...CHAPTER 30 1500 B.C China had a complex society. 60 B.C Han empire. Europeans began to arrive in the 1500 and 1600s. Asian countries restricted movement of western traders. Netherlands conquered Indonesia. Many European nations and the U.S caused Asian countries to open trade. 1868 Japan had a new government. 1940 conquered Korea, Taiwan. WW2 U.S liberated. 1949 nationalist fled to Taiwan. !960 former Europeans gained independence. 1990 has some capitalist reforms. PHYSICAL: Eurasian and Indian plate colliding causes; Himalaya Mts, Plateau of Tibet, the Kunlun Shun, Atlun Shun, and the Tien Shun. Volcanic islands form the Ring of Fire. Mekong River has curved valleys through the highlands. Australia is largely arid. CLIMATES: Cities in the tropics have seasonal temperatures. Temperate coastal locations. South of the equator monsoons peak in January. Peak in July. Heavy downpours. ECOSYSTEMS: Coniferous forests in the north, mountains, mid-latitude forests of deciduous trees. In rainforests high rainfall and temperatures and the forest in Malaysia. Line coasts of northern Australia and E and SE Asia. Grasslands in China and Mongolia. E Asia and Australia, and New Zealand have deciduous forests. Bears and monkeys. PEOPLES AND CULTURES: 2 billion people. China has over 1 billion people. North central plains, Southern coast of East China, and in the Yangtze River. Australia is spaced. Great cultural diversity. 3/4s of the population is rural. 85 of Australians are in...
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...Interesting post. While agree with specific points in your discussion, there are a few that I disagree with. With the largest capital reserves in the world, People's Republic of China is a credible threat on numerous fronts, however; PRC is only an emerging regional power with a fragile economy. At the same time, the threat that PRC poses is somewhat exaggerated by our own Congress. The war hawks on capitol hill, namely the neo-conservatives, are notorious for ensuring that the U.S. always has a credible enemy or rival (PRC is not yet an enemy)...and if one is not emerging on the horizon, then one will be "created". This has alot to do with insuring that the Military Industrial Complex (MIC) continues to thrive. The MIC accounts for more than 42% of global military sales. With that being said, PRC of course looks like an 800 pound gorilla, but the country has some mounting weakness that will begin to compound over time, and will invariably threaten PRC's economic & social reform programs...which could lead to numerous fault lines within its own borders. 1. PRC is an export economy: With the global recession still in full stride, the unemployment rate between the G8 and BRIC-M countries is hovering at approximately 8%. The rates are vastly more dismal for the rest of the world (CIA World Factbook). Therefore, the global demand for Chinese manufactures has declined dramatically, thereby, leading to the layoff of tens of millions of Chinese citizens. If the country’s...
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...Environmental problems facing Mongolia include desertification, inadequate water supply, and air and water pollution. The presence of the Gobi Desert in the southeastern part of the country and mountains in the northwest provide natural limits to the amount of agricultural land. Areas affected by deforestation and excessive grazing are eventually overtaken by the desert. Water pollution is a particularly significant problem in Mongolia because the water supply is so limited. The country has only 34.8 cubic kilometers of renewable water resources, 53% of which are used for farming. In 2000, only 77% of city dwellers and 30% of the people living in rural areas had access to pure water. The country's air pollution problems are due to increased industrial activity within the country, including the burning of soft coal, and airborne industrial pollution from the former Soviet Union and the People's Republic of China. The heavy concentration of factories in Ulaanbaatar has polluted the environment in that area. Przewalski's horse, the Bactrian camel, the snow leopard, and the saiga are among 12 mammals and 14 birds which are considered endangered. The Mongolian wild horse has become extinct in the wild. After a winter of little snow, wildfires spread across northern Mongolia from March until June of 1996. The fires were the most extensive since records were first compiled in 1978, resulting in 26 deaths and nearly 800 people injured or rendered shelterless. An estimated...
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...in the Nike Team Nationals California Region rankings. Read More Far Ahead El Rancho High School opened its 2005 season in promising fashion, delivering a 33-14 win Friday over Cerritos at Gahr High School.The victorious Dons enjoyed a productive night on the ground, rushing for 163 total yards. Mike Perez led the way with 83 yards on 16 carries. Read More In the Desert UKHAA TOLGOD, Mongolia - On the first afternoon here, fossil hunters struck out across the parched sand to the rock outcrops along the bleached brown ridges and down into the broad basin. They walked their separate courses at paces as if set to geologic time. With every step, their figures diminished into the expanse of empty silences and far horizons that is the Gobi Desert, where only camels, nomads and hardy paleontologists seem at home. Read More The Fall Season "Supernatural," on WB, is genuinely scary. But there are half a dozen other...
