Portfolio Investment Theory Essay Example | Topics and Well Written Essays - 1000 words

Portfolio Investment Theory - Essay Example At portfolio balance theory national and foreign assets are imperfect substitutes; market participants are holding both types of assets at equilibrium. Macroeconomic shocks are affecting expected returns of national and foreign assets and changes relative asset demands. Assets markets are balanced with a change in exchange rate. Current and capital accounts surpluses/deficits are among the most important macroeconomic shocks affecting relative asset demand. In portfolio balance theory a sterilized sale of foreign currency denominated bonds by Central bank creates an excess supply for foreign currency denominated bonds and an excess demand for domestic currency denominated bonds. For market to come to the equilibrium price of the domestic bonds must rise and price of foreign bonds must fall. That means that domestic interest rate must fall and foreign interest rate must rise. Domestic currency must appreciate in order to equalize real returns on both assets. (Kereya, I. 2002) Rational investors would tend to choose more value over less, and usually prefer to limit and minimize their risk. There are many optimal portfolios offered by dealers and brokers on the forex market that an investor can utilize to support his goals. Over time a balanced portfolio, by diversification, helps to increase investors' chances of success.These portfolios are formed by bringing together groups of assets in different proportions, and then setting out to ascertain the resultant amount of risk and returns associated with each group of assets.A balanced Portfolio investment approach assumes imperfection in assets that are denominated in foreign and domestic currencies. Investors in the foreign exchange market should be able to diversify their investments between domestic and foreign assets, based on the amount of risk and the returns expected. Sterilized intervention in forex alters the relative supply of foreign and domestic funds available, and investors tend to rebalance th eir portfolios, since exchange rates can be affected due to fluctuations in the relative supply of foreign and domestic assets.A balanced Portfolio investment Strategy also aims to achieve the right combination of growth, risk and income for investors that want a management approach that is conservative, and which includes bonds, stocks, and cash. Another channel of sterilized intervention impact in the foreign exchange market is the noise trading approach. Noise traders are traders that utilize statistical or technical analysis in order to forecast the future price of a given asset. unlike traders who consider the fundamental value assets before and buying or selling the assets, These traders try to identify a price trend and also consider the behavioral pattern of fellow traders, using these as a source of information. This though, can lead to a rise to the tendency towards herding. It is also possible to use sterilized foreign exchange intervention to disrupt short-run trends and this might affect the decisions made

