The Sharpe Ratio and the Information Ratio Essay Example

The Sharpe Ratio and the Information Ratio Essay The article, â€Å"The Sharpe Ratio and the Information Ratio†, by Deborah Kidd is about the original risk-adjusted performance measure and they are Sharpe ratio and the Information Ratio. William Sharpe designed the first performance metric to insolate excess return per unit of total risk taken. The Sharpe ratio shows whether a portfolios returns  are due to smart investment decisions or a result of excess risk. The Sharpe ratio measure dividends average portfolio excess return over the sample period by the standard deviation of returns over that period. It measures the reward to volatility trade-off. The Information Ratio is a ratio of portfolio returns  above the  returns  of a benchmark to the volatility of those returns. The information ratio divides the alpha of the portfolio by the nonsystematic risk of the portfolio. It measures abnormal return per unit of risk that in principle could be diversified away by holding a market index portfolio. There are two key points that the author was communicating to its’ readers. The first key point relates to the advantages and disadvantages of the Shape ratio. The second key point relates to the advantages and disadvantages of the Information Ratio. The first key point is the advantages and disadvantages of the Sharpe ratio. A disadvantage of the Sharpe is that it is expressed as a raw number and the higher the Sharpe ratio is the better. Another disadvantage is that the Sharpe ratio only uses standard deviation when calculating the risk. So it would be awkward when calculating the Ratio for asymmetric returns. Another disadvantages of Sharpe’s ratio is that Sharpe ratio should not be used as a measure to compare portfolios because when there is a negative Sharpe ratio the risk increases. We will write a custom essay sample on The Sharpe Ratio and the Information Ratio specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Sharpe Ratio and the Information Ratio specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Sharpe Ratio and the Information Ratio specifically for you FOR ONLY $16.38 $13.9/page Hire Writer An advantage of the Sharpe ratio is that it can be easily calculated without needing any additional data regarding the asset’s profitability. Another advantage is that people can tell the returns without any extra information about the source of profitability. Kidd stated, â€Å"The Sharpe ratio is the industry standard for measuring risk adjusted returns†, (Kidd, p. 3, 2011). This means that the Sharpe ratio is used to evaluate the performance of a portfolio. The second key point is the advantages and disadvantages of the Information ratio. An advantage of an Information ratio is that it measures the extra return people can obtain from security analysis compared to the firm specific risk. Another advantage is that information ratio’s are best used for measuring active managers against a passive benchmark. A disadvantage of the Information ratio is that it does not necessarily provide consistent assessments of performances. Another disadvantage is that information ratios can evaluate portfolios with normal expected return, but do not apply to such asymmetric return strategies. Kidd says, â€Å"The information ratios is often referred to as a variation or generalized version of the Sharpe ratio† (Kidd, p. 2, 2011), which means they are similar, but the Information ratios branches off. That is because information ratio has been doing better than stocks on a risk-adjusted basis on higher return. When used correctly, the Sharpe ratio and the information ratio can be valuable tools. These ratios are most useful for evaluating portfolios with normal expected return distributions, (Kidd, 2011). However, these ratios could potentially be misleading if used naively. Both the Sharpe ratio and the Information ratio, does not take into account dynamic correlations between asset classes. As it relates to investors, it is important for them to be mindful that long periods may increase a portfolio’s Sharpe ratio due to lower volatility for long periods. As far as the information ratios, they are based on longer periods, which results for them being more valuable because they are persistent in manager skill. References Kidd, D. (2011). The sharpe ratio and the information ratio. Investment Performance Measurement, 1-3.

Stream Order - The Classification of Streams and Rivers

Stream Order - The Classification of Streams and Rivers One of the most important aspects of physical geography is the study of the worlds natural environment and resources - one of which is water. Because this area is so important, geographers, geologists, and hydrologists alike use stream order to study and measure the size of the worlds waterways. A stream is classified as a body of water that flows across the Earths surface via a current and is contained within a narrow channel and banks. Based on stream order and local languages, the smallest of these waterways are also sometimes called brooks and/or creeks. Large waterways (at the highest level the stream order) are called rivers and exist as a combination of many tributary streams. Streams can also have local names such as bayou or burn. The Stream Order Geological Society of America Bulletin When using stream order to classify a stream, the sizes range from a first-order stream all the way to the largest, a 12th order stream. A first-order stream is the smallest of the worlds streams and consists of small tributaries. These are the streams that flow into and feed larger streams but do not normally have any water flowing into them. In addition, first and second order streams generally form on steep slopes and flow quickly until they slow down and meet the next order waterway. First through third order streams are also called headwater streams and constitute any waterways in the upper reaches of the watershed. It is estimated that over 80% of the world’s waterways are these first through third order or headwater streams. Going up in size and strength, streams that are classified as fourth through sixth order are medium streams while anything larger (up to 12th order) is considered a river. For example, to compare the relative size of these different streams, the Ohio River in the United States is an eighth order stream while the Mississippi River is a tenth order stream. The world’s largest river, the Amazon in South America, is considered a 12th order stream. Unlike the smaller order streams, these medium and large rivers are usually less steep and flow slower. They do however tend to have larger volumes of runoff and debris as it collects in them from the smaller waterways flowing into them. Going Up in Order If however, two streams of different order join neither increases in order. For example, if a second order stream joins a third order stream, the second order stream simply ends by flowing its contents into the third order stream, which then maintains its place in the hierarchy. The Importance of Stream Order Stream order also helps people like biogeographers and biologists in determining what types of life might be present in the waterway. This is the idea behind the River Continuum Concept, a model used to determine the number and types of organisms present in a stream of a given size. More different types of plants, for example, can live in sediment-filled, slower flowing rivers like the lower Mississippi than can live in a fast-flowing tributary of the same river. More recently, stream order has also been used in geographic information systems (GIS) in an effort to map river networks. The algorithm, developed in 2004, uses vectors (lines) to represent the various streams and connects them using nodes (the place on the map where the two vectors meet). By using the different options available in ArcGIS, users can then change the line width or color to show the different stream orders. The result is a topologically correct depiction of the stream network that has a wide variety of applications. Whether it is used by a GIS, a biogeographer, or a hydrologist, stream order is an effective way to classify the world’s waterways and is a crucial step in understanding and managing the many differences between streams of different sizes.

