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0cb400a482e3f9456531e52eb9bd8117 | Finding a good small business CPA? | [
{
"docid": "43544cf49d9103aa148b03b6f70b5ce4",
"text": "Ask your colleagues! I know that sounds obvious, but just go to where people who do your sort of business hang out (or better, find some venture capital firms and ask their portfolio companies). It's not something people would keep secret from you...",
"title": ""
},
{
"docid": "d5d2969e3095dd87f04b0ffbbdb58be3",
"text": "Check your local better business bureau. They can tell you who is in business, who's bonded, and who has had a lot of complaints levied against them for shoddy practices.",
"title": ""
},
{
"docid": "c68d940b558813b57eb63f1bf1324a2d",
"text": "People to ask: Granted I live in a small town, but when the same guy's name comes up more than once that's who you should hire...",
"title": ""
},
{
"docid": "d1f7fe158bdbb3b8634828acc9ac4633",
"text": "Ask for at least 10 references. Ask for 10 because it will be harder for them to refer you to ringer references like their family or friends.",
"title": ""
},
{
"docid": "6d78f4b17c9d6c973abc5b0d6a83d9fb",
"text": "I have had better experiences with accountants in smaller towns. It seems they are used to working with small businesses and their reputation is very important to them.",
"title": ""
},
{
"docid": "da6133a494b25f496cbb955cd65ff21e",
"text": "The first place to look for an accountant is the American Institute of Certified Public Accountants which has a directory of CPAs, accounting companies, and local accounting societies. I was also looking for one for my own small firm. It really helps.",
"title": ""
},
{
"docid": "6e1d042d845a3ded83660b9fd7eb6eb0",
"text": "Consult your local Small Business Administration office - they may have resources that can help you find what you're looking for.",
"title": ""
},
{
"docid": "f0aed14ebdb745589147bf106ba7b8f4",
"text": "Look for an accountant who brings not only expertise in number crunching, but consulting and business planning - a full package.",
"title": ""
}
] | [
{
"docid": "12d1a8b507f62f4a0cec0bd65c453fa8",
"text": "\"They are under the radar, but are very strong in Europe and Asia. Deal size will be middle market transactions in North America, a stark contrast to its accounting clients. The good: -established pipeline from accounting and consulting partners & contacts -much better work life balance than most IBs, no 100 hour weeks -widely known name brand -experience working on more than straight forward sell side deals; people underestimate the knowledge and skills you learn through being involved in turnarounds, refinancings, buy side advisory, etc. Cons: -exit opportunities are more limited -pay will be below street -partner \"\"buy in\"\" can be incredibly frustrating I will say that generally KPMG prefers CPAs (even for non-accounting positions) and requires 3-4 years of experience. But, considering you have the interview, they felt you were worth talking with.\"",
"title": ""
},
{
"docid": "276388f53db8e90d4b87333a7c07e18a",
"text": "Generally speaking no person or program is really going to be able to help you lower your current tax burden, most tax decisions are done well before you reach the tax time. You either qualify for the deduction/credit or your don't. Where a good accountant will really be able to help you out is in planning that will limit your future tax burden. Particularly if you run a small business or are very wealthy you will probably want to consider using an accountant. I would always avoid the large scale tax prep places like HR Block they provide the same or lower quality service for a higher price than the software. I run a small business and do my own taxes using turbo tax, but my business isn't overly complex Sole prop, no employees, couple 1099's simple expenses (nothing to amortize) etc.",
"title": ""
},
{
"docid": "c5473f78e89bb5a997d4a8fd639073f8",
"text": "I'm glad keshlam and Bobby mentioned there are free tools, both from the IRS and private software companies. Also search for Volunteer Income Tax Assistance (VITA) in your area for individual help with your return. A walk-in tax clinic strength is tax preparation. CPAs and EAs provide a higher level of service. For example, they compile and review your prior year's return and your current year, although that is not relevant to your current situation. EAs and CPAs are allowed to represent you before the IRS. They can directly meet or contact the IRS and navigate audits and other requests on your behalf. Outside of tax season, an accountant can help you with tax planning and other taxable events. Some people do not hire a CPA or EA until they need representation. Establishing a relationship and familiarity with an accountant now can save time and money if you do anticipate you will need representation later. Part of what makes the tax code complicated is it can use very specific definitions of a common word. Furthermore, the specific definition of a phrase or word can change between publications. Also, the tax code uses all-encompassing definitions and provide detailed and lengthy lists that are not exhaustive; you may not find your situation listed or described in the tax code, yet you are responsible for reporting your taxable events. The best software cannot navigate you through your tax situation like an accountant. Lastly, some of the smartest people I have met are accountants and to get the most out of meeting with them you should be as familiar as possible with your position. The more familiar you are with accounting, the more advanced knowledge they can share with you. In short, you will probably need an accountant when: You need to explain yourself before the IRS (representation), you are encountering varying definitions in the tax code that have an impact on your return, or you have important economic activities that you are unsure of appropriate tax treatment.",
"title": ""
},
{
"docid": "37d3deae559faa027f581038480369ba",
"text": "Should I go see a CPA? Not unless you are filing paperwork for a corporation. A CPA (Certified Public Accountant) is a certification required to file certain paperwork for a corporation. In any other situation, you don't need a CPA and can just use a regular accountant. You could conceivably go to a tax accountant, but unless you are doing something complicated (like your own business) or are rich enough that everything is complicated, you should not need to do so.",
"title": ""
},
{
"docid": "419c2cebfdf3fcf5bc0590e713494556",
"text": "I have a CPA. They said that it isn't possible. However, I've seen on message boards that it indeed IS possible, multiple times. I'll likely reach out to another CPA. However, I am interested to hear from somebody who has done this before, so that I at least have a name or defined process for what I'm attempting to do.",
"title": ""
},
{
"docid": "095938096f0729953b2f9a910c9744aa",
"text": "Hi, are you a business lawyer and do you happen to know the answer? I tried asking someone at a Small Business Center but I think he started getting annoyed at all my questions and starting becoming curt so I stopped asking even though I still wasn't clear on all the answers yet.",
"title": ""
},
{
"docid": "c4d74a187ce9d827a308f17fa8561d36",
"text": "okay, I was thinking of an investment advisor. I believe in not doing it alone too. But i don't believe in just one more person. Investing advisors, tax advisors, business and law. I don't go to an advisor bc I can't balance my monthly budget and also want to save, you know. Questions more like, highest growth sectors, diversified strategies, etc. And right, they wouldn't get fired bc their client is still happy, (even though their losing money during a record bull market). Guy must be a good sales man. I'd just want to know that my advisors performance is decent relative to the market. But again, I'm not handing over checks to people, only speaking with them. edit: Yes, the average person should worry about making their kids soccer games and shit, not necessarily the markets and what their investment is worth in 30yrs",
"title": ""
},
{
"docid": "1bc58462d1b93a9debd7c1241a6979f9",
"text": "\"I am perfectly qualified to not use an accountant. I am a business professor, and my work crosses over into accounting quite a bit. I would certainly find a CPA that is reputable and hire them for advice before starting. I know a physicist who didn't do that and found they ended up with $78,000 in fines. There are a number of specific things an accountant might provide that Quickbooks will not. First and foremost, they are an outsider's set of eyes. If they are good, they will find a polite way to say \"\"you want to do what?!?!?!\"\" If they are good, they won't fall out of their chair, their jaw won't drop to the floor, and they won't giggle until they get home. A good accountant has seen around a hundred successful and unsuccessful businesses. They have seen everything you may have thought of. Intelligence is learning from your own mistakes, wisdom is learning from the mistakes of others. Accountants are the repositories of wisdom. An accountant can point out weaknesses in your plan and help you shore it up. They can provide information about the local market that you may not be aware of. They can assist you with understanding the long run consequences of the legal form that you choose. They can assist you in understanding the trade-offs of different funding models. They can also do tasks that you are not talented at and which will take a lot of time if you do it, and little time if they do it. There is a reason that accountants are required to have 160 semester hours to sit for the CPA. They also have to have a few thousand field hours before they can sit for it as well. There is one thing you may want to keep in mind though. An accountant will often do what you ask them to do, so think about what you want before you visit the accountant. Also, remember to ask the question \"\"is there a question I should have asked but didn't?\"\"\"",
"title": ""
},
{
"docid": "6006ef38d0fc100958476f3a31823b0b",
"text": "This is a general rule of thumb that has worked for myself, as well as my Father, Brother and Sister. We all own separate businesses. Mine is B2B, my Father is a freelance architect, my Brother is a plumber, my Sister is a CPA. This is pretty much standard practice for what is required from a franchisee for a franchiser, as well. It may not apply to all businesses, but that can be easily determined by anyone reviewing this list, unless they're complete idiots. So, thank you, Mr. Obvious.",
"title": ""
},
{
"docid": "eaa2180e94ca419c10d2db37381389b7",
"text": "I'm not directly affiliated with the company (I work for one of the add-on partners) but I can wholeheartedly recommend Xero for both personal and business finances. Their basis is to make accounting simple and clean, without sacrificing any of the power behind having the figures there in the first place.",
"title": ""
},
{
"docid": "d7a6eff56f3a33ccc3d36c129fba03cd",
"text": "\"Although they may have some similar functions, CPAs and Enrolled Agents operate in two rather different areas of the accounting \"\"space.\"\" CPAs deal with financial statements, usually of corporations. They're the people you want to go to if you are making an investment, or if you own your own business, and need statements of pretax profit and loss prepared. Although a few of them are competent in taxation, the one thing many of them are weak at is tax rules, and this is where enrolled agents come in. Enrolled agents are more concerned with personal tax liability. They can 1) calculate your income taxes, and 2) represent you in hearings with the IRS because they've taken courses with IRS agents, and are considered by them to be almost \"\"one of us.\"\" Many enrolled agents are former IRS agents, actually. But they are less involved with corporate accounting, including things that might be of interest to stock holders. That's the CPA's province.\"",
"title": ""
},
{
"docid": "1dc280dc659eba1a66c2474e3a5ccbfd",
"text": "It depends on the person. i will take turbo tax over any mediocre or poor accountant ANY DAY. You get consistent, accurate tax preparation with the software (desktop - not the online version) I was in a housing rental partnership with my brothers and one of them insisted on using his accountant... what a mistake. I have been using turbo tax for 10+ years and have always been happy. It handles my non trivial situation with ease: I am happy with it but have to admit I don't have a good accountant to compare it to. I see no reason to go to an accountant except for planning purposes. Just for tax prep it is more than worth it and more than you will need.",
"title": ""
},
{
"docid": "668cecf9dd78bc8eeb8ac981a1655342",
"text": "Take a look at http://en.wikipedia.org/wiki/Comparison_of_accounting_software, in particular the rows with a market focus of 'personal'. This is probably one of the more complete lists available, and shows if they are web-based (like Mint) or standalone (like Quicken or Microsoft Money).",
"title": ""
},
{
"docid": "32b44a14f4784baafbf92a7751d9d834",
"text": "You're correct, there's always a conflict of interest in private professions whether you're a CPA, doctor or lawyer. There's always a possibility of backroom dealings. The only true response is that governmental bodies like the SEC, IRS and otherwise affiliated private organizations like the AICPA can take away your license to practice, send you to jail, or fine you thousands of dollars and ruin your life - if you're caught. I would personally draw a line between publicly traded corporations, amoral as you said, and public accounting. A CPA firm's responsibility is to the public even though they aren't a governmental body. Accounting records are required to do business with banks and the IRS. Without public confidence in the profession, CPA firms wouldn't exist. It's truly an incentive to do a good job and continually gain confidence. They incidentally make money along the way.",
"title": ""
},
{
"docid": "b2c2a2438b925a7ca203cf52bfabeaf3",
"text": "You really shouldn't be using class tracking to keep business and personal operations separate. I'm pretty sure the IRS and courts frown upon this, and you're probably risking losing any limited liability you may have. And for keeping separate parts of the business separate, like say stores in a franchise, one approach would be subaccounts. Messy, I'm sure.",
"title": ""
}
] | fiqa |
7bd728610fb8dfb299a0e9cfd25350d2 | Capitalize on a falling INR | [
{
"docid": "16edb3cbd1eeac5c4363c863762cfb5c",
"text": "By no means is this a comprehensive list, but a few items to consider:",
"title": ""
},
{
"docid": "ec969f84e46d88c9a6711a69a1bb92a1",
"text": "One simplest way is to to do Forex trading. You can do this by buying Foreign Currency Futures when you feel Rupee is going down or by selling those Futures when you feel Rupee will go up.",
"title": ""
}
] | [
{
"docid": "995e19b8e36871967e758402f14743c4",
"text": "That's all? What's the total shares outstanding? It's on thing is it's 100,000 and another if it's 10,000,000. What's the capitalization? If you don't know, check tech crunch and/or read the about section of your website. Having a bit of experience, my guess would be 10,000,000 (or much much more). Series A capitalization usually goes off at $1. If you are not in a management, sales, production or technology role .. you may not benefit much from the growth. So if you want to, watch your internal job postings and try to move up.",
"title": ""
},
{
"docid": "d17d924c5b82e1f761143e2f7cd919da",
"text": "\"There is no numerical convention in finance that I have ever seen. If you look at statements or reports that measure growth when the starting value is negative or zero, you typically see \"\"n/a\"\" or \"\"-\"\" or \"\"*\"\" as the result. Any numerical result would be meaningless. Suppose you used 100% and another company had a legitimate 150% gain - where would the 100% change rank? What do my manager and investors expect to see? As a financial analyst - I would not want to see 100%. I would instead rather see something that indicates that the % change is meaningless. As an example, here's the WSJ documentation on change in Net Income: Net Income percent change is the change from the same period from a year ago. Percent change is not provided if either the latest period or the year-ago period contains a net loss. Thinking about it in another context: Yesterday you and your friend had no apples. Today you have 1 and your friend has 20. What percentage increase did you both have? Did you both have a 100% increase? How can you indicate that your friend had a larger \"\"increase\"\"? In that case (and in finance), the context needs to turn from a percentage increase to an absolute increase. A percentage increase is that scenario is meaningless.\"",
"title": ""
},
{
"docid": "20d25eb66d23c393eb8804674b95aa13",
"text": "\"The sentence is mathematically wrong and verbally unclear. Mathematically, you calculate the downwards percentage by So, it should be Verbally, the reporter should have written \"\"The stock is down by 25%\"\", not \"\"down by -25%\"\".\"",
"title": ""
},
{
"docid": "63446bd49d23b1872991316c108d9e6e",
"text": "As NRI/PIO (Non-Resident Indian/Person of Indian Origin), the overseas income and transfers in foreign currency are exempt from Indian income taxes. However, the account in India has to be designated NRE or FCNR. There are three kind of accounts that an NRI can maintain Interest earned in NRE and FCNR accounts is exempt from income taxes. Interest earned in NRO accounts is not exempt from income taxes, in fact banks would withhold about 30% of interest (TDS). The exact tax liability would depend upon income generated in India and TDS could be applied towards that liability when the tax returns are filed. There are other implications also of designating the account as NRE or NRO. NRE accounts can only be funded via inward remittance of permitted foreign currency e.g. deposit USD/GBP. So proceeds like rental income, pension etc. that are generated in INR within India can't be deposited in this account. The money deposited in NRE account can grow tax free and can be converted back in any foreign currency freely. On the other hand NRO accounts can be funded through both inward remittance of permitted foreign currency or local income e.g. rental, pension etc. All the amount in this account is treated as Indian originated INR (even if remitted in foreign currency) and thus is taxed as any other bank account. The amount in this account is subject to the annual cap of convertibility of USD 1 million. Both NRE and NRO accounts are maintained in INR and can be Saving and Term Deposit. Any remittance made to these accounts in any foreign currency is converted to INR at the time of deposit and is maintained in INR. FCNR account are held in foreign currency and can only be Term Deposit. Official definitions: Accounts for Non Resident Indians (NRIs) and Persons of Indian Origin (PIOs)",
"title": ""
},
{
"docid": "03e58b338037cb9b34f764a6061a51ca",
"text": "You want the net expense of the surcharge minus the rewards to be no more than the interest that you would pay otherwise. Where t is the compounding period for the rate D expressed as a fraction of the overall period for D. So if D is an annual rate (not the APR, the simple rate), it would be expressed as something like 1/365 if compounded daily. That is the number of years in the compounding period. If a monthly rate or weekly compounding, that would change. And p is the number of such time periods in the grace period. So if the grace period were one month, this might be 30. Other variables are as used in the question, all expressed as percentages (which is why I'm dividing by 100). The D rate should be the simple rate, like 6% not the APR of 6.24% or whatever. Note that I'm saying <=. When equal, there is no financial advantage or disadvantage. You could choose either method for the same cost. Now, one method may be more annoying to implement, in which case you might add a fee for it on one side or the other of the equation. Or simply change the less than or equal to be just less than. I may be missing something that you should consider but I don't know. The problem is generic enough that pertinent details might be hidden. But hopefully this at least gives you a framework under which to consider it.",
"title": ""
},
{
"docid": "abf616c3123c474f8459d5c623759525",
"text": "\"Capitalization rate and \"\"Net Profit margin\"\" are two different things. In Capitalization rate note that we are taking the \"\"total value\"\" in the denominator and in Net profit margin we are taking \"\"Revenue/Sales\"\". Capitalization Rate: Capitalization Rate = Yearly Income/Total Value For example (from Investopedia: ) if Stephane buys a property that will generate $125,000 per year and he pays $900,000 for it, the cap rate is: 125,000/900,000 = 13.89%. Net Profit margin: Net Profit margin = Net Profit/Revenue For example (from finance formulas): A company's income statement shows a net income of $1 million and operating revenues of $25 million. By applying the formula, $1 million divided by $25 million would result in a net profit margin of 4%. Although the formula is simplistic, applying the concept is important in that 4% of sales will result in after tax profit.\"",
"title": ""
},
{
"docid": "1276e1f81743f47e0912964e2eba3635",
"text": "\"Your strategy fails to control risk. Your \"\"inversed crash\"\" is called a rally. And These kind of things often turn into bigger rallies because of short squeezes, when all the people that are shorting a stock are forced to close their stock because of margin calls - its not that shorts \"\"scramble\"\" to close their position, the broker AUTOMATICALLY closes your short positions with market orders and you are stuck with the loss. So no, your \"\"trick\"\" is not enough. There are better ways to profit from a bearish outlook.\"",
"title": ""
},
{
"docid": "ae6ff1f0e9dd2c7b31393e2e69748b1e",
"text": "\"No, you capitalize all that and deduct as depreciation from the royalties. What it means is that you cannot deduct the expense when it is incurred, but only when you started receiving income that the expense was used to derive. This is similar to capitalizing building improvements which can only be deducted when you start getting rent, or capitalizing software development expenses which can only be deducted once you start selling/licensing the developed software. In the case of book writing - you capitalize the expenses and deduct them once you start receiving royalties. The period over which you deduct (the \"\"depreciation schedule\"\") depends on the type of the expense and the type of the income, so you better get a guidance from a licensed tax accountant (EA or CPA licensed in your State).\"",
"title": ""
},
{
"docid": "c07bbb5851ed11e9beafd9068dce5412",
"text": "\"Outstanding principal balance is the amount you owe at any given time, not including the amount of interest you need to pay as soon as possible. The \"\"capitalized interest\"\" shown is consistent with an average of 13.5 months between when each dollar is borrowed and when the repayment period begins. Suppose you borrow the first half of the money on September 1, 2017 and the second half of the money on February 1, 2017 (5 months later). At that point, half the money has been accruing interest for 5 months. On January 1, 2018, half the money accrued interest for 16 months, and half the money accrued interest for 11 months. The lender now expects you to start repaying the loan, with the first payment due at the end of January 2018 or the beginning of February 2018. If you make the minimum payments on time, the lender expects you to make 120 monthly payments. The last monthly payment would be at the end of December 2027 or the beginning of January 2028. The lender (or the website) should provide details about the actual payment plan, grace periods, provisions for handling inability to pay due to unemployment, and other terms. In the United States, most installment loans pretend that (for purposes of calculating interest) every month has 30 days -- even February and July! Each month, 1/12 of the \"\"annual percentage rate\"\" (APR) is charged as interest. If you do the compounding, a 6.8 percent APR corresponds to (1 + 0.068 / 12)^12 - 1 = 7.016 percent \"\"annual percentage yield\"\" (APY). Also, the APR is understated. The 6.8 percent applies to the full balance (including the loan fees), even though the borrower only gets the amount minus the loan fees. The 6.8 percent rate is useful for doing calculations after the loan fees have been charged, though. These calculations include the capitalized interest and the monthly payment amounts. A true calculation of the APR would take the loan fees into account, and give a higher number than 6.8 percent. But the corrected APR would not be useful for calculating the capitalized interest, nor for calculating the monthly payment amounts.\"",
"title": ""
},
{
"docid": "f1a0bab43fe7bd385d1f5b7263d5969a",
"text": "It's not compound interest. It is internal rate of return. If you have access to Excel look up the XIRR built-in function.",
"title": ""
},
{
"docid": "20c9e9ae8c397b3bcdda3a75e314265a",
"text": "You can write industry loss warrants. This is the closest thing I’ve found since I’ve been interested in this side of the ILS trade. Hedge funds and asset managers can do this. From what I understand it’s you selling the risk. Want to start a fund? 🤔",
"title": ""
},
{
"docid": "4911f9a1e0f23dca3556083c61350494",
"text": "\"Since you did not treat the house as a QBU, you have to use USD as your functional currency. To calculate capital gains, you need to calculate the USD value at the time of purchase using the exchange rate at the time of purchase and the USD value at the time of sale using the exchange rate at the time of sale. The capital gain / loss is then the difference between the two. This link describes it in more detail and provides some references: http://www.maximadvisors.com/2013/06/foreign-residence/ That link also discusses additional potential complications if you have a mortgage on the house. This link gives more detail on the court case referenced in the above link: http://www.uniset.ca/other/cs5/93F3d26.html The court cases references Rev. Rul 54-105. This link from the IRS has some details from that (https://www.irs.gov/pub/irs-wd/0303021.pdf): Rev. Rul. 54-105, 1954-1 C.B. 12, states that for purposes of determining gain, the basis and selling price of property acquired by a U.S. citizen living in a foreign country should be expressed in United States dollars at the rates of exchange prevailing as of the dates of purchase and sale of the property, respectively. The text of this implies it is for U.S. citizen is living in a foreign country, but the court case makes it clear that it also applies in your scenario (house purchased while living abroad but now residing in the US): Appellants agree that the 453,374 pounds received for their residence should be translated into U.S. dollars at the $1.82 exchange rate prevailing at the date of sale. They argue, however, that the 343,147 pound adjusted cost basis of the residence, consisting of the 297,500 pound purchase price and the 45,647 pounds paid for capital improvements, likewise should be expressed in U.S. dollar terms as of the date of the sale. Appellants correctly state that, viewed “in the foreign currency in which it was transacted,” the purchase generated a 110,227 pound gain as of the date of the sale, which translates to approximately $200,000 at the $1.82 per pound exchange rate. ... However fair and reasonable their argument may be, it amounts to an untenable attempt to convert their “functional currency” from the U.S. dollar to the pound sterling. ... Under I.R.C. § 985(b)(1), use of a functional currency other than the U.S. dollar is restricted to qualified business units (\"\"QBU\"\"s). ... appellants correctly assert that their residence was purchased “for a pound-denominated value” while they were “living and working in a pound-denominated economy,” ... And since appellants concede that the purchase and sale of their residence was not carried out by a QBU, the district court properly rejected their plea to treat the pound as their functional currency.\"",
"title": ""
},
{
"docid": "410f540b4ab654bf8bda42f5bd8443f1",
"text": "If you make money in currency speculation (as in your example), that is a capital gain. A more complicated example is if you were to buy and then sell stocks on the mexican stock exchange. Your capital gain (or loss) would be the difference in value in US dollars of your stocks accounting for varying exchange rates. It's possible for the stocks to go down and for you to still have a capital gain, and vice versa.",
"title": ""
},
{
"docid": "7ec4040c3ac8334ab36c650435360cd4",
"text": "\"As Dilip said, if you want actual concrete, based in tax law, answers, please add the country (and if applicable, state) where you pay income tax. Also, knowing what tax bracket you're in would help as well, although I certainly understand if you're not comfortable sharing that. So, assuming the US... If you're in the 10% or 15% tax bracket, then you're already not paying any federal tax on the $3k long term gain, so purposely taking losses is pointless, and given that there's probably a cost to taking the loss (commission, SEC fee), you'd be losing money by doing so. Also, you won't be able to buy back the loser for 31 days without having the loss postponed due to the wash sale that would result. State tax is another matter, but (going by the table in this article), even using the highest low end tax rate (Tennessee at 6%), the $50 loss would only save you $3, which is probably less than the commission to sell the loser, so again you'd be losing money. And if you're in a state with no state income tax, then the loss wouldn't save you anything on taxes at the state level, but of course you'll still be paying to be able to take the loss. On the high end, you'd be saving 20% federal tax and 13.3% state tax (using the highest high end tax state, California, and ignoring (because I don't know :-) ) whether they tax long-term capital gains at the same rate as regular income or not), you'd be saving $50 * (20% + 13.3%) = $50 * 33.3% = $16.65. So for taxes, you're looking at saving between nothing and $16.65. And then you have to subtract from that the cost to achieve the loss, so even on the high end (which means (assuming a single filer)) you're making >$1 million), you're only saving about $10, and you're probably actually losing money. So I personally don't think taking a $50 loss to try to decrease taxes makes sense. However, if you really meant $500 or $5000, then it might (although if you're in the 10-15% brackets in a no income tax state, even then it wouldn't). So the answer to your final question is, \"\"It depends.\"\" The only way to say for sure is, based on the country and state you're in, calculate what it will save you (if anything). As a general rule, you want to avoid letting the tax tail wag the dog. That is, your financial goal should be to end up with the most money, not to pay the least taxes. So while looking at the tax consequences of a transaction is a good idea, don't look at just the tax consequences, look at the consequences for your overall net worth.\"",
"title": ""
},
{
"docid": "ac1b913c39ab30f29679bf9167b2f2b5",
"text": "Hope you figure it out. There wouldn't be a different RFR / discount rate because you're assuming a return on parked cash - that's what it's for. Since both situations would theoretically happen simultaneously you use the same rate unless you would do something different with cash in each instance.",
"title": ""
}
] | fiqa |
4d070ab9901fac8db231acdaae2532f6 | Where should I invest to hedge against the stock market going down? | [
{
"docid": "c4af7c5b84f8a8e9b587e166afcedb5c",
"text": "If you believe the stock market will be down 20-30% in the next few months, sell your stock holdings, buy a protective put option for the value of the holdings that you want to keep. That would be hedging against it. Anything more is speculating that the market will fall.",
"title": ""
},
{
"docid": "48345d5776717886b3a688f1d83911e7",
"text": "If you were certain you would probably do best by short selling an ETF that tracked the index for the market you think was about to tank. You'd certainly make a lot more money on that strategy than precious metals. If you were feeling super confident and want to make your money earn even more, you could also buy a bunch of put options on those same ETF funds. Obligatory Warning: Short selling and options can be extremely risky. While most investments cap your potential losses to your total investment, a short sale has no theoretical limit to the amount of money you can lose.",
"title": ""
},
{
"docid": "e24ea228461090f6021348631a5de106",
"text": "Sometimes the simple ways are the best:",
"title": ""
},
{
"docid": "85489c05ac7a10c1377c05bb0291504e",
"text": "Put Options. They're less risky than shorting, and have similar upsides. The major difference is that if the price goes up, you're just out the underwriting price. You'll also need to know when the event will happen, or you risk being outwaited. More traditionally, an investor would pull their money out of the market and move into Treasury bonds. Recall that when the market tanked in 2008, the price of treasuries jumped. Problem is, you can only do that trade once, and it hasn't really unwound yet. And the effect is most pronounced on short term treasuries, so you have to babysit the investment. Because of this, I think some people have moved into commodities like gold, but there's a lot of risk there. Worst case scenario you have a lot of shiny metal you can't eat or use.",
"title": ""
},
{
"docid": "afdd5a936be2a9b0e538321fa88b1cd4",
"text": "There are multiple ETFs which inversely track the common indices, though many of these are leveraged. For example, SDS tracks approximately -200% of the S&P 500. (Note: due to how these are structured, they are only suitable for very short term investments) You can also consider using Put options for the various indices as well. For example, you could buy a Put for the SPY out a year or so to give you some fairly cheap insurance (assuming it's a small part of your portfolio). One other option is to invest against the market volatility. As the market makes sudden swings, the volatility goes up; this tends to be true more when it falls than when it rises. One way of invesing in market volatility is to trade options against the VIX.",
"title": ""
}
] | [
{
"docid": "8615e9a68e1874e10f12d06764d16009",
"text": "Your question reminds me of a Will Rogers quote: buy some good stock, and hold it till it goes up, then sell it. If it don’t go up, don’t buy it. There's no way to prevent yourself from buying a stock that goes down. In fact all stocks go down at some times. The way to protect your long term investment is to diversify, which increases the chances that you have more stocks that go up than go down. So many advisors will encourage index funds, which have a low cost (which eats away at returns) and low rick (because of diversification). If you want to experiment with your criteria that's great, and I wish you luck, but Note that historically, very few managed funds (meaning funds that actively buy and sell stocks based on some set of criteria) outperform the market over long periods. So don't be afraid of some of your stocks losing - if you diversify enough, then statistically you should have more winners than losers. It's like playing blackjack. The goal is not to win every hand. The goal is to have more winning hands than losing hands.",
"title": ""
},
{
"docid": "1856f12fa004f6ee1b1d9889a4827b0d",
"text": "Bonds by themselves aren't recession proof. No investment is, and when a major crash (c.f. 2008) occurs, all investments will be to some extent at risk. However, bonds add a level of diversification to your investment portfolio that can make it much more stable even during downturns. Bonds do not move identically to the stock market, and so many times investing in bonds will be more profitable when the stock market is slumping. Investing some of your investment funds in bonds is safer, because that diversification allows you to have some earnings from that portion of your investment when the market is going down. It also allows you to do something called rebalancing. This is when you have target allocation proportions for your portfolio; say 60% stock 40% bond. Then, periodically look at your actual portfolio proportions. Say the market is way up - then your actual proportions might be 70% stock 30% bond. You sell 10 percentage points of stocks, and buy 10 percentage points of bonds. This over time will be a successful strategy, because it tends to buy low and sell high. In addition to the value of diversification, some bonds will tend to be more stable (but earn less), in particular blue chip corporate bonds and government bonds from stable countries. If you're willing to only earn a few percent annually on a portion of your portfolio, that part will likely not fall much during downturns - and in fact may grow as money flees to safer investments - which in turn is good for you. If you're particularly worried about your portfolio's value in the short term, such as if you're looking at retiring soon, a decent proportion should be in this kind of safer bond to ensure it doesn't lose too much value. But of course this will slow your earnings, so if you're still far from retirement, you're better off leaving things in growth stocks and accepting the risk; odds are no matter who's in charge, there will be another crash or two of some size before you retire if you're in your 30s now. But when it's not crashing, the market earns you a pretty good return, and so it's worth the risk.",
"title": ""
},
{
"docid": "231edf979c5c89266277168a74e11be4",
"text": "\"There is no rule-of-thumb that fits every person and every situation. However, the reasons why this advice is generally applicable to most people are simple. Why it is good to be more aggressive when you are young The stock market has historically gone up, on average, over the long term. However, on its way up, it has ups and downs. If you won't need your investment returns for many years to come, you can afford to put a large portion of your investment into the volatile stock market, because you have plenty of time for the market to recover from temporary downturns. Why it is good to be more conservative when you are older Over a short-term period, there is no certainty that the stock market will go up. When you are in retirement, most people withdraw/sell their investments for income. (And once you reach a certain age, you are required to withdraw some of your retirement savings.) If the market is in a temporary downturn, you would be forced to \"\"sell low,\"\" losing a significant portion of your investment. Exceptions Of course, there are exceptions to these guidelines. If you are a young person who can't help but watch your investments closely and gets depressed when seeing the value go down during a market downturn, perhaps you should move some of your investment out of stocks. It will cost you money in the long term, but may help you sleep at night. If you are retired, but have more saved than you could possibly need, you can afford to risk more in the stock market. On average, you'll come out ahead, and if a downturn happens when you need to sell, it won't affect your overall situation much.\"",
"title": ""
},
{
"docid": "5a72ff5df7c10fc5819181bb3b972e83",
"text": "Then buy an indexed ETF or mutual fund that tracks the S&P 500 and leave your money there until you need it. If you can (there are restrictions for income, etc.), try and setup a retirement vehicle, such as a Roth IRA to get tax advantages.",
"title": ""
},
{
"docid": "ee81a90148d0f963fa707fa0e5631b6c",
"text": "\"The standard low-risk/gain very-short-term parking spot these days tends to be a money market account. However, you have only mentioned stock. For good balance, your portfolio should consider the bond market too. Consider adding a bond index fund to diversify the basic mix, taking up much of that 40%. This will also help stabilize your risk since bonds tend to move opposite stocks (prperhaps just because everyone else is also using them as the main alternative, though there are theoretical arguments why this should be so.) Eventually you may want to add a small amount of REIT fund to be mix, but that's back on the higher risk side. (By the way: Trying to guess when the next correction will occur is usually not a winning strategy; guesses tend to go wrong as often as they go right, even for pros. Rather than attempting to \"\"time the market\"\", pick a strategic mix of investments and rebalance periodically to maintain those ratios. There has been debate here about \"\"dollar-cost averaging\"\" -- see other answers -- but that idea may argue for investing and rebalancing in more small chunks rather than a few large ones. I generally actively rebalance once a year or so, and between those times let maintainng the balance suggest which fund(s) new money should go into -- minimal effort and it has worked quite well enough.,)\"",
"title": ""
},
{
"docid": "cb87072852045121352db618e87426c1",
"text": "If you are worried about an increase in volatility, then go long volatility. Volatility itself can be traded. Here in the US there is an index VIX that is described as tracking volatility. What VIX actually tracks is the premium of S&P 500 options, which become more expensive when traders want to hedge against volatility. In the US you can trade VIX options or invest in VIX tracking ETFs like VXX. Apparently there are similar ETFs listed in Canada, such as HUV. Volatility itself is quite volatile so it is possible that a small volatility long position would cover the losses of a larger long position in stocks. If you do choose to invest in a volatility ETF, be aware that they experience quite a lot of decay. You will not want to hold it for very long.",
"title": ""
},
{
"docid": "e9479291259074533e355387dc6805eb",
"text": "\"The difference is in the interrelation between the varied investments you make. Hedging is about specifically offsetting a possible loss in an investment by making another related investment that will increase in value for the same reasons that the original investment would lose value. Gold, for instance, is often regarded as the ultimate hedge. Its value is typically inversely correlated to the rest of the market as a whole, because its status as a material, durable store of value makes it a preferred \"\"safe haven\"\" to move money into in times of economic downturn, when stock prices, bond yields and similar investments are losing value. That specific behavior makes investing in gold alongside stocks and bonds a \"\"hedge\"\"; the increase in value of gold as stock prices and bond yields fall limits losses in those other areas. Investment of cash in gold is also specifically a hedge against currency inflation; paper money, account balances, and even debt instruments like bonds and CDs can lose real value over time in a \"\"hot\"\" economy where there's more money than things to buy with it. By keeping a store of value in something other than currency, the price of that good will rise as the currencies used to buy it decrease in real value, maintaining your level of real wealth. Other hedges are more localized. One might, for example, trade oil futures as a hedge on a position in transportation stocks; when oil prices rise, trucking and airline companies suffer in the short term as their margins get squeezed due to fuel costs. Currency futures are another popular hedge; a company in international business will often trade options on the currencies of the companies it does business in, to limit the \"\"jitters\"\" seen in the FOREX spot market caused by speculation and other transient changes in market demand. Diversification, by contrast, is about choosing multiple unrelated investments, the idea being to limit losses due to a localized change in the market. Companies' stocks gain and lose value every day, and those companies can also go out of business without bringing the entire economy to its knees. By spreading your wealth among investments in multiple industries and companies of various sizes and global locations, you insulate yourself against the risk that any one of them will fail. If, tomorrow, Kroger grocery stores went bankrupt and shuttered all its stores, people in the regions it serves might be inconvenienced, but the market as a whole will move on. You, however, would have lost everything if you'd bet your retirement on that one stock. Nobody does that in the real world; instead, you put some of your money in Kroger, some in Microsoft, some in Home Depot, some in ALCOA, some in PG&E, etc etc. By investing in stocks that would be more or less unaffected by a downturn in another, if Kroger went bankrupt tomorrow you would still have, say, 95% of your investment next egg still alive, well and continuing to pay you dividends. The flip side is that if tomorrow, Kroger announced an exclusive deal with the Girl Scouts to sell their cookies, making them the only place in the country you can get them, you would miss out on the full possible amount of gains you'd get from the price spike if you had bet everything on Kroger. Hindsight's always 20/20; I could have spent some beer money to buy Bitcoins when they were changing hands for pennies apiece, and I'd be a multi-millionaire right now. You can't think that way when investing, because it's \"\"survivor bias\"\"; you see the successes topping the index charts, not the failures. You could just as easily have invested in any of the hundreds of Internet startups that don't last a year.\"",
"title": ""
},
{
"docid": "700d562ac8cc25dccfd48cd894eb4ef0",
"text": "\"Some thoughts: 1) Do you have a significant emergency fund (3-6 months of after-tax living expenses)? If not, you stand to take a significant loss if you have an unexpected need for cash that is tied up in investments. What if you lose/hate your job or your car breaks down? What if a you want to spend some time with a relative or significant other who learns they only have a few months to live? Having a dedicated emergency fund is an important way to avoid downside risk. 2) Lagerbaer has a good suggestion. Given that if you'd reinvested your dividends, the S&P 500 has returned about 3.5% over the last 5 years, you may be able to get a very nice risk-free return. 3) Do you have access to employer matching funds, such as in a 401(k) at work? If you get a dollar-for-dollar match, that is a risk-free pre-tax 100% return and should be a high priority. 4) What do you mean by \"\"medium\"\" volatility? Given that you are considering a 2/3 equity allocation, it would not be at all out of the realm of possibility that your balance could fall by 15% or more in any given year and take several years to recover. If that would spook you, you may want to consider lowering your equity weights. A high quality bond fund may be a good fit. 5) Personally, I would avoid putting money into stocks that I didn't need back for 10 years. If you only want to tie your money up for 2-5 years, you are taking a significant risk that if prices fall, you won't have time to recover before you need your money back. The portfolio you described would be appropriate for someone with a long-term investment horizon and significant risk tolerance, which is usually the case for young people saving for retirement. However, if your goals are to invest for 2-5 years only, your situation would be significantly different. 6) You can often borrow from an investment account to purchase a primary residence, but you must pay that amount back in order to avoid significant taxes and fees, unless you plan to liquidate assets. If you plan to buy a house, saving enough to avoid PMI is a good risk-free return on your money. 7) In general, and ETF or index fund is a good idea, the key being to minimize the compound effect of expenses over the long term. There are many good choices a la Vanguard here to choose from. 8) Don't worry about \"\"Buy low, sell high\"\". Don't be a speculator, be an investor (that's my version of Anthony Bourdain's, \"\"don't be a tourist, be a traveler\"\"). A speculator wants to sell shares at a higher price than they were purchased at. An investor wants to share in the profits of a company as a part-owner. If you can consistently beat the market by trying to time your transactions, good for you - you can move to Wall Street and make millions. However, almost no one can do this consistently, and it doesn't seem worth it to me to try. I don't mean to discourage you from investing, just make sure you have your bases covered so that you don't have to cash out at a bad time. Best of luck! Edit Response to additional questions below. 1) Emergency fund. I would recommend not investing in anything other than cash equivalents (money market, short-term CDs, etc.) until you've built up an emergency fund. It makes sense to want to make the \"\"best\"\" use of your money, but you also have to account for risk. My concern is that if you were to experience one or more adverse life events, that you could lose a lot of money, or need to pay a lot in interest on credit card debt, and it would be prudent to self-insure against some of those risks. I would also recommend against using an investment account as an emergency fund account. Taking money out of investment accounts is inefficient because the commissions/taxes/fees can easily eat up a significant portion of your returns. Ideally, you would want to put money in and not touch it for a long time in order to take advantage of compounding returns. There are also high penalties for early disbursements from retirement funds. Just like you need enough money in your checking account to buy food and pay the rent every month, you need enough money in an emergency fund to pay for things that are a real possibility, even if they are less common. Using a credit card or an investment account is a relatively expensive way to do this. 2) Invest at all? I would recommend starting an emergency fund, and then beginning to invest for retirement. Once your retirement savings are on track, you can begin saving for whatever other goals you may have\"",
"title": ""
},
{
"docid": "8310f2218e19f58e31b2da656ce534a7",
"text": "Are you willing to risk the possibility of investing to prepare for these things and losing money or simply getting meager returns if those crises don't happen? Just invest in a well diversified portfolio both geographically and across multiple sectors and you should be fine.",
"title": ""
},
{
"docid": "58d36651cc5f1d4b3e8327bc4833378a",
"text": "\"If you're investing for the long term your best strategy is going to be a buy-and-hold strategy, or even just buying a few index funds in several major asset classes and forgetting about it. Following \"\"market conditions\"\" is about as useful to the long term trader as checking the weather in Anchorage, Alaska every day (assuming that you don't live in Anchorage, Alaska). Let me suggest treating yourself to a subscription to The Economist and read it once a week. You'll learn a lot more about investing, economics, and world trends, and you won't be completely in the dark if there are major structural changes in the world (like gigantic housing bubbles) that you might want to know about.\"",
"title": ""
},
{
"docid": "5b70a0767127af96e29b1b5b41b93e99",
"text": "\"I can think of a few reasons for this. First, bonds are not as correlated with the stock market so having some in your portfolio will reduce volatility by a bit. This is nice because it makes you panic less about the value changes in your portfolio when the stock market is acting up, and I'm sure that fund managers would rather you make less money consistently then more money in a more volatile way. Secondly, you never know when you might need that money, and since stock market crashes tend to be correlated with people losing their jobs, it would be really unfortunate to have to sell off stocks when they are under-priced due to market shenanigans. The bond portion of your portfolio would be more likely to be stable and easier to sell to help you get through a rough patch. I have some investment money I don't plan to touch for 20 years and I have the bond portion set to 5-10% since I might as well go for a \"\"high growth\"\" position, but if you're more conservative, and might make withdrawals, it's better to have more in bonds... I definitely will switch over more into bonds when I get ready to retire-- I'd rather have slow consistent payments for my retirement than lose a lot in an unexpected crash at a bad time!\"",
"title": ""
},
{
"docid": "61d4dc5d0d5d24072fd42eeb5e6639bc",
"text": "I've thought of the following ways to hedge against a collapsing dollar:",
"title": ""
},
{
"docid": "8aca5ab77ad9a7c18b6ceeb4300f23be",
"text": "$10k isn't really enough to make enough money to offset the extremely high risks in investing in options in this area. Taking risks is great, but a sure losing proposition isn't a risk -- it's a gamble. You're likely to get wiped out with leveraged options, since you don't have enough money to hedge your bets. Timing is critical... look at the swings in valuation in the stock market between the Bear Sterns and Lehman collapses in 2009. If you were highly leveraged in QQQQ that you bought in June 2009, you would have $0 in November. With $10k, I'd diversify into a mixture of foreign cash (maybe ETFs like FXF, FXC, FXY), emerging markets equities and commodities. Your goal should be to preserve investment value until buying opportunities for depressed assets come around. Higher interest rates that come with inflation will be devastating to the US economy, so if I'm betting on high inflation, I want to wait for a 2009-like buying opportunity. Then you buy depressed non-cyclical equities with easy to predict cash flows like utilities (ConEd), food manufacturers (General Mills), consumer non-durables (P&G) and alcohol/tobacco. If they look solvent, buying commodity ETFs like the new Copper ETFs or interests in physical commodities like copper, timber, oil or other raw materials with intrinsic value are good too. I personally don't like gold for this purpose because it doesn't have alot of industrial utility. Silver is a little better, but copper and oil are things with high intrinsic value that are always needed. As far as leverage goes, proceed with caution. What happens when you get high inflation? High cost of capital.",
"title": ""
},
{
"docid": "dbf893ec807be8fab7f44e5329eadcc3",
"text": "\"As a great man once said, \"\"No risk it, no biscuit.\"\" Nothing can immunize you from catastrophe. But cash won't do well in a war, either, so you need to turn it into something else. And timing is a crapshoot. When you enter, when you exit, total waste of your energy. Find something you want to own and watch, and get wet. If you want to be diversified, get into index funds. You'll technically own a little of everything, and they do well if you just leave them be. For example, they're higher than they were at the start of every war in the past. If you don't need the money in the war, just leave it there and you'll come out later with more than you started with which is what you wanted. Stay away from bonds, because the Fed is going to start unwinding QE soon and that's going to clobber bond values, taking bond funds with them. If you feel totally convinced war is coming, then get something that exposes you to gold. Like gold, for instance.\"",
"title": ""
},
{
"docid": "6821015b22bf903e1176699de9ec2480",
"text": "Buy puts on stock holdings buy puts on indexes look at volatility etfs and silver/gold etf s. Calling a market top is hard people hVe tried for 8 years now. 90 of protection via options expires worthless. Who knows if we have another crash. I don't call tops or bottoms if we start falling then I'll look at protection and play the downside",
"title": ""
}
] | fiqa |
7ac1be21fe1063a2781401bdfe4bfa28 | What would happen if the Euro currency went bust? | [
{
"docid": "d47d1d96b13fb1d436e6802cf96bb61c",
"text": "Each country would have to go back to its own currency, or the rich countries would just kick the poor ones out of the EU. It would be bad for the poor countries, and the global economy would suffer, but it really wouldn't be a big deal.",
"title": ""
},
{
"docid": "aab8bfc32c55710d1b90338183b1a0fc",
"text": "These rumors are here just to help dollar stay alive. Euro have problems, but they are rather solvable, unlike dollar situation. Even if something wrong would happen - countries would return to their national currencies, mainly Germany & France are important here. This does not means that EuroUnion would be destroyed - some countries live in EU without Euro and they are just fine.",
"title": ""
},
{
"docid": "6e3ceaab19aa92b952daca64edf09669",
"text": "If the Euro went bust then it would be the 12th government currency to go belly up in Europe (according to this website). Europe holds the record for most failed currencies. It also holds the record for the worst hyperinflation in history - Yugoslavia 1993. I'm not sure what would happen if the Euro failed. It depends on how it fails. If it fails quickly (which most do) then there will be bank runs, bank holidays, capital controls, massive price increases, price controls, and just general confusion as people race to get rid of their Euros. Black markets for everything will pop up if the price controls remain in place. Some countries may switch to a foreign currency (i.e. the US dollar if it is still around) until they can get their own currency in circulation.",
"title": ""
},
{
"docid": "332c7311f705acec1dd28a25e372bdce",
"text": "I'd have anything you would need for maybe 3-6 months stored up: food, fuel, toiletries, other incidentals. What might replace the currency after the Euro collapses will be the least of your concerns when it does collapse.",
"title": ""
},
{
"docid": "9068374da97395610198f6d0ad280764",
"text": "Krugman (Nobel prize in Economy) has just said: Greek euro exit, very possibly next month. Huge withdrawals from Spanish and Italian banks, as depositors try to move their money to Germany. 3a. Maybe, just possibly, de facto controls, with banks forbidden to transfer deposits out of country and limits on cash withdrawals. 3b. Alternatively, or maybe in tandem, huge draws on ECB credit to keep the banks from collapsing. 4a. Germany has a choice. Accept huge indirect public claims on Italy and Spain, plus a drastic revision of strategy — basically, to give Spain in particular any hope you need both guarantees on its debt to hold borrowing costs down and a higher eurozone inflation target to make relative price adjustment possible; or: 4b. End of the euro. And we’re talking about months, not years, for this to play out. http://krugman.blogs.nytimes.com/2012/05/13/eurodammerung-2/",
"title": ""
},
{
"docid": "8ff08107bbfa13cbfeed8f5187580bce",
"text": "\"The result would be catastrophic. The almost-reserve currency would collapse which would produce a medium sized depression, perhaps same with with 2008-now, or even larger, since don't forget, that one was produced from a housing bubble existing in only a part of the american economy; imagine what would happen if almost the full size of the economy (Europe) would collapse, even if Europe isn't as much \"\"connected\"\". But reality here is, there's no chance to that. The real reason you hear those rumors is that America (along with minor partners like the British Sterling) want to bring down the Euro for medium-term benefit. e.g. Several economists get on Bloomberg announcing they are short selling the Euro. Irony is, all this is helping the Euro since selling and short-selling and selling and short-selling helps massively its liquidity. It's like several nay sayers actually making a politician famous with their spite.\"",
"title": ""
}
] | [
{
"docid": "23dcb346982a8bdcf2ec460e8c272c4c",
"text": "There are many different things that can happen, all or some. Taking Russia and Argentina as precedence - you may not be able to withdraw funds from your bank for some period of time. Not because your accounts will be drained, but because the cash supply will be restricted. Similar thing has also happened recently in Cyprus. However, the fact that the governments of Russia and Argentina limited the use of cash for a period of time doesn't mean that the US government will have to do the same, it my choose some other means of restraint. What's for sure is that nothing good will happen. Nothing will probably happen to your balance in the bank (Although Cyprus has shown that that is not a given either). But I'm not so sure about FDIC maintaining it's insurance if the bank fails (meaning if the bank defaults as a result of the chain effect - you may lose your money). If the government is defaulting, it might not have enough cash to take over the bank deposits. After the default the currency value will probably drop sharply (devaluation) which will lead to inflation. Meaning your same balance will be worth much less than it is now. So there's something to worry about for everyone.",
"title": ""
},
{
"docid": "53a33eed609d2c59d67a43cc281aea4f",
"text": "There are various indexes on the stock market that track the currencies. Though it is different than Forex (probably less leverage), you may be able to get the effects you're looking for. I don't have a lot of knowledge in this area, but looked some into FXE, to trade the Euro debt crisis. Here's an article on Forex, putting FXE down (obviously a biased view, but perhaps will give you a starting point for comparison, should you want to trade something specific, like the current euro/dollar situation).",
"title": ""
},
{
"docid": "7e087c06ec9a617707d80075a5f8175b",
"text": "It depends on what actions the European Central Bank (ECB) takes. If it prints Euros to bail out the country then your Euros will decline in value. Same thing with a US state going bankrupt. If the FED prints dollars to bailout a state it will set a precedent that other states can spend carelessly and the FED will be there to bail them out by printing money. If you own bonds issued by the bankrupting state then you could lose some of your money if the country is not bailed out.",
"title": ""
},
{
"docid": "6cc7e456751c9ae6e555519de100de88",
"text": "In many countries in Europe the prices shot through the roof, so it is not all positive. Also the switching country gives out lot of monetary control that is not welcomed by many. I think that UK is not going to change to euro for a long long time.",
"title": ""
},
{
"docid": "776a0fad3abfce8445dedec1de473ff6",
"text": "Short the Pound and other English financial items. Because the English economy is tied to the EU, it will be hit as well. You might prefer this over Euro denominated investments, since it's not exactly clear who your counterpart is if the Euro really crashes hard. Meaning suppose you have a short position Euro's versus dollars, but the clearing house is taken down by the crash.",
"title": ""
},
{
"docid": "cef4fa3efefe86f85f703ff4e020704f",
"text": "\"If there is a very sudden and large collapse in the exchange rate then because algorithmic trades will operate very fast it is possible to determine “x” immediately after the change in exchange rate. All you need to know is the order book. You also need to assume that the algorithmic bot operates faster than all other market participants so that the order book doesn’t change except for those trades executed by the bot. The temporarily cheaper price in the weakened currency market will rise and the temporarily dearer price in the strengthened currency market will fall until the prices are related by the new exchange rate. This price is determined by the condition that the total volume of buys in the cheaper market is equal to the total volume of sells in the dearer market. Suppose initially gold is worth $1200 on NYSE or £720 on LSE. Then suppose the exchange rate falls from r=0.6 £/$ to s=0.4 £/$. To illustrate the answer lets assume that before the currency collapse the order book for gold on the LSE and NYSE looks like: GOLD-NYSE Sell (100 @ $1310) Sell (100 @ $1300) <——— Sell (100 @ $1280) Sell (200 @ $1260) Sell (300 @ $1220) Sell (100 @ $1200) ————————— buy (100 @ $1190) buy (100 @ $1180) GOLD-LSE Sell (100 @ £750) Sell (100 @ £740) ————————— buy (200 @ £720) buy (200 @ £700) buy (100 @ £600) buy (100 @ £550) buy (100 @ £530) buy (100 @ £520) <——— buy (100 @ £500) From this hypothetical example, the automatic traders will buy up the NYSE gold and sell the LSE gold in equal volume until the price ratio \"\"s\"\" is attained. By summing up the sell volumes on the NYSE and the buy volumes on the LSE, we see that the conditions are met when the price is $1300 and £520. Note 800 units were bought and sold. So “x” depends on the available orders in the order book. Immediately after this, however, the price of the asset will be subject to the new changes of preference by the market participants. However, the price calculated above must be the initial price, since otherwise an arbitrage opportunity would exist.\"",
"title": ""
},
{
"docid": "72bad22ce0b9a53d90e41eec6a0b3030",
"text": "\"Why will they find financing when they leave the Euro? Why would their currencies not simply hyperinflate due to excessive issuance in an attempt to devalue? Which is worse for unemployment, austerity or hyperinflation? >they'd be expelled by Germany This is a union correct? Why do you assume Germany holds all the cards? I've read that Gonzalo Lira essay and have read Mish about everyday since 2009, yet still do not think it is so obvious that the Euro will collapse. I gained quite a bit of skepticism from Barry Eichengreen's paper on the [Breakup of the Euro Area.](http://www.nber.org/papers/c11654.pdf?new_window=1) What I see right now is that so far the ECB has only acted in such a way as to prevent outright deflation and meet its 2% inflation target, but not to continuously outright fund the profligate governments. They let the bond markets force those governments into contraction or into default whereas the fed, with its dual mandate, will always buy the US bonds and eventually will inflate the currency as opposed to having a sovereign default. So I think we will see the ECB continue to print as much is needed to meet its mandate but at the same time there will be defaults, bank nationalizations and failures, and a continued lack of growth in the Euro area until eventually the austerity measures bring revenue and spending in line at which point the countries under heavy debt would be stupid not to default because they can self finance. Whereas in the US we are so dependent on deficit financing that as foreigners move further away from holding treasuries we become more susceptible to bond vigilantes taking the reigns which will force the feds hand into outright monetization. Then I think we will see our own government exacerbate inflation by bidding on the same goods that those dollars which no longer are going into treasuries are bidding on. Then I think we'll finally see bad inflation in the US. Of course as long as there is hoards of money fleeing Europe for the US \"\"safe haven,\"\" the lack of foreign treasury investment is pretty moot. *spelling\"",
"title": ""
},
{
"docid": "cd99462a2beb0902adf9f5e34c303db6",
"text": "I suppose they still could risk hyperinflation? Anyways, if they got their own currency that would probably be positive for their exports. Still, what are they going to export? Buying any raw materials would be super expensive with their devalued currency. What is your thought about their exporting with devalued currency?",
"title": ""
},
{
"docid": "a316b4e61c79499efab27a0de2c74573",
"text": "I am going to clone an answer from another question that I wrote ;) and refer you to an article in the Wall Street Journal that I read this morning, What's at Stake in the Greek Vote, summarizing the likely outcome of the situation if a Euro exit looks likely after the election: ... we will see a full-fledged bank run. Greek banks would collapse ... The market exchange-rate would likely be two or three drachmas to the euro, which would double or triple the Greek price of imported goods within a few days. Prices of assets, including real-estate assets, would crumble. Those who moved their deposits abroad would be able to buy these assets cheaply, leading to a significant, regressive redistribution of Greek wealth. In short, you'd lose about two-thirds of your savings unless you were storing them somewhere safe from the conversion. The article also predicts difficulty importing goods (other nations will demand to be paid in euro, not drachma) leading to disruption of trade and various supply shortages.",
"title": ""
},
{
"docid": "ed038e26e5efea7e3bd88d6f5689b257",
"text": "> The European economy was not utterly doomed before the Euro, therefore the fall of the Euro does not doom their economy. I'm not sure how that's related at all. Just because at some random point in time, the European economy was doing OK, doesn't mean that it will definitely be ok again in the future after a jarring multi-national currency shift. There are tons of other factors in play. First of all, who's going to accept drachma again? What is it worth? What about pesata and lira? These currencies haven't been used in over a decade. Who is going to value them? Who is going to accept them? What happens when the Greeks default? When their pension checks start bouncing? This is what Germany is fearing. Who is going to buy their products when there is a major currency crisis going on?",
"title": ""
},
{
"docid": "7cdaadc6c03da77b13a3596a89844273",
"text": "Rising rates is going to counteract the asset bubble and Draghi & the rest of the ECB are well aware of this. Now that Spain & Italy got their shit together they're going to go full steam ahead. Also Germany specifically is in trouble given its large companies such as BASF and others are threatened as companies on countries globally are consolidating and a focus by domestic experts on the trade deficit the U.S. holds with Germany. The European economy will be fine. Certain European assets too, but do not be too sure on the DAX.",
"title": ""
},
{
"docid": "652a441b503ccae88a469cfbf4f0a0d6",
"text": "I can't think of any specifically, but if you haven't already done so it would be worthwhile reading a textbook on macro-economics to get an idea of how money supply, exchange rates, unemployment and so on are thought to relate. The other thing which might be interesting in respect of the Euro crisis would be a history of past economic unions. There have been several of these, not least the US dollar (in the 19C, I believe); the union of the English and Scottish pound (early 1600s); and the German mark. They tend to have some characteristic problems, caused partly by different parts of the union being at different stages in an economic cycle. Unfortunately I can't think of a single text which gathers this together.",
"title": ""
},
{
"docid": "c4d799f952082cf6768813a8df4b3127",
"text": "The Swiss franc has appreciated quite a bit recently against the Euro as the European Central Bank (ECB) continues to print money to buy government bonds issues by Greek, Portugal, Spain and now Italy. Some euro holders have flocked to the Swiss franc in an effort to preserve the savings from the massive Euro money printing. This has increased the value of the Swiss franc. In response, the Swiss National Bank (SNB) has tried to intervene multiple times in the currency market to keep the value of the Swiss franc low. It does this by printing Swiss francs and using the newly printed francs to buy Euros. The SNB interventions have failed to suppress the Swiss franc and its value has continued to rise. The SNB has finally said they will print whatever it takes to maintain a desired peg to the Euro. This had the desired effect of driving down the value of the franc. Which effect will this have long term for the euro zone? It is now clear that all major central bankers are in a currency devaluation war in which they are all trying to outprint each other. The SNB was the last central bank to join the printing party. I think this will lead to major inflation in all currencies as we have not seen the end of money printing. Will this worsen the European financial crisis or is this not an important factor? I'm not sure this will have much affect on the ongoing European crisis since most of the European government debt is in euros. Should this announcement trigger any actions from common European people concerning their wealth? If a European is concerned with preserving their wealth I would think they would begin to start diverting some of their savings into a harder currency. Europeans have experienced rapidly depreciating currencies more than people on any other continent. I would think they would be the most experienced at preserving wealth from central bank shenanigans.",
"title": ""
},
{
"docid": "9436fc2ca722cf39549c45710f53c2c0",
"text": "It's slightly more complicated than that. Usually a country that was in Greece's situation would be able to use inflation to devalue their currency which would have the effect of lowering the value of the government's debts and also of making Greek prices more competitive in the international market. Or they could use quantitative easing to inject cheap cash into the economy to help stimulate it. Because Greece is on the Euro, however, they have no control over their own currency and their options are highly limited. Additionally, when you join the EU, especially the Eurozone, that's supposed to come with additional internal responsibilities, but it's also supposed to come with additional external ones as well. Greece has a responsibility to get its shit together, but the whole point is that more financially stable countries have a responsibility to help them. Right now that means Germany; they're the ones with the greatest control over the Euro and they're shying away from their duties. If the rest of Europe didn't want to risk ending up in this position they shouldn't have let Greece into the Eurozone.",
"title": ""
},
{
"docid": "3e27dbab65c841fe330d918640d3b114",
"text": "\"> Just because at some random point in time, the European economy was doing OK, doesn't mean that it will definitely be ok I'm not claiming it will be \"\"definitely be ok\"\". definitely ok != utterly doomed. > What happens when the Greeks default? If they were paying in drachma, they wouldn't default. They'd print more drachma and inflation would occur. That's how currency imbalances adjust. Germany wants it both ways. They want a stable Europe-wide currency but they don't want a Europe-wide economy, they want their economy isolated from the problems in the rest of Europe. Germany should leave the Euro.\"",
"title": ""
}
] | fiqa |
6868bc0f581131d38934967f9f472389 | How do the wealthy pay for things? | [
{
"docid": "b23d1bc1dc22e8aef985a8bf65abb967",
"text": "\"This is second hand information as I am not a millionaire, but I work with such people everyday and have an understanding of how they handle cash: The wealthy people don't. Simple. Definitely not if they don't have to. Cash is a tool to them that they use only if they get benefit of it being a cash transaction (one of my friends is a re-seller and he gets a 10% discount from suppliers for settling lines using cash). Everything else they place on a line of credit. For people who \"\"dislike\"\" credit cards and pay using ATM or debit cards might actually have a very poor understanding of leverage. I assure you, the wealthy people have a very good understanding of it! Frankly, wealthy people pay less for everything, but they deserve it because of the extreme amount of leverage they have built for themselves. Their APRs are low, their credit limits are insanely high, they have longer billing periods and they get spoiled by credit card vendors all the time. For example, when you buy your groceries at Walmart, you pay at least a 4% markup because that's the standardized cost of processing credit cards. Even if you paid in cash! A wealthy person uses his credit card to pay for the same but earns the same percentage amount in cash back, points and what not. I am sure littleadv placed the car purchase on his credit card for similar reasons! The even more wealthy have their groceries shipped to their houses and if they pay cash I won't be surprised if they actually end up paying much less for fresh (organic) vegetables than what equivalent produce at Walmart would get them! I apologize for not being able to provide citations for these points I make as they are personal observations.\"",
"title": ""
},
{
"docid": "17e78480112a308574692e1fc00fecfe",
"text": "\"While you would probably not use your ATM card to buy a $1M worth mansion, I've heard urban legends about people who bought a house on a credit card. While can't say its reliable, I wouldn't be surprised that some have actual factual basis. I myself had put a car down-payment on my credit card, and had I paid the sticker price, the dealer would definitely have no problem with putting the whole car on the credit card (and my limits would allow it, even for a luxury brand). The instruments are the same. There's nothing special you need to have to pay a million dollars. You just write a lot of zeroes on your check, but you don't need a special check for that. Large amounts of money are transferred electronically (wire-transfers), which is also something that \"\"regular\"\" people do once or twice in their lives. What might be different is the way these purchases are financed. Rich people are not necessarily rich with cash. Most likely, they're rich with equity: own something that's worth a lot. In this case, instead of a mortgage secured by the house, they can take a loan secured by the stocks they own. This way, they don't actually cash out of the investment, yet get cash from its value. It is similarly to what we, regular mortals, do with our equity in primary residence and HELOCs. So it is not at all uncommon that a billionaire will in fact have tons of money owed in loans. Why? Because the billions owned are owned through stock valuation, and the cash used is basically a loan secured by these stocks. It might happen that the stocks securing the loans become worthless, and that will definitely be a problem both to the (now ex-)billionaire and the bank. But until then, they can get cash from their investment without cashing out and without paying taxes. And if they're lucky enough to die before they need to repay the loans - they saved tons on money on taxes.\"",
"title": ""
},
{
"docid": "10c0f678060e4a75b6b7b5a802c51848",
"text": "I was once the personal assistant to two wealthy NYC sisters. They did not pay for anything. For example, if we were riding the subway, I would pay, and be reimbursed by the Company. They had multiple residences and investment properties. Each property was purchased through a separate Limited Liablity Corporation, and paid for by the Company. When they purchased, donated or sold art, it was through their family Foundation. Their income primarily came from a draw of funds from the family estate, although one of them worked as an architect, which provided further income.",
"title": ""
}
] | [
{
"docid": "323c75c34ba054d6ba99ed51108702ae",
"text": "Right, just like computers are only available to the upper class. In reality, the wealthy would just be the initial market. As their demand causes supply increases/cost innovation, prices will inevitably fall (and philanthropy almost certainly rise), which would make the enhancements available further down the economic ladder, which cycles the process again.",
"title": ""
},
{
"docid": "51ace463ec495857250cc8631b9ee890",
"text": "I got that notion from Max Kaiser, his ideas about that are mostly about interest rate apartheid - banks and rich people get money at zero interest, we pay 9, 10, 30%. I think it involves everything from how we are seen in the eyes of the law to assuming risk, etc. We are expected to play by the rules and they are not.",
"title": ""
},
{
"docid": "49dfe3479f965f01e8864a3284d28d6a",
"text": "The 'uber' rich because they take chances that others aren't willing to. They also are rich because they make products people like. Take for instance Apple [or whatever smartphone/computer brand your so privileged to own] ,like them or not they make a great product (determined by the market). If the market didn't like it (Microsoft Zune) then it'll fail. As for the risk aspect, starting a business takes a TON of risk, and only after much strife and hardships can a business have potential to reach great heights. You think starting Popeyes's was easy? You think franchising is easy? Absolutely not! You sit there in your privileged high-horse saying the rich should pay because they make something you like and helped to succeed. It's like wanting something for free. Buy phone -> Others buy phone -> Complain about the rich and vote for UBI -> Get extra $ you wouldn't have gotten otherwise-> Spend that extra $ on the next years phone",
"title": ""
},
{
"docid": "f710cf70297ba675d3fe3c1fc9557140",
"text": "And rich person is more likely not to choose subpar government services when they can choose something else. Meaning if the were allowed to opt out of this monopoly service provider they would. Meaning the only ones who want government services is those who want someone else to pay for it for them.",
"title": ""
},
{
"docid": "4dceaf523ac9a71169632ad3f2e7dde8",
"text": "\"Most well-off people have investments which they have held for long periods of time, often of very substantial value such as a large part of a company. They also have influence on legislators and officials through various social contacts, lobbyists, and contributions. They managed to convince these law makers to offer a lower tax on income derived from sales of such investments. The fig leaf covering this arrangement is that it \"\"contributes to the growth of economy by encouraging long-term investment in new enterprises.\"\"\"",
"title": ""
},
{
"docid": "c5b754eb59d20a461ed839fe1d464e59",
"text": "The prices we pay for goods and services is set by our level of income because we have a huge choice of price levels from luxury to economy class and DIY. This was true of rent and mortgage payments before the real estate bubble. There is still some choice though from a tiny house or trailer to a mansion. None of these are one set demand decided by someone else as with land value tax. Many people like where they live and want to stay there. Those people create a cross generational community. Land and homes must be affordable and we should have as much freedom about what we do with our homes as possible.",
"title": ""
},
{
"docid": "b6046d9a59d22cd2c94acdd6a8042811",
"text": "Exactly. People don't seem to realize that a lot of the things they take for granted as being provided by the government were more than adequately provided by private charities until the government stepped in and 'fixed' things...or else they do get it but sweep it under the rug and mumble something about 'its more efficient this way' to justify intruding on the private affairs of others. This is why the founding fathers hated democracy -- the Athenians had no concept of rei publicae.",
"title": ""
},
{
"docid": "94e274d66650337c888a371d404e2d7b",
"text": "People just love becoming more well-off than they currently are, and one of the ways they do it is with leverage. Leverage requires credit. That desire is not exclusive to people who are not already well-off. For a well-off person who wants to become more well-off by expanding their real estate ventures, paying cash for property is a terrible way to go about it. The same goes for other types of business or market investment. Credit benefits the well-off even more greatly than it benefits the poor or the middle-class.",
"title": ""
},
{
"docid": "4aa71bc5470147597db83be59cdb3e56",
"text": "\"The scenario you mention regarding capital gains is pretty much the core of the issue. Here's a run-down from PolitiFact.com that explains it a bit. It's important to focus on it being the tax rate, not the tax amount (which I think you get, but I want to reinforce that for other readers). Basically, most of Buffett's income comes from capital gains and dividends, income from investments he makes with the money he already has. Income earned by buying and selling stocks or from stock dividends is generally taxed at 15 percent, the rate for long-term capital gains and qualified dividends. Buffett also mentioned that some of the \"\"mega-rich\"\" are hedge fund managers \"\"who earn billions from our daily labors but are allowed to classify our income as 'carried interest,' thereby getting a bargain 15 percent tax rate.\"\" We don't know the taxes paid by Buffett's secretary, who was mentioned by Obama but not by Buffett. Buffet's secretary would have to make a high salary, or else typical deductions (such as the child tax credit) would offset taxes owed. Let's say the secretary is a particularly well-compensated executive assistant, making adjusted income more than $83,600 in income. (Yes, that sounds like a lot to us, too, but remember: We're talking about the secretary to one of the richest people in the world.) In that case, marginal tax rates of 28 percent would apply. Then, there would be payroll taxes of 6.25 percent on the first $106,800, money that goes to Social Security, and another 1.45 percent on all income, which goes to Medicare. The secretary’s overall tax rate would be lower than 28 percent, since not all the income would be taxed at that rate, only the income above $83,600. Buffett, meanwhile, would pay very little, if anything, in payroll taxes. In the New York Times op-ed, Buffett said he paid 17.4 percent in taxes. Thinking of the secretary, it gets a little complicated, given how the tax brackets work, but basically, people who make between $100,000 and $200,000 are paying around 20 percent in federal taxes, including payroll and income taxes, according to an analysis from the nonpartisan Tax Policy Center. So in this case, the secretary's rate is higher because so much of Buffett's income comes from investments and is taxed at the lower capital gains rate. Here's Buffet's original Op-Ed in the NYT for those of you that aren't familiar.\"",
"title": ""
},
{
"docid": "62e95a628269a92d9a6eb88cf35f5c91",
"text": "\"Partly I suspect this is selection bias. You say you see so many luxury cars go by. But if you're looking for them, you're going to notice them. Have you calculated the actual percentage? Do they make up 50% of the cars that pass a specific point in a specific period of time? Or just 10% if you really counted? You say you live in Baltimore county, Maryland. That's a relatively wealthy area, so I'd expect the percentage of luxury cars to be higher than the national average. You'd likely see considerably fewer in the backwoods of Mississippi. That said, some people who own luxury cars can't really afford them. I'm reminded of a wonderful TV commercial I saw recently where a man is showing off all his material goods, he talks about his big house, and his swimming pool, and his fancy car, with a big smile on his face, standing tall, and generally looking proud and happy. And then he says, \"\"How do I do it?\"\" And suddenly his expression changes to complete despair, he slumps down, and says, \"\"I'm in debt up to my eyeballs.\"\" It turns out to be a commercial for a debt-counseling service. Some people put very high value on owning a fancy car and are willing to sacrifice on other things. If having a big fancy car is more important to you then, say, having a nice house or the latest computer or a big screen TV or dining out more often or going on more expensive vacations or whatever you have to give up to get the car, well, that's your decision. Personally I don't care much about a fancy car, I just want something that gets me where I want to go. And I've always figured that with an expensive car, you have to constantly worry about getting in an accident and damaging or destroying it. If you put your money into a big fancy house, at least houses rarely collide with each other. Personally, I make a nice income too. And I have a $500/month mortgage and zero car payment because I drive a 2003 pickup that I bought with cash. But I have two kids in college and I'm trying to get them through with no debt, that's where all my money is going.\"",
"title": ""
},
{
"docid": "16cae3c6ef9c86ec505e60790d2ac9ac",
"text": "The rich pay more in taxes. It would be hard to cut taxes in a way that *didnt* help the rich. I'm more concerned with what it does for the middle and lower classes. I don't care that much if it helps the rich. EDIT: Okay, so let's say you give the top third of the population (by income) a 1% income tax cut. The middle third got a 5% cut, and the bottom third got a 10% cut. In dollar value, the rich are still getting a larger cut, simply by virtue of how much they pay in taxes. Someone made a point about property tax. Speaking very generally, poor people rent and rich people own. So a property tax inherently benefits the wealthy, because they own more property. Certainly any kind of corporate or capital gains cut would benefit the wealthy, since they own the corporations and are more heavily invested. Even a sales tax cut would benefit the wealthy more than the non-wealthy, simply because they spend more money. But what frustrates me is how hung up people get on the fact that something is good for the wealthy, (such as with the headline of OPs article) as if we should actively try to avoid helping anyone rich. As I stated above, I don't care that it helps the rich, as long as it's helping the rest of us, too. And if the rich are getting a bigger benefit than I am by virtue of being rich, I'm not bothered, because I can do math.",
"title": ""
},
{
"docid": "bb309bf8d35c9118d1a2dc3649ee6875",
"text": "Those billionaires are often billionaires because they make it their job to take my hard earned money, which I give them willingly, and make it worth more than inflation in fifty years so that I can retire with dignity, comfort and peace. If you tax the hell out of that then people are either not going to do it, or it will be prohibitively expensive to do so, meaning that the 401(K) system makes less money. Also, wtf did the rich people do to deserve to be punished?",
"title": ""
},
{
"docid": "e3feabf3c5377f19e11874057aade2f8",
"text": "\"This article is also light on sources. It overstates inherited wealth. People who work with rich people know the saying \"\"shirtsleeve to shirtsleeve in three generations\"\". There is a proclivity of rich descendants to squander their fortune, which totally negates a majority of this article. In sum, this article and news source insists on itself\"",
"title": ""
},
{
"docid": "51d4ff1cf3835ae0b7b0761fa4fe207b",
"text": "First of all, it's not the 1% that run things. It is more like the 0.1%. They run things because they run the government, not because they cannot be challenged in the market. We should expect the courts to be less corruptible because their proceedings take place in public, whereas the Executive bureaucracy and most of the Congressional machinations occur behind closed doors. Deals are made that we have no knowledge of. That is where the 0.1% operates. They are as afraid of the light of day as vampires. There is usually a cycle of wealth that lasts three or four generations unless that cycle is interrupted by collusion with the government. Europe's rich stayed rich because they became the government. Their thefts were sanctified by making them nobility and protecting them with the state. Look at the makeup of Obama's inner circle. It is the banking nobility. Those banks and banksters would all be broke now if they had not harnessed the government to steal from thee and me to give to them. Small government that debates everything in the open will not protect the very rich. Without government protection their wealth will return to the general pool in three generations.",
"title": ""
},
{
"docid": "03d36bcfc0701893351e08d872295887",
"text": "Some good answers already, but let me add a TL:DR version. Brokers work like a special type of bank account where you can deposit or withdraw money. The major difference is that they also give you the ability to buy/sell investments with the money in your account which you can do by either calling them or using their website. Important: Many investments you will make through a broker(e.g. stocks) are not insured against losing value like the money in your bank account.",
"title": ""
}
] | fiqa |
0993c183c1b917576497318629f6d459 | How should one refuse to father in law (Chinese) when he wants to borrow money? | [
{
"docid": "5a709748c1e96a752fe134116569609c",
"text": "\"In these situations, one solution is to use the \"\"I was just about to ask you the same thing...\"\" response. This is kind of a famous way to deal with people asking you for money, whether it's someone asking to borrow \"\"$10 at lunch time\"\" or \"\"$3000 for a car\"\" or the like. So: Person X asks you for money, say $2000. Your reply: Ah, that's bad luck, I was just about to ask you the same thing... Follow this immediately - just keep talking - by launching in to a really incredibly detailed discussion of why you need to borrow money (pick a slightly larger amount, slet's ay $3500). Just \"\"keep talking\"\" and don't let the other person get a word in. Go in to great detail about just what you need the $3500 for and why. It's a good trick.\"",
"title": ""
}
] | [
{
"docid": "0a8334685586359d464d1eee78129ba8",
"text": "\"Assuming United States; rules may be wildly different elsewhere... The \"\"family loan\"\" trick essentially lets you amortize a gift over multiple years of gift allowance and hopefully dodge gift tax, at the cost of having to pay income tax on the interest you must charge on the loan. The main advantage is that it lets you transfer all the money up front, rather than in $17,000-a-year-per-person-per-person chunks. Let's take the normal case first. Any one person can give any one person up to a specified amount (currently $17k, I believe,) without incurring gift tax. Note that this is counted per person, not per household; you and your spouse could each give $17k per year to each of your son and his spouse under this rule, adding up to $68k per year total. The family loan dodge consists of making them a loan of the money at the mandated minimum interest rate to make it a legal loan (something like 0.3% APR last time I looked), setting the repayment schedule so their payments each year including interest come out to less than you can gift them with tax-free, and then making that gift by paying (yourself) those payments on their behalf. You do need to pay income tax on the portion of those payments that represents interest income, but at that low rate this is a minor cost for the convenience. You'd also want to set up your will to cover what happens if you die with them still owing money on the loan. And this, I believe, is where you will really need expert advice if you go this route, to minimize the government's cut at that time. There may be better answers. If you are talking about this much money, you owe it to yourself to purchase expert advice from someone who has training and experience n this area, rather than taking free advice from the Internet that is likely to cost you much more in the long run. This is a situation where you can't afford not to hire a pro. (For example, I have no idea how trusts might or might not fit your needs.)\"",
"title": ""
},
{
"docid": "5ea0d2729ad6a4532f928aabff6b2bd6",
"text": "If your intentions are honorable and you intend to pay it back in full and with interest, doesn't matter where you borrow the money from. But as a rule, family/friends and money don't mix.",
"title": ""
},
{
"docid": "cd08117069dd39c471f4e395776830a6",
"text": "You are using interchangeably borrow/loan and gift. They are very different. For the mortgage company, they would prefer that the money from friends and family be a gift. If it is a loan, then you have an obligation to pay it back. If they see money added to your bank accounts in the months just before getting the loan, they will ask for the source of the money. Anything you claim as a gift will be required to be documented by you and the person making the gift. You don't want to lie about it, and have the other person lie about it. They will make you sign documents, if they catch you in a lie you can lose the loan, or be prosecuted for fraud. If the money from friends and family is a loan, the payments for the loan will impact the amount of money you can borrow. From the view of the IRS the gift tax only comes into play if during one calendar year a person makes a gift to somebody else of 14,000 or more. There are two points related to this. It is person-to-person. So if your dad gives you 14K, and your mom gives you 14K, and your dad gives your wife 14k and your mom gives your wife 14K; everything is fine. So two people can give 2 people 56K in one year. Please use separate checks to make it clear to the IRS. If somebody gives a gift above the exclusion limit for the year, they will have to complete IRS form 709. This essentially removes the excess amount from their life time exclusion, in other words from their estate. Nothing to worry about from the IRS. The bank wants to see the documentation. Also you are not a charity, so they can't claim it as a donation. Why do you have 6,000 in cash sitting around. The mortgage company will want an explanation for all large deposits so you better have a good explanation. From the IRS FAQ on Gift Taxes: What can be excluded from gifts? The general rule is that any gift is a taxable gift. However, there are many exceptions to this rule. Generally, the following gifts are not taxable gifts. Number 3 on the list is the one you care about.",
"title": ""
},
{
"docid": "0f422c0f802ac7f1df127f96a2e1c1e2",
"text": "It's perfectly legal for your brother to make a loan to you. However those two transactions are separate. If he defaults on the LC loan because you didn't pay him, it's his responsibility. If you default on your loan with him, you've got big problems. Money + family/friends = scary.",
"title": ""
},
{
"docid": "c9fabb1dae4afdd4f326ff0595b5be42",
"text": "Echoing the others, never lend money to a friend or family member, just give it to them. If you must have a contract in place then consider it a pay it forward type contract where the friend simply gives the same amount to someone in need at a future date. The value of the friendship can never be measured, but it surely will be diminished by the amount of the loan between the two of you.",
"title": ""
},
{
"docid": "471cf77dadff4da873d468a9f47e4634",
"text": "Trying to forcefully reclaim the money will ruin the relationship. In general it's bad practice to loan money to family.",
"title": ""
},
{
"docid": "147d3f1cc3989a3f208c573d1303da36",
"text": "I recently lent some money to my sister. While I generally agree with Phillip that lending to family and friends should be avoided, I felt I needed to make an exception. She really needed the cash, and my husband and I agreed that we would be ok without it. Here are some guidelines I used that may be helpful to others: In the end, I think lending to family and friends should be avoided, and certainly should not be done lightly, but by communicating clearly and directly, and keeping careful records, I think you can help someone out and still avoid the lingering awkwardness at future Thanksgivings when one person is convinced that the other owes one more payment, and the other swears it was paid in full.",
"title": ""
},
{
"docid": "d77db73e41b716cd2cce4a56d9ae8161",
"text": "What you are positioning as a loan was not a loan at all. Your father bought something to be delivered in the future. Your aunt does not want to deliver it, so she should buy it back at whatever the current market value is. What is the price that your dad believes her share of the inheritance is currently worth? Is that based on actual appraisals and some sort of objective audit? If so, your aunt doesn't have much of a case. If not, then she could seek an audit to bolster her bargaining position. How much did your aunt benefit from having a place to live for the last 15 years. Was that benefit greater than some larger amount of money at an unknown future date? That's probably why she sold her inheritance 15 years ago. Now that the inheritance looks like it is going to be available soon, she wants to trade back after having enjoyed the use of your father's money. That might be okay, but simply paying back the original sum with inflation, but without interest, doesn't seem fair to your father. She may not be able to afford to give any more than what she is offering, in which case, she might want to consider offering the original sum now and some portion of her inheritance as interest on that original sum. I'm not taking sides in this one. If it were one of my siblings, I'd be inclined to give the benefit of the doubt and take a smaller amount back if I felt that the lesson was learned (and if I felt that he/she would make wise use of my gift to him/her). I have no idea what your father's current economic situation is, nor am I aware of any other baggage that might influence his feelings about his sister. It's as likely as not that money isn't really what is bothering him, in which case, the amount she repays may have little to do with bridging the divide between them. You might need to ask different questions in the Interpersonal Skills stack if you want to help your father feel better.",
"title": ""
},
{
"docid": "daaca503aa30d95ef943eb99ce5fbee2",
"text": "There are two Questions: Financial institutions do not care about your nationality, only your ability to pay over time. For long term debt the lender will want assurances that the borrower has the ability and means to pay the debt over time. A legal resident in the US should have no more difficulty obtaining financing than a citizen under similar life circumstances. The Lender is also under legal obligation to confirm that the borrower is who they say they are, will have the ability to pay over time AND have no malicious intent in the purchase. Persons who do not have legal status in the US, AND who do not have the means to pay for property outright will have difficulty obtaining financing as they will have trouble establishing the requirements of the Lender. This is simple math, a lender will be reluctant to lend to any person who is more likely to have difficulty paying the obligation than another. In your case Your father would be an unlikely candidate for a mortgage because he cannot establish his legal status nor can he guarantee that he will have the legal right to earn a means to pay the loan back. This puts the lender at risk both of losing the money lent AND losing the right to repossess the property if the borrower doesn't pay. Despite all of the obstacles I have indicated above, it is still possible for your father to purchase property legally, but the risk and the cost go way up for him as a borrower. There may be sellers willing to finance property over time, but your father's status puts him at a disadvantage if the seller is not honest. There may be community coalitions which can help you work through the challenges of property ownership. Please see these related articles",
"title": ""
},
{
"docid": "b24150f078a397284069287170be6afd",
"text": "> My wife is trying to start a business. She has no experience at all. Don't put in too much money. Use this as a chance to learn because she's going to have a bad experience. > She is working with the husband of a friend who is importing products from China. Red flag #1. > He is in China and his wife is in the USA on a tourist visa (no work allowed but she works) Red flag #2. > I have caught this guy lying or being way less than transparent many times. You're telling me that a guy using his wife to illegaly conduct business in the US isn't above board? I'm shocked. Shocked, I tell you. > I think he thinks others are stupid and can not easily see his misdeeds. That could be a red flag, or he could be correctly reading the situation. You said your wife has no experience in this arena, so why would he listen to her? > “You tried to screw with me and my wife too many times so F you” Red flag #3. Don't mix business with emotions. > I am asking for a settlement or I will do everything in my power to totally screw up his life Red flag #4. > It will never stop or improve if the second party has a less than acceptable level of honesty and transparency. This is why contracts and lawyers exist. In business, everyone thinks they're making out better than the person on the other end of the table. If they didn't, they would ask for more. There can be mutually beneficial situations, but showing all of your cards is a great way for them to be used against you during negotations. > It is a startup not big money, but us being in the USA as lawful citizens (me USA born, my wife naturalized Chinese ), we hold the risk here. Yeah, don't knowingly break the law. The risk is too high for you. > I lived in China for ten years. Over there, the Chinese do, in almost all cases, all they can do to screw foreigners Red flag #5. Why do you want to be in business with a group you think will almost always exploit you? > My wife thinks that because they are Chinese (the other party), I should be willing to accept this behavior. I totally disagree. Red flag #6. Don't use stereotypes to make judgment calls. > My wife wants to have her own company very badly and she is very disappointed. Life is full of disappointment, and you can't wish for success. Well, you can, but you end up in situations like these. > Do you agree when dealing with lying business “partners” if the offenses continue, even after a warning, that all bets should be off and one should change into “screw them” mode and claw back all possible money/power via all available legal resources? Say it with me. CONTRACTS! CONTRACTS! CONTRACTS! I'm not talking about a quick signature on a napkin. I'm talking about vetted and formalized. You have clear expectations. You have remediation. You have timeframes. If they don't deliver the promised expectation then you sue them. If you act on emotions then you are likely to do yourself more harm than good. If you don't think you can recover what you're due, you shouldn't be in business with a shady operator to begin with. > Comments? Talk to a lawyer. You need to understand your risk and liability. If you're fine, stop investing money into this venture. You'll be taken for all you're worth.",
"title": ""
},
{
"docid": "7f095485f8cb5da37475c27ba9a17d51",
"text": "I say to always say yes when asked to loan money to a friend or family member as long as you have the money to do it with. That is the key: having th emoney to do it with. And - don't expect to get it back ever. If you do, great. When you don't, your expectation was met. Although not often, I've lent money to friends and most of the time have been paid back. $10, $300, more. For the times when I was not, I do remember but I don't hold it against the person. Money is only money, after all. Friends are precious and worthy of your aid, support, and respect. If they weren't, then one must ask if they are really a friend. - I have also had to borrow money once for a non-trivial amount. My family, who can easily afford it, refused but a friend helped me at a critical juncture. I offered to make a contract but my friend said no, pay me back when you can. I have tried to start paying back a couple of times but my friend refused telling me to wait until I was more financially stable. - If I am ever lucky enough to be in the position my friend is in, I will emulate this behavior and do the very same thing - and love doing it all the while.",
"title": ""
},
{
"docid": "45185420c394230f6ea4c738968825fd",
"text": "To understand this fully one would need to understand quite a few things. Not in scope here. In short, whenever China sells goods to US, it gets USD as most of the trades are in USD. China uses this money to buy other things it needs like Oil etc. After this they still have quite a bit of USD left with them. The money is left with them because US is buying more things from China and selling less things to China. This creates a surplus USD with China. So if US were to borrow money from China or any other country, it would be this excess money. Ofcourse how money gets created in first place is a different topic altogether.",
"title": ""
},
{
"docid": "0d0c732d4120cc999a357aa7c502dc79",
"text": "Yea, honestly taking in debt is pretty much never a good idea. Even borrowing from your own family can cause issues. It better be a very serious issue if you're trying to borrow and use money you don't have. Especially if we're talking about figured that are high relative to your income stream and/or that of the person you're borrowing from if it's not an official entity.",
"title": ""
},
{
"docid": "f62e1d6e5427c04a8259add514d801be",
"text": "I struggle to see the value to this risk from the standpoint of your mother-in-law. This is not a small amount of money for a single person to lend to a single person ignoring your personal relationship. Right now, using a blended rate of about 8% and a 5 year payment period, your cost on that $50,000 is somewhere in the neighborhood of $11,000 with a monthly payment around $1,014. Using the same monthly payment but paying your MIL at 5% you'll complete the loan about 3.5 months sooner and save about $5,000, she will make about $6,000 in interest over 5 years against a $50,000 outlay. Alternatively, you can just prioritize payments to the more expensive loans. It's difficult to work out a total cost comparison without your expected payoff timelines and amount(s) you're currently paying toward all the loans. I'm sure a couple hours with a couple of spreadsheets could yield a plan that would net you a savings substantially close to the $5,000 you'd save by risking your mother in law's money. A lot of people think personal lending risk is about the relationship between the people involved, but there's more to it than that. It's not about you and your wife separating, it's not about the awkward dinner and conversations if you lose your job. Something might physically happen to you, you could become disabled or die. Right now, that's an extremely diversified and calculated risk taken by a gigantic lender. Unless your mother in law is very wealthy, this is not nearly enough reward to assume this sort of risk (in my opinion). Her risk FAR outpaces your potential five year savings. IF you wanted to pursue this as a means of paying interest to a family member rather than the bank, I'd only borrow an amount I budgeted and intended to pay within this single year. Say $10,000 against the highest interest loan.",
"title": ""
},
{
"docid": "1165f18fe6b2faae232ce9041dd42660",
"text": "I suppose it depends on the circumstances, but I wouldn't advise it. If you default on a loan to the bank it might ruin your credit, if you default to a family member it has the potential for much more damage in the form of fostering bad feelings and hurt the relationship.",
"title": ""
}
] | fiqa |
52052958fbad7566ee7853d334a54ff7 | Friend was brainwashed by MLM-/ponzi investment scam. What can I do? | [
{
"docid": "288d276228f14c790a00ed38f2cbcab0",
"text": "Go to the police. This is fraud and is illegal. Sure, this will hurt your friend but better now then when he starts abusing of his position to fraud even more people... Original comment by Bakuriu sorry for not giving credit",
"title": ""
},
{
"docid": "5b93a0cb7b43428d2589f99299d68934",
"text": "\"If this is your friend, and he that convinced he will \"\"get rich\"\" from this then there's really nothing you CAN do. You've obviously done your best to explain the situation to him, but he's been caught up in their sales pitch, and that's more convincing to him. I worked in sales for many years, and the answers he gives you (the one about not needing to know the details of how your smartphone works is a classic variation of typical objection-handling that salespeople are taught) proves that he has been sucked in by their scheme. At this stage, all you're going to do is ruin your friendship with him if you continue to press the matter, because he has made it clear he can't be convinced that this is anything other than legitimate. The reality is, he is probably in too deep at this stage to just walk away from it, so he has to convince himself that he made a wise choice. Schemes like this use a \"\"scarcity\"\" approach (there's only so much to go around, and if you don't get yours now then someone else will get it) coupled with ego-boosting (boy, Mr. Prospect, this is such a great opportunity, and you're one of only a few who are sophisticated enough to understand and take advantage of it) to get people to lower their guard and not ask a whole lot of probing questions. Nobody wants to feel stupid, and they don't want others to think they're stupid, so these schemes will present the information in such a way that ordinarily prudent questions come across as sounding dumb, making the questioner seem not so smart. Rather than walking away from it, peoples' pride will sometimes make them double down on it, and they'll just go along with it to come across as though they get it, even when they really don't. The small payouts at early stages are a classic sign of a Ponzi scheme. Your friend will never listen to you as long as those little checks continue to come in, because to him they're absolute proof he's right and you're wrong. It's those checks (or payouts, however they're doing it) that will make him step up his efforts to recruit other people into the scheme or, worse yet, invest more of his own money into this. Keep in mind that in the end, you really have no power to do anything in this situation other than be his friend and try to use gentle persuasion. He's already made it clear that he isn't going to listen to your explanations about why this is a scam, for a couple reasons. First (and probably greatest), it would be an admission that he's dumb, or at least not as smart as you, and who wants that? Second, he continues to get little checks that reinforce the fact this must be \"\"real\"\", or why else would he be getting this money? Third, he has already demonstrated his commitment to this by quitting his job, so from his point of view, this has become an all-or-nothing ticket to wealth. The bottom line is, these schemes work because the sales pitch is powerful enough to overcome ordinary logic for people who think there just has to be an easy way to Easy Street. All you can do is just be there as his friend and hope that he sees the light before the damage (to himself and anyone else) gets too great. You can't stop him from what he's doing any more than you can stop the sun from rising as long the message (and checks) he's getting from other people keep him convinced he's on the right path. EDIT After reading the comments posted in this thread, I do want to amend my statements, because many good points have been raised here. You obviously can't just sit by and do nothing while your friend talks others into taking the same (or worse) risks that he is. That's not morally right by any measure At the same time however, be VERY careful about how you go about this. Your friend, as you stated, sounds pretty much like he's all in with this scheme, so there's definitely going to be some serious emotional commitment to it on his part as well. Anyone and everything that threatens what he sees as his ticket to Easy Street could easily become a target when this all comes crashing down, as it inevitably will. You could very well be the cause of that in his eyes, especially if he knows you've been discouraging people from buying into this nightmare. People are NOT rational creatures when it comes to money losses. It's called \"\"sunken costs\"\", where they'll continue to chase their losses on the rationale they'll make up for it if they just don't give up. The more your friend committed to this, the worse his anxieties about losing, so he'll do whatever he has to in order to save his position. This is what gamblers do and why the house does so well for itself. Some have suggested making anonymous flyers or other means of communicating that don't expose you as the person spreading the message, and that's one suggestion. However, the problem with this is that since the receiver has no idea who sent the message, they're not likely to give it the kind of credibility or notice that they would to something passed to them by a person they know and trust, and your anonymous message will have little weight in the face of the persuasive pitch that got your friend to commit his own money (and future). Another problem, as you've noted, is that you don't travel in the same circles as the people he's likely to recruit, so how would you go about warning them? How would they view their first contact with you when it comes with a message not to trust what someone else they already know is about to tell them? Would they write it off as someone who's butty? Hard to tell. Another huge ploy of these schemes is that they tend to preemptively strike at what you propose doing -- that is, warning people to stay away. They do this by projecting the people giving the warnings as losers who didn't see the opportunity for themselves and now want to keep others away from their own financial success. They'll portray you as someone who isn't smart enough to see this \"\"huge opportunity\"\", and since you can't understand it, you don't think anyone else does either. They'll point out that if you were so good with finances, why aren't you already successful? These guys are very good, and they have an answer for every objection you can raise, whether its to them or to someone else. They've spent a long time honing their message, which makes it difficult for anyone to say something persuasive enough to sway others away from being duped. This is a hard path, no doubt. I hope you are able to warn others away. Just be aware that it may come at a cost to you as well, and be prepared for what that might be. I hope this helps. Good luck!\"",
"title": ""
},
{
"docid": "138650c4890cb9a76d2737a5d6ab1288",
"text": "\"I will disagree with some of the other answers here. In my view, the most important dimension of the situation is not your friend's potential loss but the potential losses of the people he may convince by using his position as youth group leader, etc., to draw more them into the scam. Exactly how to handle this depends on many factors that aren't mentioned in your question (and probably rightly so, as this aspect of the situation moves beyond personal finance). For instance, if your friend is a \"\"pillar of the community\"\" who is widely trusted, and you are not, there may be little you can do, since people will believe him and not you. If you have some influence over the groups he is trying to recruit, you can attempt to provide a counterweight to his recruitment activities. Again, how to do this depends on other factors, such as how he is recruiting them. If he is just privately contacting individuals and inviting them to these meetings, you may have to just keep your eyes peeled for anyone who seems tempted and try to dissuade them before they suffer the \"\"brainwashing\"\". If he actually tries to do some sort of public recruitment (e.g., holding a meeting himself), you could try to inject doubt by, e.g., attending and asking probing questions to expose the dangers. If you think the danger is widespread, you could consider taking some more public action, like writing a column in a local paper about this organization. Of course, another major factor is how much you think people stand to lose by this. However, in your question you indicated that your friend has invested \"\"multiple month or years of income\"\". If he intends to pressure others to invest similar amounts, this sounds to me like enough danger to warrant some preventive action. Few people can afford to lose months or years of income, and sadly those most vulnerable to a scammer's siren song are often those who can least afford it. It doesn't sound like a situation where you'd have to devote your life to the cause of stopping it, but if I knew that dozens of people in my community stood to lose years of income, I'd want to make at least a small effort to stop them, rather than just keep my mouth shut. In doing this, you may lose your friendship. However, you stated that your goal is to resolve the situation in a way that is \"\"best with lowest loss of money for everybody\"\". If you really take this utilitarian view, it is likely that you may have to give up on the friendship to prevent other people from losing more money.\"",
"title": ""
},
{
"docid": "7bdff9ed0ed8e5a4578c05b5668c99b8",
"text": "\"Even though this is really a psychology question, I'll try to give you an answer. You do nothing but stay away. What's going on is too small to matter. Bernie Madoff took investor's money and scammed them for $15B. That's B, billion, 9 zeros (Yes, I realize the UK Billion has 12, these are US Billion). Harry Markopolos was on to him, and presented his evidence to the government, but \"\"No one would listen.\"\" In quotes because that's the title of the book he published on his experience. Even Barron's had an article suggesting that Madoff's returns were impossible. Eventually, it came to light. In my own experience, there was a mortgage acceleration product called \"\"Money Merge Account.\"\" It claimed to help you pay off your mortgage in a fraction of the time \"\"with no change to your budget.\"\" For two years or so, I was obsessed with exposing this scam, and wrote articles, nearly every week discussing every aspect of this product. Funny how even though mortgages are math that's pretty easy to explain, few sellers wanted to talk about the math. Using the same logic that you don't need to understand how a car works as long as you know how to drive. There were some people that would write to tell me I saved them the $3500 cost of that product, but mostly I argued with sellers who dismissed every word I wrote as if the math were incomprehensible to anyone but the software guys who wrote it. In the end, I had compiled a PDF with over 60 pages of my writing on the topic, and decided to call it quits. The product was recycled and now is sold as \"\"Worth Unlimited,\"\" but the software is the same. This is all a tangent to your problem. It simply offers the fact that the big scam, Bernie, continued for a long time, and people who were otherwise intelligent, fell for his promises, and didn't want to believe otherwise. The mortgage software had many bloggers writing. Searching on the web found a lot of discussion, very easy to find. People will believe what they wish. Tell an Atheist that God exists, or a believer that He doesn't, and your words will fall on deaf ears. Unfortunately, this is no different.\"",
"title": ""
},
{
"docid": "dc94e748641fbea1f9ec537de1b992ba",
"text": "\"First, there are MLM businesses that are legitimate and are not Ponzi schemes; I actually work with one (I will not name it lest I give the impression of trying to sell here). One thing I learned was how to respond when a prospect raises objections related to the actual scams, which are abundant; the answer being to point out, and you mentioned this yourself, that in an illegitimate scheme, there is no actual product being offered - the only thing money is ever spent on is the expectation of a future profit. Ask your friend, \"\"Would you buy the product this company sells, at the price they ask, if there were not a financial opportunity attached to it?\"\" If not, \"\"How can you expect anyone else to buy it from you?\"\" There are only 3 ways he can respond to this question: he can realize that you're right and get out now; he can change the subject to the concept of making money by climbing the ranks and earning off of a salesforce, in which case it's time to educate him on Ponzi; or he can claim to be able to sell something he doesn't believe in, in which case you should run fat, far away. If he does indicate that he would be a customer even without the chance to sell the product, then offer him the chance to prove it, by giving you one sales pitch on the condition that he is not allowed to breathe a word about joining the business. Do him the courtesy of listening with an open mind, and decide for yourself whether you could ever be a customer. If the possibility exists, even if not today, he has found one of the few legitimate MLM companies, and you should not try to stop him. If not, you'll have to determine whether it's because the product just isn't for you, or because it's inherently worthless, and whether you should encourage or discourage your friend going forward.\"",
"title": ""
},
{
"docid": "0bc1ec1dffc69de084d9bb843f03b221",
"text": "\"So here's the sad truth. He might actually be making a return on his investment. Not because it's right or because the system works, but in all these schemes there are a range of people that actually do make money. In addition to that, there is that fact that he \"\"believes\"\" that he is doing a good thing, and is unwilling to discuss it. So, if he is making, even a tiny return, and really believes that he is making a large return, or that that large return is just around the bend, your never going to convince him otherwise. You have two real options; If he will listen, go though and look at money in v.s. money out. If money out is larger then money in, your screwed. Make sure to point out that he should look at real money in (left a bank account) and real money out (deposited to a bank account). Again be prepared for the fact that he is actually making money. Some people in the pyramid will make money, it's just never as much, or as many people as they make it out to be. Don't attack the system, attack other aspects. Try and argue liquidity, or FDIC insurance. Again not trying to show why the system is bad, but why a investment in foo instead may be better. If nothing else, go with diversify. Never put all your money in one spot, even if it's a really good spot. At least in that case he will have some money left over in the end. That said, your friend may not go for it. May just put on blinders, and may just stick finger in ears. Move to option two. Respect his wishes, and set boundaries. \"\"Ok, I hear you, you like system X, I won't bring it up again. Do me a favor, don't you bring it up again either. Let's just leave this with religion and politics.\"\" If he continues to bring it up, then when he does, just point out you agreed not to discuss the issue, and if he continues to push it, rethink your friendship. If you both respect one another, you should be able to respect each others' decisions. If you can't then, sadly, you may need to stop spending time with one another.\"",
"title": ""
},
{
"docid": "a7164feb9ee4f3426bd83df83e9784f9",
"text": "I believe the only thing you haven't mentioned to him is the possibility that his activity is criminally fraudulent. I would sit him down, and say something substantially similar to the following: We've talked about your investment before, and I know you believe it's fine. I just want to make sure you understand that this is very likely fraudulent activity. I know you believe in it, but you've said you don't understand how or why it works. The problem with that is that if it is a fraud you can't protect yourself from criminal prosecution because you didn't understand what you were doing. The prosecutor will ask you if you asked others to give you or the organization money, and then they will convict you based on trying to defraud others. It doesn't matter whether you did it on purpose, or just because you believed the people you are investing in. So I very strongly advise you to understand exactly what the system is, and how it works, and then make sure with a lawyer that it's legal. If it is, then hey, you've learned something valuable. But if it's not, then you will save yourself a whole lot of trouble and anguish down the road if you step away before someone you attract to the investment decides to talk to their accountant or lawyer. A civil lawsuit may be bad, but if you're criminally prosecuted it will be so much worse. Now that I've said my piece, I won't talk to you about it anymore or bother you about it. I wish you luck, and hope that things work out fine. I wouldn't talk to the police or suggest that I'd do anything of that nature, without proof then there's no real way to start an investigation anyway, and unfortunately scams like this are incredibly hard to investigate, so the police often spend little to no time on them without a high level insider giving up evidence and associates. Chances are good nothing would happen to your friend - one day the organization will disappear and he won't recover any more money - but there's a distinct possibility that when that happens, the people below him will come for him, and he won't be able to look further up the chain for help. Perhaps the threat of illegal activity will be enough to prevent him from defrauding others, but if not I think at least you can let it go, and know that you've done everything for him that might work.",
"title": ""
},
{
"docid": "f606940b8bf3f1e2be77666f0e26ffe5",
"text": "The title of your question basically asks: What can I do? And you state this regarding the meeting and “advice” they gave towards criticism of their method: While this they also indoctrinated that you should avoid talking to people talking bad about it (or say it is scam) because you gain no money from them and they just want to destroy your business. First, you really cannot do anything to “save” your friend if they have bought this nonsense. You are right, it’s a scam. But past stating as such to your friend, there is not much you can do past shielding yourself. The reality is this: Any scenario you are in where you cannot ask basic questions and get a reasonable response or are given—at least—the option to walk away unscathed or uninsulated is basically a cult-like mentality. Simple as that. If the first thing someone tells you is “Don’t listen to others, just listen to me…” then you need to excuse yourself to go to the bathroom or something and just leave. From my personal experience meeting people who are successful and have power, they always—and I mean always—ask questions and are critical of things they invest in… Whether that investment is time, money or just basic mental energy. Rich people are just like you and me! Except they have more money so they can take bigger risks. Critical thinking and the ability to walk away from something are key life skills. Now others have talked salesman psychology which is on point. But here is something else you brought up in your question: He also wants to use his position as respected member of multiple local youth and other communities to get their members as referals or in his words “…to give them the oppurtunity to also simply earn money.” Okay, so you can set personal boundaries between you and this clown, but you cannot stop him. But if he plans on targeting people and organizations in your community, you can warn them about him and his behavior and this scam. Chances are other people will know right away it’s a scam, but honestly if you feel the need to help others, that’s the most reasonable thing you can do to help them. But whatever you do, don’t take any of this emotional crap personally. If anything, maybe you can learn some reverse salesman techniques to get this “friend” to disengage. Such as only meeting with them in public and if they say something really vile to you, repeating what they said back to them as a question… Maybe even louder so everyone can hear. Remember a harsh reality of life: Public shaming can work to change someone’s behavior but you never want to do something like that unless you have utterly no choice. That last bit of advice is pretty harsh, but the reality is at some point you need to do something to “smack” reality into the situation.",
"title": ""
},
{
"docid": "3cbe5453859af2169916484557119e0e",
"text": "As others have stated, it will be very difficult for you to turn your friend around. He has already demonstrated great commitment. What can I do? There may be other people (perhaps mutual friends of you and this man) who are in danger. He may try to get them into this (as he apparently tried to with you). If this was me, I would try to warn the mutual friends of me and him. It's easier to get to them before they have been exposed to the brainwashing. So I would: Yes, I realize this means you're going behind his back, talking to his friends, etc. But I believe these people also deserve to be warned. They are in danger of being adversely affected by what he is doing.",
"title": ""
},
{
"docid": "dec1ba6f3dd47b30b895677f50e5cfc8",
"text": "Chances are high your friend isn't in it for the money, but the community or some vague dream of having a future income-generating side business because he can't get a loan for a 7-11 franchise. I run a few successful online businesses and had an import/export so naturally I run into these guys looking for advice on selling their MLM wares easier. I always point out they can make a lot of money cutting out the middle man MLM distributor and buy the same products from eBay or the same local supplier the MLM uses for a fraction of costs...then collect all the profit sans kickbacks to their host MLM goon/sponsor/father. I've never had anyone that bailed on the MLM, but I could see their eyes gloss over after they realized their own middle man is holding them back from making a lot of money (assuming they could offload that stuff). People actually in it for the money tend to bail (better sales job exist, MLM dreams don't pay rent, etc.) so you'll probably just need to isolate your friend from these losers somehow. You could investigate his sponsor and find out how much money he's actually making....if he tells your friend he's rich, but you find out he lives in the slums with his mom, your friend might bail on friendship/association with the group out of sheer disgust. It's the friends, not the logic you need to attack. His MLM friends would consider it a betrayal if he left them so you need to show him it's the MLM group that's betrayed his friendship. Point out all the long-term members driving junky cars to events who brag about their $$$. Laugh at the piss poor finance credentials of the local group leaders....ask where the investor perks are and suggest the sponsor/leaders are just hording them. Point out that he's a success and the fellow team members are just milking him to prop up their failing investments/sales/recruitment numbers. Nobody wants to let a team down....but the team isn't good enough for him. Deep down he knows the logic is questionable or at least risky/improbable, but his faith in the good intentions of his MLM cohorts is high.....crush that faith and all he's left with is bad finance tips or cheap protein shakes.",
"title": ""
},
{
"docid": "7972dd39bc25c4136e567baa0e8857d9",
"text": "The one thing your friend needs to understand is for every dollar paid out, there is somebody paying that dollar in. The mark of a Ponzi scheme is that it feeds on itself. The stock market has trade volumes where it almost meets the definition of a Ponzi scheme. However, it deals with shares in actual production facilities (rather than only financial institutions) and provides means of production in return for large amounts of the profits. So there is someone legitimately expecting to pay back more than he gets out, in return for the availability of money at a time where he could not finance matters except by credit. With your friend's scheme, there is nobody expected to pay more than he gets out. Nail him down with that: every dollar paid out has to be paid in. Who is the one paying? At this point of time, it sounds like there will be two possible outcomes. You'll be visiting your friend in debtors' prison, or you'll visit him in criminal prison. If you highly value your friendship, you might get him out of the former with your own money. You won't be able with the latter. And if you let him exploit his standing for scamming his community, make no mistake, it will be the latter. I don't envy you.",
"title": ""
},
{
"docid": "22a8ad978393dbd6e80020a151f705f7",
"text": "If this 'scam' has a name, address and/or phone number, I forward it to the FBI anonymously. That is my advice. You may also wish to consult a lawyer.",
"title": ""
},
{
"docid": "6ee8d4a941cc76b83c804066b7e40877",
"text": "Your friend is investing time & money in a business that does not list an address or phone number on its website, not even in its 'press kit'. Even when they make a press release about moving into a new building, it does not list the address or even the street! C'mon, this is obviously a scam. No real business acts like this.",
"title": ""
},
{
"docid": "7dbf1ca1216e00be176e51ba0e68045c",
"text": "I don't want to repeat things that have already been said as I agree with most of them. There's just one little thing I'd like to add: If things go the way we're all expecting, this guy will eventually be in desperate need of a friend as he is extremely likely to lose most of his friends sooner or later. Perhaps all you can do is signal that you will not support him now (for obvious reasons), but that you'll be there for him when he may need you in the future...",
"title": ""
}
] | [
{
"docid": "74a47b8b12f7afd06fd333b7b5426df5",
"text": "The thing that gets so many people is that multilevel marketing isn't inherently a scam. It has all of the potential that they try to sell you on. It just so happens that every friend you have doesn't have an infinite supply of friend networks completely unrelated to anyone you know, so once you get three or four people in the same area in on an MLM, or if you try to join not realizing that there are already people in on it, and ESPECIALLY if you get in on MLM without knowing ANYTHING about he product aside from the MLM opportunities for your potential marks, or without knowing anything about sales in general, then people start getting screwed. MLM is cancer.",
"title": ""
},
{
"docid": "cb78796e5f2623079542684e26439d8e",
"text": "I feel like the new mlm schemes are 'pay a thousand dollars for my blue print which will help you develop the business of your dreams and earn 100k a month!' A lady contacted me about training because she couldn't afford one of those 'courses'. And I was like a) I have ten years experience in this I did not decide to do it overnight and b) it's high pressure and stressful as f.",
"title": ""
},
{
"docid": "d85f2317a218c57cbb8d3f379432d4f9",
"text": "Sadly, the Executive and BOD cashed-in on this a long time ago. History tells us that any claw-backs that the courts seek will represent just a tiny fraction of the overall gains taken in by the scam. Equally sad, any further fines and penalties levied against WF will be taken out of the hides of the lowest level investors and employees.",
"title": ""
},
{
"docid": "895e63c8636a4fec7a755864ecc4eefb",
"text": "There are lots of answers here, but I'll add my two cents... The best way to win is not to play. MLM is not a viable business model. Don't go in thinking you'll beat the system by trying harder than everyone else. The only way you'll make any money is by recruiting lots of people, and selling products that can be obtained for cheaper elsewhere at a normal store. If your friend already committed to the decision and they're wise as to what's going on, yet gullible enough to try anyways, have them think about the ethics of exploiting the people down the pyramid from them. Maybe that will change their mind. All of the other answers about not investing too much of your own money remain true. You don't want to blow your life savings on a pipe dream.",
"title": ""
},
{
"docid": "d6ea9d616b30c9973b74157e9df43187",
"text": "Guaranteed 8.2% annual return sounds too good to be true. Am I right? Are there likely high fees, etc.? You're right. Guaranteed annual return is impossible, especially when you're talking about investments for such a long period of time. Ponzi (and Madoff) schemed their investors using promises of guaranteed return (see this note in Wikipedia: In some cases returns were allegedly determined before the account was even opened.[72]). Her financial advisor doesn't charge by the hour--he takes a commission. So there's obviously some incentive to sell her things, even if she may not need them. Definitely not a good sign, if the advisor gets a commission from the sale then he's obviously not an advisor but a sales person. The problem with this kind of investment is that it is very complex, and it is very hard to track. The commission to the broker makes it hard to evaluate returns (you pay 10% upfront, and it takes awhile to just get that money back, before even getting any profits), and since you're only able to withdraw in 20 years or so - there's no real way to know if something wrong, until you get there and discover that oops- no money! Also, many annuity funds (if not all) limit withdrawals to a long period, i.e.: you cannot touch money for like 10 years from investment (regardless of the tax issues, the tax deferred investment can be rolled over to another tax deferred account, but in this case - you can't). I suggest you getting your own financial advisor (that will work for you) to look over the details, and talk to your mother if it is really a scam.",
"title": ""
},
{
"docid": "af7c5e4e1d4dac0d2cd9ce2faf49df5d",
"text": "\"Sounds like a Ponzi scheme, amplified by social media. Ponzi schemes always rely on some \"\"winners\"\" to say they are winners, so they can grow the pot. If you put in $100 and got out $120, that's the $20 the operator pays so that the next guy who puts in $100 gets back... zero.\"",
"title": ""
},
{
"docid": "aad964023bfe20997bec03f865987ce6",
"text": "\"Given that such activities are criminal and the people committing them have to hide them from the law, it's very unlikely that an investor could detect them, let alone one from a different country. The only things that can realistically help is to keep in mind the adage \"\"If something sounds too good to be true, it probably is\"\", and to stick to relatively large companies, since they have more auditing requirements and fraud is much harder to hide at scale (but not impossible, see Enron). Edit: and, of course, diversify. This kind of thing is rare, and not systematic, so diversification is a very good protection.\"",
"title": ""
},
{
"docid": "bb23133354ef50cc316f1e26656eef42",
"text": "Its not about her trying to fuck you over. Its about yourself, herself and her brother not taking into account the risk and assuming this is easy money. Legality is the easy part. Competing in the market and coming out on top is the hard part. There are probably hundreds of people just like her brother thinking that setting up a weed shop is a get rich quick scheme.",
"title": ""
},
{
"docid": "6656967ba487892e9921b4bb5f12ca72",
"text": "\"I believe no-one who's in a legal line of business would tell you to default voluntarily on your obligations. Once you get an offer that's too good to be true, and for which you have to do something that is either illegal or very damaging to you - it is probably a scam. Also, if someone requires you to send any money without a prior written agreement - its probably a scam as well, especially in such a delicate matter as finances. Your friend now should also be worried about identity theft as he voluntary gave tons of personal information to these people. Bottom line - if it walks like a duck, talks like a duck and looks like a duck, it is probably a duck. Your friend had all the warning signs other than a huge neon light saying \"\"Scam\"\" pointing at these people, and he still went through it. For real debt consolidation companies, research well: online reviews, BBB ratings and reviews, time in business, etc. If you can't find any - don't deal with them. Also, if you get promises for debtors to out of the blue give up on some of their money - its a sign of a scam. Why would debtors reduce the debt by 60%? He's paying, he can pay, he is not on the way to bankruptcy (or is he?)? Why did he do it to begin with?\"",
"title": ""
},
{
"docid": "d6cd64b327e02bb97e1b3893e3d5adb2",
"text": "Apparently this stuff is through Amway, which screws all of the little guys over to help make somebody else a bunch of money. It's a load of bs you don't want to get involved with. Glad I found that out.",
"title": ""
},
{
"docid": "9d329e887d7499a6cd163013dc560b17",
"text": "\"The first question I have to ask is, why would your \"\"friend\"\" even be considering something so ridiculous? There are so many variations of the banking scam running around, and yet people can't seem to see them for what they are -- scams. The old saying \"\"there's no such thing as a free lunch\"\" really comes into play here. Why would anyone send you/your friend $3,000.00 just because they \"\"like you\"\"? If you can't come up with a rational answer to that question then you know what you (or your friend) should do -- walk away from any further contact with this person and never look back! Why? Well, the simple answer is, let's assume they DO send you $3,000.00 by some means. If you think there aren't strings attached then all hope is lost. This is a confidence scam, where the scammer wins your trust by doing something nobody would ever do if they were trying to defraud you. As a result, you feel like you can trust them, and that's when the games really begin. Ask yourself this -- How long do you think it will be (even assuming the money is sent) before they'll talk you into revealing little clues about yourself that allow them to develop a good picture of you? Could they be setting you up for some kind of identity theft scheme, or some other financial scam? Whatever it is, you'd better believe the returns for them far outweigh the $3,000.00 they're allegedly going to send, so in a sense, it's an investment for them in whatever they have planned for you down the road. PLEASE don't take the warnings you get about this lightly!!! Scams like this work because they always find a sucker. The fact that you're asking the question in the first place means you/your \"\"friend\"\" are giving serious thought to what was proposed, and that's nothing short of disaster if you do it. Leave it be, take the lesson for what it's worth before it costs you one red cent, and move on. I hope this helps. Good luck!\"",
"title": ""
},
{
"docid": "14fbd60f61528b74f681f6033acfc003",
"text": "The risk besides the extra interest is that you might be upside down on the loan. Because the car loses value the moment you drive off the lot, the slower you pay it off the longer it takes to get the loan balance below the resale value. Of course if you have a significant down payment, the risk of being upside down is not as great. Even buying a used car doesn't help because if you try to sell it back to the dealer the next week they wont give you the full price you paid. Some people try and split the difference, get the longer term loan, but then pay it off as quickly as the shorter term loan. Yes the interest rate is higher but if you need to drop the payment back to the required level you can do so.",
"title": ""
},
{
"docid": "c9c509c589da4a1113de7886d63dc888",
"text": "Firstly, you haven't traded long enough. Secondly, you have just had a lot of luck that most of your trades came back. Thirdly, you should develop a trading strategy having entry rules, exit rules and risk management rules (never trade on margin without risk management or stop losses). Lastly, never trade on intuition or your emotions, stick to your plan, cut your losses small and early, and let your profits run.",
"title": ""
}
] | fiqa |
85e8f940ae1becfc90e973c64f3b020d | Joining a company being acquired | [
{
"docid": "641bd43f251dadbdf5ca1d0a1a7a0552",
"text": "\"Is there anything I need to ask or consider during my negotiation process based on the fact that they probably will soon be own by another company? Very tricky situation. You are being hired by one company, and one hiring manager. But you already know that there are big changes ahead. What you don't know is how all those changes will actually play out. You will at least end up working for a different company. I've worked for several companies in the past that were acquired, and some that acquired other companies. After each acquisition, the nature of the company changed significantly. Some teams were let go completely (often \"\"overhead\"\" departments like accounting, marketing, etc, that were handled at the corporate level), some teams were moved to a different location, others stayed the same. Sometimes management changed. In one case I was working for a new boss who worked out of the home office in another state. The time frame for these changes ranged from immediately, to several years after the acquisition. For me at least, some of the things that made the job appealing earlier typically were gone. Try as best you can to ask questions about the acquisition, and about the nature of the acquiring company. If they are allowed to tell you the name of the company that is acquiring them, do some searching. See if you can find out how the company typically deals with acquisitions - do they immediately let almost everyone go (keeping only the \"\"essential\"\" few), or do they run new acquisitions as separate divisions and leave them alone for at least a while? Try to find out from your hiring manager what their expectations are for your specific team post-acquisition. Try to find out if anything within your offer is subject to change, post-acquisition. Are you being hired under the old, pre-acquisition rules? Or under the new, post-acquisition rules? The fact that you even know the company is being acquired is good. Often, companies cannot even divulge that fact until very near the end. On the other hand your use of the phrase \"\"probably will soon\"\", makes me wonder how much is definite here. Here's something you might wish to read: https://workplace.stackexchange.com/questions/20357/a-coworker-beat-me-to-resignation-how-can-i-resign-in-a-professional-manner\"",
"title": ""
},
{
"docid": "50e54234a4e99e7bc7dca661b03ebffd",
"text": "The best answer I can give is - be prepared for change. There's no perfect question you can ask or assurance you can get prior to accepting the offer that will give you any particularly perfect security or sense of stability here. The company itself is going through a change of identity that can change how it will do business and even what the business is and how revenue is acquired. In the time of the acquisition your role within the company could change radically for better or worse, it could even be eliminated entirely. If that type of uncertainty doesn't appeal to you - don't take the position. If you are absolutely psyched about this job, the best thing you can do is to learn more about the business itself and see if you can make any educated bets about how your role will play into the changes in business strategy that will come with the acquisition.",
"title": ""
}
] | [
{
"docid": "28ec486934904404fe18e53cf843ce76",
"text": "\"Here is one \"\"other consideration\"\": don't, don't, don't sell based on insider information. Insider trading can land you in jail. And it's not restricted to top executives. Even overhearing a discussion about the current status of the acquisition talks can mean that you have insider information that you legally cannot act on in many jurisdictions. If you are just a regular employee, the SEC will likely not subject your dealings to special scrutiny, especially since lots of your colleagues will likely trade your company's shares at this point in time. And if you definitely hold insider info (for example, if you are intimately involved with the acquisition talks), you will likely have had a very serious warning about insider trading and know what you can and what you cannot do. Nevertheless, it's better to be careful here.\"",
"title": ""
},
{
"docid": "6c0f4d3144474b9d0a1a7381620979cc",
"text": "It depends on the timing of the events. Sometimes the buying company announces their intention but the other company doesn't like the deal. It can go back and forth several times, before the deal is finalized. The specifics of the deal determine what happens to the stock: The deal will specify when the cutoff is. Some people want the cash, others want the shares. Some will speculate once the initial offer is announced where the final offer (if there is one) will end up. This can cause a spike in volume, and the price could go up or down. Regarding this particular deal I did find the following: http://www.prnewswire.com/news-releases/expedia-to-acquire-orbitz-worldwide-for-12-per-share-in-cash-300035187.html Additional Information and Where to Find It Orbitz intends to file with the SEC a proxy statement as well as other relevant documents in connection with the proposed transaction with Expedia. The definitive proxy statement will be sent or given to the stockholders of Orbitz and will contain important information about the proposed transaction and related matters. SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT CAREFULLY WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. The proxy statement and other relevant materials (when they become available), and any other documents filed by Expedia or Orbitz with the SEC, may be obtained free of charge at the SEC's website, at www.sec.gov. In addition, security holders will be able to obtain free copies of the proxy statement from Orbitz by contacting Investor Relations by mail at ATTN: Corporate Secretary, Orbitz Worldwide, Inc., 500 W. Madison Street, Suite 1000, Chicago, Illinois 60661.",
"title": ""
},
{
"docid": "a3f2365912ad92fdb6806f5009bb20a8",
"text": "As far as I know, the AMT implications are the same for a privately held company as for one that is publicly traded. When I was given my ISO package, it came with a big package of articles on AMT to encourage me to exercise as close to the strike price as possible. Remember that the further the actual price at the time of purchase is from the strike price, the more the likely liability for AMT. That is an argument for buying early. Your company should have a common metric for determining the price of the stock that is vetted by outside sources and stable from year to year that is used in a similar way to the publicly traded value when determining AMT liability. During acquisitions stock options often, from what I know of my industry, at least, become options in the new company's stock. This won't always happen, but its possible that your options will simply translate. This can be valuable, because the price of stock during acquisition may triple or quadruple (unless the acquisition is helping out a very troubled company). As long as you are confident that the company will one day be acquired rather than fold and you are able to hold the stock until that one day comes, or you'll be able to sell it back at a likely gain, other than tying up the money I don't see much of a downside to investing now.",
"title": ""
},
{
"docid": "d64cc61d51f6e72fa565a083d8f3bf26",
"text": "MattMcA definitely gave you excellent advice and said a lot of what I would say to you. Most databases that are going to give you the most comprehensive information, but in a well formatted way, are going to require subscriptions or a fee. You should try to visit a library, especially one at a university, because they may likely have free access for you. At my alma mater the preferred database among students was LexisNexis Corporate Affiliations. http://www.corporateaffiliations.com/ With this company directory, you get public and private company profiles. You can use Corporate Affiliation’s MergerTrak™ and get full coverage on current and past mergers and acquisitions. I definitely think this is a business database you should look into. You have nothing to lose seeing as they have a free trial. Just to add, there’s always a business news feed on the homepage. As I just checked now, this one caught my interest: For Marvel Comics, A Renewed Digital Mission.",
"title": ""
},
{
"docid": "ec2cecd148f5a36061685e5c592c6bf3",
"text": "I found the following on a stock to mutual conversion for insurance firms for Ohio. Pulling from that link, Any domestic stock life insurance corporation, incorporated under a general law, may become a mutual life insurance corporation, and to that end may carry out a plan for the acquisition of shares of its capital stock, provided such plan: (A) Has been adopted by a vote of a majority of the directors of such corporation; (B) Has been approved by a vote of stockholders representing a majority of the capital stock then outstanding at a meeting of stockholders called for the purpose; (C) Has been approved by a majority of the policyholders voting at a meeting of policyholders called for the purpose, each of whom is insured in a sum of at least one thousand dollars and whose insurance shall then be in force and shall have been in force for at least one year prior to such meeting. and Any stockholder who has assented to the plan or who has been concluded by the vote of the assenting stockholders, and any stockholder who has objected and made demand in writing for the fair cash value of his shares subsequent to which an agreement has been reached fixing such fair cash value, but who fails to surrender his certificates for cancellation upon payment of the amount to which he is entitled, may be ordered to do so by a decree of the court of common pleas for the county in which the principal office of such corporation is located after notice and hearing in an action instituted by the corporation for that purpose, and such decree may provide that, upon the failure of the stockholder to surrender such certificates for cancellation, the decree shall stand in lieu of such surrender and cancellation. Since they successfully became a mutual insurance company, I would guess that those stocks were acquired back by the company, and are leftover from the conversion. They would not represent an ownership in the company, but might have value to a collector.",
"title": ""
},
{
"docid": "915e6ec3c328a2e4c2e8506fe7bc97cb",
"text": "\"This is several questions wrapped together: How can I diplomatically see the company's financial information? How strong a claim does a stockholder or warrantholder have to see the company's financials? What information do I need to know about the company financials before deciding to buy in? I'll start with the easier second question (which is quasi implicit). Stockholders typically have inspection rights. For example, Delaware General Corporate Law § 220 gives stockholders the right to inspect and copy company financial information, subject to certain restrictions. Check the laws and corporate code of your company's state of incorporation to find the specific inspection right. If it is an LLC or partnership, then the operating agreement usually controls and there may be no inspection rights. If you have no corporate stock, then of course you have no statutory inspection rights. My (admittedly incomplete) understanding is that warrantholders generally have no inspection rights unless somehow contracted for. So if you vest as a corporate stockholder, it'll be your right to see the financials—which may make even a small purchase valuable to you as a continuing employee with the right to see the financials. Until then, this is probably a courtesy and not their obligation. The first question is not easy to answer, except to say that it's variable and highly personal for small companies. Some people interpret it as prying or accusatory, the implication being that the founders are either hiding something or that you need to examine really closely the mouth of their beautiful gift horse. Other people may be much cooler about the question, understanding that small companies are risky and you're being methodical. And in some smaller companies, they may believe giving you the expenses could make office life awkward. If you approach it professionally, directly, and briefly (do not over-explain yourself) with the responsible accountant or HR person (if any), then I imagine it should not be a problem for them to give some information. Conversely, you may feel comfortable enough to review a high-level summary sheet with a founder, or to find some other way of tactfully reviewing the right information. In any case, I would keep the request vague, simple, and direct, and see what information they show you. If your request is too specific, then you risk pushing them to show information A, which they refuse to do, but a vague request would've prompted them to show you information B. A too-specific request might get you information X when a vague request could have garnered XYZ. Vague requests are also less aggressive and may raise fewer objections. The third question is difficult to say. My personal understanding is some perspective of how venture capitalists look at the investment opportunity (you didn't say how new this startup is or what series/stage they are on, so I'll try to stay vague). The actual financials are less relevant for startups than they are for other investments because the situation will definitely change. Most venture capital firms like to look at the burn rate or amount of cash spent, usually at a monthly rate. A high burn rate relative to infusions of cash suggests the company is growing rapidly but may have a risk of toppling (i.e. failing before exit). Burn rate can change drastically during the early life of the startup. Of course burn rate needs the context of revenues and reserves (and latest valuation is helpful as a benchmark, but you may be able to calculate that from the restricted share offer made to you). High burn rate might not be bad, if the company is booming along towards a successful exit. You might also want to look at some sort of business plan or info sheet, rather than financials alone. You want to gauge the size of the market (most startups like to claim 9- or 10-figure markets, so even a few percentage points of market share will hit revenue into the 8-figures). You'll also have to have a sense for the business plan and model and whether it's a good investment or a ridiculous rehash (\"\"it's Twitter for dogs meets Match.com for Russian Orthodox singles!\"\"). In other words, appraise it like an investor or VC and figure out whether it's a prospect for decent return. Typical things like competition, customer acquisition costs, manufacturing costs are relevant depending on the type of business activity. Of course, I wouldn't ignore psychology (note that economists and finance people don't generally condone the following sort of emotional thinking). If you don't invest in the company and it goes big, you'll kick yourself. If it goes really big, other people will either assume you are rich or feel sad for you if you say you didn't get rich. If you invest but lose money, it may not be so painful as not investing and losing out the opportunity. So if you consider the emotional aspect of personal finance, it may be wise to invest at least a little, and hedge against \"\"woulda-shoulda\"\" syndrome. That's more like emotional advice than hard-nosed financial advice. So much of the answer really depends on your particular circumstances. Obviously you have other considerations like whether you can afford the investment, which will be on you to decide. And of course, the § 83(b) election is almost always recommended in these situations (which seems to be what you are saying) to convert ordinary income into capital gain. You may also need cash to pay any up-front taxes on the § 83(b) equity, depending on your circumstances.\"",
"title": ""
},
{
"docid": "27f9a983c9f3d7c33a93dfd9dbe49aef",
"text": "It depends on the firm. I was interviewing with a few PE firms a few months ago, and the structure can vary. Some were definitely just LBO shops where the bulk of the staff were focused just on the deal. I remember a couple, however, that placed a lot of emphasis on getting in-house after the deal and performing what ultimately amounted to long term management consulting. These firms tended to hold companies for like 10+ years iirc. It sounds like there might be options out there in line with your passions, you just need to be pretty picky with the firm you join. I only remember one firm's name off the top of my head, but I'd be happy to pm it to you if you want to do some more research yourself.",
"title": ""
},
{
"docid": "e11be041a4602cb98ea6178e945d96c5",
"text": "\"I think the best advice you could get would be to find a lawyer. If that foreign company has any presence in the US, they should be the ones signing off as the successor, otherwise you may find yourself in a limbo that would require some legal assistance. Generally, in most States a Corporation cannot be dissolved without resolving issues like this, which is probably why they told you \"\"the plan is terminating\"\". Someone asked them to terminate it. You need to find that someone.\"",
"title": ""
},
{
"docid": "cb01897442967732700188d70b1e2d55",
"text": "This is only one of a series of questions your friend needs to understand. They will also need to know what happens to: vacation balances; the vacation earning schedule; retirement fund matching; the pension program; all the costs and rules regarding health, dental and vision;life insurance amounts. Some of these can be changed immediately. Some will not be changed this year because of IRS regulations. Everything can be changed by the next year. But there is no way to know if they will change a little a possible or as much a possible. It will depend on if they are buying the company, or if the company is going out of business and the new company is buying the remnants. They may also be essentially terminating the employees at the old place, and giving them the first opportunity for interviews. If they are essentially quitting they will not have to continue paying into the plan. The bad news is that their last day of work is also probably their last day to incur expenses that they can pay for with the flexible plan. If They are being purchased or absorbed the company will likely make no changes to the current plan, and fold them into the plan next year. I have been involved with company purchases and company splits, and this is how it was handled.",
"title": ""
},
{
"docid": "94ca522ac3e692fc40a81e334445cace",
"text": "\"Many companies (particularly tech companies like Atlassian) grant their employees \"\"share options\"\" as part of their compensation. A share option is the right to buy a share in the company at a \"\"strike price\"\" specified when the option is granted. Typically these \"\"vest\"\" after 1-4 years so long as the employee stays with the company. Once they do vest, the employee can exercise them by paying the strike price - typically they'd do that if the shares are now more valuable. The amount they pay to exercise the option goes to the company and will show up in the $2.3 million quoted in the question.\"",
"title": ""
},
{
"docid": "23cee925ddbb4a7e32c9671b6bf45718",
"text": "It depends. If you accept the offer, then your stock will cease existing. If you reject the offer, then you will become a minority shareholder. Depending on the circumstances, you could be in the case where it becomes illegal to trade your shares. That can happen if the firm ceases to be a public company. In that case, you would discount the cash flows of future dividends to determine worth because there would be no market for it. If the firm remained public and also was listed for trading, then you could sell your shares although the terms and conditions in the market would depend on how the controlling firm managed the original firm.",
"title": ""
},
{
"docid": "e97dd86a3520192f5e14722856c990a9",
"text": "\"It is not a \"\"riskless\"\" transaction, as you put it. Whenever you own shares in a company that is acquiring or being acquired, you should read the details behind the deal. Don't make assumptions just based on what the press has written or what the talking heads are saying. There are always conditions on a deal, and there's always the possibility (however remote) that something could happen to torpedo it. I found the details of the tender offer you're referring to. Quote: Terms of the Transaction [...] The transaction is subject to certain closing conditions, including the valid tender of sufficient shares, which, when added to shares owned by Men’s Wearhouse and its affiliates, constitute a majority of the total number of common shares outstanding on a fully-diluted basis. Any shares not tendered in the offer will be acquired in a second step merger at the same cash price as in the tender offer. [...] Financing and Approvals [...] The transaction, which is expected to close by the third quarter of 2014, is subject to satisfaction of customary closing conditions, including expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Act. Both Men’s Wearhouse and Jos. A. Bank are working cooperatively with the Federal Trade Commission to obtain approval of the transaction as soon as possible. [...] Essentially, there remains a small chance that one of these \"\"subject to...\"\" conditions fails and the merger is off. The chance of failure is likely perceived as small because the market price is trading close to the deal price. When the deal vs. market price gap is wider, the market would be less sure about the deal taking place. Note that when you tender your shares, you have not directly sold them when they are taken out of your account. Rather, your shares are being set aside, deposited elsewhere so you can no longer trade them, and later, should the conditions be satisfied, then you will be paid for your shares the deal price. But, should the deal fall apart, you are likely to get your shares deposited back into your account, and by that time their market value may have dropped because the price had been supported by the high likelihood of the transaction being completed. I speculated once on what I thought was a \"\"sure deal\"\": a large and popular Canadian company that was going to be taken private in a leveraged buyout by some large institutional investors with the support of major banks. Then the Global Financial Crisis happened and the banks were let off the hook by a solvency opinion. Read the details here, and here. What looked like a sure thing wasn't. The shares fell considerably when the deal fell apart, and took about four years to get back to the deal price.\"",
"title": ""
},
{
"docid": "302c61b590ca3faf629e6dea9041552a",
"text": "isn't it still a dilution of existing share holder stock value ? Whether this is dilution or benefit, only time will tell. The Existing value of Facebook is P, the anticipated value after Watsapp is P+Q ... it may go up or go down depending on whether it turns out to be the right decision. Plus if Facebook hadn't bought Watsapp and someone else may have bought and Facebook itself would have got diluted, just like Google Shadowed Microsoft and Facebook shadowed Google ... There are regulations in place to ensure that there is no diversion of funds and shady deals where only the management profits and others are at loss. Edit to littleadv's comments: If a company A is owned by 10 people for $ 10 with total value $100, each has 10% of the share in the said company. Now if a Company B is acquired again 10 ea with total value 100. In percentage terms everyone now owns 5% of the new combined company C. He still owns $10 worth. Just after this acquisition or some time later ...",
"title": ""
},
{
"docid": "16d613be361973044b4f7d4185a95491",
"text": "Obviously, there's some due diligence and quantitative analysis. However, it's mostly just what they can secure, for how much and how quickly. For instance, if you had a bakery that was netting 200,000/yr and needed 750,000 to open a new location. The bank will give you the loan over 10 years at 1.1%. Well, it's probably a good idea to take on debt. That's 6938 a month (I think). Edit: Or issue debt yourself. However, let's say you're merging with someone in the same industry. They have a market cap of 10 billion. Your company has a market cap of 62 billion and revenue of 11.8 billion a year. It's probably a good idea to secure with equity. Especially because you believe the merger will help you expand.",
"title": ""
},
{
"docid": "b54284dec28913e221731174dbe2fe02",
"text": "Seems a little early. Here's my advice: if you don't feel ready, you're probably not completely ready. In that case, it would probably be best if you worked as the assistant to the president of your business for a while to learn the ins and outs. Even if you are confident, keep the current president around to help. Maybe they can occupy the vice president position while you take over ownership. You'll want somebody there who knows what's up when shit hits the fan.",
"title": ""
}
] | fiqa |
b7854aef3cea96ae4c014275ba501e26 | Is an analyst's “price target” assumed to be for 12 months out? | [
{
"docid": "f0e97da6a1332f123f9e670ed9c6443e",
"text": "I wouldn't put too much stock in the guidance generically... it's more a measure of confidence in the company. When you listen to the earnings calls and start following a particular analyst, you'll understand where they come from when they kick out a number.",
"title": ""
},
{
"docid": "78befdefe3293d15a9d7b64241702147",
"text": "\"If the time horizon is not indicated, this is just a \"\"fair price\"\". The price of the stock, which corresponds with the fair value of the whole company. The value, which the whole business is worth, taking into consideration its net income, current bonds yield, level of risk of the business, perspective of the business etc.. The analyst thinks the price will sooner or later hit the target level (if the price is high, investors will exit stocks, if the price is cheap, investors will jump in), but no one knows, how much time will it take.\"",
"title": ""
},
{
"docid": "e0986ce939912bb6f607dfae68cc0f55",
"text": "The time horizon applicable to the price target is always specified by the broker or bank which published the research report. You will find this information in the disclaimer, which is present on every research report. Usually it is 12 months, but some firms give 6 months price targets. However, you should never rely on the price target alone and always combine it with the following details (to name a few): Are the analyst's estimate above or below consensus estimates (or company guidance), did the analyst rise or lower its estimates. What is the rating on the stock (Buy, Sell, Hold...), when did he change his rating or price target. Does the firm do business with the company? (which may influence a bullish tone and optimistic price target).",
"title": ""
},
{
"docid": "83cdc3f29e96ce627f0bb5369a48319f",
"text": "I don't think you can always assume a 12-month time horizon. Sometimes, the analyst's comments might provide some color on what kind of a time horizon they're thinking of, but it might be quite vague.",
"title": ""
},
{
"docid": "f3e982ca5500dd5bdf4a1e4e52d5a65a",
"text": "Most commonly, unless you read 'fair value target price,' an analyst's target price is a 12-month target price. Typically, there is a firm wide policy determining which time horizon to use. No analyst would provide an open ended target price, it doesn't make any sense (you discount cash flows to a certain period, adjust for inflation, etc). So there is always a time horizon.",
"title": ""
},
{
"docid": "d1d17cab7820e2dde13a9add87fa3ebb",
"text": "Analysts normally (oxymoron here) gauge their targets on where the stock is currently and more importantly where it has been. Except for in the case of say a Dryships where it was a hundred dollar stock and is now in the single digits, it is safe to assume that Apple for instance was well over $ 700 and is now at $500, and that a price guidance of $ 580 is not that remarkable and a not so difficult level to strike. Kind of like a meteorologist; fifty percent chance of rain. Analysts and weathermen.Hard to lose your job when your never really wrong. Mr Zip, Over and outta here",
"title": ""
}
] | [
{
"docid": "c189277f36f28c2d2c117dbfbf90c88c",
"text": "\"Systemic and well know patterns in sales are priced in to the security. Typically companies with very cyclical earnings like this will issue guidance of earnings per share within a range. These expected earnings are priced in before the earnings are actually booked. If a company meets these expectations the stock will likely stay relatively flat. If the company misses this expectation, the stock, generally, will get slammed. This kind of Wall Street behavior typically mystifies media outlets when a company's stock declines after reporting a record high level of whatever metric. The record high is irrelevant if it misses the expectation. There is no crystal ball but if something is both well known and expected it's already been \"\"priced in.\"\" If the well known expected event doesn't occur, maybe it's a new normal.\"",
"title": ""
},
{
"docid": "3b9ae35eb128a2fcc6a93a1cd48c9cae",
"text": "The indication is based on the average Buy-Hold-Sell rating of a group of fundamental analysts. The individual analysts provide a Buy, Hold or Sell recommendation based on where the current price of the stock is compared to the perceived value of the stock by the analyst. Note that this perceived value is based on many assumptions by the analyst and their biased view of the stock. That is why different fundamental analysts provide different values and different recommendations on the same stock. So basically if the stock's price is below the analyst's perceived value it will be given a Buy recommendation, if the price is equal with the perceived value it will be given a Hold recommendation and if the price is more than the perceived value it will be given a Sell recommendation. As the others have said this information IMHO is useless.",
"title": ""
},
{
"docid": "1e090411bf34d3e1a21c664640f3d881",
"text": "Graphs are nothing but a representation of data. Every time a trade is made, a point is plotted on the graph. After points are plotted, they are joined in order to represent the data in a graphical format. Think about it this way. 1.) Walmart shuts at 12 AM. 2.)Walmart is selling almonds at $10 a pound. 3.) Walmart says that the price is going to reduce to $9 effective tomorrow. 4.) You are inside the store buying almonds at 11:59 PM. 5.) Till you make your way up to the counter, it is already 12:01 AM, so the store is technically shut. 6.) However, they allow you to purchase the almonds since you were already in there. 7.) You purchase the almonds at $9 since the day has changed. 8.) So you have made a trade and it will reflect as a point on the graph. 9.) When those points are joined, the curves on the graph will be created. 10.) The data source is Walmart's system as it reflects the sale to you. ( In your case the NYSE exchange records this trade made). Buying a stock is just like buying almonds. There has to be a buyer. There has to be a seller. There has to be a price to which both agree. As soon as all these conditions are met, and the trade is made, it is reflected on the graph. The only difference between the graphs from 9 AM-4 PM, and 4 PM-9 AM is the time. The trade has happened regardless and NYSE(Or any other stock exchange) has recorded it! The graph is just made from that data. Cheers.",
"title": ""
},
{
"docid": "27c3de65dd0a09a5e8bfd62482094d7f",
"text": "\"> Forecasting prices to the level of accuracy they purport is a fool's errand. Sell side analysts are there to get you to buy something, not to make you money. > If they truly believed their analysis was significantly better than anyone else's in the market, they would trade on their own analysis. > No one ever got rich by following analyst recommendations. > Don't believe me? Track the buy/sell recommendations in a spreadsheet for 50+ stocks. I would be shocked if you significantly outperformed the market. Only partly right. Sell side price targets are bullshit. Literally everyone knows this. The reason there is value isn't because of their predictions but because of everything else. [Here's another professional's opinion as well:](http://www.reddit.com/r/investing/comments/27dokr/aapl_proves_wall_street_is_nuts/chzy78s?context=3) > If we're talking about sell-side institutional analysts, then this is not necessarily correct. It's just that the retail sector seems to only give a shit about the forecasts/conclusions (\"\"ohhh DB says buy xyz with target of xx.xx!\"\"). This goes to show how ignorant retail is when it comes to what the actual value of sell-side research reports are. > Sell-side research isn't valuable for buy-side because of the recommendations.. those are in fact the most ignored aspect of published research. It's valuable for buy-side because of the content. Sell-side analysts do the bullshit grind in investigating underlying information (such as visits to operational endeavors and clawing together bulk data). Buy side uses this underlying accrued data to formulate their own conclusions.\"",
"title": ""
},
{
"docid": "6910613137c444c85fb4e476e25872dc",
"text": "I have heard of this, but then the broker is short the shares if they weren't selling them out of inventory, so they still want to accumulate the shares or a hedge before EOD most likely - In that case it may not be the client themselves, but that demand is hitting the market at some point if there isn't sufficient selling volume. Whether or not the broker ends up getting all of them below VWAP is a cost of marketing for them, how they expect to reliably get real size below vwap is my question.",
"title": ""
},
{
"docid": "c13c73a337f0b416dd0e626ae4d9b7cf",
"text": "To be fair, the analyst is talking about the book value of the firm. Basically, the value of all the stuff it owns now. There are plenty of companies with negative book value that can justify a positive share price. Ford, for instance, had negative book value but positive future earnings.",
"title": ""
},
{
"docid": "6e565dff7908157a23a049aca8e6aa30",
"text": "No, and using a 37 year old formula in finance that is as simple as: should make it obvious technical analysis is more of a game for retail traders than investment advice. When it comes to currencies, there are a myriad of macroeconomic occurrences that do not follow a predictable timescale. Using indicators like RSI on any time frame will not magically illuminate broad human psychology and give you an edge. It is theoretically possible for a single public stock's price to be driven by a range of technical traders who all buy at RSI 30 and sell at RSI 70, after becoming a favorite stock on social media, but it is infinitely more likely for all market participants to have completely different goals.",
"title": ""
},
{
"docid": "c41e61f063420043ec5dd6378082c882",
"text": "\"As I understand it, Implied Volatility represents the expected gyrations of an options contract over it's lifetime. No, it represents that expected movement of the underlying stock, not the option itself. Yes, the value of the option will move roughly in the same direction the value of the stock, but that's not what IV is measuring. I even tried staring at the math behind the Options pricing model to see if that could make more sense for me but that didn't help. That formula is correct for the Black-Scholes model - and it is not possible (or at least no one has done it yet) to solve for s to create a closed-form equation for implied volatility. What most systems do to calculate implied volatility is plug in different values of s (standard deviation) until a value for the option is found that matches the quoted market value ($12.00 in this example). That's why it's called \"\"implied\"\" volatility - the value is implied from market prices, not calculated directly. The thing that sticks out to me is that the \"\"last\"\" quoted price of $12 is outside of the bid-ask spread of $9.20 to $10.40, which tells me that the underlying stock has dropped significantly since the last actual trade. If the Implied Vol is calculated based on the last executed trade, then whatever algorithm they used to solve for a volatility that match that price couldn't find a solution, which then choose to show as a 0% volatility. In reality, the volatility is somewhere between the two neighbors of 56% and 97%, but with such a short time until expiry, there should be very little chance of the stock dropping below $27.50, and the value of the option should be somewhere around its intrinsic value (strike - stock price) of $9.18.\"",
"title": ""
},
{
"docid": "30eb3402c667559e3f4a8a0ea9a19d2b",
"text": "I don't believe most do it on purpose. Its a function of two things. 1) Markets are relatively efficient, so generating profits off of publicly available information is rare. 2) Analysts cannot ethically nor legally make recommendation based on material non-public information. That leaves them with using public information and building out s model to estimate earnings and therefore share price as best as possible. The problem is that estimating earnings is notoriously difficult. Every model is subject to garbage-in-garbage-out. All analysts start with some of the same basic assumptions and then tweak them based on their best guess. Take enough analysts and you've now replicated roughly what all investors are doing in the marketplace, meaning as a whole analysts won't be more accurate than the market. The only way to generate above market returns is for you to consistently pick the analyst with the right recommendation. If only it were so easy... Furthermore, analysts tend to make similar recommendations due to biases. Their initial model may have said 'buy' for GE, but they realize no other analysts have a buy rating on the stock. They're more likely to go back and revise their guesses to something more inline with their peers - its less risky to be with the crowd! TL;DR Security selection is hard and outperformance without MNP is unlikely over the long term. I am no longer in the industry. After 2.5yrs as an analyst and going through the CFA curriculum I've learned that there are VERY few opportunities for out performance, especially so on a risk adjusted basis.",
"title": ""
},
{
"docid": "a82bece8a7b6c04dce89b387fe72c88e",
"text": "To get the probability of hitting a target price you need a little more math and an assumption about the expected return of your stock. First let's examine the parts of this expression. IV is the implied volatility of the option. That means it's the volatility of the underlying that is associated with the observed option price. As a practical matter, volatility is the standard deviation of returns, expressed in annualized terms. So if the monthly standard deviation is Y, then Y*SQRT(12) is the volatility. From the above you can see that IV*SQRT(DaysToExpire/356) de-annualizes the volatility to get back to a standard deviation. So you get an estimate of the expected standard deviation of the return between now and expiration. If you multiply this by the stock price, then you get what you have called X, which is the standard deviation of the dollars gained or lost between now and expiration. Denote the price change by A (so that the standard deviation of A is X). Note that we seek the expression for the probability of hitting a target level, Q, so mathematically we want 1 - Pr( A < Q - StockPrice) We do 1 minus the probability of being below this threshold because cumulative distribution functions always find the probability of being BELOW a threshold, not above. If you are using excel and assuming a mean of zero for returns, the probability of hitting or exceeding Q at expiration, then, is That's your answer for the probability of exceeding Q. Accuracy is in the eye of the beholder. You'd have to specify a criterion by which to judge it to know the answer. I'm sure more sophisticated methods exist that are more unbiased and have less error, but I think it's a fine first approximation.",
"title": ""
},
{
"docid": "2897001493318a038f0ffc2ddc37a741",
"text": "\"@jlowin's answer has a very good discussion of the types of PE ratio so I will just answer a very specific question from within your question: And who makes these estimates? Is it the market commentators or the company saying \"\"we'd expected to make this much\"\"? Future earnings estimates are made by professional analysts and analytical teams in the market based on a number of factors. If these analysts are within an investment company the investment company will use a frequently updated value of this estimate as the basis for their PE ratio. Some of these numbers for large or liquid firms may essentially be generated every time they want to look at the PE ratio, possibly many times a day. In my experience they take little notice of what the company says they expect to make as those are numbers that the board wants the market to see. Instead analysts use a mixture of economic data and forecasting, surveys of sentiment towards the company and its industry, and various related current events to build up an ongoing model of the company's finances. How sophisticated the model is is dependent upon how big the analytics team is and how much time resource they can devote to the company. For bigger firms with good investor relations teams and high liquidity or small, fast growing firms this can be a huge undertaking as they can see large rewards in putting the extra work in. The At least one analytics team at a large investment bank that I worked closely with even went as far as sending analysts out onto the streets some days to \"\"get a feeling for\"\" some companies' and industries' growth potential. Each analytics team or analyst only seems to make public its estimates a few times a year in spite of their being calculated internally as an ongoing process. The reason why they do this is simple; this analysis is worth a lot to their trading teams, asset managers and paying clients than the PR of releasing the data. Although these projections are \"\"good at time of release\"\" their value diminishes as time goes on, particularly if the firm launches new initiatives etc.. This is why weighting analyst forecasts based on this time variable makes for a better average. Most private individual investors use an average or time weighted average (on time since release) of these analyst estimates as the basis for their forward PE.\"",
"title": ""
},
{
"docid": "b5d4816f3537f902bd6f075b31278133",
"text": "Forecasting prices to the level of accuracy they purport is a fool's errand. Sell side analysts are there to get you to buy something, not to make you money. If they truly believed their analysis was significantly better than anyone else's in the market, they would trade on their own analysis. No one ever got rich by following analyst recommendations. Don't believe me? Track the buy/sell recommendations in a spreadsheet for 50+ stocks. I would be shocked if you significantly outperformed the market.",
"title": ""
},
{
"docid": "0d82c6862e9923c14d6fea3afb7cf9f6",
"text": "\">Your line of reasoning is why you should have a timeline on a prediction. It's been, what, 12 years now of near constant assertions that huge inflation is just right around the corner. How long should we wait for it? Just long enough so that when it happens, you can claim that \"\"Shit! No one could have predicted THAT.\"\" >to keep the inflation, which there is absolutely no sign of whatsoever Wow. The blindness. It HAS to be willful.\"",
"title": ""
},
{
"docid": "4f2a3af6526fd4b4e1134e9c460ed9f6",
"text": "The market can stay irrational longer than you can remain solvent -John Maynard Keynes The stocks could stagnate and trade in a thin range, or decline in value. You assume that your stocks will offer you ANY positive return for every month over 24 months. Just one month of negative returns puts you underwater. Thats whats wrong with it. Even if you identified any stock that has been up every month for a consecutive 24 months in the past, there is nothing that says it will be so in the future, and a broad market selloff will effect both indexes as well as individual stocks. Literally any adverse macroeconomic event in the next two years will put you underwater on your loan, no matter how much research you do on individual stocks.",
"title": ""
},
{
"docid": "c6ec4c6e33b1f072622f1c14cf686071",
"text": "Paytrust seems to be the only game in town. We've changed banks several times over the last 15 years and I can tell you that using a bank's bill pay service locks you in, big time. I loved paytrust because I could make one change if we changed banks. If you're using a bank directly for your bills, the ides of recreating your payee list is daunting.",
"title": ""
}
] | fiqa |
7d4694058cc53c504bcbfea1ecd1e7d9 | Are Index Funds really as good as “experts” claim? | [
{
"docid": "6e4f01017045a7b9ef74ebae91eacf5a",
"text": "\"I actually love this question, and have hashed this out with a friend of mine where my premise was that at some volume of money it must be advantageous to simply track the index yourself. There some obvious touch-points: Most people don't have anywhere near the volume of money required for even a $5 commission outweigh the large index fund expense ratios. There are logistical issues that are massively reduced by holding a fund when it comes to winding down your investment(s) as you get near retirement age. Index funds are not touted as categorically \"\"the best\"\" investment, they are being touted as the best place for the average person to invest. There is still a management component to an index like the S&P500. The index doesn't simply buy a share of Apple and watch it over time. The S&P 500 isn't simply a single share of each of the 500 larges US companies it's market cap weighted with frequent rebalancing and constituent changes. VOO makes a lot of trades every day to track the S&P index, \"\"passive index investing\"\" is almost an oxymoron. The most obvious part of this is that if index funds were \"\"the best\"\" way to invest money Berkshire Hathaway would be 100% invested in VOO. The argument for \"\"passive index investing\"\" is simplified for public consumption. The reality is that over time large actively managed funds have under-performed the large index funds net of fees. In part, the thrust of the advice is that the average person is, or should be, more concerned with their own endeavors than they are managing their savings. Investment professionals generally want to avoid \"\"How come I my money only returned 4% when the market index returned 7%? If you track the index, you won't do worse than the index; this helps people sleep better at night. In my opinion the dirty little secret of index funds is that they are able to charge so much less because they spend $0 making investment decisions and $0 on researching the quality of the securities they hold. They simply track an index; XYZ company is 0.07% of the index, then the fund carries 0.07% of XYZ even if the manager thinks something shady is going on there. The argument for a majority of your funds residing in Mutual Funds/ETFs is simple, When you're of retirement age do you really want to make decisions like should I sell a share of Amazon or a share of Exxon? Wouldn't you rather just sell 2 units of SRQ Index fund and completely maintain your investment diversification and not pay commission? For this simplicity you give up three basis points? It seems pretty reasonable to me.\"",
"title": ""
},
{
"docid": "22a624586462392a84b59b2656031d90",
"text": "Why would it not make more sense to invest in a handful of these heavyweights instead of also having to carry the weight of the other 450 (some of which are mostly just baggage)? First, a cap-weighted index fund will invest more heavily in larger cap companies, so the 'baggage' you speak of does take up a smaller percentage of the portfolio's value (not that cap always equates to better performance). There are also equal-weighted index funds where each company in the index is given equal weight in the portfolio. If you could accurately pick winners and losers, then of course you could beat index funds, but on average they've performed well enough that there's little incentive for the average investor to look elsewhere. A handful of stocks opens you up to more risk, an Enron in your handful would be pretty devastating if it comprised a large percentage of your portfolio. Additionally, since you pay a fee on each transaction ($5 in your example), you have to out-perform a low-fee index fund significantly, or be investing a very large amount of money to come out ahead. You get diversification and low-fees with an index fund.",
"title": ""
},
{
"docid": "bc8f593c174368c4c817cd8ea5e13e90",
"text": "Picking yourself is just what all the fund managers are trying to do, and history shows that the majority of them fails the majority of the time to beat the index fund. That is the core reason of the current run after index funds. What that means is that although it doesn’t sound so hard, it is not easy at all to beat an index consistently. Of course you can assume that you are better than all those high-paid specialists, but I would have some doubt. You might be luckier, but then you might be not.",
"title": ""
},
{
"docid": "217b83c42b6d95a98edc02217db6d947",
"text": "The point of buying an index fund is that you don't have to pick winners. As long as the winners are included in the index fund (which can include far more than 500 stocks), you benefit on average because of overall upward historical market performance. Picking only the top 50 capitalized stocks in the S&P 500 does not guarantee you will successfully track the S&P 500 index because the stocks in the tail can account for an outsized amount of overall growth; the top 50 stocks by market capitalization change over time, and these stocks are not necessarily the stocks that perform better. As direct example, the 10 year average annual return for the S&P top 50 is 4.52%, while the 10 year average annual return for the S&P 500 is 5.10%. Issues of trading and balancing to maintain these aside, these indices are not the same.",
"title": ""
},
{
"docid": "b39b705716edf980e950a2be747a7b36",
"text": "\"Two main points to answer this in my opinion. First, most people don't start with say half a million dollar to buy all the stocks they need in one shot but rather they accumulate this money gradually. So they must make many Buys in their lifetime. Similarly, most people don't need to withdraw all their investment in one day (and shouldn't do this anyway as it cuts the time of investment). So there will be many Sells. Performing a single buy or sell per year is not efficient since it means you have lots of cash sitting doing nothing. So in this sense, low cost indexing lets you quickly invest your money (and withdraw it when needed after say you retire) without worrying about commission costs each time. The second and most important point to me to answer this is that we should make a very clear distinction between strategy and outcome. Today's stock prices and all the ups and downs of the market are just one possible outcome that materialized from a virtually uncountable number of possible outcomes. It's not too hard to imagine that tomorrow we hear all iPhones explode and Apple stock comes crashing down. Or that in a parallel universe Amazon never takes off and somehow Sears is the king of online commerce. Another item in the \"\"outcome\"\" category is your decisions as a human being of when to buy and sell. If that exploding iPhone event does occur, would you hold on to your stocks? Would you sell and cut your losses? Does the average person make the same decision if they had $1000 invested in Apple alone vs $1M? Index investing offers a low cost strategy that mitigates these uncertainties for the average person. Again here the key is the word \"\"average\"\". Picking a handful of the heavyweight stocks as you mention might give you better returns in 30 years, but it could just as easily give you worse. And the current data suggest the latter is more likely. \"\"Heavyweights\"\" come and go (who were they 30 years ago?) and just like how the other 450 companies may seem right now as dragging down the portfolio, just as easily a handful of them can emerge as the new heavyweights. Guaranteed? No. Possible? Yes. Jack Bogle is simply saying low cost indexing is one of the better strategies for the average person, given the data. But nowhere is it guaranteed that in this lifetime (e.g. next 30 years) will provide the best outcome. Berkshire on the other hand are in the business of chasing maximum outcomes (mid or short term returns). It's two different concepts that shouldn't be mixed together in my opinion.\"",
"title": ""
},
{
"docid": "5a9e3e301321b3674f2d82b887ba6c30",
"text": "\"Comparing index funds to long-term investments in individual companies? A counterintuitive study by Jeremy Siegel addressed a similar question: Would you be better off sticking with the original 500 stocks in the S&P 500, or like an index fund, changing your investments as the index is changed? The study: \"\"Long-Term Returns on the Original S&P 500 Companies\"\" Siegel found that the original 500 (including spinoffs, mergers, etc.) would do slightly better than a changing index. This is likely because the original 500 companies take on a value (rather than growth) aspect as the decades pass, and value stocks outperform growth stocks. Index funds' main strength may be in the behavior change they induce in some investors. To the extent that investors genuinely set-and-forget their index fund investments, they far outperform the average investor who mis-times the market. The average investor enters and leaves the market at the worst times, underperforming by a few percentage points each year on average. This buying-high and selling-low timing behavior damages long-term returns. Paying active management fees (e.g. 1% per year) makes returns worse. Returns compound on themselves, a great benefit to the investor. Fees also compound, to the benefit of someone other than the investor. Paying 1% annually to a financial advisor may further dent long-term returns. But Robert Shiller notes that advisors can dissuade investors from market timing. For clients who will always follow advice, the 1% advisory fee is worth it.\"",
"title": ""
},
{
"docid": "d0c0764029404e59244d50be1b159dad",
"text": "\"Here is my simplified take: In any given market portfolio the market index will return the average return on investment for the given market. An actively managed product may outperform the market (great!), achieve average market performance (ok - but then it is more expensive than the index product) or be worse than the market (bad). Now if we divide all market returns into two buckets: returns from active investment and returns from passive investments then these two buckets must be the same as index return are by definition the average returns. Which means that all active investments must return the average market return. This means for individual active investments there are worse than market returns and better then market returns - depending on your product. And since we can't anticipate the future and nobody would willingly take the \"\"worse than market\"\" investment product, the index fund comes always up on top - IF - you would like to avoid the \"\"gamble\"\" of underperforming the market. With all these basics out of the way: if you can replicate the index by simply buying your own stocks at low/no costs I don't see any reason for going with the index product beyond the convenience.\"",
"title": ""
},
{
"docid": "4d69b994e0a8ea32c8004d3ddd9d6c9a",
"text": "A lot of it boils down to these key points:",
"title": ""
},
{
"docid": "bc7049dedd2b6a9084368e230498afc2",
"text": "\"Simply put, you cannot deterministically beat the market. If by being informed and following all relevant news, you can arrive at the conclusion that company A will likely outperform company B in the future, then having A stocks should be better than having B stocks or any (e.g., index based) mix of them. But as the whole market has access to the very same information and will arrive at the same conclusion (provided it is logically sound), \"\"everybody\"\" will want A stocks, which thus become expensive to the point where the expected return is average again. Your only options of winning this race are to be the very first to have the important information (insider trade), or to arrive at different logical conclusions than the rest of the world (which boils down do making decisions that are not logically sound - good luck with that - or assuming that almost everybody else is not logically sound - go figure).\"",
"title": ""
}
] | [
{
"docid": "a5c828411013510f191bb0f58be880db",
"text": "I'm not 100% familiar with the index they're using to measure hedge fund performance, but based on the name alone, comparing market returns to *market neutral* hedge fund returns seems a bit disingenuous. That doesn't mean the article is wrong, and they have a point about the democratization of data, but still.",
"title": ""
},
{
"docid": "bd66966f0541ccfd05860777d41fc257",
"text": "Eh using a benchmark that's designed for Hedge Funds is a little different. I was guessing the other comment was referring to SPX or similar for the 10%. Most people don't understand HF as investment vehicles. They are meant to be market neutral and focused on absolute returns. Yes, you can benchmark them against each other / strategy but most people here seem to think that HFs want to beat the S&P 500.",
"title": ""
},
{
"docid": "94307b9b712f8bbbbda71d1a4df93e87",
"text": "\"If I invest in index funds or other long term stocks that pay dividend which I reinvest, they don't need to be worth more per share for me to make a profit, right? That is, if I sell part of the stocks, it's GOOD if they're worth more than I bought them at, but the real money comes from the QUANTITY of stocks that you get by reinvesting your dividends, right? I would say it is more the other way around. It is nice to get dividends and reinvest them, but overall the main gain comes from the stocks going up in value. The idea with index funds, however, is that you don't rely on any particular stock going up in value; instead you just rely on the aggregate of all the funds in the index going up. By buying lots of stocks bundled in an index fund, you avoid being too reliant on any one company's performance. Can I invest \"\"small amounts\"\" (part of paycheck) into index funds on a monthly basis, like €500, without taking major \"\"transaction fees\"\"? (Likely to be index fund specific... general answers or specific answers using popular stocks welcomed). Yes, you can. At least in the US, whether you can do this automatically from your paycheck depends on whether you employer has that set up. I don't know that work in the Netherlands. However, at the least, you can almost certainly set up an auto-invest program that takes $X out of your bank account every month and buys shares of some index fund(s). Is this plan market-crash proof? My parents keep saying that \"\"Look at 2008 and think about what such a thing would do to your plan\"\", and I just see that it will be a setback, but ultimately irrelevant, unless it happens when I need the money. And even then I'm wondering whether I'll really need ALL of my money in one go. Doesn't the index fund go back up eventually? Does a crash even matter if you plan on holding stocks for 10 or more years? Crashes always matter, because as you say, there's always the possibility that the crash will occur at a time you need the money. In general, it is historically true that the market recovers after crashes, so yes, if you have the financial and psychological fortitude to not pull your money out during the crash, and to ride it out, your net worth will probably go back up after a rough interlude. No one can predict the future, so it's possible for some unprecedented crisis to cause an unprecedented crash. However, the interconnectedness of stock markets and financial systems around the world is now so great that, were such a no-return crash to occur, it would probably be accompanied by the total collapse of the whole economic system. In other words, if the stock market dies suddenly once and for all, the entire way of life of \"\"developed countries\"\" will probably die with it. As long as you live in such a society, you can't really avoid \"\"gambling\"\" that it will continue to exist, so gambling on there not being a cataclysmic market crash isn't much more of a gamble. Does what I'm planning have similarities with some financial concept or product (to allow me to research better by looking at the risks of that concept/product)? Maybe like a mortgage investment plan without the bank eating your money in between? I'm not sure what you mean by \"\"what you're planning\"\". The main financial products relevant to what you're describing are index funds (which you already mentioned) and index ETFs (which are basically similar with regard to the questions you're asking here). As far as concepts, the philosophy of buying low-fee index funds, holding them for a long time, and not selling during crashes, is essentially that espoused by Jack Bogle (not quite the inventor of the index fund, but more or less its spiritual father) and the community of \"\"Bogleheads\"\" that has formed around his ideas. There is a Bogleheads wiki with lots of information about the details of this approach to investing. If this strategy appeals to you, you may find it useful to read through some of the pages on that site.\"",
"title": ""
},
{
"docid": "4afd5945bcc615ebbc57c903f5eff5cc",
"text": "From an article I wrote a while back: “Dalbar Inc., a Boston-based financial services research firm, has been measuring the effects of investors’ decisions to buy, sell, and switch into and out of mutual funds since 1984. The key finding always has been that the average investor earns significantly less than the return reported by their funds. (For the 20 years ended Dec. 31, 2006, the average stock fund investor earned a paltry 4.3 average annual compounded return compared to 11.8 percent for the Standard & Poor’s 500 index.)” It's one thing to look at the indexes. But quite another to understand what other investors are actually getting. The propensity to sell low and buy high is proven by the data Dalbar publishes. And really makes the case to go after the magic S&P - 0.09% gotten from an ETF.",
"title": ""
},
{
"docid": "d551a112c05e7e4ad3cf68a202c506dc",
"text": "That is such a vague statement, I highly recommend disregarding it entirely, as it is impossible to know what they meant. Their goal is to convince you that index funds are the way to go, but depending on what they consider an 'active trader', they may be supporting their claim with irrelevant data Their definition of 'active trader' could mean any one or more of the following: 1) retail investor 2) day trader 3) mutual fund 4) professional investor 5) fund continuously changing its position 6) hedge fund. I will go through all of these. 1) Most retail traders lose money. There are many reasons for this. Some rely on technical strategies that are largely unproven. Some buy rumors on penny stocks in hopes of making a quick buck. Some follow scammers on twitter who sell newsletters full of bogus stock tips. Some cant get around the psychology of trading, and thus close out losing positions late and winning positions early (or never at all) [I myself use to do this!!]. I am certain 99% of retail traders cant beat the market, because most of them, to be frank, put less effort into deciding what to trade than in deciding what to have for lunch. Even though your pension funds presentation is correct with respect to retail traders, it is largely irrelevant as professionals managing your money should not fall into any of these traps. 2) I call day traders active traders, but its likely not what your pension fund was referring to. Day trading is an entirely different animal to long or medium term investing, and thus I also think the typical performance is irrelevant, as they are not going to manage your money like a day trader anyway. 3,4,5) So the important question becomes, do active funds lose 99% of the time compared to index funds. NO! No no no. According to the WSJ, actively managed funds outperformed passive funds in 2007, 2009, 2013, 2015. 2010 was basically a tie. So 5 out of 9 years. I dont have a calculator on me but I believe that is less than 99%! Whats interesting is that this false belief that index funds are always better has become so pervasive that you can see active funds have huge outflows and passive have huge inflows. It is becoming a crowded trade. I will spare you the proverb about large crowds and small doors. Also, index funds are so heavily weighted towards a handful of stocks, that you end up becoming a stockpicker anyway. The S&P is almost indistinguishable from AAPL. Earlier this year, only 6 stocks were responsible for over 100% of gains in the NASDAQ index. Dont think FB has a good long term business model, or that Gilead and AMZN are a cheap buy? Well too bad if you bought QQQ, because those 3 stocks are your workhorses now. See here 6) That graphic is for mutual funds but your pension fund may have also been including hedge funds in their 99% figure. While many dont beat their own benchmark, its less than 99%. And there are reasons for it. Many have investors that are impatient. Fortress just had to close one of its funds, whose bets may actually pay off years from now, but too many people wanted their money out. Some hedge funds also have rules, eg long only, which can really limit your performance. While important to be aware of this, that placing your money with a hedge fund may not beat a benchmark, that does not automatically mean you should go with an index fund. So when are index funds useful? When you dont want to do any thinking. When you dont want to follow market news, at all. Then they are appropriate.",
"title": ""
},
{
"docid": "84af74fe96101aba83d1b6e7c3bc8013",
"text": "I think you can do better than the straight indexes. For instance Vanguard's High Yield Tax Exempt Fund has made 4.19% over the past 5 years. The S&P 500 Index has lost -2.25% in the same period. I think good mutual funds will continue to outperform the markets because you have skilled managers taking care of your money. The index is just a bet on the whole market. That said, whatever you do, you should diversify. List of Vanguard Funds",
"title": ""
},
{
"docid": "bb28cf4e4e06bf5115246d92fa92e80b",
"text": "\"There's a huge difference between \"\"can an anverage person make a profit on the stock market\"\" and \"\"can an average person get rich off the stock market\"\". It is certainly possible for an average person to profit, but of course you are unlikely to profit as much as the big Wall Street guys. An S&P 500 index fund, for instance, would be a pretty good way to profit. People with high-powered tools may make a lot of money picking individual stocks, and may even make some choices that help them when the market is down, but it's difficult to see how they could consistently make money over the long term without the S&P 500 also going up. The same applies, to varying extents, to various other index funds, ETFs, and mutual funds. I agree with littleadv that there is no single \"\"right\"\" thing for everyone to do. My personal take is that index funds are a good bet, and I've seen a lot of people take that view on personal finance blogs, etc. (for whatever that's worth). One advantage of index funds that track major indexes (like the S&P 500) is that because they are and are perceived as macro-indicators of the overall economic situation, at least you're in the same boat as many other people. On one level, that means that if you lose money a lot of other investors are also losing money, and when large numbers of people start losing money, that makes governments take action, etc., to turn things around. On another level, the S&P 500 is a lot of big companies; if it goes down, some of those big companies are losing value, and they will use their big-company resources to gain value, and if they succeed, the index goes up again and you benefit. In other words, index funds (and large mutual funds, ETFs, etc.) make investing less about what day-trading wonks focus on, which is trying to make a \"\"hot choice\"\" for a large gain. They make it more about hitching your wagon to an extremely large star that is powered by all the resources of extremely large companies, so that when those companies increase their value, you gain. The bigger the pool of people whose fortunes rise and fall with your own, the more you become part of an investment portfolio that is (I can't resist saying it) \"\"too big to fail\"\". That isn't to say that the S&P 500 can't lose value from time to time, but rather that if it does go down big and hard and stay there, you probably have bigger problems than losing money in the stock market (e.g., the US economy is collapsing and you should begin stockpiling bullets and canned food).\"",
"title": ""
},
{
"docid": "e3ad56de12a1e57eee094f285039e940",
"text": "\"I hope a wall of text with citations qualifies as \"\"relatively easy.\"\" Many of these studies are worth quoting at length. Long story short, a great deal of research has found that actively-managed funds underperform market indexes and passively-managed funds because of their high turnover and higher fees, among other factors. Longer answer: Chris is right in stating that survivorship bias presents a problem for such research; however, there are several academic papers that address the survivorship problem, as well as the wider subject of active vs. passive performance. I'll try to provide a brief summary of some of the relevant literature. The seminal paper that started the debate is Michael Jensen's 1968 paper titled \"\"The Performance of Mutual Funds in the Period 1945-1964\"\". This is the paper where Jensen's alpha, the ubiquitous measure of the performance of mutual fund managers, was first defined. Using a dataset of 115 mutual fund managers, Jensen finds that The evidence on mutual fund performance indicates not only that these 115 mutual funds were on average not able to predict security prices well enough to outperform a buy-the-market-and-hold policy, but also that there is very little evidence that any individual fund was able to do significantly better than that which we expected from mere random chance. Although this paper doesn't address problems of survivorship, it's notable because, among other points, it found that managers who actively picked stocks performed worse even when fund expenses were ignored. Since actively-managed funds tend to have higher expenses than passive funds, the actual picture looks even worse for actively managed funds. A more recent paper on the subject, which draws similar conclusions, is Martin Gruber's 1996 paper \"\"Another puzzle: The growth in actively managed mutual funds\"\". Gruber calls it \"\"a puzzle\"\" that investors still invest in actively-managed funds, given that their performance on average has been inferior to that of index funds. He addresses survivorship bias by tracking funds across the entire sample, including through mergers. Since most mutual funds that disappear are merged into existing funds, he assumes that investors in a fund that disappear choose to continue investing their money in the fund that resulted from the merger. Using this assumption and standard measures of mutual fund performance, Gruber finds that mutual funds underperform an appropriately weighted average of the indices by about 65 basis points per year. Expense ratios for my sample averaged 113 basis points a year. These numbers suggest that active management adds value, but that mutual funds charge the investor more than the value added. Another nice paper is Mark Carhart's 1997 paper \"\"On persistence in mutual fund performance\"\" uses a sample free of survivorship bias because it includes \"\"all known equity funds over this period.\"\" It's worth quoting parts of this paper in full: I demonstrate that expenses have at least a one-for-one negative impact on fund performance, and that turnover also negatively impacts performance. ... Trading reduces performance by approximately 0.95% of the trade's market value. In reference to expense ratios and other fees, Carhart finds that The investment costs of expense ratios, transaction costs, and load fees all have a direct, negative impact on performance. The study also finds that funds with abnormally high returns last year usually have higher-than-expected returns next year, but not in the following years, because of momentum effects. Lest you think the news is all bad, Russ Wermer's 2000 study \"\"Mutual fund performance: An empirical decomposition into stock‐picking talent, style, transactions costs, and expenses\"\" provides an interesting result. He finds that many actively-managed mutual funds hold stocks that outperform the market, even though the net return of the funds themselves underperforms passive funds and the market itself. On a net-return level, the funds underperform broad market indexes by one percent a year. Of the 2.3% difference between the returns on stock holdings and the net returns of the funds, 0.7% per year is due to the lower average returns of the nonstock holdings of the funds during the period (relative to stocks). The remaining 1.6% per year is split almost evenly between the expense ratios and the transaction costs of the funds. The final paper I'll cite is a 2008 paper by Fama and French (of the Fama-French model covered in business schools) titled, appropriately, \"\"Mutual Fund Performance\"\". The paper is pretty technical, and somewhat above my level at this time of night, but the authors state one of their conclusions bluntly quite early on: After costs (that is, in terms of net returns to investors) active investment is a negative sum game. Emphasis mine. In short, expense ratios, transaction costs, and other fees quickly diminish the returns to active investment. They find that The [value-weight] portfolio of mutual funds that invest primarily in U.S. equities is close to the market portfolio, and estimated before fees and expenses, its alpha is close to zero. Since the [value-weight] portfolio of funds produces an α close to zero in gross returns, the alpha estimated on the net returns to investors is negative by about the amount of fees and expenses. This implies that the higher the fees, the farther alpha decreases below zero. Since actively-managed mutual funds tend to have higher expense ratios than passively-managed index funds, it's safe to say that their net return to the investor is worse than a market index itself. I don't know of any free datasets that would allow you to research this, but one highly-regarded commercial dataset is the CRSP Survivor-Bias-Free US Mutual Fund Database from the Center for Research in Security Prices at the University of Chicago. In financial research, CRSP is one of the \"\"gold standards\"\" for historical market data, so if you can access that data (perhaps for a firm or academic institution, if you're affiliated with one that has access), it's one way you could run some numbers yourself.\"",
"title": ""
},
{
"docid": "8cd20273e0629c4575627b1c7bed9f18",
"text": "\"i know that hedge funds shouldn't be compared with index funds. they do different things. they serve different functions. but when the headline is they are reporting big gains, and then they report that \"\"Ken Griffin’s main Wellington and Kensington funds at Citadel rose almost 7 percent.\"\" YTD, and \"\"Andreas Halvorsen’s Viking and an equity-focused quantitative fund at Renaissance are up more than 9 percent this year through July\"\" as reporting \"\"Big Gains\"\" it's a little silly when an index fund like SCHB is up 10.7% YTD with an ER of 0.03.\"",
"title": ""
},
{
"docid": "20e5cfc13dc16a19aef4dc3ba03eba08",
"text": "\"Let me start by giving you a snippet of a report that will floor you. Beat the market? Investors lag the market by so much that many call the industry a scam. This is the 2015 year end data from a report titled Quantitive Analysis of Investor Behavior by a firm, Dalbar. It boggles the mind that the disparity could be this bad. A mix of stocks and bonds over 30 years should average 8.5% or so. Take out fees, and even 7.5% would be the result I expect. The average investor return was less than half of this. Jack Bogle, founder of Vanguard, and considered the father of the index fund, was ridiculed. A pamphlet I got from Vanguard decades ago quoted fund managers as saying that \"\"indexing is a path to mediocrity.\"\" Fortunately, I was a numbers guy, read all I could that Jack wrote and got most of that 10.35%, less .05, down to .02% over the years. To answer the question: psychology. People are easily scammed as they want to believe they can beat the market. Or that they'll somehow find a fund that does it for them. I'm tempted to say ignorance or some other hint at lack of intelligence, but that would be unfair to the professionals, all of which were scammed by Madoff. Individual funds may not be scams, but investors are partly to blame, buy high, sell low, and you get the results above, I dare say, an investor claiming to use index funds might not fare much better than the 3.66% 30 year return above, if they follow that path, buying high, selling low. Edit - I am adding this line to be clear - My conclusion, if any, is that the huge disparity cannot be attributed to management, a 6.7% lag from the S&P return to what the average investor sees likely comes from bad trading. To the comments by Dave, we have a manager that consistently beats the market over any 2-3 year period. You have been with him 30 years and are clearly smiling about your relationship and investing decision. Yet, he still has flows in and out. People buy at the top when reading how good he is, and selling right after a 30% drop even when he actually beat by dropping just 22%. By getting in and out, he has a set of clients with a 30 year record of 6% returns, while you have just over 11%. This paragraph speaks to the behavior of the investor, not managed vs indexed.\"",
"title": ""
},
{
"docid": "7fbd96694deb9cdb0de005f541ce5f6e",
"text": "Index funds are well-known to give the best long-term investment. Are they? Maybe not all the time! If you had invested in an index fund tracking the S&P500 at the start of 2000 you would still be behind in terms of capital appreciation when taking inflation into considerations. Your only returns in 13.5 years would have been any dividends you may have received. See the monthly chart of the S&P500 below. Diversification can be good for your overall returns, but diversification simply for diversification sake is as you said, a way of reducing your overall returns in order of smoothing out your equity curve. After looking up indexes for various countries the only one that had made decent returns over a 13.5 year period was the Indian BSE 30 index, almost 400% over 13.5 years, although it also has gone nowhere since the end of 2007 (5.5 years). See monthly chart below. So investing internationally (especially in developing countries when developed nations are stagnating) can improve your returns, but I would learn about the various international markets first before plunging straight in. Regarding investing in an Index fund vs direct investment in a select group of shares, I did a search on the US markets with the following criteria on the 3rd January 2000: If the resulting top 10 from the search were bought on 3rd January 2000 and held up until the close of the market on the 19th June 2013, the results would be as per the table below: The result, almost 250% return in 13.5 years compared to almost no return if you had invested into the whole S&P 500 Index. Note, this table lists only the top ten from the search without screening through the charts, and no risk management was applied (if risk management was applied the 4 losses of 40%+ would have been limited to a maximum of 20%, but possibly much smaller losses or even for gains, as they might have gone into positive territory before coming back down - as I have not looked at any of the charts I cannot confirm this). This is one simple example how selecting good shares can result in much better returns than investing into a whole Index, as you are not pulled down by the bad stocks.",
"title": ""
},
{
"docid": "4f13a3951eaed94fefa8904790031778",
"text": "The idea behind investing in index funds is that you will not under perform the market but also at the same time not over perform against the market either. It is meant for those (majority of the investing population) who do not or cannot invest more time in actively researching different investment options. So even considering for a moment that the yields on the index funds will drop significantly in the future, since the fund is supposed to be replication of the whole market itself, the market too can be assumed to be giving significantly lower future yields. In my opinion the question that you ask is confusing/contradictory because, its like pegging the fund performance to an avg and then asking if it will be higher or lower in the future. But rather its always going to be exactly the average, even if the absolute yields turn higher or lower",
"title": ""
},
{
"docid": "7cd4e8d8a1414e978825d104b7c83b25",
"text": "Not better companies, they pick the largest market cap companies which isn't guaranteed to be the best. If they were so much better than there would be a much bigger difference between the S&P 500 and the vanguard total stock market fund: http://quotes.morningstar.com/chart/fund/chart?t=VTSMX&region=usa&culture=en-US But as you can see above there is barely any difference in the gains between S&P and the total stock market fund",
"title": ""
},
{
"docid": "140b6fef7c8594dd3f234a710c425ab0",
"text": "\"YES.. Management fees cut directly into your profits. A fund which achieves 8% growth but costs 1% to maintain delivers only 7% to you. Compounded over years, even a relatively small difference can add up to a significant amount of money. This is one of the advantages index funds have. They may not be as \"\"sophisticated\"\" as human-managed funds, but their expense ratio is so much lower that the end result for the investor is often as good as or better than the more expensive products. In fact, at least one study found that, for each category they researched, low expense ratio was a better predictor of good return on investment than anything else they looked at. That doesn't mean cheapest is always best or most expensive is always worst .... but it does mean you should be very, very sure an expensive fund really is that much better before choosing it. And sticking with simple index funds may be a perfectly reasonable choice.\"",
"title": ""
},
{
"docid": "e4ab5e53638af9a16dfdee22e011d0c8",
"text": "If you just took money and banking you should probably be aiming for the sales end of the job. The trading end they're going to want you to know about option spreads (I remember my old Prof said [this](http://en.wikipedia.org/wiki/Black%E2%80%93Scholes) was always good to know for finance interviews), annuities, financial statement analysis, and all that fun stuff. Either way flaunt your other skills and knowledge as well - accounting, technology, blah blah blah",
"title": ""
}
] | fiqa |
e8c68f7e79dcf94c463b70afbc0c8cf5 | Why would you ever turn down a raise in salary? | [
{
"docid": "e3c326b2ea3f1b5e375bbd90af5d2132",
"text": "\"I don't know of a situation where rejecting a raise would make sense. Often, one can be in a phaseout of some benefit, so that even though you're in a certain tax bracket, the impact of the next $100 is greater than the bracket rate alone. Taxation of social security benefits is one such anomaly. It can be high, but never over 100%. Update - The Affordable Care Act contains such an anomaly - go to the Kaiser Foundation site, and see the benefit a family of three might receive. A credit for up to $4631 toward their health care insurance cost. But, increase the income to above $78120 Modified Adjusted Gross Income (MAGI) and the benefit drops to zero. The fact that the next dollar of income will cost you $4631 in the lost credit is an example of a step-function in the tax code. I'd still not turn down the raise, but I'd ask that it be deposited to my 401(k). And when reconciling my taxes each April, I'd use an IRA in case I still went over a bit. Consider, it's April, and your MAGI is $80,120. Even if you don't have to cash to deposit to the IRA, you borrow it, from a 24% credit card if need be. Because the $2000 IRA will trigger not just $300 less Federal tax, but a $4631 health care credit. Note - the above example will apply to a limited, specific group who are funding their own health care expense and paying above a certain percent of income. It's not a criticism of ACA, just a mathematical observation appropriate to this question. For those in this situation, a close look at their projected MAGI is in order. Another example - the deduction for college tuition and fees. This is another \"\"step function.\"\" Go a dollar over the threshold, $130K joint, and the deduction drops from $4000 to $2000. You can claim that a $2000 deduction is a difference of 'only' $500 in tax due, but the result is a quick spike in the marginal rate. For those right at this number, it would be worth it to increase their 401(k) deduction to get back under this limit.\"",
"title": ""
},
{
"docid": "180368ebdb2fa642ae3f540d64e0e4d7",
"text": "\"I probably wouldn't turn down a raise, but there are some circumstances in which you might hesitate. Having a disproportionately high salary for your type of role or the value you are providing to the company makes you an attractive layoff target in an economic downturn. I've heard anecdotally of lots of corporate lawyers getting laid off because they were getting raises every year, and ended up with such ridiculous salaries that when the economy went south, the company basically asked \"\"why are we paying these people so much?\"\" Same thing happens in lots of places - Circuit City lays off the experienced, highly-paid salespeople and brings in cheap-o high school students (that didn't work out well for them, but they did it anyway). Still, even knowing that, I'd accept the pay raise. You're making more money the whole time you're employed, and prior salary is the biggest predictor of the salary you can negotiate at a new position.\"",
"title": ""
},
{
"docid": "b746fa726e1723cb28bd6ebb60a627b5",
"text": "\"My answer has nothing to do with tax brackets or mathematics (I'm taking advantage of the leeway your question allowed), but rather it has to do with career goals and promotion. Large companies often have large \"\"Policies & Procedures\"\" booklets to go with them. One policy that sometimes exists which would make it a bad idea to accept a raise is: Employee cannot be given more than one salary increase in a 12-month period This means that if you accept a standard-of-living or merit increase of say, 2% or 3% in April, and then you apply for a job that would otherwise warrant a pay grade increase, you may be forced to wait until the following year to get bumped to the proper pay grade. Of course, this totally depends on the company, but it would be advisable to check your company's H.R. policy on that, if you're considering a move (even a lateral one) in the future.\"",
"title": ""
},
{
"docid": "b434b7b7a2e750295a18e50334555552",
"text": "If you have children in a university institution, then your annual salary is reported via financial aid forms. The small raise could be the difference between full tuition covered and only half tuition covered.",
"title": ""
},
{
"docid": "79de53b2ca5cd475b5f1a203e519e4fe",
"text": "I had a colleague turn down a raise once because he believed that female colleagues were already being paid well below his salary and it was unfair to further increase this gap. For very public figures raises are often declined as a form of leadership: showing that management is willing to forgo bonuses and salary increases as a form of solidarity with the employee population. Some leaders forgo a salary altogether (or take a $1/year salary).",
"title": ""
},
{
"docid": "61c17946cf2d33967b718ffe3db500f1",
"text": "I would turn down a 20% raise in salary without thinking, if they would offer that I can have a 4 day work week. I even take a 10% cut for this!",
"title": ""
},
{
"docid": "e0eb8fd7848105c6f127549bf3f6cd33",
"text": "Here in Germany there is a special case. I am studying (and working a little on the side) and still receiving child benefits from the state which is like 190€/m. Because I am getting this I don't have to pay tuition which is 1k/y. If my side income would get over the boundary (which is like 9k/y) I would lose those benefits (~3.3k) and would have to pay insurance myself (I dont know how much that would be. 50-100/m I guess.) So getting a raise from 8k to 10k sounds nice as it is a 25% raise, but it actually means getting less.",
"title": ""
},
{
"docid": "71a8f1cfe2081d6b80639bcdb92833ae",
"text": "I once turned down a raise because I didn't agree with the employee review that supposedly substantiated the raise. I felt the review to be superficial and incomplete. Then I refused to sign it, or take the accompanying raise, due to that fact.",
"title": ""
},
{
"docid": "ef238d44f6ade1b18699e8e1f245592d",
"text": "In the UK, recent changes to pension taxation mean that from April 2011, people earning between £150,000 and £180,000 total and making large pension contributions (>£50,000 or so) will pay a marginal tax rate on additional salary of >100%. This is because pension contributions normally attract tax relief at the highest marginal rate - i.e. 40% if the gross salary is above about £40,000, and 50% for salaries above £150,000. But after April 2011, the rate of relief will be tapered down for gross salaries above £150,000, reaching 20% for a gross salary of £180,000. So for example if you earn £175,000 and make a contribution of £50,000, then an additional £1,000 in salary will incur £500 of direct tax, and also lead to a 1% reduction in tax relief (from 25% to 24%), costing another £500. Once you factor in National Insurance of another 1% or so, the net effect of the pay rise is negative.",
"title": ""
},
{
"docid": "153ac29de4630fcbcea28e9bbe3b1185",
"text": "In the UK, the government has recently announced that Child Benefit will no longer be paid to those who earn over £44k. This means that if you currently earn £43,999, and your employer offers you a raise of £10 per annum to £44,009, then you could be over £1k worse off as a result.",
"title": ""
},
{
"docid": "46b2a4930485c93547ff9ffe8c4a39c2",
"text": "The only valid reason from a financial point of view is if the raise is a promotion or comes with conditions that are unacceptable to you. You may not want added supervisory responsibilties, for example. You need to use discretion when refusing advancement though, at places where I have worked, declining a raise or promotion is seen as a career killer for some circumstances.",
"title": ""
},
{
"docid": "d5d66cfdc3c1cde6eaaec09ba802a21b",
"text": "At least with US tax law where you only pay taxes at the higher rate for the income above the minimum for that tax bracket, you will always wind up ahead taking the raise if you are simply concerned with after tax (FICA) income. For example, assume you were making $8,350 (the top end of the 10% bracket in the US), and got a $100 raise, you would be taxed roughly as follows: After Tax Income Before Raise: $8,350 x (100% - 10%) After Tax Income After Raise: $8,350 x (100%-10%) + $100 x (100%-15%) You can easily see that the second number is always higher than the first as long as the raise is a positive amount (obviously).",
"title": ""
},
{
"docid": "5b9afd809b19ea026a97e23618f37748",
"text": "I recently was offered $1/hr raise. I turned it down because 1.)I had been looking for other jobs and the extra $150 per month wasn't enough money to keep me from exploring other options so it would look bad to take a raise and leave a month later. You never want to burn bridges. 2.) Raises aren't given out everyday. The business I work for is having financial troubles and the $1/hr was probably the best they could do at the time. If business picks up and they can afford to give me more money they won't do it because the record will show that I just got a raise. One good extra is that your boss will be flabergasted that you just turned down a raise and you may gain a lot of respect from your superiors. Don't confuse strategically turning down a raise and letting others sway your opinion because they don't wanna cough up the cash.",
"title": ""
},
{
"docid": "51923f3d32c6455dafbdb60e7766dc59",
"text": "Sometimes it's not entirely about take-home pay. A pay raise can affect other things like: These things need to be considered since they also affect quality of life.",
"title": ""
},
{
"docid": "9f6526f89de81cff8e4019c891345375",
"text": "There is currently a bill in Washington that will change the limit for salaried employees receiving overtime pay. It will be raised to $50400. I work 4 hours of overtime each week, which if the bill is passed, equates to an additional $7800 annually. If my company raises my salary to just above the limit then they would not have to pay the overtime. That would only be a raise of approx. $3000. Why would I want to take the raise, and still have to work the overtime, when I can choose to not take the raise and possibly not have to work it any longer. I would rather have the time off, but if I'm going to have to work it, then I'll take the more than double overtime pay.",
"title": ""
},
{
"docid": "a2999b33798536f587211bf4346238fc",
"text": "There are some student loan repayment programs and the like where, if a raise would bump you past a certain threshold, you become ineligible and are suddenly left holding the whole bag, or alternately the payoff for having your loans forgiven/repaid drops considerably. It can make financial sense to avoid crossing those thresholds.",
"title": ""
},
{
"docid": "27e0430f759036c11f1f3a188d4dbd52",
"text": "\"This would never apply for tax \"\"brackets\"\". It's not as though making an extra dollar will put you into an entire separate bracket, the IRS isn't that bad. They bump up the \"\"brackets\"\" every $50, so you will never turn down a raise because it would cause you to lose income. However if your raise would preclude you from contributing to your IRA because it pushes you over $110,000 then yes, you could turn it down or explain to your boss that it would need to be just a little bit higher to cover your IRA contribution loss.\"",
"title": ""
},
{
"docid": "befd90c643c2f13546371eefe400dddc",
"text": "\"One \"\"economic reason\"\" to turn down a raise is if your company gives bonuses based on performance reviews. When you get a raise in salary, your boss usually expects a better performance from you. That being said, if you get the raise, and your performance review is worse, you might get a smaller annual income.\"",
"title": ""
},
{
"docid": "6469c3c29865963a8e5df4b2ddec26cc",
"text": "\"In Australia there are cases for the argument. 1) We have laws against unfair dismissal that do not apply above certain thresholds. Your position is more secure with the lower salary. 2) Tax benefits for families are unfairly structured such that take home pay may actually be less, again due to a threshold. This tends to benefit charities as people need to shed the taxable income if a repayment of benefits would otherwise be triggered. 3) You do not want to \"\"just cross\"\" a tax bracket in a year where levies are being raised for natural disasters or budget shortfall. In this case a raise could be deferred ?\"",
"title": ""
},
{
"docid": "4d031a7f86ad55631c6d625512021e17",
"text": "It would make sense to refuse a raise when it pushes your effective marginal 'tax' (including reduced benefits) above 100%. The working poor (family of 4, 20K-40K in the US) often face marginal rates above 100% when you consider the phase out of various government benefits (EITC, insurance, housing,etc.) You can see the research here and here.",
"title": ""
},
{
"docid": "36e4353c63bbbd0351696c2c0894910e",
"text": "Jurisdictions will vary but I can imagine calculation methods for child support where the raise could become significant in the present with long future ramifications as well, even if the job is temporary or the parent wanted to step away from working full-time to attend school. The timing of the raise might coincide with disclosure of income to an ex-spouse or to the court related and it might be preferable to postpone the increase. Of course the court would probably frown on declining the raise for only these reasons. If it found out it might impute the higher income anyway. And I'm not suggesting that people dodge responsibility for their kids. We've all seen those cases where child support is not particularly equitable between the two parties and/or the kids do not necessarily benefit by the transfer of money. I wouldn't blame a parent for thoughtfully and unselfishly considering this type of second-order effect and consulting an attorney as with so many other financial implications of divorce. Regardless of personal moral objections it's certainly an answer to the question in technical terms that somebody somewhere has taken into account.",
"title": ""
},
{
"docid": "d8727042c22aefe9e3adf5f21e60d2b2",
"text": "I recently rejected an offer at a different firm that would have provided a 14k yearly increase. The reason for the rejection was because I would have had to give up two work from home days, my commute would have been about an hour and half each way, I would have lost about 14 extra days of PTO and holiday pay, and the new company didn't match anything for 401k.",
"title": ""
}
] | [
{
"docid": "27d00415eb2551c200e1cabbf5273d3f",
"text": "The problem with this is that it really only works in a small firm where everyone knows everyone else. Once it gets bigger and all the managers don't know all the workers it becomes a matter of who can BS the skill level of their favorites better in the yearly review. Then the resentment isn't about normally unknown salaries, it's about whether other employee's levels are legitimate. Don't get me wrong, opening up the conversation and trying to make it more objective is good, but this isn't some sort of common sense, one size fits all panacea.",
"title": ""
},
{
"docid": "494c5a502d369a1c921ab752b8ff5948",
"text": "\"The real question is what can you NOT do! If you track all your monetary actions, you know everything about your monetary situation. That means you have the tools to ask and answer \"\"what if\"\" questions, such as: \"\"If I get a 10% raise, could I take longer vacations?\"\" You could calculate how much you spend per day on vacation and then consider the amount of your raise and how much of it you'd need to allocate to vacations to, say, be able to take a two-week vacation instead of a one-week vacation. \"\"How much more would I have to earn to move to this nicer apartment?\"\" This may seem like a simple question, but a surprising number of people can't answer it in a reliable way, because they don't have a clear understanding of how much money they make and how much of it they can afford to spend on housing. If you find you have lots of spare income, maybe you can move to the nicer place right away; if not, at least you can get a sense of how much more money you'd need to make it happen. \"\"If I started taking the bus to work, how much would I save?\"\" You can look at how much you spend on gas and compare that to the price of a bus pass. By separating out categories like gas, repairs, and car insurance, you can also calculate different scenarios, like if you still kept your car but only used it for occasional trips, versus if you sold the car and used only public transportation. \"\"If I want to take a trip to Tahiti, what can I cut back on to save the money?\"\" Using your table you can pencil out scenarios like \"\"Suppose I stop eating out for lunch at work and just bring my lunch, how long would I have to do that to save enough to pay for a plane ticket?\"\" These are just a few random examples. The general idea is that with a record of hard numbers, you can start to consider potential tradeoffs in an objective way --- that is, you can ask \"\"how much in category X would I have to give up to gain this thing I want in category Y?\"\" The real trick in making use of your data is not so much \"\"what\"\" you can do, but \"\"how\"\" exactly to do it. You may have to become more of a spreadsheet wizard to really delve into these questions. Also, if you have programming expertise, you can even use something like Python to do calculations that might be laborious in a spreadsheet.\"",
"title": ""
},
{
"docid": "0df7234de23fe9441f835f8083b937e7",
"text": "This was absolutely true for me. I'm retired now. Until my last company I always got about 5% raise. When I skipped jobs the raise was usually enormous. I went: 19K 25K 30K 35K 50K 75K 85k 75K (last job sucked and this one was stupid simple at first) New company gave me steady raises to $125K and I got to do awesome work and was in complete control. There is no way I would have gone from 19K to 125K at the same firm.",
"title": ""
},
{
"docid": "efbeb66e10cd48131de8e89d2a0fdc6a",
"text": "All hearsay and a bad memory, but if I remember correctly, when you dig deep the reason he raised salaries was to help fight some lawsuits against his ex wife and/or ex business partner. These raises effectively made the company make nothing while he was fighting lawsuits. Then it eventually turned into publicity and more clients for his payment processing company.",
"title": ""
},
{
"docid": "a02d314be40e2de7566d5585bb79ddf7",
"text": "\"And that is my point: without specific dollar amounts...this is USELESS information. The problem with this crap information is that some crappy operation will find a reason to pay themselves more for being a \"\"good boss\"\" thinking that will make up for any raises. I'd take a better boss over a 5-cent an hour raise (and yes, I worked at McDonalds when raises were 0-5-10 cents an hour...and yeah, I would have liked a better boss for 5 cents). However, for an annual job that pays $500/hr I'll gladly work in horrid conditions with a horrible boss doing awful things.\"",
"title": ""
},
{
"docid": "442ed4cce3fedeeeb99c73feb326f40b",
"text": "Not necessarily. You only need to raise prices to maintain current profit margins. Assuming you aren't living on a paper thin profit margin, you can give your employees a raise and suffer a lower profit margin. Now, that could have other negative consequences on your stock value and shareholders might be upset, but that is a different discussion.",
"title": ""
},
{
"docid": "7fa35b69d33d8655a192fae2ddb950b1",
"text": "Microsoft doesn't do salary negotiations... The way the salary structure works at Microsoft is similar to how it works in many other huge companies. You have a rank/level/title (eg. developer, Senior developer, Principal developer, and upwards) and your salary is based solely on that. For example, every new college hire starts at a certain rank (whether foreign or not) and every new college hire starts at the same level of pay. When you get a promotion you get a new title and a corresponding pay increase. You can't negotiate for bonuses or salary increases, it's set in stone for everyone. This is for engineering positions, obviously sales/marketing/etc. all have different structures.",
"title": ""
},
{
"docid": "85a7f356bac3336d22f16c480e4c8a41",
"text": "its not that hard to figure out Please explain how arbitrarily raising employee wages would raise demand. What kind of 'demand' do you even speak of? Did you mean [Labor Demand](http://en.wikipedia.org/wiki/Labor_demand) ---I think what you talking about is [Consumer Confidence](http://en.wikipedia.org/wiki/Consumer_confidence). Please enlighten me.",
"title": ""
},
{
"docid": "bce8281f921835b728fba8738e1ec55c",
"text": "I had a similar decision to make. I got offered a modest salary near Philly, or a better salary plus a nice bonus in New York. I chose New York. I'm loving it so far but who knows what will happen. I'm actually saving a lot of money as I automatically have it deduct from my paycheck and disperse into several savings accounts. I guess it's different for everyone and you have to consider your situation before applying a blanket advice",
"title": ""
},
{
"docid": "4e0f407d03737175db7d72d8f5e9d3e4",
"text": "This is bad statistics. If you look at people who jumped ship, of course you're going to see bigger increases in salary because you're not counting those that looked for a new job and didn't find a better offer. They stayed put. People are complacent but companies are, too. Employers aren't putting a lot of effort into firing bad employees as soon as they can. So there are employees that aren't jumping ship and could be paid more but there are also employees that should be kicked off the ship and paid less, but aren't. All that said, staying put is easier than moving and there's a price for it. If you're willing to move around, you might do better. Might not. If you only look around at the ones that did move, of course it's going to look like they did better!",
"title": ""
},
{
"docid": "f4f0df64d1cd7d42776f3b94467ed780",
"text": "Recent MBA grad here. I would much rather work at a job that makes me happy than a job that pays more. With that said, I'm feeling pressure to earn a fairly high salary to pay off all the student loans. I will probably spend a few years trying to find a balance between happiness and salary and then completely forget about salary after my loans are paid off.",
"title": ""
},
{
"docid": "215dc7dad7674e2dfac95e80a8d3df64",
"text": "\"Many in management seem to live in an alternate reality from those who work for a living. When IBM shunted some techs into another company they put them on probation for a year (even though they were high performers - some with 25+ years at IBM = no job security) and cut their pay 25%. The next time they went to move workers the first question was \"\"how much is the pay cut this time\"\". Management's reply, \"\"No pay cut because we found when we did it before it negatively affected morale.\"\" I thought: \"\"No kidding. They had to actually cut people's pay 25% to figure that out? What planet DO they live on?\"\"\"",
"title": ""
},
{
"docid": "250bf86246dfc46508bdbb932830201a",
"text": "> but since that's impossible (due to the bureaucracy) in most jobs Huh? Dude, asking for a raise is never impossible. Go to your manager and make a well thought-out case. This is how it's done. It's not magic. Very rarely, in any professional environment, will anyone just hand you a raise because they think you're a nice guy. Keeping your head down and nose to the grindstone will not get you noticed. Obviously, going elsewhere to get that higher salary should also be an option. I did it once too. But in the situation you describe, you'd be crazy not to go demand a bigger slice of the pie.",
"title": ""
},
{
"docid": "587a65d963fc2a65049684b33ecee4f6",
"text": "My doubt is whether Govt./Reserve Bank of India gives any explicit incentives to banks to offer cheaper home loans ? Currently NO. In the past Loan against GOLD was considered priority sector lending [Loans to poor and agriculture etc]. Every Bank need to lead around 25% to priority sector. Hence quite a few Banks gave loans relatively cheaper to todays rate rather than giving it as Farm loan that almost never get recovered. It is no longer the case now as Loan against GOLD is not considered priority lending. If it were just demand/supply, I feel that gold loans should have been cheaper It is demand and supply. There are quite a few reasons for this;",
"title": ""
},
{
"docid": "50d0b42ef54f328df9c633c45a1d2aba",
"text": "No, you can't do this indefinitely. For one, you can't just take money out as home equity with no strings attached. The cash out is done as a loan (often a HELOC) or second mortgage and you have to make payments. The lender will always make sure you are able to afford the payments. At some point, you won't qualify for the loan because of insufficient income or too many previous liens on the property. While home values often go up, there's no guarantee. And your examples are more than a bit optimistic.",
"title": ""
}
] | fiqa |
42a9c6fa3a21a74d28cd8dc4dc7a051a | Do credit ratings (by Moody's, S&P, and Fitch) have any relevance? | [
{
"docid": "e5c6267801e51aa7a34b7956252680d5",
"text": "They've pretty much shot any credibility they possessed. Follow the money.",
"title": ""
},
{
"docid": "a6acbb37e49c0f1cbf78c1923d813df7",
"text": "\"The problems with ratings and the interpretation of ratings is that they are retrospective, and most people read them as prospective. They basically tell you that debtor is solvent right now. What does that mean? It means that the ratings are based on the audited financial statements of a company, government or other organization issuing debt. So, in the best case scenario where the rating agency is acting properly, they are still dependent on folks with fiduciary responsibility telling the truth. And even if they are telling the \"\"truth\"\", accounting rules make it possible to obscure problems for years in some cases. Municipal goverments are a great example of this... the general obligation bonds cities and even states with deep structural budget problems still get good ratings, because they are solvent and have sufficient operating cash to meet obligations today. But towards the end of a 30-year bond's life, that may not be the case anymore unless they dramatically alter their budgets. At the end of the day, ratings are one aspect of due diligence. They are useful screening devices, but you need to understand who you are lending money to by purchasing bonds and diversify your holdings to protect your wealth. The problem, of course, is when the trustees of your pension fund invests in garbage assets after getting a sales pitch on the beach in Hawaii, then conveniently place all of the blame for that bad investment on the rating agency. You unfortunately have zero control over that.\"",
"title": ""
},
{
"docid": "1479bfc3f23662f17bdf12c0074e13f8",
"text": "\"I like Muro questions! No, I don't think they do. Because for me, as a personal finance investor type just trying to save for retirement, they mean nothing. If I cannot tell what the basic business model of a company is, and how that business model is profitable and makes money, then that is a \"\"no buy\"\" for me. If I do understand it, they I can do some more looking into the stock and company and see if I want to purchase. I buy index funds that are indexes of industries and companies I can understand. I let a fund manager worry about the details, but I get myself in the right ballpark and I use a simple logic test to get there, not the word of a rating agency. If belong in the system as a whole, I could not really say. I could not possibly do the level of accounting research and other investigation that rating agencies do, so even if the business model is sound I might lose an investment because the company is not an ethical one. Again, that is the job of my fund manager to determine. Furthermore and I mitigate that risk by buying indexes instead of individual stock.\"",
"title": ""
}
] | [
{
"docid": "21bf027dd7d50ab43d1fea90f8798f18",
"text": "\"I used to work for one of the three ratings agencies. Awhile ago. First: There are lots of different ratings. The bulk of ratings are for corporate debt and public finance. So senior debentures (fixed income) and General Obligations e.g. tax-free muni bonds, respectively. Ratings agencies are NOT paid by the investment banks, they are paid by the corporations or city/ state that is issuing debt. The investment banks are the syndicate that pulls the transaction together and brings it to market. For mortgage-backed securities, collateralized debt CDO-CLO's, all of which are fancy structured securitizations, well, that is a different matter! Those transactions are the ones where there is an inappropriately close tie between the investment bankers and ratings agencies. And those were the ratings that blew out and caused problems. Ratings agencies continued to do a decent job with what WAS their traditional business, corporate and municipal bond ratings, as far as I know. What khajja said was 100% correct: S&P's fees were paid by investors, the people who were purchasing the bonds, until about 50 years ago. Around the same time that McGraw-Hill purchased S&P, in 1966, they departed from that model, and started charging the bond issuers for ratings. I don't know if that decision was driven by McGraw-Hill or not, though. One more thing: Not all credit ratings agencies are paid by the issuers. One of the 10 NRSRO's (a designation given by the S.E.C.) is Egan-Jones. Their revenue comes from the investors, bond purchasers, not the companies issuing bonds, unlike the S&P/ Fitch/ Moody's \"\"business model\"\". So there is an alternative, which I consider hopeful and reason not to totally despair. EDIT: What xcrunna19 mentions is also totally accurate. The part about Nouriel Roubini (who is a professor at N.Y.U. or Columbia or such and a sensible though slightly high strung sort) is consistent with my impression. As for whether it would require government action to implement the changes advocated by Roubini, yes, I guess it would, but I don't know if the government would do that. It would be better if the credit ratings agencies would find their own way to a different, less conflicted payment-incentive model. Keep in mind too that many of the provisions of Dodd-Frank have removed the existing regulatory requirements for credit ratings on bonds and other securities. This is the scary part though: There isn't anything to replace the credit ratings agencies, not at the moment, as far as I can tell! Eventually the government is supposed to come up with an alternative, but that hasn't happened yet. Which is better: Not requiring ratings at all, or the past situation of sometimes inflated ratings, which imparted a false sense of confidence? I don't know.\"",
"title": ""
},
{
"docid": "b686ae0fe2a548a07dce6642d2d9bc0c",
"text": "Yes, the entire financial system is based on trust. As we have seen repeatedly, even the ratings agencies can be wrong and in collusion. You need to understand what products have any insurance/contingency/recourse if things don't go as planned. A lot of people were surprised when they found out SIPC didn't ensure futures when MF Global declared bankruptcy last fall.",
"title": ""
},
{
"docid": "a29d85cfd8c938ef2276ef2eebe0ed11",
"text": "The one financial reform we should have passed is to stop the conflict of interest rating agencies have: They get paid by the very companies they are supposed to rate! All it takes is a company to slip a little more in to get that higher rating. I've heard this is also how the BBB operates too.",
"title": ""
},
{
"docid": "68f526be13311ca8c94737394ef90a28",
"text": "Some banks are bankrupt, or so close to it that they can only pretend to give real dividends in a desperate attempt to keep investors from fleeing and driving their stock price (and thus credit rating) down into a pit of despair. Other banks (like jpmc) are not in bad shape, have cash, and are quite happy to disburse it.",
"title": ""
},
{
"docid": "e3834023eee46345c1a76dc2fc03ec2f",
"text": "Here is one the links for Goldmansachs. Not to state the obvious, but most of their research is only available to their clients. http://www.goldmansachs.com/research/equity_ratings.html",
"title": ""
},
{
"docid": "f6828cfcacc79e64d02085f60c4e19b8",
"text": "Just playing devil's advocate: A falling stock price impairs the firm's ability to raise equity capital efficiently. In these times, additional regulatory capital requirements continue to be levied on the banks, and they are faced with raising capital inefficiently, which may impair their ability to pay their debt, which may lead to a ratings downgrade.",
"title": ""
},
{
"docid": "1a6c705c7d87a9ec21079f6c6c637160",
"text": "This is not shocking news actually. Nothing happened to these banks that made them lose their ratings. Rather, it's the rating agencies that have set up more strict rules, especially when it comes to triple A status. Specifically, it's no longer possible that banks or similar institutions can have a triple A status.This effectively means that only the richer countries can be triple A.",
"title": ""
},
{
"docid": "9ff04908735ba5c39fd86ede69c1d9ef",
"text": "i forget which one, but one of the two majors (S&P, Moodys), for a time, was not paid by issuers, but solely by subscribers. no surprise here, but at that time the issuer had, on average, lower ratings than the other service. after the service switched to subscriber-paid, within a year its ratings were on par with the other service.",
"title": ""
},
{
"docid": "635ce7920fdb62bbb83e572f92765298",
"text": "Yeah it was a mix between the issuing agencies and the credit agencies. If the credit agencies didnt rate them as AAA then the financial institutions would just go to the other agency. So there was a conflict of interest in rating them higher. There was mismanagement on both sides of the fence and when the CDOs started to default it created a forced selling environment where people HAD to sell their CDOs/stocks at a steep discount to get enough liquidity to pay their own mortgages.",
"title": ""
},
{
"docid": "f780ede624cc558237341e4335e2dd31",
"text": "The answer to your question is no. Your credit rating is the way creditors let each other know whether you are in a good position and have a strong tendency to repay your debts, not whether you are an easy target for making money on interest and penalties associated with failing to repay debts in full. The fact that you make your payments on time will definitely not lower your credit rating. While the banks are not making as much money on you as they would if you carried a balance, they are also not spending a lot of money on you, nor losing a lot of money on people like you failing to repay debts. The transactions charged to the retailers cover the costs of operating your card and then a little bit. That is enough to make you worth keeping as a customer. They are happy with your arrangement. The formula for credit rating computation is proprietary, but we know what the factors are overall. Making payments on time consistently is a positive, not a negative factor. However, they do look at the number of cards and overall mix of cards and other types of debt. For example, if you have a very large amount of credit capacity in your cards and no mortgage, that could possibly be a negative. If you have opened some of those accounts recently, it could be a negative. If you have a larger number credit cards than they think is good, that could be a negative. There are other things as well that could be bringing your score down. Probably worth it to take a look. If you want to get an idea of what factors are adding positively and negatively to your credit score, I'd encourage you to visit CreditKarma.com, Quizzle.com, or another source intended to help you understand and improve your credit rating.",
"title": ""
},
{
"docid": "9cbde01cf5e466b8f1a6ee6fca714dfb",
"text": "US government bonds are where money goes when the markets are turbulent and investors are fleeing from risk, and that applies even if the risk is a downgrade of the US credit rating, because there's simply nowhere else to put your money if you're in search of safety. Most AAA-rated governments have good credit ratings because they don't borrow much money (and most of them also have fairly small economies compared with the US), meaning that there's poor liquidity in their scarce bonds.",
"title": ""
},
{
"docid": "1527d960ca0ae909169234ac934632c1",
"text": "The credit scale is deceptive, it goes: AAA, AA, A, BBB, BBB-, BB+, BB, B, CCC, CC, C, D. In reality it should be A,B,C,D,E, F, G,H, I, etc. The current scale does not reflect with clarity the ranking of risks and ratings. AA is much worse than AAA, but the uncertainty involved can be scary. Check out these corporate and sovereign debt credit ratings.",
"title": ""
},
{
"docid": "2dc8c9f027bfc2cc21bc6b1d146bfccf",
"text": "Apple is currently the most valuable company in the world by market capitalisation and it has issued bonds for instance. Amazon have also issued bonds in the past as have Google. One of many reasons companies may issue bonds is to reduce their tax bill. If a company is a multinational it may have foreign earnings that would incur a tax bill if they were transferred to the holding company's jurisdiction. The company can however issue bonds backed by the foreign cash pile. It can then use the bond cash to pay dividends to shareholders. Ratings Agencies such as Moody's, Fitch and Standard & Poor's exist to rate companies ability to make repayments on debt they issue. Investors can read their reports to help make a determination as to whether to invest in bond issues. Of course investors also need to determine whether they believe the Ratings Agencies assesments.",
"title": ""
},
{
"docid": "80cf25b1ba15930ca2b8aa57dbb8796c",
"text": "Your credit score is based on your use of Debt. From wikipedia: Opening and closing bank accounts, buying or selling cars without debt, or even buying or selling houses without debt won't affect your credit score.",
"title": ""
},
{
"docid": "382fded1ed4fb017436f171d9cfcd887",
"text": "So their programmers don't have to deal with floating point arithmetic. This is why they're so far ahead in technology!",
"title": ""
}
] | fiqa |
e2e362b774d61f0ed9899b3fefc81448 | “Top down” and “bottom-up approach” | [
{
"docid": "3abfe6c068b124327ded89f42cbe279f",
"text": "\"I think it's an argument for Keynesian economic policy, basically an abridged version of this paragraph from the Wikipedia article: Keynesian economists often argue that private sector decisions sometimes lead to inefficient macroeconomic outcomes which require active policy responses by the public sector, in particular, monetary policy actions by the central bank and fiscal policy actions by the government, in order to stabilize output over the business cycle. \"\"private sector decisions\"\" are bottom-up: millions of businesses and individuals make economic decisions and \"\"the economy\"\" is the sum of what they do. \"\"monetary policy actions by the central bank and fiscal policy actions by the government\"\" are top-down: central institutions implement measures that are intended to have a positive effect (such as reducing unemployment) on millions of individuals.\"",
"title": ""
},
{
"docid": "5ddc4c4bb893b0eae2596283e5908f9e",
"text": "\"Top down approach needed when bottom-up approach of markets leads to periods of high unemployment Imagine a chart that starts with one point at the top and breaks it down into the details by the time you get to the bottom. People can read this chart either from the top and go down or from the bottom and go up. Wikipedia does have articles on Top-down and bottom-up design if you want more detail than I give here. Top down refers to the idea of starting at a high level and then working down to get into the details. For example, in planning a vacation, one could start with what continent to go, then which country, then which cities in that country and so forth. Thus, the idea here would be to start with macroeconomic trends and then create a strategy to fix this as the other way is what created the problem. The idea of taking a subject or system and breaking it down into individual pieces would be another way to state this. Bottom up refers to the idea of starting with the details and then build up to get a general idea. To use the vacation example again, this is starting with the cities and then building up to build the overall itinerary. Within political circles you may here of \"\"grassroots\"\" efforts where citizens will form groups to gain influence. This would be an example of bottom up since it is starting with the people. The idea of taking individual components and putting them together to build up something would be another way to state this. The statement is saying that a completely different style of approach will be necessary than the one that created the problem here.\"",
"title": ""
}
] | [
{
"docid": "1096c556637346a2f810598061b421e2",
"text": "The tried-and-true policy would be government spending (and not just any government spending, but one with positive feedback on the whole economy) such as specific subsidized industry or high-tech projects (most likely wind/solar, high-efficiency and hybrid cars, etc.). And this includes something like addition education in fields that are needed. Instead we give money to banks, tax breaks for the already wealthy, and then deregulate finance when the problem seemed to stem from deregulation and non-enforcement. If we don't hit a bigger bottom in 1-5 years - I'd eat my shorts.",
"title": ""
},
{
"docid": "f84c94ad004b29e8147168170dafdae1",
"text": "Upstream is into businesses that supply the original business; downstream is into businesses that make use of the original product. So in that description, what they are saying is that the original business received products from plantations and sent products to manufacturing. This is also called vertical integration. Meaning that they are diversifying along their supply chain so that they control more of it. This is in contrast with horizontal integration, where they move into new products that either compete with the existing products or which are entirely separate. In general, the upside of vertical integration is that a company is less reliant on suppliers (and intermediate consumers) and has more control over its supply chain. The downside is that they have less opportunity to partner with other companies in the same supply chain, as they compete with them. Some companies are better at managing to do both. For example, Amazon.com has integrated fulfillment and sales. But partners can still do their own fulfillment and/or sales, choosing how much to send out to Amazon. If you are investing in individual stocks, integrated companies can be problematic in that they cut across diversification areas. So they can be harder to balance with other stocks. You can either buy plantations, transport, and manufacturing together or not buy at all. If your investment strategy says to increase plantations and reduce manufacturing, this can be difficult to implement with an integrated company. Of course, everyone else has the same problem, which can lead to integrated companies being undervalued. So they may be an opportunity as a value stock.",
"title": ""
},
{
"docid": "7e6f4f331cde178e6cbfb007797db5f9",
"text": "The risk of the particular share moving up or down is same for both. however in terms of mitigating the risk, Investor A is conservative on upside, ie will exit if he gets 10%, while is ready to take unlimited downside ... his belief is that things will not go worse .. While Investor B is wants to make at least 10% less than peak value and in general is less risk averse as he will sell his position the moment the price hits 10% less than max [peak value] So it more like how do you mitigate a risk, as to which one is wise depends on your belief and the loss appetite",
"title": ""
},
{
"docid": "ae4d07bfbe8ca228742be94731ed1111",
"text": "It all depends on the country. In the US, mobility at the top is reasonably high (ie first generation millionaires, first generation billionaires, etc). In other western countries, mobility at the top is very poor. This is typically due to regulation and taxes that make it incredibly difficult for small businesses to be compliant and compete (ie hire a bad employee as a small startup, and it can cripple the business if you cannot easily fire them). Mobility at the bottom is reversed. Getting out of abject poverty in the US is incredibly difficult, almost impossible. In other western countries it is not easy, but far easier than the US thanks to those social safety nets.",
"title": ""
},
{
"docid": "b4db78062d6ef5b07f17f67ed87585f1",
"text": "I like the article concept, about seeking help where needed. This is something where an advisory board comes into play. That said, it is super important that you seek advice specifically in areas you are lacking. You want fresh ideas and people that will challenge your ideas.",
"title": ""
},
{
"docid": "f7ccceb6855d0b5e64b62d2732212069",
"text": "I'm aware that this is not how modern economics works. I considered pursuing a graduate degree in the subject, but chose not to because I disagree with the epistemological foundations of the approach. My ideas aren't based in explicit observation of reality, as I prioritize reason above observation. The difference between the two approaches is similar to the difference between pure mathematics and applied mathematics, where the rationalist (my perspective) is pure math, and the empiricist (the modern economist) is applied math. If you would include the theorems and abstractions of pure mathematics as fantasy, then my ideas are indeed based in fantasy, but you'd then have to explain why such an approach is wrong given how often the seemingly useless work of pure math ends up proving highly valuable in the long run (e.g. number theory and computer science).",
"title": ""
},
{
"docid": "07ae20dd499e31ebeaf9a49dc58692cc",
"text": "\"My problem with this is that there's no \"\"one size fits all\"\" approach to eliminating poverty. These are very much middle-class values and I don't think imposing them on impoverished children is the right approach. And besides, poverty itself can be fluid. Most kids already in poverty are stuck in generational poverty, but there's also situational poverty that can affect anyone at any time. For kids in generational poverty, it's about survival. They don't plan ahead because they don't have the luxury to do that. It's day to day with them, with each day bringing a new challenge. Do I know what we have to do to eliminate poverty? No, and I don't think anyone does. But I do think whatever approach we take should be multifaceted and take into account the environmental contexts that shape a person's life. This kind of lazy policymaking isn't gonna cut it\"",
"title": ""
},
{
"docid": "3e96dd8b815036db335e1e2920e91435",
"text": "True but it isn't too difficult . Perhaps a classic example would be Sony - 5 years losses , this last year US$1.1B , how long can it last ?! However the trick is not to initially concentrate on the corporates but to concentrate on the small to medium sized companies and to ensure that they are strategically placed engineering wise to step in and take over . Business wise they will be used to adapting quickly .",
"title": ""
},
{
"docid": "18f66dae6ed740c7b842bf4c81daeba5",
"text": "\"I like stuff like this for perspective but I found the article lacking in mechanics as to how to unlearn, how to apply it, etc. I may have missed it though. This reminds me of my CEO challenging everyone at every level to \"\"innovate\"\". Need more of the \"\"how\"\" behind these kinds of objectives. It's great to shed preconceptions, think outside the box, etc but that's been managerial buzz speak for years, and yet we still find ourselves within the box. Focusing on how to get out of it seems like a worthy cause.\"",
"title": ""
},
{
"docid": "b9581148b6453c1697ee377b6f87be88",
"text": "The best ask is the lowest ask, and the best bid is the highest bid. If the ask was lower than the bid then they crossed, and that would be a crossed market and quickly resolved. So the bid will almost always be cheaper than the ask. A heuristic is that a bid is the revenue of the stock at any given time while the ask is the cost, so the market will only ever offer a profit to itself not to the liquidity seeker. If examining the book vertically, all orders are usually sorted descending. Since the best ask is the lowest ask, it is on the bottom of the asks, and vice versa for the best bid. The best bid & best ask will be those closest since that's the narrowest spread and price-time priority will promise that a bid that crosses the asks will hit the lowest ask, the best possible price for the bidder and vice versa for an ask that crosses the best bid.",
"title": ""
},
{
"docid": "1407a11a1bfd45195cc54d12195ad9d1",
"text": "\"In that example, \"\"creating money\"\" could be used interchangeably with \"\"making promises\"\". There's no inflation, and no problem, so long as everyone keeps their promises. Which sounds like a horrifying thing to say about the foundations of the economy, but the remarkable thing is that people mostly do.\"",
"title": ""
},
{
"docid": "536a9451d2d6c78952cbfd226f8e9cdc",
"text": "I'd still take the lower total pay with higher hourly pay, because I'm saving myself time. It ultimately represents an increase in efficiency for my time, or an increase in my ROI of time, which most business people would agree is a good thing. I can supplement my income with side jobs or a side business, with the extra time I have. What's really key is what happens to overall employment. If it gets low enough to where workers can find 2nd jobs, then it may truly leave some low wage workers worse off, and the entire demographic worse off as a whole.",
"title": ""
},
{
"docid": "fb0927a7b7d0b22ddb6786217aef90d2",
"text": "I don't know what you are asking. Can you give me an example of what fits the question? That you use phrases like profit extraction make me think we have a different assumption base, so I think we have to find common syntactic ground before we can exchange ideas in a meaningful way. I would like to do so, though, so I hope you respond.",
"title": ""
},
{
"docid": "fe3227e7377e8a31b6fdc7d6f59a3ffe",
"text": "Have you read is letter? He's saying thanks to the government for basically saving the economy. Warren Buffet was from day 1 a strong supporter of the bailout program. I'm sorry for my ignorance but what ''output'' are you talking about? As I understand you don't just want to establish a basic income but want to change the whole monetary system? And you can't even explain it?",
"title": ""
},
{
"docid": "be2baa6c913b0b5127fcb95afa608ac4",
"text": "\"I assume you are referring to Multi-Level Marketing, which have organizational structures that look like pyramids. As others have pointed out Ponzi schemes (often referred to as pyramid) are illegal. The key to multi-level marketing is understanding the true objective. It is not to sell soap, vitamins, cell phone plans or whatever. The key is to understand that you are building a marketing organization. You must motivate and train others to do the same. You cannot rely on others to do it for you, you must do it yourself. If you just are there to sell product, you won't make any money. If you have a lot of friends that you can convince to sign up, you won't make any money. If you can build a marketing organization, you can make a lot of money. While the marketing for MLMs often say \"\"anyone can do it\"\", such things waste people's time. There are certain personality types that are not suited for such skills. Also if one posses those types of skills, there may be better opportunities in traditional companies. Maybe.\"",
"title": ""
}
] | fiqa |
6184edbcc7ae078a3e66b484fa6db27b | Hourly rate negotiation tips for paid internship | [
{
"docid": "d459e150ca648cfee8e5b0562028f8cf",
"text": "Interns are not hired to do work, they are hired so that people at the company can get a look at their abilities in a real situation (not an interview) before hiring them for real. This way instead of 30% of your new hires being a dud, it's more like 5%, because the bad ones were filtered out in the intern process. If you are self-motivated and good enough, then it's quite possible that you will start getting real work while you're at the company, as opposed to throwaway assignments that nobody cares about. Once you're in that position, it means they trust you to actually accomplish something, and you will be viewed as a hopeful hire. Assuming you like the company, getting into that position is half the value of the internship. So I'd take it as-is with one caveat - ask them about schedule flexibility ahead of time, explicitly for the purpose of making sure your class schedule works. If they're a decent place to work for they will probably grant you that point outright. EDIT: One more note. If you've got a favor to burn, save it. Use it if you like the place and need to ask them for an H1B sponsorship, or any other kind of immigration assistance.",
"title": ""
},
{
"docid": "ec1d0cde477f4f5b3cbf886bfe067706",
"text": "\"I am not sure if I would get any benefit besides the hourly payment as an intern. What are the benefits I can expect while working for this company (or any other software company) Probably none. Changes from company to company but usually only full-time employees are entitled for benefits. For example, could I ask them to reimburse my bus fare or fuel costs in addition to the hourly pay? You can always ask:-) If it's not in the offer - better ask now, you'll get paid what is written in the offer you accepted. Highly unlikely though. What kind of an \"\"employee\"\" is an intern? (Read about exempt and non-exempt employee, but that's all very confusing) As intern you're non-exempt. As a professional (i.e.: Not part of internship) you would be exempt. Since this is the second time, since my interview, that I have requested, and been offered a higher rate, should I continue to ask them for a value near a $35/hr rate Have you asked them for $35? Or just for more? Anyway, I don't think that if they raised the offer from $17 to $21.75 that there's a chance for you to get $35 from them.\"",
"title": ""
},
{
"docid": "10d048445713a9cb28d60e32239f5683",
"text": "They likely have an intern (job title) pay-scale that maxes out somewhere below $30/hr in order to meet the FLSA (that exempt vs non-exempt stuff you were seeing). As a PhD student, you could probably negotiate up into the ~$25/hr range, but from a benefits standpoint, they might not be able to pay you $35/hr without making you an exempt, full-time employee.",
"title": ""
}
] | [
{
"docid": "9ad7770881b0bdd14d914bab9fe10349",
"text": "10 years into my career. Here are my notes: 1. Don't work overtime as a salaried employee. If there's more work than people then management needs to hire more people. Sure, there are times when shit hits the fan and there's no other option, but that should be a 'once every two years' event, not a 'once every week' event. 2. Be a rockstar. If you're spending time 'looking busy' because you finished a 3 hour job in 1 hour ship the results to your manager and ask for more. Those results will be noticed and will move you from entry-level to mid-level to senior. 3. Skills pay the bills. Always work on learning new things to bring value to your employer. This is also required to move up the chain in your career, and leads into my #4. 4. Get paid what you're worth. Maintain an understanding of what similar skillsets are paying in your area and either maintain or exceed that. Your employer has an incentive to pay you as little as possible. Show them comparable salaries for the same position paying more and make them match it. If they won't match it find someone who will. 5. Don't correct your boss/salesperson when they are presenting to management/customers. Instead, let them know after the meeting. Your #2 points (both of them) are something that I struggled with when I was new in my career. It was incredibly frustrating to *know* something, but not have anyone listen due to the fact that I was a 'kid'. Unfortunately it's a part of life. If you can do #2 and #3 on my list for a couple of years people will start listening. It's a great feeling being a 24 year old kid in a room full of my boss's bosses, and my boss's boss's bosses and having them listen and consider my opinion, but it's not something that's given to everyone. You need to earn it.",
"title": ""
},
{
"docid": "b9146230498e72a23efa47896bcf62b6",
"text": "\"Hi guys, hopefully someone reads this even though this thread has gotten kind of old. Might ask again next week. Anyway, I'm a finance student and currently an intern for a big FS company. My internship is pretty fun and I'm learning a lot, but very little technical skills (the internship is in compliance and that's not where I want to end up after I graduate). My question is, over the summer, what should I learn? As in, take online courses on coursera or by reading a book. I know you'll probably answer \"\"Whatever interests you\"\", but with limited knowledge on the matter, it all seems equally interesting to me. Should I try myself at programming? What language? Should I learn excel modelling? Does anyone have any suggestions?\"",
"title": ""
},
{
"docid": "ddd428be039237dadd3db4178599ba5e",
"text": "But I'm not choosing to forgo negotiating on my own. Someone else with ties to the listings is giving special access to my negotiations. Given access I can't get. I'd rather negotiate on my own, usually adding someone in the middle of a conversation between 2 individuals is bad for everyone. I'm not being given the option to negotiate on my own, I either take the artificially inflated rate or skip investing all together because I can't get the access that HFT's have, nor can I negotiate around them.",
"title": ""
},
{
"docid": "bcb7fc910fe1d242fcc4a395828b5462",
"text": "\"This isn't negotiations anymore. They are trying to change the deal after the fact. Stop negotiating and tell them they are bound to the agreement they signed. They are leaning on you because they know you are small and likely can't fight them. Document every conversation. Do not allow them to keep pushing after they've signed the agreement. They accepted your bid (after giving your pricing to a competitor, which is shitty and should have been your first red flag). Then they started working on you. At that point your answer should have been \"\"we have a verbal agreement of x services for y price. A different scope of work is not scalable and would require a new quote.\"\" At this point you can either accept that they will continue to beat you up, or you can jam the contract down their throats until they agree or walk away. I've been in a situation like this before. A major multinational asked for bid pricing that was agreed to be estimated only based on very loose requirements. Then they handed us a contract with that pricing included as \"\"not to exceed\"\". We ended up walking away. It sounds like you may want to do the same if you can. Big companies often will have legal and payables departments that basically exist to fight any obligation to pay out money. In our case shortly after we ran into someone in our industry who'd worked with that company, and they said to assume that company would reject 30% of all invoices we sent. If nothing else, to delay payment just a bit longer so they could keep earning interest on the money. Also, in the future I wouldn't turn away work until you are under a signed contract for a big project like this. You can't rely on such a contract to come through. If they drag feet and your schedule is full that's on them, or you bring in additional help or subcontract the work to deliver.\"",
"title": ""
},
{
"docid": "19b5d2be7698c11847c1aefa1ecc9f81",
"text": "This guy is doing you a *huge* favor by taking his time out to talk to you. These people are under enormous time constraints and you need to act accordingly. Don't babble on about what you're doing as an intern; the company could have hundreds of interns doing this exact same thing, and it's probably boring as hell. Focus on asking high level questions about his career, his lessons learned, and his vision for the company. This man is going to be a treasure trove of advice and knowledge. Don't waste it talking about the LBO model you cranked out last week.",
"title": ""
},
{
"docid": "0851e27e6bc92edd842cea594ac6dc7c",
"text": "Tons of resources out there for you. Look up guides on wallstreetoasis, vault, or mergersandinquisitions. Think of it this way. People tied to market hours aka trading floors have the best work life balance. The people working extreme hours are those in IB. Those are the guys doing M&A, IPOs, debt issuances etc.",
"title": ""
},
{
"docid": "3c00b6ea2dfa1281ae1da6b4e899e44d",
"text": "I'm in America on student visa and I can have 12 months of paid internship. I'd rather not waste the 12 months on a sophomore internship, you know? Of course, I'd still love to be paid for what I do and think that might make me try harder.",
"title": ""
},
{
"docid": "8a84a8dd53d74f2da29b8bc18246c0b6",
"text": "As a developer in a former life, I would not even get out of bed for $50 an hour. My normal charge out rate for ANY computer work at all is $100/hour + 15% tax. Don't want to pay that much? Find someone else. I never ever had anyone ever try to negotiate a deal, and I only ever worked on an hourly basis. And only when it suited me. I struggle to understand how anyone could ever accept any kind of coding job for $15 an hour - *even if they lived in India*.",
"title": ""
},
{
"docid": "75019fd7b1f430fe4279514984cefb53",
"text": "\"You have to be firm. Refuse to work excessive overtime. This is why I switched to consulting. 16 hour days suck, but if you're billing for 16 hours, it makes it more bearable. I've recently switched to the \"\"I only care about money\"\" mode of thinking, and switched to hourly pay after being salaried for almost 10 years. And it's not that it's the only thing that matters, but a lot of the rest of this stuff falls into place. It really simplifies things. You don't work for free. Your time is seen as a commodity. You are given goals and targets. You're not dragged into unnecessary meetings. Your opinion is respected. If you have to work saturday, you're sure as hell billing for it. If I take off at 2pm because I want to watch a hockey game, I just stop billing at 2 and there isn't this \"\"I'm not getting my money's worth!\"\" feeling from the manager.\"",
"title": ""
},
{
"docid": "fca1725d17739eccc4c807de579783cc",
"text": "The sense of entitlement absolutely horrors me. Suck it up, do whatever work they need you to do for the time being. You're an intern. AND you're getting paid. Believe you me, there are a million others that would kill for a position like that and are in much worse circumstances. Don't take it for granted.",
"title": ""
},
{
"docid": "37f5dc066f7d6400ebc49c8427eaee4c",
"text": "What are your alternatives? If you have something else lined up that is better than this internship, then yes, you should jump ship. Remember, you are your first priority. Don't worry about getting burned, and don't necessarily trust someone's promises. Many people in your life will overpromise and underdeliver. With that said, if you don't have something to fall back on (that can provide relevant experience that you're looking for), then stick it out. Selling (including cold-calling) is an extremely important skill to have; there will be many times in the future where you will have to sell something, whether it's yourself, or an idea, or some other product. Use this internship as an opportunity to improve your sales skills, your English, and overcome your shyness. Take time to learn as much as you can - whether it's about running a business, your boss's previous experience, or anything else that may come in handy in the future. Good luck!",
"title": ""
},
{
"docid": "12ede1663d77bf7b591554ba306421cb",
"text": "Also, take advantage of off-season times. I say this because anyone from senior associates (fancy way of saying second years isn't it?) to managers will have free time for a little chat here and there. These brief moments helped me get an e-mail or some way of contacting them after I left the internship. Definitely helps.",
"title": ""
},
{
"docid": "c2d726af75eecdf0ffefcd93f9e2625d",
"text": "Rule of thumb: Double your hourly rate to get a yearly salary (in thousands). Halve your yearly salary to get your hourly rate. (assuming a 40hr/week job). eg: $50k/year = $25/hr.",
"title": ""
},
{
"docid": "eea277229a31bb3a52cb07a41ce3bd35",
"text": "\"If you're really a part-time worker, then there are some simple considerations.... The remote working environment, choice of own hours, and non-guarantee of work availability point to your \"\"part-time\"\" situation being more like a consultancy, and that would normally double or triple the gross hourly rate. But if they're already offering or paying you a low hourly figure, they are unlikely to give you consultant rates.\"",
"title": ""
},
{
"docid": "b13237716708f98ebcff94c5faa2671e",
"text": "Good deal - glad to help. It seems little is discussed and even less is actually known about this part of the back office. I've found a bit of recon and certain other ops exposure is invaluable no matter where you want to end up in a firm. [FINRA 4523 \\(pdf\\)](http://www.finra.org/web/groups/industry/@ip/@reg/@notice/documents/notices/p123733.pdf) was the latest buzz at the office earlier this year.",
"title": ""
}
] | fiqa |
3edef8bb5daf07f1c558da94134e944d | Is it wise to invest in a stock with a large Div yield? | [
{
"docid": "f28f50d44f6bb36c97ceb1f8fd233f50",
"text": "You should not buy soley for the dividend. The price of BHP is going down for a reason. If you hold until the full years dividend is paid you will make 11% (which is $110 if you bought $1000 worth of shares), but if the share price keeps dropping, you might lose 50% on the stock. So you make $110 on dividends but lose $500 on stock price drop. A perfect way to lose money.",
"title": ""
},
{
"docid": "4233f49ef04511ef2ae08cab80a2afc7",
"text": "There have been many interesting and correct answers but to give a direct answer to your first question, dividend yield is simply dividend over current share price. So, if the share price drops, your dividend yield increases proportionately. Dividend yield is not something one should use as the only source of information of whether a stock is a good/bad buy. It does not show many important factors: the riskiness of the company business, its financial position, profitability, ability to generate cash. Furthermore, dividend yield is just a snapshot of an income gain at a given point in time. It does not mean that this very dividend policy is going to continue in the future (especially not so if the company finances this dividend payments using not its own cash reserves but outside capital by issuing debt securities, which is unsustainable).",
"title": ""
},
{
"docid": "8eeba72256657916fd5a9d0e79bb538e",
"text": "\"IMO, what it seems like you've done is nothing more than having screened out a company worth further investigation. The next step would be a thorough analysis of the company's past financials and current statements to arrive at your own opinion / forecast of the immediate and far future of the company's prospects. Typically, this is done by looking at the company's regulatory filings, and maybe some additional searching on comparison businesses. There are many sources of instruction for how one might \"\"value\"\" or \"\"analyze\"\" a company, or that provide help on \"\"reading a balance sheet\"\". (This is not an easy skill to learn, but it is one that will prove invaluable over a lifetime of investing.) It is possible that you'll uncover a deteriorating business where the latest selling, and subsequent drop in price that caused the high yield, is well-deserved. In which case, you know to stay away and move on to the next idea. On the other hand, you might end up confident that the company is not suffering from a drop in sales, rise in expenses, growing debt payments, loss of \"\"moat\"\", etc. In which case, you've found a great investment candidate. I say candidate because you still may decide this company isn't for you, even if the financials are right, because you might find better opportunities for an equal, or acceptable, return at lower risk while you're researching. As to the yield being high when there are no problems with the fundamentals of the business, this may simply be because of panic selling during this past few week's downturn, or some other sort of temporary and superficial scare. However, be warned that the masses can remain irrational, and thus the price stay suppressed or even drop further, for longer than you're willing to wait for your ROI. The good news is that in that case, you're being well compensated to wait at a 11+% yield!\"",
"title": ""
},
{
"docid": "eb6b47a23a60f360667924d2df0875dc",
"text": "BHP Billiton has room to answer doubters as commodities rout batters debt notes in part: There has been speculation that the company could cut its shareholder dividend, while Liberum Capital analyst Richard Knights has suggested BHP might look to raise as much as $US10 billion ($14.3 billion) in new equity capital. If the dividend is cut, you won't see 11% and the share price may well decline further. There is a possibility of big losses here given the change in the prices of the products the company sells. To add from another source The only reason BHP trades on a yield of more than 8% is because the market is pricing in a cut to the dividend. According to consensus earnings estimates for 2016 and 2017, earnings per share will be $0.86 and $1.27 respectively. Dividends per share forecasts are $1.83 and $1.81 respectively.",
"title": ""
}
] | [
{
"docid": "cafffcc507a7d7a0376e05fbf08013fd",
"text": "Nobody can give you a safe 6% return with that portfolio under current conditions. It looks like the current 10 year treasury is yielding about 2.2%. With 60% in bonds, the stocks would have to yield about 12%, which just isn't happening safely now.",
"title": ""
},
{
"docid": "d1ea51f3ed86b6d3207389c9309adb06",
"text": "Your cons say it all. I would not be buying stocks based soley on a high dividend yield. In fact companies with very high dividend yields tend to do poorer than companies investing at least part of their earnings back into the company. Make sure at least that the company's earnings is more than the dividend yield being offered.",
"title": ""
},
{
"docid": "655caf02c7a72345927269b3ff4e2b1a",
"text": "It's tough to borrow fixed and invest risk free. That said, there are still some interesting investment opportunities. A 4% loan will cost you 3% or less after tax, and the DVY (Dow high yielders) is at 3.36% but at a 15% favored rate, you net 2.76% if my math is right. So for .5%, you get the fruits of the potential rise in dividends as well as any cap gains. Is this failsafe? No. But I believe that long term, say 10 years or more, the risk is minimal.",
"title": ""
},
{
"docid": "683104378e7088f185902f2ccb001608",
"text": "\"No. That return on equity number is a target that the regulators consider when approving price hikes. If PG&E tried to get a 20% RoE, the regulator would deny the request. Utilities are basically compelled to accept price regulation in return for a monopoly on utility business in a geographic area. There are obviously no guarantees that a utility will make money, but these good utilities are good stable investments that generally speaking will not make you rich, but appreciate nicely over time. Due to deregulation, however, they are a more complex investment than they once were. Basically, the utility builds and maintains a bunch of physical infrastructure, buys fuel and turns it into electricity. So they have fixed costs, regulated pricing, market-driven costs for fuel, and market-driven demand for electricity. Also consider that the marginal cost of adding capacity to the electric grid is incredibly high, so uneven demand growth or economic disruption in the utility service area can hurt the firms return on equity (and thus the stock price). Compare the stock performance of HE (the Hawaiian electric utlity) to ED (Consolidated Edison, the NYC utility) to SO (Southern Companies, the utility for much of the South). You can see that the severe impact of the recession on HE really damaged the stock -- location matters. Buying strategy is key as well -- during bad market conditions, money flows into these stocks (which are considered to be low-risk \"\"defensive\"\" investments) and inflates the price. You don't want to buy utilities at a peak... you need to dollar-cost average a position over a period of years and hold it. Focus on the high quality utilities or quality local utilities if you understand your local market. Look at Southern Co, Progress Energy, Duke Energy or American Electric Power as high-quality benchmarks to compare with other utilities.\"",
"title": ""
},
{
"docid": "47693cc23fde88c8eed203721d2aebe5",
"text": "\"I primarily intend to add on to WBT's answer, which is good. It has been shown that \"\"momentum\"\" is a very real, tangible factor in stock returns. Stocks that have done well tend to keep doing well; stocks that are doing poorly tend to keep doing poorly. For a long-term value investor, of course fundamental valuation should be your first thing to look at - but as long as you're comfortable with the company's price as compared to its value, you should absolutely hang onto it if it's been going up. The old saying on Wall Street is \"\"Cut your losses, and let your winners ride.\"\" As WBT said, there may be some tangible emotional benefit to marking your win while you're ahead and not risking that it tanks, but I'd say the odds are in your favor. If an undervalued company starts rising in stock price, maybe that means the market is starting to recognize it for the deal it is. Hang onto it and enjoy the fruits of your research.\"",
"title": ""
},
{
"docid": "25bba446bab6025f3ba5a43c75c5eea3",
"text": "In general, investors with a long period of time until they would need to withdraw the cash are best off holding mostly equities. While the dividends that equities would return are less than the interest you would get in peer-to-peer lending, over long periods of time not only do you get the dividends from equity investment but the value of the stock will grow faster than interest on loans. The higher returns from stocks, however, comes with more risk of big downturns. Many people pull their investments out of stocks right after crashes which really hurts their long term returns. So, in order to get the benefit of investing in stocks you need to be strong enough to continue to hold the stocks through the crash and into the recovery. As for which stocks to invest in, generally it is best to invest in low-fee index funds/etfs where you own a broad collection of stocks so that if (when) any one stock goes bust that your portfolio does not take much damage. Try to own both international and domestic stocks to get good diversification. The consensus recommends adding just a little bit of REITs and bonds to your investments, but for someone at 25 it might not be worth it yet. Warren Buffett had some good thoughts on index investing.",
"title": ""
},
{
"docid": "0d008a892deb44faa5fcc7a59cdb2cb0",
"text": "\"I'll give the TLDR answer. 1) You can't forecast the price direction. If you get it right you got lucky. If you think you get it right consistently you are either a statistical anomaly or a victim of confirmation bias. Countless academic studies show that you can not do this. 2) You reduce volatility and, importantly, left-tail risk by going to an index tracking ETF or mutual fund. That is, Probability(Gigantic Loss) is MUCH lower in an index tracker. What's the trade off? The good thing is there is NO tradeoff. Your expected return does not go down in the same way the risk goes down! 3) Since point (1) is true, you are wasting time analysing companies. This has the opportunity cost of not earning $ from doing paid work, which can be thought of as a negative return. \"\"With all the successful investors (including myself on a not-infrequent basis) going for individual companies directly\"\" Actually, academic studies show that individual investors are the worst performers of all investors in the stock market.\"",
"title": ""
},
{
"docid": "7b02b98626fee0603c28741c38a3d1b7",
"text": "I wouldn't recommend leveraged dividend fishing. Dividend stocks with such high dividends are highly volatile, you will run out of collateral to cover your trades very quickly",
"title": ""
},
{
"docid": "e5463efbd7bbd2ec1075a4e72ed4bbfa",
"text": "\"It's a trade-off. The answer depends on your risk tolerance. Seeking higher rewards demands higher risk. If you want advice, I would recommend hiring an expert to design a plan which meets your needs. As a sample point, NOT necessarily right for anyone else...I'm considered an aggressive investor, and my own spread is still more conservative than many folks. I'm entirely in low-cost index funds, distributed as ... with the money tied up in a \"\"quiesced\"\" defined-contribution pension fund being treated as a low-yield bond. Some of these have beaten the indexes they're tracking, some haven't. My average yield since I started investing has been a bit over 10%/year (not including the company match on part of the 401k), which I consider Good Enough -- certainly good enough for something that requires near-zero attention from me. Past results are not a guarantee of future performance. This may be completely wrong for someone at a different point in their career and/or life and/or finances. I'm posting it only as an example, NOT a recommendation. Regarding when to rebalance: Set some threshhold at which things have drifted too far from your preferred distribution (value of a fund being 5% off its target percentage in the mix is one rule I've sometimes used), and/or pick some reasonable (usually fairly low) frequency at which you'll actively rebalance (once a year, 4x/year, whenever you change your car's oil, something like that), and/or rebalance by selecting which funds you deposit additional money into whenever you're adding to the investments. Note that that last option avoids having to take capital gains, which is generally a good thing; you want as much of your profit to be long-term as possible, and to avoid triggering the \"\"wash sales\"\" rule. Generally, you do not have to rebalance very frequently unless you are doing something that I'd consider unreasonably risky, or unless you're managing such huge sums that a tiny fraction of a percent still adds up to real money.\"",
"title": ""
},
{
"docid": "bf1d1ea0e3677666ea9f6e49220977f5",
"text": "\"RED FLAG. You should not be invested in 1 share. You should buy a diversified ETF which can have fees of 0.06% per year. This has SIGNIFICANTLY less volatility for the same statistical expectation. Left tail risk is MUCH lower (probability of gigantic losses) since losses will tend to cancel out gains in diversified portfolios. Moreover, your view that \"\"you believe these will continue\"\" is fallacious. Stocks of developed countries are efficient to the extent that retail investors cannot predict price evolution in the future. Countless academic studies show that individual investors forecast in the incorrect direction on average. I would be quite right to objectively classify you as a incorrect if you continued to hold the philosophy that owning 1 stock instead of the entire market is a superior stategy. ALL the evidence favours holding the market. In addition, do not invest in active managers. Academic evidence demonstrates that they perform worse than holding a passive market-tracking portfolio after fees, and on average (and plz don't try to select managers that you think can outperform -- you can't do this, even the best in the field can't do this). Direct answer: It depends on your investment horizon. If you do not need the money until you are 60 then you should invest in very aggressive assets with high expected return and high volatility. These assets SHOULD mainly be stocks (through ETFs or mutual funds) but could also include US-REIT or global-REIT ETFs, private equity and a handful of other asset classes (no gold, please.) ... or perhaps wealth management products which pool many retail investors' funds together and create a diversified portfolio (but I'm unconvinced that their fees are worth the added diversification). If you need the money in 2-3 years time then you should invest in safe assets -- fixed income and term deposits. Why is investment horizon so important? If you are holding to 60 years old then it doesn't matter if we have a massive financial crisis in 5 years time, since the stock market will rebound (unless it's a nuclear bomb in New York or something) and by the time you are 60 you will be laughing all the way to the bank. Gains on risky assets overtake losses in the long run such that over a 20-30 year horizon they WILL do much better than a deposit account. As you approach 45-50, you should slowly reduce your allocation to risky assets and put it in safe haven assets such as fixed income and cash. This is because your investment horizon is now SHORTER so you need a less risky portfolio so you don't have to keep working until 65/70 if the market tanks just before retirement. VERY IMPORTANT. If you may need the savings to avoid defaulting on your home loan if you lose your job or something, then the above does not apply. Decisions in these context are more vague and ambiguous.\"",
"title": ""
},
{
"docid": "ee000eda9fda8d9a922a0c33865f3118",
"text": "There can be the question of what objective do you have for buying the stock. If you want an income stream, then high yield stocks may be a way to get dividends without having additional transactions to sell shares while others may want capital appreciation and are willing to go without dividends to get this. You do realize that both Pfizer and GlaxoSmithKline are companies that the total stock value is over $100 billion yes? Thus, neither is what I'd see as a growth stock as these are giant companies that would require rather large sales to drive earnings growth though it may be interesting to see what kind of growth is expected for these companies. In looking at current dividends, one is paying 3% and the other 5% so I'm not sure either would be what I'd see as high yield. REITs would be more likely to have high dividends given their structure if you want something to research a bit more.",
"title": ""
},
{
"docid": "075700e1a0c8d91865339a4c8c4fdc1f",
"text": "\"As you note, your question is inherently opinion-based. That said, if I were in your situation I would sell the stock all at once and buy whatever it is you want to buy (hopefully some index ETF or mutual fund). According to what I see, the current value of the HD stock is about $8500 and the JNJ stock is worth less than $500. With a total investment of less than $10,000, any gain you are likely to miss by liquidating now is not going to be huge in absolute terms. This is doubly true since you were given the stock, so you have no specific reason to believe it will do well at all. If you had picked it yourself based on careful analysis, it could be worth keeping if you \"\"believed in yourself\"\" (or even if you just wanted to test your acumen), but as it is the stock is essentially random. Even if you want to pursue an aggressive allocation, it doesn't make sense to allocate everything to one stock for no reason. If you were going to put everything in one stock, you'd want it to be a stock you had analyzed and picked. (I still think it would be a bad idea, but at least it would be a more defensible idea.) So I would say the risk of your lopsided allocation (just two companies, with more than 90% of the value in just one) outweighs any risk of missing out on a gain. If news breaks tomorrow that the CEO of Home Depot has been embezzling (or if Trump decides to go on the Twitter warpath for some reason), your investment could disappear. Another common way to think about it is: if you had $9000 today to buy stocks with, would you buy $8500 worth of HD and $500 worth of JNJ? If not, it probably doesn't make sense to hold them just because you happen to have them. The only potential exception to my advice above would be tax considerations. You didn't mention what your basis in the stock is. Looking at historical prices, it looks like if all the stock was 20 years old you'd have a gain of about $8000, and if all of it was 10 years old you'd have a gain of about $6000. If your tax situation is such that selling all the stock at once would push you into a higher tax bracket, it might make sense to sell only enough to fit into your current bracket, and sell the rest next year. However, I think this situation is unlikely because: A) since the stock has been held for a long time, most of the gains will be at the lower long-term rate; B) if you have solid income, you can probably afford the tax; and C) if you don't have solid income, your long-term capital gains rate will likely be zero.\"",
"title": ""
},
{
"docid": "5e78f2494d052c35cef96846a9158a3b",
"text": "You can use long-term options called LEAPS to increase dividend yield. Here's how it works: Let's say you buy a dividend-yielding stock for $38 that pays an annual dividend of $2 for a 5.3% yield. Next, you SELL a deep-in-the-money LEAPS options. In this hypothetical we'll sell the $25 call option for $13. That now reduces our cost basis from $38 to $25. Since the dividend remains @ $2, our yield is now $2/$25 = 8%. Now there are issues that may need to be dealt with like early assignment of the option where rolling the option may be necessary. More details of this strategy can be found on my website.",
"title": ""
},
{
"docid": "565b9544c89d35295a9af661cc3a06fd",
"text": "\"If you have someplace to put the money which you think will yield significantly better returns, by all means sell and buy that. On the other hand, if you think this stock is likely to recover its value, you might want to hold it, or even buy more as a \"\"contrarian\"\" investment. Buy low, sell high, as much as possible. And diversify. You need to make a judgement call about the odds. We can point out the implications, but in the end whether to sell, buy, hold or hedge is your decision. (This also suggests you need to sit down and draw up a strategy. Agonizing over every decision is not productive. If you have a plan, you make this sort of decision before you ever put money into the stock in the first place.)\"",
"title": ""
},
{
"docid": "5ee5f967f040a013fe5a5188ca5f7d40",
"text": "Capital gain distribution is not capital gain on sale of stock. If you have stock sales (Schedule D) you should be filing 1040, not 1040A. Capital gain distributions are distributions from mutual funds/ETFs that are attributed to capital gains of the funds (you may not have actually received the distribution, but you still may have gain attributed to you). It is reported on 1099-DIV, and if it is 0 - then you don't have any. If you sold a stock, your broker should have given you 1099-B (which is not the same as 1099-DIV, but may be consolidated by your broker into one large PDF and not provided separately). On 1099-B the sales proceeds are recorded, and if you purchased the stock after 2011 - the cost basis is also recorded. The difference between the proceeds and the cost basis is your gain (or loss, if it is negative). Fees are added to cost basis.",
"title": ""
}
] | fiqa |
812eaf33d2177a0a3625240e04bc49b4 | How can rebuilding a city/large area be considered an economic boost? | [
{
"docid": "5251b993f2df61493ab1d3a961a1ff8a",
"text": "\"You are not wrong. This is called the \"\"Broken Window\"\" fallacy in economics. Imagine if 20% of a population was employed to go around breaking windows. This would stimulate the economy as many people would have to be employed to make new windows, repair the broken windows, etc.. The problem is that everyone would have been better off if they didn't have to spend their valuable resources on repairing a perfectly functioning window. Although many people will be employed to rebuild Japan, this doesn't improve the standard of living for the folks in Japan.\"",
"title": ""
},
{
"docid": "10a656c7c1d2ca87a162b1eaeab7a979",
"text": "\"You're entirely correct. It's one of those \"\"broken window\"\" fallacies. Have you ever witnessed the anger of the good shopkeeper, James B., when his careless son happened to break a square of glass? If you have been present at such a scene, you will most assuredly bear witness to the fact, that every one of the spectators, were there even thirty of them, by common consent apparently, offered the unfortunate owner this invariable consolation - \"\"It is an ill wind that blows nobody good. Everybody must live, and what would become of the glaziers if panes of glass were never broken?\"\" Frederic Bastiat's 1850 essay, \"\"That which is seen and that which is not seen\"\" is still the best and most beautifully-written of such explanations. As you point out, a gain for the construction companies is more than offset by the loss of life and financial expenditure of the insurance companies. Plus, it is never possible to quantify the entirety of the loss in terms of opportunities foregone (\"\"that which is not seen\"\"). People who were about to do incredible things but now gone. Property, of any nature, no longer of use to build on or perform service. Any replacement comes at the expense of other opportunities.\"",
"title": ""
},
{
"docid": "3ad3d880e9d7646869f8714ddd5dd6f0",
"text": "The problem here is that the metrics that are used to track the economy are looking for things like growth and change. In a perfect world, everyone would have exactly what they need and there would no need for economists because the economy would be static.",
"title": ""
},
{
"docid": "941cf2ba28a5fb1b15c47aea99340118",
"text": "It will have some positives, and some negatives. The hardest hit will be the insurance agencies, as well as banks. Manufacturing will also take a short term hit. When insurance payments come out, then there will be a boom in construction, consumer goods, industrial goods, etc. Companies will upgrade their equipment whereas before they might have let it run for another 10-20 years or longer. After all, if you are going to buy something, you aren't going to get it used, you'll get something more modern. Of course, Japan already was one of the most modern countries in the world, so they likely won't see as many gains as other countries, but this would hold more true in a less technologically advanced society. Long term, 10-20 years down the line, when everything is rebuilt, it might have a slight positive increase in productivity, but this will be somewhat offset because Japan already is such a technological powerhouse, and on the cutting edge in many technologies. But I agree, it's quite foolish to say that it'll improve the economy of Japan, some clarification should be done to clear that one up...",
"title": ""
},
{
"docid": "0633c29b92b10aa9f2da6b268fb35e2f",
"text": "\"The people who benefit are large engineering and construction companies, manufacturers of construction equipment, bankers and lawyers. So in the world of realpolitik that we live in, the misery of millions of \"\"other people\"\" is spun as a net benefit, because \"\"we\"\" benefit from that misery.\"",
"title": ""
},
{
"docid": "c964a2755a0c7300abb81a9c680931f6",
"text": "It certainly creates an opportunity for the re-distribution of wealth. Money will be transferred from insurance companies to construction companies. Businesses that go under will be replaced by ones that survived. Some companies will make a profit out of this, but as you have already figured out, no new wealth is created by the disaster. (Although lots has been destroyed, so we are looking at a net loss.)",
"title": ""
},
{
"docid": "515fe077377723f8c17b8faab6fa23c4",
"text": "Wikipedia's article on the Parable of the broken window mentions that Keynesians would argue that broken windows can be useful in depressed economies. I think Japan's economy was somewhat depressed, so if it applies anywhere, it'd apply in this scenario.",
"title": ""
}
] | [
{
"docid": "7553c50f195a743abb304f1d7a6f6530",
"text": "Until there is a significant price pressure, it’s always going to be cost prohibitive to build high in earthquake prone zones. Those mitigation measures don’t come cheap at all. As for the skyline, eh, that’s subjective. If the local culture values a “small town” or even bucolic feel, keeping buildings below tree lines isn’t regressive at all.",
"title": ""
},
{
"docid": "9c325f06ff7af83af85a9381786b15a0",
"text": "No. Our taxes allocated the resources necessary for us to have roads, power, and all the nice facilities we use. The rich benefited from the government offering them the jobs to build these things. Or did you forget about that part? You sound like you think the rich are altruistic. If they were, would we really be in the situation we are today, with the increasing wage gap and people distrusting big business? No. We would laud big business as our saviors and protectors, would have confidence that big business is there if we fall down, to pick us up. But big business has shown it is more about back stabbing than helping.",
"title": ""
},
{
"docid": "99cea4ea29b3d66ca884f401306360e1",
"text": "Chicago has several neighborhoods going through that same gentrification cycle. There are several more city neighborhoods that will probably see that kind of rebuilding before Gary, many of which you pass through traveling between downtown and Gary. Transit between Chicago and Gary exists, but it's not as good as transit to other suburbs because of the lack of cooperation between Illinois and Indiana.",
"title": ""
},
{
"docid": "dbf0a8bf5ebf1b3e1ed132596db4939a",
"text": "Building tanks and helicopters is the use of the countries economic resources for goods that provide no net benefit to the economy beyond their construction price. If, for example, the government wanted to stimulate the economy by spending $1 trillion on something, sure, the country's GDP would by definition increase by $1 trillion, and there'd probably be some multiplier effect by those workers now having additional money to spend on other goods. There's also going to be some negative effects on other sectors of the economy because the prices for labor and raw materials will go up because of the increased demand from the government. If the government is buying $100 billion in steel and aluminum, you can bet that the spot prices of steel and aluminum is going to jump up, squeezing any private industries that need to buy those resources. Now the question is what do you spend that $1 trillion on to get the biggest bang for your buck. Military hardware accomplishes the goal of having something disposable to buy with $1 trillion, but little additional benefit to the private economy. If you instead spent $1 trillion on building infrastructure (bridges/roads/dams/pipelines/flood control), scientific research, or education, you've now generated goods that have their own intrinsic value to society beyond their cost - whether it be less traffic, new scientific discoveries, or a more educated workforce.",
"title": ""
},
{
"docid": "c869a09ee00b8672fb4f041bf9835f20",
"text": "Which will almost certainly cause more of a real estate bubble in the urban core. If you can't afford to live there you don't get a good job and the local councils will strike down attempts to build more housing. This will not end well.",
"title": ""
},
{
"docid": "8556398e6e591a6e2ab338b1ae6087d6",
"text": "In a way this is good because it encourages people to move out of these high cost areas to lower cost. Over time that will tend to even out the problem and move resources around the country. Anyone waiting for NYC to become cheap again is just plain stupid. It didn't even get cheap in the 2008 crash.",
"title": ""
},
{
"docid": "a3d4e2f50066dd7f36ddafc743b62f23",
"text": "Don't try because it's a moving target. A thriving economy on paper can be entirely valuation based. It tells you nothing about distribution of wealth in the economy. The majority would be destitute and we could still be talking of booming times if speculative markets can find creative ways of growing valuations of existing assets with credi growth. All that is needed is for two people to bid a painting to 100 million for the painting to have contributed positively to a growth in the value of goods and services in the economy. The same is done with intellectual property and corporate valuations. Good times are times when capital gains can be seized on account of expansionin of credit or government spending. Recessions are closer when governments try and pull in more than they spend and when lending can't expand. Government spending is increaasing these days despite talk of the contrary.",
"title": ""
},
{
"docid": "d06525efe0150a80ee674745dfe0cf60",
"text": "It’s really hard to interpret the scale of this effect. How many listings does an area need to have for this to hold true? If a town goes from 5 listings to 25 (400% increase!) would that translate to a 15% increase in average rent? Probably not. Percent of total housing stock being listed on Airbnb would probably be a better measurement. At least in NYC, the city of perpetually too high rent, the rate of rent increases has been relatively low, despite the rise of Airbnb over the last few years. Without reading the (not yet published ) study that this article is reporting on, it’s not possible to say whether the .39% increase in rent is a meaningful contribution, or a barely measurable statistic.",
"title": ""
},
{
"docid": "c736826887aa913f0544388ca51db098",
"text": "If the building has no income, it also probably has minimal expenses. The heat, water and electricity costs are nearly zero. They are letting the value depreciate, and taking it off the taxes. I also suspect the condition of the building is poor, so any effort to make the building productive would be very costly. Many cities combat this by setting the tax on empty buildings or empty lots at a much higher rate. Or they set the value of the property at a high valuation based on what it could generate. Sometimes this is only targeted at some sections of the city to encourage development. They also offer tax breaks when the owner of a house has the house as their principal residence.",
"title": ""
},
{
"docid": "46e735a6ff3da6e51a55fea9c5345e5a",
"text": "Have a beef with your proof... measuring at the county level is misleading. Baltimore county has some wealthy areas. It goes all the way up to the state line. There's plenty of more affluent pockets included in that. Same is true for Detroit, Wayne county includes many affluent areas. Rural counties however tend to be isolated and more uniform. If you're looking in Owsley Kentucky (poorest county per that article)... it's not really near anything resembling a major commerce area and there's no pockets of higher-value homes hidden anywhere like you find around major metro areas...",
"title": ""
},
{
"docid": "33cb7c8786213c9e33b8c0d18204fcf1",
"text": "I never said it didn't have a visible effect on local economies, but the total from your posts barely clicks over 100k jobs. Advances in engineering have devastated the manual labor industry much more than any outsourcing could accomplish.",
"title": ""
},
{
"docid": "6af5f8c2b9eb1c37d0314aa5c5686681",
"text": "There's nothing really there to comprehend. Cost and demand are inversely proportional. Boosting demand has the same effect as reducing costs. Actually, there is something to comprehend. People will use the appeal of central economic planning to funnel money to their pet projects. Regardless of what that project is, the allocation of resources to it by artificial means throws off equilibrium in the entire economy.",
"title": ""
},
{
"docid": "c6ab7b07e253e53eeb7ab7817fde6bd6",
"text": "No because that $100k didnt just come from nowhere, it came from tax payers. Tax payer who wouldve used the money to buy other things or use differently. the govt redirecting it to the two hole diggers does not ADD to the economy, it takes away because the capital is forced down an unproductive avenue.",
"title": ""
},
{
"docid": "f01e1a7edf63a0988a205ed059a30d2d",
"text": "You’ll find home owners calling the experts for this project as they want to sell the property. In this situation, hiring project management Sydney experts and getting renovation done gives a handsome boost to the property’s resale value and find most of the project management Sydney companies offering the service called restoration.",
"title": ""
},
{
"docid": "79d1b408f0f7af38929242b30586d28c",
"text": "\"I didn't idly pick the SF Bay as my model. That place was literally \"\"Rust-Belt West\"\" after industrial contraction starting at the end of WWII and continuing through the '70s. But the Silicon Valley boom didn't revitalize the former industrial areas, but merely a few 'gentrified' spots, *like where those buses originate*. Those 400K new 'service/support' jobs *won't pay enough* to allow the workers to live *in the city*. They'll be commuting from *beyond* the upper-crust suburbs you mention, [just like these Californians](https://www.nytimes.com/2017/08/17/business/economy/san-francisco-commute.html).\"",
"title": ""
}
] | fiqa |
d43652a8993b3c37bc8a114bbc53e6e0 | Huge return on investment, I feel like im doing the math wrong | [
{
"docid": "75aa836bc1953b760977b22d48272ce3",
"text": "\"Your math is correct. These kind of returns are possible in the capital markets. (By the way, Google Finance shows something completely different for $CANV than my trading console in ThinkorSwim, ToS shows a high of $201, but I believe there may have been some reverse splits that are not accurately reflected in either of these charts) The problems with this strategy are liquidity and timing. Let's talk about liquidity, because that is a greater factor here than the random psychological factors that would have affected you LONG LONG before your $1,000 allowance was worth a million dollars. If you bought $1000 worth of this stock at $.05 share, this would have been 20,000 shares. The week of October 11th, 2011, during the ENTIRE WEEK only 5,000 shares were traded. From this alone, you can see that it would have been impossible for you to even acquire 20,000 shares, for yourself at $.05 because there was nobody to sell them to you. We can't even look at the next week, because there WERE NO TRADES WHATSOEVER, so we have to skip all the way to November 11th, where indeed over 30,000 shares were traded. But this pushed the price all the way up to $2.00, again, there was no way you could have gotten 20,000 shares at $.05 So now, lets talk about liquidation of your shares. After several other highs and lows in the $20s and $30s, are you telling me that after holding this stock for 2 years you WOULDN'T have taken a $500,000 profit at $25.00 ? We are talking about someone that is investing with $1,000 here. I have my doubts that there was no time between October 2011 and January 2014 that you didn't think \"\"hm this extra $100,000 would be really useful right now.. sell!\"\" Lets say you actually held your $1,000 to $85.55 there were EXACTLY TWO DAYS where that was the top of the market, and in those two days the volume was ~24,000 shares one day and ~11,000 shares the next day. This is BARELY enough time for you to sell your shares, because you would have been the majority of the volume, most likely QUADRUPLING the sell side quotes. As soon as the market saw your sell order there would be a massive selloff of people trying to sell before you do, because they could barely get their shares filled (not enough buyers) let alone someone with five times the amount of shares that day. Yes, you could have made a lot of money. Doing that simplistic math does not tell you the whole story.\"",
"title": ""
},
{
"docid": "93bdbbc9daf376e89634e3866c91d926",
"text": "\"And now it is at about $3. Many times \"\"skeletons\"\" are bought and inflated for various reasons. Some are legitimate (for example a private business merging into a defunct but public corporation to avoid wasting resources on going public), some are not (mainly pump-and-dump scams that are using \"\"skeletons\"\"). I don't know what was the case here (probably speculation based on the new marijuana laws in the US), but clearly the inflated price was completely unjustified since it went crashing down.\"",
"title": ""
}
] | [
{
"docid": "a0f9c638a7c7fec5710781b49a98dfc8",
"text": "The math is wrong. $16m grows to $72b over 44 years at 21% return (exact return is (72000/16)^(1/44) - 1 = 0.21067). At one percentage point lower return, i.e. 20%, $16m grows to $50b (16m x 1.21^44 = 49.985b). In that case you would have paid about 30 percent of your gain in fees. Still a lot, but not severe. Even the calculation of percent fees is wrong in the article!",
"title": ""
},
{
"docid": "46209eafc0c865103c6e95b81c4e4564",
"text": "I've spent enough time researching this question where I feel comfortable enough providing an answer. I'll start with the high level fundamentals and work my way down to the specific question that I had. So point #5 is really the starting point for my answer. We want to find companies that are investing their money. A good company should be reinvesting most of its excess assets so that it can make more money off of them. If a company has too much working capital, then it is not being efficiently reinvested. That explains why excess working capital can have a negative impact on Return on Capital. But what about the fact that current liabilities in excess of current assets has a positive impact on the Return on Capital calculation? That is a problem, period. If current liabilities exceed current assets then the company may have a hard time meeting their short term financial obligations. This could mean borrowing more money, or it could mean something worse - like bankruptcy. If the company borrows money, then it will have to repay it in the future at higher costs. This approach could be fine if the company can invest money at a rate of return exceeding the cost of their debt, but to favor debt in the Return on Capital calculation is wrong. That scenario would skew the metric. The company has to overcome this debt. Anyways, this is my understanding, as the amateur investor. My credibility is not even comparable to Greenblatt's credibility, so I have no business calling any part of his calculation wrong. But, in defense of my explanation, Greenblatt doesn't get into these gritty details so I don't know that he allowed current liabilities in excess of current assets to have a positive impact on his Return on Capital calculation.",
"title": ""
},
{
"docid": "1c8be22845f9a82bb3b4eba4039e5b34",
"text": "The relationship is not linear, and depends on a lot of factors. The term you're looking for is efficient frontier, the optimal rate of return for a given level of risk. The goal is to be on the efficient frontier, meaning that for the given level of risk, you're receiving the greatest possible rate of return (reward). http://www.investopedia.com/terms/e/efficientfrontier.asp",
"title": ""
},
{
"docid": "c59227ca475715a45c6c73bc1bac7816",
"text": "The author is using the simple Dietz method, (alternatively the modified Dietz), with the assumption that the net cash-flow occurs halfway through the time period. Let's say the time period is one year for illustration, so the cash-flow would be at the end of the second quarter. The money-weighted method gives a more accurate return, but has to be solved by trial-and-error or using a computer. The money-weighted return is 11.2718 % and the simple or modified Dietz return is 11.2676 %. When the sums are done backwards to check, the Dietz is half a dollar out with a final value of $11,999.50 while the money-weighted return recalculates exactly $12,000. It is worth pointing out that the return changes if the cash-flow is not in the middle of the time period. A case with the cash-flow at the end of Q3 is added to illustrate.",
"title": ""
},
{
"docid": "134a2b54f8d2ddefd07691afbcb16bc6",
"text": "The short answer is that you would want to use the net inflow or net outflow, aka profit or loss. In my experience, you've got a couple different uses for IRR and that may be driving the confusion. Pretty much the same formula, but just coming at it from different angles. Thinking about a stock or mutual fund investment, you could project a scenario with an up-front investment (net outflow) in the first period and then positive returns (dividends, then final sale proceeds, each a net inflow) in subsequent periods. This is a model that more closely follows some of the logic you laid out. Thinking about a business project or investment, you tend to see more complicated and less smooth cashflows. For example, you may have a large up-front capital expenditure in the first period, then have net profit (revenue less ongoing maintenance expense), then another large capital outlay, and so on. In both cases you would want to base your analysis on the net inflow or net outflow in each period. It just depends on the complexity of the cashflows trend as to whether you see a straightforward example (initial payment, then ongoing net inflows), or a less straightforward example with both inflows and outflows. One other thing to note - you would only want to include those costs that are applicable to the project. So you would not want to include the cost of overhead that would exist even if you did not undertake the project.",
"title": ""
},
{
"docid": "07a921214f64cac481e46f2455f46acd",
"text": "It is a good enough approximation. With a single event you can do it your way and get a better result, but imagine that the $300 are spread over a certain period with $10 contribution each time? Then recalculating and compounding will be a lot of work to do. The original ROI formula is averaging the ROI by definition, so why bother with precise calculations of averages that are imprecise by definition, when you can just adjust the average without losing the level of precision? 11.4 and 11.3 aren't significantly different, its immaterial.",
"title": ""
},
{
"docid": "62c2505b9c73061efe7702f188ad3fbd",
"text": "It's important to realize that any portfolio, if sufficiently diversified should track overall GDP growth, and anything growing via a percentage per annum is going to double eventually. (A good corner-of-napkin estimate is 70/the percentage = years to double). Just looking at your numbers, if you initially put in the full $7000, an increase to $17000 after 10 years represents a return of ~9.3% per annum (to check my math $7000*1.09279^10 ≈ $17000). Since you've been putting in the $7000 over 10 years the return is going to be a bit more than that, but it's not possible to calculate based on the information given. A return of 9.3% is not bad (some rules of thumb: inflation is about 2-4% so if you are making less than that you're losing money, and 6-10% per annum is generally what you should expect if your portfolio is tracking the market)... I wouldn't consider that rate of return to be particularly amazing, but it's not bad either, as you've done better than you would have if you had invested in an ETF tracking the market. The stock market being what it is, you can't rule out the possibility that you got lucky with your stock picks. If your portfolio was low-risk, a return of 9%ish could be considered amazing, but given that it's about 5-6 different stocks what I'd consider amazing would be a return of 15%+ (to give you something to shoot for!) Either way, for your amount of savings you're probably better off going with a mutual fund or an ETF. The return might be slightly lower, but the risk profile is also lower than you picking your stocks, since the fund/ETF will be more diversified. (and it's less work!)",
"title": ""
},
{
"docid": "a12da22d330b7e220f7cd8e070ac02ec",
"text": "\"You can calculate the \"\"return on investment\"\" using libreoffice, for example. Look at the xirr function. You would have 2 columns, one a list of dates (ie the dates of the deposits or dividends or whatever that you want to track, the last entry would be today's date and the value of the investment today. The xirr function calculates the internal rate of return for you. If you add money to the account, and the current value includes the original investment and the added funds, it will be difficult to calculate the ROI. If you add money by purchasing additional shares (or redepositing dividends by buying additional shares), and you only want to track the ROI of the initial investment (ignoring future investments), you would have to calculate the current value of all of the added shares (that you don't want to include in the ROI) and subtract that value from the current total value of the account. But, if you include the dates and values of these additional share purchases in the spreadsheet, xirr will calculate the overall IRR for you.\"",
"title": ""
},
{
"docid": "a990852a5fbc94b6c23aa4c32112c7c2",
"text": "There are two obvious cases in which your return is lower with a heavily leveraged investment. If a $100,000 investment of your own cash yields $1000 that's a 1% return. If you put in $50,000 of your own money and borrow $50,000 at 2%, you get a 0% return (After factoring in the interest as above.) If you buy an investment for $100,000 and it loses $1000, that's a -1% return. If you borrow $100,000 and buy two investments, and they both lose $1000, that's a -2% return.",
"title": ""
},
{
"docid": "193fcf22ed5e553406178908183e95ff",
"text": "To figure this out, you need to know the price per share then vs the price per share now. Google Finance will show you historical prices. For GOOG, the closing price on January 5, 2015 was $513.87. The price on December 31, 2015 was $758.88. Return on Investment (ROI) is calculated with this formula: ROI = (Proceeds from Investment - Cost of Investment) / Cost of Investment Using this formula, your return on investment would be 47.7%. Since the time period was one year, this number is already an annualized return. If the time period was different than one year, you would normally convert it to an annualized rate of return in order to compare it to other investments.",
"title": ""
},
{
"docid": "a4dea673d39dae97fa909527a80f3e36",
"text": "\"My feeling is that you're basically agreeing to throw away a bucket of money for a lesson that doesn't have to cost a penny. Like another commenter said, you're putting the cart before the horse. I once asked a similar question to a seasoned investor, though I wasn't in the position to toss my hard-earned cash into the well yet. He told me that the difference between the winners and losers is that the winners don't need the money. I'm not trying to say that there's a \"\"rich keep getting richer ...\"\" component here, while schlubs like me get nada. The real nugget of wisdom he offered was that if anyone wants to do well as investors, we must invest in a way that we're not dependent on the money we have in the market. Instead, manage risk carefully so that you don’t get swept up in the emotional highs and lows. For you, what I applaud is that you're willing to do your research first. And part of that should be anticipating how you will handle the anxiety when you put your money in at the wrong time or get out a little later than you should. What I understand now is that you don’t need to be wealthy to “not need the money.” You just need to invest smartly and leave your emotions out of it.\"",
"title": ""
},
{
"docid": "e14660d08b4b2fa45f1d81f43002d2c7",
"text": "\"Wow, this turns out to be a much more difficult problem than I thought from first looking at it. Let's recast some of the variables to simplify the equations a bit. Let rb be the growth rate of money in your bank for one period. By \"\"growth rate\"\" I mean the amount you will have after one period. So if the interest rate is 3% per year paid monthly, then the interest for one month is 3/12 of 1% = .25%, so after one month you have 1.0025 times as much money as you started with. Similarly, let si be the growth rate of the investment. Then after you make a deposit the amount you have in the bank is pb = s. After another deposit you've collected interest on the first, so you have pb = s * rb + s. That is, the first deposit with one period's growth plus the second deposit. One more deposit and you have pb = ((s * rb) + s) * rb + s = s + s * rb + s * rb^2. Etc. So after n deposits you have pb = s + s * rb + s * rb^2 + s * rb^3 + ... + s * rb^(n-1). This simplifies to pb = s * (rb^n - 1)/(rb - 1). Similarly for the amount you would get by depositing to the investment, let's call that pi, except you must also subtract the amount of the broker fee, b. So you want to make deposits when pb>pi, or s*(ri^n-1)/(ri-1) - b > s*(rb^n-1)/(rb-1) Then just solve for n and you're done! Except ... maybe someone who's better at algebra than me could solve that for n, but I don't see how to do it. Further complicating this is that banks normally pay interest monthly, while stocks go up or down every day. If a calculation said to withdraw after 3.9 months, it might really be better to wait for 4.0 months to collect one additional month's interest. But let's see if we can approximate. If the growth rates and the number of periods are relatively small, the compounding of growth should also be relatively small. So an approximate solution would be when the difference between the interest rates, times the amount of each deposit, summed over the number of deposits, is greater than the fee. That is, say the investment pays 10% per month more than your bank account (wildly optimistic but just for example), the broker fee is $10, and the amount of each deposit is $200. Then if you delay making the investment by one month you're losing 10% of $200 = $20. This is more than the broker fee, so you should invest immediately. Okay, suppose more realistically that the investment pays 1% more per month than the bank account. Then the first month you're losing 1% of $200 = $2. The second month you have $400 in the bank, so you're losing $4, total loss for two months = $6. The third month you have $600 in the bank so you lose an additional $6, total loss = $12. Etc. So you should transfer the money to the investment about the third month. Compounding would mean that losses on transferring to the investment are a little higher than this, so you'd want to bias to transferring a little earlier. Or, you could set up a spreadsheet to do the compounding calculations month by month, and then just look down the column for when the investment total minus the bank total is greater than the broker fee. Sorry I'm not giving you a definitive answer, but maybe this helps.\"",
"title": ""
},
{
"docid": "0943e45e3c60536cea418a843e1c6250",
"text": "There are at least a couple of ways you could view this to my mind: Make an Excel spreadsheet and use the IRR function to compute the rate of return you are having based on money being added. Re-invested distributions in a mutual fund aren't really an additional investment as the Net Asset Value of the fund will drop by the amount of the distribution aside from market fluctuation. This is presuming you want a raw percentage that could be tricky to compare to other funds without doing more than a bit of work in a way. Look at what is the fund's returns compared to both the category and the index it is tracking. The tracking error is likely worth noting as some index funds could lag the index by a sizable margin and thus may not be that great. At the same time there may exist cases where an index fund isn't quite measuring up that well. The Small-Growth Indexing Anomaly would be the William Bernstein article from 2001 that has some facts and figures for this that may be useful.",
"title": ""
},
{
"docid": "cbe2602216d25f7f2f97e3625c46ea0b",
"text": "\"(Value of shares+Dividends received)/(Initial investment) would be the typical formula though this is more of a percentage where 1 would indicate that you broke even, assuming no inflation to be factored. No, you don't have to estimate the share price based on revenues as I would question how well did anyone estimate what kind of revenues Facebook, Apple, or Google have had and will have. To estimate the value of shares, I'd likely consider what does my investment strategy use as metrics: Is it discounted cash flow, is it based on earnings, is it something else? There are many ways to determine what a stock \"\"should be worth\"\" that depending on what you want to believe there are more than a few ways one could go.\"",
"title": ""
},
{
"docid": "6263bcb569ac81cf55099b6957a8bc54",
"text": "\"Essentially, your question is \"\"lump sum vs DCA\"\" and your tags reflect that. In the long run, lump sum, say a Jan 2 deposit each year, will beat DCA by about 1/2 the average annual market return. $12,000 will see a 10% return, vs, $1,000/month over the year seeing 6%. What hurts is when the market tanks in the first half of the year and you think DCA would have helped. This is a 'feeling' issue, not a math problem. But. By the time you have $100K invested, the difference of DCA vs lump sum with new money fades, as new deposits are small compared to the funds invested. By then, you need to know your target allocation and deposit to keep that allocation with new money.\"",
"title": ""
}
] | fiqa |
74477f435b7914ca348a9548ee590053 | Pros and cons of using a personal assistant service to manage your personal finances? | [
{
"docid": "9f3741441e2ffe131f5a60b552372369",
"text": "Years ago I hired someone part time (not virtual however) to help me with all sorts of things. Yes it helps free up some time. However particularly with finances, it does take a leap of faith. If you have high value accounts that this person will be dealing with you can always get them bonded. Getting an individual with a clean credit history and no criminal background bonded usually costs < $600 a year (depending on $ risk exposure). I would start out small with tasks that do not directly put that person in control of your money. In my case I didn't have an official business, I worked a normal 9-5 job, but I owned several rental units, and an interest in a bar. My assistant also had a normal 9-5 job and worked 5-10 hours a week for me on various things. Small stuff at first like managing my calendar, reminding me when bills were due, shipping packages, even calling to set up a hair cut. At some point she moved to contacting tenants, meeting with contractors, showing apartments, etc... I paid her a fixed about each week plus expenses. I would pay her extra if I needed her more (say showing an apartment on a Saturday, or meeting a plumber). She would handled all sorts of stuff for me, and I gave her the flexibility when needed to fit things in with her schedule. After about a month I did get her a credit card for expenses. Obviously a virtual assistant would not be able to do some of these things but I think you get the point. Eventually when the trust had been built up I put her on most of my accounts and gave her some fiduciary responsibilities as well. I'm not sure that this level of trust would be possible to get to with a virtual assistant. However, with a virtual assistant you might be able to avoid one really big danger of hiring an assistant.... You see, several years later when I sold off my apartment buildings I no longer needed an assistant, so I married her. Now one good thing about that is I don't have to pay her now. ;)",
"title": ""
},
{
"docid": "e7ecc10268766997672000064e46af68",
"text": "\"Not knowing anything about your situation or what makes it so complex, I would have to agree with the other commenters. If your accountant screws up your business goes under, but at least your personal finances are safe from that and you'll recover (unless all your wealth is tied up in your business). If your virtual assistant uses your personal information to take all your money, ruin your credit, or any number of other things, you're going to spend a loooong time trying to get things \"\"back to normal\"\". If the few hours per month spent managing your finances is starting to add up, I might suggest looking into other ways to automate and manage them. For instance, are all of your bills (or as many as you can) e-bills that can be issued electronically to your bank? Have you set up online bill pay with your bank, so that you can automatically pay all the bills when they arrive? Have you tried using any number of online services (Mint, Thrive, your bank's \"\"virtual wallet/portfolio\"\") to help with budget, expense tracking, etc.? Again, I don't know your exact situation, but hopefully some of these suggestions help. Once I started automating my savings and a lot of my bill paying, it gave me a lot of peace of mind.\"",
"title": ""
},
{
"docid": "886833d12cd46731b76208dad290f407",
"text": "When you want to hire personal assistants, you must be sure that you are hiring in a trusted company or the person you talk to have been proven by a lot of people. You must be wise in choosing one because these people will handle some of your personal things and data.",
"title": ""
}
] | [
{
"docid": "4eb21a693fbd8bfccffd42ad8ca2d72a",
"text": "I use mint.com for tracking my finances. It works on mobile phones, tablets, and in a browser. If you don't mind the initial hassle of putting in the credentials you use to access your account online, you'll find that you're able to build a comprehensive picture of the state of your finances relatively quickly. It does a great job of separating the various types of financial transactions you engage in, and also lets you customize those classifications with tags. It's ad-supported, so there's no out-of-pocket cost to you, and it doesn't preclude you from using the personal finance software you already have on your phone.",
"title": ""
},
{
"docid": "5ed2cb583c94cdfb5b01560cfa611d27",
"text": "So long as you don't hate what you are doing, I'd say the price is somewhere in the neighborhood of $100-200 year of income to be worth the bookkeeping. I'd only say more than that if you have a ridiculously complex tax situation, you have an irrational hatred of filling out a few forms once a year, or if you just have such a stupidly large amount of money that even having a few hundred dollars a year to donate to people in desperate need just doesn't mean anything to you. Or if you are under special income limits and just a few dollars of income would put you in a bad situation (like a loss of medical benefits, etc). The reason is actually quite simple: the taxes aren't really that hard or time consuming. I've handled three self-employment businesses in my life, and unless you are trying to itemize every last dollar of business deductions and expenses, or you really want to scrape out every last cent from minor deductions that require considerable extra paperwork, it's a few extra forms on your taxes. Most of the extra taxes are as a percentage, so it reduces the benefits, but really not by much. You don't have to make it extra complicated if the extra complexity doesn't give you a big payoff in benefit. I would suggest you pick the simplest imaginable possible system for accounting for this, so that you might only spend an extra few hours per year on the books and taxes. Don't keep $10 sheet music receipts if you feel it's a burden to try to itemize expenses, etc. Instead, the decision should be if you (or in this case your wife) would enjoy doing it, and bringing in money can just be nice in it's own way. I'd suggest she keep some out for little extra niceties, earmark some for feel-good charitable giving, and then of course sock away the rest. Don't let extra income be an unnecessary burden that prevents you from getting it in the first place.",
"title": ""
},
{
"docid": "8cb3cc79ade469823657cee0a47b0478",
"text": "I have used TurboTax successfully for a couple of years. In addition to things already mentioned, it has some forums where you can get some simple questions answered (with complex ones it's always better to consult the professional) and it can import some data from your salary provider if you're lucky (some companies are supported, some aren't) - then you save time on filling out W2s, and can allow you to track your donations with sister site ItsDeductible.com, compare data with last year, etc. Not sure how desktop software compares. So far I didn't see any downsides except for, of course, the fact that your information is available online. But in our times most companies offer online access to earnings statements, etc., anyway, and so far the weakest link for the financial information has proven to be retailers, not tax preparers.",
"title": ""
},
{
"docid": "02d85f7e04b21aed3be88ef5151f5718",
"text": "Well the idea of 'good practice' is subjective so obviously there won't be an objectively correct answer. I suspect that whatever article you read was making this recommendation as a budgeting tool to physically isolate your reserve of cash from your spending account(s) as a means to keep spending in check. This is a common idea that I've heard often enough, though I don't think I am alone in believing that it's unnecessary except in the case of a habitual spender who cannot be trusted to stay within a budget. I suppose there is a very small argument to be made about security where if you use a bank account for daily spending and that account is somehow compromised, the short-term damage is limited. In the end, I would argue that if you're in control of spending and budgeting, have a single source of income that is from regular employment, and you use a credit card for most of your daily spending, there's no compelling reason to have more than one bank account. Some people have a checking and savings account simply for the psychological effect of separating their money, some couples have 3-4 accounts for income, personal spending, and savings, other people have separate accounts for business/self-employment funds, and a few people like having many accounts that act as hard limits for spending in different categories. Of course, the other submitted answer is correct in noting that the more accounts that you have, the more you are opening yourself up to accounting issues if funds don't transfer the way you expect them to (assuming you're emptying the accounts often). Some banks are more lenient with this, however, and may offer you the option to freely 'overdraft' by pulling funding from another pre-designated account that you also hold at the same bank.",
"title": ""
},
{
"docid": "eaa2180e94ca419c10d2db37381389b7",
"text": "I'm not directly affiliated with the company (I work for one of the add-on partners) but I can wholeheartedly recommend Xero for both personal and business finances. Their basis is to make accounting simple and clean, without sacrificing any of the power behind having the figures there in the first place.",
"title": ""
},
{
"docid": "2da9c6cb77c6d43459a25ff16f45edfb",
"text": "I'll chime in and say that my wife and I thought this was a really dumb idea, until we tried it. I was keeping track of everything in my checkbook ledger, but having the physical money in the envelopes really does work! We thought it would be more hassle than it's worth, and there were hiccups the first month or two, but in the end we both agree this is what started our movement towards responsible money management and debt reduction. We have the following Categories: Obviously, ymmv, but the point is to take any categories in your budget that are hard to budget for, as they vary from month to month, and just set aside an amount form your paycheck, in cash, for each one of those categories in an envelope. What I've noticed is that by putting the money aside up front, it's MUCH easier to stick to the budget. We'll often shuffle money around in the envelopes if priorities change for a particular month as well, so rather than taking money away from an extra payment on a debt or our planned savings transfer, which would have been our default action pre-envelopes, we can just move $XX from Date Night into Groceries if we have to, hence, planning out how we'll spend our money, budgeting, has gotten a LOT easier since adopting this system.",
"title": ""
},
{
"docid": "d7b4f03d1e0956ca87f51146a917da16",
"text": "I like Quicken for personal use, and they have a small business edition if you don't want to move into QuickBooks.",
"title": ""
},
{
"docid": "d6ac6bef5e8fc21dc420d50a8854bbe2",
"text": "It is absolutely worth it. My wife and I have two of these accounts (different banks). We are required to use our cards 20 times for one bank, and 15 for the other. We have yet to miss the required transactions in a month (over 15 months of use now), and are actually considering getting a third account. Between the two of us, we simply have to use our card on average once a day. Getting gas? Use your debit card. Getting stamps? Use your debit card? Self checkout? Use your debit card twice. Eating out? Use your debit card. If married, split the bill. As soon as we reach the minimum, we stop using the debit cards and switch to credit cards to further boost the rewards. Maybe it's easier for us since we don't have kids and are out a lot, but 12 transactions is really simple to obtain. We receive ~$100 a month from our two accounts, all for doing something we already do.",
"title": ""
},
{
"docid": "90b0557ba3649538e4ef1b972e18f484",
"text": "Mint.com is a fantastic free personal finance software that can assist you with managing your money, planning budgets and setting financial goals. I've found the features to be more than adequate with keeping me informed of my financial situation. The advantage with Mint over Microsoft Money is that all of your debit/credit transactions are automatically imported and categorized (imperfectly but good enough). Mint is capable of handling bank accounts, credit card accounts, loans, and assets (such as cars, houses, etc). The downsides are:",
"title": ""
},
{
"docid": "ce8676528e1a2a117a0179043c2db82d",
"text": "\"Money is a token that you can trade to other people for favors. Debt is a tool that allows you to ask for favors earlier than you might otherwise. What you have currently is: If the very worst were to happen, such as: You would owe $23,000 favors, and your \"\"salary\"\" wouldn't make a difference. What is a responsible amount to put toward a car? This is a tricky question to answer. Statistically speaking the very worst isn't worth your consideration. Only the \"\"very bad\"\", or \"\"kinda annoying\"\" circumstances are worth worrying about. The things that have a >5% chance of actually happening to you. Some of the \"\"very bad\"\" things that could happen (10k+ favors): Some of the \"\"kinda annoying\"\" things that could happen (~5k favors): So now that these issues are identified, we can settle on a time frame. This is very important. Your $30,000 in favors owed are not due in the next year. If your student loans have a typical 10-year payoff, then your risk management strategy only requires that you keep $3,000 in favors (approx) because that's how many are due in the next year. Except you have more than student loans for favors owed to others. You have rent. You eat food. You need to socialize. You need to meet your various needs. Each of these things will cost a certain number of favors in the next year. Add all of them up. Pretending that this data was correct (it obviously isn't) you'd owe $27,500 in favors if you made no money. Up until this point, I've been treating the data as though there's no income. So how does your income work with all of this? Simple, until you've saved 6-12 months of your expenses (not salary) in an FDIC or NCUSIF insured savings account, you have no free income. If you don't have savings to save yourself when bad things happen, you will start having more stress (what if something breaks? how will I survive till my next paycheck? etc.). Stress reduces your life expectancy. If you have no free income, and you need to buy a car, you need to buy the cheapest car that will meet your most basic needs. Consider carpooling. Consider walking or biking or public transit. You listed your salary at \"\"$95k\"\", but that isn't really $95k. It's more like $63k after taxes have been taken out. If you only needed to save ~$35k in favors, and the previous data was accurate (it isn't, do your own math): Per month you owe $2,875 in favors (34,500 / 12) Per month you gain $5,250 in favors (63,000 / 12) You have $7,000 in initial capital--I mean--favors You net $2,375 each month (5,250 - 2,875) To get $34,500 in favors will take you 12 months ( ⌈(34,500 - 7,000) / 2,375⌉ ) After 12 months you will have $2,375 in free income each month. You no longer need to save all of it (Although you may still need to save some of it. Be sure recalculate your expenses regularly to reevaluate if you need additional savings). What you do with your free income is up to you. You've got a safety net in saved earnings to get you through rough times, so if you want to buy a $100,000 sports car, all you have to do is account for it in your savings and expenses in all further calculations as you pay it off. To come up with a reasonable number, decide on how much you want to spend per month on a car. $500 is a nice round number that's less than $2,375. How many years do you want to save for the car? OR How many years do you want to pay off a car loan? 4 is a nice even number. $500 * 12 * 4 = $24,000 Now reduce that number 10% for taxes and fees $24,000 * 0.9 = $21,600 If you're getting a loan, deduct the cost of interest (using 5% as a ballpark here) $21,600 * 0.95 = $20,520 So according to my napkin math you can afford a car that costs ~$20k if you're willing to save/owe $500/month, but only after you've saved enough to be financially secure.\"",
"title": ""
},
{
"docid": "0e6906c71943738fc5f8b7d44652ea27",
"text": "Here are the pros and cons and an analytical framework for making a decision. Pros of walking away: Cons: Here's the framework: compare the value of first and second sections for you [1] http://www.nytimes.com/2009/07/30/business/30serviceside.html?_r=0 [2] http://www.mortgagecalculator.org/",
"title": ""
},
{
"docid": "1ee3149b12c0eb37a8beb933962a0205",
"text": "I recently made the switch to keeping track of my finance (Because I found an app that does almost everything for me). Before, my situation was fairly simple: I was unable to come up with a clear picture of how much I was spending vs saving (altho I had a rough idea). Now I here is what it changes: What I can do now: Is it useful ? Since I don't actually need to save more than I do (I am already saving 60-75% of my income), 1) isn't important. Since I don't have any visibility on my personal situation within a few years, 2) and 3) are not important. Conclusion: Since I don't actually spend any time building theses informations I am happy to use this app. It's kind of fun. If I did'nt had that tool... It would be a waste of time for me. Depends on your situation ? Nb: the app is Moneytree. Works only in Japan.",
"title": ""
},
{
"docid": "43971a28889cd01e188d721a276ae8a9",
"text": "Money Manager Ex PROS: CONS",
"title": ""
},
{
"docid": "9e73b8c9ad91cf3c650c89a14d2f62db",
"text": "Quicken has tools for this, but they have some quirks so i hesitate to actually recommend it on that basis.",
"title": ""
},
{
"docid": "65df9092082134e7c1aca2e76080ff15",
"text": "Disadvantages: Advantages: In my opinion, the convenience and price (free!) of online options make doing your taxes online worth the negligible risks.",
"title": ""
}
] | fiqa |
d5c4a387bc9abb316a50caac45e06578 | Everyone got a raise to them same amount, lost my higher pay than the newer employees | [
{
"docid": "2c1db64900a52c3955c2764c082d6f9f",
"text": "\"Why do you think you are entitled to \"\"fairness\"\"? In this world you get what you get. I am pretty sure your employer is not paying you for how you \"\"feel\"\" either. And by-the-way turning up on time and not leaving early is not exceptional behaviour; it is expected behaviour. Bottom line: do you add more value to your employer's business then the new hires? If so, ask for a raise, if not find a way to add more value and then ask for a raise or keep doing what you're doing and accept what you get.\"",
"title": ""
},
{
"docid": "fd55eafab83e4c8afa36a967e9070fd5",
"text": "This is one effect of rising minimum wages: compression of lower pay tiers. The new employees might have been offered a lower starting rate than the result of your raise, but your employer did not have that option as a matter of law.",
"title": ""
},
{
"docid": "31496e1c14efe5aa8e9b57f8e3bdc216",
"text": "The same thing happened to me when I worked retail during my college years. I agree that it is unfair however, it is what it is. With that being said, there may be several factors that you should consider: the new employees might have more experience or qualifications then you, your work performance based on your manager's perspective, and like in my situation when I worked retail, I started out as a cashier which get paid less than sales associates but when I moved to a sales associate position I still got paid less and when I got my raise I got the same pay a new sales associate would get. I suggest you suck it up and ride it through until you get a real job because in retail, in my opinion, you are expendable, if you don't like their pay they will find someone else.",
"title": ""
},
{
"docid": "aff8e17440380d920b44d463b54b40a0",
"text": "This question is largely opinion based but I wanted to balance out the people jumping on you. There are lots of factors that go into salary/pay, such as what you contribute to the company and whather you go above or beyond whats expected of you. I would say seniority is one factor, or at least there is a case to be made that it is important. If someone has worked 5 years for me, that is five years that I have not had to search, interview, and train a replacement. I am not a business owner but I do employ people and when someone quits its an extremely stressful process. Not having to go through that, again in my opinion, is worth a small bump in pay. I cant comment on if its fair or not. That is opinion. What is fact is that whenever a broad group of people are given a pay raise for arbitrary reasons and other employees arent, its creates discontent, it hurts morale, employees leave, and in severe cases the business becomes crippled. So Im not sure if its fair, but is it a bad idea? Generally. See here and I highly recommend going here for anyone who thinks dramatically raising pay 'because its the right thing to do' is a good idea",
"title": ""
},
{
"docid": "0aa72b91c66ff91b5239a0b79f97e831",
"text": "\"You didn't get laid off or have your hours cut back when the minimum wage was raised? I guess you have much to be grateful for, including a higher hourly rate. An excellent record is its own reward. When you finish your degree you will be grateful for the good habits you have established. You won't ever lose a nights sleep looking back and thinking \"\"I wish I didn't do the right thing.\"\" It's sad that there isn't a more immediate reward for doing more than average, but that's life, doing the right thing over a long period of time does eventually lead to the reward you're looking for. Sometimes those rewards aren't tangible.\"",
"title": ""
}
] | [
{
"docid": "3d9e47dfe276467632aef41fcc905740",
"text": "I'm okay if the union sticks up for those only in the Union. If I get a pay raise because of my union affiliation, you don't deserve the same benefits. For what it's worth, in many other countries they've always sided with the Union. To me this is a a direct attack on the middle class. If it hasn't already eroded enough it's only going to get worse.",
"title": ""
},
{
"docid": "9a7887111d180b192e1dc766ff08c4c0",
"text": "\"The only thing worse than finding out you are paid less than a co-worker is finding out that you are paid more than all of your co-workers. A lot of people who *think* they would prefer an open and transparent pay-scale (as in unions), change their minds, when placed in one. I have worked in and implemented both types, as both an employee and as an owner/manager. There are pluses and minuses to both. - \"\"Transparent\"\" pay-scale is most effective in a high-turnover, aggressively performance-metric-oriented environment where you expect people to be competing for jobs, including their own job, every day. For example, a pool of commissioned sales-agents: the more you sell, the more you make. Winner gets a Cadillac. Runner-up gets a set of steak knives. Loser gets fired, that kind of thing. If you can't meet your numbers, we let other people start poaching your territory/clients and see what they can do. - Where it doesn't work is in a salary-type position where people are expected to have multiple \"\"soft\"\" duties outside of core performance metrics. The reasons are multi-fold: - One immediate effect of implementing performance-based pay for salary-type employees is that people who are in the office for 8 hours a day, five days a week, immediate start devoting their time and energy towards getting another notch up on the pay-scale, even at the expense of their co-workers, or the company. It intrinsically incentivizes \"\"gaming the system\"\", finding ways to attach your name to easy metrics, and to remove yourself from the most difficult problems. The people who are best at hitting metrics are often not even close to the MVPs. - If instead you take a \"\"soft metrics\"\" or subjective/holistic approach to evaluation, then you get a culture of brown-nosing and office-politics. People start sabotaging the \"\"boss's favorite\"\" and pursuing approval and credit, rather than performance. Instead of fostering a team-oriented, problem-solving approach, it fosters a counter-productive buck-passing, credit-grabbing, and blame-avoidance approach. Note that both of the above intrinsically incentivize risk-avoidance. If you get paid for the number of projects that have your name on them, you find some way to get your name attached to every project, and then move on to the next one, whether the last one was done or not. If you get based on how \"\"successful\"\" the projects bearing your name are, then you avoid anything challenging and make sure only to be attached to the easy ones with the best co-workers. And so on. - Alternately, let's say we keep the same, generic, salary-oriented pay-structure, we just make everyone in a certain \"\"tier\"\" get equal salary, that everyone knows. That sucks all the life out of everyone's sails so fast it will make your head spin: you cannot get a raise for doing a better job, you get paid the same raise as your worst co-worker, every year, for as long as you work here. We will never cut your pay, all you have to do is not be the canary in the coalmine-- so long as you can identify the worst performer in your group, and so long as it's not you, your job is safe. What time do you have to arrive? 5 minutes earlier than the latest-arriving person. How early can you leave? 5 minutes after the earliest one to check out. How much work do you have to get done? Only as much as anyone else is doing. What will you get for being the hardest-working, earliest-to-arrive, latest-to-leave? The same as the worst performer gets: you'll be splitting your raise with him, since we don't credit individuals here, just job-titles. Most jobs that can be easily automated, are automated. If you need a human employee to do it, it's usually because it involves a nontrivial amount of \"\"soft\"\" skills and fuzzy-logic type thinking and behavior. A machine programmed purely to make as many widgets per hour as possible, and motivated to so with human-style skills, ingenuity, and incentives, will tear down the whole factory and dismantle all its co-workers and ignore all quality-controls in order to keep producing widgets. You can't reduce human beings to input-process-output flowcharts (or rather you can, but they will invariably find unintended ways to outsmart your design criteria, with unintended consequences). The reason you need a person instead of an automated process is because you need a whole host hard-to-define, soft/fuzzy/flexible critical-thinking type skills. **Everyone's job seems easier to the people who don't have to do it, and there is a tremendous hidden danger to de-valuing personal desire to do a subjectively \"\"good job\"\" by quantifying/genericizing the value of their contribution.** Personnel management is very difficult to reduce to an engineering problem. You usually need good managers who can identify and motivate good employees, who will feel lucky to have the job and the salary they have, and who will come in every day trying to earn it. Posting everyone's pay on a bulletin-board negates all those \"\"soft\"\" skills, by putting a quantified, black-and-white, relative value on everyone's contribution. Even in a very large organization, the \"\"marketplace\"\" of employees is rarely large enough, and the quality of real-time metrics is almost never good enough to \"\"digitize\"\" the bell-curve of employee performance. You end up making it a square-wave that demotivates all but the most extreme outliers.\"",
"title": ""
},
{
"docid": "2affc10785332c9954c413bcfa677e8f",
"text": "\"To add to MrChrister's answer: Canada also has a Consumer Price Index (CPI) used to measure inflation that is distinct and separate from that maintained by the United States. There are differences in inflation between the U.S. and Canada because our currencies are different, and there may be different items in the \"\"basket\"\" of goods that constitutes the index. You can find current information on the Canadian CPI at Statistics Canada, here: Latest release from the Consumer Price Index. Also, the Bank of Canada – our central bank – maintains a free online Inflation Calculator. The BoC's inflation calculator is handy because you can enter a dollar amount for a past date and it will figure out what that would be in today's dollars. For instance, $100 in 1970 dollars had the same purchasing power (under the CPI) as $561.76 in 2009 dollars! And you're right – if you get a salary increase that is less than the rate of inflation, then in theory you have lost purchasing power. So, anybody really looking for a raise ought to make an effort to get more than the increase in CPI. Of course, some employers are counting on you not knowing that, because any increase that's less than CPI is effectively a salary decrease; which could mean more profit for them, if they are able to increase their prices / revenues at inflation or better. Finally, consider that salary & wage increases also contribute to inflation! Perhaps you've heard of the wage/price inflation spiral. If you haven't, there's more on that here and here.\"",
"title": ""
},
{
"docid": "9452c0d753736f741583048c7893c6fd",
"text": "Keep in mind that unless you have a contract that says you get a certain amount of raise every year, the employer is not required to give you any raise. The quality of a raise is too subjective for anyone to tell you how to judge it. You either get a raise you can live with, it makes you content/happy, and you continue working there, or you get a raise that does not satisfy you, and you jump ship to get more money. Some (most?) employers know that raises can be the tipping point for employees deciding to leave. If you consistently receive raises greater than inflation rate, the message is that the employer values you. If the opposite, they value you enough to continue your employment, but are willing to replace you if you decide to leave. Key thing here is there are three ways of getting increased pay with your current employer. Cost of living or annual raise is the one that we are discussing. Merit based raises are a second way. If you think you deserve a raise, due to loyal consistent contribution, or contributing above your duty, or for whatever reason, then ask for a raise. The third way is to be promoted or transferred to a higher paying position. Often times, you should also make your case to your supervisor why you should have the new position, similar to asking for a merit raise.",
"title": ""
},
{
"docid": "4d031a7f86ad55631c6d625512021e17",
"text": "It would make sense to refuse a raise when it pushes your effective marginal 'tax' (including reduced benefits) above 100%. The working poor (family of 4, 20K-40K in the US) often face marginal rates above 100% when you consider the phase out of various government benefits (EITC, insurance, housing,etc.) You can see the research here and here.",
"title": ""
},
{
"docid": "0c8901a7fde21e478a733ba05babf551",
"text": "\"So you are saying the game is rigged. You said that the average raise has to be 4% and that is pre-decided. So that means the game is rigged. Also you discussed good and bad managers. Well over 90% of managers I have had were horrible. The good ones were great but they were few and far between. Also you mentioned about how money is not everything. The reason money is not everything is because the employees know they are not gonna get any more money. So that is why they settle for \"\"casual friday\"\" and other bullshit perks.\"",
"title": ""
},
{
"docid": "f45d60687a920869bffe60def6a09e7d",
"text": "The prices would only rise proportionally if labor was the only cost at play and everyone made minimum wage. If you look at major expenses such as rent, gas, utilities and food there is literally no reason to conclude their prices would change proportionally to minimum wage.",
"title": ""
},
{
"docid": "7117f06ab3c85be892ecb72ac468a340",
"text": "I work as a state employee and I can look at my coworkers' salaries and their title online. At first my coworkers were shocked that I would do such a thing, but they quickly realized it was of benefit to them when I told them that from my analysis, no one at my department ever gets raises. Prior to this, they were led to believe that there actually were opportunities for advancement here. Knowing typical salaries can also help when looking at going into a new industry in which you are unfamiliar, otherwise, you have no idea if a job offer you get is in line with others' compensation. So yes, I believe that knowing others' salaries can be helpful to the average employee and keeping it secret is par for the course because it's detrimental to the company.",
"title": ""
},
{
"docid": "d6d82a258299f90b61d43321099e9e57",
"text": "\"Problem is, my CEO told me I would \"\"get a raise every 12 days\"\" \"\"dollar here, dollar there\"\". It's been 5 months of excellent work on my part, no bonus, no raise, nothing. I mean, I'm upset, but I wish I at least got recognized for my work. If it weren't for me doing something that got the attention of his wife (who also works here), he wouldn't even recognize me.\"",
"title": ""
},
{
"docid": "dea1a2c3d9dde75823e01547e7a286d1",
"text": "\"TLDR: You will probably need to move to a different employer to get the raise you want/need/deserve. Some employers, in the US, punish longevity through a number of practices. My wife worked as a nurse for about 20 years. During that time she had many employers, leveraging raises with job changes. She quit nursing about 6 years ago and was being paid $38/hour at the time. She had a friend that worked in the same system for 18 years. They had the same position in the same hospital that friend's current rate of pay: $26/hour. You probably don't want to be that person. Given your Stack Overflow participation, I would assume you are some type of web developer. I would recommend updating your resume, and moving for a 20% increase or more. You'll get it as it is a great time to be a web developer. Spending on IT tends to go in cycles, and right now budgets are very healthy for hiring new talent. While your current company might not have enough money in the budget to give you a raise, they would not hesitate hiring someone with your skills at 95K if they had an opening. Its common, but frustrating to all that are involved except the bean counters that looks at people like us as commodities. Think about this: both sides of the table agree that you deserve a 5K raise. But lets say next year only 3k is in the budget. So you are out the 5k you should have been given this year, plus the 2k that you won't get, plus whatever raise was fair for you next year. That is a lot of money! Time to go! Don't bother on holding onto any illusions of a counter offer by your current employer. There will be too much resentment. Shake the dust off your feet and move on. Edit: Some naysayers will cite short work histories as problems for future employment. It could happen in a small number of shops, but short work histories are common in technology that recruiters rarely bat an eye. If they do, as with any objection, it is up to you to sell yourself. In Cracking the Code Interview the author cites that no one is really expecting you to stay beyond 5 years. Something like this would work just fine: \"\"I left Acme because there were indications of poor financial health. Given the hot market at the time I was able to find a new position without the worry of pending layoffs.\"\" If you are a contractor six month assignments are the norm. Also many technology resumes have overlapping assignments. Its what happens when someone is in demand.\"",
"title": ""
},
{
"docid": "5876fe659421be016297957a9782b95a",
"text": "So how do we get the money from the people that did not earn it, to the people that did earn it without the government redistributing it? I think you may be thinking that I am saying everyone should always be equal when I am saying that we need to have a more proportional income distribution which, if done correctly, would make things way more equal than they are now.",
"title": ""
},
{
"docid": "c0331cbe108667ea6af23e241063914c",
"text": "...and why is that? Almost every job out there has competition. It may take some time, but if you are really unhappy with your salary or work situation, you can find a job somewhere else. I'm in the IT industry and that's pretty much the only way I've been able to get a raise higher than 1%.",
"title": ""
},
{
"docid": "215dc7dad7674e2dfac95e80a8d3df64",
"text": "\"Many in management seem to live in an alternate reality from those who work for a living. When IBM shunted some techs into another company they put them on probation for a year (even though they were high performers - some with 25+ years at IBM = no job security) and cut their pay 25%. The next time they went to move workers the first question was \"\"how much is the pay cut this time\"\". Management's reply, \"\"No pay cut because we found when we did it before it negatively affected morale.\"\" I thought: \"\"No kidding. They had to actually cut people's pay 25% to figure that out? What planet DO they live on?\"\"\"",
"title": ""
},
{
"docid": "c4f182954cbea0e8f5df43839a121238",
"text": "I'm trying to get the numbers to work. I built a quick spreadsheet that allocated the lost time as stated against the overall pay increase, assuming 1.5x for more than 40 hours. I can't find a reasonable number of hours worked where a 9% cut in hours outweighs the near 20% increase in wages.",
"title": ""
},
{
"docid": "a02d314be40e2de7566d5585bb79ddf7",
"text": "\"And that is my point: without specific dollar amounts...this is USELESS information. The problem with this crap information is that some crappy operation will find a reason to pay themselves more for being a \"\"good boss\"\" thinking that will make up for any raises. I'd take a better boss over a 5-cent an hour raise (and yes, I worked at McDonalds when raises were 0-5-10 cents an hour...and yeah, I would have liked a better boss for 5 cents). However, for an annual job that pays $500/hr I'll gladly work in horrid conditions with a horrible boss doing awful things.\"",
"title": ""
}
] | fiqa |
fe3b9d9366d4c2d65bb80fdbbdbcfa0c | Are credit histories/scores international? | [
{
"docid": "648f6347d16224f43171a32628d4a67e",
"text": "Currently the credit history are not International but are local. Many countries don't have a concept of credit history yet. Having said that, if you are moving to US, depending on your history in your country, you can ask the same bank to provide you with a card and then start building history. For example in India I had a card with Citi Bank and when I moved to US for a short period, I was given a card based on my India Card, with equivalent credit in USD. If you are moving often internationally, it would make sense to Bank with a leading bank that provide services in geographies of your interest [Citi, HSBC, etc] and then in a new country approach these institutions to get you some starting credit for you to build a history.",
"title": ""
},
{
"docid": "762f38a3a0d17031245925ce5ae08704",
"text": "\"It's not just that credit history is local; it's that it's a private business run for profit. The \"\"big three\"\" credit bureaus in the US are Experian, Equifax and Transunion. They collect information on debt usage and abuse from various companies in the US, and charge a fee to provide that information (and their judgement of you) to companies interested in offering you further credit. But there's nothing stopping a company from collecting international credit histories, or specialized credit histories either (for instance, there's a company called ChexSystems which focuses on retail purchase financing (mostly auto) and checking account abuse, while ignoring other types of lending). That being said, I don't know of any companies which currently collect international credit histories. Perhaps in Europe, with more nations in close geographic proximity, there would be, but not in North America.\"",
"title": ""
},
{
"docid": "9aca3ed9a7f0fbd96ff27dc29906f179",
"text": "Credit history is local, so when you move to the US you start with the blank slate. Credit history length is a huge factor, so in the first year expect that nobody would trust you and you may be refused credit or asked for deposits. I was asked for deposits at cell phone company and refused for store cards couple of times. My advice - get a secured credit card (that means you put certain sum of money as a deposit in the bank and you get credit equal to that sum of money) and if you have something like a car loan that helps too (of course, you shouldn't buy a car just for that ;) but if you're buying anyway, just know it's not only hurting but also helping when you pay). Once you have a year or two of the history and you've kept with all the payments, you credit score would be OK and everybody would be happy to work with you. In 4-5 years you can have excellent credit record if you pay on time and don't do anything bad. If you are working it the US, a lot of help at first would be to take a letter from your company on an official letterhead saying that you are employed by this and that company and are getting salary of this and that. That can serve as an assurance for some merchants that otherwise would be reluctant to work with you because of the absence of credit history. If you have any assets overseas, especially if they are held in a branch of international bank in US dollars, that could help too. In general, don't count too much on credit for first 1-2 years (though you'd probably could get a car loan, for example, but rates would be exorbitant - easily 10 percentage points higher than with good credit), but it will get better soon.",
"title": ""
},
{
"docid": "b8f00666597667cba3f609b5c26ee232",
"text": "Some countries in European Union are starting to implement credit history sharing, for example now history from polish bureau BIK and German Schufa are mutually available. Similar agreements are planned between polish BIK and bureaus in the Netherlands and United Kingdom.",
"title": ""
}
] | [
{
"docid": "5bf8916a07958f21f05d6bdb91a0000f",
"text": "\"First, a note of my personal experience: up until a year ago, my credit lines were composed exclusively of credit cards with perfect payment histories, and my credit score is fine. If you mean that credit cards have no impact on a person's credit score until they miss a payment, that is certainly not correct. FICO's website identifies \"\"payment history\"\" as 35% of your FICO score: The first thing any lender wants to know is whether you’ve paid past credit accounts on time. This is one of the most important factors in a FICO® Score. ... Credit payment history on many types of accounts Account types considered for payment history include: ... Details on late or missed payments (\"\"delinquencies\"\") and public record and collection items FICO® Scores consider: How many accounts show no late payment A good track record on most of your credit accounts will increase your FICO® Scores. Clearly, from the last item alone, we see that credit lines (a category which includes credit cards) with no late payments is a factor in computing your FICO score, and certainly other credit bureaus behave similarly. Possibly the banker was trying to explain some other point, like \"\"If you're careful not to spend more on your card than you have in the bank, you can functionally treat your credit card as a debit line,\"\" but did so in a confusing way.\"",
"title": ""
},
{
"docid": "3b64b7488d616ae026c37b3cf64919b2",
"text": "In addition to the already good answers: I am assuming you are playing a long game and have no specific need for a high credit score in the next couple of years. This list is just good practice that will raise you score.",
"title": ""
},
{
"docid": "c1f1bd2ee9a6d2caf9bfec545571ff8c",
"text": "I came to US as an international student several years ago, and I have also experienced the same situation like most of the international students in finding ways to build credit history. Below I list out some possible approaches you may want to consider: I. Get a student job at campus (recommended) I think the best way is to get a student job in university, say a teaching assistant or student helper. In this case, you can be provided with a social security number and start to build your own credit history. II. Get credit card You can also consider to apply for a credit card. There are indeed some financial institutions that can provide credit cards for international students with no or limited credit scores requirement, say Discover and Bank of America. However, it is relatively hard to get approved, simply because hey may put more restriction in other aspects. For example, you may be required to keep sufficient bank balance above several thousand dollars during a period of time, or you should prove that you have relatives with citizenship in US who can provide your financial aid if needed. III. Apply for a loan (recommended) Getting a loan product is another alternative to get out of this difficult situation, but most of people don’t realize that. There are some FinTech start-ups in United States that specifically focus on international students’ loan financing. One representative example is Westbon (Westbon ), an online lending company that specializes in providing car loan for international students with no SSN or credit history. I once used their loan product to finance a Honda Accord, and Westbon reported my loan transaction records to US credit bureau during my repayment process. Later when I officially got my SSN number, I found my credit history has been automatically synchronized and I don’t have to start from all over again. It never be an easy journey for international students to build credit history in United States. What approach you should make really depends on you own situation. I hope the information above can be useful and good luck for your credit journey!",
"title": ""
},
{
"docid": "fc8923bef2dbee376d2121e54cd03757",
"text": "Yes, they do. Generally though you'll only see it on one or two reports. With regards to the impact on your credit score. Hard inquiries only stay on your credit for 2 years, after that they fall off. For most credit scores (specifically FICO) they only have an impact for 1 year after their date. If you have a few in the same 30 day period FICO will lump these into 1 pull to allow you to shop around for credit/loans. They also have a low to medium impact on your score.",
"title": ""
},
{
"docid": "71c5d6bcf38f61d6e21be33a3a5e1dd3",
"text": "Sorry. As far as I know, a person's SS is the only way to establish credit. This is the first thing they ask whenever you apply for any service in the US.",
"title": ""
},
{
"docid": "07a8e5710dceceec0f5f187e0a021a6f",
"text": "The negative effects of multiple hard inquiries in a short span of time don't stack, they're treated as a single inquiry (and inquiries aren't *that* bad anyway, the only ding you by a few points). The bigger problem here is the **other** reason your bank gave you - Too many overdrawn accounts. If you don't believe you currently have any overdrawn accounts, you need to pull your credit report *now* and make sure it's accurate. Maybe there's a mistake on your credit, maybe you're a victim of identity theft. That said, 1.5 years isn't really very long in credit terms for managing to keep your record clean, so maybe your credit just needs a few more years to heal. But *definitely* pull your credit report to rule out the worst possibilities.",
"title": ""
},
{
"docid": "3a0c5da5d45000dd5a41105eb72828b9",
"text": "The reason you would want to report to all three is because lenders don't usually query all three. Thus, it may be that your negative mark will be missed by a future lender because that lender didn't query the agency you chose to report to. Generally, it is cheaper to report to more agencies than to query more agencies, and since those reporting are also those querying, it is in their best interest to continue reporting to all agencies, and expecting others to do the same. Each agency calculates the score independently based on the information reported to that agency. Thus only reporting a negative item to Experian will mean that TransUnion and Equifax scores for the same person will be higher.",
"title": ""
},
{
"docid": "6520e3b663c9d07ae98d430a59c8934e",
"text": "I talked to the director of equity research at an international us based bank. He said that with mifid ii would force them to unbundle research fees in the US. It would be very difficult to have a different fee structure only for UK clients.",
"title": ""
},
{
"docid": "b72477e5c6869fd1514ba798f7f597b5",
"text": "\"Going off hearsay here. I believe your question is. \"\"Does not having a credit card lower your credit score\"\" If that is the question then in the UK at least the answer appears to be yes. Having a credit card makes you less of a risk because you have proven that you can handle a little bit of debt and pay it back. I have a really tiny credit history. Never had a credit card and the only people who will lend to me are my own bank because they can actually see my income / expenditure. When I have queried my bank and at stores offering credit they have said that no credit history isn't far off a bad credit record. Simply having a credit card and doing the odd transactions show's lenders you are at least semi-responsible and is seen as a positive. Not having a credit card and not having much else for that matter makes you an unknown and an unknown is a risk in the eyes of lenders.\"",
"title": ""
},
{
"docid": "99cc24666a7edbd24d598e9a9a0bfd1e",
"text": "I never received any bad treatment as a foreigner. I have dinner with my landlord once a month, and go to the bar with the guy that sold me the plan. Why the fuck would you take out a loan in a foreign country? If you need to so badly, then you obviously don't have the collateral to do so and that's why they are turning you away. Homogenous countries are naturally xenophobic, get over it.",
"title": ""
},
{
"docid": "872d37b659b196edc2b87bc5f87f3ac7",
"text": "It won't hurt your credit rating. I wouldn't worry about it. The company can certainly pursue debt collections across borders but unless its a massive sum.. they will write it off. Now.. what the right thing to do is to take care of it... 1. for karma's sake and 2. so you don't make a bad name for foreigners.",
"title": ""
},
{
"docid": "afb354dbf0db4b576653e9d344a89438",
"text": "Assuming you are asking about a credit score in the United States, the following applies. To find out your FICO score, navigate to AnnualCreditReport, the official site to help consumers receive their credit report from each of the three organizations providing these scores - Equifax, Experian, and TransUnion. You are - in many states - entitled to a free copy of your credit report from each of these organizations annually. This copy of your credit report will not contain your credit score from that organization. It will, however, contain information that goes into your credit score - the lines of credits on file, any delinquencies reported, etc. If you decide you would like to pay for your credit score from each bureau, you will have the option to receive this information while getting your credit report, but you will have to pay a nominal fee for it. Remember that each of the 3 bureaus gives you a different score. Averaging your 3 scores should give you a good idea of your FICO score. Note that your report is far more important than your score - once you know that, you know if you're in a good place or not. These other questions are so close that they might even be considered duplicates, and provide other suggestions for how to check your score. As a warning, don't trust the many ads out there saying you can get your score for free. Only AnnualCreditReport is considered a safe place for entering the very personal information required to get a score. The FTC backs this up.",
"title": ""
},
{
"docid": "160c33cef70d54dbee73af39f0c42327",
"text": "No. I have several that I haven't used in a year or so (legacy of the time when they gave you money to sign up :-)), and credit rating's something over 800 last I checked.",
"title": ""
},
{
"docid": "11b39e366f3d2845e53b28c60886fc9e",
"text": "\"This question has the [united kingdom] tag, so the information about USA or other law and procedures is probably only of tangential use. Except for understanding that no, this is not something to ignore. It may well indicate someone trying to use your id fraudulently, or some other sort of data-processing foul-up that may adversely impact your credit rating. The first thing I would do is phone the credit card company that sent the letter to inform them that I did not make his application, and ask firmly but politely to speak to their fraud team. I would hope that they would be helpful. It's in their interests as well as yours. (Added later) By the way, do not trust anything written on the letter. It may be a fake letter trying to lure or panic you into some other sort of scam, such as closing your \"\"compromised\"\" bank account and transferring the money in it to the \"\"fraud team\"\" for \"\"safety\"\". (Yes, it sounds stupid, but con-men are experts at what they do, and even finance industry professionals have fallen victim to such scams) So find a telephone number for that credit card company independently, for example Google, and then call that number. If it's the wrong department they'll be able to transfer you internally. If the card company is unhelpful, you have certain legal rights that do not cost much if anything. This credit company is obliged to tell you as an absolute minimum, which credit reference agencies they used when deciding to decline \"\"your\"\" application. Yes, you did not make it, but it was in your name and affected your credit rating. There are three main credit rating agencies, and whether or not the bank used them, I would spend the statutory £2 fee (if necessary) with each of them to obtain your statutory credit report, which basically is all data that they hold about you. They are obliged to correct anything which is inaccurate, and you have an absolute right to attach a note to your file explaining, for example, that you allege entries x,y, and z were fraudulently caused by an unknown third party trying to steal your ID. (They may be factually correct, e.g. \"\"Credit search on \"\", so it's possible that you cannot have them removed, and it may not be in your interests to have them removed, but you certainly want them flagged as unauthorized). If you think the fraudster may be known to you, you can also use the Data Protection Act on the company which write to you, requiring them to send you a copy of all data allegedly concerning yourself which it holds. AFAIR this costs £10. In particular you will require sight of the application and signature, if it was made on paper, and the IP address details, if it was made electronically, as well as all the data content and subsequent communications. You may recognise the handwriting, but even if not, you then have documentary evidence that it is not yours. As for the IP address, you can deduce the internet service provider and then use the Data Protection act on them. They may decline to give any details if the fraudster used his own credentials, in which case again you have documentary evidence that it was not you ... and something to give the police and bank fraud investigators if they get interested. I suspect they won't be very interested, if all you uncover is fraudulent applications that were declined. However, you may uncover a successful fraud, i.e. a live card in your name being used by a criminal, or a store or phone credit agreement. In which case obviously get in touch with that company a.s.a.p. to get it shut down and to get the authorities involved in dealing with the crime. In general, write down everything you are told, including phone contact names, and keep it. Confirm anything that you have agreed in writing, and keep copies of the letters you write and of course, the replies you receive. You shouldn't need any lawyer. The UK credit law puts the onus very much on the credit card company to prove that you owe it money, and if a random stranger has stolen your id, it won't be able to do that. In fact, it's most unlikely that it will even try, unless you have a criminal record or a record of financial delinquency. But it may be an awful lot of aggravation for years to come, if somebody has successfully stolen your ID. So even if the first lot of credit reference agency print-outs look \"\"clean\"\", check again in about six weeks time and yet again in maybe 3 months. Finally there is a scheme that you can join if you have been a victim of ID theft. I've forgotten its name but you will probably be told about it. Baically, your credit reference files will be tagged at your request with a requirement for extra precautions to be taken. This should not affect your credit rating but might make obtaining credit more hassle (for example, requests for additional ID before your account is opened after the approval process). Oh, and post a letter to yourself pdq. It's not unknown for fraudsters to persuade the Post Office to redirect all your mail to their address!\"",
"title": ""
},
{
"docid": "9c96a10c6eee402bcb40dbc20e9facc5",
"text": "Unless stated otherwise, these terms apply to all bonds. The par value or face value of a bond refers to the value of the bond when it's redeemed at maturity. A bond with a par value of $10,000 simply means that if you purchase the bond and hold it until the maturity date specified in the contract, you receive $10,000. The purchase price, however, is exactly that: it's what you paid for the bond. Bonds may sell below, at, or above par. Continuing the example from above, if you paid $9,800 for a bought a bond with a $10,000 par value, you bought the bond below par. A bond selling below par is said to be selling at a discount. For bonds selling above bar, they're selling at a premium. If the purchase price and the par value are the same, the bond is selling at par. These terms apply to callable bonds only, which are bond contracts that allow the issuer of the bond (in the case of municipal bonds, the institution or agency who created the contract) to buy back from bond holders at a given date (the call date) and at a given price (the call price) before the bond reaches maturity and pays the holder the full par value. Yes, the coupon rate is essentially the interest paid. It's usually represented as a percent of the par value, so if the $10,000 in the example above had a 5% coupon rate, this means that it paid out 0.05 * 10,000 = $500 each year. Usually, this payment is made as two semi-annual payments of $250. Some bonds are zero-coupon bonds, which means exactly what you would think; they don't make any coupon payments. U.S. Treasury Bills are one example of a zero-coupon bond. All of these factors are linked, because the coupon rate, callable provisions, and par value, along with the overall economic environment, can affect the purchase price of a bond.",
"title": ""
}
] | fiqa |
3f808afebf338cf23d83fe8756e14b89 | devastated with our retirement money that we have left | [
{
"docid": "df4eb1f3883678b9cb8397aa325b41e2",
"text": "\"I'm going to discuss this, in general, as specific investment advice isn't allowed here. What type of account is the $60K in now? I mean - Is it in a 401(k), IRA or regular account/CD/money market? You are still working? Does your company offer any kind of matched 401(k)? If so, take advantage of that right up the level they'll match. If not, are you currently depositing to pretax IRAs? You can't just deposit that $60K into an IRA if it isn't already, but you can put $11k/yr ($5 for you, $6K for hubby if you make $11K or more this year.) Now, disclaimer, I am anti-annuity. Like many who are pro or con on issues, this is my nature. The one type of annuity I actually like is the Immediate Annuity. The link is not for an end company, it shows quotes from many and is meant as an example. Today, a 65 yr old man can get $600/mo with a $100K purchase. This is 7.2%, in an economy in which rates are sub 3%. You give up principal in exchange for this higher annual return. This is a viable solution for the just-retired person whose money will run out when looking at a 4-5% withdrawal but 1% CD rate. In general, these products are no more complex that what I just described, unlike annuities sold to younger fold which combine high fees with returns that are so complex to describe that most agents can't keep their story straight. Aside from the immediate flavor, all other annuities are partial sold (there's a quote among finance folk - \"\"annuities are sold, not bought\"\") based on their tax deferral features. I don't suspect you are in a tax bracket where that feature has any value to you. At 48/54, with at least 10 years ahead of you, I'd research 'diversification' and 'asset allocation'. Even $60K is enough to proper invest these funds until you retire and then decide what's right for you. Beginners' Guide to Asset Allocation, Diversification, and Rebalancing is an interesting introduction, and it's written by the SEC, so your tax dollars paid for it. Some months ago, I wrote Diversifying to Reduce Risk, which falls short of a complete discussion of asset allocation, but it does illustrate the power of being in a stock/bond mix. The ups and downs were reduced significantly compared to the all stock portfolio. (for follow up or to help others reply to you, a bit more detail on the current investments, and how you are devastated, eg was there a huge loss from what you had a few years ago?) Edit - The original poster hasn't returned. Posted the question and left. It's unfortunate as this was someone who would benefit from the dialog, and the answers here can help others in a similar position, but I feel more discussion is in order for the OP. Last, I caught a downvote on my reply today. I take no offense, but curious which part of my answer the DVer disagreed with.\"",
"title": ""
},
{
"docid": "0f87277f1ece0ff496c692790105c99d",
"text": "\"It sounds like the kinds of planners you're talking to might be a poor fit, because they are essentially salespersons selling investments for a commission. Some thoughts on finding a financial planner The good kind of financial planner is going to be able to do a comprehensive plan - look at your whole life, goals, and non-investment issues such as insurance. You should expect to get a document with a Monte Carlo simulation showing your odds of success if you stick to the plan; for investments, you should expect to see a recommended asset allocation and an emphasis on low-cost no-commission (commission is \"\"load\"\") funds. See some of the other questions from past posts, for example What exactly can a financial advisor do for me, and is it worth the money? A good place to start for a planner might be http://napfa.org ; there's also a franchise of planners providing hourly advice called the Garrett Planning Network, I helped my mom hire someone from them and she was very happy, though I do think your results would depend mostly on the individual rather than the franchise. Anyway see http://www.garrettplanningnetwork.com/map.html , they do require planners to be fee-only and working on their CFP credential. You should really look for the Certified Financial Planner (CFP) credential. There are a lot of credentials out there, but many of them mean very little, and others might be hard to get but not mean the right thing. Some other meaningful ones include Chartered Financial Analyst (CFA) which would be a solid investment expert, though not necessarily someone knowledgeable in financial planning generally; and IRS Enrolled Agent, which means someone who knows a lot about taxes. A CPA (accountant) would also be pretty meaningful. A law degree (and estate law know-how) is very relevant to many planning situations, too. Some not-very-meaningful certifications include Certified Mutual Fund Specialist (which isn't bogus, but it's much easier to get than CFP or CFA); Registered Investment Adviser (RIA) which mostly means the person is supposed to understand securities fraud laws, but doesn't mean they know a lot about financial planning. There are some pretty bogus certifications out there, many have \"\"retirement\"\" or \"\"senior\"\" in the name. A good question for any planner is \"\"Are you a fiduciary?\"\" which means are they legally required to act in your interests and not their own. Most sales-oriented advisors are not fiduciaries; they wouldn't charge you a big sales commission if they were, and they are not \"\"on your side\"\" legally speaking. It's a good idea to check with your state regulators or the SEC to confirm that your advisor is registered and ask if they have had any complaints. (Small advisors usually register with the state and larger ones with the federal SEC). If they are registered, they may still be a salesperson who isn't acting in your interests, but at least they are following the law. You can also see if they've been in trouble in the past. When looking for a planner, one firm I found had a professional looking web site and didn't seem sketchy at all, but the state said they were not properly registered and not in compliance. Other ideas A good book is: http://www.amazon.com/Smart-Simple-Financial-Strategies-People/dp/0743269942 it's very approachable and you'd feel more confident talking to someone maybe with more background information. For companies to work with, stick to the ones that are very consumer-friendly and sell no-load funds. Vanguard is probably the one you'll hear about most. But T. Rowe Price, Fidelity, USAA are some other good names. Fidelity is a bit of a mixture, with some cheap consumer-friendly investments and other products that are less so. Avoid companies that are all about charging commission: pretty much anyone selling an annuity is probably bad news. Annuities have some valid uses but mostly they are a bad deal. Not knowing your specific situation in any detail, it's very likely that 60k is not nearly enough, and that making the right investment choices will make only a small difference. You could invest poorly and maybe end up with 50K when you retire, or invest well and maybe end up with 80-90k. But your goal is probably more like a million dollars, or more, and most of that will come from future savings. This is what a planner can help you figure out in detail. It's virtually certain that any planner who is for real, and not a ripoff salesperson, will talk a lot about how much you need to save and so forth, not just about choosing investments. Don't be afraid to pay for a planner. It's well worth it to pay someone a thousand dollars for a really thorough, fiduciary plan with your interests foremost. The \"\"free\"\" planners who get a commission are going to get a whole lot more than a thousand dollars out of you, even though you won't write a check directly. Be sure to convert those mutual fund expense ratios and sales commissions into actual dollar amounts! To summarize: find someone you're paying, not someone getting a commission; look for that CFP credential showing they passed a demanding exam; maybe read a quick and easy book like the one I mentioned just so you know what the advisor is talking about; and don't rush into anything! And btw, I think you ought to be fine with a solid plan. You and your husband have time remaining to work with. Good luck.\"",
"title": ""
},
{
"docid": "6d66e0f274114c436b814fbccf05830c",
"text": "I'll be blunt.",
"title": ""
},
{
"docid": "ee9dd9059baeca33306de0ce321cb4f0",
"text": "When you say: I am 48 and my husband is 54. We have approx. 60,000.00 left in our retirement accounts. We want to move our money into something so our money will grow. We've been looking at annunities. We've talked to 4 different advisors about what is best for us. Bad mistake, I am so overwhelmed with the differences they all have til I can't even think straight anymore. @Havoc P is correct: ...It's very likely that 60k is not nearly enough, and that making the right investment choices will make only a small difference. You could invest poorly and maybe end up with 50K when you retire, or invest well and maybe end up with 80-90k. But your goal is probably more like a million dollars, or more, and most of that will come from future savings. This is what a planner can help you figure out in detail. TL; DR Here is my advice:",
"title": ""
},
{
"docid": "def7992252bc336497613522b12cab31",
"text": "The answers you've received already are very good. I truly sympathize with your situation. In general, it makes sense to try to build off of existing relationships. Here are a few ideas: I don't know if you work for a small or large company, or local/state government. But if there is any kind of retirement planning through your workplace, make sure to investigate that. Those people are usually already paid something for their services by your employer, so they should have less of an interest in making money off you directly. One more thought: A no-fee brokerage company e.g. Charles Schwab. They offer a free one hour phone call with an investment adviser if you invest at least $25K. I personally had very good experiences with them. This answer may be too anecdotal and not specifically address the annuity dilemma you mentioned. That annunity dilemma is why you need to find someone you can trust, who is competent (see the credentials for financial advisers mentioned in the other answers), and will work the numbers out with you.",
"title": ""
},
{
"docid": "29e636684fa9bb971dfbff84f853c3b7",
"text": "Get a job, if you don't have one right now. Take deductions from your paycheck for an IRA or 401K if the company has one.",
"title": ""
}
] | [
{
"docid": "520e7ba0e4b551aa44c93970fffdde0d",
"text": "On pensions, part of the issue will be how well funded they are. Most pensions are not completely funded. In the US pension payments are insured to an annual cap by the PBGC. So you can loose out on part of your pension payment. I don't know what/if there is an equivalent in Canada.",
"title": ""
},
{
"docid": "71a0a28fb5c7847f3ffd5fdab87d2b59",
"text": "> At $31 billion, GE’s pension shortfall is the biggest among S&P 500 companies and 50 percent greater than any other corporation in the U.S. It’s a deficit that has swelled in recent years as Immelt spent more than $45 billion on share buybacks to win over Wall Street and pacify activists like Nelson Peltz. > > Part of it has to do with the paltry returns that have plagued pensions across corporate America as ultralow interest rates prevailed in the aftermath of the financial crisis. But perhaps more importantly, GE’s dilemma underscores deeper concerns about modern capitalism’s all-consuming focus on immediate results, which some suggest is short-sighted and could ultimately leave everyone -- including shareholders themselves -- worse off.",
"title": ""
},
{
"docid": "2154894e784fa76977d182c90058d00e",
"text": "Well this is not the best situation. Sorry to your friend. First off ROTHs are out, you need earned income. Secondly, I don't think the focus should be on retirement planning until there is again an earned income. Thirdly, this person is just in a bad spot. Lets assume that you can find some really good mutual funds, that consistently return 10% per year. At best this person can only pull out 10K per year without touching principle. At that income level, taxes are not much of a concern; not as much as surviving. If this person knows anything about investing, they know funds don't work like this. They could be down 5%, down 5%, up ~40% in three years to give an average of 10% return. Which of course further complicates matters. This person (IMO) should seek to start a different career. One that can cater to any long term issues this person has with pain/disability. The money could be used toward training/education in order to get money flowing again. That is not to say the full amount should be used for a BA in Russian Folk Literature, but some minimum training to get a career that starts earning real money.",
"title": ""
},
{
"docid": "a0994d1ec45dc7b1639e3b353e740fc7",
"text": "Don't forget job. That's one of the things people in the lower classes lost. I was trying to figure out why there weren't mass firings at trading and accounting firms until the numbers started popping up. They had basically just liquidated what they had, bought at lower numbers, and are now reaping the profits. Too bad most people earning under $250k a year can't do that.",
"title": ""
},
{
"docid": "74c020c4969af53f64ab7f5211d86b49",
"text": "\"The gross liabilities (benefit obligation) will still be there, regardless. They are *future* benefits. Sure, you can increase funding to the plan to eliminate the *net* pension liability, but why? The new assets would earn very little. The shortfall is not an excessively large risk. The only reason seems to be the \"\"all-consuming focus on immediate results\"\" which is more rhetoric than reality in this case.\"",
"title": ""
},
{
"docid": "bd3db7ba67b69b0a6bb9b5ed64bdbf5b",
"text": "I am sorry for your loss, this person blessed you greatly. For now I would put it in a savings account. I'd use a high yield account like EverBank or Personal Savings from Amex. There are others it is pretty easy to do your own research. Expect to earn around 2200 if you keep it there a year. As you grieve, I'd ask myself what this person would want me to do with the money. I'd arrive at a plan that involved me investing some, giving some, and spending some. I have a feeling, knowing that you have done pretty well for yourself financially, that this person would want you to spend some money on yourself. It is important to honor their memory. Giving is an important part of building wealth, and so is investing. Perhaps you can give/purchase a bench or part of a walkway at one of your favorite locations like a zoo. This will help you remember this person fondly. For the investing part, I would recommend contacting a company like Fidelity or Vanguard. The can guide you into mutual funds that suit your needs and will help you understand the workings of them. As far as Fidelity, they will tend to guide you toward their company funds, but they are no load. Once you learn how to use the website, it is pretty easy to pick your own funds. And always, you can come back here with more questions.",
"title": ""
},
{
"docid": "648dc0f65d1f823e09181327ef4871ea",
"text": "I'm not sure I'd say the assets they had were worthless. One of the big controversies was whether it was a solvency crisis (bad assets) or a liquidity crisis (fine assets, but if everyone sells illiquid assets there's a fire sale problem). The US and Buffett bet it was a liquidity crisis, and they were proven right.",
"title": ""
},
{
"docid": "cc1cf169ab94c3ca2ec2792758e84bb9",
"text": "Uhh ... Not really. There was a bank run, it just wasn't on deposits. We are only staving off depression by taxing future dollars ... That policy will probably fail eventually and if we haven't gained enough aggregate hard inputs (people or technology) by the time this delaying tactic runs out then it will be depression. You really misread my comment anyway. Move all insured deposits to not for profit credit unions and sever them completely from investment/commercial banking. Remove all deposit insurance from commercial/investment banking and with it the inherent moral hazard imbedded in the system. We still have insured deposits but for profit banks won't be able to filter them through to investment banking through the shadow banking system.",
"title": ""
},
{
"docid": "271e35b038f0d575c15530850df63d08",
"text": "Well, if they were lemons, the value is significantly less than what GS sold them to the government for. What is more sad is that Fannie and Freddie are going to get made whole and we are going to pretend like their incompetence and lack of due diligence never happened. Back to business as usual, until the next time the hacks at these government agencies get burned.",
"title": ""
},
{
"docid": "f01516ef052e1c21bf289ad223b08b6a",
"text": "> I no longer have the fantasy belief that I can do better managing my money than professional investors The pension fund probably lost about as much as your investments did, but they still had to pay out as if they were meeting their targets. I understand you weren't really offered a choice between a higher salary or a pension, so my observation is academic, but to me it just seems strange to believe that a company can pay you a fixed sum of money 30 years in the future. Maybe it's just a generational thing but the whole idea of investing (figuratively) your entire future in a single company doesn't make sense to me. I actually think it's good in the long run that we're moving away from the work at one company your entire life model. Companies shouldn't be in the business of providing retirement benefits any more than they should healthcare plans, IMO.",
"title": ""
},
{
"docid": "a967f815ea0304abde07362df5bba0f4",
"text": "\"The abysmal stats on personal savings concern me the most. When push comes to shove, these people will vote to steal from those of us who made wise financial decisions and were responsible savers. Forced draw downs of 401k's before retirement age? Taxation on internal gains in retirement plans? \"\"Wealth\"\" taxes on retirement balances? It's coming in some form or another. Stay vigilant!\"",
"title": ""
},
{
"docid": "c13af654934bc577fa0bd825f6a33460",
"text": "\"Since your question was first posted, I happened to watch PBS FRONTLINE's The Retirement Gamble, about \"\"America's Retirement Crisis\"\" and the retirement industry. You can watch the entire episode online at the previous link, and it's also available on DVD. Here's a link to the episode transcript. Here's a partial blurb from a post at PBS that announced the episode: If you’ve been watching any commercial television lately, you are well aware that the financial services industry is very busy running expensive ads imploring us to worry about our retirement futures. Open a new account today, they say. They are not wrong that we should be doing something: America is facing a retirement crisis. One in three Americans has no retirement savings at all. One in two reports that they can’t save enough. On top of that, we are living longer, and health care costs, as we all know, are increasing. But, as I found when investigating the retirement planning and mutual funds industries in The Retirement Gamble, which airs tonight on FRONTLINE, those advertisements are imploring us to start saving for one simple reason. Retirement is big business — and very profitable. (... more... ) There's another related PBS FRONTLINE documentary from back in 2006, Can You Afford To Retire? You'll find a link on that page to watch the program online. Finally, I'm also aware of but haven't yet seen a new documentary called Broken Eggs: The Looming Retirement Crisis in America. Looks like it isn't available for online streaming or on DVD yet, but I expect it would be, eventually.\"",
"title": ""
},
{
"docid": "590410dbf3bc7cecced45bb305aba857",
"text": "I was also going to mention people going through savings during unemployment. And given the unemployment figures, 28% having no emergency savings even seems low. Purely anecdotal but I cleared through my savings a few years ago during seven months of unemployment and have several friends who did the same and/or racked up thousands in debt.",
"title": ""
},
{
"docid": "24ce1d080d8142a55975f5ea1e071e6d",
"text": "\"I can see why you are feeling financial stress. If I understand right you have put yourself in a very uncomfortable and unsustainable situation and one that should indeed be very stressful for a person of your age. I feel a lot of stress just reading over your question. I'm going to be very frank. Your financial situation suggests that you have very aggressively taken wealth from your future self in order to consume and to make inefficient investments. Well, look in the mirror and say to yourself \"\"I am now my future self and it is time to pay for my past decisions.\"\" Don't take money out of your IRA. That would be continuing the behavior as it is a very inefficient use of your resources that will lead to yet more extreme poverty down the line. Ok, you can't take back what you have done in the past. What to do now? Major life restructuring. If I were you, I'd sell my house if I had one. Move in with one of your kids if you have any nearby. If not, move into the cheapest trailer you can find. Take a second job. Very seriously look to see if you can get a job that pays more for your primary job--I know you love your current job but you simply cannot continue as you are now. Start eating really cheap food and buying clothes at thrift stores. Throw everything you can at your debts, starting with the ones with the highest interest rate. Plan now to continue working long after your peers have retired. Early in life is the time to be borrowing. Middle age is when you should be finishing paying off any remaining debts and tucking away like crazy for retirement. Now is not an OK time to be taking on additional debt to fund consumption. I know changing your life is going to be very uncomfortable, but I think you will find that there is more peace of mind in having some amount of financial security (which for you will require a LOT of changes) than in borrowing ever more to fund a lifestyle you cannot sustain.\"",
"title": ""
},
{
"docid": "692579e2c78ec184eabeb8f9581d99b8",
"text": "Yes, I think this is the general idea. We're going through a deleveraging. On the one hand, this isn't entirely a bad thing because the financial crisis showed some people were lending irresponsibly. A lot of bad loans were made and bad loans that don't get repaid cause a lot of havoc. One the down side, like the original poster said this makes it seem like money is drying up. This has been a bigger problem in some places than other. A lot would argue, myself included, that the US has deleveraged relatively--and key word is relatively--smoothly. Other places, like Europe have not been so lucky.",
"title": ""
}
] | fiqa |
f743176e9113d06d75b32bb777560926 | Why do governments borrow money instead of printing it? | [
{
"docid": "8e1162224e7de57d4ba2000d60312f68",
"text": "\"Governments borrowing money doesn't create new money. When banks \"\"borrow\"\" money (i.e. take deposits), it does effectively create money because the depositor expects to be able to get the money back at any time, but the bank assumes that most won't actually do this and lends out most of the money to other people. If everyone did actually ask for their money back at once, the illusion of the extra money created by this process would collapse, and the bank would go bust. In contrast when governments borrow money, the loan isn't repayable on demand, it has a fixed maturity and the money is only repaid at the end of that period (plus interest at defined points during the period). So holders of government debt don't have money they can spend (they can turn it into money they can spend but only by finding someone else to buy it). So government debt doesn't create inflation in itself. If they printed money, then they'd be devaluing the money of everyone who had saved or invested, whereas if they borrow money and use taxes to repay it, the burden falls more evenly across the economy and doesn't disproportionately penalise certain sets of people.\"",
"title": ""
},
{
"docid": "974dba9596ea8e2448e7dc1f906a4e7a",
"text": "“Why do governments borrow money instead of printing it? (When printing money, one doesn't need to pay interest).” Good question. Numerous leading economists, including a couple of economics Nobel Laureates have asked the same question and concluded that borrowing can be dispensed with. First, Milton Freidman set out a monetary system in a paper in the American Economic Review which involved no government borrowing, and govt just printed money (in a responsible fashion of course) as and when needed. See: http://www.jstor.org/pss/1810624 A second Nobel Laureate with similar views was William Vickrey. A third economist with similar views (of Keynes’ era) was Abba Lerner. Keynes said of Lerner, “Lerner's argument is impeccable, but heaven help anyone who tries to put it across to the plain man at this stage of the evolution of our ideas”.",
"title": ""
},
{
"docid": "c9d73e9c38b453f3ed9a969eedcf0102",
"text": "\"Yes - Simply put, printing money is called \"\"monetizing the debt\"\" and would result in some nasty inflation. It's a no-no as it quickly devalues the currency and makes it far more difficult to borrow in the future, an entire generation will remember getting burned by it. If, say, Canada's currency were suddenly worth half as much and you received half your investment back in US dollars (e.g. you paid US$10,000, but now have US$5000) would you ever trust them again? The economy is far more complex than one can discuss here, but the fractional reserve system is the next creator of money, although it's not unlimited, the reserve requirement throttles it back. The demand for loans is impacted both by the rate itself and the bank's willingness to lend. The housing bubble had multiple causes. In a sense Tucson is right. Anything we do to make houses more affordable can cause house price inflation. But - the over the top underwriting had more impact in my opinion. People lost sight of good lending practices. The option rate interest only ARMs were financial time bombs.\"",
"title": ""
},
{
"docid": "318d8f36eb6e2ab8c6c7ecbd948c3e6f",
"text": "One important answer is still missing: governments may not be able to do print money because of international agreements. This is in fact a very important reason: it applies to the entire Eurozone. (I admit that many Eurozone countries also not allowed to borrow as much as they do now, but somehow that's considered a far lesser sin).",
"title": ""
},
{
"docid": "8c4b8111a06c166734d39353af973e28",
"text": "\"If the government prints money recklessly and causes inflation, people will come to expect inflation, and the value of the currency will plummet, and you'll end up like Zimbabwe where a trillion dollars won't buy a loaf of bread. If the government actually pays people for the money they borrow, they don't have this problem - and as it turns out, the US government can get pretty good rates on borrowing in general, in part because they're extraordinarily good about paying them back. (Also, inflation expectations are low, so people will accept 1-2% interest rates. If you expected inflation of 10%, you'd see people demanding something more like 12% interest rates.) (The downside of too much of this sort of borrowing is that it \"\"crowds out\"\" other borrowing, which may harm the economy. Who would lend money to / invest in a small business, if the government is paying good money and there's almost no risk at all?) Now, inflation can come into play afterward, if the Fed decides it needs to maintain \"\"easy money\"\" policies to stimulate the economy (because taxes are too high because we're paying off the debt, or because we've crowded out smaller borrowers, or something). -- In general, you can count on the the principle that if you, as the government, try to play too many games with people's money... well, people aren't stupid; they will eventually catch on, and adjust their behavior to compensate, and then you're right back where you started, but with less trust.\"",
"title": ""
},
{
"docid": "b4e87a814da9242f7855873f3fdeff89",
"text": "I believe there are two ways new money is created: My favorite description of this (money creation) comes from Chris Martenson: the video is here on Youtube. And yes, I believe both can create inflation. In fact this is what happened in the US between 2004 and 2007: increasing loans to households to buy houses created an inflation of home prices.",
"title": ""
},
{
"docid": "484865bc376aca15ff872884d30cce0a",
"text": "The Government doesn't borrow money. It in fact simply prints it. The bond market is used for an advanced way of controlling the demand for this printed money. Think about it logically. Take 2011 for example. The Govt spent $1.7 trillion more than it took in. This is real money that get's credited in to people's bank accounts to purchase real goods and services. Now who purchases the majority of treasuries? The Primary Dealers. What are the Primary Dealers? They are banks. Where do banks get their money? From us. So now put two and two together. When the Govt spends $1.7 trillion and credits our bank accounts, the banking system has $1.7 trillion more. Then that money flows in to pension funds, gets spent in to corporation who then send that money to China for cheap products... and eventually the money spent purchases up Govt securities for investments. We had to physically give China 1 trillion dollars for them to be able to purchase 1 trillion dollars in securities. So it makes sense if you think about how the math works in the real world.",
"title": ""
},
{
"docid": "7aed7fb7aa5aec51da13434fa017415d",
"text": "The government could actually do either one to expand the money supply as necessary to keep up with rising productivity / an increased labor supply. The question is merely political. In the case of the US, printing money involves convincing politicians to spend it. While we currently run a deficit, there is a large lobby within the US who are incredibly anti-deficit, and are fighting against this for no good reason. If the money supply were left in their hands, we would end up with a shrinking money supply and rapid deflation. On the other hand, the Fed can simply bypass the politicians, and control the money supply directly by issuing bonds. It's easier for them, they don't have to explain it to voters (only to economists), and it gives them more direct control without any messy political considerations like which programs to expand or cut.",
"title": ""
},
{
"docid": "2d4e003d38fa9badb0bb254eaf214e95",
"text": "My own simple answer is that it will affect and reduce productivity (e.g. Zimbabwe). it will also cause inflation which mean that no one will want to work for production again.",
"title": ""
},
{
"docid": "f67202d9b27a52fcd4463f249befbb94",
"text": "\"My answer is that when confronted with the obvious, the most common human reaction is to seek reasons for it, because things have to be right. They have to have a reason. We don't like it when things suck. So when finding out that you are being ripped off every day of your life, your reaction is \"\"There must be a logical reason that perfectly explain why this is. After all, the world is fair, governments are working in our best interest and if they do it this way, they must have a very good reason for it.\"\" Sorry, but that not the case. You have the facts. You are just not looking at them. Economics, as a subject, is the proper management of resources and production. Now, forget the fancy theories, the elaborate nonsense about stocks and bonds and currencies and pay attention to the actual situation. On our planet, most people earn $2,000 per year. Clean water is not available for a very sizable percent of the world's population. Admittedly, 90% of the world's wealth is concentrated in the hands of the most wealthy 10%. A Chinese engineer earns a fraction of what a similarly qualified engineer earns in the States. Most people, even in rich countries, have a negative net value. They have mortgages that run for a third of their lifetimes, credit card debts, loans... do the balance. Most people are broke. Does this strike you as the logical result of a fair and balanced economic system? Does this look like a random happenstance? The dominant theory is \"\"It just happened, it's nobody's fault and nobody designed it that way and to think otherwise is very bad because it makes you a conspiracy theorist, and conspiracy theorists are nuts. You are not nuts are you?\"\" Look at the facts already in your possession. It didn't just happen. The system is rigged. When a suit typing a few numbers in a computer can make more money in 5 minutes than an average Joe can make in 100 lifetimes of honest, productive work, you don't have a fair economic system, you have a scam machine. When you look at a system as broken as the one we have, you shouldn't be asking yourself \"\"what makes this system right?\"\" What you should be asking yourself is more along the lines of \"\"Why is it broken? Who benefits? Why did congress turn its monetary policy over to the Federal reserve (a group of unelected and unaccountable individuals with strong ties in the banking industry) and does not even bother to conduct audits to know how your money is actually managed? This brilliant movie, Money as debt, points to a number of outrageous bugs in our economic system. Now, you can dream up reasons why the system should be the way it is and why it is an acceptable system. Or you can look at the fact and realize that there is NO JUSTIFICATION for an economic system that perform as badly as it does. Back to basics. Money is supposed to represent production. It's in every basic textbook on the subject of economics. So, what should money creation be based on? Debt? No. Gold? No. Randomly printed by the government when they feel like it? No (although this could actually be better than the 2 previous suggestions) Money is supposed to represent production. Index money on production and you have a sound system. Why isn't it done that way? Why do you think that is?\"",
"title": ""
}
] | [
{
"docid": "89a7ef5ff873b07c2785dce4cda5b1e0",
"text": "That's effectively borrowing on margin from the government. You too can borrow on margin, just not from the government. It is true that the government perverts the finance system through. I would imagine it would be very hard to play basketball too, if the ref didn't play basketball.",
"title": ""
},
{
"docid": "2393a44dc0901577a7086d3f55c7bdc7",
"text": "\"Sovereign states borrow money explicitly in a two primary ways: A sovereign cannot be compelled to repay debt, and there isn't a judicial process like bankruptcy to erase debt. When sovereigns default, they negotiate new terms with creditors and pay back some fraction of the actual debt owed. They can also print money to repay debt, which has other nasty consequences. But, while a state cannot be compelled to repay a debt, creditors cannot be compelled to loan money to the state either! Any enterprise of sufficient size needs access to capital via loans to meet daily obligations in anticipation of revenue -- even when times are good. Defaulting makes borrowing impossible or expensive, and is avoided. Regarding using your military to avoid repaying debt... remember what Napoleon said: \"\"An army travels on its stomach\"\". Military campaigns are expensive... no borrowing ability means the soldiers don't get paid and the food, fuel and ammo don't get delivered. Smaller countries have other risks as well. Many nations are essentially forced to use US Dollars as a reserve currency, or are forced by the market to borrow money in a foreign currency. This creates a situation where any risk of non-payment results in a deep devaluation of the local currency. When your debt is denominated in dollars, these shifts can dramatically increase your debt obligations from a local currency point of view. You also run the risk that a larger or richer company will park warships in your harbor and seize assets as payment -- the US and Britain engaged in this several times during the 19th and 20th centuries. In general, not paying the bills has a cascading effect. Bad situations get worse, and they do so quickly.\"",
"title": ""
},
{
"docid": "89640a1a93a92d0cbcc9d6d3da310f6a",
"text": "As long as we remember that debt is the only option when the government has to borrow their money at interest or take it from taxes. When taxes don't cut it, we borrow. Ever wondered why the government doesn't just spend money into the economy instead of borrowing at interest?",
"title": ""
},
{
"docid": "0389ef13c4efdfebeb2cfe9c55344eb3",
"text": "\"This might not map well, because personal finance is not the global economy; but let's start by talking about this in terms of the cost of a loan vs the gain of an investment. If you can buy a house with a mortgage at 3%, but make 7% on average in the stock market... You should take as *looong* as possible to pay that off, and invest every penny you can spare in the markets. Heck, if you can take on even *more* debt at 3%, you should still do the same. Now imagine you have the power to literally print money, *but*, doing so is effectively a form of \"\"loan\"\" to yourself. We call the \"\"interest\"\" on that loan \"\"inflation\"\", and it comes out to roughly 2%, basically the same rate that US treasuries pay (they aren't strictly locked, but they rarely drift far apart). So, if you can print money at 1%, you should rationally print as much money as you possibly can to buy US treasuries at 2+%. But someone has to *take* that money off your hands - Pallets of money siting in a warehouse aren't worth any more than the paper they're made of. There we get into trade imbalances... Whether printing money costs you 0.1% or 10% or 1000% per year depends on whether your country is, on average, making or losing money on international trade (I'm glossing over a hell of a lot there, as full disclosure), and by how much. If you're printing money as fast as you can just to buy food to stay alive with zero exports, you're screwed; if your country exports $10 to the US (or equivalents) for every $1 you import, the rest of that is essentially \"\"invested\"\" in USD, in that you didn't need to print it yourself just to feed your people.\"",
"title": ""
},
{
"docid": "901f2c8cb32f9bbb3b3737c43cd6f6fd",
"text": "\"The Federal Reserve is not the only way that money can be \"\"printed.\"\" Every bank does fractional reserve banking, thereby increasing the money supply every time they make a new loan. There's a number called the reserve requirement which limits how much money each bank can create. Lowering the reserve requirement allows banks to create more money. Raising it will destroy money. But banks can also destroy money by calling in loans or being less willing to make new loans. So when you look at the number of banks in the US, and the number of loans they all have, it's impossible to figure out exactly how much the money supply is expanding or contracting.\"",
"title": ""
},
{
"docid": "3d4cbb754fb5e260bca5cc7130399d9c",
"text": "\"Gold is not debt, \"\"money\"\" is debt (whatever it is made of). In the example above, everything could have been exactly the same, except using certificates written on sharks instead of on paper. Now, sharks have value, paper has value, and gold has value. When you print money, the stuff you make it out of has some utility separate from its use as currency. But when you are using it as currency (regardless of what it is made from), it is a marker for debt. You go to work for an hour, your boss gives you a marker that you can trade for a cheeseburger or some gasoline or a ferret or cantaloupes, or whatever you want. That marker is an IOU for the work you did. You give it to the cantaloupe store, and it becomes an IOU for the value of one cantaloupe. They give it to the store employees or the cantaloupe-grower or whatever, and so on. It doesn't matter what that marker is made out of, its function is the same. If it were gold, you could melt it down and make a ring out of it. If it's paper, you could use it as a bookmark or a shopping list or to blow your nose, if it's a shark you scare people with it in the pool. N.B., this is totally separate from the question of whether we should be using gold as a currency, which has to do with the fact that the gold supply is a lot more stable than the paper supply, and whether being able to easily print more money on demand is a good thing or a bad thing.\"",
"title": ""
},
{
"docid": "a6e444f254d171aade7bf0b62c90b74d",
"text": "\"Debt can be denominated either in a currency the country controls or a currency the country doesn't control. If the debt is denominated in a currency the country controls then they have the option of \"\"printing their way out of it\"\". That option doesn't come for free, it will devalue their currency on the global market and hurt savers in their country but it is an option. If the debt is denominated in a currency the country does not control then they don't have that option. As I understand it the US debt is in the first category. It's denominated in US dollars so the US government could if they so wished print their way out of it. On the other hand greece's debt is denominated in euros putting them at the mercy of european bankers.\"",
"title": ""
},
{
"docid": "b12b0aabd80cb5c2609e5f39ae7a7ad3",
"text": "The debt is absolutely real. China loans money to US via buying the US treasury bonds. The bond is essentially a promise to pay back the money with interest, just like a loan. As you point out, the US can print money. If this were to happen, then the USD that the owner of a treasury bond receives when the bond matures are worth less that than the USD used to purchase the bonds. There are lots of reasons why the US doesn't want to print lots of money, so the purchaser of the bond is probably confident it won't happen. If for some reason they think it is possible, then they will want to cover that risk by only purchasing bonds that have a higher interest rate. The higher interest offsets the risk of the USD being worth less. Of course, there are lots more details, e.g., the bonds themselves are bought and sold before maturity, but this is the basic idea.",
"title": ""
},
{
"docid": "949fc768dba52d0febfd534e468933d7",
"text": "Indirect exchange (the common units of which are called 'money') is not debt (though the commodity of indirect exchange may be debt). Physical gold is not debt (it is mined, not conjured into existence from someone's promise of future goods). Gold-backed paper currency is gold debt. Indirect exchange is an extension of barter, not a replacement. The advantage of indirect exchange over direct exchange is that it solves the coincident of wants problem. (Alice may want a telescope, but Charlie doesn't want 500 apples for it. Alice finds out that Charlie would trade the telescope for 1 unit of gold. Alice then finds Bob who is willing to trade 1 unit of gold for 500 apples. Alice then trades with Bob and then trades with Charlie to get what she wants.)",
"title": ""
},
{
"docid": "dd88f6c443a1535b5c8861a194ec061a",
"text": "Up until 1913, the printing press was at the US treasury under the jursidiction of Congress. Congress needs to take back the printing press and perform their constitutional duties as described. Right now, our government pays interest to borrow in its own currency. If the printing press was at the treasury, that wouldn't happen.",
"title": ""
},
{
"docid": "6e51bfc41028fd9988f5636bea1bf842",
"text": "\"Hah! In so far as the financial sector isn't making money off the government, then I would say it is truly \"\"financed through the financial sector\"\". The financial sector doesn't operate at a loss, which is what you are suggesting here. They aren't paying the government to have roads and power and plumbing and water, etc. The financial sector is paying because they make more money back. You want to admit who is paying to have roads and water and power and plumbing, etc? Every person who gets a paycheck or owns a house is. Not big money. Ordinary people. Taxes and Tariffs, and printing money pays for all of this. We, the tax payer, aren't seeing a financial reimbursement for our expenses on these projects. But Big Money is. Our reimbursement is: Roads, Power, plumbing, Police, Fire Departments. Which means we are the consumers buying products. Big Money is the middle man making bucks off the system. Perhaps Big Money is necessary, but now it is out of control, and needs to be held accountable.\"",
"title": ""
},
{
"docid": "0d7882c298cb26a09da949ad3a233ca7",
"text": "\"Its definitely not a stupid question. The average American has absolutely no idea how this process works. I know this might be annoying, but I'm answering without 100% certainty. The Fed would increase the money supply by buying back government bonds. This increased demand for bonds would raise their price and therefore lower the interest return that they deliver. Since U.S. treasury bonds are considered to be the very safest possible investment, their rate is the \"\"risk free\"\" rate upon which all other rates are based. So if the government buys billions of these bonds, that much money ends up in the hands of whoever sold them. These sellers are the large financial organizations that hold all of our money (banks and large investment vehicles). Now, since bond rates are lower, they have an incentive to put that money somewhere else. It goes into stocks and investment in business ventures. I'm less certain about how this turns into inflation that consumers will recognize. The short answer is that there is only a finite number of goods and services for us to buy. If the amount of money increases and there are still the same number of goods and services, the prices will increase slightly. Your question about printing money to pay off debts is too complex for me to answer. I know that the inflation dynamic does play a role. It makes debts easier to pay off in the future than they seem right now. However, causing massive inflation to pay off debts brings a lot of other problems.\"",
"title": ""
},
{
"docid": "440a586735e707c8207b09ed7ea6c8fb",
"text": "Lots of countries *have* printed themselves away from debt. Not all inflation turns into a death spiral like Zimbabwe (or Weimar Germany) did, for that you need to have a really shitty economy that no-one believes in. The problem with Japan right now is that they are trying to print their debt away, but as they do so, their currency *appreciates*. Gold medal for the first one who manages to explain that one.",
"title": ""
},
{
"docid": "563370102cb9f40dac98d141693dfb3a",
"text": "For now we can pay off our debt in United States dollars. If we lose our reserve currency status, we would have to pay it off with a different currency. If we continued printing money we would be debasing our currency against the new reserve currency, which would mean that after we took on too much debt we wouldn't really be able to pay our creditors back after exchanging our devalued currency for the new one on the international markets. We are lucky enough not to have to worry about this now. But I think OP was referring to all countries in these situations. Other countries don't have the luxury of just printing out massive amounts of money to pay off their debts. That is why I am saying that America has a very disillusioned view of reality when it comes to deficit spending. We wouldn't have that any more if the UN followed through with its suggestion to create a global reserve currency or reverted back to the gold standard (I don't think the second option is nearly as realistic but we never know).",
"title": ""
},
{
"docid": "83f2433f686f5fbcb2335dd11835eddd",
"text": "The answers provided so far as good and informative, but I just thought I'd add one small point... There are super-national organisations that commonly lend to governments, in particular those in the developing the world. The World Bank and IMF (International Monetary Fund) are the two primary ones. Also quite notably, the Greek economy was bailed out only this year by the EMF (European Monetary Fund) spearheaded by Germany - this is a rare occurrence however and was done mainly because Greece was a relatively developed country and others had an obligation to assist it as an EU member state.",
"title": ""
}
] | fiqa |
187f8c71472d89d4c9ea2a5ff117afdb | What one bit of financial advice do you wish you could've given yourself five years ago? | [
{
"docid": "7a4ae93194af2a0a0fe2aacc6ebd4f64",
"text": "2 things:",
"title": ""
},
{
"docid": "8baa695334e1bdabce2b656ab61849e8",
"text": "I wish I had learned my lesson from the dot com bubble before I took a piece of the housing bubble.",
"title": ""
},
{
"docid": "efdc5532739d0a4dffe075a15d95cc48",
"text": "Maybe not exactly 5 years ago, but the big thing I wish I understood starting out my career was retirement accounts and how they worked.",
"title": ""
},
{
"docid": "3a458ebfc69a8983373a3c1dcba152ac",
"text": "(more like 10 years ago, but that's beside the point) Save, save, save! Both in the notion of squeezing as much value as you can out of every purchase and the notion of putting money away in a savings account.",
"title": ""
},
{
"docid": "bc57ee4bf44d983adbf8164242b4c617",
"text": "I wish I would have:",
"title": ""
},
{
"docid": "8bd11357840b80e7088f487c2aa2a0ee",
"text": "I wish I had started contributing to the pension fund offered by my employer sooner than it became compulsory. That is, I started working when I was 23 but did not contribute to the pension fund until I was 30 (the age at which it is compulsory to do so). I lost a lot of productive years in mid to late 90s, when the stocks were doing well. :-(",
"title": ""
},
{
"docid": "383c962795fd56b2a213c3fe271fae6b",
"text": "I was offered a student credit card and refused it. If I'd taken it and used it sparingly, paying off the balance on time in full every month, I'd have built up a better credit rating in the time period.",
"title": ""
},
{
"docid": "328af1fc9fc26ca75a554bcdcf4e1973",
"text": "Compound interest. Next time you buy a 100$ toy realize that if you save it - in x years that 100$ you saved and invested could potentially be more than 100$ where as most likely whatever you're buying will be worth much less.",
"title": ""
},
{
"docid": "a952e08ce88e4e8dd12c03a770e8f61c",
"text": "Now, if I wasn't concerned with the integrity of my already tainted soul I would have given myself the following advice five years ago:",
"title": ""
},
{
"docid": "c508a884b9cae12359fc10cd07797cc9",
"text": "Advice to myself: the benefits of being self-employed totally outweigh the risks!",
"title": ""
},
{
"docid": "931fb69cc32b371354cc60e4f4f5229f",
"text": "Get an advanced degree. This should increase your earning power. Also learn how to use a computer, this should also tend to increase your earning power.",
"title": ""
},
{
"docid": "c7736c413e46d312a0846ae23aec8958",
"text": "I wish I would have known macro-economics taught by the Austrian School types at The Mises Institute. Their teachings would have compelled me to do the following:",
"title": ""
},
{
"docid": "dde567b8412cd2ce901cd8d325a5d5a1",
"text": "Bank every dollar possible to have more cash available for investing during the 2008/2009 crisis.",
"title": ""
},
{
"docid": "7dfb18c2783bc98b6cfc98f24e2a307e",
"text": "Planned my grocery shopping better. You can't just wake up on Saturday hungry go to the grocer and buy what looks good. Take the time to clip some coupons and more importantly make a shopping list.",
"title": ""
},
{
"docid": "a565634b1ad359d0687501ec41bfcb21",
"text": "Do your homework on all types bonds and other lower-risk instruments, including bond funds and ETFs. I left too much money sitting around as cash over the last 5 years.",
"title": ""
},
{
"docid": "80969d862d6e9e5f11065c9ddab516f9",
"text": "When I was contracting I wish I had joined a tax efficient umbrella organisation rather than just work as a sole trader. I also wish I had put money aside to pay my taxes rather than just spend it all. :(",
"title": ""
}
] | [
{
"docid": "4f03d187b00e10733007a280dd18faf3",
"text": "\"Create a meaningful goal for yourself which would distract you from impulsively spending all your money and help you to direct it towards something more meaningful. Maybe you're curious about just how little money you can live off of in one year and you're up for a challenge. Maybe you want to take a whole year off from work. A trip around the world. Or create a financial independence account, the money that is put into this account should NEVER be touched, the idea is to live off of the interest that it throws off. I strongly suggest that you listen to the audio book \"\"PROSPERITY CONSCIOUSNESS\"\" by Fredric Lehrman. You can probably find a copy at your local library, or buy if off of amazon.\"",
"title": ""
},
{
"docid": "1cbc480e84ae4fc8dad1b073d8efd72d",
"text": "\"I've recommended this book a few times on this site, and I'm going to do it again. Get a Financial Life: Personal Finance in Your Twenties and Thirties by Beth Kobliner Most of the personal finance advice books and blogs I have found focus too much on investing, or are more about \"\"lifestyle\"\" than finances, and left me unimpressed. I like this book because it covers most of the major personal finance topics (budgets, rainy-day fund, insurance, retirement, and non-retirement investment). I have not found another book that covers the topics as concisely as this one. It is no-nonsense, very light reading. Even if you are not a book person, you can finish it in a weekend. It is really geared for the young person starting their career. Not the most current book (pre real-estate boom), but the advice is still sound. Keep in mind that is is starting point, not the ultimate answer to all financial questions.\"",
"title": ""
},
{
"docid": "59863bdbdc58a56e57aff3dd0c7b6376",
"text": "\"You bring up some very high level stuff, each of which can be the subject of a life's work. For taxes, I first read J.K. Lasser's Your Income Tax. I actually read it cover to cover instead of using it as a reference guide. I hit topics that I'd otherwise have never looked up on purpose. Once you familiarize yourself with the current tax code, keeping up on changes to the code goes pretty well. As far as investing goes, William Bernstein has two titles, “The Four Pillars of Investing” and “The Intelligent Asset Allocator”. Others have liked “Personal Finance for Dummies” by Eric Tyson. These are great introductory books, the classic is “Security Analysis” by Graham & Dodd. Warren Buffet was a student of Benjamin Graham and he did fine applying these principals. For retirement, The Number by Lee Eisenberg was a good read. I consider retirement an extension of the investing education, only the money flow is reversed, withdrawals, no new deposits. Of course this is an oversimplification. In my own reading list, I include books such as “Extraordinary Popular Delusions & the Madness of Crowds” by Charles MacKay and “The Great Crash 1929″ by John Kenneth Galbraith. Understanding how these bubbles happen is critical to a complete education. I'm convinced that when it comes to investing if I can teach my daughter to understand the concept of Risk and Reward and to understand there are certain common alerts to such bubbles, the simplest of which is the term \"\"this time is different\"\" as though a hundred years of market dynamics can change in a matter of a few years. Last, there are books like \"\"Stop Acting Rich\"\" by Dr Thomas Stanley. Not quite investing, per se, but a good read to get an idea of how we have a distorted view of certain signs of wealth. Keep reading, no harm in taking books out of the library and returning if the first chapter or two disappoints.\"",
"title": ""
},
{
"docid": "bbecd0a7a810d4f020f864f67cd13bb1",
"text": "Really the question you need to ask yourself is how much Risk you want to take in order to save a little on interest for 5 years. Rates are pretty close to a historic low, and if you have good credit you should shop around a bit to get a good ideal of what a 15 or 30 year fixed loan would go for. For people that are SURE they will be selling a property in a few years, a 5-yeah balloon, or ARM might not be a bad thing. OTOH, if their plans change, or if you plan to stay in the property for longer (e.g. 10-15 years) then they have the potential to turn into a HUGE trap, and could have the effect of forcing you to sell your house. The most likely people to fall into such a trap are those who are trying to buy more house than they can really afford and max out what they can pay using a lower rate and then later cannot afford the payments if anything happens that makes the rate go up. Over the last three years we've seen a large number of foreclosures and short-sales taking place are because of people who fell into just this kind of trap.. I strongly advise you learn from their mistakes and do NOT follow in their footsetps You need to consider what could happen in 5 years time. Or if the economy takes off and/or the Fed is not careful with interest rates and money supply, we could see high inflation and high interest rates to go along with it. The odds of rates being any lower in 5 years time is probably pretty low. The odds of it being higher depends on who's crystal ball you look at. I think most people would say that rates are likely to increase (and the disagreement is over just how much and how soon). If you are forced to refinance in 5 years time, and the rates are higher, will you be able to make the payments, or will you potentially be forced out of the house? Perhaps into something much smaller. What happens if the rates at that time are 9% and even an ARM is only 6%? Could you make the payments or would you be forced to sell? Potentially you could end up paying out more in interest than if you had just gotten a simple fixed loan. Myself, I'd not take the risk. For much of the last 40 years people would have sold off their children or body parts to get rates like we have today on a standard fixed loan. I'd go for a standard fixed loan between 15 and 30 years duration. If you want to pay extra principle to get it paid off earlier in order to feel more secure or just get out from under the debt, then do so (personally, I wouldn't bother, not at today's rates)",
"title": ""
},
{
"docid": "60c540abcf82bfac279538fd755a87c3",
"text": "\"The advice to \"\"Only invest what you can afford to lose\"\" is good advice. Most people should have several pots of money: Checking to pay your bills; short term savings; emergency fund; college fund; retirement. When you think about investing that is the funds that have along lead time: college and retirement. It is never the money you need to pay your bills. Now when somebody is young, the money they have decided to invest can be in riskier investments. You have time to recover. Over time the transition is made to less risky investments because the recovery time is now limited. For example putting all your college savings for your recent high school graduate into the stock market could have devastating consequences. Your hear this advice \"\"Only invest what you can afford to lose\"\" because too many people ask about hove to maximize the return on the down payment for their house: Example A, Example B. They want to use vehicles designed for long term investing, for short term purposes. Imagine a 10% correction while you are waiting for closing.\"",
"title": ""
},
{
"docid": "bf1771fdc7d94d39168a44bfe92006e8",
"text": "It is one thing to take the advice of some numb-skulls on a web site, it is another thing to take the advice of someone who is really wealthy. For myself, I enjoy a very low interest rate (less than 3%) and am aggressively paying down my mortgage. One night I was contemplating slowing that down, and even the possibility of borrowing more to purchase another rental property. I went to bed and picked up Kevin O'Leary's book(Cold Hard Truth On Men, Women, and Money: 50 Common Money Mistakes and How to Fix Them), which I happened to be reading at the time. The first line I read, went something like: The best investment anyone can make is to pay off their mortgage early. He then did some math with the assumption that the person was making a 3% mortgage payment. Any conflicting advice has to be weighted against what Mr. O'Leary has accomplished in his life. Mark Cuban also has a similar view on debt. From what I heard, 70% of the Forbes richest list would claim that getting out of debt is a critical step to wealth building. My plan is to do that, pay off my home in about 33 (September '16) more weeks and see where I can go from there.",
"title": ""
},
{
"docid": "fe391156b6c7fcd72d28e3cbe7b1f35e",
"text": "A savings account is your best bet. You do not have the time frame to mitigate/absorb risks. The general guideline for investment is 5 years or more. As you state you are no where near close to that time frame.",
"title": ""
},
{
"docid": "a849a576e82b7dbc8249212d2e914783",
"text": "The advice to invest in yourself is good advice. But the stock market can be very rewarding over the long pull. You have about 45 years to retirement now and that is plenty long enough that each dollar put into the market now will be many dollars then. A simple way to do this might be to open a brokerage account at a reputable broker and put a grand into a very broad based all market ETF and then doing nothing with it. The price of the ETF will go up and down with the usual market gyrations, but over the decades it will grow nicely. Make sure the ETF has low fees so that you aren't being overcharged. It's good that you are thinking about investing at a young age. A rational and consistent investment strategy will lead to wealth over the long pull.",
"title": ""
},
{
"docid": "3b463b0f734e7d008506b1e57b6c5756",
"text": "\"(Congrats on earning/saving $3K and not wanting to blow it all on immediate gratification!) I currently have it invested in sector mutual funds but with the rise and fall of the stock market, is this really the best way to prepare long-term? Long-term? Yes! However... four years is not long term. It is, in fact, borderline short term. (When I was your age, that was incomprehensible too, but trust me: it's true.) The problem is that there's an inverse relationship between reward and risk: the higher the possible reward, the greater the risk that you'll lose a big chunk of it. I invest that middle-term money in a mix of junk high yield bond funds and \"\"high\"\" yield savings accounts at an online bank. My preferences are HYG purchased at Fidelity (EDIT: because it's commission-free and I buy a few hundred dollars worth every month), and Ally Bank.\"",
"title": ""
},
{
"docid": "57a8790fe6738fd8ce55d4f0baeaa10f",
"text": "Your gut feeling is absolutely spot on - you shouldn't be worrying about pension now, not at the age of 25. Assuming that you're not a footballer in the middle of the most productive part of your career and already have a fat wad of crunchy banknotes under your pillow that you're looking to set aside for a rainy day when you won't be able to play at your prime any longer. That doesn't mean you shouldn't invest, nor that means that you mustn't save. There are several factors at play here. First of all as a young person you are likely to have a high tolerance for risk, there is still plenty of time to recover should expected returns not materialise. Even a pension fund with the most aggressive risk / return strategy might just not quite do it for you. You could invest into education instead, improve health, obtain a profitable skill, create social capital by building connections, pay for experience, buy a house, start a family or even a business. Next, as a young professional you're unlikely to have reached your full earning potential yet and due to the law of diminishing marginal utility a hundred pounds per month now have greater utility (i.e. positive impact on your lifestyle) than a seven hundred pounds will in 7-10 years time once your earnings plateaued. That is to say it's easier to save £700 month from £3000 and maintain a reasonable level of personal comfort than carve £100 from £1300 monthly income. And last, but not the least, lets face it from a human point of view - forty years is a very long investment horizon and many things might and will change. One of the downsides of UK pensions is that you have very little control over the money until you reach a certain age. Tactically I suggest saving up to build a cushion consisting of cash or near cash assets; the size of the stash should be such that it is enough to cover all of your expenses from a minimum of 2 months to a maximum of a year. The exact size will depend on your personal comfort level, whatever social net you have (parents, wife, partner) and how hard it will be to find a new source of income should the current cease to produce cash. On a strategic level you can start looking into investing any surplus cash into the foundation of what will bring joy and happiness into the next 40 years of your life. Your or your partners training and education is one of the most sensible choices whilst you're young. Starting a family is another one. Both might help you reach you full earning potential much quicker. Finding what you love to do and learning how to do it really well - cash can accelerate this process bringing you quicker there you want to be. If you were a start-up business in front of a huge uncaptured market would you rather use cash to pay dividends or finance growth?",
"title": ""
},
{
"docid": "6b474a0d47dd8050a1213e49e01afbc4",
"text": "Thanks for your service. I would avoid personal investment opportunities at this point. Reason being that you can't personally oversee them if you are deployed overseas. This would rule out rentals and small businesses. Revisit those possibilities if you get married or leave the service. If you have a definite time when you would like to purchase a car, you could buy a six or twelve month CD with the funds that you need for that. That will slightly bump up your returns without taking much risk. If you don't really need to buy the car, you could invest that money in stocks. Then if the stock market tanks, you wait until it recovers (note that that can be five to ten years) or until you build up your savings again. That increases your reward at a significant increase in your risk. The risk being that you might not be able to buy a car for several more years. Build an emergency fund. I would recommend six months of income. Reason being that your current circumstances are likely to change in an emergency. If you leave the service, your expenses increase a lot. If nothing else, the army stops providing room for you. That takes your expenses from trivial to a third of your income. So basing your emergency fund on expenses is likely to leave you short of what you need if your emergency leaves you out of the service. Army pay seems like a lot because room (and board when deployed) are provided. Without that, it's actually not that much. It's your low expenses that make you feel flush, not your income. If you made the same pay in civilian life, you'd likely feel rather poor. $30,000 sounds like a lot of money, but it really isn't. The median household income is a little over $50,000, so the median emergency fund should be something like $25,000 on the income standard. On the expenses standard, the emergency fund should be at least $15,000. The $15,000 remainder would buy a cheap new car or a good used car. The $5000 remainder from the income standard would give you a decent used car. I wouldn't recommend taking out a loan because you don't want to get stuck paying a loan on a car you can't drive because you deployed. Note that if you are out of contact, in the hospital, or captured, you may not be able to respond if there is a problem with the car or the loan. If you pay cash, you can leave the car with family and let them take care of things in case of a deployment. If you invested in a Roth IRA in January of 2016, you could have invested in either 2015 or 2016. If 2015, you can invest again for 2016. If not, you can invest for 2017 in three months. You may already know all that, but it seemed worth making explicit. The Thrift Savings Plan (TSP) allows you to invest up to $18,000 a year. If you're investing less than that, you could simply boost it to the limit. You apparently have an extra $10,000 that you could contribute. A 60% or 70% contribution is quite possible while in the army. If you max out your retirement savings now, it will give you more options when you leave the service. Or even if you just move out of base housing. If your TSP is maxed out, I would suggest automatically investing a portion of your income in a regular taxable mutual fund account. Most other investment opportunities require help to make work automatically. You essentially have to turn the money over to some individual you trust. Securities can be automated so that your investment grows automatically even when you are out of touch.",
"title": ""
},
{
"docid": "dd89a3b979537aa56baccb0c1159a488",
"text": "I recommend pulling up a retirement calculator and having an honest conversation about how long term savings works, and the power of compound interest. Just by playing around with the sliders on an online calculator, you can demonstrate how the early years are the most important. Depending on how much they make now and are considering saving, delaying 5-10 years can easily leave 6-7 figures on the table. If it's specifically a child or close family member, I recommend pulling up your retirement account. Talk with them about how you managed it, and how much you were putting in. Perhaps show them how much is the principal and how much is interest. If you did well, tell them how. If you didn't do as well as you liked, tell them what you would have done differently. Finally, discuss a bit of psychology. Even if they don't have a professional job and are making minimum wage, getting into the habit of saving makes it easier when they eventually make more. A couple of dollars a month isn't much, but getting into the habit makes it easier to save a couple hundred dollars a month later on.",
"title": ""
},
{
"docid": "1797deca663558fec70143129bd9e34b",
"text": "\"I would highly recommend the Dave Ramsey book \"\"The Total Money Makeover\"\". I read it about 5 years ago and my financial situation has slowly but steadily been improving ever since.\"",
"title": ""
},
{
"docid": "e4f3e150048fcbe3c225deaf069e60db",
"text": "\"Fund a way to make mistakes with someone else's money. It is the best business advice I got as a young person. You learn so much more by failure and f'up than you do by success and if you do it with others money then it doesn't really hurt you. The other thing I wish I had understood earlier was basic book keeping and financial analysis. At 33 I'm just now figuring out basic thinga like how a P&L and Balance sheet work together and how to do a cash forecast. As my mentor said: \"\"Double entry accounting has been used in business since Jesus. There's a reason. \"\"\"",
"title": ""
},
{
"docid": "71b21fd13403926ec1a6b658feec315f",
"text": "Talk about opportunity cost. Show a rope, and put a tag with him on the end of it. Explain that since he has max out his credit, he can no longer get more. Without more credit here are the things he can't have The key to illustrate is that all the money he makes, for the next several years is obligated to the people he has already borrowed it from. Try to have him imagine giving his entire paycheck to a bank, and then doing that for the next five years. To drive it home, point out that there are 5 super bowls, 5 college championship games, 5 final fours, 5 annual concerts he likes, 5 model years of cars, 5 or more iPhone versions in those five years. Or whatever he is into. 5 years of laptops, 5 years of fishing trips. These things are not affordable to him right now. He has already spent his money for the next 5 years, and those are the things he cannot have because he is, in fact, out of cash. Furthermore, if he continues, the credit will dry up completely and his 5 year horizon could easily become ten. To illustrate how long 5 or 10 years is, have him remember that 10 years ago he might have been in college or the military. That 5 years ago Facebook was no big thing. That 5 years ago the Razr was an awesome phone. That 5 years ago we had a different president.",
"title": ""
}
] | fiqa |
151ac1d461d6e2fbd0846cc4f8c0c710 | Why is auto insurance ridiculously overpriced for those who drive few miles? | [
{
"docid": "e693ba7ba545591de418e7572e360c4b",
"text": "There are several aspects to this but at a high level it boils down to A lot goes in to insurance rating and risk projecting. You can't adjust a single variable and expect a proportional change in your premium, 7,000 miles per year just won't be 70% of the cost of 10,000 miles per year, because there are a lot of other things in play as well. To further address premium adjustments. Consider this: Even if your liability coverage did scale with perfect correlation to your mileage (using the same 70% from above, 7,000 miles per year versus 10,000 miles per year) then your premium composition is: $200 to $170 is 15%. No change will have a direct linear correlation to your total premium because there are different component pieces of the total premium. Fixed costs may be built in to the amounts for other component pieces of the premium, for example maybe no line of coverage ever has a cost below $X. Obviously these numbers are all made up Additionally, and also less considered is the fact that your liability also scales because of a lot of factors that have nothing to do with you. It might be the other cars that are on the road, it might be that more densely populated areas have more fender benders. For example if you live in Beverly Hills you have a much higher likelihood of accidentally bumping a $70-$80-$90-$100k+ car than you do in say, rural Wisconsin. If your zip code is gentrifying and everyone starts buying Mercedes, your liability coverage increases. You can not adjust one single variable and decide that you are lower risk than all insurers think you are. If you shop this coverage and all insurers are within a nominal margin of pricing for the same coverage levels, there isn't much to argue with; you are simply riskier than you think you are and the variable you are focused on is not as meaningful as you think it is.",
"title": ""
},
{
"docid": "38c51f47de3332a794c3c1ced7280657",
"text": "Not all miles carry the same amount of risk. A survey by Progressive indicated that accidents are most likely to occur within 5 miles of home, and 77% of accidents occur within 15 miles of home. Only 1% of accidents occurred 50 or more miles from home. That's from 2002, but it seems unlikely to have changed much. Since the miles closest to your home carry more risk, they cost more, and low-mileage discounts reflect that. There are per-mile insurance options in a few states which could save you money, but they do constant monitoring via that ODB2 telematics device, and other insurers offer discounts if you accept their monitoring either in perpetuity or for a limited period of time. Without monitoring, insurers don't know if that 4,000 miles of driving is spread into a few mid-day trips each week, or maybe you're doing all that driving from midnight to 4am on weekends (fatalities far more likely), or from 5-7pm during weekdays (accidents far more likely). Personally, I save ~10% by being a 'low-mileage' driver, and am currently in the middle of a 90-day monitoring, so might go lower, but given that accidents are far more likely close to home, 10% feels pretty significant and appropriate.",
"title": ""
},
{
"docid": "b321056014fd09e629a859b0d265185f",
"text": "4000 miles a year is not a few! European average is about 9000... But nevertheless... But when it comes to risk, then: 1) Nothing stops you from changing circumstances and drive 10 times as much as in previous yers. The insurance remains the same. The only thing the insurance company can do is to charge you more next year (taking the miles you've made this year as a basis for calculations)* 2) Drivers who drive very seldom are a huge risk because of their low experience. I know a few people that drive more than 100 miles only a few times a year, and on average once a year have accident during that drives. It doesn't mean that an average sunday driver have similar risk of accident as daily driver, but it's in no way similar. *) Germany/Switzerland based, the whole EU is likely to be the same",
"title": ""
},
{
"docid": "6831bd88f8115a3ab7f894e2d6816b27",
"text": "Many services charge prices that do not scale linearly with usage. This is because the service provider has fixed costs that they must recoup by charging a rate with a fixed component. A 5-mile taxi ride is unlikely to cost half what a 10-mile taxi ride costs. Even a half sandwich at a sandwich place usually costs more than half of what a full sandwich costs. In this respect, insurance is no different from many other items you may purchase.",
"title": ""
},
{
"docid": "bf6049ea982c6dc34eeb8fa8d6e68ac1",
"text": "Some proportion of the costs of a policy have little to no relationship to miles driven. Think of costs of underwriting, and more especially sales/marketing/client acquisition costs (auto insurance isn't in the same league as non-term life insurance (where the commissions and other selling expenses typically exceed the first year's worth of premiums), but the funny TV ads and/or agent commissions aren't free), as well as general business overhead. Also, as noted by quid, some proportion of claim risk isn't correlated to distance covered (think theft, flood, fire, etc.). There are also differences in the miles that are likely to be driven by a non-commercial/vehicle-for-hire driver who puts 25k miles a year vs. one who puts 7k per year. The former is generally going to be doing more driving at higher speeds on less-congested freeways while the latter will be doing more of their driving on crowded urban roads. The former pattern generally has a lower expected value of claims both due to having fewer cars per road-mile, fewer intersections and driveways, and also having any given collision be more likely to result in a fatality (paralysis or other lifetime disability claims are generally going to exceed what the insurer would pay out on a fatality).",
"title": ""
},
{
"docid": "54cb10e07c7d5e2f9e9430a07dceecbf",
"text": "Other people lie to the companies about how many miles they drive, so they can't take the mileage figures literally. You aren't specifying whether you want liability only, or more-comprehensive insurance. Stuff happens when you aren't driving. Cars get stolen. Other drivers hit parked cars and leave. Trees fall on parked cars. Move to Virginia where insurance is not required. Just pay $500 a year for not having insurance, and be careful.",
"title": ""
},
{
"docid": "511d5d2b4fc64224de9fedfe7b7eb8a8",
"text": "First you have to understand that insurance is basically a social system, just with Shareholders. Insurance costs consist of 3 factors: Now, to encourage a low-risk behavior a separating factor is search in the vast amount of statistical data. Drivers experience, miles and type of car being the most common, but also other things like oldtimer-status etc. are possible. If it so happens that the 3-5000 miles driver do only in average have 80% of the damage-costs of a comparable group 5-8000 miles driver, you´ll get the 20% bonus on factor 1. So the answer is, it is not overpriced, there is just no linear relationship to mileage. You can´t divide your insureds in too many groups or you´ll miss the mutual aspect of insurance. If everybody just pays his own risk, he can just do so in his bank and save on overhead and profit.",
"title": ""
},
{
"docid": "989d1eda3fb85d73cf183ef03e5a7213",
"text": "There is plenty of over-rationalisation in the majority of these answers, when the simple answer is that it is simply down to statistics. Say an insurer had two pieces of information about two separate drivers: annual mileage, and whether they had had an accident in the last 3 years. Driver A drives 10,000 miles a year and hasn't had an accident in the past 3 years. Driver B drives 500 miles a year and hasn't had an accident in the past 3 years. Which would the insurer think was the safer bet? The answer is A, and this makes his premiums lower. The reason for this is that the insurer has a lot more data about Driver A than Driver B: they know that Driver A has driven 30,000 miles without having an accident. This could, of course, be luck, or a fluke, but it is likely that Driver A is actually a safe driver. The chance that Driver A hasn't had an accident just through sheer luck and that they are actually a terrible driver is quite slim. On the other hand, Driver B has only driven 1,500 miles in the past three years. Whilst this seems like prima facie evidence of them being as safe a driver as Driver A, it is much more likely that Driver B could have driven 1,500 miles and avoided an accident through sheer luck, even though they are a terrible driver. This means drivers who drive low amounts of mileage will be penalised relative to other drivers who have high mileage. It has nothing to do with insurers taking a judgement that 'doing more mileage makes you more experienced' or 'makes you a better driver' as others have suggested here (although, it is probably true - it's not quantifiable from an insurer's perspective).",
"title": ""
},
{
"docid": "28227bfd1d7cbffa4299c2300b4e3950",
"text": "because it cost the insurer more, obviously. while this sounds snarky, it's important to realize that actual insurance companies set their insurance rates based on actual historical costs. for some reason people who report low miles have cost the company more dollars per reported mile than people who report high miles. in that sense, insurance is not overpriced. if it were truly overpriced, then an insurer would specialize in such insurance and make a killing on the free market. the more interesting questions is why do drivers who claim to travel very few miles cost the insurance companies so much per mile? that question has a host of possible answers and it's difficult to say which is the largest cost. here are just a few:",
"title": ""
},
{
"docid": "3491f61b38a6415470586610f3170495",
"text": "\"One reason is because car insurance is mandated. Mandated insurance means the government is forcing people to purchase it, which also means that everyone must have the opportunity to purchase it at a reasonable cost, even if the insurer would normally not choose to insure them. In mandated industries, risk pools are formed which means that as a whole, lower risk members partially subsidize higher risk members. In mandated industries that have a large risk variance, the insurance system would break down if everyone was charged their \"\"fair share\"\" because high risk members would be unable to afford a policy. (This is even more prominent with health insurance than car insurance because the difference in risk is vastly greater.) On a positive note, perhaps you may get a warm and fuzzy feeling knowing that you are helping out others \"\"in need\"\".\"",
"title": ""
},
{
"docid": "322d5a6f7c2a8f2b67dd39abd2e76531",
"text": "Insurance rates are about assessing risk. If the insurer has no way to reliably and easily assess usage, they will not reduce the premiums. Many companies are providing tracking devices that connect to the OBD-II port. This not only tracks actual miles driven, but can typically track aggressive driving, time of day, length of trips, and other information. Unless you are using this kind of device to give the insurer actionable feedback on your driving habits, do not expect any discounts for mileage or usage.",
"title": ""
},
{
"docid": "b8a2ad4952560a7f99244e924ecf5f51",
"text": "People who drive long distances tend to do more of their driving on larger, well-built roads (freeways / motorways) that are designed for high-speed driving. Although some people find them intimidating, they are much safer in terms of accidents per kilometre driven for several reasons:",
"title": ""
}
] | [
{
"docid": "0f8d360bbfa515fcd8bcf8cda182b071",
"text": "As a recent college grad who switched to his own car insurance, many of the things I did myself are reflected here. The #1 thing I did was find out what coverages I had, what coverages some friends of mine had (car enthusiasts mostly - they're the most informed on this stuff), and then figured out what kind of coverages I wanted. From there, I went around getting quotes from anyone and everyone and eventually built out a sizeable spreadsheet that made it obvious which company was going to offer me the best rate at a given coverage level. Something else to remember - not all insurance companies look at past accidents and violations (speeding, etc) the same. In my search, I found some have a 3-year scope on accidents and violations, while others were as much as 5 years. So, if your driving record isn't a shining example (mine isn't perfect), you could potentially save money by considering insurance through a company that will see fewer violations/incidents than another because of the size of their scope. I ended up saving $25/mo by choosing a company that had a 3-year scope, which was on the cusp of when my last violation/incident occurred. Insurance companies will also give out discounts for younger drivers based on GPA average. If you have kids and they maintain a high GPA, you might be able to get a discount there. Not all companies offer it, so if they do it's worth finding out how much it is",
"title": ""
},
{
"docid": "3b2684744c9a4f150f9725871ea78493",
"text": "\"Ok sure, your homeowners insurance now includes all those things. Floods, hurricanes, terrorism... its also now twice the price. You're on /r/finance, not /r/politics. You should understand that you pay a premium for every risk that you off-lay. It is well known that basic homeowners insurance does not cover floods. If you want it, you can get it. Most people in a non flood-prone area will say, \"\"I'm willing to take that risk, I'll save $500/yr and not get it\"\". Would you rather the government just force you to get it? You just complained about Auto Insurance \"\"forcing\"\" you to get uninsured driving insurance. You can't have it both ways.\"",
"title": ""
},
{
"docid": "77f7e72273bf30849e09ae4ec0003759",
"text": "Every insurance company has a pricing factor for every car they insure that along with factors about the driver is used to set rates. The story was that AAA was adjusting it's factor for Tesla models. Insurance companies do this all time as they collect more data. This is only news because people like to talk about Tesla.",
"title": ""
},
{
"docid": "3a2d0cb962219105b787335a74806013",
"text": "\"Discussions around expected values and risk premiums are very useful, but there's another thing to consider: cash flow. Some individuals have high value assets that are vital to them, such as transportation or housing. The cost of replacing these assets is prohibitive to them: their cashflow means that their rate of saving is too low to accrue a fund large enough to cover the asset's loss. However, their cashflow is such that they can afford insurance. While it may be true that, over time, they would be \"\"better off\"\" saving that money in an asset replacement fund, until that fund reaches a certain level, they are unprotected. Thus, it's not just about being risk averse; there are some very pragmatic reasons why individuals with low disposable income might elect to pay for insurance when they would be financially better off without it.\"",
"title": ""
},
{
"docid": "c73e81e82c0d59a519f5f9f268ff482b",
"text": "You're trading a fixed liability for an unknown liability. When I graduated from college, I bought a nice used car. Two days later, a deer came out of nowhere, and I hit it going 70 mph on a highway. The damage? $4,500. If I didn't have comprehensive insurance, that would have been a real hit to me financially. For me, I'd rather just pay the modest cost for the comprehensive.",
"title": ""
},
{
"docid": "ff18c267ef3b0bfdff548a41b142920f",
"text": "\"Last week I bought a Toyota RAV4 XLE that comes with Driver Assist (will steer you car if you are not in the lane), stop the car is slower speed if you are about to hit another car or pedestrian, Radar to keep distance and avoid slowing cars in cruise control, automatic high beam, etc. I called my insurance and asked if there are any discounts for all these safety features. They said \"\"No!\"\", but I do get a discount of passive anti-theft which is now standard on almost every car. It will take the insurance industry 10 years to start giving discounts for this new safety devices... because, meanwhile, they don't have to give discounts and keep all the money.\"",
"title": ""
},
{
"docid": "121b78600c056243d50d16e83fcf7327",
"text": "\"Personally, I would: a) consider selling the car and replacing it with a 'cheaper' one. If you only drive it once a month, you are probably not getting much 'value' from owning a nice car. b) move the car (either current or replacement) out to your parent's place. The cost of a plane ticket is about the same as the cost of the garage, and your parents would likely hold on to it for free (assuming they live in the suburbs, and parking is not an issue) option b should lower your insurance costs (very low annual mileage) and at least you'll get some frequent flier miles out of your $350 a month. That being said: this is a \"\"quality of life\"\" issue, which means that there isn't going to be a firm answer. If you are 25, have little debt, which you are paying off on time, have an emergency fund, and you are making regular contributions to your 401k, you are certainly NOT \"\"being seriously irresponsible\"\" by owning a nice car. But you may decide that the $1000 a month could be better spent somewhere else.\"",
"title": ""
},
{
"docid": "5dc0a3dea63d8bb1ed57dea1db6825d4",
"text": "\"Insurance rates are based on statistics manipulated by experts in actuarial \"\"science\"\". Actuaries look at how many times different makes and models get into accidents or are targeted by thieves, and how expensive it is to repair them. Many auto and finance sites will publish lists of the best and worst insurance risks. Family style cars like minivans and family sedans fair well, while sports cars get more expensive insurance. New models will get the risk of similar models until there is statistical data on them. One other take away from this discussion is that inexpensive insurance usually coincides with cheap repair costs, lowering your total cost of operation for your vehicle.\"",
"title": ""
},
{
"docid": "ddbbf8d6d4092253f402b9c9f87cdc87",
"text": "Some countries don't have robust life insurance markets. Some countries have horrible travel fatality statistics. Some countries don't have very good liability law enforcement. Is $2 on top of a train ticket in the US to send your family a $20,000 payment if you die on the train worth it, probably not. The fatality rate is pretty low here, lots of people have their own life insurance, and the US justice system carries a big liability stick. If you're moving around on trains a lot in other countries where the fatality rate is much higher, you can't buy life insurance on your own, and the legal system doesn't punish negligent operators it might be meaningful, especially for frequent travelers who have dependents. Is buying this coverage a reasonable and cost effective way to insure a person's life, no, clearly not. You're buying a policy to insure your life against being mauled by tiger in New York on a Tuesday, when you've never seen a tiger and don't live in New York. Obviously, if you want life insurance you would not buy coverage this narrow. Personally, I think this is really akin to an impulse buy candy bar at a checkout line of a market. They're dangling this in front of you for an amount of money that's insignificant because some people will pick it up without thinking about it. They're tickling your fear of death just enough to get a dollar from you, but not enough to keep you off the train. And obviously the math works out for the insurer or it would not be offered. Separately, regarding probability, it's not about an incident occurring in a train, it's an incident occurring in this particular train on this particular day/time. If there's a 1 in 10,000 chance of dying on a train in a year the chance of dying on a particular train on a particular day is likely to be one in billions or more. This really isn't about whether or not this coverage is valuable given the risk, it's about whether or not they can get you to impulsively spend a dollar.",
"title": ""
},
{
"docid": "0559c1e632f653f0a26df0e3ab9f4c5e",
"text": "\"For a car, you're typically compelled to carry insurance, and picking up \"\"comprehensive\"\" coverage (fire, theft, act of god) is normally cheap. If the car was purchased with a loan, the lender will stipulate that you carry comprehensive and collision insurance. People buy insurance because it limits their liability. In the grand scheme of things, pricing in a fixed rate of loss every year (insurance premium + potential deductible) is appealing to many versus having to cover a catastrophic loss when your car is wrecked or stolen.\"",
"title": ""
},
{
"docid": "f88b531c04cf735b69ff3d560e1167c4",
"text": "It's definitely broken window fallacy. The entire premise is that vehicle accidents cost money and productivity. If they can be avoided, we will be more productive. If we had technology that made car insurance obsolete, everyone in that industry could do another productive activity. Textbook broken window fallacy.",
"title": ""
},
{
"docid": "2f4bc315f09f7f8e774ac7636da8583a",
"text": "\"One way to look at insurance is that it replaces an unpredictable expenses with a predictable fees. That is, you pay a set monthly amount (\"\"premium\"\") instead of the sudden costs associated with a collision or other covered event. Insurance works as a business, which means they intend to make a substantial profit for providing that service. They put a lot of effort in to measuring probabilities, and carefully set the premiums to get make a steady profit*. The odds are in their favor. You have to ask yourself: if X happened tomorrow, how would I feel about the financial impact? Also, how much will it cost me to buy insurance to cover X? If you have a lot of savings, plenty of available credit, a bright financial future, and you take the bus to work anyway, then totaling your car may not be a big deal, money wise. Skip the insurance. If you have no savings, plenty of debt, little prospects for that improving, and you depend on your car to get to work just so you can pay what you already owe, then totaling your car would probably be a big problem for you. Stick with insurance. There is a middle ground. You can adjust your deductible. Raise it as high as you can comfortably handle. You cover the small stuff out of pocket, and save the insurance for the big ticket items. *Insurance companies also invest the money they take as premiums, until they pay out a claim. That's not relevant to this discussion, though.\"",
"title": ""
},
{
"docid": "f207b1fabaab64de5b09fc60b0203498",
"text": "Probably my biggest cost saving is to make my own sandwiches for lunch. I take this one step further by buying joints of meat to roast and slice for the filling. This not only tastes better but is quite a bit cheaper. For example today I roasted a 5 kg ham (about 11 lbs), it cost me £16 to buy (around $25), but I've sliced it, wrapped the slices in foil and frozen them. I've made around 20 packs, each pack has enough ham for sandwiches for me and my wife for a day. I also do this with beef, chicken and turkey and just get a pack of whatever we fancy out of the freezer the night before so it's defrosted enough to make sandwiches in the morning.",
"title": ""
},
{
"docid": "ac145b29c1352292bd93ef0115a4afbb",
"text": "The donor might need to pay gift tax if they give money directly to you. Paying the tuition on your behalf (giving the money directly to the school) is exempt from gift tax. But that's not your problem, it is the donor's. There's no tax on receiving gifts, and you're not forbidden to receive gifts by virtue of being on a visa.",
"title": ""
}
] | fiqa |
358ccd45afeaf1f9bb8bc4789b143543 | Insurance company sent me huge check instead of pharmacy. Now what? | [
{
"docid": "af1106a29d58d5538e4e2baea1dc30ea",
"text": "The insurance company issued the check. I'd contact the insurance company to have the current check voided and a new one issued to the pharmacy.",
"title": ""
},
{
"docid": "2dbf908577422d9e9844958a62782629",
"text": "Checks are awesome things in that, even if it gets lost the money doesn't change hands until the check is cashed. I would highly recommend NOT signing a check over and putting it in the mail though. Essentially putting your signature on it is saying yes, pay to whomever. Theoretically acceptable, rarely a good idea. Call the insurance company and have them cancel current check to reissue to the correct people. Don't forget to write VOID (in huge letters) on the check before throwing away and/or tearing it up.",
"title": ""
},
{
"docid": "c472e28a902255d7f3e8918550a37e7f",
"text": "Option 4: Go talk with someone in person at an office of the Insurance company. They have helped me several times with things like this. They can get everyone involved on a conference call and make something happen. But you have to go in. Calling is a good way to waste time and get nowhere, they will throw the issue back and forth. Find an office and go. This is the most effective solution.",
"title": ""
},
{
"docid": "608ef839a75b4a9d959fb21bd1c79110",
"text": "So: What you do:",
"title": ""
},
{
"docid": "ec5f508e7f500cdad2d26fd1adf49a37",
"text": "Deposit check and send a personal check (resulting in tax and IRS reporting issues) That's a bad idea, unless maybe the check you're receiving is a certified bank draft. Suppose the insurance company are crooks and the check is fraudulent. It could take weeks or months for some investigation to catch up to that, long after your own personal check was cashed by the pharmacy. The bank will then put you on hook for the 20 grand by reversing the check, even though the funds had been deposited into your account. Do not put yourself into the position of a money handler; you don't have the cash base, insurance, government protection and whatever else that a bank has. And, of course, you're being a free money handler if you do that. (You're not even compensated for postage, time and whatnot). If you're handling money between two parties, you should collect a percentage, or else refuse. That percentage has to be in proportion to the risk, since cashing a check for someone carries a risk similar to (and is effectively a form of) making a loan.",
"title": ""
},
{
"docid": "857974453afa724ad8ac67c7e3956c66",
"text": "In one of your comments you say: Even if the pharmacy is not in the insurance provider network? This is why you got the check instead of your insurance company. I have Blue Cross/Blue Shield, and recently my wife underwent a procedure in the hospital, where one of the physicians involved was not in my providers network. I got a letter from the physicians office stating that since they are out of network, the standard practice was for BCBS to issue the check to me, rather than to the provider. I received the check and made the payment. The main contention is the difference in price, and that is what you need to discuss with both the pharmacy (actual billing) and your insurance company (paid benefits).",
"title": ""
},
{
"docid": "2765e690af1f88102daa11d29be4a1f0",
"text": "You mentioned depositing the check and then sending a personal check. Be sure to account for time, since any deposit over $10,000 the money will be made available in increments, so it may take 10-14 days to get the full amount in your account before you could send a personal check. I would not recommend this option regardless, but if you do, just a heads up.",
"title": ""
},
{
"docid": "d41d8cd98f00b204e9800998ecf8427e",
"text": "",
"title": ""
},
{
"docid": "1d260f2a8ecc297314ac859d57166400",
"text": "\"This is not a mistake. This is done for \"\"Out of Network\"\" providers, and mainly when the patient is an Anthem member, be it Blue Shield or Blue Cross. Even though an \"\"Assignment of Benefits\"\" is completed by the patient, and all fields on the claim from (CMS1500 or UB04) are completed assigning the benefits to the provider, Anthem has placed in their policy that the Assignment of Benefits the patient signs is null and void. No other carrier that I have come across conducts business in this manner. Is it smart? Absolutely not! They have now consumed their member's time in trying to figure out which provider the check is actually for, the member now is responsible for forwarding the payment, or the patient spends the check thinking Anthem made a mistake on their monthly premium at some point (odds are slim) and is now in debt thousands of dollars because they don't check with Anthem. It creates a huge mess for providers, not only have we chased Anthem for payment, but now we have to chase the patient and 50% of the time, never see the payment in our office. It creates more phone calls to Anthem, but what do they care, they are paying pennies on the dollar for their representatives in the Philippines to read from a script. Anthem is the second largest insurance carrier in the US. Their profit was over 800 million dollars within 3 months. The way they see it, we issued payment, so stop calling us. It's amazing how they can accept a CMS1500, but not follow the guidelines associated with it. Your best bet, and what we suggest to patients, either deposit the check and write your a personal check or endorse and forward. I personally would deposit the check and write a personal check for tracking purposes; however, keep in mind that in the future, you may depend on your bank statements for proof of income (e.g. Social Security) and imagine the work having to explain, and prove, a $20,000 deposit and withdraw within the same month.\"",
"title": ""
}
] | [
{
"docid": "9b677bf9fd32eb6bc39174c40ce70a5b",
"text": "If the hospital is run like hospitals in the US it can take a long time just to determine the bill. The hospital, Emergency room, ER doctors, surgeons, anesthesiologists, X-Ray department, pharmacy and laboratory are considered separate billing centers. It can take a while to determine the charges for each section. Is there an insurance company involved? When there is one involved it can take weeks or months before the hospital determines what the individual owes. The co-pays, coverages, and limits can be very confusing. In my experience it can take a few months before the final amount is known. You may want to call the hospital to determine the status of the bills.",
"title": ""
},
{
"docid": "1203172087dc797dbf83340a004bf503",
"text": "\"check the DATE OF SERVICE on all your invoices carefully. It's possible you actually DID pay already. Sometimes when a medical provider gets \"\"mostly\"\" paid by a third party insurer, they just drop the (small) remainder, as it's more cost than it's worth if it is a trivial amount. Alternatively, they wait until you show up for another office visit, and \"\"ding\"\" you then!\"",
"title": ""
},
{
"docid": "ed29c570eae7fb018586b19dfcde1b80",
"text": "\"This is really unfortunate. In general you can't back date individual policies. You could have (if it was available to you) elected to extend your employer's coverage via COBRA for the month of May, and possibly June depending on when your application was submitted, then let the individual coverage take over when it became effective. Groups have some latitude to retroactively cover and terminate employees but that's not an option in the world of individual coverage, the carriers are very strict about submission deadlines for specific effective dates. This is one of the very few ways that carriers are able to say \"\"no\"\" within the bounds of the ACA. You submit an application, you are assigned an effective date based on the date your application was received and subsequently approved. It has nothing to do with how much money you send them or whether or not you told them to back date your application. If someone at the New York exchange told you you could have a retroactive effective date they shouldn't have. Many providers have financial hardship programs. You should talk to the ER hospital and see what might be available to you. The insurer is likely out of the equation though if the dates of service occurred before your policy was effective. Regarding your 6th paragraph regarding having paid the premium. In this day and age carriers can only say \"\"no\"\" via administrative means. They set extremely rigid effective dates based on your application date. They will absolutely cancel you if you miss a payment. If you get money to them but it was after the grace period date (even by one minute) they will not reinstate you. If you're cancelled you must submit a new application which will create a new coverage gap. You pay a few hundred dollars each month to insure infinity risk, you absolutely have to cover your administrative bases because it's the only way a carrier can say \"\"no\"\" anymore so they cling to it.\"",
"title": ""
},
{
"docid": "fcc99ce53784564e60c8529112455a1e",
"text": "You seem overly fixated on dead tree documentation of purchases. They are deducting this from your account monthly - the mere fact that the money was taken is enough to prove in court that they have you on their books and to hold them to paying out said insurance. The email copies is actually a better way to organize receipts in most cases (can't be destroyed as easily, etc.) You can cancel the insurance - but don't just stop paying (you'd owe them money then). I foresee increasing difficulty navigating the 21st century for you unless you can get past this concern about physical receipts. I doubt other companies would do much better. FWIW, I live in the continental US. I don't know how different the Philippines is with regard to moving everything to digital",
"title": ""
},
{
"docid": "bbbeb5a0fef77fa10d779f442ce583e1",
"text": "You didn't buy it. Your mother did. You can try to cancel it if it was purchased in your name; if your mother purchased it she would have to cancel it. Either way, the company has done it's part by carrying you until that cancellation and you have no grounds for demanding a refund for time already covered. If your mother was spending your money, that is something you need to take up with her unless you want to bring charges against her for theft/fraud. If she was spending her own money, then you may want to talk to a lawyer about getting her declared incompetent so someone else can control her spending. But the money paid is probably gone. It isn't the insurance company's fault that you didn't want it doesn't, and if you don't bring charges you can't complain about their having accepted stolen money. Even if you do bring charges and win, it isn't clear you can get a refund. If you really want to pursue any of this, your next step is to talk to a lawyer.",
"title": ""
},
{
"docid": "8db1c181bc68dc201970efb4f4b3abab",
"text": "\"There's nothing you can do. If he has indeed deposited the check, it would appear on your account fairly quickly - I've never seen it taking more than 2-3 business days. However, a check is a debt instrument, and you cannot close the account until it clears, or until the \"\"unclaimed property\"\" laws of your state kick in. If he claims that he deposited the check, ask it in writing and have your bank (or the bank where it was deposited) investigate why it takes so long to clear. If he's not willing to give it to you in writing - he's likely not deposited it. Whatever the reason may be, even just to cause you nuisance. Lesson learned. Next time - cashier's check with a signed receipt. Re closing the LLC: if you're the only two partners - you can just withdraw yourself from the LLC, take out your share, and drop it on him leaving him the only partner. Check with your local attorney for details.\"",
"title": ""
},
{
"docid": "0d300a37caab11c1aad8bb3eaca7d4f2",
"text": "It's an over crowded boat I'm sure. She hasn't had insurance all year either. She switched departments at the end of last year and they said she had to wait for open enrollment to come around again. So it wasn't by choice that she's been uninsured. It really baffles me that her company, a healthcare provider, would let their employees go through this.",
"title": ""
},
{
"docid": "c4158d595a69b938712cdfcd60768492",
"text": "No you do not insure the cheque. A cheque is just standardized form that instructs a bank to transfer money. It is no more important than an ordinary letter. A cheque carries no commercial value, especially when it has a designated recipient. No mail insurance will cover the financial loss as a result of bank fraud. It is a kind of indirect loss. Just tell her to write your account number at the back of the paper, walk into your bank's branch and tell the teller to deposit it. There is no need of mailing.",
"title": ""
},
{
"docid": "28fbd6147331296e24091a48b5f615a7",
"text": "It is important to understand that when or before you received services from your medical provider(s), you almost certainly signed a document stating that you understand that you are fully responsible for the entire bill, even though the provider may be willing to bill the insurer on your behalf as a service. In almost all cases, this is the arrangement, so it is very unlikely that you will be able to dispute the validity of the bill, since you did receive the service and almost certainly agreed to be fully responsible for the payments. With regard to the discounts, your medical provides have likely contracted with your insurer to provide services at a certain price or discount level, so I would base all of your negotiations with the providers and/or the collectors on those amounts. They can't legitimately bill you for the full amount since you are insured by a company they have a contract with, and you are not self-pay/uninsured, and the fact that they haven't been paid by your insurer doesn't change that, because the discount likely depends on the contact they have with your insurer and not whether or not they are billed/paid by your insurer. Please note - this is a common arrangement, but I'd recommend that you verify this with your insurer. Unfortunately, payment in 90+ days is often typical by insurance standards, so it's not yet clear to me whether or not your insurer has broken any laws such as a Prompt Pay law, or violated the terms of your policy with them (read it!). However, you need to find out which claims rep/adjuster is handling your claims and follow up with them until the payments are made. It's not personal, so make this person's life miserable until it is done and call them so often that they know it's you by the caller ID. I would also recommend contacting the collector(s), and letting them know that you don't have the money and so will not be able to pay, provide them with copies of the EOBs that state that the insurance company plans to pay the providers, and then ignore their calls/letters until the payments are made. When they call, simply reiterate that you don't have the money and that your insurance company is in the process of paying the bills. You have to expect that you will be dealing with a low-paid employee that is following a script. You are just the next person on their robo-call list, and they are not going to understand that you don't have a pile of money laying around with which to pay them, even if you tell them repeatedly. Make sure that you at no point give them access to any of your financial accounts, such as a checking or savings account, or a debit card - they will access it and clean you out. It is likely that your insurance provider will pay the providers directly since they were likely billed by the providers originally. If the providers have sold the debt to the collectors (and are not just employing a collector for debt they still own), you may have to follow up with the providers as well and make sure that the collection activity stops, since the providers may also need to forward the payments to the collectors once they are paid by the insurance company. Of course, if the insurer refuses to pay the claims, at that point I would recommend meeting with a lawyer to seek to force them to pay.",
"title": ""
},
{
"docid": "c2b853fe46b7cbb9694b08f72eb9668b",
"text": "What would happen if you was to cash a check, didn’t realize it was to you and your finance company, take it to a local business that has a money center, they cash the check without even having you sign let alone having the finance companies endorsement on it . The money cleared my account like a couple months ago and it was just brought up now .. ? The reason why the check was made out the owner and the lender is to make sure the repairs were done on the car. The lender wants to make sure that their investment is protected. For example: you get a six year loan on a new car. In the second year you get hit by another driver. The damage estimate is $1,000, and you decide it doesn't look that bad, so you decide to skip the repair and spend the money on paying off debts. What you don't know is that if they had done the repair they would have found hidden damage and the repair would have cost $3,000 and would have been covered by the other persons insurance. Jump ahead 2 years, the rust from the skipped repair causes other issues. Now it will cost $5,000 to fix. The insurance won't cover it, and now a car with an outstanding loan balance of $4,000 and a value of $10,000 if the damage didn't exist needs $5,000 to fix. The lender wants the repairs done. They would have not signed the check before seeing the proof the repairs were done to their satisfaction. But because the check was cashed without their involvement they will be looking for a detailed receipt showing that all the work was done. They may require that the repair be done at a certified repair shop with manufacturer parts. If you don't have a detailed bill ask the repair shop for a copy of the original one.",
"title": ""
},
{
"docid": "cbd9dfe952f74b25dbcfbe52b673e532",
"text": "\"A day or so later I get an email from the mattress company where the rep informs me that they will need to issue me a paper check for the full amount and that I would have to contact Affirm to stop charging me. To which I rapidly answered \"\"Please confirm that with Affirm prior to mailing anything out. On my end the loan was cancelled.\"\" To which the rep replied \"\"confirmed. It has been cancelled.\"\" I think your communication could have been more explicit mentioning that not only was the loan cancelled, you got your initial payments. You have not paid for the mattress. The refund if any should go to Affirm. The Rep has only confirmed that loan has been cancelled. at what point, if any, am i free to use this money? I was planning to just let it sit there until the shoe drops and just returning. But for how long is too long? Sooner or later the error would get realized and you would have to pay this back.\"",
"title": ""
},
{
"docid": "1d2fefa7b803c708ff1d023b7780e877",
"text": "\"•Have you had any problems with bills not being paid? NO •If you had issues, were they addressed satisfactorily? Answer: A big issue that blindsided me: With my bank, the funds come out of my account right away, but the actual payment is done through a third-party service. On my bank's online site it appears that the payment has been made, but that does not necessarily mean that the intended recipient has cashed it. Looking online at my credit union's site is useless, because all I can tell is that the payment has been sent. The only way to verify payment is to contact the intended recipient. Or I may telephone the online bill pay representative at my bank/credit union, who has access to the third party service. If I do nothing, after 90 days, the check is void, at which time the third party service notifies the bank/credit union and the funds will eventually end up back in my account. I learned this today, after a third-party paper check to a health care provider was returned to me via mail by the recipient (because insurance had already paid and I did not owe them anything). The money was in the hands of the third-party service, not in my account, nor that of my credit union nor the recipient. At first my credit union told me that I would have to contact the third-party service myself and work it out. I said \"\"NO WAY\"\" and the credit union did get the money back into account the same day. This is a sweet deal for the third party, who has my money interest-free anywhere from a few days to three months. And risk-free as well, because the money goes directly from my account to the third party service.\"",
"title": ""
},
{
"docid": "cc7a6be9b8252d019482eb7a6c261482",
"text": "Look up escheatment. Companies that have unclaimed property are supposed to send it to your State government. They should have a unclaimed property department of some sort. In short, the company is going to have to pay either you, or your State (In Your Name) so they have to pay it either way. It would be easier for them to just give you new check. Expect them to give you some grief in verifying it has not been cashed and such... but if you have the original, in hand, it shouldn't be too bad. A 'Lost' check may be harder to get replaced. Not a lawyer, don't want to be.",
"title": ""
},
{
"docid": "b285e55976bdcb3fcc8739e2e1f1296e",
"text": "Long story short, 8% turned out to be the tipping point because it was the average subordination level of the A rated tranches of the subprime MBS bonds. The reason this was the magic number is because of the way bonds were placed during the period. Basically no end user wanted to take on the risk of buying below A-rated paper, so instead of being sold directly, these BBB rated and below bonds were re-packaged into CDOs and tranched off. Again, the higher rated paper was sold off to whomever, while the BBB and below stuff got reshuffled and repackaged into other CDOs or CDO^2 , further levering up the initial subprime bonds. Now, back to the magic 8% number. Remember how I said that 8% was the subordination level for the A rated subprime paper? The other way of saying that is once defaults reached 8%, the BBB and below tranches of the the MBS were completely wiped out. Since the CDOs were largely made up of these BBB and below MBS, once they started getting written down so did the CDOs. When the lower rated CDO tranches started to go, because they were also repackaged in the same way, it just continued the negative feedback loop and before long even the AA and AAA rated paper was seeing massive losses. As more and more supposedly safe paper started to get wiped out, highly leveraged CDS contracts started coming due, causing AIG (which had written contracts on over $500 billion in assets) to get downgraded by the rating agencies, putting it on the brink of going under. Because basically every major bank had exposure to AIG, had they gone under, the other banks would have all had to write down those contracts at the same time, essentially causing the entire financial system to collapse.",
"title": ""
},
{
"docid": "983d2b5de6ce0fa254f27f73d368e1d6",
"text": "No, I felt that's what aweraw was trying to say, but they were not doing a good job of it so I took a crack at it from my point of view. I see where you are coming from too. Really, I suspect if we all sat down and had to write a unified view of the role luck plays in our lives we would be surprised how much we agree. :)",
"title": ""
}
] | fiqa |
80a4b83db9333b7055867fcbdf99002e | Is it common in the US not to pay medical bills? | [
{
"docid": "dab361e12b44fd47f3a4e7acd01692be",
"text": "\"Is it common in the US not to pay medical bills? Certainly not. What some might do, however, is not pay them immediately, with the intent to negotiate them down or get them written off. You can also see if there's a discount for paying immediately - I've had moderate success with this, but it was during a time where we couldn't pay them all immediately, so I was more trying to figure out which ones to pay first rather than just haggling. The obvious risk is that they go to a collections agency and get reported as unpaid debt to your credit. I'm with you, however - it's a service that you received and it should be paid. I must precise that they are wealthy upscale members, who can afford paying these bills. Are you certain that they have large medical bills? I suppose it's possible that they have resources that can negotiate these on their behalf, or they don't care about the impact to their credit score. But to say \"\"no one is doing it here\"\" seems ludicrous.\"",
"title": ""
},
{
"docid": "bc143d63cb8050b104d6cce96934297c",
"text": "\"In addition to the good answers already provided, I want to point out that many (most?) providers will handle filing your health insurance claim for you even though it's really your responsibility. So here's how medical bills \"\"you don't have to pay\"\" might come about: * It's possible that your balance is $4, or $20, or $65, or even still $100 depending on your particular insurance plan. Whatever is left at this step is what you pay.\"",
"title": ""
},
{
"docid": "50914a59da2034bf9a541068c753dbb8",
"text": "There are some uniquely American issues in this question (and answer), but some general principles as well. Regarding the comment that you quoted, the context (some of which you excluded) needs some clarification.",
"title": ""
},
{
"docid": "7dc49b86aa304001fc0f24f29ec4a013",
"text": "\"Is it common in the US not to pay medical bills? Or do I misunderstood what had been said? I would feel comfortable saying that most people who face medical bills don't pay them. They are unable. If they were able, they would have gotten medical insurance. In America, something like 55% of individuals do not have even $500 of savings, so when a big medical bill rolls in especially on top of lost work hours, they don't have a lot of options. Hospitals charge reasonable prices to insurance companies and Medicare. These fees are negotiated in advance and reflect the hospital's actual costs. This is called \"\"usual, reasonable and customary\"\". Hospitals charge a wildly inflated, criminally outrageous \"\"cash price\"\" to the uninsured. For instance back when Medicare paid about $175 for an ambulance ride, a friend was billed $1100 for the exact same thing. The hospital aims to scare the living daylights out of the patient (caring nothing about what that does to their health!) Perfect world, the patient pays them the $1100 instead of paying their rent. If the patient puts up a fight, they hope to haggle them down to something like $400, remember it really costs $175. This tactic is a huge profit-center for hospitals, even the \"\"charity\"\" hospitals, and they feel justified because so many uninsured don't pay at all (the hospital considers them \"\"deadbeats\"\".) Well, patients don't pay because cash prices are unreachable, so they just give up. Anyway, your friends are correct, don't even think of paying those cash billing amounts. Research and find out what Medicare pays, offer 60% of that, and haggle it to 100%. And sleep well knowing you paid what is fair. Not all services are as overpriced as my example, but most are at least 50% too high. The hospital does send you all the bills as a formality, even while they submit them to your insurance company. And then the insurance company usually pays them, so it is correct to \"\"not pay that bill\"\". A lot of medical offices will check with your insurance company even before you leave the office, and ask you to immediately pay anything the insurance won't cover. For instance they often have \"\"co-pays\"\" where you pay $20 and they pay the rest. To be clear: if your insurance company negotiates a rate with the hospital, say $185 for the ambulance ride, that is your price, which you are entitled to as a member of that insurance system. A lot of people get their livelihood from the inefficiency in medical insurance and billing. Their political power is why it's so hard for America to install a simpler system (or even replace Obamacare in an ideal political environment). It is also a big part of why America spends 18% of GDP on healthcare instead of 7-11% like our European peers who do not have to account for every gauze or rebill multiple insurers. Sorting out \"\"who pays\"\" would be expensive even if everyone did pay.\"",
"title": ""
},
{
"docid": "ae9847620f3213addf4eb0a430052e7a",
"text": "Is it common in the US not to pay medical bills? Or do I misunderstood what had been said? There has definitely been a misunderstanding as it is not that common for people to not pay medical bills. Yes, there are those that cannot afford to pay them, and that does contribute to increasing prices, but overall people do pay. I think there is an aspect to this that has not been covered by the other two answers. What is common, at least in my experience, is that medical providers (i.e. doctors, hospitals, radiology, etc) are much more likely to work with you on establishing a payment plan than utilities, credit card companies, banks, etc are. This is different than holding off payment in the hopes of negotiating a reduction in payment. I am speaking of paying the total amount, but over multiple payments, and without a penalty for paying over multiple payments. And usually they will ask you what you can afford. If you can pay $50 per month, likely that will work. And even what I do that and call to pay the monthly amount, they will ask if I will pay that or some other (including lesser) amount. Also, if I skip a month (usually from forgetting, not intentionally) there is again no additional fee. This doesn't cover ALL providers, but so far has been consistent across all of the ones I have used. I suspect this is what your colleagues were referring to.",
"title": ""
},
{
"docid": "168aedc76748a869f5c5ba50a55620df",
"text": "\"What you have here is an interesting argument. Right now, this is totally complicated by the state of \"\"forced insurance\"\" that is currently in such hot debate right now. As a general rule of thumb though, most Americans pay their medical bills in one way or another. Though It is also accurate to say that most Americans have avoided paying a medical bill at one point or another. I will give an example that will help clarify. My wife gets a Iron infusion shot one every year or so. We choose not to have insurance. The cost to us is around $275. We know this upfront and have always paid it up front. Except for one year. One year we had insurance. The facility that does the infusions charged us $23,500 to do the infusion that year. The insurance paid $275 to them. We refused to pay the remaining $23,225. This is a real example using real numbers. SO while we are more then able to pay the \"\"normal\"\" amount, and we could, in theory, pay the inflated amount, We out right refuse to. The medical facility tried to negotiated the amount down to $11,000 but we refused. They then tried to talk us into a credit plan. We refused. Then they negotiated the entire thing down to $500. We refused. Finally, after 2 years of fighting they agreed that the service had been pair for by the insurance. And sent us a $0 bill. The entire time, that facility was more then willing to keep doing this annual service for $275.At no time were we denied care. We did have a dent in our credit for a while, but honestly it didn't matter to us. Wrap Up It is fair to say that most Americans do pay their medical bills, but it is also fair to say that most Americans do not pay all their medical bills. The situation is complicated, and made more so by recent changes. Heath insurance is the U.S. is nearly criminal and while some changes have been made in recent years the same overriding truth exists. Sometimes, a medical bill, when going through insurance, is just plain silly, and the only recourse you have as a customer is to not pay it, for a while, till you get it sorted out.\"",
"title": ""
},
{
"docid": "c6b09a1c18842ba3d64088cabe20f311",
"text": "Personal story here: I ended up at the Santa Monica hospital without insurance and left with a bill of $30k-$35k. They really helped me, so I felt like I had a duty to pay them. However, close inspection revealed ridiculous markups on some items which I would have disputed, but I noticed that I had been billed for a few thousands of services not rendered. I got very mad at them for this, they apologized, told me they'd fix it. I never heard back from them and they never put it in collection either. I'm assuming they (rightfully) got scared that I'd go to court and this would be bad publicity. Sometimes I feel guilty I didn't pay them anything, sometimes I feel like they tried to screw me.",
"title": ""
},
{
"docid": "80f78b61371b67030b05546eb0107e15",
"text": "\"My answer might be out of date due to the Affordable Health Care law. I will answer for the way things were prior to that law taking effect. In my experience, hospitals have a financial assistance program you can apply for. If you can show a financial need, the hospital will only charge you a certain percentage of your bill. A person with a very low income will likely only be charged 5 or 10% of the theoretical balance. That would be assuming the person is at or near the poverty level (which has an official definition -- but to give you an idea, your cashier at McDonald's is probably at or near the poverty level). Also note that sometimes it takes a while for hospital charges to be submitted to insurance, and to be approved and paid. Thus, many people have learned through experience to ignore the first bill that comes in from a hospital, and wait a month before paying. There can be a dramatic drop in the \"\"What you owe\"\" line after the insurance company responds, and the billing office adjusts the bill to the negotiated amount and subtracts off what the insurance company covered.\"",
"title": ""
},
{
"docid": "30a180cd9b818c590b14f79075c6a368",
"text": "\"While it is not common, it is also not \"\"uncommon.\"\" A subtle distinction. If you are poor, you almost certainly get some kind of government assistance (not even talking about Obamacare or Trumpcare, but just general assistance.) If you are middle class or rich, that is where you get hit the most. They seem to realize you \"\"can't get blood from a stone\"\" and don't try to get payment out of poor people. But middle class and rich people, yes it just takes longer but they do hang in there with billing. My own experience is that years and years ago (way before Obamacare) I had a time in the hospital with a lot of tests, but I was poor and sleeping on a relatives floor at the time. I got all the tests I needed, and they took great care of me, and the hospital wrote it off as \"\"charity care.\"\"\"",
"title": ""
}
] | [
{
"docid": "0f3cc07afc72563ecf7740e84bc54c8f",
"text": "Well, if someone who owes me money defaults, I lose the money he promised to pay me. To me that would be a huge moral obstacle for declaring myself bankrupt. I was raised in believing that you keep your promises.",
"title": ""
},
{
"docid": "6fcb9ea19ac55019088f4ce94c9dc824",
"text": "So how does that work when you're past retirement age? Do you just keep paying huger and huger sums for insurance, or are you covered by your pension plan (if you have one)? Or do Medicare and Medicaid cover everything (i.e. you don't have to pay)? In which case if you move to Latin America, you could get stuck with a big medical bill, but not if you stay in the States?",
"title": ""
},
{
"docid": "bfc26e9f5a92aec93619af2006865fbd",
"text": "The chronically ill should be seeking out charities not insurance companes. Since companies are into making profit and paying thier employees. While someone who is already fucked is a hugely bad bet for a new client. I'ts nothing personal just the way things are. Your rights end where someone else's rights begin. Meaning you can't force other people to pay your way through life. As much as being able to breath is an achievement for some it does't entitle people to a free ride at someone else's expense.",
"title": ""
},
{
"docid": "6767c66274c2315423cadd3711bfb23c",
"text": "I would say generally, the answer is No. There might be some short term relief to people in certain situations, but generally speaking you sign a contract to borrow money and you are responsible to pay. This is why home loans offer better terms then auto loans, and auto loans better than credit cards or things like furniture. The better terms offer less risk to the lender because there are assets that can be repossessed. Homes retain values better than autos, autos better than furniture, and credit cards are not secured at all. People are not as helpless as your question suggests. Sure a person might lose their high paying job, but could they still make a mortgage payment if they worked really hard at it? This might mean taking several part time jobs. Now if a person buys a home that has a very large mortgage payment this might not be possible. However, wise people don't buy every bit of house they can afford. People should also be wise about the kinds of mortgages they use to buy a home. Many people lost their homes due to missing a payment on their interest only loan. Penalty rates and fees jacked up their payment, that was way beyond their means. If they had a fixed rate loan the chance to catch up would have not been impossible. Perhaps an injury might prevent a person from working. This is why long term disability insurance is a must for most people. You can buy quite a bit of coverage for not very much money. Typical US households have quite a bit of debt. Car payments, phone payments, and either a mortgage or rent, and of course credit cards. If income is drastically reduced making all of those payments becomes next to impossible. Which one gets paid first. Just this last week, I attempted to help a client in just this situation. They foolishly chose to pay the credit card first, and were going to pay the house payment last (if there was anything left over). There wasn't, and they are risking eviction (renters). People finding themselves in crisis, generally do a poor job of paying the most important things first. Basic food first, housing and utilities second, etc... Let the credit card slip if need be no matter how often one is threatened by creditors. They do this to maintain their credit score, how foolish. I feel like you have a sense of bondage associated with debt. It is there and real despite many people noticing it. There is also the fact that compounding interest is working against you and with your labor you are enriching the bank. This is a great reason to have the goal of living a debt free life. I can tell you it is quite liberating.",
"title": ""
},
{
"docid": "946ea126eae0ed43396aa7a733be9258",
"text": "From accounting perspective, an unpaid bill for internet services, according to the Accruals Concept, is recorded as a liability under 'Current Liabilities' section of the Balance Sheet. Also as an expense on the Income Statement. So to answer your question it is both: a debt and an expense, however this is only the case at the end of the period. If you manage to pay it before the financial period ends this is simply an expense that is financed by cash or other liquid Asset on the Balance Sheet such as prepayment for example. For private persons you are generally given some time to pay the bill so it is technically a debt (Internet Provider would list you as a debtor on their accounts), but this is not something to worry about unless you are not considering to pay this bill. In which case your account may be sold as part of a factoring and you will then have a debt affecting your credit rating.",
"title": ""
},
{
"docid": "002bc0e97dc0f7a08d8664f78cb9936f",
"text": "\"This is the best tl;dr I could make, [original](http://www.marketwatch.com/story/one-third-of-american-households-cant-afford-food-shelter-or-medical-care-2017-09-27) reduced by 63%. (I'm a bot) ***** > Nearly half of Americans have a tough time paying their bills, and over one-third have faced hardships such as running out of food, not being able to afford a place to live, or not having enough money to pay for medical treatment. > The State of the American Wallet shows how Americans are saddled with mounting car loan and credit card debt and not saving enough money - even enough to cover emergency expenses. > The survey included questions on whether respondents could &quot;Enjoy life&quot; because of the way they managed their money, and how often respondents had money left over at the end of the month. ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/75tq9p/onethird_of_american_households_cant_afford_food/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ \"\"Version 1.65, ~226611 tl;drs so far.\"\") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr \"\"PM's and comments are monitored, constructive feedback is welcome.\"\") | *Top* *keywords*: **survey**^#1 **American**^#2 **respondent**^#3 **money**^#4 **how**^#5\"",
"title": ""
},
{
"docid": "1e54da946f158dff2b3beccc869d2131",
"text": "It's not that they don't want to pay it, it is that there is now an economic incentive to do it. People can no longer be turned down because of a preexisting condition. That means that I should wait until I break my arm to sign up for insurance. Then once it's better I should cancel it again. That is simply what makes sense economically. Only people who are sick need insurance if sick people cannot be turned down",
"title": ""
},
{
"docid": "ba805d1ca972d3c0cdcb02b3c855c3da",
"text": "Sorta. Though it's not every American - just the ones needing healthcare (don't know what percentage that is, but I have not seen a doctor in ten years). It IS enough to bribe the hell out of congress, though, and maintain the current system of keeping insurers between doctors and patients as parasitic gatekeepers.",
"title": ""
},
{
"docid": "57e1115d5f30efd13813bb51c89ac504",
"text": "Hey, I was thinking back to that X-Ray you got done at the hospital, that you said was cheaper than 90% of the population. I am wondering if maybe that hospital wasn't one of the many that qualify for DSH reimbursement payments. What could have happened is that they saw that you are uninsured, and made a decision that they would only charge you for the portion that they didn't think Medicare / Medicaid would reimburse. If that happened, it wouldn't even show up on your credit report, as the hospital is the one that would file a credit claim. Likely, if they have to go through this a lot, they wouldn't even waste time filing a credit claim, they would just go after a reimbursement through Medicare / Medicaid. And thus, to you, it would just look like a very small bill, but in reality it would only represent a smaller portion of the true bill. I would also wonder, if they do a lot of these, if they aren't also one of the hospitals that article I linked to showed was super-inflating the prices of uninsured in the hopes of getting a larger portion reimbursed.",
"title": ""
},
{
"docid": "18d9cbc00c698170d9acdf0c488dd88c",
"text": "If you read all that paperwork they made you fill out at the emergency room, there is probably something in there explicitly stating that you owe any bills you rack up regardless of what happens with the insurance company. They generally have a disclaimer that filing for you with your insurance company is a courtesy service they offer, but they are not obliged to do it. Ultimately, you are responsible for your bills even if the provider slow-billed you. Sorry.",
"title": ""
},
{
"docid": "f4eb5438cf48776641168740d3aaf6ac",
"text": "The main points shine a very bright light on the need for healthcare policy reform, FIR EVERYONE, not just the poor. - Using a conservative definition, 62.1% of all US bankruptcies in 2007 were medical. - Most medical debtors were well educated, owned homes, and had middle-class occupations. - Three-quarters **had health insurance**. - Illness and medical bills contribute to a large and increasing share of US bankruptcies.",
"title": ""
},
{
"docid": "d0639d406a8990b39b5ae168d9ebf638",
"text": "There no legal framework that allows states like the US or countries in Europe to default on their debt. Should congress pass a law to default the US supreme court is likely to nullify the law.",
"title": ""
},
{
"docid": "8ce2cb038987b99f545b6709add10e79",
"text": "\"This is only partly true. The main problem is that the average person is not a fully informed healthcare consumer. For example if you go to your local doctor with lower back pain: One doctor might prescribe a whole bunch of expensive diagnostics tests; another might tell you to go to a physiotherapist; and yet another might tell you to take some cheap pain killers and come back in six weeks time if nothing has changed. Most people will have no way of knowing which is the best course of action. Then, in a country like the US which is very litigiousness, all the doctors will recommend the most comprehensive and expensive care-package so that they don't get sued. Ultimately economists do not work in healthcare and are not qualified to recommend the best financial model for healthcare delivery. To quote Donney \"\"Who knew that healthcare was so complicated?\"\" certainly not the economists.\"",
"title": ""
},
{
"docid": "9a5895bc8c4b6bd307eaeb467bf56f4e",
"text": "You're not missing anything. Consumer protection in the US is very basic and limited, if at all. So if someone claims you owe them something, it would be really hard for you to prove otherwise unless you actually drag them to court. Especially if there actually was a relationship, and there probably is some paperwork to substantiate the claim. I suggest talking to a consumer issues attorney.",
"title": ""
},
{
"docid": "98f5a5c3112a53413b677af2502ccf97",
"text": "In short, no, or not retroactively. There really are multiple companies involved, each of which bills you separately for the services they provided. This can be partly avoided by selecting either a high-end health plan with lower out-of-pocket maximum, (costs more up front, of course) or by selecting a genuine Health Management Organization (not a PPO) which gathers more of the services into a single business. Either of these would result in fewer cash payments needing to be sent. But I don't know of any way to simplify things after the fact. Even if there was a consolidation service, you would have to forward the bills to them, which really wouldn't be any easier than just paying the bills. (I'm assuming you are in the US, where we have a health insurance system rather than a health system. Other countries may handle this differently.)",
"title": ""
}
] | fiqa |
37f2a0c41f0517dbaefd3c8782d37d64 | Why are capital gains taxed at a lower rate than normal income? | [
{
"docid": "1cce8697a1c37d9117ab570f6adfe51d",
"text": "I think this question is very nearly off-topic for this site, but I also believe that a basic understanding of the why the tax structure is what it is can help someone new to investing to understand their actual tax liability. The attempt at an answer I provide below is from a Canadian & US context, but should be similar to how this is viewed elsewhere in the world. First note that capital gains today are much more fluid in concept than even 100 years ago. When the personal income tax was first introduced [to pay for WWI], a capital gain was viewed as a very deliberate action; the permanent sale of property. Capital gains were not taxed at all initially [in Canada until 1971], under the view that income taxes would have been paid on income-earning assets all along [through interest, dividends, and rent], and therefore taxing capital gains would be a form of 'double-taxation'. This active, permanent sale was also viewed as an action that an investor would need to work for. Therefore it was seen as foolish to prevent investors from taking positive economic action [redistributing their capital in the most effective way], simply to avoid the tax. However today, because of favourable taxation on capital gains, many financial products attempt to package and sell capital gains to investors. For example, many Canadian mutual funds buy and sell investments to earn capital gains, and distribute those capital gains to the owners of the mutual fund. This is no longer an active action taken by the investor, it is simply a function of passive investing. The line between what is a dividend and what is a capital gain has been blurred by these and similar advanced financial products. To the casual investor, there is no practical difference between receiving dividends or capital gain distributions, except for the tax impact. The notional gain realized on the sale of property includes inflation. Consider a rental property bought in 1930 for $100,000, and sold in 1960 for $180,000, assuming inflation between 1930 and 1960 was 70%. In 1960 dollars, the property was effectively bought for 170k. This means the true gain after accounting for inflation is only $10k. But, the notional gain is $80k, meaning a tax on that capital gain would be almost entirely a tax on inflation. This is viewed by many as being unfair, as it does not actually represent true income. I will pause to note that any tax on any investment at all, taxes inflation; interest, for example, is taxed in full even though it can be almost entirely inflationary, depending on economic conditions. A tax on capital gains may restrict market liquidity. A key difference between capital gains and interest/rent/dividends, is that other forms of investment income are taxed annually. If you hold a bond, you get taxed on interest from that bond. You cannot gain value from a bond, deferring tax until the date it matures [at least in Canada, you are deemed to accrue bond interest annually, even if it is a 0 coupon bond]. However, what if interest rates have gone down, increasing the value of your bond, and you want to sell it to invest in a business? You may choose not to do this, to avoid tax on that capital gain. If it were taxed as much as regular income, you might be even more inclined to never sell any asset until you absolutely have to, thus restricting the flow of capital in the market. I will pause here again, to note that laws could be enacted to minimize capital gains tax, as long as the money is reinvested immediately, thus reducing this impact. Political inertia / lobbying from key interests has a significant impact on the tax structure for investments. The fact remains that the capital gains tax is most significantly an impact on those with accrued wealth. It would take significant public support to increase capital gain tax rates, for any political party to enact such laws. When you get right down to it, tax laws are complex, and hard to push in the public eye. The general public barely understands that their effective tax rate is far lower than their top marginal tax rate. Any tax increases at all are often viewed negatively, even by those who would never personally pay any of that tax due to lack of investment income. Therefore such changes are typically made quietly, and with some level of bi-partisan support. If you feel the capital gains tax rules are illogical, just add it to the pile of such tax laws that exist today.",
"title": ""
},
{
"docid": "49d4a2614ee3aaadcb147c53898312d4",
"text": "To me, the lower tax rate for capital gains is largely due to governments encouraging economic activity. Note that investments usually come from your normal income, which is already taxed. Capital gains tax is essentially punishing people who take the extra effort to put their money into work. If the tax rate is high, it would definitely cause people to rethink about investing, thus slowing the general economy down.",
"title": ""
},
{
"docid": "ef203ba39ef70e2829a933156dec62b9",
"text": "Were capital gains taxes not lower, companies would have an incentive to minimize the portion of the value they create that materializes as capital gains. They would do this by using more debt financing (since interest is deductible) than equity financing. This would have a destabilizing effect on the economy. Low capital gains taxes help encourage investment over spending. This is believed to improve economic growth. Given these factors, it is generally believed that the current capital gains tax rate is very close to the optimal rate. That is, a higher tax rate would not result in greater tax revenue. Bluntly, a higher income tax rate on earned income does not really discourage people from working harder and earning more money. But a higher rate on capital gains does discourage investment. Essentially, it's because investment is more discretionary.",
"title": ""
},
{
"docid": "68e53d9a0079ca173fdcebb3df94e18e",
"text": "Here are three key factors that you do not explicitly state: So while I cannot say exactly why the tax law is the way it is, I can infer that it encourages long-term investments rather than short-term, which would seem to be a good thing for society overall. The fast that capital gains are taxed at all somewhat discourages cashing out investments (although I suspect it's more of a nuisance factor - the cash received is likely more on an incentive that the tax is a disincentive).",
"title": ""
},
{
"docid": "575ab6f8302a708a31d8cc802c567c7f",
"text": "There are two alternative explanations: Choose the explanation you prefer based on your level of cynicism.",
"title": ""
},
{
"docid": "e412fe500295c444abe019618d6cf128",
"text": "Every economy wants growth and for growth to come you need investments. So, you must provide some motive for people to risk their money (every investment has inherently a degree of risk or if you want uncertainty about the outcome). As a result the tax on capital gains is lower than on other types of income (because the risk is almost zero). The tax is considered in the calculation of the net interest rate. And you can see this as the interest which the investors demand in order to invest their money.",
"title": ""
},
{
"docid": "16a624a10ee783824d9bef140250bf4d",
"text": "Consider inflation. If you invest $10,000 today, you need to make a few hundred dollars interest just to make up for inflation - if there is 3% inflation then a change from $10,000 to $10,300 means you didn't actually make any money.",
"title": ""
},
{
"docid": "fd9497f6f720d74c94f789669aa226c2",
"text": "There are many reasons, which other answers have already discussed. I want to emphasize and elaborate on just one of the reasons, which is that it avoids double taxation, especially on corporate earnings. Generally, for corporations, its earnings are already taxed at around 40% (for the US - including State income taxes). When dividends are distributed out, it is taxed again at the individual level. The effect is the same when equity is sold and the distribution is captured as a capital gain. (I believe this is why the dividend and capital gain rates are the same in the US.) For a simplistic example, say there is a C Corporation with a single owner. The company earns $1,000,000 before income taxes. It pays 400,000 in taxes, and has retained earnings of $600,000. To get the money out, the owner can either distribute a dividend to herself, or sell her stake to another person. Either choice leads to $600,000 getting taxed at another 20%~30% or so at the individual level (depending on the State). If we calculate the effective rate, it is above 50%! Many people invest in stock, including mutual funds, and the dividends and capital gains are taxed at lower rates. Individual tax returns that contain no wage income often have very low average tax rates for this reason. However, the investments themselves are continuously paying out their own taxes, or accruing taxes in the form of future tax liability.",
"title": ""
}
] | [
{
"docid": "d2223ba17e7bcf4a2a34b412079a6779",
"text": "This is how all corporations shift taxes to low income tax . Most large companies are actually hundreds of companies, with individual companies in each country they do business in. They use this type of transfer payment so most of the profits end up in countries with low income taxes. That is why you might as well lower the corporate rate. It will help employment, and end this kind of useless profit shifting. It's a world wide economy, and companies do what they need to do to keep taxes low no matter what.",
"title": ""
},
{
"docid": "d25c6859e23e7eb52e67298252c4a3d5",
"text": "I'm not sure where people keep getting this idea, but I see it come up a lot. Anyway, you pay capital gains taxes when you sell an investment that has appreciated. It makes no difference when/if you reinvest the money or what you invest it in. If you are afraid of the tax burden you can minimize it by: 1) Selling a stock that you have held longer than a year to get the lower long-term rate. 2) Sell a stock that hasn't appreciated that much and therefore doesn't have a lot of gains to tax. 3) Sell a stock that's below purchase price (i.e. at a loss) to offset any short term gains.",
"title": ""
},
{
"docid": "82656dc3612c08054841c7790d06bcbc",
"text": "This is ideal placement for your allocation to income investments or those with nonqualified dividends: bonds, REITS, MLPS, other partnerships, and so forth. These are all taxed at income rate, generally throw off more income than capital gains, so you get the deferment without losing the cap gains rate.",
"title": ""
},
{
"docid": "6f6c02737efba52705b611902380566b",
"text": "If you have flow through income then you arent being taxed at the corporate rate you are being taxed at your personal income tax rate which wont change so raising or lowering the corporate tax rate wont change that at all. Like he said tax rich people not corporations. If people just had a better understanding there wouldn't be really anybody opposed to it.",
"title": ""
},
{
"docid": "ccee1d130a4cefa6b31916dd78b4f0b3",
"text": "\"Appreciation of a Capital Asset is a Capital Gain. In the United States, Capital Gains get favorable tax treatment after being held for 12 months. From the IRS newsroom: Capital gains and losses are classified as long-term or short-term, depending on how long you hold the property before you sell it. If you hold it more than one year, your capital gain or loss is long-term. If you hold it one year or less, your capital gain or loss is short-term. The tax rates that apply to net capital gain are generally lower than the tax rates that apply to other income. For 2009, the maximum capital gains rate for most people is15%. For lower-income individuals, the rate may be 0% on some or all of the net capital gain. Special types of net capital gain can be taxed at 25% or 28%. The IRS defines a Capital Asset as \"\"most property you own\"\" with a list of exclusions found in Schedule D Instructions. None of the exclusions listed relate to Bond ETFs.\"",
"title": ""
},
{
"docid": "8cf8b0da9f9bd690eec82a6dad9df298",
"text": "You pay taxes on capital gains when you realize your gains by selling the investment property. Also, in the US, taxes on capital gains are computed at special rates depending on your current income level, and so when you realize your gains two years from now, you will pay taxes on the gains at the special rate then applicable to your income level for the year of sale. Remember also that the US Congress can change the tax laws at any time between now and the time you sell your stocks, and so the rates you are looking at now may have changed too.",
"title": ""
},
{
"docid": "aa2e95a05894c913e5027ada929a1564",
"text": "what I'm saying is my meager 1600 gain could have incurred an extra $170 in taxes if there was no capital gains tax. It's basic math, not rocket science. that's just the numbers at my current tax bracket(25%) which isn't that high. I seriously don't get how you can't understand basic numbers and the fact that the capital gains tax is a huge advantage for a small time investor like me.",
"title": ""
},
{
"docid": "14137eb112dfeae7d10fd3db3b31d49d",
"text": "I got down voted for my comment. But, this is exactly what a lot proponents of higher capital taxes argue. That, if you are not a hoarder of wealth; then, you should not worry about a high capital gains tax. And, again as the video clearly demonstrated. Capital gains prevent labor gains; where the lower and middle classes earn.",
"title": ""
},
{
"docid": "f72e4c4ced09e034dd3fe9a774d88945",
"text": "\"You're right. I did include \"\"is it reasonable\"\" in the title. Therefore that brings in the acceptability of those taxes. However I am making the case that I would like capital gains to be taxed most similarly to regular income (or at least in a parallel bracket), which is independent of the amount needed to be brought in. I think parallel brackets would be the most productive since it would encourage people to both produce and invest, because you would get the lowest taxes by maximizing both.\"",
"title": ""
},
{
"docid": "182b561785b6dbb85ff8bf140ba84456",
"text": "\"If you only have to pay 23k federal taxes on 100k, that means you are in the long term capital gains tax rate, which is the lower of the tax rates available. First you get your federal income tax marginal tax rate, and then find the matching long term capital gains tax rate. For example, if your marginal federal income tax rate is 28%, your capital gains tax rate would be 15%. Or rather, if the amount of the gain would put you in the 28% rate, then your long term capital gains tax rate is 15%. You can reduce that by having more losses. If you have anything else invested anywhere that is taking a loss, then you can sell that this year and it will offset the other gains you have realized. The only note is that your losses have to be long term capital losses too. Tax loss harvesting takes this to an extreme where you sell something at a loss to lock in the tax loss, but you didn't really want to get rid of that investment, so then you buy a nearly identical investment. ie. if you owned shares of \"\"Direxion Tech Sector ETF\"\" and it was at a loss, you would sell that and then immediately buy \"\"ProShares Tech Sector ETF\"\", the competing product that does the exact same thing. Then there is charity. This still requires spending money and you not having it any longer. If you feel that a cause can use the money more directly than the US government, you can donate an appreciated asset to the charity - not report a gain and also take a charitable deduction.\"",
"title": ""
},
{
"docid": "ec9e92e8583f6e3fb635b2d9b7fe7e8e",
"text": "\"I had been pondering this recently myself too. This question motivated me to do a little research. It appears that what happens is that (take a deep breath) the capital gain does push you into the next tax bracket, but the capital gain is always interpreted as the \"\"last\"\" income you received, so that if your non-capital-gains income is less than the threshold, it will all be taxed in the lower bracket, and only your capital gain will be taxed in the higher bracket (but it will be taxed at the capital-gains rate of that higher bracket). In short, a capital gain can only push capital gains into higher capital-gains tax brackets; it cannot push ordinary income into higher ordinary-income tax brackets. In addition, the amount of the capital gain is taxed in a marginal fashion, such that any portion of the gain that will \"\"fit\"\" into a lower bracket will be taxed at a lower level, with only the topmost portion of any gain being taxed at the top rate. This site is one claiming this: Will capital gain or dividend income push my other income into a higher tax bracket? No, the tax rates apply first to your “ordinary income” (income from sources other than long-term capital gains or qualifying dividends) so these items that are taxed at special rates won’t push your other income into a higher tax bracket. If my ordinary income puts me in the 15% tax bracket, can I receive an unlimited amount of long-term capital gain at the 0% rate? No, the 0% rate applies only to the amount of long-term capital gain and dividend income needed to “fill up” the 15% tax bracket. For example, if your ordinary income is $4,000 below the figure that would put you in the 25% bracket and you have a $10,000 long-term capital gain, you’ll pay 0% on $4,000 of your capital gain and 15% on the rest. There are several Bogleheads forum threads (here, here, here and here) that also touch on the same issue. The last of those links to the IRS capital gains worksheet. I traced through the logic and I believe it confirms this. Here's how it works: (In conclusion, we now know Mitt Romney's secret.)\"",
"title": ""
},
{
"docid": "40018b4c4e8dee5c8fc6aba5502f7493",
"text": "I suppose that there should be some sort of adjustment for inflation in the capital gains. That way those who exploit the short term volatility of the market and make money investing in real estate will be treated differently than the grandma who has lived in her house for 30 years. I guess that is why they call inflation the invisible tax.",
"title": ""
},
{
"docid": "0135bf2ab914c53905961d531f2b4ae1",
"text": "My understanding was that if they cash out they only have to pay capital gains tax on it, which is lower than income tax for their bracket. You also have to think about tax on dividends from these stock options, which is only 15%, which is paltry to regular incometax rate that the rich pay on their salaries. According to Wikipedia: Congress passed the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA), which included some of the cuts Bush requested and which he signed into law on May 28, 2003. Under the new law, qualified dividends are taxed at the same rate as long-term capital gains, which is 15 percent for most individual taxpayers Anyways, SOMETHING needs to be done.",
"title": ""
},
{
"docid": "187da176de28134ca36a1b9726d3e13a",
"text": "The shareholders have a claim on the profits, but they may prefer that claim to be exercised in ways other than dividend payments. For example, they may want the company to invest all of its profits in growth, or they may want it to buy back shares to increase the value of the remaining shares, especially since dividends are generally taxed as income while an increase in the share price is generally taxed as a capital gain, and capital gains are often taxed at a lower rate than income.",
"title": ""
},
{
"docid": "03d8f44f13ce913c119dcf7f6e146bcb",
"text": "\"It is important to remember that the stock price in principle reflects the value of the company, so the market cap should drop upon issuance of the the dividend. However, the above reasoning neglects to consider taxes, which make the question a bit more interesting. The key fact is that different investors are going to get taxed on the dividend to varying degrees, ranging from 20% for qualified dividends in the USA for a high-income individual in a taxable account (and even worse for non-qualified dividends) to 0% for tax-exempt nonprofits, retirement accounts, and low-income individuals. The high-tax investors are going to be a bit averse to paying tax on that dividend, whereas the tax-free investors are not. Hence in a tax-rational market the tax-free investors are going to be the ones buying right before a dividend and the tax-paying investors will be buying right afterwards. Tax-exempt investors could in principle make some amount of money buying dividends to keep them off the tax-paying investors' books. (Of course, the strategy could backfire if too many people did it all at once.) That said, the tax-payers have the tax disincentive to prevent them from fully exploiting the opposite strategy of selling just before a dividend. In particular, they are subject to capital gains tax when they sell at a profit (unless they have enough compensating capital losses), and it is to their after-tax profit to defer taxation by not trading. That said, the stock market has well-known irrationality when it comes to considering tax consequences, so logic based on assumed rationality of the market does not always apply to the extent one would expect. The foremost example of tax-irrationality is the so-called \"\"dividend paradox\"\", which basically states that corporations should favor stock buybacks (or perhaps loan repayment) to the complete exclusion of dividends because capital gains are taxed less harshly than dividends in a variety of ways, some of which are subtle: 1) Historically (although not currently in the USA for qualified dividends) the tax rate was higher for dividends. (In Canada, for example, dividends are taxed at twice the rate of capital gains.) 2) If you die holding appreciated stock then you (meaning your heirs) completely escape US the capital gains tax on the accrual during your lifetime. 3) Capital gains tax can be deferred by simply not selling. In comparison to dividends, this is roughly equivalent to getting a tax-free loan from the government which is invested for profit and paid at a later date after inflation has eaten away at the real value of the loan. For example, if all your stock investments increase by 10%/year but you sell every year, in a high-tax bracket situation you're total after-tax return will be only 8% per year. In contrast, if you hold the same investments for many many years and then sell, your total return will be nearly 10% per year, because you only pay 20% once (at the end). 4) A capital gain can often be neutralized by a capital loss in another stock, so that no tax results. If you loose money on a stock that is paying dividends, you're still going to have to pay tax on that dividend. There are companies that borrow money to pay out that taxable-dividend each quarter, which seems like gross tax malpractice on the part of the CFO. (If the dividend paradox doesn't make sense, first consider the case that you owned ALL the shares of a company. It wouldn't matter to you at all on a pre-tax basis whether you got a $1000 company buyback or a $1000 dividend, because after the buyback/dividend you'd still own the entire company and $1000. The number of shares would be reduced, but objecting that you owned fewer shares after the buyback would be like saying you have become shorter if your height is measured in inches rather than centimeters.) [Of course, in the case of many shareholders you can get burned by failing to sell into the buyback when the share price is too high, but that is another matter.]\"",
"title": ""
}
] | fiqa |
8de932ffe4020879ee6f6b0e4cec2585 | What assets would be valuable in a post-apocalyptic scenario? | [
{
"docid": "eb6cf381a81bcc5bf1f0ada803b42b6f",
"text": "Gold and silver are for after the crisis, not during. Gold and silver are far more likely to be able to be exchanged for things you need, since they are rare, easily divided, etc. Getting land away from where the crap is happening is also good, but it's more than that. Say you have land somewhere. How will the locals view you if you move there to hunker down only when things go bad? They won't really trust you, and you'll inherit a new set of problems. Building relationships in an off-the-beaten-path area requires a time investment. Investing in lifestyle in general is good. Lifestyle isn't just toys, but it's privacy, peace of mind, relationships with people with whom you can barter skills, as well as the skills you might think you'd need to do more than just get by in whatever scenario you envision. For the immediate crisis, you'd better have the things you'll need for a few months. Stores probably won't be supplied on any regular basis, and the shelves will be bare. Trying to use gold or silver during the crisis just makes you a target for theft. With regard to food, it's best to get acclimated to a diet of what you'd have on hand. If you get freeze-dried food, eat it now, so that it's not a shock to your system when you have to eat it. (Can you tell I've been thinking about this? :) )",
"title": ""
},
{
"docid": "575030f448925974f3fa677897b9fe52",
"text": "This is going to be a list of some things that will likely be of value immediately after some apocalyptic event. However, note that I am not answering your question of what you should invest in now to take advantage of such an event. That is a pretty ridiculous notion. Preparing oneself for such a possibility is certainly a good idea. That said, there are some realistic limitations to how you could take advantage of such a situation. Namely, the very real requirement of physical security. