Interest Rates Essays - Mathematical Finance, Financial Markets

Interest rate essay Causes of interest rates can be explained as -deferred consumption. When money is loaned the lender delays spending the money on consumption goods. Since according to time preference theory people prefer goods now to goods later, in a free market there will be a positive interest rate. Inflationary expectations. Most economies generally exhibit inflation, meaning a given amount of money buys fewer goods in the future than it will now. The borrower needs to compensate the lender for this. Alternative investments. The lender has a choice between using his money in different investments. If he chooses one, he forgoes the returns from all the others. Different investments effectively compete for funds. Risks of investment. There is always a risk that the borrower will default on the loan. This means that a lender generally charges a risk premium to ensure that, across his investments, he is compensated for those that fail. Liquidity preference. People prefer to have their resources ava ilable in a form that can immediately be exchanged, rather than a form that takes time or money to realize. Taxes. Because some of the gains from interest may be subject to taxes, the lender may insist on a higher rate to make up for this loss. The nominal interest rate is the amount, in money terms, of interest payable. The real interest rate, which measures the purchasing power of interest receipts, is calculated by adjusting the nominal rate charged to take inflation into account. There is a market for investments which ultimately includes the money market, bond market, and stock market and currency market as well as retail financial institutions. The CAPM returns the asset-appropriate required return or discount rate - i.e. the rate at which future cash flows produced by the asset should be discounted given that asset's relative riskiness. Betas exceeding one signify more than average "riskiness"; betas below one indicate lower than average. Thus a more risky stock will have a higher beta and will be discounted at a higher rate; less sensitive stocks will have lower betas and be discounted at a lower rate. The CAPM is consistent with intuition - investors (should) require a higher return for holding a more risky asset. Since beta reflects asset-specific sensitivity to non-diversifiable, i.e. market risk, the market as a whole, by definition, has a beta of one. Stock market indices are frequently used as local proxies for the market - and in that case (by definition) have a beta of one. An investor in a large, diversified portfolio (such as a mutual fund) therefore expects performance in line with the market. The risk of a portfolio is comprised of systematic risk and specific risk. Systematic risk refers to the risk common to all securities - i.e. market risk. Specific risk is the risk associated with individual assets. Specific risk can be diversified away (specific risks "average out"); systematic risk (within one market) cannot. Depending on the market, a portfolio of approximately 15 (or more) well selected shares might be sufficiently diversified to leave the portfolio exposed to systematic risk only. A rational investor should not take on any diversifiable risk, as only non-diversifiable risks are rewarded. Therefore, the required return on an asset, that is, the return that compensates for risk taken, must be linked to its riskiness in a portfolio context - i.e. its contribution to overall portfolio riskiness - as opposed to its "stand alone riskiness." In the CAPM context, portfolio risk is represented by higher variance i.e. less predictability. Exactly how these markets function is a complex question. However, economists generally agree that the interest rates yielded by any investment take into account: ?The risk-free cost of capital ?Inflationary expectations ?The level of risk in the investment ?The costs of the transaction The risk-free cost of capital is the real interest on a risk-free loan. While no loan is ever entirely risk-free, bills issued by major nations like the United States are generally regarded as risk-free benchmarks. This rate incorporates the deferred consumption and alternative investments elements of interest. The CAPM says that the expected return of a security or a portfolio equals the rate on a risk-free security plus a risk premium. If this expected

Successful Selling at Christmas Craft Fairs

Successful Selling at Christmas Craft Fairs Three years ago, I accepted an invitation to sell my novels at a local gym’s mini Christmas craft fair. I wound up selling 21 copies. The experience was so positive that the following Christmas I expanded to high school fairs and sold 51 copies. This year, I sold over 80 books at more venues, all within five miles of home. Needless to say, Christmas craft fairs can be a lucrative way to sell books. To do so successfully, it’s a good idea to first visit local craft fairs at high schools, community centers, and churches. Talk to vendors and show organizers a copy of your book. Ask about registration requirements and ask to be put on a mailing list. Begin with smaller venues that charge a minimal fee. Large community center events draw larger crowds, but their fees can be $350 or more. Most craft fairs have an adjudication process and prefer only handmade goods. For this reason, even self-published books can be a gray area for judges and organizers. Although I not only wrote, but typeset my first mystery series, the professionally designed cover disqualified me at some fairs, but not at others. A third of this year’s fairs accepted my traditionally published series as well. If you’re upfront with organizers, some of them will make an exception, especially if you’ve tried both publishing options with a single series. Competition for table space at established venues can be fierce, so apply long before the deadline. If you’re accepted at several fairs, be mindful of the dates. Most fairs occur on weekends in November and early December, (fees and application forms might be required months earlier). You won’t want to double-book an event, as organizers require you to be there in person. A few days before the fair, you’ll receive rules and helpful information. High schools are especially great venues as students are on hand to help carry your stock and will watch over your table if you need a break. Once you’ve set up your table (make it festive) employ the same strategies you’d use at a book signing: stand as much as possible, smile and engage people, offer to sign copies, and bring water. You’ll also need a float, receipt book, food, (events are five to seven hours long) and bags for customers. The great thing about Christmas craft fairs is that attendees are looking for something to buy and they bring cash. Visa/debit machines are a good idea for large venues, but not worth the bank’s fee at smaller fairs. If you have more than one book in a series, sign and wrap the books in clear cellophane, add a bow and ribbon, and sell them as signed gift sets. Generally, tables are large enough to show promotional materials and an info sheet featuring review excerpts and availability elsewhere. Business cards are a must! I handed out cards to several book club members and teachers looking for guest speakers. Customers also wanted to know if my books were available on Kindle, and preferred a card to a bookmark. Christmas craft fairs are often unpredictable. Books will sell well at some venues but not at others. The following year, the reverse will be true. Keep records to analyze which fairs work best for you. If your books are set locally or have some other local slant, emphasize this, as people love to read about their own area. Above all, have fun.

