Quantitative report Essay Example | Topics and Well Written Essays - 1500 words - 1

Quantitative report - Essay Example Despite the way that Brisbane is a state capital, the recorded foundation of the region expresses that it’s no lesser than a huge town of the nation situated on the northern pieces of Australia. Prior the spot was known for its parochialism in the social and political settings. Anyway in the late 80’s, after the retirement of Bjelke-Petersen, Brisbane strolled on the way of modernization. Today the spot is known to have a developing metropolitan feeling with creating businesses and a promising social condition, joined by clog and a creating property showcase. Inspiration Factors to Attend Event In request to investigate the genuine inspiration of individuals for going to the melodic occasion held in Brisbane, a nearby finished example poll was circled arbitrarily to around 100 individuals that had gone to the occasion. The poll was developed in order to reflect down to earth cause that spurs a person to go to such occasion. The reactions of individuals were given as con tribution to measurable investigation and it was discovered that the three most persuading factors for tourists’ to such occasions are Known-bunch socialization, Cultural experience and Intention. These outcomes are gotten from t-test result esteems where the p-estimations of these factors were seen as extremely low inferring high certainty level and dependability. Then again, the essential celebration inspiration for most melodic occasions comprise of different elements like raising assets, spreading a message, advancement of a battle, rivalry, etc. Simultaneously the crowds goes to the occasion with a few thought processes like happiness (Intention), getting the organization of companions (Socialization), having an inclination for the entertainer or basically in light of the fact that they love music (Culture). In this manner, clearly a spot as urbanized as Brisbane would draw in a great deal of traveler. However the topographical area of the spot makes a lot of obstacle fo r individuals arrive at Brisbane since it’s arranged in the remote pieces of Australia. Accordingly the groups that perform here don't locate an inspiring gathering of crowd. In this setting Joel Saunders of the â€Å"Ambitious Lovers† bunch states, â€Å"They don’t come up here on the grounds that they don’t get great turn-outs. Had they come up here in the prime time of [venue] 610 and stuff, there just would have been children there for reasons unknown, which would have recently turned up there (Interview 1 May 2008)† (Rogers, 2008). The nearby groups of Brisbane anyway figure out how to assemble few crowds which remains profoundly subject to the setting and day of the show. It was noted by Griffin that the advanced time of globalization is drawing the crowds from their neighborhood limits and setting them in a worldwide field where the different limitations are effectively survived (Brennan, 2007). Exploration Question On this premise three exa mination questions can be encircled 1. How the segment profile of the crowd can influence their thought process towards going to the melodic occasion? The example survey was circled among 100 arbitrarily chose people and when their reactions were examined it was discovered that the primary segment profile for going to music occasion in Brisbane comprises of individuals with age-gathering of 18 to 30 years. The consequence of factual examination shows that around 46 individuals out of 100 are in that age-bunch which is additionally commanded by females. This is on the grounds that 52% of this 46 individuals in that age-grou

History of the Integrated Circuit (Microchip)

History of the Integrated Circuit (Microchip) It appears that the incorporated circuit was bound to be developed. Two separate creators, uninformed of every others exercises, developed practically indistinguishable incorporated circuits or ICs at about a similar time. Jack Kilby, a specialist with a foundation in clay based silk screen circuit sheets and transistor-based portable amplifiers, began working for Texas Instrumentsâ in 1958. A year sooner, look into engineer Robert Noyceâ had helped to establish the Fairchild Semiconductor Corporation. From 1958 to 1959, both electrical designers were taking a shot at a response to a similar issue: how to make a greater amount of less. What we didnt acknowledge then was that the coordinated circuit would decrease the expense of electronic capacities by a factor of a million to one, nothing had ever done that for anything previously - Jack Kilby Why the Integrated Circuit Was Needed In structuring a complex electronic machine like a PC it was consistently important to expand the quantity of parts engaged with request to make specialized advances. The solid (framed from a solitary precious stone) incorporated circuit set the recently isolated transistors, resistors, capacitors and all the interfacing wiring onto a solitary gem (or chip) made of semiconductor material. Kilby utilized germanium and Noyce utilized silicon for the semiconductor material. Licenses for the Integrated Circuit In 1959 the two gatherings applied for licenses. Jack Kilby and Texas Instruments got U.S. patent #3,138,743 for scaled down electronic circuits. Robert Noyce and the Fairchild Semiconductor Corporation got U.S. patent #2,981,877 for a silicon-based incorporated circuit. The two organizations carefully chose to cross-permit their innovations following quite a long while of fights in court, making a worldwide market now worth about $1 trillion per year. Business Release In 1961 the first industrially accessible coordinated circuits originated from the Fairchild Semiconductor Corporation. All PCs at that point began to be made utilizing chips rather than the individual transistors and their going with parts. Texas Instruments initially utilized the chips in Air Force PCs and the Minuteman Missile in 1962. They later utilized the chips to create the main electronic convenient number crunchers. The first IC had just a single transistor, three resistors, and one capacitor and was the size of a grown-ups pinkie finger. Today an IC littler than a penny can hold 125 million transistors. Jack Kilby holds licenses on more than sixty developments and is likewise notable as the innovator of the convenient number cruncher (1967). In 1970 he was granted the National Medal of Science. Robert Noyce, with sixteen licenses to his name, established Intel, the organization liable for the innovation of the microchip, in 1968. Yet, for the two men, the creation of the coordinated circuit stands truly as one of the most significant advancements of humanity. Practically all advanced items use chip innovation.

Being Brave The Essay Experts New Years Ressaylutions

Being Brave The Essay Expert’s New Year’s Ressaylutions Every year in January, I make New Year’s Resolutions and report them to you, my 1800 or so readers. For anyone who’s serious about resolutions, making them is brave. First of all, we need to do some honest assessment of what’s working and not working in our lives and businesses. We need to consider where we want to head in the next year. Serious resolutions mean the year is going to be a challenge. Of course many of us make our resolutions and then promptly forget about them or give up on them. They are not real to us. But that’s not what I’m talking about here. Making New Year’s Resolutions publicly holds me accountable! As some of you know, I report both my wins and my fails for the year in August and January. This transparency helps me get a lot of things done (though not everything I promise, as you will see below) and encourages me to continually assess and reassess my goals and progress. Here’s what happened in 2013: My 2013 “Ressaylutions” and results were as follows: Publish a Spanish-language version of How to Write a KILLER LinkedIn Profile. Not done. After full consideration of the possibility, I decided it would be untenable to keep up with all the updates of content and images in a foreign-language version of the book as well as an English-language version! Project tabled indefinitely. Publish a 50 Resume Tips book. DONE! In fact, I published two: How to Write a WINNING Resume and How to Write a STELLAR Executive Resume. They have been selling fairly well on Amazon â€" and many resume writers and clients have told me they are very helpful. I have one job seeker who updated her resume based on the book and promptly got a job! Obtain my CMRW (Certified Master Resume Writer Certification, offered by CDI). DONE! Increase the college essay / personal statement portion of my business to 25% of total business. I’m still at 10%. However, realizing that I was not going to make this goal, I have already put some things into place for 2014, and I will be focusing even more on building this aspect of my business. Start a training for resume writers. This one got put on the back burner as I completed my e-books. Tabled for now but might come up again in 2014. Ressaylutions for 2014: Increase college essay / personal statement portion of my business to 25% of business (carried over from last year for a second go). Some steps already taken in the right direction: Speaking at the NRWA Conference in Denver about how to write a standout college essay. Getting interviews for a widely circulated newspaper talking about college essays (publication still pending). And advertising a new summer program for rising high school seniors to work on their writing skills and personal statement topics (Let me know if you have a student who would like to participate). Roll out a new “responsive” (mobile-friendly) website. I have already hired web designers and they are hard at work! Choose a CRM and project management system. The Essay Expert and my assistant Jeanne Goodman do entirely too much record-keeping by hand. I will be investigating CRM and project management systems this year to determine whether there is one that will make our lives easier over here at The Essay Expert! Serve 250 clients. This year The Essay Expert worked with 200 clients to find new jobs, get into school, and achieve business results. I’m aiming to increase that number by 25%! Generate 214 success stories. I haven’t given up on collecting 200+ client success stories. This year we reached 122 (up from 109 in 2012). I’m planning to increase client numbers next year (see #4) so there will be a better chance of increasing the number of success stories. Please share yours if you haven’t already! What are your New Year’s Resolutions and how will you hold yourself accountable? Please share!

Memory And Long Term Memory - 1315 Words

Do you know how many types of memory you have? There are many parts of memory, but two specific parts are Short Term Memory (STM), and Long Term Memory (LTM).Understanding and learning about STM and LTM will help you improve your memory. What they are and how they work are the most important thing to know about them. You will find out is how long short term memory lasts and how long, long term memory last. You will also find out are ways to remember things in Short Term Memory so they go into Long Term Memory, examples of those ways, and types of Long Term Memories with definitions and examples. Once you create a memory it has to be stored in your mind, and it doesn’t matter how long it’s in there. It can be in there for a long time or a short amount of time. Short term and long term memory is an essential part of life. It has the capacity to store, hold, organize, and remember past experiences and to learn. It is an important part of one s ability to operate as an obs ervant person. What is short term memory? â€Å"Short term memory is the very shortest time that you keep something in your mind before it either goes away or transfers to Long Term Memory† (â€Å"Types of Memory). How does Short Term Memory work? â€Å"Short Term Memory works like this, after the first flicker of something, whether it being an image, a feeling, or a sound it goes into your STM. In short term memory, after you create a memory it stays there for a certain amount of time, and information that is important,Show MoreRelatedShort Term Memory and Long Term Memory Essays554 Words   |  3 PagesShort Term Memory and Long Term Memory Research evidence, theorys and studies supports the views that suggest long term memory and short term memory are separate stores. Short term memory is a system for storing information for brief periods of time. Some researchers (e.g. Atkinson and Shiffrin 1968) see short term memory simply as a temporary storage depot for incoming information, whereas others (e.g. Baddeley 1986, 1990) prefer to use the term working memoryRead MoreThe Long Term And Short Term Memory1926 Words   |  8 PagesWilliam James, memory is a generalized concept that encompasses the long term and short term memory. Kendra Cherry, psychologist expert, defines long term memory as â€Å"storage of information over an extended period.† (Cherry n.d.) An individual’s long term memory is structured by a semi-permanent chemical and the anatomical hippocampus. The hippocampus is in the center of both hemispheres of the brain and works in accordance with the amygdala to allow information to be imported to form memories. In relationRead MoreCorrelation Between Media Multitasking And The Differences Of Working Memory And Long Term Memory1424 Words   |  6 Pagesthe correlation between media multitasking and the differences of working memory and long-term memory in heavy media multitaskers and low media multitaskers. The data was collected from one hundred forty three participants ranging in ages from 18-35. The study was conducted from the Stanford University community. The researchers of this study explore the possibilities of multitasking in relation to working and long-term memory. The results showed that there were four significant findings. A limitationRead MoreHow Short and Long Term Memory Work Essay894 Words   |  4 Pages Short and Long Term Memory Your brain collects and forgets thousands, if not millions of memories every day. Every time you see, hear, feel, taste, and smell something, it comes into your mind and becomes a memory. A mental note is literally taken and shipped to your â€Å"short-term memory† file in your brain. Whether or not it gets pushed to â€Å"long-term memory† depends on how often you pull the sense from your brain, because if it is used often, your brain will automatically instruct itself not toRead MoreShort Memory : Long Term Memory1196 Words   |  5 Pages Long Term Memory Long term memory is located in the inner fold of the temporal lobe. Temporal lobe lies beneath the temples on the head. The temporal lobe controls hearing. There is three types of memory that goes with long term memory. First is procedural memory. Procedural memory is apart of the long term memory and is responsible for knowing how to do things ex- how to ride a bike. Next is semantic memory. Semantic memory is knowledge of meanings, the basics and about the world. ThenRead MoreTypes Of Long Term Memory2173 Words   |  9 Pages(1969), long-term memory is defined as the processes by which information is stored in and retrieved from. The two processes involved in long-term memory are encoding and retrieval. Encoding refers to the process in which information is learned and converted into a memory representation, whereas retrieval refers to accessing previously stored information (Shiffrin Atkinson, 1969). The two forms of long-term memory are declarative or explicit memory and non-declarative or implicit memory. DeclarativeRead MoreShort-Term and Long-Term Memory Loss1129 Words   |  5 PagesForgetting in Short-Term and Long-Term Memory: The memory of human beings is similar to that of computers because it allows individuals to store information for later or future use. However, the storage of information in humans involves three major processes i.e. encoding, storage, and retrieval. The encoding process basically involves transforming data into meaningful form like association with an existing image, memory, or sound. This is followed by holding on to the information through a physiologicalRead MoreOverview of Short and Long Term Memory664 Words   |  3 PagesShort and Long Term Memory Psychologists and neurological experts have concluded that in the very instant something is experienced, a memory is formulated within the mind and lasts forever in some part of the brain. Everything that has ever happened, been said by and to, or done to or by that person, or will ever happen to that person is stored somewhere within the human mind as a single piece of memory. Information enters the brain and the organ performs three operations: encoding, storage, andRead MoreChemistry Of My Long Term Memory1137 Words   |  5 Pages1. I am storing chemistry in my long term memory. General Chemistry just had a test last week so I am attempting to store new information, specifically from Chapter 10 tilted Chemical Bonding. We have covered bond theories and have worked extensively on the Lewis Dot structure. The Lewis Dot structure represents the boding of valence electrons, we represent this bonding using dot structures. There are different types of chemical bonds that must be repr esented with their very own dot structure. WeRead MoreLong Term Memory Storage System1537 Words   |  7 Pagesreliance on memory. Long-term memory storage system is characterized by long duration, large capacity, and accessibility. â€Å"Over the years, several different types of long-term memory have been distinguished, including explicit and implicit memory, declarative and nondeclarative memory (with further subdivision of declarative memory in episodic and semantic memory.† (Mastin. 1) Long term memory can store an incredible amount of information over an extensive period. Long term memory is everything

