Why Is Xenia Such an Important Theme in the Odyssey

Why is Xenia such an important theme in the Odyssey? Explain your views and support them with details from the poem. (45 marks) The concept of guest hospitality was extremely important in ancient Greece. Evidence that Xenia was integral to Greek society can be found in the fact that Zeus, the king of the Gods, was also portrayed as the God of Xenia. Xenia created an obligation for the host to be hospitable to their guests, and conversely, the guests had their own responsibilities too. If either the host or the guest was to break a Xenia rule, there would be severe penalties dealt by Zeus and also by society. Some basic Xenia rules were that the guest could not insult the host, make demands, or refuse xenia. Additionally, the host could†¦show more content†¦The xenia gifts characters give are also a statement of wealth, as well as a way of acquiring wealth, for example, when Telemachus acquires a silver krater, a wedding dress, a golden cup and other elaborate gifts from his stay in Sparta. In the Odyssey, Xenia is also shown to be one of the hallmarks of a civilised society, allowing us to judge the societies that Odysseus visits by their attitudes to xenia. For example, the Cyclopes are well informed about Xenia, yet disregard it because they have no fear of the God’s retribution. This tells us that the Cyclopes live in a formidable and amoral society. Even the Gods are shown to respect Xenia rules, for example in Book 5 when Calypso gives hospitality to Hermes. Good xenia is shown to have good repercussions for both the guest and the host: for example, Odysseus’ stay on the island of Calypso, where he is met with exceptional hospitality. Odysseus received this hospitality well and continued to please Calypso. Only at the end did he ever try to refuse her hospitality and leave, and even this caused no serious problems. Here we have an example of the guest-host relationship working well. Calypso is provided with a companion, even if it was not perman ent, and Odysseus was provided with shelter, provisions, and protection for his men. In the end it proves to be a beneficial situation for them both. Xenia also provides a system ofShow MoreRelatedAnalysis Of Homer s Epic Of The Iliad And Odyssey903 Words   |  4 PagesWith this personal narrative, I will analyze two themes from Homer’s epic’s pertaining to the Iliad and the Odyssey. I have chosen hospitality (Xenia) and shame (Aidos) as the subject of interest, and will focus on these as a main source of the topic. Xenia is the ancient Greek word for â€Å"hospitality†, which is the consideration and kindness shown to those who are far from home and/or associates of the person bestowing xenia upon them. The rituals of hospitality created and conveyed a reciprocalRead MoreThe Epic Poem The Odyssey 1459 Words   |  6 PagesHospitality has been around and important to cultures for almost forever. In the epic poem The Odyssey by Homer, there are many themes, but the theme of hospitality reoccurs throughout the entire epic. This epic takes place in Ancient Greece after the Trojan War. The main character, Odysseus, is on a journey back home to Ithaca after being away for ten years. Along the way, he must make stops and stays in the homes of the different people during his journey. The individuals that are hosting the strangerRead MoreGift Giving in The Odyssey1007 Words   |  5 PagesGift Giving in The Odyssey Everyone loves to receive gifts. For some it makes them feel special or important. In the Odyssey gift giving can be seen as sign of respect. Xenia, an important aspect to Homeric society, can be described as the guest-host relationship. It was of importance in Homeric society because it was something that could make or break the relationship you have with someone. Throughout the Odyssey xenia influences those who Odysseus comes into contact with impacting the plotRead MoreEssay Homers Hospitality1386 Words   |  6 Pagesthat arose during1600 BC. It was during this time that Ancient Greece began to take form, in both cultural and religious aspects. Historians often refer to this period as Mycenaean, but due to the culture and values embodied in Homer’s poem, The Odyssey, it is also known as the Homeric Age. In Homer’s world, society consisted of city-states controlled by well-respected Kings. The Homeric Age also focused on the importance of religion where all regi ons participated in sacrificial tributes to the GodsRead MoreFamily Reputation And Continuing The Patriarchal Characteristics Of Their Fathers1171 Words   |  5 Pagespatriarchal characteristics of their fathers. In Greek literature, this role is a major theme in many texts. In The Odyssey, by Homer, Telechamascus strives for his father’s approval, while protecting his father’s status. However, in Aristophanes’ Clouds, this goal is not as appealing to Pheidippides as he clearly shows by disrespecting his father throughout the play. In ancient Greece it was extremely important for a boy to have his father present as he grows up. For Telechamascus, who was just aRead MoreOdysseus Appearance And Reality Analysis1488 Words   |  6 Pagesvariety of themes. The one that stands out most is the theme of appearance and reality. It encapsulates the whole text, wither by literal transformations or by the actions and opinions of characters. This essay will look at three different scenes and how they show the themes in different ways. First by looking at Athene and Telemachus, then at Athene and Odysseus in Ithaca and finally at Penelope and the suitors. These three scenes will be used to show how broadly and effectively the themes are usedRead MoreThe Mythology Of The Mesopotamian Civilization1233 Words   |  5 Pagesconnect the dots between nature and a higher power than themselves. Mesopotamians saw gods at work in every aspect of nature and believed every human effort was meant to serve the gods. Zeus was the god o f hospitality and expected all people to exude xenia. In Mesopotamia, religion was the principal unifying and inspiring force which had a much more complex nature than the Neolithic religion. Mesopotamian rulers were seen as extraordinary beings that the gods had appointed. The kings and priests hadRead MoreClassics Essay1953 Words   |  8 Pagesdiscussion of what he says and how he says it. One of the primary ways Odysseus tries to gain Nausicaa’s pity in this passage is through flattery. He says he thinks she might be ‘Artemis’ a powerful goddess. It appears to be a high compliement in the Odyssey to say someone is ‘godlike’ but mistaking a human for a goddess must be even more flattering. This also shows that Odysseus is covering his bases – if Nausicaa were a goddess she would not be offended. Lastly the mention of gods reminds NausicaaRead MoreThe Odyssey By Homer s Odyssey2866 Words   |  12 Pagesâ€Å"Homer’s Odyssey is the only surviving poem from a cycle of poems called the Nostoi (â€Å"the Returns†), which told of the returns home of the various Greek heroes at Troy† (Norcott, 2012). The Odyssey is one of many accounts of the Greek heroes that took part in the Trojan War. Odysseus’ story was just one that survived after all of these years. The story came out as an Epic only because of how the people revered the heroes as they started many trends, such as Odysseus’ Trojan horse. â€Å"These epics lieRead MoreOdyssey Historical Background6500 Words   |  26 PagesThe Odyssey ~ Background Information * The novel covers a 10 year period. * The novel was written approximately in 720 B.C. * The novel takes place in 1230 B.C. ~ during the Bronze age. * The Iliad (written first) and The Odyssey are based on historical events that took place about 1230 B.C. * Both novels are considered epic poems * The Odyssey is defined as a journey. This is the story of Odysseus’ journey back home after the Trojan War. From The Odyssey, Homer chose the

Toddlers in Tiaras Free Essays

Moriah Gates 5/3/12 CPC Research paper Beauty, Money, â€Å"Sexy† Too Soon! Young girls are like a sponge, they soak up anything they see or hear. They are vulnerable and young. Mothers are hurting their children by putting them through beauty pageants–they are setting them up for life’s insecurities like, self esteem issues and eating disorders. We will write a custom essay sample on Toddlers in Tiaras or any similar topic only for you Order Now â€Å"Mommy please no†¦. Mommy no it hurts. I don’t want to do this†¦NOO mommy! † â€Å"I don’t wanna dance, I’m not doing that! † These cries come from young girls who compete in beauty pageants. The most recent pageant that has caused a lot fuss with some parents and others is the TV show TLC Toddlers in Tiaras. Toddlers in Tiaras is a show that is centered on beauty and wining the crown. Beauty, clothes, makeup, hair, pretty dresses, long eyelashes, spray tans, Botox, waxing, the list goes on. It’s just the beginning of many of the girl’s list they must fallow become â€Å"pretty enough† to compete. Pageants are where young girls are primped and primed to look pretty and much older than they really are, and are made to dance and parade around on stage. Girls as young as two are being put into these competitions learning how to dance and act and look like a teenager. These pageants are teaching girls at a very young age to dress, look and be â€Å"sexy† the way to win. Parents also start doing pageants for money, and the beauty. When girls start dressing in â€Å"grown up† looking clothes, it is taking away their chance to be a child. Children should be allowed to play in the mud and on the play grounds not made to wear loads of makeup, fake hair, and flippers for their smile, and act like a grown up. Mothers express their desire for their daughters to win, and to be the best. One mother said in an interview, how her daughter is on stage. â€Å"My daughter is the Triple F, five, fearless, and ferocious. Her daughter also chimed with an answer to her mother’s question, asking her about how she like money and modeling. The daughter says she loves money, and money is her favorite thing! With pageants pushed to the side this mother and daughter have been doing modeling and the mother said has made $30,000 in modeling her daughter. The little girl said, â€Å"With modeling, you have to take pictures, be on commercials, and get paid, that’s my favorite part, it’s all about the money! † CNN article wrote, they interviewed a Toddlers in Tiaras, mother who flat out said, â€Å"I love living vicariously through my three year old daughter, Paisley†. That seems to be the common answer for why these mothers are putting their daughters through these pageants. When watching some of the shows, a majority of the mothers of the girls are overweight, don’t have a good job, and have health problems. The mothers use their young vulnerable daughters, to live their dreams of fame and recognition. Some mothers say they will do anything to put their daughter in to competition, some mothers’ say they will take out a second lone if it means having her daughter win. The family somehow finds the money to make the pageant happen for their girls, yet really they see themselves up there in the spotlight doing all the moves not their four year old daughter. What are we doing to our children when we teach them that they have to be â€Å"sexy† to be pretty, and have to look like x,y and z to be pretty. Mothers are putting four year olds into stripper outfits, they dress their girls up as famous actresses like Julia Roberts in the move â€Å"Pretty Woman. † Julia wore a stripper outfit in the movie, and the mother dressed her three year old to be her look alike. † An article, by Fox News says: â€Å"As a treatment of professional sex offenders as well as victims of sexual abuse, I would like the parents of these little girls to assume responsibility for their choices. They are sexualizing their young children. Do not be surprised if your child is preyed upon as a result of this high degree of visibility,† said Dr. Nancy Irwin, a Los Angeles-based psychotherapist. â€Å"Men can pose as agents/managers and track you/your girl down through the show. Further, know that they will be pleasuring themselves while looking at your daughter’s YouTube clip. † We are grossed out by pedophiles and people who take advantage of our kids, yet we are ok letting our kids run around in out fits that are very sexual. Some say that it’s just a title ‘child beauty pageant’ but it’s much more! It’s a sexualization pageant. Young girls are put in skimpy clothes and taught to do dance moves like bumps and grinds, this not looking at beauty, its teaching girls that beauty is highly sexualized and they have to be sexual to be beautiful. Just thinking about the pressure that is put on the girls is hard to imagine, they are four and younger, they should not be worried about how their hair is or how â€Å"pretty† they look, yet mothers stress the very factor of beauty. They get professional photographers to take model pictures and when they get the pictures back the girls are modified so much they look like a china doll. They are photo-shopped to the point where the child begins to like they way they look in photos. When the pictures young girls see are photo-shopped selves, they don’t see their true beauty. Girls already have pressure on them to look a certain way and then, when they start pageants, they are pressured into having beauty treatments done. With pageant shows, there is only one winner, and they are the only ones who get the crown. The others are not rewarded and not recognized for their hard work. The pageant girls grow up with attention fully on her, all the time and then, when it goes away, what happens? These girls are going to grow up with eating disorders and self esteem problems. They are going to feel like they are never good enough, or pretty enough to get the judge’s approval. The judges, judge and score the girls physical features and talent, looking for something that stands out from the rest of the girls. They are not looking at the girl, or how young and venerable she is. Nor do they think of the effects that this pageant will have on her. For example, when the girls forget the dance move and mess up, the mother might berate the child for her forgetting her part. The girls feel hurt and broken because they didn’t do well enough for their mother. Most parents in the show Toddlers in Tiaras tell their children â€Å"If you do really good in this pageant what will this mean? The child, Mommy and daddy will be happy cause I will bring home lots of money. † â€Å"That’s right, mommy and daddy will be proud if you win because it means lots of money! Money is what parents push on them and that they must win. What is it doing to their children when the pressure is money, if they do not the child doesn’t feel love or important to their parents and they feel worthless. Children pick up on things and can read their parents actions; if the parents are not happy with them then the child feels afraid. They soak up anything they hear and see. We should be protecting our children not endanger them by our carless wants. Bibliography (I forgot to do the right way to do the bibliography, I will fix it next essay) How to cite Toddlers in Tiaras, Papers