Global Warming is Media Hyped Hysteria Essay Example | Topics and Well Written Essays - 500 words

Global Warming is Media Hyped Hysteria - Essay Example The first article has been published by an environmental agency and therefore, it has used ethos in its writing to convince the readers. The use of scientific explanations and relevant theories are used to explain the drastic ramifications of global warming. ‘trading program would harness American ingenuity to decrease heat-trapping pollution, cost-effectively..’(EDF). The Second article, on the other hand, is a speech by a political leader and therefore, one is able to find the text full of pathos and logos to sway the public perception. Inhofe has cleverly used creative imagery and mental images to provide a relatively coherent explanation for his arguments. ‘Advocates of alarmism have grown increasingly desperate†¦Ã¢â‚¬â„¢ (Inhofe). The first article lacks emotional appeal and relies heavily on scientific facts which are stark in their explanation and therefore, fail to impress the common man. Inhofe, on the other hand, has combined logos in his pathos. Citing previous press releases, Inhofe’s rhetoric of the discourse was designed to inflame the feeling of outrage against the media hype and has asked ‘if CO2 is the driving force for global climate change, why do so many in the media ignore the many skeptical scientists who cite these rather inconvenient truths?’. The structured and well laid out article has tried to explore the issue through the myths that are common among the masses but the lackluster style has failed to convince the masses because it is not tempered with modules that have a significant impact on human emotions. Inhofe has shown that facts and figures need to be used in a manner that it can impact the human psyche through clichà ©s and metaphors. â€Å"’60 Minutes’ failed to inform its viewers that a 2005 study by Ola†¦.that the interiors of Greenland are gaining ice and mass and that†¦ The Arctic was warmer in the 1930s than today†.  

Diabetes Article Example | Topics and Well Written Essays - 500 words

Diabetes - Article Example Mukesh, B.N., Le, A., Dimitrov, P.N., Ahmed, S., Taylor, H.R., and McCarty, C.A., (2006). Development Of Cataract And Associated Risk Factors: The Visual Impairment Project. Archives of Ophthalmology; 124(1): pp. 79-85. 6. Dielemans, I., de Jong, P.T., Stolk, R., Vingerling, J.R., Grobbee, D.E., and Hofman, A., (1996). Primary Open-Angle Glaucoma, Intraocular Pressure, And Diabetes Mellitus In The General Elderly Population. The Rotterdam Study. Ophthalmology; 103(8): pp.1271-1275. 7. Hennis, A., Wu, S.Y., Nemesure, B., Leske, M.C., and Barbados Eye Studies Group, (2003). Hypertension, Diabetes, And Longitudinal Changes In Intraocular Pressure. Ophthalmology; 110(5): pp. 908-914. 9. Klein, R., Klein, B.E., Moss, S.E., and Meuer, S.M., (2000). The Epidemiology Of Retinal Vein Occlusion: The Beaver Dam Eye Study. Transactions Of The American Ophthalmological Society; 98:133-41; discussion 141-3. 11. Wong, T.Y., Larsen, E.K., and Klein, R, et al., (2005). Cardiovascular Risk Factors For Retinal Vein Occlusion And Arteriolar Emboli: The Atherosclerosis Risk In Communities & Cardiovascular Health Studies. Ophthalmology; 112(4): pp. 540-547.