Using Que as a Conjunction in Spanish

Using Que as a Conjunction in Spanish Using the Spanish  Although que is most often used as a relative pronoun in Spanish it is also frequently used as a subordinating conjunction. The distinction may not seem obvious to English speakers, because que in both cases is usually translated as that. However, the distinction is important in some situations, such as those listed below when translating that after a noun. Forming Sentences With Que as a Conjunction Que is used as a conjunction in the following sentence construction: Main or independent clause que dependent clause. The main clause includes a subject and verb, although the subject may be understood rather than explicitly stated. The dependent clause also has a subject and verb (although the subject again may be implied) and could stand alone as a sentence, but it depends on the main clause to indicate its significance. The usage is similar in English: Main clause that as a conjunction dependent clause. The main difference is that in English it is common to omit that, while que is nearly always mandatory. A simple example should make this clearer. In the sentence Olivia sabe que Francisco est enfermo (Olivia knows that Francisco is sick), Olivia sabe (Olivia knows) is the main clause, que is a conjunction, and Francisco est enfermo (Francisco is sick) is the dependent clause. Note that Olivia sabe and Francisco est enfermo each has a subject and verb. Note that when que functions as a conjunction, it never is accented to form quà ©, which is a pronoun. Examples of Que as a Conjunction Here are some other examples of que as a conjunction: Todos creemos que fue un asesinato. (We all believe (that) it was a murder.)Esperamos que este fin de semana sea ms productivo. (We are hoping (that) this weekend will be more productive.)Quiero que me quieras. (I want you to love me. Literally, I want that you love me.)No creà ­ que fuera fisicamente posible. (I didnt believe (that) it was physically possible.Predigo que la banca mà ³vil expandir en el futuro. (I predict (that) mobile banking will expand in the future.) When De Que Should be Used If the main clause ends in a noun, de que is used as a conjunction instead of que: Tengo el miedo de que sea un virus. (I am afraid (that) it is a virus.) ¿Tienes celos de que Andrew pase tiempo con Lauren? (Are you jealous (that) Andrew is spending time with Lauren?)Hizo el anuncio de que el primer sencillo de su segundo lbum se llamarà ­a  «Move ». (He made the announcement (that) the first single from his second album would be called Move.) Note, however, that when que is used as a relative pronoun after a noun, de que cannot be used. An example: Hizo an anuncio que nos sorprendià ³. He made an announcement that surprised us. One way whether you can tell that que in the above example is a relative pronoun is that you could translate it as which and still make sense (i.e., he made an announcement which surprised us). But in the examples above where de que is used, that and not which must be used in translation. When a verb or a phrase is commonly followed by de and an infinitive or noun, often de que followed by a clause can be used instead: Estoy cansado de que me mientan. (I am tired of them lying to me. Literally, I am tired that they lie to me.)Estamos felices de que haya boda. (We are happy (that) there was a wedding.)No me olvidà ³ de que la literatura puede servir de entretenimiento. (I didnt forget (that) literature can serve as entertainment.) Using the Subjunctive Mood with Que It is very common for the verb in the clause following que or de que to be in the subjunctive mood. This typically occurs with the clause before que is used to express doubt, hope, negation, or an emotional reaction. Dudamos que su coche pueda funcionar. (We doubt (that) her car can run.)Tus amigos y yo esperamos que vengas pronto. (Your friends and I hope (that) youre coming soon.)No existe la posibilidad de que las plataformas de Xbox y PlayStation se unan. (The possibility doesnt exist (that) the Xbox and PlayStation platforms will merge together.)Me sorprendià ³ que la pizza se sirve con pià ±a. (It surprised me (that) the pizza is served with pineapple.) Key Takeaways Que functions as a conjunction when it comes between two clauses.When the first clause ends in a noun, the conjunction becomes de que.Que or de que as a conjunction is usually translated as that, which is often optional in English.