The Great Healthcare Debate: Liberalism versus Conservatism

The Great Healthcare Debate: Liberalism versus Conservatism Alex Fisher A large issue in todays society is healthcare. The clashing ideas about what should be done within the realm of healthcare is such a big deal now more than ever since we have a recently elected president. Much like other issues, there are clashing ideas from different political parties; this case will highlight those of liberals and conservatives. It is important to note that liberals and conservatives tend to clash on all aspects of healthcare such as: amount of government intervention, access or entitlement to healthcare, and federally mandated insurance. Furthermore, it must be stated that each partys stance on these aspects demonstrates a key idea or pillar of their party. The first main aspect of the healthcare debate between the two parties is the amount or level of government involvement. The conservative side argues for minimal government involvement so that healthcare, just like the overall economy, runs like a free market. This facet of the conservative healthcare argument can be traced back to the concept that the conservative perceives the need for prudent restraints upon power and upon human passions (Kirk, 4). Kirk further explains this point of view by stating that The conservative endeavors to so limit and balance political power that anarchy or tyranny may not arise (4). Additionally, this point of view can also be traced back to the conservative concept that there must survive orders and classes, differences in material condition, and many sorts of inequality attempts at levelling must lead, at best, to social stagnation (3). Essentially, Kirk is explaining that conservatives believe that unless there is a natural hierarchy with competiti on, a society will stagnate or lose the ability to progress. After piecing together these pillars of conservative view, it is not surprising that the current conservative argument is for healthcare to be run like any other business in our economy with free market ideals. With this being said, there is a liberal side to the argument of government involvement in healthcare. Their point of view is the complete opposite of the conservatives in that they believe that everyone in the healthcare field should be equal, therefore getting rid of the competition that fuels the free market. The liberal background that influences this point of view is a bit more complex than that of conservatives. One concept in liberalism is that there is a natural state in which mankind falls into. This state of nature involves a natural hierarchy of physical and mental strength; however, it must be stated that this hierarchy will lead to competition; For as to the strength of body, the weakest has strength enough to kill the strongest, wither by secret machination or by confederacy with others that are in the same danger with himself (Hobbes, 1). At first, this concept seems to parallel with the competition and free market ideals of conservatism. However, there is a caveat to this liberal view. Liberals recognize this state of nature, and then argue that mankind should forgo this state for the good of society. Hobbes explains that during the time men live without a common power to keep them all in awe, they are in that condition which is called war (2). This statement explains the idea that the duration in which mankind is living without a governing power, they are in constant war with each other due to the high levels of competition in the state of nature. Furthermore: In such condition there is no place for industry, because the fruit thereof is uncertain: and consequently no culture of the earth no knowledge of the face of the earth; no account of time; no arts; no letters; no society; and continual fear, and danger of violent death (Hobbes, 2) Essentially, this concept in liberalism is that mankind must forgo the vicious competition and violence found in the natural state in order for society, industry, and culture to even exist. These aspects cannot be established if man is more concerned with preserving his own life, and ending that of others to get ahead. For this reason, the liberals are arguing for more equality and less of a business or free market model in the healthcare field. The second main point of contention in the healthcare debate is the question of who should and should not be entitled to healthcare. It is important to note that both liberals and conservatives agree that everyone should get healthcare. The difference in views is found when it comes the financial aspect of healthcare entitlement. Conservatives believe that if you have money to pay for healthcare, you should be paying for it. They do not believe in government assistance for healthcare if you can pay for it yourself. Essentially, it goes back to the old adage that there is no such thing as a free lunch; except in this case its healthcare instead of lunch. This concept can be explained through the conservative concept that conservatives are guided by their principle of prudence (Kirk, 3). What this means that Any public measure ought to be judged by its probable long-run consequences, not merely by temporary advantage or popularity (3). Conservatives do not want to just start handing ou t healthcare for free or at discounted prices because it would have a hefty impact on the economy in the long-run. In the present time, the general population would love to have free or even cheap healthcare, but the United States economy is not in the position to be able to do that. This is what the conservatives are thinking about when refusing to give handouts. Conversely, the liberal view is that even if you could pay for healthcare, you should not go broke for it. This concept can be traced back to the liberalistic idea that the whole purpose of government is the preservation of property (Locke, 3). Furthermore, this connects to their idea of abandoning the state of nature because The great purpose for which men enter into society is to be safe and at peace in their use of their property (Locke, 3). Forcing people to pay for healthcare until they reach bankruptcy violates these ideas. By making people give up all their money for such a basic right like healthcare, the government is no longer preserving the property (or money) of the people in the society. To take this concept even further, there are things that liberals believe a governing body cannot do. Among this list is it doesnt and cant possibly have