Infants Secure Attachment To Different Caregivers Social Work Essay

Infants Secure Attachment To Different Caregivers Social Work Essay Experience of early childhood attachment is at the base of healthy child development and works as the framework for the intimate relationship with others. Early manner of communication between the caregiver and child shapes the attachment relationship. The outcomes of infant attachment considered to be long-term and influences generations of families. According to Bowlby who developed theory of infant-caregiver attachment, attachment security characterizes the confidents of infants in their caregiver, and can be observed through how they interact with their caregiver and how they make use of the caregiver as a secure base to explore their environment (Brown, McBride, Shin Bost, 2007). Attachment theory, therefore, has been regarded as the major structure for the research of mother-child attachment, and it also might offer a practical approach for examining attachment development between other caregivers and infants. Nonetheless, in spite of a number of researches on mother-child att achment has conducted, we still are unfamiliar with attachment relationships between other caregivers such as a father and adoptive parents. Because of the socioeconomic changes that have occurred in the United States during the past three decades, more mothers, with infants, work outside the home and, in many cases, new roles for fathers within the home increased, and many couples with a variety of reasons decided to adopt children also increased. Therefore, this paper explores whether an infant can develop secure attachment to a caregiver other than their primary caregiver, usually mother, and then how father and foster mother-infant attachment relationship different from ordinary infant-mother relationship. Importantly, sensitivity has been considered as a key predictor for secure caregiver-infant attachment. Despite the fact that the relatively few researches studying the attachment relationship with fathers, some studies on father-child attachment suggests that fathers can give sensitive care, an important factor for developing secure attachment, for their children as much as mothers can; therefore, the level of attachment between father and child appears to be comparable to that usually found with mothers (Brown et al., 2007). Moreover, Brown et al. (2007) found that when fathers employed favorable parenting activities, father involvement time does not seem to affect on secure father-child attachment. More specifically, infants tended to form quite secure attachment relationships despite the fact that either their fathers were more involved or disinvolved. When fathers, on the other hand, employed less sensitive child-rearing, increased father involvement was associated to an insecur e father-child attachment (Brown et al., 2007). Therefore, father-child attachment is influenced by fathersà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ parenting quality, and increased involvement is better for building attachment only when it accompanied by positive parenting. In addition, another research showed that fathers who valued the parental role were more tend to have a secure attachment with infants, but this connection was marked only when fathers have positive marriage, conceivably because these fathers are more prone to be given helping hand from their partner (Wong, Mangelsdorf, Brown, Neff Schoppe-Sullivan, 2009). Yet interestingly, fathers who valuing the paternal caregiving role might promote secure attachment of temperamentally difficult infants, for such fathers may be tend to support them with daily child-rearing activities and be adjusted to emotional needs of their infants as well as their other demands. Accordingly, temperamentally difficult babies would be more prone to attach securely to fathers in this circumstance. Even though all adopted children go through a stressful disjointing from their attached figures and are replaced with new attachment figures in the foster family, they are also able to develop and become attached to their fostering families. Jeffer and Rosenboom (1997) examined 80 mothers and their infant from all over the world, adopted between at age of 6 month and 8 month olds, in the Strange Situation when they were 12 and 18 months to evaluate their attachment. According to their study, they found more secure infant-mother attachment than insecure attachment relationship as normally expected. The actual proportion of secure attachment at both 12 and 18 months were approximately 75%, so secure attachments observed this research seemed to be stable over time (Juffer Rosenboom, 1997). Another study of attachment between foster parents and infant also demonstrated that quality of mother-infant attachment in middle-class foster families was comparable to the result of families with only biological children; however, interracial adoption were more likely to have less secure caregivers- infants attachment (Singer, 1985). It might be explained by which families who adopt children of a different race than themselves are less likely to receive hearty support from extended family, friends, and neighbors than are families who adopt children of the same race. Higher rates of insecure attachment also have found among infants who spent as a minimum of 8 months in a Romanian orphanage and then placed to foster families. Infants who adopted at an earlier age, by contrast, do not appear to have an elevated rate of insecure attachment to their adoptive parent (Chisholm, 1998). From these results, although adopted age of infants seems to be a critical factor whether they develop secure or insecure attachment to foster patents, adopted infants are capable of attaching to their new caregiver, and in turn, adoptive parents are responsive enough so that they can meet their adopt ed babiesà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ needs and be a their lighthouse as well. Since infants can develop securely attached relationship to other caregivers, the long term effects such as resiliency to new environments and having positive behaviors and expectances are assumed to be similar to which mother-infant relationship likely to have. Even though the comparison of attachment in foster and non-foster families was reasonably resemble, the outcome sometimes do not exclude the potential importance of insecure or disrupted post-infancy family relationships as a source for the adjustment problems of the adoptee. The study showed that when children reached to school age, they faced to the reality of adoption and begins to be aware of their circumstances, including being abandoned by their parents. Consequently, they often feel frustrated, doubtful, and become insecure to their current families relationship (Singer, 1985). Nonetheless, it appears that the higher occurrence of troubles accounted later on in such families cannot be explained only by attachment probl ems of earlier life because early secure attachment counteracts to these problems and buffers the negative emotion to some degree. In conclusion, infants can develop secure attachment not only to their mothers but also other caregivers, including fathers and adoptive parents. It seems that infants can become attached to any caregivers, provided that those caregivers interact with them on a regular basis, provide physical and emotional care, and are emotionally invested in the child. Sensitivity plays crucial role in secure attachment development between caregiver and infant; on the other hand, the amount of time parents involves in parenting appears to be less related to secure attachment development. The similar positive outcome of secure attachment can be expected to the attachment relationship among father- and adoptive parents-infant. Children are born prepared to form relationships with those who care for them, and those early experiences influence the relationships that they develop within the family and in the greater world outside of the home. Consequently, relationships affect childrenà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s healthy development, and childrenà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s development, in turn, transforms their later fine relationship.