Ompensation laws Essay Example | Topics and Well Written Essays - 1000 words

Ompensation laws - Essay Example This paper presents analysis of a case study in light of the compensation laws. The characters are Orlando (lender) and Kate (borrower). I am supposed to advise Orlando apropos his wish to sue Kate for the remaining amount of debt that he had formerly waived. Before writing my advice to Orlando, it is customary to briefly review the various contract laws and conditions that apply on the case under consideration. Promissory estoppel: Promissory estoppel is employed as one of the legal principles in US law. It may also exist in many other legal systems with a different title. â€Å"Promissory estoppel allows a party to recover on a promise even though that promise was made without consideration† (Oppenheimer, 2011). It necessarily keeps an individual from asserting that a promise he/she made in the past is not to be upheld. When a party who holds a contract with another party, makes a promise to it that essentially waives any or all traits of the contract between the two, upon c ertain conditions that the other party complies with, the promisor no more remains in a position to enforce the contract at a later point in time. This is the fundamental principle of promissory estoppel. The law gives all the importance to a contract in the analysis of cases. Previously, a promise that rendered the contract unenforceable in any way was not given any consideration as per the common law theory. However, promises were frequently made in practice that caused considerable abuse that was not adequately addressed by the common law. Equity later brought up a new disparity of estoppel. Because of that, although the promise was not given due consideration, the promisor is deprived of the right to enforce the earlier contract against which, he/she had made a promise to the other party. Contract offer and acceptance: In contract law, a traditional approach that can be used to check whether or not an agreement sustains between two or more parties, is the offer and acceptance an alysis. An offer is a suggestion made by one entity to another whereby the first expresses a will to engage in a contract on clearly defined conditions. The contract does not leave any room for further discussions. The rules are clearly identified and fixed. Once the second entity accedes to the conditions put forth by the first entity and conveys its acceptance to the offerer, a contract is established. A contract forms as a result of momentary unionization of minds of the parties entering it, and serves as a standard for the time to come. Such developments as the estoppel law, unjust enhancement and inappropriate conduct have caused considerable damage to the classical contract development approach. Part payment of debt: Part payment of debt involves partial return of the debt instead of full by the borrower to the lender. When looked at from the perspective this contract law, Orlando may still have some rights to exercise. Although Orlando consented to accept ?625 from Kate in fu ll satisfaction of the original amount i.e. ?1250, this does not bind Orlando by his promise. The law offers Orlando right to demand the remaining amount by suing Kate at a later point in time. â€Å"Part payment of a lesser sum, on the day (that it is due) cannot be any satisfaction for the whole because it appears to the judges that by no possibility a lesser sum can be satisfaction to the claimant for a greater sum†¦Ã¢â‚¬  (SIC, 2010). However, Orlando has lost his right over the rest of the money because the case involves one of the three exceptions to the general rule. The case reveals that Orlando has asked Kate to return half of the money till Wednesday, but Kate paid him the sum on Tuesday instead of Wednesday which essentially means that Orlando had accepted the payment, one day in advance of the payment date he had formerly told Kate. According to the law, if the creditor accepts the payment in advance of the due date, he waives his/her right to sue the borrower lat er (SIC, 2010). Consideration: Consideration is the name of a benefit of any sort

Environmental Systems Essay Example | Topics and Well Written Essays - 750 words

Environmental Systems - Essay Example as the key determinants of economic growth and thus have a direct though complex effect on how the other natural resources such as water, forests, pasture and biodiversity have been made use of from time to time. In spite of the negative general relation that is present between poverty and the environment, the focus for the better part has remained on the current development policy whilst keeping in mind peoples strengths. Even though natural resources and access to the land have remained as a main source of rural income, the two need to be seen in the wider scheme of things. The positive effects of diversification have been seen as being on the higher side as compared to the negative ones. The same have included the reduction of risk as well as vulnerability through spreading assets, in essence a generalized and elaborate use of family and household labor, cash generation for the purpose of investment in human and physical capital and in improvement of the environment due to minimal pressure courtesy the natural resources. Primary Gross and Net Productivity is mapped with the additive approach in an area that is marked with intensively managed agricultural land especially in the Midwest United States. To produce the required land cover map, a Landsat ETMz image dating from 29 July 1999 was acquired from the MODIS Land Team. Therefore, care was taken to locate the positional accuracy of the image and the same was measured by direct comparison with USGS digital orthophoto quadrangles concerned with the study area. Moving further ahead, land cover mapping was performed in such a manner that used unsupervised clustering of the six ETMz reflectance bands. After the same had taken place, clusters were assigned to five different classes which included water, urban and built, barren and sparsely vegetated, corn and last but not the least, soybean. This was performed with reference to the DOQs, air photographs, interpreter knowledge as well as the spectral

International Entertainers Essay Example for Free

International Entertainers Essay The salaries of many singers, dancers and sports people have increased out of all proportion in recent years, while in places like Sudan people are starving to death. I do not beleive that anyone should be able to earn such enormous salaries whan so many people in the world are living in poverty. One af the factors which should affect what a person can earn ought to be the benefit of persons work to society. It is unreasonable for a famous singer to be able to earn far more from an evenings entertainment than, for instance, a medical scientist who develops a new drug which produces a treatment for a common disease. The pop star certainly has a value in society, but the value in no way exceeds, or even matches, the value gained from a successful medication. Secondly. work done should be paid according to the amount of effort and skill that goes into it. Nobody would deny that a famous person works hard and is skillful, yet such people do not work any harder than thousand of other workers who have no claim to fame. Yet market force are such that these superstarts can obtain millions of dolor while other unknown people sometimes earn less than they need to survive. Finally, it should be possible for governments to work together to ensure that the amount of money in circulation should be more more equally and fairly distributed. This seems only fair given that there are so many suffering. To conclude, it is clear that world poverty is a serious problem and yet the problem could be eased if governments and compenies gave more thought to paying salaries on a more equitable basis and if they started to contribute more money to those in need.