absolutely arbitrary power over the lives and fortunes of the people (Locke, 4). It should also be noted that Locke stated that legislature can never have a right to destroy, enslave, or deliberately impoverish the subjects (5). Making people pay for healthcare until they no longer can, instead of giving government assistance completely goes against these liberal ideals. It is for this reason that liberals prefer to provide assistance for healthcare even if the person has the ability to pay for it. The third focus of the healthcare debate is the concept of federally mandated insurance. This refers to whether decisions about laws involving healthcare and health insurance should be left to the federal government or if it should be an issue that is decided on a state by state basis. According to an article by Michael Bihari, MD: Mandated health insurance laws passed at either the federal or state level usually fall into one of three categories: Health care services or treatments that must be covered, such as substance abuse treatment. Healthcare providers other than physicians, such as acupuncturists. Dependents and other related individuals, such as adopted children Essentially, what Dr. Bihari is saying is that the most common mandated healthcare laws involve the coverage of necessary treatments, specialists, and dependents. After getting a good idea of what these mandated healthcare laws typically are, it should be aware that the most common debate on this aspect is who gets to decide if the law gets passed or not. Should each state get to choose if they want to pass and recognize the laws set forth or should the federal government pass healthcare laws for the entire nation? A subset of this question is should people face financial penalties if they fail to comply with these mandates? The conservative view on this matter is that these decisions should be made on the state level, not federal. Furthermore, the conservative party argues against any form of monetary penalties if people fail to adhere to these healthcare laws. For example, under the Affordable Care Act, there is fine for people that do not have health insurance. The conservative view is against this concept of health insurance mandate compliance. This side of the argument can be traced back to the conservative pillar that conservatives uphold voluntary community, quite as they oppose involuntary collectivism (Kirk, 4). Additionally, conservatives believe that: the decisions most directly affecting the lives of citizens are made locally and voluntarily. Some of these functions are carried out by local political bodies, others by private associations; so long as they are kept local, and are marked by the general agreement of those affected, they constitute healthy community. (Kirk, 4) In laymans terms, conservatives believe that decisions that greatly impact citizens, such as healthcare, should be decided by a governing body close to the population. This big of a decision cannot and should not be made by the federal governing body since each state has a different set of circumstances. There is no way that the federal government is completely aware of the needs of the people of each state. Furthermore, conservatives are against forced collectivism. Leaving healthcare mandates to the federal level means that these decisions are being made for the entire nation. It is forced collectivism by means of the nation instead of the individuality of each state. Moreover, giving that kind of collective power to the federal government gives way to a standardizing process hostile to freedom and human dignity (Kirk, 4). Each state should have the freedom and ability to decide what is best to uphold or bolster the standard of living created in each. Furthermore, each person shoul d be given the freedom to make their own choices about a personal matter such as healthcare. Penalizing people for not complying with healthcare mandates takes away this freedom of decision. On the contrary, liberals argue for healthcare mandates on the federal level. They also support the idea of monetary penalties for noncompliance. This aligns with the current themes seen in the Affordable Care Act, also known as Obamacare. The Affordable Care Act is a federally mandated healthcare act that penalizes people that do not have insurance. This view can be explained by the classical liberal idea that: The only way to erect such a common power, as may be able to defend them from the invasion of foreigners, and the injuries of one another, and thereby to secure them in such sort as that by their own industry and by the fruits of the earth they may nourish themselves and live contentedly, is to confer all their power and strength upon one man, or upon one assembly of men, thay may reduce all their wills, by plurality of voices, unto one will. (Hobbes, 3) What Hobbes is saying is that in order to organize the chaos of the state of nature, the people must decide on a person or group of people to represent all their voices and decisions in one. Additionally, Hobbes further explains the scope of this assembly of men: every one to own and acknowledge himself to be author of whatsoever he that so beareth their person shall act in those things which concern the common peace and safety; and therein submit their wills and their judgements to his judgement. (3) This further explanation translates into the concept that liberals believe that government should have a large amount of power and intervention. This is the reason why the liberals are arguing for federally mandated healthcare laws. Another level of that increased government power and intervention is the aspect of financial penalty for noncompliance. These fines are ensuring that everyone is following their mandates. In conclusion, the debate on healthcare has been going on for several years and has shown no signs of stopping anytime soon. The liberal and conservative parties have clashing views on aspects of this debate such as the amount of government involvement, access or entitlement to healthcare, and if healthcare should be federally mandated. The views or arguments of these parties can be explained and traced back to key ideas or pillars of their party. Conservatives favor less government intervention, prudent reform, and local governing bodies whereas liberals favor more government intervention, equality or less competition, and that a government should not deliberately impoverish their community. https://www.verywell.com/mandated-health-insurance-benefits-1738931

