. The business world has already developed several types of new marketing techniques like telemarketing, direct marketing, marketing through ads, sensory marketing, etc apart from the conventional marketing activities. Most of the big business tycoons are expanding their activities to overseas countries in order to capitalize the possibilities of globalization. Small or medium scale businesses are suffering because of the immense competition from the MNCs. It is difficult for the small business groups to operate profitably by overcoming the stiff challenges for the corporate. Big organizations always have immense resources, and facilities which they will utilize to monopolize the market. Moreover they have the better equipped Research and Development (R&D) wing to facilitate their operations by providing required data about the changing trends of consumers. The conventional marketing

Introduction to Cooking Essay Example for Free

Introduction to Cooking Essay Carbohydrates – Starches and sugars are present in foods in many forms 2 Most Important Changes in Carbohydrates Caused by Heat are: 1. Caramelization – browning of sugars; browning of sauteed veggies and golden colour of breads are sample of Caramelization 2. Gelatinization – when starches absorb water and swell; a major principle in the thickening of sauces and in the production of breads and pastries *ACIDS inhibit gelatinization. A sauce thickened with flour or starch will be thinner if it contains acid. FRUIT VEGETABLE FIBER FIBER – group of complex substances that give structure and firmness to plants. Fiber can’t be digested. See more: how to write an introduction The softening of fruits vegetables in cooking is part of the breaking down of fiber. Sugar makes fiber firmer Baking soda makes fiber softer. Vegetables become mushy and lose vitamins PROTEINS a major component of meats, poultry, fish, eggs milk products consist a long chain of components called amino acids COAGULATION – when the proteins unwind, they become attracted to each other and form bonds the coagulated proteins form a solid network of bonds and become firm most proteins complete coagulation are cooked at 160-186Â °F MAILLARD REACTION – is what happens when meat browns happens only on the dry surface of food. CONNECTIVE TISSUES – special proteins present in meat (separates the meat from the bone) FATS are present in meat, fish, poultry, egg, milk products. Important medium for frying Liquid fats are called OIL When heated, they begin to breakdown When hit enough, they begin to smoke and deteriorate rapidly.