Role of Computational Support in Decision Making- myassignmenthelp

Question: Write about theRole of Computational Support in Decision Making. Answer: According to Mintzberg, (2009), management is a craft that is based on several sciences. One of these sciences is decision making. Mintzberg suggested that there are three path ways to decision making seeing first, thinking first, and doing first. Doing first refers to trial and error. Seeing first refers to research while thinking first refers to a logical analyses of the steps to be taken. Decision theory is important to help leaders in business, government and all other fields understand a decision completely. The job of managers, essentially, is to take decisions that will drive the organization towards is primary goals.(Turban Aronson, 2001) A variety of computational support tools like statistics, data visualization, heuristics, etc. are available to manager to help them make these decisions. Any organization and leader must have a balance between normative decision making i.e. making decisions based on what ought to be, and descriptive decisions (decisions based on what is). A combination of these two approaches to decision making is prescriptive decision making or decision making that exploits the logical consequences of normative studies by a(McFall, 2015) Decision making requires an evaluation or imagination of the consequences that may occur, in case a decision is made.(McFall, 2015)(Simon, 1979) Computational support, in the form of data, metrics, statistical analyses, heuristics etc. help provide some certainty to this evaluation. Data analyses and forecasts may help validate decisions. As mentioned earlier, Mintzberg suggested that decision making is a craft, the accuracy of which depends on the context.(Mintzberg, 2009) Computational support helps provide this context. In addition, data assigns tangible, real numbers to vague, abstract ideas like utility, consumer satisfaction etc. The predictive power of computational science helps understand and visualize the shape and scale of the environment around us, thus, helping predict various variables such as returns, costs etc. at various points in time or at various points on the curve. They help understand all the risks associated with a decision. Thus, computational data helps validate the arm chair theories or intuitive thinking.(Simon, 1979)(Gigerenzer, 2017) Human decisions are complex and must take into account a variety of factors. No human activity takes place in a vacuum where the consumer is able to make free, fair and rational decisions. In fact, the more information that would be available, the greater would be the odds that humans would suffer from bounded rationality. Bounded rationality refers to the tendency to take sub optimal decisions due to mental fatigue that may be experienced due to making decisions based on too many choices. Theories or normative standards make various assumptions such as rationality of consumers but computational support helps verify the extent to which these are true (McFall, 2015)(Simon, 1979) Computational support utilizes the information provided by the information systems of an organization (human information, accumulated data and research) to process it and provides output in the form of comprehensive answers. Computation support does not only help make smart decisions but also help validate the decisions. This improves the confidence in those decisions.(Gigerenzer, 2017) Bibliography Gigerenzer, G. (2017, January 26). How do smart people make smart decisions? Retrieved April 13, 2018, from Youtube.com: https://www.youtube.com/watch?v=-Lg7G8TMe_A McFall, J. P. (2015). Rational, Normative, Descriptive, Prescriptive, or Choice Behavior? The Search for Integrative Metatheory of Decision Making. Behavioral Development Bulletin 20(1) , 45-59. Mintzberg, H. (2009, October 14). LancasterManagement: Henry Mintzberg on Decision Making. Retrieved April 13, 2018, from Youtibe.com: https://www.youtube.com/watch?v=DyvXu3lSSG0 Simon, H. A. (1979). Rational Decision Making in Business Organizations. THE AMERICAN ECONOMIC REVIEW , 494-514. Turban, E., Aronson, J. E. (2001). Decision Support Systems Intelligent Systems: 6th Edition. Upper Saddle River, NJ, USA: Prentice Hall.

