Investment theory and property diversification Essay

Investment theory and property diversification - Essay Example The purpose of having all four-asset classes represented in your portfolio is to take advantage of the different strengths of each class. However, stocks are grouped together because they would, as a group, react more alike than any of the other three classes. The same thing is true for the other three classes. Many people use Real Estate Investment Trusts and other liquid investments to satisfy the real estate leg of the asset class tool. The term investment closely relates the meanings in business management, finance and economics, related to saving or deferring consumption. People usually purchase an asset or equivalently a deposit is made in a bank, in the expectation of getting a future return or interest from it. An investor distributes his investments among various classes of investment vehicles (e.g., stocks and bonds) I order to capitulate the cycle of market potentiality. When a portfolio has an active risk, then, we treat it as the annualized standard deviation of the mont hly difference between portfolio return and benchmark return. Thus, an active risk of x per cent would mean that approximately 2/3rd of the portfolio's returns (one standard deviation from mean) can be expected to fall between +x and -x per cent of the mean excess return. It may be calculated as a realized or ex post number or as a forward, ex ante, or predicted, number (usually based on a multifactor model defining the co-variance relationships between each pair of securities in the current portfolio). In case of national investment, the theory goes one-step ahead to merge into diversified areas of productivity. CLASSIFICATION OF ASSETS: THE OBJECTIVITY The best-performing asset varies from year to year and is not easily predictable to calculate the returns in a market movement. Therefore having a mixture of asset classes is more likely to meet our goals. A more fundamental justification for asset allocation is the notion that different asset classes offer non-correlated returns, hence, diversification reduces the overall risk in terms of the variability of returns for a given level of expected return. Academic research has painstakingly explained the importance of asset allocation, and the problems of active management. This explains the steadily rising popularity of passive investment styles using index funds; cash via money market accounts for instance. Bonds procure high yield in government or corporate; short-term, intermediate, long-term; domestic, foreign, emerging markets. Similarly, stocks add value with large-cap versus small-cap; domestic, foreign, emerging markets in case of real estate. Economists refer to a real invest ment such as a machine or a house, while financial economists refer to a financial asset, such as money that is put into a bank or the market, which may then be used to buy a real asset. In real estate, investment is money used to purchase property for the sole purpose of holding or leasing for income and where there is an element of capital risk. Many investors and analysts try to identify whether a market or security is in a profit or loss phase to generate trading strategies to exploit

No Work, No Food :: essays research papers

"No Work, No Food† 83 Hyakujo, the Chinese Zen master, used to labor with his pupils even at the age of eighty, trimming the gardens, cleaning the grounds, and pruning the trees. The pupils felt sorry to see the old teacher working so hard, but they knew he would not listen to their advice to stop, so they hid away his tools. That day the master did not eat. The next day he did not eat, nor the next. â€Å"He may be angry because we have hidden his tools,† the pupils surmised. â€Å"We had better put them back. The day they did, the teacher worked and ate the same as before. In the evening he instructed them: â€Å"No work, no food.† In life, people take many things for granted, whether it is how we play with our children, or what kind of job we do, or just simply having fun. For the older generation, taking things for granted wasn’t an option. In this simple passage, trying to convince someone to take it easy proved to be a very valuable lesson for some youngsters. When life gets to ruff, normally we tend to slow down a bit. Often the younger generation, healthy and strong, perceives that the older generation should take it easier than normal. However, in China, the Chinese Zen master doesn’t seem to fit this scenario. They seem to carry the philosophy that each carries their own weight no matter what the consequence. The younger pupils felt the Master was working extremely to hard and knew that he would not to a break. Having this information, they concocted a plan to hide his work tools so he would have no choice but to take a break. As the day slowly elapsed into darkness, they realized the Zen master hadn’t eaten. This carried into the 3rd day and finally the pupils felt he was angry so they returned them to their original place and that evening, they noticed the master eating again.