David Copperfield Essay -- English Literature

David Copperfield Choose an important passage or event from the first 14 chapters of David Copperfield. Analyse the significance of that moment to the novel as a whole. You should write about themes or ideas that are relevant to earlier or later passages in the novel, The way the novel was written, published and read, Any clues Dickens provides about the future of the novel. When Mr. Murdstone arrived, David was clueless at what this dark mysterious man would bring to his life. This person friendliness was pleasant and kind towards David and his mother to start with, but David’s seemed to sense something peculiar about his attitude which he shows us by using a naà ¯ve narrator. This lets us picture it through David’s childish recollection instead of someone recalling the incidence from the past. Hence the reason he does not understand why he has this feelings towards this man and can not see it through an adults perspective. David was sent away to live Peggoty and her family for a few weeks and he believed it was just for a nice holiday away from home, little did... David Copperfield Essay -- English Literature David Copperfield Choose an important passage or event from the first 14 chapters of David Copperfield. Analyse the significance of that moment to the novel as a whole. You should write about themes or ideas that are relevant to earlier or later passages in the novel, The way the novel was written, published and read, Any clues Dickens provides about the future of the novel. When Mr. Murdstone arrived, David was clueless at what this dark mysterious man would bring to his life. This person friendliness was pleasant and kind towards David and his mother to start with, but David’s seemed to sense something peculiar about his attitude which he shows us by using a naà ¯ve narrator. This lets us picture it through David’s childish recollection instead of someone recalling the incidence from the past. Hence the reason he does not understand why he has this feelings towards this man and can not see it through an adults perspective. David was sent away to live Peggoty and her family for a few weeks and he believed it was just for a nice holiday away from home, little did...