Presencia de padres para solicitar pasaporte de menores

Como regla general, para sacar el pasaporte de EE.UU. para un menor de edad es necesaria la presencia y el consentimiento de ambos padres o, en su caso, del guardià ¡n o tutor legal. Sin embargo, la ley reconoce importantes excepciones a esta regla general, ya que a veces es muy difà ­cil o imposible que ambos padres puedan acompaà ±ar al infante a solicitar el pasaporte. Por ejemplo, cuando no se hablan o, simplemente, no se puede ubicar a uno de ellos. Puntos clave: presencia de padres para solicitar pasaporte para menor en EE.UU. Regla general: es necesaria la presencia y consentimiento de ambos padresExcepciones: custodia no compartida, no es posible ubicar a uno de los padres, es imposible que se presente o uno de ellos se niega a dar su consentimiento para este trà ¡mite. Casos de In Loco Parentis (en el lugar de los padres).Costo pasaporte y/o tarjeta de pasaporte: 16 aà ±os o mà ¡s, 15 aà ±os o menos. Primera vez/renovar. Tarifa de tramitacià ³n urgente y servicio de mensajerà ­a. Regla general sobre presencia de los padres para solicitar pasaporte de EE.UU. para los hijos La regla general es que se necesita el consentimiento de ambos padres para sacar el pasaporte americano para un nià ±o menor de edad. La consecuencia de dicha regla es que para solicitar el pasaporte de un nià ±o estadounidense ambos padres deben presentarse con el menor en la Oficina o Agencia de Aceptacià ³n de Solicitudes de Pasaporte, si se està ¡ en Estados Unidos, o en una oficina consular si se està ¡ en otro paà ­s. Excepciones a la regla de presencia conjunta del padre y de la madre Las normas permiten tres excepciones a esta regla general de obligatoriedad de presencia de ambos padres en el trà ¡mite de solicitud de pasaporte estadounidense para un hijo menor de edad. En primer lugar, no es requisito la presencia de padre y madre en la Oficina o Agencia de solicitud de pasaportes o en la oficina consular cuando se puede probar que uno de los progenitores goza en exclusiva de la custodia sobre el hijo. Los documentos aceptados son las siguientes: Certificado de Nacimiento (forma larga) o Reporte Consular de Nacimiento en el Extranjero del nià ±o en el que figure sà ³lo el nombre del padre o de la madre.Certificado de Defuncià ³n de uno de los padres.Declaracià ³n de una Corte estableciendo que uno de los padres es incompetente para asuntos legales.Certificado de adopcià ³n, cuando el menor es adoptado por sà ³lo un hombre o sà ³lo una mujer.Orden judicial en la que se concede la custodia al padre o a la madre. Sin embargo, en este à ºltimo caso, es posible que el documento judicial expresamente prohiba al progenitor que goza de la custodia en exclusiva del derecho a solicitar un pasaporte para el menor. Si esa es la situacià ³n, no podrà ¡ pedir sin el otro progenitor el pasaporte para el nià ±o. En segundo lugar, no es obligatoria la presencia de ambos padres cuando el papà ¡ y la mamà ¡ tienen la custodia conjunta sobre el menor pero es imposible que uno de ellos acompaà ±e al nià ±o a realizar la tramitacià ³n de pasaporte. Pero para ello es necesario que el progenitor que no lo acompaà ±e complete el formulario DS-3053. Llenar todos los apartados desde el 1 al 4a, dejando en blanco los apartados 4b y 5. Ademà ¡s, hay que obtener la firma de un notario y presentarlo en la oficina de solicitud de pasaporte o en el consulado. Llevar tambià ©n una fotocopia legible de un I.D. oficial del padre ausente. En tercer lugar, incluso es posible que ninguno de los papà ¡s acompaà ±e al infante. En este caso los padres deben hacer una declaracià ³n jurada ante un notario otorgando a favor de otra persona, como por ejemplo, la abuelita o un tà ­o, el poder para acompaà ±ar al nià ±o y representar a los padres para ese asunto concreto. Esto es lo que se conoce como In Loco Parentis (en el lugar de los padres).  ¿Quà © pasa cuando ambos padres tienen la custodia pero uno se niega a dar el consentimiento o no se puede localizar? Es frecuente que en casos de separacià ³n o divorcio no amistosos, uno de los padres se niegue a dar el consentimiento para que los hijos comunes soliciten el pasaporte. Siempre que ambos padres tengan la custodia, el padre o madre que desee que sus hijos tengan pasaporte puede explicar este problema en el apartado 5 del formulario DS-3053. Su explicacià ³n puede ser aceptada o no. Como recurso final siempre se puede pedir una orden judicial para conseguir la autorizacià ³n del otro progenitor. Pero la Corte solo dictaminarà ¡ que el menor puede aplicar por el pasaporte si el viaje al extranjero que se pretende realizar es en interà ©s del menor y no hay riesgo de que se retenga al menor en el extranjero. Se trata de evitar que uno de los padres viaje con los hijos a otro paà ­s y no regresen a Estados Unidos. Si esto ocurriera, serà ­a un delito de secuestro internacional de nià ±os. Tambià ©n puede suceder que uno de los padres no pueda ubicar al otro progenitor para pedir el consentimiento. En este caso la solucià ³n tambià ©n es rellenar el formulario DS-3053, dejando en blanco el apartado 4a y el 4b y extendià ©ndose en el apartado 5 lo mà ¡s que se pueda explicando las gestiones realizadas para localizar otro progenitor. Presencia del menor Cuando se solicita un pasaporte para un nià ±o americano hay que seguir reglas muy estrictas sobre su presencia en la oficina en la que se realiza el trà ¡mite, tanto para la renovacià ³n como para solicitar por primera vez. Como regla general, el nià ±o debe estar presente para este trà ¡mite, aunque sea un bebà ©. Costo y formularios para solicitar pasaporte o tarjeta de pasaporte de EE.UU. para un menor Con el pasaporte estadounidense los ciudadanos estadounidenses pueden salir de e ingresar a EE.UU. por cualquiera de sus pasos migratorios. Por el contrario, con la tarjeta de pasaporte solo es posible utilizar controles migratorios terrestres o marà ­timos hacia/desde Mà ©xico, Bermudas, Canadà ¡ y Caribe. Cada persona puede elegir un documento u otro o ambos, segà ºn sus necesidades. Segà ºn el Departamento de Estado, el costo de solicitar por primera vez o renovar el pasaporte o la tarjeta de pasaporte de un menor son los siguientes: Pasaporte estadounidense por primera vez: 16 aà ±os o mà ¡s: $110 costo de aplicacià ³n mà ¡s $35 tarifa de ejecucià ³n15 aà ±os o menos: $80 costo de aplicacià ³n mà ¡s $35 tarifa de ejecucià ³n Tarjeta de pasaporte: 16 aà ±os o mà ¡s: $30 costo de aplicacià ³n mà ¡s $35 costo de ejecucià ³n15 aà ±os o menos: $15 costo de aplicacià ³n mà ¡s $35 tarifa de ejecucià ³n Si se desea solicitar al mismo tiempo el pasaporte y la tarjeta de pasaporte se deben pagar el costo de aplicacià ³n de ambos documentos pero solo un coste de aplicacià ³n. Asà ­, los nià ±os entre 16 y 18 aà ±os pagan $140 por ambos documentos en concepto de aplicacià ³n mà ¡s $35 por ejecucià ³n. Es decir, un total de $175. En el caso de nià ±os de 15 aà ±os o menos, si se solicitan ambos documentos tendrà ­an que pagar un total de $95 por aplicacià ³n mà ¡s $35 en concepto de ejecucià ³n. La cuota de aplicacià ³n se paga al Departamento de Estado de los Estados Unidos mientras que la de ejecucià ³n, tambià ©n conocida como de aceptacià ³n, se paga a la Oficina de Aceptacià ³n que tramita la gestià ³n. Costo de renovacià ³n: 16 aà ±os o mà ¡s: $110 por pasaporte y $30 por tarjeta de pasaporte. 15 aà ±os o menos: mismas tarifas que cuando se aplica por primera vez Costos extra en la solicitud del pasaporte: Tarifa por tramitacià ³n urgente: $60Tarifa por entrega en por mensajerà ­a urgente: $16,48 Este à ºltimo servicio solo es posible dentro de Estados Unidos. No està ¡ disponible para tarjetas de pasaporte. Formularios para solicitar el pasaporte Menores de 15 aà ±os o menos: DS-11, para solicitar por primera vez y renovar16 aà ±os o mà ¡s: DS-11 para solicitar por primera vez, DS-82 para renovar Quà © hacer cuando el pasaporte no llega Puede suceder que la demora entre dentro de los plazos normales, ya que hay gran diferencia si se sigue el procedimiento ordinario o si se paga para una tramitacià ³n urgente. Pero tambià ©n puede suceder que se extravà ­e por correo. En este caso, es necesario reportar esta incidencia para que las autoridades vuelvan a emitir otro sin coste alguno. Documentacià ³n para el cruce de fronteras Una vez que se tiene el pasaporte, à ©ste es el mejor documento para que un ciudadano americano cruce fronteras, no sà ³lo las de otros paà ­ses, sino tambià ©n para salir y regresar a los Estados Unidos. Sin embargo, en algunos casos muy limitados el pasaporte no es necesario y se admiten otras alternativas para ingresar a Estados Unidos. Sin embargo, la mejor opcià ³n siempre es el pasaporte o, en su caso, la tarjeta de pasaporte. Tambià ©n es importante tener en cuenta quà © documentacià ³n se puede pedir cuando un infante viaja internacionalmente sin estar acompaà ±ado por sus dos padres. Finalmente, antes de viajar a otro paà ­s, verificar la fecha de expiracià ³n del pasaporte, ya que los de los nià ±os expiran a los cinco aà ±os si se emitieron antes de cumplir 16 aà ±os de edad. Si ya habà ­an cumplido dicho edad, los pasaportes son và ¡lidos por 10 aà ±os.   Ademà ¡s, verificar  si se necesita visa para el paà ­s al que se va a viajar. Este artà ­culo es sà ³lo informativo. No es consejo legal para ningà ºn caso concreto.