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...Gobilab Gobi is created to provide individuals, businesses, communities, attractive and sustainable alternative to disposable cups and bottles. 2 billion cups are thrown away each year in the office in France only for water ( and additional $ 2 billion for coffee) , each employee uses an average of 650 cups per year. Only 1% of these cups is recycled , the rest is incinerated. Gobi is the first reusable and customizable specially designed for the office and everyday life bottle. Eco- designed and manufactured in France , its design and customization system break with the codes of traditional gourd to remove the barriers to adoption in urban areas and make it a direct competitor disposable solutions . .Gobi is aimed at companies and more generally to all employers to replace disposable cups but also to all individuals who live in areas where tap water is of good quality. By its design and mobilization system , Gobi to attract and convert a population exceeding that of belief . Gobi is a proposal to change the mode of consumption of disposable to reusable carrying the following objectives: bring a population that exceeds convinced reduce and abandon the use of disposable cups and bottles and educate people who do not question their habits to the problem of disposable and its consequences . Since the inception of the company in June 2010, the Gobi was distributed to 28,000 people ( end December 2012). Economical: Customization : There is small in the middle of the...
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...Mongolia’s economic development as an essential resource for industries such as the mining sector, which has driven the country’s economic growth. Water quantity and quality is also becoming a problem increasingly in the capital Ulaanbaatar. With nearly 50 percent of the population living in Ulaanbaatar, ensuring that there is sufficient and safe water for everyone is a challenge. Water resources of Mongolia are highly vulnerable to climatic conditions. Mongolia has harsh continental climate with four distinctive seasons, high annual temperature fluctuations, and low rainfall. As a result of climate change, hundreds of Mongolia’s lakes and rivers have dried up, and there is significant desertification of land especially in the south around the Gobi desert. Providing a clean supply of drinking water across the entire country is a difficult challenge – beginning with the need to lay freeze-proof water pipes over an area of 1.5 million square kilometers. We should teach children to turn off faucets tightly after use, adjust sprinklers to water your lawn.We have to use high quality water to prevent from some diseases.The most important thing is government have to implement project of water quality and...
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...Market Funds 2012 The World Behind Fitch’s MMF Ratings by Charlotte Quiniou, CFA, Director in Fitch Ratings Fund and Asset Manager Rating Group Fitch money market fund (MMF) rating is far more than just a stamp on a fund. Its value for investors comes from the depth and breadth of the underpinning rating analysis and process. A key component of a Fitch MMF rating is also the regular, independent surveillance performed by Fitch’s analysts, which supports ongoing dialogue with fund managers, so that systematic mechanical reactions are avoided. To better serve investors, Fitch provides information on rated MMFs and developments in the money market industry, notably based on MMF surveillance information, through freely available periodic publications and online tools. A Disciplined procedures ensure consistency Fitch conducts analysis and assigns ratings on MMFs following a consistent, disciplined process that is applied globally. The diagram in Figure 1 provides a summary view of the major steps followed by Fitch when assigning or reviewing a MMF rating. At the start of the rating process, each MMF is assigned to a group of two analysts: the primary (or lead) analyst, and the secondary (or back-up) analyst. Analysts are responsible for leading the analysis and formulating a rating recommendation. The primary analyst is typically responsible for the continuous surveillance of the rating, once it has been assigned, and maintaining the dialogue with the fund manager...
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...Rae Bock started Bock Investment Services (BIS) in 1994 with the goal of making BIS the leading money market advisory service in South Carolina. To provide better service for her present clients and to attract new clients, she has developed a weekly newsletter. Lisa has been considering adding a new feature to the newsletter that will report the results of a weekly telephone survey of fund managers. To investigate the feasibility of offering this service, and to determine what type of information to include in the newsletter, Lisa selected a sample random sample of 45 money market funds. The Data File “Bock”, reports fund assets and yields for the past seven and 30 days. Before calling the money market fund managers to obtain additional data, Lisa decided to do some preliminary analysis of the data already collected. Managerial Report 1. Use appropriate descriptive statistics to summarize the data on assets and yields for the money market funds. 2. Develop a 95% confidence interval estimate of the mean assets, mean 7-day yield, and mean 30-day yield for the population of money market funds. Provide a managerial interpretation of each interval estimate 3. Discuss the implication of your findings in terms of how Lisa could use this type of information in preparing her weekly newsletter. 4. What other information would you recommend that Lisa gather to provide the most useful information to her clients? (This case problem is due to Anderson, Sweeney, and Williams for...