The implications of Dementia Essay Example For Students

The implications of Dementia Essay Dementia We will write a custom essay on The implications of Dementia specifically for you for only $16.38 $13.9/page Order now The problem- The term Dementia is used loosely to depict a scope of marks and symptoms which involves the progressive diminution in a personals mental abilities ; it is an issue faced by around eight hundred thousand people in the United Kingdom entirely. The ‘umbrella term’ Dementia is a consequence of harm caused to the encephalon by specific diseases such as Alzheimer’s, or a injury within the encephalon ; this so consequences in an extraordinary decease of encephalon cells. Once these encephalon cells begin to decease they can non be replaced and hence the encephalon begins to shrivel. This is called Brain Atrophy ; this is a progressive and on-going consequence to the encephalon that can non, at this present clip, be cured. There are many different marks and symptoms of the oncoming of Dementia these include ; memory loss, freak out, trouble with perceptual experience, trouble with cognitive thought, alterations in behavior and many more. Although these are the typical ma rks and symptoms of Dementia, no two patients’ enduring from Dementia will expose this in the same ways. Dementia is most normally found in people over the age of 60 five old ages old ; as Dementia is difficult to diagnosis a GP may mention patients to a Dementia specializer ; such as a brain doctor who would run a series of trials to find if Dementia is a likely diagnosing. One trial used is the Mini-Mental State Examination ( MMSE ) which assesses a scope of mental capacities such as long and short term memory, linguistic communication accomplishments and concentration degrees. Blood trials may besides be run to except any different conditions that might demo Dementia symptoms but non necessary consequence in Dementia. Once other conditions are ruled out encephalon scans are taken, to do the official diagnosing of Dementia. There as several encephalon scans that can be used, such as ; a Computerised Tomography ( CT ) scan which can assist give elaborate images of the encephalon and demo more information of shots, encephalon harm and other diseases. A Magnetic Resonance Imaging ( MRI ) scan can besides be used to corroborate Dementia and the specific type of Dementia the patient may hold ; as an MRI scan clearly shows harm to any blood vass plus any Brain Atrophy. Different types of Dementia can be diagnosed and can ensue in different methods of interventions and medicine. Alzheimer’s disease is the most common cause of Dementia, doing 55 % of all Dementias. Alzheimer’s leads to steel cell decease and tissue loss and shrinks the encephalon dramatically. The cerebral mantle shrivels up damaging countries of the encephalon that affect thought, administration and memory. Besides ventricles within the encephalon Begin to turn larger and plaques- unnatural bunchs of proteins- signifier between the nervus cells ; while deceasing nervus cells contain tangles which are caused by distorted strands of other proteins. All of these consequences in loss of encephalon map and activity. Fig 1. –A healthy encephalon activity V Alzheimer’s sick person encephalon activity. hypertext transfer protocol: //www.intmath.com/blog/learning/use-it-or-lose-it-5411 Vascular Disease is the 2nd highest cause of Dementia ; caused by an break of blood supply to the encephalon. Any signifier of break of blood flow to the encephalon, either a leak or a obstruction can do a shot, which so in bend causes harm to the specific portion of the encephalon that was starved of blood. Although one big shot can do symptoms of Dementia, several smaller shots can besides bit by bit develop marks of Dementia in a patient. However, Vascular Disease can besides be cause by a disease called Small Vessel Disease. ; this is when damaged is caused to the little vass in the encephalon. Dementia with Lewy Bodies, is the cause of four per centum of Dementia’s and is closely linked to Alzheimer’s and Parkinson’s Diseases. Lewy Bodies are little parts of proteins that develop from inside nervus cells. They disrupt communicating, as they disturb the chemical messages that are sent between nervus cells. Lewy Bodies can impact any portion of the encephalon and are known to do hallucinations, deficiency of concentration and a diminution in physical abilities, likewise to those who suffer with Parkinson’s disease. .u2eb0e1928e71ebba12aca1a4ee1dc8bd , .u2eb0e1928e71ebba12aca1a4ee1dc8bd .postImageUrl , .u2eb0e1928e71ebba12aca1a4ee1dc8bd .centered-text-area { min-height: 80px; position: relative; } .u2eb0e1928e71ebba12aca1a4ee1dc8bd , .u2eb0e1928e71ebba12aca1a4ee1dc8bd:hover , .u2eb0e1928e71ebba12aca1a4ee1dc8bd:visited , .u2eb0e1928e71ebba12aca1a4ee1dc8bd:active { border:0!important; } .u2eb0e1928e71ebba12aca1a4ee1dc8bd .clearfix:after { content: ""; display: table; clear: both; } .u2eb0e1928e71ebba12aca1a4ee1dc8bd { 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; } .u2eb0e1928e71ebba12aca1a4ee1dc8bd:active , .u2eb0e1928e71ebba12aca1a4ee1dc8bd:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u2eb0e1928e71ebba12aca1a4ee1dc8bd .centered-text-area { width: 100%; position: relative ; } .u2eb0e1928e71ebba12aca1a4ee1dc8bd .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u2eb0e1928e71ebba12aca1a4ee1dc8bd .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u2eb0e1928e71ebba12aca1a4ee1dc8bd .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; } .u2eb0e1928e71ebba12aca1a4ee1dc8bd:hover .ctaButton { background-color: #34495E!important; } .u2eb0e1928e71ebba12aca1a4ee1dc8bd .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u2eb0e1928e71ebba12aca1a4ee1dc8bd .u2eb0e1928e71ebba12aca1a4ee1dc8bd-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u2eb0e1928e71ebba12aca1a4ee1dc8bd:after { content: ""; display: block; clear: both; } READ: THE FUTURE OF PUBLISHING EssayImplications- Deductions of Dementia chiefly include, fiscal, emotional and societal. Dementia costs ?26.3 million a twelvemonth ; that means that over ?30,000 a twelvemonth goes towards caring for an single patient ( as shown in figure two ) . Even though this big sum of money goes to each patient merely ?90 of it goes towards research, to enable farther apprehension of Dementia and its related diseases. This is needed in order to handle and better quality of life for patients with Dementia, intending that although research is being done it is non being funded significantly. Therefore these costs will go on to be a strong deduction of Dementia. In most instances two tierces of the costs fall on the patient or onto their loved 1s. Families tend to hold to offer non merely societal and emotional support but besides finicky support. Close relations such as partners or kids frequently become carers for their suffering household member ; burthening them with going full clip carers frequently around a full clip occupation and household. These people are unpaid, unaided and decidedly overworked. Research in 2013, by the Alzheimer’s Society ( Shown in figure three ) demoing it was worked out that 1,3,40,000,000 hours were spent looking after people with dementedness, this clearly shows the monolithic affect Dementia has on people’s lives. hypertext transfer protocol: //www.slideshare.net/Emergency-Live/as-downloadable-infographics Although, the fiscal loads must be noted, the greater deduction of a diagnosing of Dementia is the societal and emotional effects on the patient and their loved 1s. However, the strain on attention places and NHS wards get bying with patients with Dementia is great ; normally due to miss of staffing when these patients frequently need one on one attention. Many NHS trusts have attempted to foreground the immense effects of Dementia on life styles. Guy’s and Thomas’ NHS Trust foundation did this successfully through a series of six short movies called ‘Barbara, the whole story’ this follows an aged adult female acquiring diagnosed with Dementia, and show’s her agony from the symptoms. As the movie is done through her eyes, it is really affectional and inquiries the spectator on their personal behaviors towards those with Dementia and besides highlights the utmost hardships the patient and their households endure. This picture was shown to all staff at Guy’s and Thomas’ NHS Trust and have had a batch of positive responses to this from staff members: â€Å"Barbara’s Story is a powerful reminder of merely how of import everyone’s part is when it comes to making a safe and positive environment.† said one staff member. This picture has successfully highlighted the societal and emotional deductions of Dementia for the patient, household and care/ medical staff. Fig. 4- Barbara’s Story explained on the Trust web site. hypertext transfer protocol: //www.guysandstthomas.nhs.uk/education-and-training/staff-training/Barbaras-story.aspx Possible Solutions- There is no existent solution for Dementia, nevertheless there are exclusions to the regulation ; Dementia caused by vitamin and thyroid endocrine lacks. This can be corrected by addendums. Besides some Dementia’s caused by tumors or head hurt can be treated and corrected surgically, successfully halting marks of Dementia. Research has shown that although there is no remedy, bar of farther harm to the encephalon is advised. This means that the hazards factors should be controlled, these include ; high blood force per unit area, high cholesterin, smoke, diet and exercising and besides sing Diabetes, type one, is controlled. In order to forestall farther harm there are several medicines used that have shown to impact different phases of Dementia. Not all patients enduring with Dementia will have medicine as it depends on the badness and type of Dementia they are enduring with. Acetylcholinesterase inhibitors, is a medicine used to handle mild/ moderate Alzheimer’s, every bit good Lewy Bodies Dementia. It is a chemical that prevents the acetylcholinesterase enzyme from interrupting down acetylcholine, which increases both the degree and continuance of action of the neurotransmitter acetylcholine. The function of acetylcholine in knowledge in the cardinal nervous system is to command memory and acquisition. This means that the symptoms of memory loss and deficiency of apprehension is reduced. This medicine is proven to besides be good at commanding hallucinations, and is used for patients with Parkinson’s every bit good as Dementia. Side effects include sickness and emesis but this is normally impermanent for the first few hebdomads. Acetylcholinesterase inhibitors can besides decelerate a patient’s bosom rate, so this would necessitate to be monitored. .uea76efd67b60787ff4a26d32f4f7eeba , .uea76efd67b60787ff4a26d32f4f7eeba .postImageUrl , .uea76efd67b60787ff4a26d32f4f7eeba .centered-text-area { min-height: 80px; position: relative; } .uea76efd67b60787ff4a26d32f4f7eeba , .uea76efd67b60787ff4a26d32f4f7eeba:hover , .uea76efd67b60787ff4a26d32f4f7eeba:visited , .uea76efd67b60787ff4a26d32f4f7eeba:active { border:0!important; } .uea76efd67b60787ff4a26d32f4f7eeba .clearfix:after { content: ""; display: table; clear: both; } .uea76efd67b60787ff4a26d32f4f7eeba { 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; } .uea76efd67b60787ff4a26d32f4f7eeba:active , .uea76efd67b60787ff4a26d32f4f7eeba:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uea76efd67b60787ff4a26d32f4f7eeba .centered-text-area { width: 100%; position: relative ; } .uea76efd67b60787ff4a26d32f4f7eeba .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uea76efd67b60787ff4a26d32f4f7eeba .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uea76efd67b60787ff4a26d32f4f7eeba .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; } .uea76efd67b60787ff4a26d32f4f7eeba:hover .ctaButton { background-color: #34495E!important; } .uea76efd67b60787ff4a26d32f4f7eeba .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uea76efd67b60787ff4a26d32f4f7eeba .uea76efd67b60787ff4a26d32f4f7eeba-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uea76efd67b60787ff4a26d32f4f7eeba:after { content: ""; display: block; clear: both; } READ: Edies life EssayAnother drug used in intervention of Alzheimer is Memantine hydrochloride. It was foremost produced in 1968 and is still seen as the most consequence intervention of moderate to function Alzheimer’s. This medicine blocks the effects of chemicals in the encephalon. One common symptom of Dementia is depression, as patients frequently feel entirely and scared. Therefore antidepressants are frequently prescribed as a method of intervention for this symptom. Another common symptom is a alteration in behavior. Therefore, major tranquilizers are sometimes used to assist command a patient with Dementia’s ; aggressive or disputing behavior. However major tranquilizers should merely be used short term and with careful consideration ; due to inauspicious side effects ; such as deterioration of other Dementia symptoms and cardiovascular diseases. Psychological methods of intervention are effectual with assisting patients and carers manage the symptoms of Dementia ; unluckily it does non decelerate down the patterned advance of Dementia. These methods focus on cognitive stimulations advancing encephalon activity, memory, job resolution and communicating. These vary from group activities and games, the Alzheimer’s Society offers ‘Singing for the brain’ within communities ( as shown in figure five ) ; where people with Dementia and their carers go to develop societal accomplishments, memory and to give them something to maintain them active and positive. Although there is no ‘solution’ for Dementia ; one of import bar and assistance to assisting those with Dementia is attention and support. As antecedently mentioned households and carers are put on greatly to socially, emotionally, physically and finically back up their loved 1. However, this love, support and attention can do the ultimate difference to how a individual copes with Dementia, particularly in the late phases when it is frequently alone and most confusing and terrorization. Fig. 5- A group at ‘Singing for the Brain’ hypertext transfer protocol: //www.alzheimerswiltshire.org.uk/services/singing/singing-for-the-brain.html Evaluation- Several medicines have found to cut down the symptoms of Dementia in its assorted phases of badness. However, no remedy or solution has yet been found and although the drugs are effectual they still have some major side effects. Such as Acetylcholinesterase inhibitors, that in utmost fortunes can do bradycardia in patients. Whereas, other interventions such as major tranquilizers used to command a patients behavior can hold inauspicious side effects such as declining other symptoms of Dementia and can do cardiovascular diseases. This shows that even though this drugs are effectual in commanding some symptoms of Dementia, the side effects can be highly damaging to the patients overall well-being. Dementia inflicts fiscal battles on the NHS and for persons and households enduring with Dementia ; nevertheless non adequate money is traveling towards research into Dementia, this is an country that needs to be addressed. From research, I have found The Alzheimer’s Society offers a huge sum of information and support to those with Dementia and their households and carers ; every bit good as offering advice for wellness attention professionals. It is clear to see that the chief intervention that can be given to those with Dementia is love, attention and support. Brodie Smart Word Count: 1,858 Bibliography of Internet Resources: hypertext transfer protocol: //www.nhs.uk/conditions/dementia-guide/pages/about-dementia.aspx hypertext transfer protocol: //www.nhs.uk/Conditions/dementia-guide/Pages/dementia-diagnosis.aspx hypertext transfer protocol: //www.alzheimers.org.uk/braintour hypertext transfer protocol: //www.radiologyinfo.org/en/info.cfm? pg=headct hypertext transfer protocol: //www.nhs.uk/Conditions/dementia-guide/Pages/dementia-diagnosis-tests.aspx hypertext transfer protocol: //www.alzheimers.org.uk/site/scripts/documents_info.php? documentID=100 hypertext transfer protocol: //www.intmath.com/blog/learning/use-it-or-lose-it-5411 encephalon movie hypertext transfer protocol: //www.alz.org/braintour/alzheimers_changes.asp hypertext transfer protocol: //www.slideshare.net/Emergency-Live/as-downloadable-infographics -cost hypertext transfer protocol: //www.guysandstthomas.nhs.uk/education-and-training/staff-training/Barbaras-story.aspx hypertext transfer protocol: //www.youtube.com/watch? v=DtA2sMAjU_Y hypertext transfer protocol: //www.lse.ac.uk/newsAndMedia/news/archives/2014/09/Dementia.aspx hypertext transfer protocol: //www.alzheimers.org.uk/site/scripts/documents_info.php? documentID=102 hypertext transfer protocol: //en.wikipedia.org/wiki/Acetylcholinesterase_inhibitor hypertext transfer protocol: //www.nhs.uk/conditions/dementia-guide/pages/dementia-treatment.aspx hypertext transfer protocol: //www.nhs.uk/Conditions/dementia-guide/Pages/living-well-with-dementia.aspx hypertext transfer protocol: //en.wikipedia.org/wiki/Memantine hypertext transfer protocol: //www.alzheimerswiltshire.org.uk/services/singing/singing-for-the-brain.html Brodie Smart

Top Common College Regrets

Top Common College Regrets Sometimes we wish we could go back in time and change something in the past. Unfortunately, its impossible. But what if you could know the main pitfalls of studying in college? What if you could know how to avoid making those mistakes? We have asked former students to let us know what their main college disappointments were and these were the six most common regrets: 1. Not Making Enough Friends â€Å"I am rather a shy person. When studying at college, I thought that a couple of people whom I had been friends with since high school would stay on my side through the whole my life. I didnt think that I should befriend new people in college and I didnt feel like doing it. However, the time has changed my opinion as my school friends are not my friends anymore. Now I wish I made more friends when I had the chance. There were so many interesting, diverse people, passionate about their hobbies, who I could invite into my life to enjoy this friendship for a long time. But I missed my chance.† Alice, College for Creative Studies, Detroit Maintaining friendships in college might seem hard. However, making friends after graduation is not any easier. Actually, it is much harder. Why is college a perfect time to find friends for life? College allows you to study and live among lots of other people of your age. Its easier for you to find people with whom you share the same interests and hobbies. You can meet new people almost every day on campus or at parties, college events, and group studies. Its easier to start a conversation as you already have something in common – your learning institution. Being too busy to hang together or struggling to find people with similar interests doesnt make it any easier for people to build new friendships after graduation. So, its not uncommon for adults of 25-35 years to feel lonely and socially awkward, mainly because they havent made friends through their study years. 2. Choosing the Wrong Major â€Å"I thought that I had a lot of time to think about what I want to do with my life. I thought that it wasnt that hard to pick a major. What do you need to do? Just think what you like doing, and thats it. This is what I thought. Now I know that picking a major without actually investigating into the field, researching about your future job – responsibilities, duties and average salaries, makes you regret your decisions.† Craig, Cornell College, Mount Vernon Of course, picking the wrong major is not the type of problem that cant be fixed, but it might cause a lot of difficulties with employment. So, think twice before making a decision. 3. Being Too Stressed out About Grades â€Å"Oh, my God! Grades, deadlines, assignments! Thats all that I was thinking about. I pulled all-nighters, drank too much coffee, and didnt pay any attention to my social life. As a result, I had no friends or relationships, and all my college memories are tied to digging the Internet in an attempt to find another fact for my research paper. Dont do that, guys. Your GPA wont be engraved on your tombstone.† Becka, St. Olaf College, Northfield Grades are important. But they dont define you. Placing them into the center of your life might cause you to give up your social life, friends, hobbies, and instead spend all your time studying. Remember the rule of â€Å"80/20† (a â€Å"Pareto principle† that states that generally 80% of results come from the 20% of effort) dont study longer, study more productively instead. And dont let grades rule your life. 4. Not Exploring Your Opportunities â€Å"A few years after graduation, Im jealous of my dorm roommate who was always busy with something. He was involved in different projects and used every chance to get the most out of our college. For example, he traveled abroad to study, worked on campus, was taking internships, and made so many friends in different clubs. Now I understand that he just used opportunities that I was too lazy to ask about in spite of them being right in front of me.† Mike, Swarthmore College, Swarthmore Your college might offer you much more than you know. Just conducting a little research on what facilities you have access to or what events you can attend will make a big difference. Its not uncommon for students to pay for a gym while there is an opportunity to use one for free on campus. They just didnt know because they didnt ask. Dont miss your opportunities and explore more. 5. Not Being Single â€Å"The long-distance relationship that I had in college makes me cringe now. I thought that all the inconveniences that I experienced were worth it. Guess what? They were not.† Sophie, Earlham College, Richmond Some former students regret being in a relationship through their college years, while others regret being single. There might be no â€Å"right† or â€Å"wrong† until what you do makes you happy. If your college relationship makes you enjoy yourself and your significant other, chances are high that you will have great memories about these years later on. However, if you feel unhappy, make sure to do what you can to fix the problem. Dont waste your time on people who dont want to spend their time with you. 6. Not Paying Enough Attention to Finances â€Å"My student loan was something that seemed abstract to me. I wasnt educated on how to manage my finances and wasnt smart enough to try to learn more about it myself. As a result my biggest regret is that I missed a lot of time and opportunities to pay my loan faster.† Cecil, Reed College, Portland Managing finances in college and after graduation is something many people face with fear. Not all of them understand what they need to do or how the banking system works. Thats why when it comes to student loans, a lot of former students regret not knowing enough to act wiser with their financing. For example, not many students know that they can refinance their loans, split their payments, or sign-up for auto-pay to avoid missed payment deadlines. Wrapping Up Picking the wrong learning institution or wrong major might be a big regret, but it doesnt mean that you cant change everything for the better. We hope these common college regrets will help you avoid making mistakes or at least will let you know that most people have at least one thing to regret. Let us know what your college regrets are, if any. Good luck!