Psychoanalytic Personality Assessment Free Essays

Each individual is distinguished by their own unique personality. Personality is developed in different stages of a person life. There are several theorists who have tried to decipher the different types of personalities and determine the meaning of each. We will write a custom essay sample on Psychoanalytic Personality Assessment or any similar topic only for you Order Now Freud, Jung, and Adler were known as sterling psychologists. Although they were sterling their views on psychology varied. To compare and contrast their psychoanalysis theories, Freud, Jung, and Adler perspectives on personality was similar but dissimilar at times. This assessment will compare and contrast psychoanalytic theories of Freud, Jung, and Adler. The assessment will also explain the two characteristics in which I agree and disagree. This assessment will describe the stages of Freud’s theory and explain characteristics of personality using these components. This assessment will conclude by describing the use of at least three Freudian defense mechanisms with real life examples. The theories Sigmund Freud, Alfred Adler, and Carl Jung shared is called psychoanalytic theories. These great men main theory was to decipher human behavior. They focused on many aspects of understanding of psychology. Their main focus was to discover a person’s previous childhood experiences and decipher the color a male of female would view a current experience. Freud established the theory that focused on psychosexual progress. Adler established human psychology. Jung established the analytical part of psychology. Freud psychoanalytical insight was broken down using three characteristics Id, ego, and superego (Friedman, Schustack, 2012). Freud describes Id as the foundation of personality. Id is demonstrated as not being affected by the external world (Friedman, Schusstack, 2012). The id hold the main physic force and motivations, which  referent urges or feelings. The second characteristic Freud describes is ego. Ego demonstrates an individual actually having to with the external world. A person ego is controlled by real life encounters for example, going work, taking care of the children, socializing, and running daily errands. Freud believes that a person ego reflects reality principles, which are real life situations. Carl Jung believes that ego is the facet of an individual’s personality. Jung also believes the ego personality is a conscious action of self control. The third characteristic that Freud demonstrates is superego. Superego is the characteristic that joins moral values and society values. Moral values are taught by our parent who allows a person to know right from wrong. Society morals influence an individual personality by the environment that they live among. Superego is a person conscience that telling them from within what ethical decision or action you need to make (Friedman, Schustack, 2012). Carl G. Jung comes from a family line of ministers on both his mother and father side. Jung theories’ regarding personality was peculiar and somewhat different. Jung personality theories consist of a person’s thought and childhood encounters. His focal point was less on sexuality, and more on historical, spiritual, and supernatural occurrences than Freud’s psychoanalytic psychology (Friedman, Schusstack, 2012). Jung analytic psychology was geared toward three component of the mind: the conscious ego, the personal unconscious, and the collective unconscious. Jung theory on ego did resemble to Freud’s theory on ego. He believed that a person’s ego was conscious personified by the self motivation. Jung also believed that an individual develops this personality at four years of age (Friedman, Schustack, 2012). How to cite Psychoanalytic Personality Assessment, Papers Psychoanalytic Personality Assessment Free Essays Psychoanalytic Personality Assessment PSY/250 Psychoanalytic Personality Assessment The psychoanalytic theory states that there are inner forces other than your awareness that affect your behavior. Sigmund Freud, Alfred Adler and Carl Jung influenced psychology with their theories making a very large impact on psychology. As the writer I will compare and contrast the theories of these three gentlemen and decide which of these theories in which I agree and which of these theories I do not agree with. We will write a custom essay sample on Psychoanalytic Personality Assessment or any similar topic only for you Order Now Freud’s work is now the most recognized and most heavily cited in all of psychology and referenced in humanities as well. Freud emphasized on dreams and sexuality. Dreams according to Freud’s psychoanalytic theory are said to have two levels of content, manifest content and latent content. The manifest content is what a person remembers and consciously considers. The latent content is the underlying hidden meaning. This is the trademark idealism of the psychoanalytic approach to personality, in other words what we see on the surface is only a part of what really lies underneath. Friedman Schustack 2009) In his theory â€Å"libido† was the sexual energy that was responsible for psychological tension. Freud believed that the principal driving force behind men and women’s activities was either repressed or expressed sexuality. Unfulfilled sexuality led to pathological conditions. In other words that the unconscious was the storage facility for repressed sexu al desires. (Friedman, Schustack, 2009) Freud also felt that religion was just an escape and a misleading notion which was an idea that should not be spread to people, that religion was a drug of the masses. His faith was fully in the minds ability to access its unconscious thoughts, thus avoiding any psychiatric disorder. Freud viewed the unconscious as a collection of images, thoughts and experiences that an individual refused to process, which led to psychiatric problems. (Wikipedia, 2010) On the other hand Jung disagreed on what constituted the unconscious. Jung added to Freud’s definition by stating that each individual also possessed a collective unconscious, a group of shared images and archetypes common to all humans. Jung was fascinated with symbols. He argued that there are â€Å"archetypes† among these symbols which relate common human heritage, not just individual experiences. (Wikipedia, 2010) Thus each of us has a set of common symbols within us. Jung’s neo-analytic theory also differed suggesting that â€Å"libido† was a general psychic energy that was not sexual in nature. Jung believed that sex amounted to only one of the many things that drive humans. More importantly, humans are driven by their need to achieve individuation, wholeness or full knowledge of the self. Jung quite different in his beliefs, suggests that religion was an important place of safety for the individual as he or she began the process of individuation, exploring and excepting all parts of the self, that religion was a means of communication between all types of people, because although religions differed, the archetypes and symbols remained the same. In my opinion Jung was more mythical. Adler as opposed to Freud and Jung was in a class of his own. He believed that people were social creatures, forming goals and striving to meet them. Adler saw mental health in terms of having healthy values, which affect what goals we try to achieve. He believed that inferiority complexes affected self esteem and caused a negative effect on human health. Adler argued for holism, masculinity and femininity were crucial to understanding human psychology (Friedman, Schustack, 2009). The desire of the self was offset by social and ethical demands. Adler suggested that social realm was important to psychology as was the internal realm. That the dynamics of power and compensation extend beyond sexuality, and that gender and politics were important considerations that go beyond libido. As you can see Adler was quite the socialist and realist and emphasized the role of empathy. One of the characteristics that I agree with is the theory that dreams play a part in psychoanalytic personality. I say this because of my own personal relationship with dreams. I believe that dreams are a part of our unconscious mind, either from repressed traumatic experiences, which can contribute to nightmares, night sweats, waking up at all hours of the night, which in turn can cause emotional instability and psychiatric disorders. In the same token, I also believe that daydreaming and pleasant dreams can be healthy to ones overall mental health. Another characteristic that I agree with is the theory that parenting and childhood development plays an even greater role in personality. I believe that from the moment you are born how you are nurtured, loved, and cared for, shapes who you will become as an adult. Childhood is the most critical time in the development stages of the one’s personality. On the other hand, one of the theories that I disagree with is Freud’s libido theory. I think that he had a dark deep obsession with sex and over emphasized it, in including it in his theory. I felt he had no basis, no proof, and no real meaning in his conclusion. The only connection to personality that I believe sex would have, is if one has been through a traumatic experience such as rape, suffer from sexual identity, a sexual addiction or other sexual crisis, otherwise I feel it has no place in personality. Freud just put way too much emphasis on sex in his theory. Another Freudian theory I disagree with is that religion is just an escape and a misleading notion. I have a strong disenchantment with this, being I am a very religious person. For the most part all nations, all creeds, all walks of life on this earth, have some sort of religious views. Religion is taught to us as children and plays a very important role in how we place our values, our morals, our principals, so to exclude religion from psychoanalytic personality is preposterous. Our religion, along with our childhood development determines who we are and who we will become. Religion is the most destructive of all weapons of mass destruction, and yet Freud looks at it so nonchalantly. More people have died in the name of religion that any other causes. I know that my religion weighs heavily on my personality. The five stages of Freud’s theory are that from age 0-2 (Oral) which is the first stage, the characteristic is the mouth: sucking, biting and swallowing, the conflict is the weaning away from the mother’s breast. This stage suggests that the willing personality is preoccupied with oral activities such as eating, smoking, biting nails or drinking. The oral aggressive personality is hostile and verbally abusive using mouth based aggression. The second stage from age 2-4 (Anal) is the defecating or retaining of feces. The conflict is toilet training. The anal personality is stingy, and has a compulsive desire for order and tidiness. This person is generally stubborn and a perfectionist. The anal expulsive personality has a lack of self control, being generally messy and careless. The third stage from ages 4-5 (Phallic) is genitals. A boy being Oedipus and a girl Electra, which is a process through which they learn to identify with the same gender parent by acting as much like that parent as possible. Boys suffer castration anxiety by believing that the father knows that they desire their mothers, and thinking that the father will castrate him. Girls suffer from penis envy, where she is attached to her mother but then shifts her attachment once she realizes her mother lacks a penis, she then desires her father but later represses her desire for her father and incorporates the value of her mother and accepts her inferiority. The fourth stage, age’s 6-puberty (Latency) is unacceptable sexual desires that may flow into sports and hobbies, having the same sex friends help avoid sexual feelings. This personality is relatively calm. Sexual and aggressive behavior is less active. The fifth and last stage is the Genital stage and this personality represents maturity, intellectual and artistic creativity. This personality is well adjusted and balanced. Now after all of this, are you convinced as well as I am that Freud was way off the charts? Again I say that he put much too much emphasis on sex. Freud believed and developed a series of defense mechanisms and all of his defense mechanisms shared two common properties. One in which they often appeared unconsciously and two they tended to distort, transform, or otherwise falsify reality. One of his defense mechanisms â€Å"Intellectualization† is taking on an objective viewpoint. Suppose a husband learns that his wife has an incurable disease. He tries to learn everything he can about the disease and treatment options and by doing so represses feelings of anxiety, feelings of not being able to do anything to help his wife and any feelings of anger he may be feeling. Focusing on the facts rather than the emotional content of the situation. Freud, Jung and Adler each had their own ideas when it came to psychoanalytic personality, though they did not agree on all aspects of each other’s ideas, combined they were the founding fathers of psychoanalytic personality and are still highly regarded in the field of psychology today. Their theories combined opened doors into the vastness and complexity of the human mind. I believe in the field of psychology a little of each of their theories are being practiced today. There is a little Jung, Adler and Freud in each of us as we try and decipher the human mind and human behavior. References Internet Encyclopedia of Philosophy. (2001). Sigmund Freud. Retrieved from http://www. iep. utm. edu Friedman, H. S. , Schuustack, M. W. (2009). Personality: Classic Theories and Modern Research (4th ed. ). : Pearson Education, Inc.. Boeree, G. C. (1997,2006). Alfred Adler. Retrieved from http://webspace. ship. edu/cgboer/adler/html How to cite Psychoanalytic Personality Assessment, Papers

Career Analysis Of Film and Television Industry - Myassignmenthelp.Com

Question: Discuss about the Career Analysis Of Film and Television Industry. Answer: Introduction The film, television, and screen offer more than entertainment. They inform, inspire and act as a part of the culture. This field offers jobs to many people and create their career path. The glamour and creativity of this industry attract people with a variety of skills. Although working in this industry is not always easy and glamorous as it seems. Different types of challenges may face the emerging practitioner and requires him to develop certain skills to be able to compete and create the desired success he wishes to gain. This essay discusses the industry discipline and the recent changes that took place. It will also highlight the practitioners career specifications within the industry. Finally, it introduces the opportunities and problems faced by emerging practitioners. The film, television and screen industry discipline The TV and screen film production witnessed multiple changes as a result of the variety of media channels that the audience can choose to view. TV channels are no more attractive to the audience who prefer the online space. Today, the screen production offers great career opportunities for creative, problem solver and social people (Auckland University of Technology, 2016). Many film producers developed competencies in the drama television production to be able to diversify their work and sustain their business (Screen Sector Leadership Group, 2017). In order to reduce the risk associated with the film production, producers tend to take important actions according to Screen Australia (2015b), as follows: Cinema on demand: It provides direct contact with the audiences, as it enables anyone to ask for screening a participating film at the cinema. Cinema-on-demand services act as a mediator. Similarly, the tickets on demand that could be purchased on-line. Event screenings: Assist in making the cinema a premium experience for its visitors. The distributor can add more services as allowing questions and answers to the film makers. Primary release to transactional video on demand: Is considered a strategy for some film producers to raise their profile outside the cinema through targeting the online audience, and utilizing social media channels. This way is used to maximize the market impact. Film production attracts different types of people to collaborate on a single project. The work is tasking, stressing and frustrating and it includes difficulties in earning money. It is difficult to find work and stay employed in the film industry. People may stay unemployed between projects. The filmmakers suggest that wages should not be the motivator for work in this occupation (Royster Vilorio, 2013). As an innovative industry, challenges do exist and should be avoided to ensure the stability of a work (Sergi, 2012). Actions should be taken to keep growing in the film and screen industry. The practitioners careers within the film, television and screen industry The career pattern of people working in the film, TV and screen production reveals a diversity of work type. Unlike stable, permanent jobs, the TV and screen industry workers are employed as freelancers, service providers, individual contractors, crew, and directors. Income fluctuates year to year and work is not guaranteed (Mayer, 2017). It is a portfolio career, the junior level faces a lot of competition, but the multi skilled graduate is highly advantages when entering the workplace. For example, the advertising agencies usually contract production houses to make a huge budget commercials and utilize the best directors (Auckland University of Technology, 2016). There are some personal qualities of people who want to join the film and television industry, including the common sense, showing initiatives, resilient, able to learn new skills, communication skills, ability to manage stressful behaviors, and take risks (Brunel University of London, 2012). According to Screen Australia (2015a), there is no right way to enter the film and television industry, it is important to gather information related to the industry. Also, taking training courses and degree is important. Finding work experience, mentorship will help in getting a better chance to be employed. To keep informed about new developments in the industry is very important to find the best opportunity. Networking is considered an effective way to get involved, as state agencies, associations and festivals. The real world examples reveal the importance of formulating a plan to sustain a successful career. According to the British Academy of Film and Television Arts (2017), we can consider the experience of "Jinx Godfrey", an editor. She has participated in Man on Wire, Project, but before this she has started as an assistant editor in a commercial editing company. She began with editing TV commercials and documentaries. Learning was her key to success, as she found that editing documentaries very rewarding. To sustain her career, she could figure out the kind of films she wanted to edit, followed the client directions, established good relationships and she could choose the best work to do. Although, the film and television industry is a highly attractive industry, and people can get their dream jobs within it, but it requires special skills to help in sustaining the career. Opportunities and potential problems faced by emerging practitioners Emerging practitioners have to take the opportunities offered by the industry and manage the expected problems. Working in the film and television industry teach workers how to work within a team and utilize the opportunity to bring their vision to life on screen (Griffith University, 2015). The opportunities and problems are stated as follows: Opportunities: By developing the workers' advanced skills, they will be ready to contribute in the film and television industry as practitioners and the creators (Elsley, 2016) The digital technology underpins the most forms of screen media, the emerging practitioner will learn how to deal with diversity of forms, resources and techniques. Also, he will be able to fit himself in the chosen field (Griffith University, 2015). The digital technology provides opportunities for production and distribution. Although their capabilities for career evolving are still limited. Digital technology creates opportunities for both production and distribution, but its effectiveness for career progression and relationship to professional employment are still evolving (Rossiter Alcaraz, 2015). Access to resources, including time, equipment, finance and formal education are necessary to exist altogether to build a successful career (Rossiter Alcaraz, 2015). Potential problems: Challenges of the film distribution could be represented in the audience attitude, as they pay for the whole experience not only the film. Also, audience expect content on demand at the low or no cost (Screen Australia, 2015b). The career path is nonlinear or predictable, the screen production does not offer a standard definition for the emerging screen practitioner (Rossiter Alcaraz, 2015). The emerging practitioner had to proof himself through practice rather than the formal education (Rossiter Alcaraz, 2015). Following the graduation, the emerging practitioner faces the challenge of balancing between the day job with guaranteed income and the need to prove himself (Rossiter Alcaraz, 2015). The emerging practitioner may move overseas if he is talented to gain a better chance to progress in his career (Mayer, 2016) The emerging practitioner faces considerable amount of problems, especially in the screen production. The industry is dynamic and uncertain in terms of investments, customer demand and outcomes (Rossiter Alcaraz, 2017). There is no stable hierarchy or clearly defined job description that clarify the opportunities and challenges of the career success. Conclusion Film production attracts different types of people to collaborate on a single project. The industry is dynamic and uncertain in terms of investments, customer demand and outcomes. As it is difficult to find work and stay employed in the film industry, it requires special skills to help in sustaining the career. Emerging practitioners have to take the opportunities offered by the industry and manage the expected problems. There is no stable hierarchy or clearly defined job description that clarify the opportunities and challenges of the career success. References Auckland University of Technology. (2016). A future in TV screen production. New Zealand. British Academy of Film and Television Arts. (2017). Succeding in the film, television, and games industry. UK. Brunel University of London. (2012). Industry insight - Media. UK. Elsley, B. (2016). Making TV more diverse. UK: Creative Skillset. Griffith University. (2015). Career options: Film screen media. Australia. Mayer, V. (2016). The production of extras in a precarious creative economy. In M. Curtin, K. Sanson, Precarious Creativity (pp. 5-73). University of California Press. Mayer, V. (2017). The place of treme in the film economy: Love and labor for Hollywood south. In Almost Hollywood, Nearly New Orleans (pp. 69-95). University of California Press. Rossiter, C., Alcaraz, C. (2015). Emerging visions: Career pathways in the Australian screen production industry. Australia: Metro Screen Pty Ltd. Rossiter, C., Alcaraz, C. (2017, Nov. 30). Emerging visions: career success factors in Australian screen production. Retrieved from Aspera: https://www.aspera.org.au/research/emerging-visions-career-success-factors-in-australian-screen-production/ Royster, S., Vilorio, D. (2013). From script to screen. USA. Screen Australia. (2015a). Info guide: Getting started film, TV, online and interactive. Australia. Screen Australia. (2015b). Issues in feature film distribution. Australia. Screen Sector Leadership Group. (2017). Report to culture, tourism, Europe and external relations committee. Scotland. Sergi, G. (2012). Studios and spaces of production in the digital era: Global challenges and local opportunities for the screen industry. The university of Nottingham.