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...Investment Funds and Securities Bloomberg Exercises 1. Learn about the different types of funds and their classifications by going to the Bloomberg’s FUND screen: FUND <Enter>; click “Fund Functions” and “Fund Lookup”; or enter MFOD and click type: Equity, Debt, Money Market, Real Estate, Commodity, or Alternative. 2. The performances of funds by type (e.g., mutual, hedge fund, ETFs, and unit investment trust) can be found on the Fund Heat Map Screen, FMAP. Use the screen to identify the top performers based on total return for several types: FMAP <Enter>, Click “Fund Type” in “View By” dropdown. 3.) alternative) can be found on Bloomberg’s Fund Heat Map Screen, FMAP. Use the screen to identify the top performers based on total return for several objectives: FMAP <Enter>, Click “Objective” in “View By” dropdown. 4. Use the Bloomberg fund search screen, FSRC, to search for the following types of equity-type funds and ETFs: a. Fund Type: Open-End; Classification (Asset Class Focus): Equity; Fund Strategy: Growth or Growth and Income; Analytic criterion: Input total return for one year of greater than X% (e.g., 20%) b. Fund Type: Closed-End; Classification (Asset Class Focus): Equity; Country of Domicile: select (e.g., U.S.); Analytic criterion: input total return for one year of greater than X% (e.g., 20%) c. Fund Type: Open-end; Classification: Industry Focus: Select industry (e.g., technology); Analytic criterion: input total return for one...
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...and investment trusts. Firstly, it will shortly introduce the definitions of two different funds, then after identifying the main difference between them, it will talk about the advantages and disadvantages for each other. Finally, it will come up with a conclusion. Unit trusts and investment trusts are two types of funds that people can invest in as a private investor in the world. They together form the very fundamental way of how funds operate. Unit trusts are‘open-ended’funds, which means that the size of the fund and the number of units depends on the amount of money investors put into the fund.(Arnold,2012:30) Moreover unit trust fund is an investment scheme where money from many investors is pooled together for collective investments, and is invested towards a specified goal as stated in the investment objective of the fund.(Fig1.1) (ambmutual.com) Arnold(2012) also claimed that investment trusts differ from unit trusts-they are companies able to issue shares and other securities rather than units. Investors can purchase these securities when the investment company is first launched or purchase shares in the secondary market from other investors. These are known as closed-end funds because the company itself is closed to new investors – if you wished to invest your money you would go to an existing investor to buy shares and not buy from the company. An open-end fund does not restrict the amount of shares that can be issued or redeemed at any time. Usually,...
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...management are the two classes in which the investment strategies are categorized. Active management is whereby financial professionals try to outperform a specific benchmark. Passive funds like the exchange traded funds (ETFs) are whereby the index is tracked with no active stock selection (Barr, 2009). The risk of a failing a benchmark or index can be reduced through passive investment. Passive investment also reduces the cost. The active investment has the potential of boosting returns through outperforming some benchmarks. However, there are increased risks and also there are no guarantees that the benchmarks will be exceeded or matched. In a well-diversified portfolio, active and passive investment can flourish. The role of ETFs which is an important building block for dynamic and diverse portfolios is to offer access to equities and fixed income across large developed economies and the emerging markets. ETFs can be traded like share, thus similar liquidity is offered hence it allows the investor to adjust to their portfolios. In the context of investors’ specific objective, active management allows risks to be managed properly (Barr, 2009). Passive funds don’t neutralize risks, but they introduce benchmark risks and concentrated risks to investors and in relation to exchange-traded fund. The concept of market efficiency holds that there can be no over-valued or under-valued securities because of the market factors of discount which at all times influence the pricing of...