Thomas W. Stewart, Inventor of the Wringing Mop

Thomas W. Stewart, Inventor of the Wringing Mop Thomas W. Stewart, an African-American inventor  from Kalamazoo, Michigan, patented a new type of mop (U.S. patent #499,402) on June 11, 1893. Thanks to his invention of a clamping device that could wring water out of the mop by using a  lever, floor cleaning was not nearly the chore it once was. Mops Through the Ages Throughout much of history, floors were made out of packed dirt or plaster. These were kept clean with simple brooms, made from straw, twigs, corn husks, or horse hair. But some kind of wet cleaning method was needed to care for  the slate, stone, or marble floors that were a feature of the homes of the aristocracy and, later, the middle classes. The word mop goes back probably as far as the late 15th century, when it was spelled mappe in Old English. These devices were likely nothing more than bundles of rags or coarse yarns attached to a long wooden pole. A Better Way Thomas W. Stewart, one of the first African-American inventors to be awarded a patent, lived his whole life trying to make peoples everyday lives easier. In order to save time and ensure a more healthy environment in the home, he came up with two improvements to the mop. He first designed a mop head that could be removed by unscrewing it from the base of the mop handle, allowing users to clean the head or discard it when it wore out. Next, he designed a lever attached to the mop head, which, when pulled, would wring water from the head without users getting their hands wet. Stewart described the mechanics in his abstract: 1. A  mop-stick, comprising a stick proper, provided with the T-head having the grooved ends, forming one portion of the clamp, the rod having a straight portion forming the other part of the clamp and from thence converging rearwardly to the sides of the stick, a lever to which the free ends of said rod are pivoted, a ring loose on the stick, to which the forked ends of the lever are pivoted, and a spring between said ring and the T-head; substantially as set forth. 2. The combination of a mopstick provided with a T-head, forming one part of the clamp, a moveable rod forming the other part of the clamp, a lever to which the free ends of said rod are pivoted, said lever being fulcrum-ed to a moveable support on the stick, and a spring exerting a resistance against the lever when the latter is thrown back; substantially as set forth. Other Inventions Stewart also co-invented with William Edward Johnson an improved station and street indicator in 1883. It was used with railways and cars on the street to signal what road or street the vehicles were crossing. Their indicator would automatically activate a signal by means of a lever on the side of the track. Four years later, Stewart invented an improved metal-bending machine that was able to oscillate.

Contemporary Issues in Economics Research Paper

Contemporary Issues in Economics - Research Paper Example Therefore, this paper will seek to explicate some of the main factors that determine the gas prices, problems, causes and solutions. First and foremost, it is important to note that the supply and demand market place determines the worth of fuel. This is because an increase in demand and a decline in supply will automatically lead to a rise in price. On the contrary, if the demand goes down or there is an upsurge supply, then the fuel price will automatically decrease. In case a retailer decides to market its gas at a high price without considering the pricing of the competitors, then consumers will go and buy gas from the competitor selling at lower prices. When this happens, the retailer will lose business due to the high pricing and this will compel him to lower his gas prices in order to be competitive and maintain his customers (â€Å"What Affects Fuel Pricing†). Retailer competition also affects gas prices and this can be grasped by the differences in price on stretches of highways that have multiple gas retailers. When there are several choices that consumers can choose from; then it boils down to more competition on the retailers’. In as much as many retailers carry gas and oil from major oil corporations, they are independent merchants of the product. This implies that they have the freedom to set the prices the way they so wish. Chevron Corporation asserts that, crude oil is merchandized on the global market just like agricultural products such as corn and wheat, and precious metals such as silver and gold. In recent times, the prices of crude oil have increased dramatically as a result of the rising world demand and political instability in most of the oil producing countries (â€Å"What Affects Fuel Pricing†). Crude oil is the most important raw material used in gasoline and other petroleum products production. Therefore, it plays an integral in determining the price of gasoline. Crude oil price may be up to half the cost of one

China's debt Essay Example | Topics and Well Written Essays - 1000 words

China's debt - Essay Example The largest banks in China lent more than twice the level of bad debts in the year 2013 as they had in 2012 (Jadhav, Neelankavil & Andrews, 2012). Australian banks have lent China an alarming 75 percent more than their usual amount. Their aim, however, is to gain exposure to Asia’s economy in the powerhouse sector. The World Bank has also been a major lender to the Chinese government but on concessionary terms. These finances, however, arise from indirect contributions of the United States, which is the largest contributor to the World Bank. The finances from China are round- tripping as the U.S. massively borrows from China. China has used its borrowed funds, which are mostly Chinese-owned, in the public sector. Some of the national projects that China has involved itself in using the borrowed funds are the construction of sundry new buildings (Koo, 2013). These constructions include homes and offices, some of which are unoccupied over the years. According to the State grid, the new constructions have zero billing on electricity. The established investment platforms for the local government in 2009 have led to a high increase of the outstanding debt by nearly 70 percent. China’s debt also funded several investments in infrastructure (Bailey, Huang & Yang, 2011). These include roads built in 2011. Infrastructure was more profitable than the boom of construction of houses in China. The Chinese situation of being a state with so much debt has had both positive and negative effects on its people. Due to the construction of new houses by the state in 2011 in a bid to try to evade the economic crisis that hit the world in 2008, property prices increased. The nationals had a problem measuring up to this change. The local government raised interest rates of bonds in the money market in China. The inflation increased in the country characterized by increased loan screening (Liu, 2010). The debts have led to declining economic growth

Compensation trends in the United States Essay Example for Free

Compensation trends in the United States Essay The current trend of globalization, technical revolution and competition, has had dynamic impact on the compensation trends worldwide, as well as within United States. The whole ladder of compensation from agriculture to Information technology has seen an upsurge in compensation. The economic conditions, the political support and the globalization have played an important role in setting the curve for this trend. There is greater awareness, increased skill, enhanced efficiency and wider range of choices. The human resource has become a more valued, competitive and specialized force affecting the future of economy and industry. They have the bargaining power, and capacity to mould the pattern of growth in every arena of service, research, education, health and industry. â€Å"The RAND Corporation, in a report prepared at the request of the U. S. Department of Labor, says three trends will shape the labor force and employment relationships in the coming years: a slowing in the growth rate of the workforce, an acceleration in technological advances, and continued globalization. † (RAND, 2004) â€Å"The Emerging Trends in Human Resources† looks into many trends which would affect the future compensation package for people in United States. He categorizes them in workplace trends which would affect the employers and employees with better technology, higher health insurance, outsourcing, aging and other factors. Demographic factors like growth, retirement and aging. The organizations will need to respond with more strategy to retain and recruit new employees as well as train and upscale them. The political emphasis on economy, growth and outsourcing will guide the future trend dramatically. The trends of the society will dictate the nature of the work force and the balance of the compensation. International trends like expansion of businesses globally, rise of Asian market and emerging off shoring giants like India, china, Philippines and others add more to the competitive edge. (Greene, 2006-2007) Most companies have turned to total rewards and pay-for-performance programs as a vehicle for maximizing return on investment and employee potential. Variable pay is now a major part of compensation design for nearly 80% of U. S. companies, according to our Salary Increase Survey. Having the best people is more important than ever, especially in a business environment focused on value creation. In fact, many experts believe that attracting, motivating, and retaining the best talent is one of the greatest obstacles to growth over the next decade. Smart companies are finding ways to get the most from their investment in compensation and rewards without sacrificing the ability to compete for talent. (Hewitt, 2007) According to the report, titled, The 21st Century at Work: Forces Shaping the Future Workforce and Workplace in the United States. (RAND,2004) These trends have important implications for vital aspects of the future workplace and workforce and for the U. S. economy. These trends will affect the size, makeup, and skills of the labor force, the kinds of work and its settings, and worker compensation. Understanding these trends will help workers, employers, educators and policymakers make informed decisions that reflect changing realities. (RAND,2004) There is tremendous promise in the rise of competitive compensation package in most fields with better opportunities for growth in Unites States. The demand for skilled human resource will pave the way for next decade in business, healthcare, services, engineering, IT, and many other fields. This is the period of strategic planning, wide range compensation and timely rewards. Work Cited (2-23-2004). RAND Report Predicts Trends in Labor Force. Retrieved February 23, 2007, from BLR Compensation BLR. com Web site: compensation. blr.com/display. cfm/id/153659 Greene, Keith J. (2006-2007). HR SPHR. Retrieved February 23, 2007, from SHRM Web site: www. fmi. org/humanresources/Emerging_Trends_Presentation. pdf Rothberg, Deborah (29-AUG-2006). Study: Skills Shortage Boosts Salaries. Retrieved February 23, 2007, from e WEEK Careers Web site: www. careers. eweek. com/article/Study+Skills+Shortage+Boosts+Salaries/18739 _1. aspx (2007 ). Compensation Rewards. Retrieved February 23, 2007, from Hewitt Web site: www. hewittassociates. com/Intl/NA/en US/OurServices/ServiceHRC. aspx? cid=2402

Who Should be Considered a Hero in Anglo-Saxon Culture and Today? Essay

Who Should be Considered a Hero in Anglo-Saxon Culture and Today? Today, many children would consider Superman, Spiderman, Batman & Robin, and even possibly Arnold Schwarzenegger in his old film The Terminator as great superheroes. These comic strip heroes even impress adults as courageous men because we cannot get over their legendary and their supernatural skills. For example, Spiderman is well known for the spider webs that emerge from his manly wrist. On the other hand, heroes are not just defined by comic strips or cartoons. Firefighters, police officers and even our fathers or mothers are heroes in many of our lives. The characteristics that we describe our heroes as having today are quite similar to those of heroes in Anglo-Saxon culture. Since the Anglo-Saxons were one of the Germanic tribes who invaded England, they were people who had their own language, values and culture. In the Anglo-Saxon adventurous and popular legend Beowulf, the valiant Beowulf is known to be the Superman during the Anglo-Saxon period. In Anglo-Saxon culture and literatures, the characteristics of a hero are to be bold, strong, fearless, loyal and showing indifference to pain. In addition, Beowulf’s faith and confidence in himself and his role as a warrior in the society are other important factors in being a hero. When Grendel’s mother seeks revenge and runs back to her swamp, Beowulf speaks with confidence to go after her: â€Å"let us go at once to look on the track of Gendel’s kin. I promise you this: she will not be lost under cover, not in the earth’s bosom in the mountain woods nor at the bottom of the sea, go where she will. This day have patience in every woe -- as I expect you to† (25). In additio n to this, Beowulf is, beyond doubt, ... ...ffers slightly from generation to generation, from culture to culture, and from individual to individual. But heroes or heroines are still admired for their bravery, great deeds, or noble qualities. The fearless deeds accomplished by Beowulf are not necessarily required for a person to be considered as a hero or heroine today. Albert Einstein is an American hero because he accomplished many great achievements in science. All the passengers who died on the September 11th flights are also looked upon as heroes or heroines because they faced a horrific terrorist act close up. Fathers can be called heroes in their sons’ eyes because they simply admire their dads. Hence, the word â€Å"hero† has many meanings today. The Anglo-Saxon ideal of a hero was comparatively narrow and limited. Today heroism is defined more broadly. How broad will the term become in the next 25 years?