Drug testing in the US army

Drug testing is a frequent object of professional discussion in literature. Much has been written and said about drug testing and its implications for privacy. Thousands of employees are confident that mandatory drug testing is a direct violation of their rights. Others believe that drug testing is needed to promote safety and productivity in the workplace.Advertising We will write a custom essay sample on Drug testing in the US army specifically for you for only $16.05 $11/page Learn More The Army Drug Testing Program obligates soldiers and leaders to be screened for drug abuse at least once a year. Despite numerous ethical controversies, drug testing is essential for the lives and wellbeing of U.S. soldiers and those working in the United States Army. It is imperative that those working for the U.S. Army pass a drug test at least once a year, to guarantee their compliance with the norms and standards of military performance. Drug testing is a frequent object of professional discussion in literature. Despite the growing popularity of drug tests in the workplace, many employees believe that drug testing violates their rights. Certainly, the current state of drug testing systems is not without controversy: â€Å"testing laboratories’ shortcomings can mistakenly brand innocent workers drug abusers, ending their careers† (Zuckerman, 2000, p.A24). This is part of the reason why many employees try to beat the system, diluting their urine samples or purchasing drug-free urine and prosthetics online (Anonymous, 2001). The United States Army runs a drug testing program, aimed to promote a drug-free workplace environment and secure military operations from drug-related failures. Under the Army Drug Testing Program, each soldier is obliged to pass a drug test at least once a year (ASAP, 2010). The main goals of the program are (a) to keep soldiers from using and abusing drugs; (b) to let commanders assess the military and secur ity fitness of their soldiers; and (c) to create a foundation for taking timely appropriate actions in terms of those, who show positive test results (ASAP, 2010). Deontological and utilitarian ethics justify mandatory drug testing in the workplace, including the U.S. Army. From the viewpoint of deontology, drug abuse is a direct violation of the security and workplace standards in the army. As a result, drug testing is not a matter of privacy violation but an effective instrument of detecting those, who use and abuse drugs.Advertising Looking for essay on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More Drug testing reflects military professionals’ striving to follow the principles of beneficence, nonmaleficence, and good will. From the utilitarian perspective, drug testing improves safety and security in the workplace. This is particularly the case of military professionals, who need a sober mind and clear reason to successfully meet their military objectives. Certainly, drug tests’ shortcomings may lead to unpredictable results and hold soldiers responsible for what they never committed. The imperfections of drug testing are a matter of serious ethical concern. Routine drug tests can be extremely intrusive, if other individuals observe the process, to guarantee that there is no urine sample tampering (ACLU, 1997). Drug testing may reveal the presence of other substances and medical conditions in subjects, which is a direct violation of their privacy (ACLU, 1997). Despite these controversies, drug testing in the army is ethically and legally justified. The U.S. Army was created to protect the country from external threats, but it can become a threat to itself and others if soldiers use and abuse drugs. Military professionals are very similar to pilots, drivers, and emergency rescue specialists. They carry a great deal of social responsibility for their acts. Most drug testing shortcoming s can be easily overcome: advances in technology provide ample opportunities to improve the drug testing process and the quality of drug testing results. Medical professionals must develop drug testing strategies to promote a drug-free atmosphere in the U.S. Army and beyond. References ACLU. (1997). Privacy in America: Workplace drug testing. American Civil Liberties  Union. Web. Anonymous. (2001). Drug testing: The things people will do. The American  Salesman, 46(3), 20-23. ASAP. (2010). Drug testing: About the program. Army Substance Abuse Program. Web.Advertising We will write a custom essay sample on Drug testing in the US army specifically for you for only $16.05 $11/page Learn More Zuckerman, L. (2000). Workers get greater drug test protection. New York Times,  A24. This essay on Drug testing in the US army was written and submitted by user Pink Raven to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Dont call me a cougar

Don't call me a cougar Although the term cougar has become synonymous with older women who date younger men, its predatory image is neither accurate nor acceptable in the opinion of many women tagged with the label. Since theres no similar word to describe an older man who dates younger women, many feel its far from complimentary. In fact, they say it is ageist, sexist, and certainly not empowering to women. Celebrities from Demi Moore (whose husband Ashton Kutcher is 16 years her junior) to Kim Cattrall have emphatically stated, Dont call me a cougar! Cattrall in particular rejects the the idea that Samantha, the iconic character she played for six seasons on Sex and the City, is a cougar, saying that some who are uncomfortable with strong women use the term to label women. As Cattrall told the celebrity news show Extra, I dont see anything negative about Samantha and her sexuality, sensuality and choice. Long before Moore or Cattrall took a public anti-cougar stand, UK artist and entrepreneur Julia Macmillan defied the label by making the domain name dontcallmeacougar.com her own. There, she started a blog supportive of women in relationships with younger men because, as she sees it, it should be as normal for a woman to date a younger man as it always has been for a man to date or marry a younger women. Like many attractive and intelligent women who look younger than their years, Macmillan typically dated younger men not because she sought them out but because they had approached her and were more compatible than men her age. When she tried online dating in 2006, she found she wasnt connecting with the same type of men she had met in person; and those that were contacting her didnt suit her at all. Thinking that there had to be a better way, in 2007 she founded a UK dating website with a deliberately sassy, tongue-in-cheek name ToyboyWarehouse.com where members abide by one simple rule: that women date men at least a year younger, and men date women at least a year older. Nowhere on the website is the word cougar ever used. As Macmillan says, Its not empowering to women. She seems to have hit a nerve. Three years later, the site is so successful shes planning to launch a US version of ToyboyWarehouse in late 2010 in the New York City area. I spoke with Julia Macmillan about the cougar stereotype, the reasons why it persists even as women reject the term in growing numbers, and whether theres greater cultural acceptance in the UK or the US toward older female/younger male relationships. You avoid the term cougar and have said, In my view there should be no label. After all, there isnt one for a man who dates a younger woman. What is that stereotype that people have regarding cougars thats offensive to you? Its a stereotype of a woman whos looking for younger men for casual sex which is how the term started originally. I think theres so much more to it than that. The attraction is an enormous part a relationship but sometimes two people can be attracted to each other because they have so much in common. Cougar is too oversexualized and too predatory an image to apply to a broad section of women. Its just one particular type of woman, not all the types of women that necessarily date younger men. Quite a lot of women find it offensive because theyre not the predators. In fact, I know on our site its the young men who are chasing the women. These women are just fabulous. Theyre independent, attractive, but theyre not pouncing on young men. So I think its inaccurate and limiting. Women who routinely date younger men have told me its not as if either side is asking about their partners age. In fact, they say that age doesnt come up in the discussion. The men take the women at face value. Do you find this to be true? That is so true that comment is so spot on. Age doesnt really come up in the conversation. Women are looking fantastic; theyre looking better than before and taking care of their bodies. Its not like 10-15 years ago when a woman over 45 found herself abandoned by a husband who had left her for some young secretary. Today women have the same choices as men. I think cougar is a bit demeaning. Many women say it doesnt apply to them at all. They wouldnt want to be called a cougar and never refer to themselves as cougars. When you look at all the dating sites with cougar in the title there are pictures of attractive middle-aged women in a state of undress. Theres something slightly tacky about that. Theres a lot of really classy women out there who wouldnt want that label attached to them. When an older man dates a younger woman, nobody blinks. Yet not too long ago, if a woman dated a man just 3-5 years younger than herself, she faced disgust and outrage. Back then, shed have been called a cradle robber. Why does this double standard exist? Why is there such animosity towards women? I really think it has to do with whos losing ground in this whole thing. When you look at news articles in the online media referring to some new celebrity whos going out with a younger man, you get a lot of really unpleasant aggressive comments from men because theyre the ones who are going to be left out. Theyve had it their own way for so long; theyve always been able to play the field with women their own age or younger. For women, its been very restricting and socially unacceptable until fairly recently although I do think its been going on longer in a more secretive way for women to date younger men. And I dont mean to be racist about this, but it tends to be older white men that are upset. More and more women are acknowledging their sexuality which before they had to keep in a closed closet. And older white men dont like the kind of freedom that women have been gaining because they dont have so much power anymore. Unfortunately theyre the ones who tend to run the whole establishment and their views have been the predominant views. Women are becoming more powerful in more and more areas, including business and in their choice of partners. Men are going to have to accept the fact that theyre going to lose ground but that its going to be better for all of us in the end. What do you think younger men appreciate about older women? Older women, younger women thats all relative too. Ive got younger women signing up on ToyboyWarehouse who are 30 years old. Its the type of women they are. Theyre independent; theyve got great jobs; they arent looking for a man as a meal ticket because they can take care of themselves. Instead, theyre looking for a man to have a connection with. It could be a purely physical connection; it could be a mental and physical connection (which is obviously the best); but theyre not looking to be dependent on a man. I think that is what the men absolutely love. Older women tend not to have the ticking clock young women have who are looking for husband material. Older women tend to take the relationship as it comes and see how it develops. Most cougar dating websites treat women as if were simply sexual toys; they dont take the whole woman into account. Thats not the case with your website. What did you want to create in ToyboyWarehouse that you had not found on other existing sites? Ive had feedback from other women that confirmed my own bad experiences with online dating. I was 46 when tried it for the first time in the summer of 2006. On the mainstream sites I found that a woman over 40 would tend to get messages from rather boring older men. Id always dated younger men and I just wasnt interested in the type of men I was meeting. Although Id never done anything in the dating industry, I thought, well it cant be too difficult to create the kind of site that I would actually like to be on. The very name ToyboyWarehouse is humorous and witty, and thats an essential part of attraction. The idea was to be fun and playful its from a womans point of view. It evokes the image of a woman going around with a shopping cart and saying, That one looks nice on the shelf. Ill have that one. When the site went live in 2007 there was literally nothing out there for women in their late 30s or older who wanted something a little more exciting than a pipe-and-slippers man whose highlight of the week was probably watching his car in his drive. That was what was missing for me. Do you see any cultural differences in the way older woman/younger man relationships are perceived in the UK vs. the US? It seems that in the UK these women are seen as cheeky and playful, whereas in the US were much more judgmental and make moral assumptions about women who date younger men. I think there are two slightly different issues here. Theres the issue of the actual word cougar. My feeling is that its more acceptable in the US than the UK. We did a survey to see what women thought of the word whether theyd like to be labeled as that. And 95% said, No, it doesnt apply to us. We dont like that word. Possibly in the UK its more acceptable that a older woman should go out with a younger man. Every time a film star or pop star dates a younger man it puts the idea out there. In the US some might see the word cougar as positive because its a beautiful animal; they like the idea of it and they dont see it as a stereotyped label whereas in the UK we fight labels more and its not a badge of honor to be called a cougar its seen as really derogatory. Were going through a transition period. In the next generation it will be as normal for a woman to date a younger man as it always has been the other way around. Were fighting for equality in how were being referred to as well as acceptance that a women can express her own sexuality. Women are so critical of themselves when theyre younger. But as we get older, particularly once were into our 40s and 50s, we tend to become free of those former constraints. Wed like to see that freedom reflected in the partner were with. Yet it seems that at the same time women become more free and liberated within themselves, men seem to shut down. Youve absolutely hit the nail on the head. Young men dont close down but older men do. Ive heard from women who say that if they go out with a man their age, generally hes been through a marriage and hes got a lot of baggage and the kids and the awful ex-wife that he goes on about. Its not much fun for a woman to deal with all of that. Younger men dont tend to have that. Theyre much freer to appreciate a woman. We get a lot of divorcees on the site that have just come out of a 15-year marriage. Maybe their husband hasnt paid them much attention and they havent had sex for years and their self-esteem is at rock bottom; they think theyre not attractive. But then they get adoring emails from young men who say, Youre so beautiful, and suddenly they realize how attractive they really are. Its the most enormous ego boost. They begin dressing up again and then relationships start and suddenly its a whole new world for them. Your website understands what a woman past a certain age wants, and you emphasize intelligence, elegance, and wit. How is it that you get this when so many mainstream sites completely miss this? I think its because Im one of the very few site owners thats a woman. Most sites are run by corporations with all-male boards. There are only a couple of sites that I know of that are founded by women, and women know what other women want. All the marketing I do tends to be social media marketing aimed at women because weve never had problems getting men. There are three times as many men on the site as women. The more you move towards classy, intelligent, elegant, the more women will come. The more you move towards its just about sex the more you cut out a whole swath of women who wouldnt join that kind of site. You can be sexy and intelligent thats going to come through in a site but you cant just push it as a sex site, because that will put a lot of women off. Ive tried to make sure that ToyboyWarehouse is responsive to our UK members. Ive been good at listening to what they ask for. Id like to hear what women want in the US version of ToyboyWarehouse. The tagline in the States will be Where smart meets sexy and I think that encapsulates what its really all about.