Internet as a Threat to Old Media

Broadcasting internet as a threat to old media Introduction Just a few clicks on the mouse and a whole world of information are available for free. The internet, whilst largely contributing to declining newspaper, magazines and books sales, decreasing the percentage of advertising on TV and radio, increasing of internet piracy and illegal downloading of films and music. Internet can at least provide a huge resource for journalist, authors, musicians, photographers, producers, editors, directors and all information workers.On the other hand, audiences and users of media mainly still believe on old media as they gain their information and follow latest news (which affect public opinion) from old media because they trust it and rely on its credibility when they compare it with internet . they thought that internet is the world of rumors. http://technorati. com/technology/it/article/do-you-see-the-internet-as/#ixzz16VrHKY7B Background Books writing with words was invented by the Sumerian s (southern Iraq) about five thousand years ago (c. 3100 BC). As far as we know it derived from symbols used for the keeping of accounts around four hundred years earlier.At first, writing was restricted to inscriptions, e. g. on stone, seals, brooches, and containers. The Sumerians then developed baked clay tablets, which can be regarded as the first books. These were soon followed by the papyrus rolls of the Egyptians, made from a plant native only to the Nile Valley. The traditional modern form of the book is called the codex. Meanwhile paper was invented in China as early as 105 AD, and was at first prepared from bark and hemp. This paper developed to a high standard, and paper-making later spread to Japan (c. 10 AD), and then to the Arab world along the Silk Road, via Samarkand in Central Asia. The Arabs introduced paper into Europe via Spain. Printing Printing was another Chinese invention. However such cast type did appear in Korea before developing quite independently in Eur ope. A major advance in the West was Johannes Gutenberg's printing from cast metal type (c. 1450 AD). However this was still hand composed on a mostly wooden press. This still relied on human power to operate. A steam-powered press invented by the German Friedrich Koenig followed in 1810.An American, Richard Hoe, invented the faster rotary press in 1846. Printing raced further ahead when the mechanical composition of type was perfected in 1886 with the Linotype compositor. Lithography was long used to print pictures for books. From this method came the idea for offset printing – in 1904 the first offset press appeared. In offset printing the method of â€Å"relief† printing from cast metal type, traditional since Gutenberg, is replaced by a smooth photographic plate. By 1980 offset printing was taking over from the older method in many countries. That was only the beginning of the modern printing revolution.From 1968 computers became involved in printing (the Linotron) . In 1983 the offset plate progressed to a format involving the laser-beam transference of stored digital information. Gradually printing worldwide became a digital and computerized process, and mechanical printing began to disappear. The Digital Revolution This change led to the irony that a series of advanced digital electronic processes now produced the traditional analogue material book. It was only a matter of time before the logical conclusion would be drawn – that books could exist in a purely electronic form.Moreover such books could incorporate new possibilities undreamed of in the printed codex book. For example, they could be instantly updated, be searchable electronically, include sounds ; video and even a dictionary, and interact directly with the new Internet, and therefore contain instant links to further information. The advent of digital book files also meant that traditional physical books could now be printed individually as required from a stored computer file (Print on Demand, or POD), rather than in the traditional large print runs.This meant both that books could be cheaper in general, and that it was financially practicable to print them in limited numbers for a more restricted readership than before. So rather than immediately displacing the printed codex, the advent of the digital book meant that the physical book could now flourish as never before. At the same time this change prepared the ground for a decisive future shift towards electronic reading. Dawn of the e-Book The electronic book (e-book), existing as a virtual entity stored in a digital file, began to emerge in its own right in the last years of the twentieth century.Like many new technologies it suffered from technical teething troubles, ineffective or inappropriate marketing, commercial rivalries that slowed its progress, and initial public scepticism or indifference. Gradually however the electronic book became capable of being read from an increasing variety of devices, and its vast potential began to be more widely understood. It became clear that the e-book would represent the next leap forward in the onward march of the book. While it can simply represent traditional texts it can also become a layered and interactive multimedia experience.Indeed the book of the future could even be spontaneously assembled from multiple sources for specific educational or entertainment purposes, by a single reader or group. The e-book therefore holds the promise of adding an unprecedented degree of flexibility to the concept of the book. The book is one of humanity's most enduring cultural artifacts and treasures. As it evolves, the greatest threat to its future is therefore not from technical advances but from the danger of new generations losing the inclination to read.The ability to read and write is our greatest tool in education, and, apart from the family, the single most important medium existing for the transmission of ideas and the continuance o f an evolving human culture. http://www. e-book. com. au/bookhistory. htm Newspapers â€Å"Were it left to me to decide whether we should have a government without newspapers, or newspapers without a government, I should not hesitate a moment to prefer the latter. † -Thomas Jefferson, 1787. The history of newspapers is an often-dramatic chapter of the human experience going back some five centuries.In Renaissance Europe handwritten newsletters circulated privately among merchants, passing along information about everything from wars and economic conditions to social customs and â€Å"human interest† features. The first printed forerunners of the newspaper appeared in Germany in the late 1400's in the form of news pamphlets or broadsides, often highly sensationalized in content. In the English-speaking world, the earliest predecessors of the newspaper were corantos, small news pamphlets produced only when some event worthy of notice occurred.The first successively publi shed title was The Weekly Newes of 1622. The first true newspaper in English was the London Gazette of 1666. Fo In America the first newspaper appeared in Boston in 1690, entitled Publick Occurrences. Published without authority, it was immediately suppressed, its publisher arrested, and all copies were destroyed. The first successful newspaper was the Boston News-Letter, begun by postmaster John Campbell in 1704. Although it was heavily subsidized by the colonial government the experiment was a near-failure, with very limited circulation.Two more papers made their appearance in the 1720's, in Philadelphia and New York, and the Fourth Estate slowly became established on the new continent. In 1783 there were forty-three newspapers in print. The press played a vital role in the affairs of the new nation, representing all shades of political opinion. The ratification of the Bill of Rights in 1791 at last guaranteed of freedom of the press, and America's newspapers began to take on a ce ntral role in national affairs. Growth continued in every state.In the Jacksonian populist 1830's, advances in printing and papermaking technology led to an explosion of newspaper growth, the emergence of the â€Å"Penny Press†; it was now possible to produce a newspaper that could be sold for just a cent a copy. Previously, newspapers were the province of the wealthy, literate minority. This sudden availability of cheap, interesting reading material was a significant stimulus to the achievement of the nearly universal literacy now taken for granted in America. In the 1850's powerful, giant presses appeared, able to print ten thousand complete papers per hour.At this time the first â€Å"pictorial† weekly newspapers emerged; they featured for the first time extensive illustrations of events in the news, as woodcut engravings made from correspondents' sketches or taken from that new invention, the photograph. Reporters, called â€Å"specials,† became the darlings of the public and the idols of youngsters everywhere. Many accounts of battles turned in by these intrepid adventurers stand today as the definitive histories of their subjects. Newspaper growth continued unabated in the postwar years. By the 1890's the first circulation figures of a million copies per issue were recorded.At this period appeared the features of the modern newspaper, bold â€Å"banner† headlines, extensive use of illustrations, â€Å"funny pages,† plus expanded coverage of organized sporting events. The rise of â€Å"yellow journalism† also marks this era. This is also the age of media consolidation, as many independent newspapers were swallowed up into powerful â€Å"chains†; with regrettable consequences for a once fearless and incorruptible press, many were reduced to vehicles for the distribution of the particular views of their owners, and so remained, without competing papers to challenge their viewpoints.By the 1910's, all the esse ntial features of the recognizably modern newspaper had emerged. Radio and television have gradually supplanted newspapers as the nation's primary information sources, so it may be difficult initially to appreciate the role newspapers. Not complete http://www. historicpages. com/nprhist. htm, Phil Barber, 03/08/2010 Magazines The term â€Å"magazine† is generally acknowledged to have come into usage with the publication in the 1730s of the Gentleman’s Magazine by Edward Cave. Its aim was to entertain with stories of crime and romance.It soon proved popular, not just for sale but for rental in public houses, coffee houses and barber shops. Magazines were more affordable than newspapers because printing technology allowed mass production. Taking their cue from America, British publishers produced all-fiction magazines such as Romantic Confessions and similar ‘penny dreadfuls’. General interest magazines such as