Investment Analysis and Portfolio Management

EXECUTIVE SUMMARY In an economy, people indulge in economic activity to support their consumption requirements. Savings arise from deferred consumption, to be invested, in anticipation of future returns. Investments could be made into financial assets, like stocks, bonds, and similar instruments or into real assets, like houses, land, or commodities. The aim of Portfolio Manager is to provide a brief overview of three aspects of investment: * The various options available to an investor in financial instruments. The tools used in modern finance to optimally manage the financial portfolio. * Lastly the professional asset management industry as it exists today. Returns more often than not differ across their risk profiles, generally rising with the expected risk, i. e. , higher the returns, higher the risk. The underlying objective of portfolio management is therefore to create a balance between the trade-off of returns and risk across multiple asset classes. Portfolio management is th e art of managing the expected return requirement for the corresponding risk tolerance.Simply put, a good portfolio manager’s objective is to maximize the return subject to the risk-tolerance level or to achieve a pre-specified level of return with minimum risk. 1. Investment and Its objectives Mini Content 2. 1 Define Investment 2. 2 Defining Investment Objectives 2. 3 Goals and Needs 2. 4 Types of investors 2. 5 Investment Process 2. 6 Investments available in India Define Investment Investment is putting money into something with the expectation of gain that upon thorough analysis has a high degree of security for the principal amount, as well as security of return, within an expected period of time. . The action or process of investing money for profit or material result. 2. Two main classes of investment are (i)  Fixed income investment  such as  bonds,  fixed deposits,  preference shares, and (ii)  Variable  income investment such as  business  ownersh ip  (equities), or property ownership. In  economics, investment  means  creation of  capital  or  goods  capable of  producing  other goods or  services. Expenditure  on  education  and  health  is recognized as an investment in  human capital, and  research and development  in  intellectual capital. Return on investment (ROI)  is a key  measure  of an  organization's  performance.DEFINING YOUR INVESTMENT OBJECTIVES: Investing wisely is a function of your speci? c needs and goals. Each investor has different objectives that need to be met depending on age, income, planned activities, and attitudes about risk. How can you work with your investment advisor to best determine which investments are right for you? Among the important factors to consider are personal status, plans, and constraints. Some of the issues that you and your advisor should consider in de? ning the objectives that are right for you are listed below. Goals and Need s: You may have speci? goals and requirements that you want your investment portfolio to ful? ll. For example, you may be funding college for children, business expansion, travel plans, or retirement needs. You should identify these goals and needs clearly with your investment advisor so that his or her recommendations for your portfolio can assist you in meeting them. Age: Your age is an important consideration when deciding how much risk to assume. Portfolio assets that are riskier and that will ? uctuate more over time may be appropriate for younger investors but not for others.An individual who does not expect to liquidate the assets in his or her portfolio for a number of years has more time to recover from a market downturn, while an investor close to retirement may be more likely to prefer stable assets and capital preservation. Age also affects the choice between income-earning securities and those oriented toward capital gains. An investor who is employed and near peak earn ing power will probably want to minimize paying taxes, and will therefore lean toward investments that do not provide current income. Income :Both your absolute income level and your income requirements in? uence your investment objectives in several ways. First, income, like age, in? uences the choice between dividend-paying or interest-paying investments, and those whose primary return is in the form of capital gains. You may prefer income-producing investments if you need to supplement or replace earned income. Your income level also affects your investment choices because it determines your tax rate. Low-tax-bracket investors — generally those whose income is lower — will be more likely to prefer income-producing investments.High-tax-rate investors are more likely to choose tax-deferred or tax-sheltered assets. Income also may in? uence risk preferences. High income investors may be more willing to choose higher risk investments since they can more easily contribut e additional investment capital should they sustain losses. Taxes Your after-tax return is the return that matters. You should fully inform your investment advisor about your tax rate and any special tax circumstances that might apply to you. This will determine whether you should seek tax exempt or tax-sheltered securities as a part of your portfolio.The appropriateness of income or capital gains should be discussed in the context of your personal situation, so you may want your investment advisor to consult with your accountant. Occupation Your occupation also can affect portfolio objectives. Some professions produce more stable incomes than others, enabling the investor to tolerate more investment ? uctuations. Your profession also may determine other assets. For example, does your job provide an adequate retirement plan, or must you fund your retirement from your investment portfolio?If your employer provides a stock-purchase plan, this may be a substantial part of your personal wealth, and you should consider it as a diversi? cation issue when you make other portfolio choices. If you receive tax-quali? ed or tax-deferred assets from your job, these also will in? uence your investment decisions. Wealth Investment objectives should take into consideration the assets you hold outside the portfolio. For example, if you have substantial equity in your home, you may want to minimize real estate holdings in your ? nancial assets, or you may need to consider a different type of real estate asset.If you hold illiquid assets, then new investments may emphasize liquidity. The value of your existing assets will probably affect your tolerance for risk. In addition, your level of wealth has probably in? uenced your lifestyle. Maintaining a desired lifestyle into retirement and throughout will need to be factored into your investment objectives. Time Horizon An important consideration in setting investment objectives is your time horizon. When do you expect to liquidate a portfolio? Should you choose assets of short or long maturity?Do you have time to recover from a declining market, or is capital preservation important to meet an immediate ? nancial need? Liquidity Liquidity is the ease with which you can convert your assets to cash at fair market value. It is essential that you recognize the need to convert your assets into cash at the appropriate times. Do you require a portfolio that can be liquidated easily, or can you afford to wait? Since greater liquidity generally results in lower return, it is necessary to give serious consideration to the inherent tradeoffs. Tolerance for Risk Your tolerance for risk is a very personal decision, and a question that is dif? ult for many investors to answer. In general, markets tend to provide higher returns in exchange for bearing higher risks. Often you will ? nd that the investments with the highest long-term returns are very volatile in the short run. It is important to be honest with yourself in ass essing whether you are comfortable with market volatility, and the level you can tolerate. While it is easy in hindsight to wish you had invested in a risky segment of the market that has performed well recently, a more realistic view is to look forward at the risk that might occur in the future. Other Special CircumstancesAre there other considerations of which your advisor should be aware? Consider here any special needs, goals, or problems you have not already addressed. Types of investors There is wide diversity among investors, depending on their investment styles, mandates, horizons, and assets under management. Primarily, investors are either individuals,in that they invest for themselves or institutions, where they invest on behalf of others. Risk appetites and return requirements greatly vary across investor classes and are key determinants of the investing styles and strategies followed as also the constraints faced.A quick look at the broad groups of investors in the mark et illustrates the point. Individuals While in terms of numbers, individuals comprise the single largest group in most markets, the size of the portfolio of each investor is usually quite small. Individuals differ across their risk appetite and return requirements. Those averse to risk in their portfolios would be inclined towards safe investments like Government securities and bank deposits, while others may be risk takers who would like to invest and / or speculate in the equity markets.Requirements of individuals also evolve according to their life-cycle positioning. For example, in India, an individual in the 25-35 years age group may plan for purchase of a house and vehicle, an individual belonging to the age group of 35-45 years may plan for children’s education and children’s marriage, an individual in his or her fifties would be planning for post-retirement life. The investment portfolio then changes depending on the capital needed for these requirements. Insti tutionsInstitutional investors comprise the largest active group in the financial markets. As mentioned earlier, institutions are representative organizations, i. e. , they invest capital on behalf of others, like individuals or other institutions. Assets under management are generally large and managed professionally by fund managers. Examples of such organizations are mutual funds, pension funds, insurance companies, hedge funds, endowment funds, banks, private equity and venture capital firms and other financial institutions. We briefly describe some of them here. Mutual fundsIndividuals are usually constrained either by resources or by limits to their knowledge of the investment outlook of various financial assets (or both) and the difficulty of keeping abreast of changes taking place in a rapidly changing economic environment. Given the small portfolio size to manage, it may not be optimal for an individual to spend his or her time analyzing various possible investment strategi es and devise investment plans and strategies accordingly. Instead, they could rely on professionals who possess the necessary expertise to manage their funds within a broad, pre-specified plan.Mutual funds pool investors’ money and invest according to pre-specified, broad parameters. These funds are managed and operated by professionals whose remunerations are linked to the performance of the funds. The profit or capital gain from the funds, after paying the management fees and commission is distributed among the individual investors in proportion to their holdings in the fund. Mutual funds vary greatly, depending on their investment objectives, the set of asset classes they invest in, and the overall strategy they adopt towards investments. Pension fundsPension funds are created (either by employers or employee unions) to manage the retirement funds of the employees of companies or the Government. Funds are contributed by the employers and employees during the working life of the employees and the objective is to provide benefits to the employees post their retirement. The management of pension funds may be in-house or through some financial intermediary. Pension funds of large organizations are usually very large and form a substantial investor group for various financial instruments. Endowment fundsEndowment funds are generally non-profit organizations that manage funds to generate a steady return to help them fulfill their investment objectives. Endowment funds are usually initiated by a non-refundable capital contribution. The contributor generally specifies the purpose (specific or general) and appoints trustees’ to manage the funds. Such funds are usually managed by charitable organizations, educational organization, non-Government organizations, etc. The investment policy of endowment funds needs to be approved by the trustees of the funds. Insurance companies (Life and Non-life)Insurance companies, both life and non-life, hold large por tfolios from premiums contributed by policyholders to policies that these companies underwrite. There are many different kinds of insurance policies and the premiums differ accordingly. For example, unlike term insurance, assurance or endowment policies ensure a return of capital to the policyholder on maturity, along with the death benefits. The premium for such policies may be higher than term policies. The investment strategy of insurance companies depends on actuarial estimates of timing and amount of future claims.Insurance companies are generally conservative in their attitude towards risks and their asset investments are geared towards meeting current cash flow needs as well as meeting perceived future liabilities. Banks Assets of banks consist mainly of loans to businesses and consumers and their liabilities comprise of various forms of deposits from consumers. Their main source of income is from what is called as the interest rate spread, which is the difference between the lending rate (rate at which banks earn) and the deposit rate (rate at which banks pay).Banks generally do not lend 100% of their deposits. They are statutorily required to maintain a certain portion of the deposits as cash and another portion in the form of liquid and safe assets (generally Government securities), which yield a lower rate of return. These requirements, known as the Cash Reserve Ratio (CRR ratio) and Statutory Liquidity Ratio (SLR ratio) in India, are stipulated by the Reserve Bank of India and banks need to adhere to them. In addition to the broad categories mentioned above, investors in the markets are also classified based on the objectives with which they trade.Under this classification, there are hedgers, speculators and arbitrageurs. Hedgers invest to provide a cover for risks on a portfolio they already hold, speculators take additional risks to earn supernormal returns and arbitrageurs take simultaneous positions (say in two equivalent assets or same asset i n two different markets etc. ) to earn riskless profits arising out of the price differential if they exist. Another category of investors include day-traders who trade in order to profit from intra-day price changes.They generally take a position at the beginning of the trading session and square off their position later during the day, ensuring that they do not carry any open position to the next trading day. Traders in the markets not only invest directly in securities in the so called cash markets, they also invest in derivatives, instruments that derive their value from the underlying securities. Types of investment in Indian Financial Market Banking SectorIntroductionThe Reserve Bank of India (RBI) is India's central bank.Though the banking industry is currently dominated by public sector banks, numerous private and foreign banks exist. India's government-owned banks dominate the market. Their performance has been mixed, with a few being consistently profitable. Several public sector banks are being restructured, and in some the government either already has or will reduce its ownership. Banks in India can be categorized into non-scheduled banks and scheduled banks. Scheduled banks constitute of commercial banks and co-operative banks. There are about 67,000 branches of Scheduled banks spread across India.During the first phase of financial reforms, there was a nationalization of 14 major banks in 1969. This crucial step led to a shift from Class banking to Mass banking. Since then the growth of the banking industry in India has been a continuous process. As far as the present scenario is concerned the banking industry is in a transition phase. The Public Sector Banks (PSBs), which are the foundation of the Indian Banking system account for more than 78 per cent of total banking industry assets. Unfortunately they are burdened with excessive Non Performing assets (NPAs), massive manpower and lack of modern technology.On the other hand the Private Sector Banks in India are witnessing immense progress. They are leaders in Internet banking, mobile banking, phone banking, ATMs. On the other hand the Public Sector Banks are still facing the problem of unhappy employees. There has been a decrease of 20 percent in the employee strength of the private sector in the wake of the Voluntary Retirement Schemes (VRS). As far as foreign banks are concerned they are likely to succeed in India. Induslnd Bank was the first private bank to be set up in India.IDBI, ING Vyasa Bank, SBI Commercial and International Bank Ltd, Dhanalakshmi Bank Ltd, Karur Vysya Bank Ltd, Bank of Rajasthan Ltd etc are some Private Sector Banks. Banks from the Public Sector include Punjab National bank, Vijaya Bank, UCO Bank, Oriental Bank, Allahabad Bank, Andhra Bank etc. ANZ Grindlays Bank, ABN-AMRO Bank, American Express Bank Ltd, Citibank etc are some foreign banks operating in India. Private and foreign banksThe RBI has granted operating approval to a few privately own ed domestic banks; of these many commenced banking business.Foreign banks operate more than 150 branches in India. The entry of foreign banks is based on reciprocity, economic and political bilateral relations. An inter-departmental committee approves applications for entry and expansion. RBI bankingThe Reserve Bank of India is the central banking institution. It is the sole authority for issuing bank notes and the supervisory body for banking operations in India. It supervises and administers exchange control and banking regulations, and administers the government's monetary policy. It is also responsible for granting licenses for new bank branches. 5 foreign banks operate in India with full banking licenses. Several licenses for private banks have been approved. Despite fairly broad banking coverage nationwide, the financial system remains inaccessible to the poorest people in India. Some of its main objectives are regulating the issue of bank notes, managing India's foreign excha nge reserves, operating India's currency and credit system with a view to securing monetary stability and developing India's financial structure in line with national socio-economic objectives and policies. Indian banking systemThe banking system has three tiers.These are the scheduled commercial banks; the regional rural banks which operate in rural areas not covered by the scheduled banks; and the cooperative and special purpose rural banks. Scheduled and non scheduled banksThere are approximately 80 scheduled commercial banks, Indian and foreign; almost 200 regional rural banks; more than 350 central cooperative banks, 20 land development banks; and a number of primary agricultural credit societies. In terms of business, the public sector banks, namely the State Bank of India and the nationalized banks, dominate the banking sector.RBI restrictionsThe Reserve Bank of India lays down restrictions on bank lending and other activities with large companies. These restrictions, popular ly known as â€Å"consortium guidelines† seem to have outlived their usefulness, because they hinder the availability of credit to the non-food sector and at the same time do not foster competition between banks. Indian vs. Foreign banksMost Indian banks are well behind foreign banks in the areas of customer funds transfer and clearing systems. They are hugely over-staffed and are unlikely to be able to compete with the new private banks that are now entering the market.While these new banks and foreign banks still face restrictions in their activities, they are well-capitalized, use modern equipment and attract high-caliber employees. Grey futureOne more reason being the opacity of the The Reserve Bank of India. This does not mean a forecast of doom for the Indian banking sector the kind that has washed out south east Asia. And also not because Indian banks are healthy. We still have no clue about the real non-performing assets of financial institutions and banks. Many banks are now listed. That puts additional responsibility of sharing information.It is now clear that it was the financial sector that caused the sensational meltdown of some Asian nations. India is not Thailand, Indonesia and Korea. Borrowed investment in property in India is low and property prices have already fallen, letting out steam gently. Our micro-meltdown has already been happening. | Bank Deposit Schemes * Bank Deposit Schemes for Resident Indians * Bank Deposit Schemes for Non Resident IndiansBank deposits are preferred more for their  liquidity and safety  than for the returns thereon. Various banking and other facilities that one gets by opening a bank account viz.ATM cards, ATM-cum-Debit cards, Credit Cards, On-line / Internet banking, collection / realization of cheques and other instruments, safe deposit lockers, better customer service etc. are also a major reason in favour of bank deposits vis-a-vis other options. The deposit accounts offered by banks fall broadly under following categories :Bank Deposit Schemes for Resident IndiansFollowing deposit accounts are offered by banks to Resident Indians: * Savings Bank Accounts:  These accounts are opened for savings, liquidity and safety of funds and convenience in making day to day expenses and also earning some interest income.These accounts inculcate the habit of thrift in account holders. View salient features of Savings Bank accounts. * Current Accounts:  These accounts are opened for liquidity and safety of funds and for meeting day to day expenses. Current accounts are opened and maintained primarily by business and commercial organizations. No income is earned on these deposits. Individuals usually open these accounts for availing overdraft facility as overdraft facility is not available in Savings Bank accounts. View salient features of  Current Accounts. * Recurring Deposit Accounts:  These accounts are opened for saving purpose only.Some fixed amount is deposited at monthly int ervals for a pre-fixed term. These accounts generally earn higher interest than Savings Bank Accounts. View salient features of  Recurring Deposit accounts  in banks. * Fixed Deposit or Term Deposit Accounts:  These accounts are opened for investing funds for fixed terms to earn higher interests. Usually deposit for a longer period of time earns higher Interest Rate. The account holders have option of getting periodic payment of interest at monthly/quarterly intervals or re-investing the interest to be paid on maturity with the principal.View salient features of  Term / Fixed Deposit Accounts  in banks. * Special Bank Term Deposit Scheme – Bank Deposit Scheme under section 80C:  This is the only  Tax Saving Scheme  available with banks. The accounts opened under this scheme are eligible for  relief under Section 80C  of the Income Tax, Act. View salient features of  Bank Deposit Scheme for tax saving. Bank Deposit Schemes for Non-Resident IndiansFollowin g deposit accounts are offered by banks to Non Resident Indians: * Non-Resident External (NRE) Accounts:  These Accounts can be opened by Non Resident Indians individually or jointly with other Non Resident Indian(s).The accounts can be opened in Savings Bank, Current Account, Term/Fixed Deposit with monthly/quarterly interest payment or Term/Fixed Deposit with interest reinvestment types. The account holders can grant Power of Attorney to Resident Indians to operate upon their Savings Bank or Current Accounts. The accounts are maintained in Indian Rupees. View salient features of  NRE Accounts * * Foreign Currency Non Resident (FCNR) Accounts:  These Accounts can be opened by Non Resident Indians individually or jointly with other Non Resident Indian(s).The accounts can be opened as Term/Fixed Deposit with the option of monthly/quarterly Interest payment or of re-investing the interest for payment on maturity with the principal. The accounts are maintained in foreign currenci es viz. US Dollars, Euros, Sterling Pounds, Canadian Dollars, Australian Dollars and Japanese Yen. View salient features of  FCNR accounts. * Non-Resident Ordinary (NRO) Accounts:  These accounts can be opened by Non Resident Indians individually or jointly with other Non Resident or Resident Indian(s). These accounts can also be opened by Resident Indians by foreign inward remittance.The accounts are maintained in Indian Rupees. View salient features of  NRO Accounts. Mutual fundsMutual fund is a mechanism for pooling the resources by issuing units to the investors and investing funds in securities in accordance with objectives as disclosed in offer document. Investments in securities are spread across a wide cross-section of industries and sectors and thus the risk is reduced. Diversification reduces the risk because all stocks may not move in the same direction in the same proportion at the same time. Mutual fund  issues units to the investors in accordance with quantum o f money invested by them.Investors of mutual funds are known as  unit holders. The profits or losses are shared by the investors in proportion to their investments. The mutual funds normally come out with a number of schemes with different investment objectives which are launched from time to time. A mutual fund is required to be registered with Securities and Exchange Board of India (SEBI) which regulates securities markets before it can collect funds from the public. Schemes according to Maturity Period:A mutual fund scheme can be classified into open-ended scheme or close-ended scheme depending on its maturity period.Open-ended Fund/ SchemeAn open-ended fund or scheme is one that is available for subscription and repurchase on a continuous basis. These schemes do not have a fixed maturity period. Investors can conveniently buy and sell units at Net Asset Value (NAV) related prices which are declared on a daily basis. The key feature of open-end schemes is liquidity. Close-ended Fund/ SchemeA close-ended fund or scheme has a stipulated maturity period e. g. 5-7 years. The fund is open for subscription only during a specified period at the time of launch of the scheme.Investors can invest in the scheme at the time of the initial public issue and thereafter they can buy or sell the units of the scheme on the stock exchanges where the units are listed. In order to provide an exit route to the investors, some close-ended funds give an option of selling back the units to the mutual fund through periodic repurchase at NAV related prices. SEBI Regulations stipulate that at least one of the two exit routes is provided to the investor i. e. either repurchase facility or through listing on stock exchanges.These mutual funds schemes disclose NAV generally on weekly basis. Schemes according to Investment Objective:A scheme can also be classified as growth scheme, income scheme, or balanced scheme considering its investment objective. Such schemes may be open-ended or close-ended schemes as described earlier. Such schemes may be classified mainly as follows:Growth / Equity Oriented SchemeThe aim of growth funds is to provide capital appreciation over the medium to long- term. Such schemes normally invest a major part of their corpus in equities.Such funds have comparatively high risks. These schemes provide different options to the investors like dividend option, capital appreciation, etc. and the investors may choose an option depending on their preferences. The investors must indicate the option in the application form. The mutual funds also allow the investors to change the options at a later date. Growth schemes are good for investors having a long-term outlook seeking appreciation over a period of time. Income / Debt Oriented SchemeThe aim of income funds is to provide regular and steady income to investors.Such schemes generally invest in fixed income securities such as bonds, corporate debentures, Government securities and money market ins truments. Such funds are less risky compared to equity schemes. These funds are not affected because of fluctuations in equity markets. However, opportunities of capital appreciation are also limited in such funds. The  NAVs  of such funds are affected because of change in interest rates in the country. If the interest rates fall,  NAVs  of such funds are likely to increase in the short run and vice versa.However, long term investors may not bother about these fluctuations. Balanced FundThe aim of balanced funds is to provide both growth and regular income as such schemes invest both in equities and fixed income securities in the proportion indicated in their offer documents. These are appropriate for investors looking for moderate growth. They generally invest 40-60% in equity and debt instruments. These funds are also affected because of fluctuations in share prices in the stock markets. However,  NAVs  of such funds are likely to be less volatile compared to pure equi ty funds.Money Market or Liquid FundThese funds are also income funds and their aim is to provide easy liquidity, preservation of capital and moderate income. These schemes invest exclusively in safer short-term instruments such as treasury bills, certificates of deposit, commercial paper and inter-bank call money, government securities, etc. Returns on these schemes fluctuate much less compared to other funds. These funds are appropriate for corporate and individual investors as a means to park their surplus funds for short periods. Gilt FundThese funds invest exclusively in government securities.Government securities have no default risk. NAVs  of these schemes also fluctuate due to change in interest rates and other economic factors as is the case with income or debt oriented schemes. Index FundsIndex Funds replicate the portfolio of a particular index such as the BSE Sensitive index, S;P NSE 50 index (Nifty), etc These schemes invest in the securities in the same  weightageà ‚  comprising of an index. NAVs  of such schemes would rise or fall in accordance with the rise or fall in the index, though not exactly by the same percentage due to some factors known as â€Å"tracking error† in technical terms.Necessary disclosures in this regard are made in the offer document of the mutual fund scheme. There are also exchange traded index funds launched by the mutual funds which are traded on the stock exchanges. Postal savings| Postal Services in India India possesses the largest postal network in the world with 154,866  post offices, of which 139,040 (89. 