The Benefits Of Youth Sports

The Benefits Of Youth Sports A sport is a competitive, organized, entertaining, and dexterous physical movement requiring dedication, fair play, and strategy, and in which a winner can be distinct by objective means. It is controlled by a set of customs or rules. In sports the main factors are the xl capabilities which are physical and skills of the contestant when determining the ending be it losing or winning. The physical activity involves people movement, animals and/or a number of objects like balls and equipment or machines. In contrast, games like board games and card games; even though these can be called mind sports and some are accepted as Olympic sports, entail primarily psychological skills and only mental physical connection. Non-competitive practices, for example playing catch or jogging are usually identified as forms of recreation. (Harper, 2008)Physical actions like scoring goals or first crossing a line often define the outcome of a sport. On the other hand, performance and the degree of skill in some sports such as dressage, diving, and figure skating is judged with reference to well-defined specifications. This is in distinction with other activities judged such as body building and beauty pageants, where skill do not have to be revealed and the criteria are as well not defined. Records are kept back and updated for many sports at the top levels, whereas accomplishments and failures are generally announced in sport news. Sports are at a large amount often played only for fun or for the single reality that people require exercise to stay in fine physical condition. Nevertheless, professional sports are a major resource for entertainment. This is so because they not only excite the players but they usually attract large crowds who turn up to watch other playing. (Mandel) A youth sport on the other hand is a sport for young people to carry out, up to about an age range of 10 à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ 20 years are youths and they just do sports by coming together. (www.wikiansers.com). A detailed review as to the benefits of sports to the youth has been carried here-in. Sports have several benefits to those participating in them which ensure that they impart a positive impact in their lives. Youth reap many benefits from performance in sports, these includes a healthier body, self-discipline, self-confidence, and stronger relations with peers and adults. The skill youth acquire while participating in sports interpret to their additional activities and commitments, including school performance and family relationships. While young athletes expand their bodies, their minds also develop concurrently. Youth sports builds self-discipline amongst the young people. Through the commitment to a team and basically making it to each practice session is an initial step, for lots of young athletes. Involvement in youth sports also provides a ground for confidence growth. Self-confidence does not appear naturally to every person. Amusingly, one of the finest ways to increasing self-confidence is to be found in demanding situations. Challenges give an opportunity for youth to find out solutions on their own, and garner the consequences of whichever resolution they make. youths Participation in sports therefore presents such opportunities each and every time and againhow to attain on a breakaway in football, how to beat a defender while in a quick counter in basketball, or even how to talk to a colleague about his practice of failing to pass the ball often enough. Challenges, whether physical, or emotional can expand confidence in youth. Youth Participation in sports provides sufficient opportunities for them to build sturdy friendships with their peers and mentoring associations with their coaches. Young athletes profit from working together to arrive at various goals. Players become skilled at how to set the team ahead of their personal interests, this helps them develops the quality of unselfishness. Teams of athletes do not at all times get along perfectly, and putting out-of-the-way differences to play effectively together is another significant lesson to be used throughout life. When kids play sports they expand an understanding as to what their bodies is able do. Youthful athletes are often courageous, sacrificing their bodies to obstruct a kick or dive for a free ball. Playing amid this type of abandon can be very fit, and it promotes a belief in their bodies abilities. Ordinary practices and games build sturdy bones and muscles. While athletes are still young, the spotlight should be on education, having fun and being fit. (www.livestrong.com). Participation in sports improves youths health in the following areas; causes a major improvements in cardiovascular strength, as long as they are performed frequently, improves muscular power (as calculated by handgrip power)which leads to an increased coping rate ability and decreases the risks of functional restrictions in later life ,provides a major improvement in the Mental Health section Score in the first 3 months of partaking, waist-to-hip ratio also reduce in the first three months, also about a third more calories can be burnt in only an hour of some Green Gym activities instead of doing a step aerobics class (Bigelow). While athlete takes part in a sport, they will experience a lot of benefits. A number of of these will be easily recognized and short-term. While others will not be recognized easily, except will end with the athlete a lot longer and will assist form their general growth. They increase and become experts at the various sports skills they participate in. this is because they practice for quite a long time to become a force to reckon with and as we know à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¹Ã…“practice practice makes perfectà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ there is no doubt they eventually become experts in their fields. Sport offer youth a chance to improve their capacity to make decisions and acknowledge responsibilities. This is so because many sports entail making a lot of decisions. For example in football one has to make the right decision when to pass the ball or when to score. It is the same in most mind sport where it is usually a single mistake and you are done, therefore a lot of decision has to be made on the moves to take. Since sports give youth a chance to make various decisions they are able to differentiate good from bad decisions. (www.ehow.com) Youth can develop an interest in ongoing sports involvement even as adults this will mean taking that sport as your carrier. It is worth noting that a large number of families are fed by various sportsmen who engage in only sporting activities. sports has therefore proved to be a source of income to the youth who are participating in them and so many youth should be encouraged to participate in the same. This incomes earned from youth sports are taxed by the government where earned this means that through youth sports a country is able to earn income which it can use in carrying out any of its development agendas. Further, through sports that youth expand a sense of achievement, that helps develop a constructive self-image. Sports also facilitate youth learning to articulate and appreciate their thought, emotions, and admiration for what their bodies can do. They also develop skills on agility, endurance, flexibility, coordination, speed and strength. (www.ultimate-youth-basketball-guide.com) Involvement in sports also avails the opportunities for socialization and leadership, as well as the expansion of skills used for managing failure and success. If you are one of the really talented and qualified players on your team, you are probable in a spot to put into effect team leadership. As one way to guide is to do the same by example. When a talented player demonstrates an optimistic attitude and occupation ethic, all the other players will be likely to follow this example. A number of players will also watch how others play and obviously pick up on some of their techniques and skills. (www.yuothsportspschology.com) Moreover, when playing games, players find out how rules operate. They see how groups require policy to maintain order, that the person must agree to the regulations for the benefit of the group that rules involve a deliberation of the civil rights of others. They as well gain knowledge of the competition, however within a limited and secure system where the penalty of losing is reduced. In addition, sports offer an exclusive arena in which youth can successfully put forth their talents. The arena is exclusive for two reasons. Foremost, sports engage the person as an entire person: all facets-not only cognitive, but also physical, social, and psychological-are engaged pleasantly in striving toward peak accomplishment. Secondly, sports engage youths working in a continuing community consisting of their friends as well as their friends families. Sports, that is, present children an exciting, rewarding, and satisfying way to participate in a bigger world not usually accessible to non athletes. (www.ncpad.com) The participation of youth in sports ensures they learn time management skills and the value of planning in advance. This is true because through the kind of training they undergo while in sports entails following schedules given to them by their coaches, this help them learn a lot of time management skills as they also have to be able to balance between their sports and other activities like studies and family relationships. Sports teaches youth how to deal with hardship by showing them it is fine to make a mistake. Sports give them the opportunity to learn from their mistakes as well as the significance of moving on once a mistake has been done. It is in the same sports where the youth learn that life is not a sooth path as it entails both ups and downs .i.e. there times in life when one can succeed but there are still others when one can fail. Sports offer youth an opportunity of learning a lot of teamwork skills. This is so since many sports involve working together. Most sports are those that require cooperation of several persons for achievement to be evident. Youths can apply the skill they acquire through the experience of playing together in real life situation. This in the long run proves to be beneficial to the youth. Sports Provides the youth with an outlet for channeling their energy. This is a benefit that should not be down played because it is evident youths have a lot of energy to use and sports provide them an avenue to spend their energy and not wasting it in activities that can be harmful to them. For example the time and energy they spend in sports could be spending idling, taking drugs and having sex which could risk their lives. Sports act a stress relief for the youths which can be as a result of academic and social pressures. This is because it has already been proved that nervousness and pressure can be condensed with participation sports. After long hours in classes student can have a nice time in the fields or various sports places where they relive all academic related pressure. (www.getwyrd.org) It is in youth sports where those youths tend to learn one another. Since they work and train together they tend to understand each other weaknesses and strong areas thus promoting good relationship among people. youth sport also promote peace all over the world as different youth from different nation may be converged by a single sport and for the benefit of their team they will have to establish a good rapport. Some youth sports are used as a tool for tourist attraction for several countries thus earning these countries foreign exchange, for example through youth sports many foreigners visit different countries and spend in those countries increasing the national income of such countries. Youth sports have created a lot of employment opportunities. There are so many advertisements relating to youth sports, many players also require other goods and services like they eat and dress thus providing market to other goods. Many people also work in sports arenas like pitches, stadium and many more. This means were it not for the sports such facilities could not exist and thus all those people working in those facilities could be unemployed. This are only but few example of the employment opportunities brought about by youth sports. (Committee, 2005) Promotion of youth sports has greatly reduced the spread of HIV/AIDS. This is so because the youths instead of engaging in activities that promote the deadly virus instead spend their precious time in taking part in various sports. This sport has also facilitated their training on the effect and impacts of the disease as while they are in those various sporting teams they still learn more about the disease. (hyman, 2010) Youth sport has also lead to improved infrastructure in many regions. This is so because sports facilities have to be accompanied by good means of accessing these facilities thus infrastructure like good roads has to be established which are of benefit to all. In conclusion it would be very correct to say that youth sports have a lot of benefits to the youths, parents, the society and the government at large.