Automotive E-Coat Paint Process Simulation Using FEA

By applying an electrical current, a thin paint film forms veer all the surfaces in contact with the liquid, including those surfaces in recessed portions of the body. The E-coat paint process deposits a thin paint film on the automotive body under the influence of a voltage gradient of about 200 to 300 volts. The water-based E-coat paint bath is conductive with an array of anodes that extends into the bath delivering a DC current. The paint film that forms has physical properties that resist corrosion (these appear only after the automotive body has been cured in an oven).However, as the paint film forms, its electrical resistance increases. In the past several years, two-dimensional (2-D) FEE models of the E-coat paint process have been developed for specific or limited applications. In this paper, we discuss a general three-dimensional (3-D) FEE method using ALGER software. This method can simulate the formation of the E-coat film and can thus predict its thickness at any point on the surface of the automotive body.Operational variables, such as voltages and process duration, are used to simulate the time-dependent interaction among the automotive body, the increasing paint layer and the liquid thin the E-coat bath. The method is based on a quasi-static technique that accounts for the changing material properties of the paint layer. A quasi-static approach is appropriate because the time required for the electric field to be established is much smaller than the duration of the paint deposition process.The actual time is simulated by considering a series of time steps, each of which requires an electrostatic solution. The E-coat film thickness is updated during each time step. A primary concern is how to model the changing FEE geometry due to the growth of the E-coat film. Technology has been developed that is capable of generating a film of specified thickness (as a function of position) on the automotive body. Because of symmetry along the longitudinal axis of the automotive body, only half the body was modeled.In addition, an enclosing box was constructed around the automotive body and features were created for the possible anode locations. Generally, there is little electrical interaction between two adjacent automotive bodies. Any net electrical current that flows into the leading and trailing surfaces of the enclosing box is considered negligible. The space between the outside of this box and the automotive body will be considered as the E-coat paint bath. Furthermore, the growth of the E- coat film is assumed to be perpendicular to the surface of the automotive body at all times.Laboratory experiments can establish an accurate estimate of the deposition coefficient of the E-coat film that forms in response to the flow of electrical current. The result of interest is the flow of DC electrical current that causes the E-coat film to form. The growth of the E-coat film is dependent on the number of Coulombs that are levered. In each iteration, the FEE model is solved for electrical current flow from which the E-coat film thickness can then be calculated. The material properties for each of the elements where the E-coat film develops are also changed in response to the growth in the E-coat film thickness.Another feature of a typical automotive E-coat paint system is the use of multiple voltage zones and differing locations where the anodes are placed in the E-coat bath. These factors affect the application of voltages in the FEE model. The appropriate voltage values must be added or updated for each new iteration as required. The primary use of the method is to predict how, as the paint layer forms, the effective electrical resistance increases, which prompts the current to seek out less resistive paths.Even though the paint film that forms has drastically reduced conductivity compared to the surrounding E-coat paint bath, it is not enough to stop its continued growth past the optimum thickness which is generall y about 25 p. A 3-D FEE model of the E-coat paint process would not only help he designers of a new automotive body obtain a more uniform paint distribution, but could be advantageous to existing assembly plants, as they explore means to reduce costs as well as make improvements to existing designs.It is well known that the layout of the anodes and the automotive body have a significant impact on the overall electrical resistance of the system, and thus the amount of current that must be delivered. In some circumstances, assembly plants are faced with the challenge of obtaining an adequate E-coat paint thickness on exposed parts of the automotive odd, while avoiding an insufficient thickness in recessed regions.The standard solution is to increase the overall voltage, which results in greater energy and material costs. The resulting E-coat paint thickness achieved on the exposed parts of the body is particularly costly because it provides for no additional corrosion protection. Usin g the method discussed in this paper, engineers can perform a variety of optimization exercises without incurring the high costs or risks of making operational modifications to the existing E-coat paint process at an assembly plant.