Answers, Titbits (Tit Bits from all the Most In teresting Books, Periodicals and Contributors in the World), Home Chat, Comic Cuts and Pearson’s Weekly were also hugely popular. The early 20th century saw new styles of magazine such as Reader’s Digest hich included edited versions (digests) of articles and stories. International editions followed the same formula, later developing subscription as a means of ensuring a place in the competitive magazine market. â€Å"Life† magazine which traded on the quality of its pictures in a period when photography was accepted as an art form and photojournalism was regarded as a means of social commentary. â€Å"Life† used the slogan: ‘To see life, to see the world; to witness great events; to watch the faces of the poor and the gestures of the proud; to see strange things’.It had many imitators (or, perhaps more kindly, admirers) such as Picture Post and Illustrated in Britain and Paris Match and Stern in Europe. The end of the Second World War saw ne w titles emerged to satisfy the needs of increasingly affluent consumers who now had business and technical interests as well as expanding leisure pursuits. Interestingly, the emerging broadcast media – particularly television – were accommodated by the magazine industry that began to produce publications which included listings, reviews and background material.Later spin-offs would include comics based on television characters, and magazines dedicated to specific topics or programmes such as BBC Wildlife and Gardener's World. A web search will reveal the extent to which the big companies have other interests, particularly media interests other than publishing magazines. The Guardian Media Guide contains details of the sites run by all the main players in the publishing business. Ezine is an electronic newsletter or magazine. Ezine could reside on a website, intranet system or be sent throughout any network, including the largest network; the Internet.The key to succes s for the big companies is the advertising revenue generated by magazines, and the ability of specific interest magazines to provide clearly-defined target audiences. Not that there is complete freedom to publish any material that will make money: there are laws and regulations that affect magazines just are there are for other media forms. 2000 The Media Guide edited by Steve Peak and Paul Fisher (Fourth Estate) 2001 The Media Guide edited by Steve Peak and Paul Fisher (Fourth Estate) EzineArticles. om Lance Winslow, Expert Author , 18 Jul 2006 A decade on the streets Simon Rogers and Xan Brooks, in Media Guardian September 10 2001 http://www. mediaed. org. uk/posted_documents/Magazines. html Radio Radio owes its development to two other inventions, the telegraph and the telephone, all three technologies are closely related. Radio technology began as â€Å"wireless telegraphy†. It started with the discovery of â€Å"radio waves† – electromagnetic waves that hav e the capacity to transmit music, speech, pictures and other data invisibly through the air.Many devices work by using electromagnetic waves including: radio, microwaves, cordless phones, remote controlled toys, television broadcasts, and more. Guglielmo Marconi, an Italian inventor, proved the feasibility of radio communication. Radio-telegraphy is the sending by radio waves the same dot-dash message (morse code) used in a telegraph. Transmitters at that time were called spark-gap machines. It was developed mainly for ship-to-shore and ship-to-ship communication. Lee Deforest invented space telegraphy, the triode amplifier and the Audion.In the early 1900s, the great requirement for further development of radio was an efficient and delicate detector of electromagnetic radiation. The result of Lee DeForest's work was the invention of amplitude-modulated or AM radio that allowed for a multitude of radio stations. Online radio streaming was born in the 90s as a solution for the music industry to reinvent itself or as a solution for activists. WXYC is the first traditional radio station to announce broadcasting on the Internet. The term internet radio isn't just about live streaming on the internet but can also be an archive site with audio files.Online radio can be a terrestrial radio station that broadcasts to a bigger market, or an independent internet-only operator that is just starting. Web radio stations are a good solution for new markets, delivering independent music that listeners can't hear on regular radio. The advantage of internet radio services is that its services are usually accessible from anywhere in the world. Internet radio is distributed most often via streaming, in audio formats like mp3, Ogg Vorbis, Windows Media Audio, RealAudio and others. http://www. radiobunch. com/online-radio-history. html, http://inventors. bout. com/od/rstartinventions/a/radio_2. htm , Mary Bellis Television In the late 1800s, Paul Gottlieb Nipkow, a student in Germ any, developed the first ever mechanical module of television. He succeeded in sending images through wires with the help of a rotating metal disk. This technology was called the ‘electric telescope’ that had 18 lines of resolution. In 1923, an American inventor called Charles Jenkins used the disk idea of Nipkow to invent the first ever practical mechanical television system. From 1926 till 1931, the mechanical television system saw many innovations.Although the discoveries of these men in the department of mechanical television were very innovative, by 1934, all television systems had converted into the electronic system, which is what is being used even today. In 1927, Philo Taylor Farnsworth was able to invent a working model of electronic television that was based on Swinton’s ideas. His experiments had started when he was just a little boy of 14 years. By the time he became 21, Philo had created the first electronic television system, which did away with th e rotating disks and other mechanical aspects of mechanical television.Thus was born the television system which is the basis of all modern TVs. In 1948 there were early tests of cable television in the rural area of Lansford, PA. In 1956 the Ampex quadruplex videotape replaced the kinescope; making it possible for television programs to be produced anywhere, as well as greatly improving the visual quality on home sets. In 1957 the 1st practical remote control, invented by Robert Adler and called the â€Å"Space Commander,† was introduced by Zenith.. This â€Å"Golden Age† of television also saw the establishment of several significant technological standards.These included the National Television Standards Committee (NTSC) standards for black and white (1941) and color television (1953). In 1952 the FCC made a key decision, via what is known as the Sixth Report and Order, to permit UHF broadcasting for the 1st time on 70 new channels (14 to 83). This was an essential decision because the Nation was already running out of channels on VHF (channels 2-13). That decision gave 95% of the U. S. television markets three VHF channels each, establishing a pattern that generally continues today.Thus the â€Å"Golden Age† was a period of intense growth and expansion, introducing many of the television accessories and methods of distribution that we take for granted today. 1962 brought the 1st transatlantic reception of a television signal via the TELSTAR satellite. High definition television (HDTV) was also introduced during this period. In 1981 NHK, the Japanese National Broadcasting company, demonstrated their 1,125 line HDTV system to the Society of Motion Picture and Television Engineers at their Winter conference in San Francisco.In 1994 HDTV standards were established and a plan for the transition from analog to digital transmission of television programming has been rolled out throughout the decade. Not complete http://www. thehistoryoftelevi sion. com/ , Geno Jezek, 2006 http://www. fcc. gov/omd/history/tv/1990-today. html internet The Internet has become such an integral part of our lives, with such powerful capabilities, that it is easy to forget that this technological marvel was created by the long, hard, dedicated efforts of human beings — folks who had a vision of what universal networking could become and worked to make it happen.The conceptual foundation for creation of the Internet was largely created by three individuals and a research conference, each of which changed the way we thought about technology by accurately predicting its future: †¢Vannevar Bush wrote the first visionary description of the potential uses for information technology with his description of the â€Å"memex† automated library system. †¢Norbert Wiener invented the field of Cybernetics, inspiring future researchers to focus on the use of technology to extend human capabilities. The 1956 Dartmouth Artificial Intelli gence conference crystallized the concept that technology was improving at an exponential rate, and provided the first serious consideration of the consequences. †¢Marshall McLuhan made the idea of a global village interconnected by an electronic nervous system part of our popular culture. In 1957, the Soviet Union launched the first satellite, Sputnik I, triggering US President Dwight Eisenhower to create the ARPA agency to regain the technological lead in the arms race.ARPA appointed J. C. R. Licklider to head the new IPTO organization with a mandate to further the research of the SAGE program and help protect the US against a space-based nuclear attack. Licklider evangelized within the IPTO about the potential benefits of a country-wide communications network, influencing his successors to hire Lawrence Roberts to implement his vision. A special computer called an Interface Message Processor was developed to realize the design, and the ARPANET went live in early October, 196 9.The first communications were between Leonard Kleinrock's research center at the University of California at Los Angeles, and Douglas Engelbart's center at the Stanford Research Institute. The first networking protocol used on the ARPANET was the Network Control Program. In 1983, it was replaced with the TCP/IP protocol invented Wby Robert Kahn, Vinton Cerf, and others, which quickly became the most widely used network protocol in the world. In 1990, the ARPANET was retired and transferred to the NSFNET.The NSFNET was soon connected to the CSNET, which linked Universities around North America, and then to the EUnet, which connected research facilities in Europe. Thanks in part to the NSF's enlightened management, and fueled by the popularity of the web, the use of the Internet exploded after 1990, causing the US Government to transfer management to independent organizations starting in 1995. And here we are. http://www. livinginternet. com/i/ii. htm