The Mandolin :: essays research papers

The Mandolin The mandolin has been around since the end of the 16th Century, although it didn’t look much like the instrument we know today. It evolved in the 18th century and was built in several varieties in different Italian towns, the Neapolitan mandolin becoming the representative type. It was played widely throughout Western Europe from around 1700 to 1810. In the late 1800s a stronger bowl back instrument was developed in Naples, Italy by the Vinaccia family. Known today as the Neapolitan mandolin, this instrument has a bent soundboard, moveable bridge, metal strings and is plucked with a pick. At the end of the 1800s, the Neapolitan mandolin was popular both in Italy and throughout Western Europe. It spread to the U.S. with Italian immigration. The instrument conceived by the Gibson Company in the early 1900s today dominates the Mandolin in the U.S. Built more like a violin with carved single pieces of wood for the front and back, most modern American flat backs are based on Gibson designs. All three of these instruments: Baroque mandolin, round back or Neapolitan mandolin and flat back mandolin, are still played and the musical traditions from the different periods survive on all continents. Mandolins evolved from the Lute family in Italy during the 17th -18th centuries, and the deep bowled mandolin produced particularly in Naples became a common type in the19th century. The original instrument was the mandola (mandorla is almond in Italian and describes the instrument body shape) and evolved in the 15th century from the lute. Later, smaller mandola was developed and became known as a mandolina. Mandolins can be used for a variety of occasions. The Italian mandolin is used for birthdays, or births of a baby. Anniversaries, and especially weddings, I know my parents had a mandolin at there wedding. Mandolins have a soft and gentle sound perfect for these occasions. The mandolin is played kind of like a guitar, but has obvious differences. There are many artists that play the mandolin, but the only one that I know of is my Aunt. (Adriana Vitale). She has not mastered the mandolin but she can play decent, sometimes. She said â€Å"When played right the mandolin has a nice deep gentle sound and sounds as beautiful as it looks, but when I play it, it sounds like a ukulele†.

Mykhailo Hrushevsky :: Hrushevsky Ukranian Author Biography Essays

Mykhailo Hrushevsky When one thinks of great Ukrainians a few names come to mind and right at the top of that list is Mykhailo Hrushevsky. This man was a renassaince man on his worst day. He was an author, publicist, political and civic leader, and the most prominent Ukrainian historian. The kind of man that Hrushevsky was, is a the kind of man that makes nations great. â€Å"Mykhailo Hrushevsky was born in the town of Kholm (now it is situated in the territory of Poland) in 1866.†[2] He lived in this are until he was only 3 when his family moved to Caucasia. â€Å"He graduated from the classical gymnasium, which is a type of academic school, in Tiflis (now Tbilisi) (1886)†[3]. It was during this time that Hrushevsky started to write letters and such that were good enough to be published. After his time at the gymnasium, Hrushevsky went on to the Kyiv University where he studied under the famed historian V. Antonovych[4]. He graduated in high regards in 1890 and published his first scholarly work, South Ruthenian Feudal Castles in the Mid-16th Century, in the same year.[5] He continued to write and study and earned a masters degree in 1894. After his degree had been earned Hrushevsky was appointed professor of the newly created chair of Ukrainian history at Lviv University, by the recommendation of V. Antonovych.[6] Hrushevsky’s time at Lviv was one of extraordinary production. He became very active in the Ntsh, also known as the Shevchenko Scientific Society. He ran fundraisers and earned much needed funds for the association. He founded a library and a museum for the association. He brought many scholars into the association and also made outside contacts. He transformed the group’s journal from a yearly to a monthly publication[7]. Also, he established an archeological part of the association in 1895. Mykhailo Hrushevsky :: Hrushevsky Ukranian Author Biography Essays Mykhailo Hrushevsky When one thinks of great Ukrainians a few names come to mind and right at the top of that list is Mykhailo Hrushevsky. This man was a renassaince man on his worst day. He was an author, publicist, political and civic leader, and the most prominent Ukrainian historian. The kind of man that Hrushevsky was, is a the kind of man that makes nations great. â€Å"Mykhailo Hrushevsky was born in the town of Kholm (now it is situated in the territory of Poland) in 1866.†[2] He lived in this are until he was only 3 when his family moved to Caucasia. â€Å"He graduated from the classical gymnasium, which is a type of academic school, in Tiflis (now Tbilisi) (1886)†[3]. It was during this time that Hrushevsky started to write letters and such that were good enough to be published. After his time at the gymnasium, Hrushevsky went on to the Kyiv University where he studied under the famed historian V. Antonovych[4]. He graduated in high regards in 1890 and published his first scholarly work, South Ruthenian Feudal Castles in the Mid-16th Century, in the same year.[5] He continued to write and study and earned a masters degree in 1894. After his degree had been earned Hrushevsky was appointed professor of the newly created chair of Ukrainian history at Lviv University, by the recommendation of V. Antonovych.[6] Hrushevsky’s time at Lviv was one of extraordinary production. He became very active in the Ntsh, also known as the Shevchenko Scientific Society. He ran fundraisers and earned much needed funds for the association. He founded a library and a museum for the association. He brought many scholars into the association and also made outside contacts. He transformed the group’s journal from a yearly to a monthly publication[7]. Also, he established an archeological part of the association in 1895.