Snakes of Time in Dantes Hell Essay - 1314 Words

Their throats are open graves; their tongues practice deceit† (Romans 3:13). Snakes have been a universal symbol of fraud in literature since â€Å"The Fall,† when God transformed Satan into a beguiling snake and â€Å"[c]ursed† Satan to slide â€Å"on [his] belly† for all eternity for his deception (Alter 41). Dante uses snakes in his epic poem, the Inferno, to tie the fraudulent nature of thieves to their punishment in the seventh bolgia of the eighth circle of Hell. Snakes have metaphorically slithered through time and shed, taking on new appearances as deceivers in society. In 2005, they revealed a new face, Olatunji Oluwatosin, an identity thief. From his base in Los Angeles, Olatunji Oluwatosin stole private information, such as credit card†¦show more content†¦Decker arranged a sting operation to catch this culprit. Caught in this operation, Oluwatosin â€Å"dropped the paperwork he had just received† in terror and was taken to the L os Angeles Country Superior Court, where he received an appropriate punishment of â€Å"ten years in prison† under charges of identity theft (O’Harrow, Mimoso). Similarly, Dante’s Inferno forces the â€Å"naked and terrified† thieves to run from venomous snakes with their â€Å"hands behind their backs,† â€Å"without a hope of hiding† (Alighieri 251). The thieves who once were concealing themselves are now exposed. Moreover, with Oluwatosin’s numerous stolen identities, his crimes resemble the â€Å"chelydri and jaculi, phareans, cenchres, and head-tailed amphisbenes† of Libya (251). Oluwatosin assumed these identities to camouflage himself, much as snakes do in their environment. However, once apprehended, both the thieves of Dante’s fourteenth century Italy and today’s society must endure punishment. As the United States court system sentenced Oluwatosin to ten years in prison, Dante Alighieri arranges a more e xtreme punishment, where snakes â€Å"thrust† between the legs of sinners and form a â€Å"knot† in the groin (253). This punishment illustrates the idea of contrapasso, or a fitting punishment. Oluwatosin’s life of crime tied a knot of confinement since his former self could never be restored and his rights were limited in prison. Furthermore, the punishment reveals theShow MoreRelatedThe Influence of Dantes Inferno Essay1380 Words   |  6 PagesAlighieri’s Divine Comedy is an epic poem that begins with the Inferno. The Inferno is an extremely influential part of European literature. The structure of story is for many people a piece of the vision of Hell. Religiously, this poem has had great prevalence. Dante paints a picture of the Hell that is both unsettling and justifiable. A whole world is created through his poem. The levels and intensity of sin is pondered. Crime is put to a level of small to large scale. Those that are intentional andRead M oreDantes Beasts2989 Words   |  12 PagesThe Beasts and Monsters in Dantes Inferno   The Inferno is the first section of Dantes three-part poem, The Divine Comedy. Throughout Dantes epic journey into the depths of Inferno he encounters thirty monsters and five hybrid creatures.   The most significant of these monsters are of central importance to his journey and to the narrative, as they not only challenge  Dantes presence in Inferno, but are custodians of Hell, keeping in order or guarding the perduta gente.   In this essay I am concentratingRead MoreEssay on Dantes Inferno and Classical Mythology1823 Words   |  8 PagesDante’s descent into Hell in Inferno, the first part of his Divine Comedy, tells of the author’s experiences in Hades as he is guided through the abyss by the Roman author, Virgil. 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Though some doubted, they all listened to Jesus say that he would be with them until the end of time. ï‚ § Commentary: I feel this section of the Bible is fortunately only known for its positives, rather than its negatives. Jesus had been reborn and it was a true miracle. The beauty of the situation is his rebirth isn’t something that everyone had toRead MoreEssay on Is Satan the Epic Hero in Paradise Lost?2123 Words   |  9 Pageslittle children. God does no wrong and is incapable of committing a sin; He is a picture perfect being. Satan is God’s archenemy and polar opposite, he’s popularly known for his evil ways and the fiery inferno that he inhabits, described in the book Dante’s Inferno. Rarely do people confuse the idea that God is the hero and Satan is the evildoer that needs to be extinguished from the world. 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