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...management are the two classes in which the investment strategies are categorized. Active management is whereby financial professionals try to outperform a specific benchmark. Passive funds like the exchange traded funds (ETFs) are whereby the index is tracked with no active stock selection (Barr, 2009). The risk of a failing a benchmark or index can be reduced through passive investment. Passive investment also reduces the cost. The active investment has the potential of boosting returns through outperforming some benchmarks. However, there are increased risks and also there are no guarantees that the benchmarks will be exceeded or matched. In a well-diversified portfolio, active and passive investment can flourish. The role of ETFs which is an important building block for dynamic and diverse portfolios is to offer access to equities and fixed income across large developed economies and the emerging markets. ETFs can be traded like share, thus similar liquidity is offered hence it allows the investor to adjust to their portfolios. In the context of investors’ specific objective, active management allows risks to be managed properly (Barr, 2009). Passive funds don’t neutralize risks, but they introduce benchmark risks and concentrated risks to investors and in relation to exchange-traded fund. The concept of market efficiency holds that there can be no over-valued or under-valued securities because of the market factors of discount which at all times influence the pricing of...
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...23 1. Mutual funds are attractive to small investors because they are able to diversify their portfolio for a minimum investment of $250 to $2,500 (p. 609). The investors must rely on the fund’s portfolio manager to make the investment decisions though. Mutual funds generate returns in three ways: through dividend payments to shareholders, distribute capital gains resulting from the sale of securities within the fund, and through mutual fund share price appreciation (p. 611). 2. Open-end mutual funds differ in the fact that they are open to investors which means they will sell shares to investors at any time (p. 609). They also allow investors to sell the shares back to the fund at any time which closed-end cannot (p. 609). 3. Load funds are promoted by registered representatives of brokerage firm, who earn a sales charge upon the investments in the fund between 3 and 8.5 percent (p. 615). No-load funds are promoted strictly by the mutual fund of concern, thereby avoiding an intermediary (p.615). 6. The ideal mutual fund for investors who wish to generate tax-free income and a low degree of risk would be a short-term municipal bond fund (p.620). 9. If the mutual fund distributes at least 90 percent of its income to its shareholders, the fund itself is exempt from federal taxation (p.625). 11. Money market funds differ from other types of mutual funds based on the composition, maturity, and risk of their assets (p. 625). The most common money market funds are commercial...
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...ARTICLES BY AUTHOR Superior performance has helped Neuberger Berman survive and thrive since the Lehman Brothers bankruptcy. Neuberger Berman was knocked around more than most asset managers in the treacherous seas of the 2008 financial crisis. The 73-year-old firm had only recently been lashed to Lehman Brothers when the investment bank foundered and ultimately failed. Buyout firms proposed a lifeline, but they fell short as the financial crisis deepened, leaving Neuberger's leaders to improvise an employee buyout during the most punishing financing environment in memory. Yet, four years later, Neuberger is freshly invigorated and focused on the essentials in the way disaster survivors tend to be. Its business is in sturdy condition, its fund performance is outpacing most peers and its strong investment culture has been affirmed. If the new Neuberger is in some ways "a $200 billion start-up," as one executive characterizes it, it is also one of the country's premier and most deeply rooted asset managers. Roy Neuberger, a founding partner and guiding force of the firm, died just two years ago, at the age of 107. Until he was nearly 100, he came into the office every day. For all the drama Neuberger has undergone in the past 15 years -- going public in 1999 after 60 years as a partnership, being absorbed by Lehman in 2003 and then set adrift five years later -- Neuberger is in some ways now much closer to the firm that Roy Neuberger ran than it has been in years, with its focus...
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...The Mutual Fund At a basic level, mutual funds are nothing more than a collection of stocks and bonds. A mutual fund primarily focuses on bringing groups of people together to invest their money into bonds, stocks, and other different securities. It’s important to know that each of these gathered investors owns shares that ultimately make up a portion of the holdings in the total fund. Once a person invests into these stocks, bonds, or securities through the mutual fund they can make money in three different ways. One being if the fund sells a security that increases in price then it has a capital gain. If a capital gain occurs then most funds forward these gains to investors in a distribution. Another way investors make money through mutual funds is if fund holdings’ price rises but is not sold by the fund manager. The fund’s shares increase and one can sell their mutual fund shares for a profit. The third way an investor can make a profit is when income is earned from the interest on bonds and from the dividend on stocks. The fund pays out almost all of the income it receives throughout the year to fund owners in a distribution. Mutual funds not only have great benefits on a profitable level but also have many other perks to them. Most importantly, mutual funds provide professional management of the investors’ money. Most investors purchase funds because they either don’t have the time or the expertise to thoroughly manage their own portfolios. This is a great way for...
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