No such thing as one best way summary Essay

a. What are the authors trying to do in writing this? Whilst this is not empirical research and relies solely on theoretical arguments, Burns does demonstrate the shortcomings of the change contingency model. He attempts to show that organisations have choices which are not utilised which results in significant, negative, implications. b. What are the authors saying which is relevant to what I want to find out? Change could be planned but only in a stable environment. Change, in this situation would be, incremental, not transformational, and ignorant of a more direct approach and presumes that common agreements are reached. However Burns suggest the emergent approach is more important in turbulent environments and situations. He also argues that change is part of learning not just the opportunity to create something new. This idea does link to the contingency theory such that organisations and leaders can manipulate contingencies to align with their own styles and agendas. This is a negative aspect which could be viewed as morally incorrect. Change approaches must match the environment and situation though exercising choice base on alternatives not a single best way. c. How convincing is the author’s argument? Although not empirically based this is a good argument. Burns has a very good reputation in the field of change leadership/management. However it would be necessary to find additional evidence to support or counter these views. The RAVEN test is passed as there is no empirical research therefore we can imply that this paper is simply an academic view. d. In conclusion, what use can I make of this? This could be linked to the paper by Zhu et al to show how transformational leadership can be a good approach to ensure moral decision making and actions are present when dealing with emergent change as this requires a number of contingencies which leaders and followers could use too support long term organisational change.

Gangs in U.S. Society essays

Gangs in U.S. Society essays A. Statement of the problem in question form: What should be done about the problems of gangs in U.S. Society? B. Definitions of ambiguous phrases or words: 1. Chosen people that form a group to set their own standards and believes. 2. A group of person working unlawful or antisocial ends. 1. There are a large number of injuries relating to gang violence. (The (JAMA) journal of the American Medical Association.) i. A gang related incident that was required to be treated by a doctor or a nurse increased from 3.5 percent in 1995 to 4.4 percent in 2000 - a relative increase of 20 percent. ii. Participating in a physical fight on school property anytime during the past 12 months increased from 14.8 percent in 1995* to 16.2 percent in 1997 - a relative increase of 9 percent. iii. Statistics show that in a physical fight anytime during the past 12 months increased from 36.3 percent in 1995 to 42.5 percent in 2000 - a relative increase of 14 percent. 2. Survey respondents in 1998 were asked to estimate how often gang members used firearms in assaults in their jurisdictions. (The 1998 National Youth Gang Survey: OJJDP Fact Sheet, John P. Moore and Ivan L. Cook, Published) i. Office of Juvenile Justice 19 percent), "sometimes" (30 percent), "rarely" (29 percent and Delinquency Prevention the results were as follows: "often" (), "not used" (15 percent), and "did not know" or did not answer the question (7 percent.) ii. Sixty-one percent of all juveniles murdered in 1997 were killed with a firearm. 3. The percentage of murdered gang members in 1997 (National Center for Juvenile Justice, the research division of the National Council of Juvenile and Family Court Judges.) i. 72 % of murdered juveniles were males. ii. 49% were black, and 47% were white. iii. Twenty-two percent of juvenile murder victims were murdered by family members, 37% by acquaintances, and 13% by strangers; in 28% of juvenile murders in 1997, th...