Ambiguity in Shakespeares Hamlet Essay -- Essays on Shakespeare Hamlet

Ambiguity in Hamlet      Ã‚  Ã‚   Ambiguity of both language and action is commonplace in Shakespeare’s tragedy Hamlet. Let us examine what can be found relative to this ambiguity in the play.    D.G. James says in â€Å"The New Doubt† that the Bard of Avon has the ambiguous habit of charging a word with several meanings at once:    â€Å"Conscience does make cowards of us.† There has been, I am aware, much dispute as to what the word means here. For my part, I find not the least difficulty in believing that the word carries both its usual meaning and that of â€Å"reflection and anxious thought.† It is a platitude of Shakespeare study that Shakespeare could, with wonderful ease, charge a word with two or three meanings at once; there is hardly a page of Shakespeare which does not illustrate this; and, in any case, the word â€Å"conscience† means for us all both a command to do what is right and anxious reflection as to what is, in fact, the right thing to do. If I had to choose (what I feel under no compulsion whatever to do) between the two meanings proposed, I should unhesitatingly choose the former and usual meaning (43).    Harold Bloom in the Introduction to Modern Critical Interpretations: Hamlet expounds on the ambiguity and mysterious conduct of the hero during the final act:    When Horatio responds that Claudius will hear shortly from, presumably that Rosencrantz and Guildenstern have been executed, Hamlet rather ambiguously [my italics] makes what might be read as a final vow of revenge:    It will be short. The interim is mine. And a man’s life’s no more than to say â€Å"one.†    However this is to be interpreted, Hamlet forms no plot, and is content with a wise passivity, knowing that Claudius mu... ...es: An Impulsive but Earnest Young Aristocrat.† Readings on Hamlet. Ed. Don Nardo. San Diego: Greenhaven Press, 1999. Rpt. from The Masks of Hamlet. Newark, NJ: Univ. of Delaware P., 1992.    Shakespeare, William. The Tragedy of Hamlet, Prince of Denmark. Massachusetts Institute of Technology. 1995. http://www.chemicool.com/Shakespeare/hamlet/full.html    West, Rebecca. â€Å"A Court and World Infected by the Disease of Corruption.† Readings on Hamlet. Ed. Don Nardo. San Diego: Greenhaven Press, 1999. Rpt. from The Court and the Castle. New Haven, CT: Yale University Press, 1957.    Wright, Louis B. and Virginia A. LaMar. â€Å"Hamlet: A Man Who Thinks Before He Acts.† Readings on Hamlet. Ed. Don Nardo. San Diego: Greenhaven Press, 1999. Rpt. from The Tragedy of Hamlet, Prince of Denmark. Ed. Louis B. Wright and Virginia A. LaMar. N. p.: Pocket Books, 1958.

My learning experience

My Learning Experience l. The Peers In our first day, each other are Just strangers. But, In the end, we are like friends In a long time because we are close to each other. Our class becomes fun and happy at the same time. We did not pay so serious In our subject but when It comes to our Implementation we become serious and responsible. I learned how to socialize to others. When I'm in our class, I forget my problems and stress because to my classmates who are always Joking even If they Jokes are not so good, Oust kludging guys ha-ha).Mostly In my classmates are very friendly and enjoyable to be with them. And also, In my group mates where are responsible to each other assigned tasks. II. My Facilitator My facilitator is kind, understanding and responsible to do her Job. She has always very wide patience to us because we know that we are so jolly and sometimes irresponsible. She taught us many lesson and what is the easiest process in blood typing. Ill. My unforgettable Experience My unforgettable experience would be our flirt implementation because my group is signed to prick and examine what are the client's blood types.My friends know that I'm so afraid when I realize that my NSP program is about blood. And this is the best experience I ever had because this time I faced my fears in blood and injection. IV. What I learned? In this program, I learned so many things like for example how to get and examine what is the blood type of others; how to communicate with the clients and be friendly; and mostly, how to be responsible to the tasks where I'm assigned in a class.

How The Columbian Exchange Changed Global Consumption...