78%) are in rural areas and 15,826 (10. 22%) are in urban areas. It has 25,464 departmental PO s and 129,402 ED BPOs. spread all over the country . Post offices in India play a vital role in the rural areas.They connect these rural areas with the rest of the country and also provide banking facilities in the absence of banks in the rural areas. Post Offices offer various types of schemes. These are : * Monthly Income Scheme * National Savings Certificate * Public Provident Fund * Time Deposit Scheme * Senior Citizen’s Saving Scheme * Saving Account Monthly Income Scheme (MIS) This scheme appeals to conservative investors with traditional values, and for good reason. This scheme offers monthly income and is a safe, guaranteed-by-the-government option. For retirees, widows and others looking or a steady income, it can be ideal. Read on to learn more. The Post Office Monthly Income Scheme, or PO MIS, is offered by Indian Post Offices. A lump sum amount is deposited with the post office and monthly interest earned each month is paid out to you. As the scheme is offered by post offices, it is backed by the government. Thus, the PO MIS is one of the safest investments available. Salient Features: * Interest rate of 8. 5% per annum payable monthly w. e. f. 01. 04. 2012 * Maturity period is 5 years. * No Bonus on Maturity w. e. f. 01. 12. 2011. * No tax deduction at source (TDS ). * No tax rebate is applicable. Minimum investment amount is Rs. 1500/- or in multiple thereafter. * Maximum amount is Rs. 4. 50 lakhs in a single account and Rs. 9 lakhs in a joint account. * Auto credit facility of monthly interest to saving account if accounts are at the same post office. * Account can be opened by an individual, two/three adults jointly, and a minor through a guardian. * Non-Resident Indian / HUF cannot open an Account. * Minors have a separate limit of investment of Rs. 3 lakhs and the same is not clubbed with the limit of guardian. * Facility of premature closure of account after 1 year but on or before 3 years @ 2. 0% discount. * Deduction of 1% if account is closed prematurely at any time after three years. * Suitable scheme for retired employees/ senior citizens and for those who need regular monthly income. National Saving Certificate (NSC) National Savings Certificates (NSC) are certificates issued by Department of post, Government of India and are avai lable at all post office counters in the country. This scheme is specially designed for Government employees, Businessmen and other salaried classes who are IT assesses. It is a long term safe savings option for the investor.Trust and HUF cannot invest. The scheme combines growth in money with reductions in tax liability as per the provisions of the Income Tax Act, 1961. The duration of a NSC scheme is 5 years. Salient Features: * NSC VIII Issue (5 years) – Interest rate of 8. 6% per annum w. e. f. 01. 04. 2012 * NSC IX Issue (10 years) – Interest rate of 8. 9% per annum w. e. f. 01. 04. 2012 * Minimum investment Rs. 100/-. No maximum limit for investment. * No tax deduction at source. * Investment up to Rs 1,00,000/- per annum qualifies for Income Tax Rebate under NSC – section 80C of IT Act. Certificates can be kept as collateral security to get loan from banks. * Trust and HUF cannot invest. * A single holder type certificate can be purchased by an adult for himself or on behalf of a minor or to a minor. * The interest accruing annually but deemed to be reinvested will also qualify for deduction under NSC – section 80C of IT Act. Public Provident Fund (PPF) Public Provident Fund, popularly known as PPF, is a savings cum tax saving instrument. It also serves as a retirement planning tool for many of those who do not have any structured pension plan covering them.The balances in PPF account cannot be attached by any authority normally. Salient Features: * Interest rate of 8. 8% per annum w. e. f. 01. 04. 2012. * Minimum deposit is 500/- per annum. Maximum deposit is Rs. 1,00,000/- per annum * The scheme is for 15 years. * Investment up to Rs 1,00,000/- per annum qualifies for Income Tax Rebate under section 80C of IT Act. * Interest is completely tax-free. * Deposits can be made in lumpsum or in 12 installments. * One deposit with a minimum amount of Rs 500/- is mandatory in each financial year. * Withdrawal is permissible from 6th financial year. Loan facility available from 3rd financial year upto 5th financial year. The rate of interest charged on loan taken by the subscriber of a PPF account on or after 01. 12. 2011 shall be 2% p. a. However, the rate of interest of 1% p. a. shall continue to be charged on the loans already taken or taken up to 30. 11. 2011. * Free from court attachment. * Non-Resident Indians (NRIs) not eligible. * An individual cannot invest on behalf of HUF (Hindu Undivided Family) or Association of persons. * Ideal investment option for both salaried as well as self employed classes.Time Deposit Scheme A Post-Office Time  Deposit  Account  (RDA) is a  Ã‚  banking  service  similar to a Bank Fixed Deposit   offered by Department of post, Government of India at all post office counters in the country. The scheme is meant for those investors who want to deposit a lump sum of money for a fixed period; say for a minimum period of one year to two years, three years and a maxim um period of five years. Investor gets a lump sum (principal + interest) at the maturity of the deposit. Time Deposits scheme return a lower, but safer, growth in investment. Salient Features: 1 year, 2 year, 3 year and 5 year time deposits can be opened. * Interest payable annually but compounded quarterly: PERIOD| RATE OF INTEREST| One Year| 8. 2%| Two Years| 8. 3%| Three Years| 8. 4%| Five Years| 8. 5%| * Minimum amount of deposit is Rs 200/- and in multiples of Rs 200/- thereafter. No maximum limit. * Investment up to Rs 1,00,000/- per annum qualifies for Income Tax Rebate under section 80C of IT Act. * Interest income is taxable. * Facility of redeposit on maturity of an account. * In case of premature closure of 1 year, 2 Year, 3 Year or 5 Year account on or after 01. 12. 011 between 6 months to one year from the date of deposit, simple interest at the rate applicable to from time to time to post office savings account shall be payable. * 2 year, 3 year or 5 year accounts on o r after 01. 12. 2011 if closed after one year, interest on such deposits shall be calculated at a discount of 1% on the rate specified for respective period as mentioned in the concerned table given under Rule 7 of  Post office Time Deposit Rules. * Account can be pledged as security against a loan to banks/ Government institutions. * Any individual (a single adult or two adults jointly) can open an account. Group Accounts, Institutional Accounts and Misc. account not permissible. * Trust, Regimental Fund or Welfare Fund not permissible to invest. Senior Citizen’s Saving Scheme A new savings scheme called ‘Senior Citizens Savings Scheme’ has been notified with effect from August 2, 2004. The Scheme is for the benefit of senior citizens and maturity period of the deposit will be five years, extendable by another three years. Initially the scheme will be available through designated post offices through out the country. Salient Features: * Interest @ 9. 3% per an num from the date of deposit on quarterly basis w. e. f. 1. 04. 2012 * Minimum deposit is Rs 1000 and multiples thereof. Maximum limit of 15 lakhs. * Maturity period is 5 years and can be extended for a further period of 3 years. * Age should be 60 years or more, and 55 years or more but less than 60 years who has retired under a Voluntary Retirement Scheme or a Special Voluntary Retirement Scheme on the date of opening of the account within three months from the date of retirement. * No age limit for the retired personnel of Defence services provided they fulfill other specified conditions. * The account may be opened in individual capacity or jointly with spouse. TDS is deducted at source on interest if the interest amount is more than Rs 10,000/- per annum. * Investment up to Rs 1,00,000/- per annum qualifies for Income Tax Rebate under section 80C of IT Act. * Interest can be automatically credited to savings account provided both the accounts stand in the same post office. * Pr emature closure is allowed after one year on deduction of 1. 5% of the deposit and after 2 years on deduction of 1%. * No withdrawal permitted before the expiry of a period of 5 years from the date of opening of the account. * Non-resident Indians (NRIs) and Hindu Undivided Family (HUF) are not eligible to open an account.Saving Account Post office saving account is similar to a savings account in a bank. It is a safe instrument to park those funds, which you might need to liquidate fully or partially at very short notice. Post office savings accounts are especially suited for those living in rural and semi-rural areas where the reach of banks is very limited. Salient Features: * Rate of interest 4. 0% per annum * Minimum amount Rs 50/- in case of non-cheque account, Rs. 500/- in case of cheque account. * Maximum balance permissible is Rs 1,00,000/- in a single account and Rs 2,00,000/- in a joint account. Interest Tax Free. * Any individual can open an account. * Cheque facility av ailable. * Group Account, Institutional Account, other Accounts like Security Deposit account ; Official Capacity account are not permissible. Equity Indian Equity Market The Indian Equity Market is also the other name for Indian share market or Indian stock market. The forces of the market depend on monsoons, global fundings flowing into equities in the market and the performance of various companies. The Indian market of equities is transacted on the basis of two major stock indices, National Stock Exchange of India Ltd. NSE) and The Bombay Stock Exchange (BSE), the trading being carried on in a dematerialized form. The physical stocks are in liquid form and cannot be sold by the investors in any market. Two types of funds are there in the Indian Equity Market; Venture Capital Funds and Private Equity Funds. The equity indexes are correlated beyond the boundaries of different countries with their exposure to common calamities like monsoon which would affect both India and Banglade sh or trade integration policies and close connection with the foreign investors.From 1995 onwards, both in terms of trade integration and FIIs India has made an advance. All these have established a close relationship between the stock market indexes of India stock market and those of other countries. The Stock derivatives add up all futures and options on all individual stocks. This stock index derivative was found to have gone up from 12 % of NSE derivatives turnover in 2002 to 35 % in 2004. The Indian Equity Market also comprise of the Debt Market, dominated by primary dealers, banks and wholesale investors.Indian Equity Market at present is a lucrative field for the investors and investing in Indian stocks are profitable for not only the long and medium-term investors, but also the position traders, short-term swing traders and also very short term intra-day traders. In terms of market capitalization, there are over 2500 companies in the BSE chart list with the Reliance Industr ies Limited at the top. The SENSEX today has rose from 1000 levels to 8000 levels providing a profitable business to all those who had been investing in the Indian Equity Market.There are about 22 stock exchanges in India which regulates the market trends of different stocks. Generally the bigger companies are listed with the NSE and the BSE, but there is the OTCEI or the Over the Counter Exchange of India, which lists the medium and small sized companies. There is the SEBI or the Securities and Exchange Board of India which supervises the functioning of the stock markets in India. In the Indian market scenario, the large FMCG companies reached the top line with a double-digit growth, with their shares being attractive for investing in the Indian stock market.Such companies like the Tata Tea, Britannia, to name a few, have been providing a bustling business for the Indian share market. Other leading houses offering equally beneficial stocks for investing in Indian Equity Market, of the SENSEX chart are the two-wheeler and three-wheeler maker Bajaj Auto and second largest software exporter Infosys Technologies. Other than some restricted industries, foreign investment in general enjoys a majority share in the Indian Equity Market. Foreign Institutional Investors (FII) need to register themselves with the SEBI and the RBI for operating in Indian stock exchanges.In fact from the Indian stock market analysis it is known that in some specific industries foreigners can have even 100% shares. In the last few years with the facility of the Online Stock Market Trading in India, it has been very convenient for the FIIs to trade in the Indian stock market. From an analysis on the Indian Equity Market it can be said that the increase in the foreign investments over the years no doubt have accentuated the dynamism of the Indian market of equities. Foreign investors are allowed to buy Indian equity for the purpose of converting the equity into ADR or GDR.Thus, the growing f inancial capital markets of India being encouraged by domestic and foreign investments is becoming a profitable business more with each day. If all the economic parameters are unchanged Indian Equity Market will be conducive for the growth of private equities and this will lead to an overall improvement in the Indian economy. Insurance Insurance  is a form of  risk management  primarily used to  hedge  against the  risk  of a contingent,  uncertain  loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment.An insurer, or insurance carrier, is a company selling the insurance; the insured, or policyholder, is the person or entity buying the insurance policy. The amount to be charged for a certain amount of insurance coverage is called the premium. Risk management, the practice of  appraising  and controlling risk, has evolved as a discrete field of study and practice. The transaction involves t he insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate (indemnify) the insured in the case of a financial (personal) loss.The insured receives a  contract, called the  insurance policy, which details the conditions and circumstances under which the insured will be financially compensated. The business of Insurance essentially means defraying risks attached to any activity over time (including life) and sharing the risks between various entities, both persons and organizations. Insurance companies (ICs) are important players in financial markets as they collect and invest large amounts of premium. Insurance products are multipurpose and offer the following benefits: Protection to the investors * Accumulate savings * Channelize savings into sectors needing huge long term investments. Insurance involves  pooling  funds from  many  insured entities (known as exposures) to pay for the losses that some may incur. The insured entities are therefore protected from risk for a fee, with the fee being dependent upon the frequency and severity of the event occurring. In order to be insurable, the risk insured against must meet certain characteristics in order to be an  insurable risk.Insurance is a commercial enterprise and a major part of the financial services industry, but individual entities can also  self-insure  through saving money for possible future losses. Insurability Risk which can be insured by private companies typically share seven common characteristics: 1. Large number of similar exposure units: Since insurance operates through pooling resources, the majority of insurance policies are provided for individual members of large classes, allowing insurers to benefit from the  law of large numbers  in which predicted losses are similar to the actual losses.Exceptions include  Lloyd's of London, which is famous for insuring the life or hea lth of actors, sports figures and other famous individuals. However, all exposures will have particular differences, which may lead to different premium rates. 