Go Ahead and Wallow in These Depressing Love Quotes

Go Ahead and Wallow in These Depressing Love Quotes Love can make you soar with happiness. Or love can leave you sore with sorrow. Sometimes love can leave you heartbroken. You might be so much in pain from  unrequited love that you never want to love again. Such depression can take a toll on your health. The antidote to heartbreak  just might be depressing love quotes   misery loves company might be a cliche, but its also true. So go ahead and wallow in it for just a bit, knowing that what you are feeling is part of lifes journey and an experience shared by many through the ages. W. Somerset MaughamThe love that lasts the longest is the love that is never returned. Love is only a dirty trick played on us to achieve continuation of the species. BoethiusA man content to go to heaven alone will never go to heaven. For in all adversity of  fortune  the worst sort of misery is to have been happy. Francois de La RochefoucauldAbsence diminishes mediocre passions and increases great ones as the wind extinguishes candles and fans fires. Julie AndrewsAll love shifts and changes. I dont know if you can be wholeheartedly in love all the time. Judy GarlandFor it was not into my ear you whispered, but into my heart. It was not my lips you kissed, but my soul. OvidFortune and love favor the brave. Mother TeresaThe hunger for love is much more difficult to remove than the hunger for bread. Mignon McLaughlinHate leaves ugly scars, love leaves beautiful ones. Albert EllisThe art of love ... is largely the art of persistence. Thomas FullerThe greatest hate springs from the greatest love. Edmund SpenserAnd painful pleasure turns to pleasing pain. Thomas MooreTo love you was pleasant enough. And, oh! Tis delicious to hate you! George Bernard ShawLove is a gross exaggeration of the difference between one person and everybody else. Federico Garcia Lorca, Blood Wedding and Yerma â€Å"To burn with desire and keep quiet about it is the greatest punishment we can bring on ourselves.†Ã‚   Betty Smith, A Tree Grows in Brooklyn â€Å"I know thats what people say youll get over it. Id say it, too. But I know its not true. Oh, youll be happy again, never fear. But you wont forget. Every time you fall in love it will be because something in the man reminds you of him.†Ã‚   Dylan Thomas â€Å"Though lovers be lost, love shall not; And death shall have no dominion.†Ã‚   George R.R. Martin â€Å"When the sun has set, no candle can replace it.†Ã‚   Lana Del Ray â€Å"No one compares to you, but theres no you, except in my dreams tonight.†

Jesus came preaching the kingdom of God, but all Paul left us was the Essay

Jesus came preaching the kingdom of God, but all Paul left us was the church - Essay Example This paper will look at the statement Jesus came preaching the kingdom of God, but all Paul left us was the Church and give reasons for either agreeing or disagreeing with the statement. I disagree with the statement Jesus Came Preaching the kingdom of God, but all Paul left us was the church. This is because both Jesus and Paul taught identical things. Settled, Paul concentrated more on theological concerns than Jesus did, but there is nothing that Paul said that is contradictory to Jesus Christ. Therefore, both Jesus and Paul preached the kingdom of God. As recorded in the Gospels, the basic elements in the preaching of Jesus Christ include, one, his teaching on wealth in which He asserts that it is extremely difficult for a rich individual to go to heaven, and also warns against the gathering of riches on a number of occasions. Two, Jesus gave teachings regarding violence. Finally, Jesus gave teachings regarding compassion and forgiveness (Shillington 17). On the other hand, Paulà ¢â‚¬â„¢s teachings included, one, his teachings on faith. Two, Paul taught the lordship of Christ in his letters. Finally, Paul taught justification in his letters. Jesus claimed in Mathew 5:17 that He did not come to put an end to the Prophets or Law, but He had come to fulfill them. Nonetheless, Jesus frequently re-interpreted the laws, or added to them, in various occasions in extremely radical manners. Paul marked a continuation of the message of Jesus. In Mark 10:25 Jesus claimed it was effortless for a camel to go through the eye of a needle than for a rich person to go into the kingdom of the Lord. Jesus continued to claim that the sole way a rich person could go to heaven was if he could sell all his wealth and give it to the less fortunate (Shillington 18). This statement meant that the Lord would only inspire a rich person to modify his way of life and voluntarily give his wealth to the less fortunate. In addition, Jesus Christ, in a number of instances, warned against the accrual of riches. In Mathew 6:19 Jesus asserted that people should not gather wealth on the universe. He also went ahead and claim that a person did not have the ability to both serve God and money. Jesus did not approve of wealth because he presumed that it was not right for a number of individuals to starve while others lived in wasteful luxury. According to Paul, the followers were to attempt to accumulate spiritual wealth, and as the command progressed, it is evident that the followers were to put their material possessions to use in this endeavor. In Paul’s view, the material wealth of the followers was to incorporate a special duty (Horrell 30). For the followers, the standard Christian life of virtuous duties should entail sensible manifestations of generosity and the eagerness to share. Paul also claimed that since all the rich had came from the Lord, they were to possess a proper opinion of their riches and utilize it to help the less privileged. Paul envisaged a s tewardship of the commodities of the world, and the people blessed with these possessions were to be conscientious administrators of the wealth. On violence, Jesus taught that people should love their enemies. This statement has been interpreted in a number of ways. A number of individ