Issue Paper 2 Tino LoGerfo History 105 What many people only know about Christopher Columbus’s expedition is that he found the Americas. While this is true, he did find a completely new frontier that was unknown to the Old World, his findings re-shaped global consumption patterns from the seventeenth century. He found a New World filled with resources that the old world hasn’t seen before. When he found the new world he brought with him European plants and animal species that were foreign to the citizens of the New World. The Columbian Exchange introduced many foods that are still essential to consumption in today’s world along with the seventeenth to nineteenth centuries. The potato is a prime example of how the Columbian Exchange changed global consumption patterns because it was nutritious and had an abundant amount of calories in it and caused a mass population increase in areas where the potato was available. The use of slaves also increased exponentially when sugar cane was introduced. This was a very cheap, productive way to produce a large amount of sugar and it was used by many Old World countries. The findings of these new world products created a rise in global consumption and production because products were introduced to the both the New World and the Old World and there instantly became a large spike in the availability of products. Along with this, the old world decided to go out and get themselves involved in the New World because they saw an opportunityShow MoreRelatedComparative Advantage11136 Words   |  45 Pagesintroduced in 1817 by David Ricardo and applied in economics as to the ability of a party (an individual, a firm, or a country) to produce a particular good or service at a lower  opportunity cost  than another party. Comparative advantage explains how  trade  can create value for both parties, which is the pure theory of international trade. 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A compelling case can be made for viewing the decades of the global scramble for colonies after 1870 as a predictable culmination of the long nineteenth century, which was ushered in by the industrial and political revolutions of the lateRead MoreGlobalization and It Effects on Cultural Integration: the Case of the Czech Republic.27217 Words   |  109 Pagesissues in the 21st century. However, there is the difficulty of the world to come up with a single and uniform definition. This is because, so many people doubt if the happenings in the world today are as a result of globalization. Thus, due to these global differences of what this concept actually is about, globalization has grown to involve aspects not only of economy, but politics and other socio-cultural issues. Globalization affects almost every human being, this is because the process of globalizationRead MorePharmaceutical Price Controls in the Oecd Countries47662 Words   |  191 PagesRD. In limiting the return that would otherwise accrue to companies for undertaking the risk and expense of developing new drugs and bringing them to market, the price controls maintained by the OECD countries in the study also reduce the amount of global pharmaceutical RD below what it would otherwise be under market conditions similar to those in the United States. The study estimates that this reduction falls in the range of $5 billion to $8 billion annually, once prices were fully adjusted. ThisRead MoreMarketing Management 14th Edition Test Bank Kotler Test Bank173911 Words   |  696 Pagessolely on attaining an organizations sales goals in an efficient manner. D) It is defined as the field that deals with planning and managing a business at the highest level of corporate hierarchy. E) It occurs when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties. Answer: E Page Ref: 5 Objective: 2 Difficulty: Moderate 4) A social definition of marketing says ________. A) effective marketing requires companies to remove

Faith and Works - James and Romans Free Essay Example, 1500 words

Faith and Works: Comparison of James 2:14 and Romans 4. Course: Date: In the New Testament, James 2:14-25 and Romans 4 both deal with the concepts of ‘faith’ and ‘works’ and their respective contributions to salvation. However, the approach adopted in the two writings is markedly different. This difference may be attributed in large part to the fact that the audience in both cases is different: James is obviously addressing fellow Christians, as he says, â€Å"my brothers and sisters† (2:14); on the other hand, Paul’s letter to the Romans is directed towards both Jews and Gentiles, to the circumcised and the non-circumcised. While the apostles James and Paul agree that Faith connotes belief in God and Works connotes good actions, James contends that faith and works are both essential for salvation, while Paul asserts that faith is the only requisite. James is unequivocal in his declaration that â€Å"faith by itself, if it has no works, is de ad† (2:17). We will write a custom essay sample on Faith and Works - James and Romans or any topic specifically for you Only $17.96 $11.86/pageorder now However, he does not discount the importance of faith. His contention is that both are essential and one, without the other, is futile. He is addressing Christians, who, we may assume, are already among the congregation of the faithful, by virtue of their professed belief â€Å"that God is one† (2:19). Therefore, James accepts that faith is a precondition for salvation but asserts that faith alone does not suffice. Christians who profess to â€Å"have faith but do not have works† (2: 14) cannot be saved. This is illustrated by the futility of showing apparent concern for a fellow – man who is cold and hungry by the expression of empty platitudes: â€Å"keep warm and eat your fill† (2:16). This statement may be considered a profession of faith, but it is only when this faith is demonstrated through the action of actually providing clothes and food to the needy that faith can be conceded to be genuine. Good deeds constitute visible evidence of invisible faith, which cannot otherwise be validated. It is action, or works, which gives life to faith and without works, faith will remain an inanimate concept. One does not exist without the other. The only way to demonstrate faith is through actions, as faith is an internal quality which cannot on its’ own be judged as true or false. It is an undisputed fact that â€Å"Faith, apart from works, is barren† (2:20). Faith may be considered the root of Christian belief but this root will not sprout and grow to bear fruit unless it is expressed through works. James gives evidence of the truth of his claim by using the example of Abraham: â€Å"Abraham believed God, † and it was this faith that â€Å"was reckoned to him as righteousness† (2:23).