MBA Accounting and Managerial Finance Essay Example | Topics and Well Written Essays - 3500 words

MBA Accounting and Managerial Finance - Essay Example 2. The investment related to machinery can be depreciated for tax purposes on the 5-year MACRS schedule while that of related to refurbishing of plant can be depreciated on 10-year MACRS schedule. The residual value of machine at the end of 5 years is expected to be zero. 3. The following income statement has been fore casted by the sales staff of the Sheetbend & Halyard Inc. which appeared to be correct to Mr. Tar except that the book depreciation was used, not the tax depreciation. In the meantime, Sheetbend & Halyard Inc. received a firm offer from Maine real estate developer to purchase Pleasantboro land and plant for $1.5 million in cash. The plant is fully depreciated while land’s cost is $10,000. On the basis of the information available, the CFO Mr. Tar was asked to advise whether the company should bid for the proposal of U.S. Navy. If the proposal is bid and accepted, the company shall receive cash flows for continuous succeeding 5 years. The cash flows are confirmed under the circumstances. However, if such bid is not made, the company may sell the Pleasantboro land and plant immediately. The company will also not need to make additional investment of $1.5 million for the purchase of machinery and refurbishing of plant. The projected Income statement prepared by the sales department is correct in the opinion of Mr. Tar. However, the tax depreciated should be accounted for in the Income statement in place of book depreciation. Using the MACRS depreciation schedule on the 10-years and 5-years for plant and machinery respectively, the following depreciation schedule for future years was made: On the basis of the depreciation calculated as per MACRS schedule and the data prepared by the sales department staff, the following forecasted Income statement for the navy duffel canvas project was prepared by Mr. Tar: In the forecasted income

The use of foreign labour is the only long term solution to overcoming Essay

The use of foreign labour is the only long term solution to overcoming the skills shortages in the construction industry in UK - Essay Example It is generally recognized that the industry needs to work on its image" (The construction industry 2001, p. 14). Among other dimensions featuring in this domain are the state of supply and demand for labour and the structure of employment in the UK. Critics (Ellinor 2005) admit that the nation getting older and foreign labour is the only long-term solution for construction industry (CEDIA UK 2005). Cumulative changes in the demand for labour and the structure of employment-in the macroeconomic arena provide the basis for a transition that is brought about acutely by the contingency of the crisis in the macro-political arena, during which labour-importing states like the UK seize the opportunity to achieve the rationalization of the labour market they have already been hesitantly reaching for. Economic disparities between territories sending and receiving migrants include differences in earnings, livelihoods and living standards (Gilbert 2003). The problem of labour shortage is long term: "and will not be solved unless the industry can reach out to a new generation of potential workers" (The construction industry 2001, p. 14). The rationalization, the replacement of denizens by foreign migrant workers, has political and security as well as economic motivations. Employers recruit skilled migrants because the skills are not available in the UK, and they employ less-skilled immigrants because British-born people - if they are available - are not willing to do the work" (What might be the implications 2007). The UK construction industry is already facing labour scarcity, an impact tacitly acknowledged by the authorities. With the changing economic environment, such factors as imbalance between supply and demand mark construction building in UK (Ross & Marton 2007). In spite of this situation, increased competition has enhanced the need of new technological innovations and economic improvement within the industry to satisfy the needs of the market. It is one of the most important infrastructure requirements, which is essential for the expansion of opportunities and plays an important role in making or breaking the competitive positioning (Industry Must Modernize 2007). Free movement of labour will help the construction industry to overcome labour shortage and ensure supply of foreign workers. The most important is that: "The 'journeymen' concept is widely established in the UK construction sector, and the engineering construction workforce have historically been flexible in regard to geographical mobility" (The construction industry 2001, p. 14). Economically, socially and financially, foreign labour will help the industry to respond to buyer needs and improve its performance. Recent years, the remarkable feature of construction industry in the UK is great imbalance between supply and demand. The basis for advantage is the fact that the industry can stay ahead of the market when firms are more sensitive to and more responsive to demand, and when supply, in turn, reflects or anticipates demand (Roder, 2003). Socially and economically, foreign labour will become a burden for both construction companies and the government. The balance can be achieved when the demand sets the quality standard and gives firms a better picture of buyer needs at an earlier time than is available to rivals. In contrast to UK workers, foreign labour

Regulation of Complementary and Alternative Medicine (CAM)

Regulation of Complementary and Alternative Medicine (CAM) Using Osteopathy as an example, describe and critically evaluate the ways in which the organisation and regulation of Complementary and Alternative Medicine (CAM) in the UK provides safeguards for users. The provision of CAMs in the UK is historically both a component of healthcare services and viewed with suspicion by the dominant medical model of healthcare which has characterised the NHS since its inception in 1948. The kinds of CAMs which are included under the aegis of NHS provision have been restricted, to, for example, homeopathy and osteopathy (Nicholls, in Lee-Treweek et al, ). Such provision is typically regulated and monitored in ways that a wide range of other therapies which come under the same umbrella are not. This essay explores the ways in which this organisation and regulation can provide service users with the same kinds of safeguards that other NHS services have always provided. This kind of regulation, such as that provided by the professional bodies of Nursing (the Nursing and Midwifery Council) and Medicine (The General Medical Council, is a valuable means of ensuring the highest quality of care provision by ensuring only properly trained practitioners are allo wed to practice, whilst at the same time holding practitioners accountable for their practice. Patient feedback and other studies has demonstrated that the provision of CAMs within NHS care provides valuable treatment and support for patients with complex medical conditions. This is a symptom what Heller et al (2005) describe as the ‘late modernity’ of healthcare in the preesent context, characterised by increasing diversification (which is often not recognised by the dominant medical authority of the NHS).Rigorous randomised controlled trials, the gold standard for the provision of evidence for medical care, have demonstrated that CAMs are effective, yet the Medical model of care still does not always allow for the value of such treatments, and they are treated as ‘fringe’ medicine. Because of this, and because of the general standards of regulation and surveillance of medical care, very few complementary therapies are provided as a matter of course within the NHS, despite some therapies, such as Homeopathy, having a history of regulation and care pr ovision going back to 1844 (Nicholls in in Lee-Treweek et al). The training of CAM practitioners has also changed, with a more rigorous training process which reflects professional education processes and principles, and some standardisation (though not national standardisation) of education and standards. However, one therapy which is provided in this context is osteopathy. The changing face of medicine has both served the inclusion of CAMs within the NHS and served to bring about regulation by aligning the training and provision of such therapies with the principles which have governed medicine and medical practice in the UK (Heller et al, 2005). The concept of health has also evolved (Cant, in in Lee-Treweek et al; Heller et al, 2005). This has led to the emergence of integrative medicine, in which CAM practitioners work in conjunction with multi-disciplinary healthcare teams which manage patient care in an holistic and comprehensive manner (Cant, in Lee-Treweek et al). Obviously, this is the ideal from the point of view of the service user, because the hitherto unchallenged medical model of health has been replaced by a growing understanding of the complex nature of health and illness and the similarly complex responses required from those charged with promoting health and treating illness, disease and injury (Cant, in Lee-Treweek et al). However, th is has had what some view as a negative effect on CAM provision. As Heller et al (2005) state, â€Å"the growth of ‘integrative medicine’ represents an undermining of counter-cultural values, as more holistic paradigms based on challenging orthodox biomedical or ‘scientific’ theories may become displaced proximity to the dominant biomedical systems† (P xiii). Another issue is that as CAMs become more prevalent within ‘normal’ medicine and health, medical and nursing staff who are asked to advise on these therapies may not have been able to maintain current knowledge of the evidence about these therapies (Heller et al, 2005). One of the potential benefits of this influence, however, is that of ensuring patient safety. Heller et al (2005) state clearly that patients must make informed choices about such therapies, and should be able to have the information to evaluate the safety of the practitioner and the therapy. This is evident in the ways in which most people access CAMs, through private practice, through seeking out treatment and evaluating which practitioners of which therapies to access (Heller et al, 2005). However, there is such a diversity amongst many practitioners of sources of training and regulation that for many therapists, having a certificate of membership of a ‘professional’ organisation is no guarantee of quality or of redress should the service user be dissatisfied with or harmed by the therapy provided. The author has anecdotal evidence of discussions with medical doctors who believe that CAMs practitioners are dangerous, poorly regulated, and represent a danger to the pub lic by preventing sick people accessing or utilising medical healthcare services. This is a rather limited view, but one which signifies certain areas of public opinion, which in turn reflects the ways in which many therapies have not been regulated, evaluated through rigorous testing, or been subject to the same kinds of quality control and surveillance as conventional medicine. Osteopathy, however, is regulated by Acts of Parliament in a similar fashion to medicine, nursing and allied healthcare professionals, and is described as one of the ‘big five’ of the CAMs, which have a better reputation and standing within conventional medicine (Heller et al, 2005). It is this regulation which is supposed to protect patient safety and safeguard the interests of service users, but it also serves other purposes. Stone (1996) argues that regulation is not merited by the majority of therapies and would be inappropriate for therapies which are too different from medicine. Regulation ensures that the profession itself has a better professional status, that all its practitioners are trained in a similar manner, and provides support, guidance and legal support to practitioners. This suggests an increased level of responsibility and accountability, because professional bodies maintain agreed and defined standards. Therefore, in terms of informed choice, any serv ice user can be assured that any practicing osteopath is subject to the same standard of training and the same regulation, and so should be ‘safe’ to access, much in the same way as medical care is accessed. Thus regulation may safeguard patient safety by being required to formally adhere to ethical principles. Heller et al (2005) describe the requirements of professional ethical practice as: â€Å"a duty to tell the truth; a duty to act honestly and fairly; a duty to respect people’s wishes, and not to treat people as a means to an end, but as individuals with rights; a duty not to harm people;†¦[and the right] not to be harmed [and] not to be lied to.† (p 85). While these may be considered general human rights they are augmented by principles which are generally agreed to underpin healthcare, including the principles of beneficence and non-maleficence (Heller et al, 2005). It could be argued that no therapy should be provided, therefore, which does not have proven benefits to the patient, and is proven to do no harm to the patient. Professional regulation may serve this purpose, because it professionalises the therapy and demands acceptable standards of evidence to demonstrate these features. But only therapies which can provide this standard of evidence would be regulated (Stone, 1996) which could have detrimental effects on the status and reputation of more esoteric therapies which cannot be subject to the kinds of evidence that underpins medicine. Voluntary regulation may be the answer: â€Å"Consumers will best be protected by a dynamic, ethics-led approach to voluntary self-regulation in which high standards of practice together with visible and effective disciplinary procedures are given higher prominence than the pursuit of professional status (Stone, 1996 p 1493). In conclusion, this author believes that regulation, either statutory or voluntary, holds practitioners accountable and serves the interest of consumers by demonstrating that those providing CAMs are at the least educated to some kind of agreed standard, and by offering consumers a means of redress should they be dissatisfied with their treatment. However, only statutory regulation would give proper redress, but in the current legal context, there is so much legislation protecting the interests and rights of consumers of goods and services that there is plenty of room for redress through other means. Only statutory regulation could offer assurances of safety, but this is not suitable for all therapies (Stone, 1996). References Heller, T., Lee-Treweek, G., Katz, J. et al (2005) (eds). Perspectives on complementary and alternative medicine. Milton Keynes: Open University Press/Routledge. Stone, J. (1996) Regulating complementary medicine: standards, not status. BMJ 312 1492-1493.

Carmen Marinache Essay

Assuming complex businesses in which company is part of: – organising logistics operations ( railway transportation from station of departure to station of destination, reception of wagons at final station of destination, unloading the cargo from wagons and loading it into trucks / handling, delivery up to the client’s terminal); – organising special transports such as munitions transportation in transit via Romania; – organising cargo exports from Romania with guard protection on route; – organising oversized transportation, export from Romania to different countries, which implies: obtaining loading drawing from an authorised company, obtaining approval for transportation from the railways and infrastructure, issuing CIM railway bills, coordinating the transport with foreign railways on traffic and obtaining all necessary traffic permission by keeping in touch with all our external partners, solving problems that might occur while transportation is performed; – organising exports from Romania to different countries from exCIS in special SZD wagons (wagons from CIS countries), obtaining all traffic permissions, keeping in contact with clients and partners for a prompt solving of all difficult situations; – organising transportation of wagons on their own wheels as well as of locomotives; – participating to organisation of multimodal traffic – Ex: cargo coming by vessel, unloading directly or indirectly to wagons and customs clearance through a sister company specialised in port in such ki nd of operations), railway transportation up to one station in Europe, unloading of cargo and delivery by trucks to consignee, etc. ? Keeping in contact with Accounting and Financial Dept. in order to mutually solve problems related to the financial part of the business; ? Based on the information received from the Controlling Dept. , analysing and proposing to the Executive Manager personal evaluation for personnel; ? Monthly analysing the activity of the Railway Dept. calculating estimated operational profit, calculating the total tonnage, presenting the situations to Executive Director; ? Contacting and visiting potential clients; ? Taking part to set up of transport and freight forwarding contracts with Romanian and foreign clients/partners ; ? Representing the company within international exhibitions and fairs, in Romania and abroad, to Express Interfracht Holding own stand, and within conferences having as topic the improvement of railway transportation; ? Issuing the documentation of company presentation and representing the company within different tenders opened by big production companies in Romania, in o rder to choose logistic supplier.