No Cigarettes, No Smoking

The harm of smoking is a hot issue which has being discussed in many countries for a long time. There are 1. 2 billion of smokers in this world, which is one-fifth of the world population. The Centers for Disease Control and Prevention reported that adult male smokers lost an average of 13. 2 years of life and female smokers lost 14. 5 years of life because of smoking. Even though people know that cigarette is bad for health, they still have freedom of smoking. Nowadays, both producing and smoking cigarettes are still free choices especially in America because as Americans we first protect our freedoms and the government gives us rights to choose our own ways of life include the free market economy for producing cigarettes and the freedom of smoking. But cigarettes have nothing good for health. It not only kills the smokers themselves but also harms the non-smokers by breathing second-hand smokers, which should be considered as murder. So governments should make law to stop producing cigarettes completely. Smoking cigarettes may increase the risk of many health problems. According to the 1982 United States Surgeon General's report, â€Å"Cigarette smoking is the major single cause of cancer mortality [death] in the United States. † Cigarette smoking is the leading cause of 90% of lung cancers which is one of the hardest cancers to treat and others cancers in the mouth, larynx, esophagus, kidney. It may also cause heart disease, aneurysms and stroke, etc. Besides, breathing secondhand smoke is also harmful, just like the 2006 US Surgeon General's report said that the secondhand smoke kills children and adults who don't smoke. So, we should find a way to save the lives of the smokers and protect the non-smokers from smoking. There are already variety ways to control smoking, but none of these ideas can stop smoking completely. For example, people think schools should teach kids and teenagers about the harms of smoking because education is the best way to keep their children out of reach of cigarettes. All the high schools in United States have health class which teaches teenagers the health problems that would caused by smoking. I remember that when I was in high school, we had two speakers telling us their smoking experiences. They are two old men who had smoked or many years and when they talked to us, they had to breathe through a hole in their throat. After that class, I felt that I hate smoking much more than before, and I believed that class would help motivate teenagers to get away from cigarettes. However, there are still many teenage smokers who don’t care enough about their own health, the y just want to get the short term excitement but never think about the long term effects. According to Harris’s statement in â€Å"The Tipping Point†, even early education of dangers of smoking doesn't work so well. â€Å"Telling teenagers about the health risks of smoking — It will make you wrinkled! It will make you impotent! It will make you dead! — is useless† (The Tipping Point 249). This tells us another truth which is that children don’t care about what adults are saying, but what they are doing. It is impossible for adults to produce and smoke cigarettes, and teach the children not to smoke at the same time. Tobacco products in the UAE found another way to discourage smoking. They carry graphics of blackened lungs and a hemorrhaged-impacted brain on cigarette packs to warn the smokers about the dangers of smoking. This is only a reminder of the dangers of smoking but not an action to stop it. Smokers will buy cigarettes no matter what graphic is on the pack, and the problem of smoking will be still there unsolved. Making law to ban smoking seems like a good idea and many governments have doing it. Singapore is the best example of smoking ban and it has been extended to almost all the public places. According to the present law of smoking ban in Singapore, â€Å"Smokers found flouting the rules are fined a minimum S $200 Singapore dollar up to a maximum of S$1000 if convicted in court, while the managers of the establishments are fined S$200 for a first offence, and S$500 for a subsequent offence. This idea is much better than others. But the problem is that no matter what punishment is it, if someone wants to have a cigarette, they will always find a place to smoke. Besides the examples that I mentioned above, in Gladwell’s book, he also states many other things that people have tried for controlling smoking. â€Å"The anti-smoking movement has focused, so far, on raising cigarette prices, curtailing cigarette advertising, running public health messages on radio and television, limiting access of cigarettes to minors, and drilling anti-tobacco messages into schoolchildren. (TP 250) If any of these ideas have been worked out, we won’t be discussing smoking issue now. I believe that all the methods include the anti-smoking movement are helpful to control smoking and discourage people to smoke less. But we have to face the truth which is that once there are people producing cigarettes, there will be people smoking. In fact cigarette is the guilty agent and it should not be produced. Thus, stop producing cigarettes is the only solution to solve the smoking problem thoroughly and save people’s lives. In the past, we have to use many different ways to discourage smoking because people smoke for different reasons. But if there’s no cigarette in this planet, people who smoke for relieving stress and boosting mood will find other healthy activities to do to relax themselves instead of smoking. Many teenagers who smoke because they’re curious, want to try something dangerous, or to act like adults, won’t have these kinds of thoughts at all if no one around them smoke. And for the heavy smokers who are already addicted and failed to quit smoking, there will be no more temptation. Since here is a solution which can solve all the problems at one time, why don’t we try it? Stop producing cigarettes will affect the benefits of the Cigarettes Company producers and the governments, and it may also lead to unemployment in tobacco industry, so it is the governments’ responsibility to make a law of it to lead and urge all the people include the producers and the smokers to practice together and make this solution works. Although it is not an easy thing to do and it must take long time to be done, we should start from small step and make it come true, because no matter which country we are from, as human we suppose to have at least one common value that health is much more important than material benefits, in fact it is the most important thing in everyone’s life.