2. Definite loss: The loss takes place at a known time, in a known place, and from a known cause. The classic example is death of an insured person on a life insurance policy. Fire,  automobile accidents, and worker injuries may all easily meet this criterion. Other types of losses may only be definite in theory.Occupational disease, for instance, may involve prolonged exposure to injurious conditions where no specific time, place or cause is identifiable. Ideally, the time, place and cause of a loss should be clear enough that a reasonable person, with sufficient information, could objectively verify all three elements. 3. Accidental loss: The event that constitutes the trigger of a claim should be fortuitous, or at least outside the control of the beneficiary of the insurance. The loss should be pure, in the sense that it results from an event for which there is only the opportunity for cost.Events that contain speculative elements, such as ordinary business risks or even purchasing a lottery ticket, are generally not considered insurable. 4. Large loss: The size of the loss must be meaningful from the perspective of the insured. Insurance premiums need to cover both the expected cost of losses, plus the cost of issuing and administering the policy, adjusting losses, and supplying the capital needed to reasonably assure that the insurer will be able to pay claims. For small losses these latter costs may be several times the size of the expected cost of losses.There is hardly any point in paying such costs unless the protection offered has real value to a buyer. 5. Affordable premium: If the likelihood of an insured event is so high, or the cost of the event so large, that the resulting premium is large relative to the amount of protection offered, it is not likely that the insurance will be purchase d, even if on offer. Further, as the accounting profession formally recognizes in financial accounting standards, the premium cannot be so large that there is not a reasonable chance of a significant loss to the insurer.If there is no such chance of loss, the transaction may have the form of insurance, but not the substance. 6. Calculable loss: There are two elements that must be at least estimable, if not formally calculable: the probability of loss, and the attendant cost. Probability of loss is generally an empirical exercise, while cost has more to do with the ability of a reasonable person in possession of a copy of the insurance policy and a proof of loss associated with a claim presented under that policy to make a reasonably definite and objective evaluation of the amount of the loss recoverable as a result of the claim. . Limited risk of catastrophically large losses: Insurable losses are ideally  independent  and non-catastrophic, meaning that the losses do not happen all at once and individual losses are not severe enough to bankrupt the insurer; insurers may prefer to limit their exposure to a loss from a single event to some small portion of their capital base. Capital  constrains insurers' ability to sell  earthquake insurance  as well as wind insurance in  hurricane  zones. In the US,  flood risk  is insured by the federal government.In commercial fire insurance it is possible to find single properties whose total exposed value is well in excess of any individual insurer's capital constraint. Such properties are generally shared among several insurers, or are insured by a single insurer who syndicates the risk into the  reinsurance  market. Legal When a company insures an individual entity, there are basic legal requirements. Several commonly cited legal principles of insurance include: 1. Indemnity  Ã¢â‚¬â€œ the insurance company indemnifies, or compensates, the insured in the case of certain losses only up to the insure d's interest. . Insurable interest  Ã¢â‚¬â€œ the insured typically must directly suffer from the loss. Insurable interest must exist whether property insurance or insurance on a person is involved. The concept requires that the insured have a â€Å"stake† in the loss or damage to the life or property insured. What that â€Å"stake† is will be determined by the kind of insurance involved and the nature of the property ownership or relationship between the persons. 3. Utmost good faith  Ã¢â‚¬â€œ the insured and the insurer are bound by a  good faith  bond of honesty and fairness. Material facts must be disclosed. 4.Contribution – insurers which have similar obligations to the insured contribute in the indemnification, according to some method. 5. Subrogation – the insurance company acquires legal rights to pursue recoveries on behalf of the insured; for example, the insurer may sue those liable for insured's loss. 6. Causa proxima, or proximate caus e – the cause of loss (the peril) must be covered under the insuring agreement of the policy, and the dominant cause must not be  excluded 7. Mitigation – In case of any loss or casualty, the asset owner must attempt to keep the loss to a minimum, as if the asset was not insured.Indemnification To â€Å"indemnify† means to make whole again, or to be reinstated to the position that one was in, to the extent possible, prior to the happening of a specified event or peril. Accordingly,  life insuranceis generally not considered to be indemnity insurance, but rather â€Å"contingent† insurance (i. e. , a claim arises on the occurrence of a specified event). There are generally two types of insurance contracts that seek to indemnify an insured: 1. an â€Å"indemnity† policy, and 2. a â€Å"pay on behalf† or â€Å"on behalf of†Ã‚  policy. The difference is significant on paper, but rarely material in practice.An â€Å"indemnity† p olicy will never pay claims until the insured has paid out of pocket to some third party; for example, a visitor to your home slips on a floor that you left wet and sues you for $10,000 and wins. Under an â€Å"indemnity† policy the homeowner would have to come up with the $10,000 to pay for the visitor's fall and then would be â€Å"indemnified† by the insurance carrier for the out of pocket costs (the $10,000). [4][5] Under the same situation, a â€Å"pay on behalf† policy, the insurance carrier would pay the claim and the insured (the homeowner in the above example) would not be out of pocket for anything.Most modern liability insurance is written on the basis of â€Å"pay on behalf† language. An entity seeking to transfer risk (an individual, corporation, or association of any type, etc. ) becomes the ‘insured' party once risk is assumed by an ‘insurer', the insuring party, by means of a contract, called an  insurance policy. Generally, an insurance contract includes, at a minimum, the following elements: identification of participating parties (the insurer, the insured, the beneficiaries), the premium, the period of coverage, the particular loss event covered, the amount of coverage (i. . , the amount to be paid to the insured or beneficiary in the event of a loss), and exclusions  (events not covered). An insured is thus said to be â€Å"indemnified† against the loss covered in the policy. When insured parties experience a loss for a specified peril, the coverage entitles the policyholder to make a claim against the insurer for the covered amount of loss as specified by the policy. The fee paid by the insured to the insurer for assuming the risk is called the premium.Insurance premiums from many insureds are used to fund accounts reserved for later payment of claims — in theory for a relatively few claimants — and for  overhead  costs. So long as an insurer maintains adequate funds set aside for anticipated losses (called reserves), the remaining margin is an insurer's  profit. Types of Insurances * Life Insurance * General Insurance Life Insurance Life insurance  is a contract between an  insurance policy holder  and an  insurer, where the insurer promises to pay a designated  beneficiary sum of money (the â€Å"benefits†) upon the death of the insured person.Depending on the contract, other events such as  terminal illness  or critical illness  may also trigger payment. The policy holder typically pays a premium, either regularly or as a lump sum. Other expenses (such as funeral expenses) are also sometimes included in the benefits. The advantage for the policy owner is â€Å"peace of mind†, in knowing that the death of the insured person will not result in financial hardship for loved ones and lenders. Life policies are legal contracts and the terms of the contract describe the limitations of the insured events.Specific exclusion s are often written into the contract to limit the liability of the insurer; common examples are claims relating to suicide, fraud, war, riot and civil commotion. Life-based contracts tend to fall into two major categories: * Protection  policies – designed to provide a benefit in the event of specified event, typically a lump sum payment. A common form of this design is term insurance. * Investment  policies – where the main objective is to facilitate the growth of capital by regular or single premiums.Common forms (in the US) are  whole life,  universal life  and  variable life policies. General Insurance General insurance  or non-life insurance policies, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance typically comprises any insurance that is not determined to be  life insurance. It is called  property  and casualty  insurance  in the  U. S. and  Non -Life Insurance  in Continental Europe. Commercial lines  products are usually designed for relatively small legal entities.These would include workers' comp (employers liability), public liability, product liability, commercial fleet and other general insurance products sold in a relatively standard fashion to many organisations. There are many companies that supply comprehensive commercial insurance packages for a wide range of different industries, including shops, restaurants and hotels. Personal lines  products are designed to be sold in large quantities. This would include  autos  (private car),  homeowners  (household), pet insurance, creditor insurance and others. ACORD  which is the insurance industry global standards organisation.ACORD has standards for personal and commercial lines and has been working with the Australian General Insurers to develop those XML standards, standard applications for insurance, and certificates of currency. PORTFOLIO MANAGEMENT A good way to begin understanding what portfolio management is (and is not) may be to define the term  portfolio. In a business context, we can look to the mutual fund industry to explain the term's origins. Morgan Stanley's  Dictionary of Financial Terms  offers the following explanation: If you own more than one security, you have an investment portfolio.You build the portfolio by buying additional stocks, bonds, mutual funds, or other investments. Your goal is to increase the portfolio's value by selecting investments that you believe will go up in price. According to modern portfolio theory, you can reduce your investment risk by creating a diversified portfolio that includes enough different types, or classes, of securities so that at least some of them may produce strong returns in any economic climate. Note that this explanation contains a number of important ideas: * A portfolio contains many investment vehicles. Owning a portfolio involves making choices — tha t is, deciding what additional stocks, bonds, or other financial instruments to buy; when to buy; what and when to sell; and so forth. Making such decisions is a form of management. * The management of a portfolio is goal-driven. For an investment portfolio, the specific goal is to increase the value. * Managing a portfolio involves inherent risks. Objectives of Portfolio Management:- The objective of  portfolio management  is to invest in securities is securities in such a way that one maximizes one’s returns and minimizes risks in order to achieve one’s investment objective.A good  portfolio  should have multiple objectives and achieve a sound balance among them. Any one objective should not be given undue importance at the cost of others. Presented below are some important objectives of portfolio management. 1. Stable Current Return: – Once investment safety is guaranteed, the portfolio should yield a steady current income. The current returns should at least match the opportunity cost of the funds of the investor. What we are referring to here current income by way of interest of dividends, not capital gains. 2. Marketability: –A good portfolio consists of investment, which can be marketed without difficulty. If there are too many unlisted or inactive shares in your portfolio, you will face problems in encasing them, and switching from one investment to another. It is desirable to invest in companies listed on major stock exchanges, which are actively traded. 3. Tax Planning: – Since taxation is an important variable in total planning, a good portfolio should enable its owner to enjoy a favorable tax shelter. The portfolio should be developed considering not only income tax, but capital gains tax, and gift tax, as well.What a good portfolio aims at is tax planning, not tax evasion or tax avoidance. 4. Appreciation in the value of capital: A good portfolio should appreciate in value in order to protect the investor from any erosion in purchasing power due to inflation. In other words, a balanced portfolio must consist of certain investments, which tend to appreciate in real value after adjusting for inflation. 5. Liquidity: The portfolio should ensure that there are enough funds available at short notice to take care of the investor’s liquidity requirements.It is desirable to keep a line of credit from a bank for use in case it becomes necessary to participate in right issues, or for any other personal needs. 6. Safety of the investment: The first important objective of a portfolio, no matter who owns it, is to ensure that the investment is absolutely safe. Other considerations like income, growth, etc. , only come into the picture after the safety of your investment is ensured. Investment safety or minimization of risks is one of the important objectives of portfolio management.There are many types of risks, which are associated with investment in equity stocks, including super stocks . Bear in mind that there is no such thing as a zero risk investment. More over, relatively low risk i