Portfolio Construction Using Technical and Fundamental Analysis Essay

CHAPTER ONE: INTRODUCTION 1.1 Background of the Organization Smart Equity Brokers Pvt. Ltd. & Smart Commodity Brokers Pvt. Ltd. was established on 1st May 2006 as Smart Equity Brokers Pvt. Ltd., by a young Chartered Accountant, Mr. Arun Khera, supported by Mr. Ravi Raj Jain, both having a rich experience & exposure to capital, derivative & commodity market. The Company acquired the membership of : ïÆ'Ëœ Bombay Stock Exchange [BSE] in 2006 ïÆ'Ëœ National Stock Exchange [NSE] in 2006 ïÆ'Ëœ National Commodity & Derivative Exchange [NCDEX] in 2003 ïÆ'Ëœ Multi Commodity Exchange [MCX] in 2006 ïÆ'Ëœ Derivatives Segment [NSE], Clearing Member in 2006 Smart is a full service brokerage house providing comprehensive advisory services to its clients under one roof, enabling you to manage all your financial needs. We have expertise in advisory services in both cash and derivatives sides of the capital markets. Smart also provides commodity trading through its group subsidiaries, and is a member of the MCX and NCDEX. The services are offered under total confidentiality and integrity with the sole purpose of maximizing returns to our customer base is a mix of institutional, high net worth, and retail investors. This diversified base of customers, together with our wide gamut of services, provides us with the necessary stability and strength to weather the volatility much better than that of the competitors and also maintain high standards of customer service levels throughout. Smart meets the support needs of this investor base through execution skills driven by an experienced sales team and research-backed advice generated by a team of experienced analysts. Smart advisory services range from investing, trading, research, financial planning and portfolio management, which are offered, to a large number of high net worth individuals and corporate. Mission:- To provide research-driven, unbiase d investment advise with the objective of achieving sustainable superior investment returns for our clients. To provide flawless execution support to meet diverse client needs on a platform of professionalism and integrity. Our Values To be fair, empathetic and responsive in serving our customers. To respect and reinforce our fellow employees and the power of teamwork. To strive relentlessly to improve what we do and how we do it. To always earn and be worthy of our customer’s trust. 2 1.2 Introduction of the Study This project is being done to construct portfolio of clients with the help of fundamental and technical analysis. Also analyse their portfolio by valuating those companies where they have already invested using specific valuation model. Then find out whether it is right time to invest in those companies using technical analysis. Also calculating the returns they are getting and suggest for higher return. Fundamental Analysis gives us the idea what to buy or what to sell, while Technical Analysis tells us the timing when to buy or when to sell. In this project I am mainly focusing on how to provide a holistic view to the clients, specifically HNIs (High Net-worth Individuals), on investing in equity market i.e. stock market. The main motive of this research is to check whether fundamental analysis and technical analysis together is useful to provide better suggestion for investments. 1.3 Learning Objectives of the project The  project  undertaken  during  the  period  of  internship  was  Ã¢â‚¬Å"Portfolio  Construction  using  Fundamental  and  Technical  Analysis†. The  learning  objectives  of  the  internship  are  as  follows:- ­Ã¢â‚¬  ïÆ'Ëœ Understanding  the  various  activities  in  a  Broking  Firm ïÆ'Ëœ To  get  acquainted  with  theall  workings  of  online  trading ïÆ'Ëœ To  gain  practical  knowledge  in  share  trading ïÆ'ËœTo  analyze  the  financial  market  &  share  movements  in  order  to  study  of  prospects  of  investing  in  a  particular  stock. ïÆ'Ëœ To  understand  the  working  in  the  derivatives  market. 1.4 Need of the Project Portfolio Construction is all about investing in a range of funds that work together to create an investment solution for investors. Building a portfolio involves understanding the way various types of investments work, and combining them to address your personal investment objectives and factors such as attitude to risk the investment and the expected life of the investment. When building an investment portfolio there are two very important considerations. †¢ The first is asset allocation, which is concerned with how an investment is spread across different asset types and regions. †¢ The second is fund selection, which is concerned with the choice  of fund managers and funds to represent each of the chosen asset classes and sectors. Both of these considerations are important, although academic studies have consistently shown that in the medium to long term, asset allocation usually has a much larger impact on the variability of a portfolio’s return. To help in ch oosing a 3 suitable asset allocation we have created a Risk Profiler that helps identify your attitude to risk and therefore better identify a combination of investments to build a portfolio. With such a vast number of investment funds to choose from, spanning the full range of asset classes and world markets it is easy to become confused when choosing which investments to make. It is even more difficult to choose the right combination of investment to potentially meet your investment goals. The tool, which we use so as to build the portfolio, is technical and fundamental analysis. 1.5 Scope of Project – extent and limitation The study will help the organization to know the present condition of the portfolio construction and expectations of the clients towards portfolio The willingness of the clients and to implement portfolio system which is effective for the clients Limitations of the Study: This project is being done with the help of historical data like annual reports of the company. So, the availability of data is the limitation of this project. Also this project needs a lot of time to analyzing data. As the project is based on secondary data, possibility of unauthorized information cannot be avoided. The report is basically is made between the horizon of three months and the situation of market is very dynamic so the conclusion or the return might not reflect the true picture. 4 CHAPTER TWO: METHODOLOGY 2.1 Research Design The methodologies used for portfolio construction are technical and fundamental analysis. While constructing the portfolio it was kept in mind that it was basically built for investing purpose. 2.2 Data Collection method and instruments All the data, graph and charts are collected from secondary sources. The instruments used are iChart Java application to construct charts and graphs. 2.3 Analysis Techniques and Procedure Fundamental analysis is the foundation of solid investing. It helps you determine the underlying health of a company by examining the business’ core numbers: its income statements, its earnings releases, its balance sheet, and other indicators of economic health. From these â€Å"fundamentals† investors evaluate if a stock is under- or overvalued. Fundamental analysis begins with an individual stock, but it also extends to that company’s larger context. It explores questions like these: Is the company competitive within its industry? Is that industry growing or shrinking, compared to other sectors? Shares of companies with strong fundamentals will tend to go up over time, while fundamentally weak companies will see their stock prices fall. This makes fundamental analysis especially valuable to long-term investors. Fundamental analysis is one school of investing research. It contrasts with another popular approach, technical analysis, which focuses not on business fundamentals but on stock-price action as reflected in charts. Technical analysts look for recognizable patterns in price charts that will help them estimate the stock’s future price movement. Fundamental analysis helps you determine if a company is a good or poor investment choice. Imagine you’re a venture capitalist or a bank, who must decide if that company is worthy of a loan or equity investment. How can you evaluate  whether this particular company deserves your investable capital? Fundamental analysts consider the following in making their decision to invest (or not): ïÆ'Ëœ Is the company making a profit consistently? (While this is naturally the most important question for investors, it’s important to consider the answer in a bigger context. A single profitable quarter for a new company might be a fluke. In the same regard, a drop in profitability for an established blue-chip company might just be a temporary setback.) ïÆ'Ëœ Is that profit growing or declining over time? ïÆ'Ëœ Is the company holding its own relative to the competition? Is it a leader in its sector? Is that sector growing or declining in importance to the overall economy? ïÆ'Ëœ Can the company pay its bills adequately? If you were to dismantle the company’s operations today, what would be the intrinsic value of its assets versus the value of its debts? Fundamental Analysis Tools ïÆ'Ëœ Earnings per Share – EPS ïÆ'Ëœ Price to Earnings Ratio – P/E ïÆ'Ëœ Projected Earning Growth – PEG ïÆ'Ëœ Price to Sales – P/S ïÆ'Ëœ Price to Book – P/B ïÆ'Ëœ Dividend Payout Ratio ïÆ'Ëœ Dividend Yield ïÆ'Ëœ Book Value ïÆ'Ëœ Return on Equity Earnings per Share – EPS The portion of a company’s profit allocated to each outstanding share of common stock. Earnings per share serves as an indicator of a company’s profitability. Calculated as: 5 When calculating, it is more accurate to use a weighted average number of shares outstanding over the reporting term, because the number of shares outstanding can change over time. However, data sources sometimes simplify the calculation by using the number of shares outstanding at the end of the period. Diluted EPS expands on basic EPS by including the shares of convertibles or warrants outstanding in the outstanding shares number. Price to Earnings Ratio – P/E Price/Earnings or P/E ratio is the ratio of a company’s share price to its earnings per share. It tells whether the share price of a company is fairly valued, undervalued or overvalued. Formula P/E Ratio = Current Share Price Earnings per Share Current share price is obtained from secondary markets like BSE, NSE, etc. while EPS is calculated as (net income minus preferred dividends)/weighted average number of shares outstanding. Leading and Trailing P/E Ratio If the EPS is the figure for the current period the P/E ratio is called trailing P/E ratio. For better analysis the EPS should be the one expected to prevail in the next reporting period, say next year. P/E ratio calculated based on expected P/E ratio is called leading P/E and is a more meaningful estimate of the company’s justified P/E ratio. Analysis If the justified P/E calculated using dividend discount analysis is higher than the current P/E ratio the share is undervalued and should be purchased. If the justified P/E is lower than P/E ratio the share is overvalued and should be sold. Projected Earning Growth – PEG 6 A stock’s price to earnings ratio divided by the growth rate of its earnings for a specified time period. The price/earnings to growth (PEG) ratio is used to determine a stock’s value while taking the company’s earnings growth into account, and is considered to provide a more complete picture than the P/E ratio. While a high P/E ratio may make a stock look like a good buy, factoring in the company’s growth rate to get the stock’s PEG ratio can tell a different story. The lower the PEG ratio, the more the stock may be undervalued given its earnings performance. The calculation is as follows: (P/E ratio)/Annual EPS Growth Price to Sales – P/S Investors are always seeking ways to compare the value of stocks. The price-to-sales ratio(Price/Sales or P/S) provides a simple approach: take the company’s market capitalization (the number of shares multiplied by the share price) and divide it by the company’s total sales over the past 12 months. The lower the ratio, the more attractive the investment. As easy as it sounds, price-to-sales provides a useful measure for sizing up stocks. But investors need to be mindful of the ratio’s potential pitfalls and possible unreliability. Dividend Payout Ratio Dividend payout ratio is the ratio of dividend per share divided by earnings per share. It is a measure of how much earnings a company is paying out to its shareholders as compared to how much it is retaining for reinvestment. Formula Dividend Payout Ratio = Dividend per Share Earnings per Share Dividend payout ratio can also be calculated as total dividends divided by net income. Analysis A shareholder has two sources of return, namely periodic income in the form of dividends and capital appreciation. Dividend payout ratio tells what percentage of total earnings the company is paying back to shareholders. A healthy dividend payout ratio leads to investor confidence in the company. Plowback ratio (also called retention rate) is equals 1 − payout ratio and it equals the earnings retained divided by total earnings for the period. 7 Book Value 1. The value at which an asset is carried on a balance sheet. To calculate, take the cost of an asset minus the accumulated depreciation. 2. The net asset value of a company, calculated by total assets minus intangible assets (patents, goodwill) and liabilities. 3. The initial outlay for an investment. This number may be net or gross of expenses such as trading costs, sales taxes, service charges and so on. Also known as â€Å"net book value (NBV).† Return on Equity Return on equity or return on capital is the ratio of net income of a business during a year to its stockholders’ equity during that year. It is a measure of profitability of stockholders’ investments. It shows net income as percentage of shareholder equity. Formula The formula to calculate return on equity is: ROE = Annual Net Income Average Stockholders’ Equity Net income is the after tax income whereas average shareholders’ equity is calculated by dividing the sum of shareholders’ equity at the beginning and at the end of the year by 2. The net income figure is obtained from income statement and the shareholders’ equity is found on balance sheet. You will need year ending balance sheets of two consecutive financial years to find average shareholders’ equity. Analysis Return on equity is an important measure of the profitability of a company. Higher values are generally favorable meaning that the company is efficient in generating income on new investment. Investors should compare the ROE of different companies and also check the trend in ROE over time. However, relying solely on ROE for investment decisions is not safe. It can be artificially influenced by the management, for example, when debt financing is used to reduce share capital there will be an increase in ROE even if income remains constant. Technical Analysis can be defined as an art and science of forecasting future prices based on an examination of the past price movements. Technical analysis is not astrology for predicting prices. Technical analysis is based on analyzing current demand-supply of commodities, stocks, indices, futures or any tradable instrument. Technical analysis involve putting stock information like prices, volumes and open interest on a chart and applying various patterns and indicators to it in order to assess the future price movements. The time frame in which technical analysis is applied may range from intraday (1-minute, 5-minutes, 10-minutes, 15-minutes, 30-minutes or hourly), daily, weekly or monthly price data to many years. There are essentially two methods of analyzing investment opportunities in the security market viz fundamental analysis and technical analysis. You can use fundamental information like financial and non-financial aspects of the company or technical information which ign ores fundamentals and focuses on actual price movements. The basis of Technical Analysis What makes Technical Analysis an effective tool to analyze price behavior is explained by following theories given by Charles Dow: †¢ Price discounts everything †¢ Price movements are not totally random †¢ What is more important than why CANDLE CHARTS What is a chart? Charts are the working tools of technical  analysts. They use charts to plot the price movements of a stock over specific time frames. It’s a graphical method of showing where stock prices have been in the past. 8 A chart gives us a complete picture of a stock’s price history over a period of an hour, day, week, month or many years. It has an x-axis (horizontal) and a y-axis (vertical). Typically, the x-axis represents time; the y-axis represents price. By plotting a stock’s price over a period of time, we end up with a pictorial representation of any stock’s trading history. A chart can also depict the history of the volume of trading in a stock. That is, a chart can illustrate the number of shares that change hands over a certain time period. Candlesticks Formation Candlestick charts provide visual insight to current market psychology. A candlestick displays the open, high, low, and closing prices in a format similar to a modern-day bar-chart, but in a manner that extenuates the relationship between the opening and closing prices. Candlesticks don’t involve any calculations. Each candlestick represents one period (e.g., day) of data. The figure given below display s the elements of a candle. 9 , A candlestick chart can be created using the data of high, low, open and closing prices for each time period that you want to display. The hollow or filled portion of the candlestick is called â€Å"the body† (also referred to as â€Å"the real body†). The long thin lines above and below the body represent the high/low range and are called â€Å"shadows† (also referred to as â€Å"wicks† and â€Å"tails†). The high is marked by the top of the upper shadow and the low by the bottom of the lower shadow. If the stock closes higher than its opening  price, a hollow candlestick is drawn with the bottom of the body representing the opening price and the top of the body representing the closing price. If the stock closes lower than its opening price, a filled candlestick is drawn with the top of the body representing the opening price and the bottom of the body representing the closing price. Each candlestick provides an easy-to-decipher picture of price action. Immediately a trader can see and compare the relationship between the open and close as well as the high and low. The relationship between the open and close is considered vital information and forms the essence of candlesticks. Hollow candlesticks, where the close is greater than the open, indicate buying pressure. Filled candlesticks, where the close is less than the open, indicate selling pressure. Thus, compared to traditional bar charts, many traders consider candlestick charts more visually appealing and easier to interpret. 