Comparison between Classical Athens and Han China

Despite the social hierarchy and acceptance of position of the population in both societies, Han China and Classical Athens had disparities proportionate to their physical sizes. The geographical isolation from each other resulted in the differences in demographics, characteristics of government structures, individual duties and roles in government, and the general view of life. The east to west length of the Han Empire dwarfs the city-state of Athens. The maps of Classical Greece and Han China display the basic geography of each area. The surrounding area of Attica around Athens covers less than a 50 mile by 150 mile area, and Athens was only a fraction of that. On the other hand, Han China expands approximately 3,000 miles east to west†¦show more content†¦Pericles on â€Å"What is a Good Citizen?† explains the concept that if Athenian man does not have an interest in participating in government, then he does not belong in Athens. The other Athens-related text is the Dialogue of Socrates and Crito in Prison. Socrates was charged with crimes by the Athenian government and accepts the punishments for his actions. Socrates feels that everyone who lives in a city-state should know the laws, and, confirmed by living in that area, is willing to accept any punishments at the hand of the state. Both of the Athenians stress the importance of devoti on to the state through obeying laws and participation in government. Socrates had a high moral standard of living and a group of followers with which he led by his actions. For example, Socrates not only preached respect for law and state, but also accepted death in order to show his devotion. Confucius on the Individual and the State stresses the importance of a father-son relationship over the government. The top box of the document says that by honoring your father, you are doing your part in government. The lower box describes a short story in which a boy rats out his father to the state, but Confucius takes the view of the importance of the father-son relationship. Athens overall had a high regard for government authority, while Confucius disregard it completely. A document that would have provided a more evenly sided look would be a ChineseShow MoreRelatedWorld History AP8768 Words   |  36 Pagesparticularly from conquered peoples, offer a strong argument that they were de structive and oppressive. 4. Do you think that the classical empires hold â€Å"lessons† for the present, or are contemporary circumstances sufficiently unique as to render the distant past irrelevant? †¢ This question can be answered successfully from several perspectives, although in order to argue that the classical empires are irrelevant a student would have to address the arguments made in the Reflections section of the text. †¢ ARead MoreA Comparison Between Chinese Etiquette and the Western Etiquette5197 Words   |  21 Pagesä ¸ ­Ã¨ ¥ ¿Ã¦â€" ¹Ã§ ¤ ¼Ã¤ » ªÃ¦â€"‡åÅ'â€"Ã¥ · ®Ã¥ ¼â€š-生æ ´ »Ã§â„¢ ¾Ã§ §â€˜ With China entry the WTO and will hold the Olympic games in 2008, the relationship between China and Western in politics, economy, culture will become more and more close. It is undoubtedly that the etiquette will play an important role in this process. To the definition of etiquette, China and Western have a different understanding. As Chinese thinks that the etiquette is the common behavior standards that all the members must obey, and its purpose is to keep the normal living orderRead MoreHemp Cultivation in China42289 Words   |  170 PagesRepublic of China Robert C. Clarke Naturetex International B.V. Van Diemenstraat 192 1013 CP Amsterdam The Netherlands Clarke, R.C. 1995. Hemp (Cannabis sativa L.) Cultivation in the Tai an District of Shandong Province, Peoples Republic of China. Journal of the International Hemp Association 2(2): 57, 60-65. This paper summarizes the history of hemp (Cannabis sativa L.) cultivation and traditional use in the Tai an District of Shandong Province in the People s Republic of China, and investigatesRead MoreOrganisational Theory230255 Words   |  922 Pagesapplication and consideration of how managment practice is formed and shaped by ideas and concepts. The authors have brought their wealth of experience and understanding and provided the field with an imaginative resource to address the dynamics between theory and practice. Dr Susanne Tietze, Bradford University, UK The key to success for managers is not only to be result oriented but also to be wise in their decision making. This requires that they have a deeper than superficial understanding of