Physics Lost Insulation

Why loft insulation is needed? Loft insulation is the most cost-effective energy efficiency measure that can be installed. It can reduce heating costs up to 20%. The purpose of them is to hold the heat below within the property, reducing heat loss to the roof void and outside but also reducing the amount of heating needed to maintain the property at an ideal temperature. With insulation, the property will be warmer, more comfortable and it will cost less to heat. How loft insulation reduces heat loss? Heat will always flow from a warm area to a cold one.The colder it is outside, the faster heat from your home will escape into surrounding air. Glass fibre is laid across the loft to reduce heat transfer out of the roof. Glass fibre traps air and trapped air is a poor conductor therefore reduces heat transfer from the ceiling to the loft by convection and conduction. How the thicknesses of the loft insulation affect heat loss? As you increase the level of insulation in the loft, it will slow the rate of heat loss and maintain the comfortable temperature for longer.Installing 290mm thick insulation can save up to approximately 20%, compared to thin insulation which is only 14% The pay back time is long term Generally, loft insulation cuts loft’s u value rom around 2. 3 (for an uninsulated loft) to 0. 16 W/m2K, a reduction of around 95%. A more specific example is sheep wool. It shows for sheep wool over 140mm, it has a U value of 0. 16 compared to over 250mm, it has a U value of 0. 11 showing how thickness can affect heat loss greatly.

Assignment 3R: Workplace Skills Essay

Save this file in your course folder, and name it with Assignment, the assignment letter, the section number, and your first initial and last name. For example, Jessie Robinson’s assignment 1R for Section 1 would be named Assignment1RJRobinson. Type the answers to the assignment questions below. Use complete sentences unless the question says otherwise. You will have more than one day to complete an assignment. At the end of each day, be sure to save your progress. Review Lesson 4 of the Course Overview for instructions about turning in your assignments. Assignment Questions In Section 3, you learned about workplace skills. Now, you’ll apply what you learned. 1. Imagine that you are a manager judging the performance of your employees. Describe at least two ways that you could find evidence of an employee’s skills and attitude. (2-4 sentences. 2.0 points) I could watch how well they work together for getting along is a skill, I would also look at the outcome of whatever it is they are doing, to see what the finished product is. 2. Which aspect of professionalism do you feel that you are strongest at? Explain why you think so. (1-3 sentences. 2.0 points) I think behavior is, because in order to get the job done right you must  behave yourself and know how to control your attitude and thoughts. 3. Which aspect of professionalism do you feel that you are weakest at? Explain why you think so. Describe at least one thing you could do to improve at it. (1-3 sentences. 2.0 points) I personally think all of them are equally important. 4. Choose a company you know of that you think is good at innovation, and describe at least one innovative thing the company has done. (1-3 sentences. 2.0 points) Apple is good at innovation for they are always coming up with new technology, the iPhone is one of these things. 5. Describe two real or made up situations in the workplace when you would need to use speaking skills. (1-2 sentences. 2.0 points) During a presentation, or when you’re pitching an idea. 6. Describe two nonverbal signals used in the workplace that you or people you know use, and explain what you think those signals mean. (1-2 sentences. 2.0 points) Maintain good eye contact because it allows them to know you are paying attention and having good posture. 7. Describe two real or made up situations in the workplace when you would need writing skills. (1-2 sentences. 2.0 points) Preparing a presentation, or writing an important email. 8. Describe a real or made up situation that required negotiation. (1-3 sentences. 3.0 points) When one company has a similar idea or product that will possibly out do your product you would try to negotiate them. 9. If you were a manager, which management style do you think you would use most often? Explain why. (1-3 sentences. 3.0 points) I would use the participative approach for they involve their employees with decisions.