10 Why candlestick charts? NIFTY (Daily) Candlestick Chart What does candlestick charting offer that typical Western high-low bar charts do not? Instead of vertical line having horizontal ticks to identify open and close, candlesticks represent two-dimensional bodies to depict open to close range and shadows to mark day’s high and low. For several years, the Japanese traders have been using candlestick charts to track market activity. Eastern analysts have identified a number of patterns to determine the continuation and reversal of trend. These patterns are the basis for Japanese candlestick chart analysis. This places candlesticks rightly as a part of technical analysis. Japanese candlesticks offer a quick picture into the psychology of short term trading, studying the effect, not the cause. Applying candlesticks means that for short-term, an investor can make confident decisions about buying, selling, or holding an investment. Candlestick analysis One cannot ignore that investor’s psychologically driven forces of  fear; greed and hope greatly influence the stock prices. The overall market psychology can be tracked through candlestick analysis. More than just a method of pattern recognition, candlestick analysis shows the interaction between buyers and sellers. A white candlestick indicates opening price of the session being below the closing price; and a black candlestick shows opening price of the session being above the closing price. The shadow at top and bottom indicates the high and low for the session. 11 Japanese candlesticks offer a quick picture into the psychology of short term trading, studying the effect, not the cause. Therefore if you combine candlestick analysis with other technical analysis tools, candlestick pattern analysis can be a very useful way to select entry and exit points. One candle patterns In the terminology of Japanese candlesticks, one candle patterns are known as â€Å"Umbrella lines†. There are two types of umbrella lines – the hanging man and the hammer. They have long lower shadows and small real bodies that are at top of the trading range for the session. They are the simplest lines because they do not necessarily have to be spotted in combination with other candles to have some validity. Hammer and Hanging Man Hammer Hanging Man Candlesticks Hammer Hammer is a one-candle pattern that occurs in a downtrend when bulls make a start to step into the rally. It is so named because it hammers out the bottom. The lower shadow of hammer is minimum of twice the length of body. Although, the color of the body is not of much significance but a white candle shows slightly more bullish implications than the black body. A positive day i.e. a white candle is required the next day to confirm this signal. Criteria †¢ The lower shadow should be at least two times the length of the body. †¢ There should be no upper shadow or a very small upper shadow. †¢ The real body is at the upper end of the trading range. The color of the body is not important although a white body should have slightly more bullish implications. †¢ The following  day needs to confirm the Hammer signal with a strong bullish day. Signal enhancements 1. The longer the lower shadow, the higher the potential of a reversal occurring. 2. Large volume on the Hammer day increases the chances that a blow off day has occurred. 3. A gap down from the previous day’s close sets up for a stronger reversal move provided the day after the Hammer signal opens higher. Pattern psychology 12 The market has been in a downtrend, so there is an air of bearishness. The price opens and starts to trade lower. However the sell-off is abated and market returns to high for the day as the bulls have stepped in. They start bringing the price back up towards the top of the trading range. This creates a small body with a large lower shadow. This represents that the bears could not maintain control. The long lower shadow now has the bears questioning whether the decline is still intact. Confirmation would be a higher open with yet a still higher close on the next trading day. Hanging man The hanging man appears during an uptrend, and its real body can be either black or white. While it signifies a potential top reversal, it requires confirmation during the next trading session. The hanging man usually has little or no upper shadow. Soybean Oil-December, 1990, Daily (Hanging Man and Hammer) 13 Dow Jones Industrials-1990, Daily (Hanging Man and Hammer) Shooting star and  inverted hammer Other candles similar to the hanging man and hammer are the â€Å"shooting star,† and the â€Å"inverted hammer.† Both have small real bodies and can be either black or white but they both have long upper shadows, and have very little or no lower shadows. Inverted Hammer Description Inverted hammer is one candle pattern with a shadow at least two times greater than the body. The small body identifies this pattern. They are found at the bottom of the decline which is evidence that bulls are stepping in but still selling is going on. The color of the small body is not important but the white body has more bullish indications than a black body. A positive day is required the following day to confirm this signal. Signal enhancements 1. The longer the upper shadow, the higher the potential of a reversal occurring. 2. A gap down from the previous day’s close sets up for a stronger reversal move. 14 3. Large volume on the day of the inverted hammer signal increases the chances that a blow off day has occurred 4. The day after the inverted hammer signal opens higher. Pattern psychology After a downtrend has been in effect, the atmosphere is bearish. The price opens and starts to trade higher. The Bulls have stepped in, but they cannot maintain the strength. The existing sellers knock the price back down to the lower end of the trading range. The Bears are still in control. But the next day, the Bulls step in and take the price back up without major resistance from the Bears. If the price maintains strong after the Inverted Hammer day, the signal is confirmed. Stars A small real body that gaps away from the large real body preceding it is known as star. It’s still a star as long as the small real body does not overlap the preceding real body. The color of the star is not important. Stars can occur at tops or bottoms. Shooting star Description The Shooting Star is a single l ine pattern that indicates an end to the uptrend. It is easily identified by the presence of a small body with a shadow at least two times greater than the body. It is found at the top of an uptrend. The Japanese named this pattern because it looks like a shooting star falling from the sky with the tail trailing it. Criteria 1. The upper shadow should be at least two times the length of the body. 2. Prices gap open after an uptrend. 15 3. A small real body is formed near the lower part of the price range. The color of the body is not important although a black body should have slightly more bearish implications. 4. The lower shadow is virtually non-existent. 5. The following day needs to confirm the Shooting Star signal with a black candle or better yet, a gap down with a lower close. Signal enhancements 1. The longer the upper shadow, the higher the potential of a reversal occurring. 2. A gap up from the previous day’s close sets up for a stronger reversal move provided. 3. The day after the Shooting Star signal opens lower. 4. Large volume on the Shooting Star day increases the chances that a blow-off day has occurred although it is not a necessity. Pattern psychology During an uptrend, the market gaps open and rallies to a new high. The price opens and trades higher. The bulls are in control. But before the close of the day, the bears step in and take the price back down to the lower end of the trading ra nge, creating a small body for the day. 25 This could indicate that the bulls still have control if analyzing a Western bar chart. 16 However, the long upper shadow represents that sellers had started stepping in at these levels. Even though the bulls may have been able to keep the price positive by the end of the day, the evidence of the selling was apparent. A lower open or a black candle the next day reinforces the fact that selling is going on. Two candles pattern Bullish engulfing A â€Å"bullish engulfing pattern† consists of a large white real body that engulfs a small black real body during a downtrend. It signifies that the buyers are overwhelming the sellers Engulfing Bullish engulfing Description The Engulfing pattern is a major reversal pattern comprised of two opposite colored bodies. This Bullish Pattern is formed after a downtrend. It is formed when a large 17 white candlestick that completely eclipses the previous day candlestick follows a small black candlestick. It opens lower that the previous day’s close and closes higher than the previous day’s open. Criteria 1. The candlestick body of the previous day is completely overshadowed by the next day’s candlestick. 2. Prices have been declining definitely, even if it has been in short term. 3. The color of the first candle is similar to that of the previous one and the body of the second candle is opposite in color to that first candle. The only exception being an engulfed body which is a doji. Signal enhancements 1. A small body being covered by the larger one. The previous day shows the trend was running out of steam. The large body shows that the new direction has started with good force. 2. Large volume on  the engulfing day increases the chances that a blow off day has occurred. 3. The engulfing body engulfs absorbs the body and the shadows of the previous day; the reversal has a greater probability of working. 4. The probability of a strong reversal increases as the open gaps between the previous and the current day increases. Pattern psychology After a decline has taken place, the price opens at a lower level than its previous day closing price. Before the close of the day, the buyers have taken over and have led to an increase in the price above the opening price of the previous day. The emotional psychology of the trend has now been altered. When investors are learning the stock market they should utilize information that has worked with high probability in the p ast. Bullish Engulfing signal if used after proper training and at proper locations, can lead to highly profitable trades and consistent results. This pattern allows an investor to improve their probabilities of been in a correct trade. The common sense elements conveyed in candlestick signals makes for a clear and concise trading technique for beginning investors as well as experienced traders. Bearish engulfing A â€Å"bearish engulfing pattern,† on the other hand, occurs when the sellers are overwhelming the buyers. This pattern consists of a small white candlestick with short shadows or tails followed by a large black candlestick that eclipses or â€Å"engulfs† the small white one. Bearish Engulfing 18 19 Piercing The bullish counterpart to the dark cloud cover is the â€Å"piercing pattern.† The first thing to look for is to spot the piercing pattern in an  existing downtrend, which consists of a long black candlestick followed by a gap lower open during the next session, but which closes at least halfway into the prior black candlestick’s real body. Description The Piercing Pattern is composed of a two-candle formation in a down trending market. With daily candles, the piercing pattern will often end a minor downtrend (a downtrend that lasts between six and fifteen trading days). The day before the piercing candle appears, the daily candle should have a fairly large dark real body, signifying a strong down day. Criteria 1. The downtrend has been evident for a good period. 2. The body of the first candle is black; the body of the second candle is white. 3. A long black candle occurs at the end of the trend. 4. The white candle closes more than halfway up the black candle. 5. The second day opens lower than the trading of the prior day. Signal enhancements 1. The reversal will be more pronounced, if the gap down the previous day close is more. 2. The longer the black candle and the white candle, the more forceful the reversal. 3. The higher the white candle closes into the black candle, the stronger the reversal. 4. Large volume during these two trading days is a significant confirmation. Pattern psychology 20 The atmosphere becomes bearish once a strong downtrend has been in effect. The price goes down. Bears may move the price even further but before the day ends the bulls enters and bring a dramatic change in price in the opposite direction. They finish near the high of the day. The move has almost negated the price decline of the previous day. This now has the bears concerned. More buying the next day will confirm the move. Being able to utilize information that has been used successfully in the past is a much more viable investment strategy than taking shots in the dark. Keep in mind, when you are given privileged information about stock market tips, where you  are in the food chain. Are you one of those privileged few that get top-notch pertinent information on a timely manner, or are you one of the masses that feed into a frenzy and allow the smart money to make the profits? Bearish Harami In up trends, the harami consists of a large white candle followed by a small white or black candle (usually black) that is within the previous session’s large real body. Description Bearish Harami is a two candlestick pattern composed of small black real body contained within a prior relatively long white real body. The body of the first candle is the same color as that of the current trend. The open and the close occur inside the open and the close of the previous day. Its presence indicates that the trend is over. Criteria 1. The first candle is white in color; the body of the second candle is black. 2. The second day opens lower than the close of the previous day and closes higher than the open of the prior day. 3. For a reversal signal, confirmation is needed. The next day should show weakness. 4. The uptrend has been apparent. A long white candle occurs at the end of the trend. Signal enhancements 1. The reversal will be more forceful, if the white and the black candle are longer. 2. The lower the black candle closes down on the white candle, the more convincing that a reversal has occurred, despite the size of the black candle. Pattern psychology 21 The bears open the price lower than the previous close, after a strong uptrend has been in effect and after a long white candle day. The longs get concerned and start profit taking. The price for the day ends at a lower level. The bulls are now concerned as the price closes lower. It is becoming evident that the trend has been violated. A weak day after that would convince everybody that the trend was reversing. Volume increases due to the profit taking and the addition of short sales. Bullish Harami A candlestick chart pattern in which a large candlestick is followed by a smaller candlestick whose body is located within the vertical range of the larger body. In downtrends, the harami consists of a large black candle followed by a small white or black candle (usually white) that is within the previous session’s large real body. This pattern signifies that the immediately preceding trend may be concluding, and that the bulls and bears have called a truce. Description The Harami is a commonly observed phenomenon. The pattern is composed of a two candle formation in a down-trending market. The color first candle is the same as that of current trend. The first body in the pattern is longer than the second one. The open and the close occur inside the open and the close of the previous day. Its presence indicates that the trend is over. 22 The Harami (meaning â€Å"pregnant† in Japanese) Candlestick Pattern is a reversal pattern. The pattern consists of two Candlesticks. The first candle is black in color and a continuation of the existing trend. The second candle, the little belly sticking out, is usually white in color but that is not always the case. Magnitude of the reversal is affected by the location and size of the candles. Criteria 1. The first candle is black in body; the body of the second candle is white. 2. The downtrend has been evident for a good period. A long black candle occurs at the end of the trend. 3. The second day opens higher than the close of the previous day and closes lower than the open of the prior day. 4. Unlike the Western â€Å"Inside Day†, just the body needs to remain in the previous day’s body, where as the â€Å"Inside Day† requires both the body and the shadows to remain inside the previous day’s body. 5. For a reversal signal, further confirmation is required to indicate that the trend  is now moving up. Signal enhancements 1. The reversal will be more forceful if the black candle and the white candle are longer. 2. If the white candle closes up on the black candle then the reversal has occurred in a convincing manner despite the size of the white candle. Pattern psychology After a strong down-trend has been in effect and after a selling day, the bulls open at a price higher than the previous close. The short’s get concerned and start covering. The price for the day finishes at a higher level. This gives enough notice to the short sellers that trend has been violated. A strong day i.e. the next day would convince everybody that the trend was reversing. Usually the volume is above the recent norm due to the unwinding of short positions. When the second candle is a doji, which is a candle with an almost non-existent real body, these patterns are called â€Å"harami crosses.† They are however less reliable as reversal patterns as more indecision is indicated. 23 Doji Doji lines are patterns with the same open and close price. It’s a significant reversal indicator. The Importance of the Doji The perfect doji session has the same opening and closing price, yet there is some flexibility to this rule. If the opening and closing price are within a few ticks of each other, the line could still be viewed as a doji. How do you decide whether a near-doji day (that is, where the open and close are very close, but not exact) should be considered a doji? This is subjective and there are no rigid rules but one way is to look at a near-doji day in relation to recent action. If there are a series of very small real bodies, the near-doji day would not be viewed as significant since so many other recent periods had small real bodies. One technique is based on recent market activity. If the market is at an important market junction, or is at the mature part of a bull or bear move,  or there are other technical signals sending out an alert, the appearance of a near-doji is treated as a doji. The philosophy is that a doji can be a significant warning and that it is better to attend to a false warning than to ignore a real one. To ignore a doji, with all its inherent implications, could be dangerous. The doji is a distinct trend change signal. However, the likelihood of a reversal increases if subsequent candlesticks confirm the doji’s reversal potential. Doji 24 sessions are important only in markets where there are not many doji. If there are many doji on a particular chart, one should not view the emergence of a new doji in that particular market as a meaningful development. That is why candlestick analysis usually should not use intra-day charts of less than 30 minutes. Less than 30 minutes and many of the candlestick lines become doji or near doji Doji at tops A Doji star at the top is a warning that the uptrend is about to change. This is especially true after a long white candlestick in an uptrend. The reason for the doji’s negative implications in uptrend is because a doji represents indecision. Indecision among bulls will not maintain the uptrend. It takes the conviction of buyers to sustain a rally. If the market has had an extended rally, or is overbought, then formation of a doji could mean the scaffolding of buyers’ support will give way. Doji are also valued for their ability to show reversal potential in downtrend s. The reason may be that a doji reflects a balance between buying and selling forces. With ambivalent market participants, the market could fall due to its own weight. Thus, an uptrend should reverse but a falling market may continue its descent. Because of this, doji need more confirmation to signal a bottom than they do a top. What are support and resistance lines? Support and resistance represent key junctures where the forces of supply and demand meet. These lines appear as thresholds to price patterns. They are the respective lines which stops the  prices from decreasing or increasing. A support line refers to that level beyond which a stock’s price will not fall. It denotes that price level at which there is a sufficient amount of demand to stop and possibly, for a time, turn a downtrend higher. Similarly a resistance line refers to that line beyond which a stock’s price will not increase. It indicates that price level at which a sufficient supply of stock is available to stop and possibly, for a time, head off an uptrend in prices. Trend lines are often referred to as support and resistance lines on an angle. Support A support is a horizontal floor where interest in buying a commodity is strong enough to overcome the pressure to sell. Support level is the price level at which sufficient demand exists to, at least temporarily, halt a downward movement in prices. Logically as the price declines towards support and gets cheaper, buyers become more inclined to buy and sellers become less inclined to sell. By the time the price reaches the support level, it is believed that demand will overcome supply and prevent the price from falling below support. 25 Support does not always hold true and a break below support signals that the bulls have lost over the bears. A fall below support level indicates more willingness to sell and a lack of willingness to buy. A break in the levels of support indicates that the expectations of sellers are reducing and they are ready to sell at even lower prices. In addition, buyers could not be coerced into buying until prices declined below support or below the previous low. Once support is broken, another support level will have to be established at a lower level ITC showing support and resistance Resistance 26 A resistance is a horizontal ceiling where the pressure to sell is greater than the pressure to buy. Thus a Resistance level is a price at which sufficient supply exists to; at least temporarily, halt an upward movement. Logically as the price advances towards resistance, sellers become more inclined to sell and buyers become less inclined to buy. By the time the price reaches the resistance level, it is believed that supply will overcome demand and prevent the price from rising above resistance. Resistance does not always hold true and a break above resistance signals that the bears have lost over the bulls. A break in the resistance level shows more willingness to buy or lack of incentive to sell. Resistance breaks and new highs indicate that buyer’s expectations have increased and are ready to buy at even higher prices. In addition, sellers could not be coerced into selling until prices rose above resistance or above the previous high. Once resistance is broken, another resistance level will have to be established at a higher level. What Does a Technical indicator offer? Technical analysts use indicators to look into a different perspective from which stock prices can be analyzed. Technical indicators provide unique outlook on the strength and direction of the underlying price action for a given timeframe. Why use indicators? Technical Indicators broadly serve three functions: to alert, to confirm and to predict. Indicator acts as an alert to study price action, sometimes it also gives a signal to watch for a break of support. A large positive divergence can act as an alert to watch for a resistance breakout. Indicators can be used to confirm other technical analysis tools. Some investors and traders use indicators to predict the direction of future prices. Tips for using indicators There are a large number of Technical Indicators that can be used to assist you in selection of stocks and in tracking the right entry and exit points. In short, indicators indicate. But it doesn’t mean that traders should ignore the price action of a stock and focus solely on the indicator. Indicators just filter price action with formulas. As such, they are derivatives and not direct reflections of the price action. While applying the indicators, the analyst should consider:  What is the indicator saying about the price action of a security? Is the price action getting stronger? Is it getting weaker? The buy and sell signals generated by the indicators, should be read in context with other technical analysis tools like candlesticks, trends, patterns etc. For example, an indicator may flash a buy signal, but if the chart pattern shows a descending triangle with a series of declining peaks, it may be a false signal. An indicator should be selected with due care and attention. It would be a futile exercise to cover more than five indicators. It is best to focus on two or three 27 indicators and learn their intricacies inside and out. One should always choose indicators that complement each other, instead of those that move in unison and generate the same signals. For example, it would be redundant to use two indicators that are good for showing overbought and oversold levels, such as Stochastic and RSI. Both of these indicators measure momentum and both have overbought/oversold levels. Types of indicators Indicators can broadly be divided into two types â€Å"LEADING† and â€Å"LAGGING†. Leading indicators Leading indicators are designed to lead price movements. Benefits of leading indicators are early signaling for entry and exit, generating more signals and allow more opportunities to trade. They represent a form of price momentum over a fixed look-back period, which is the number of periods used to calculate the indicator. Some of the wellmore popular leading indicators include Commodity Channel Index (CCI), Momentum, Relative Strength Index (RSI), Stochastic Oscillator and Williams %R. Lagging Indicators Lagging Indicators are the indicators that would follow a trend rather then predicting a reversal. A lagging indicator follows an event. These indicators work well when prices move in relatively long trends. They don’t warn you of upcoming changes in prices, they simply tell you what prices are doing (i.e., rising or falling) so that you can invest  accordingly. These trend following indicators makes you buy and sell late and, in exchange for missing the early opportunities, they greatly reduce your risk by keeping you on the right side of the market. Moving averages and the MACD are examples of trend following, or â€Å"lagging,† indicators. Oscillators Relative Strength Index (RSI) The RSI is part of a class of indicators called momentum oscillators. There are a number of indicators that fall in this category, the most common being Relative Strength Index, Stochastic, Rate of Change, Williams %R. Although these indicators are all calculated differently, there are a number of common elements to their use which shall be discussed in the context of the RSI. What is momentum? Momentum is simply the rate of change – the speed or slope at which a stock or commodity ascends or declines. Measuring speed is a useful gage of impending change. For example, assume that you were riding in a friends’ car, not looking at what was happening ahead but instead just at the speedometer. You can see when the car starts to slow down and if it continues to do so you can reasonably assume it’s going to stop very shortly. You may not know the reason for it coming to a stop†¦it 28 could be the end of the journey, approaching and intersection or because the road is a little rougher ahead. In this manner watching the speed provides a guide for what may happen in the future. An oscillator is an indicator that moves back and forth across a reference line or between prescribed upper and lower limits. When an oscillator reaches a new high, it shows that an uptrend is gaining speed and is likely to continue. When an oscillator traces a lower peak, it means that the trend has stopped accelerating and a reversal can be expected from there, much like a car slowing down to make a U-Turn. In the same way watching a stock for impending momentum change can provide a glimpse of what may happen in the future – momentum oscillators, such as RSI are referred to as trend leading indicators. The chart below illustrates the typical construction of the RSI which oscillates between 0% and 100%. You will notice there is a pair of horizontal reference lines: 70% ‘overbought’ and 30% ‘oversold’ lines. The overbought region refers to the case where the RSI oscillator has moved into a region of significant buying pressure relative to the recent past and is often an indication that an upward trend is about to end. Similarly the oversold region refers to the lower part of the momentum oscillator where there is a significant amount of selling pressure relative to the recent past and is indicative of an end to a down swing. Application of RSI RSI is a momentum oscillator generally used in sideways or ranging markets where the price moves between support and resistance levels. It is one of the most useful technical tool employed by many traders to measure the velocity of directional price movement. Overbought and Oversold The RSI is a price-following oscillator that ranges between 0 and 100. Generally, technical analysts use 30% oversold and 70% overbought lines to generate the buy and sell signals. ïÆ'Ëœ Go long when the indicator moves from below to above the oversold line. ïÆ'Ëœ Go short when the indicator moves from above to below the overbought line. Note here that the direction of crossing is important; the indicator needs to first go past the overbought/oversold lines and then cross back through them. 29 Silver Chart showing buy and sell points and also the failure in trending market What is the MACD and how is it calculated? The MACD does not completely fall into either the trend-leading indicator or trend following indicator; it is in fact a hybrid with elements of both. The MACD comprises two lines, the fast line and the slow or signal line. These are easy to identify as the slow line will be the smoother of the two. NIFTY chart below illustrates the basic MACD lines The procedure for calculating the MACD lines is as follows: Step1. Calculate a 12 period exponential moving average of the close price. Step2. Calculate a 26 period exponential moving average of the close price. Step3. Subtract the 26 period moving average from the 12 period moving average. This is the fast MACD line. Step4. Calculate a 9 period exponential moving average of the fast MACD line calculated above. This is the slow or signal MACD line. Sampling Plan The companies are selected from top 50 blue chip companies, and then fundamental analysis is done and then the technical analysis Limitations As we know that equity market is highly unpredictable and its really hard to predict the future trend of the equity so all the analysis that is done just gives the high probability of the trend that is going to happen, it does not give any surety. 30 CHAPTER 3: FINDINGS AND ANALYSIS 3.1 Findings Fundamental Analysis 31 Technical Analysis SBI SBI-I 32 SBI –II Chart SBI-I shows different support and resistance level for last two years. Chart SBI-II shows the morning star which is encircled. 33 JINDAL STEEL The above chart shows inverted hammer with DOJI. 34 VOLTAS The above chart shows two inverted hammer. 35 BHEL The above chart shows inverted hammer with bullish candle. 36 HPCL The above chart shows DOJI. 37 3.2 Analysis Fundamental Analysis As we have analyzed from the list of companies on basis of fundamental grounds. It tells us the company on which we should invest. The companies are:- SBI 38 From the above figures one can come to following conclusion:ïÆ' ¼ As a company should have high EPS and so is the case with SBI whose EPS is 256.11 ïÆ' ¼ Its P/E ratio is relatively lesser than other companies ïÆ' ¼ Positive PEG is a good sign. ïÆ' ¼ P/B is less than 1 which says it is undervalued so its high time to buy shares of this company. ïÆ' ¼ And on other grounds it has fair figures. BHEL From the above figures one can come to following conclusion:ïÆ' ¼ EPS is relatively high as compared to its per share price. ïÆ' ¼ Low P/E and P/S ratio which is always good. ïÆ' ¼ Good dividend payout ratio, dividend and return on equity. HPCL From the above figures one can come to following conclusion:ïÆ' ¼ EPS is relatively high as compared to its per share price. ïÆ' ¼ Its P/E ratio is relatively lesser than other companies ïÆ' ¼ P/B value is lesser which gives a clear indication that the prices will rise in future. ïÆ' ¼ Dividend is relatively higher. Technical analysis On the basis of technical analysis one can come to the following conclusion:SBI From the chart SBI-II its seen that there is formation of morning star which is a sign of trend reversal. And from here it is expected that it will go bullish. We can also see that RSI is in upward direction which indicates that it will go bullish and even MACD is in favor of bullish nature. So it is very strongly recommended that one should invest in this share and should hold as long as there is a sign of trend reversal. JINDAL STEEL As from the chart we have seen that inverted hammer has occurred long before followed by bullish candle which was the sign of buying but not it has reached to such a level at which it can reverse anytime. The RSI is also high and MACD can anytime go for selling indication. 39 VOLTAS From the chart of Voltas it is very clearly indicated that there are two inverted hammer and the hammer is followed by a green candle and thus we can say it has taken the bullish trend. We can also see that RSI is in upward direction which indicates that it will go bullish and even MACD is in favor of bullish nature. So it is very strongly recommended that one should invest in this share and should hold as long as there is a sign of trend reversal. BHEL From the chart of Bhel it is very clearly indicated that there is a inverted hammer followed by a green candle and thus we can say it  has taken the bullish trend. We can also see that RSI is in upward direction which indicates that it will go bullish and even MACD is in favor of bullish nature. So it is very strongly recommended that one should invest in this share and should hold as long as there is a sign of trend reversal. HPCL From the chart of HPCL there is formation of a DOJI candle which is one of the strongest sign o f trend reversal and for bullish trend to come in. We can also see that RSI is in upward direction which indicates that it will go bullish and even MACD is in favor of bullish nature. So it is very strongly recommended that one should invest in this share and should hold as long as there is a sign of trend reversal 40 CHAPTER FOUR: CONCLUSIONS AND RECOMMENDATIONS 4.1 SUMMARY This project is being done to construct portfolio of clients with the help of fundamental and technical analysis. Also analyze their portfolio by valuating those companies where they have already invested using specific valuation model. Then find out whether it is right time to invest in those companies using technical analysis. Also calculating the returns they are getting and suggest for higher return. As we can see we have come up with certain companies which have strong possibilities to do well. The different tools and indicators play a very vital role in analyzing the companies as well as forecasting their price behavior. 4.2 RECOMMENDATIONS AND CONCLUSION Recommendations The final portfolio that I came up with is 1. SBI 2. JINDAL STEEL 3. VOLTAS 4. BHEL 5. HPCL Conclusion In this project we have found out that both the analysis fundamental and  technical analysis can be used for the same purpose as to build a portfolio but they and completely different. One should not try to relate these two analysis with each other as it could lead to blunder. Both of the analysis are independent of each other. Both the analysis just gives a possibility that which option one should go for in case one wants to invest. It doesn’t confirms the result as they are just expected result.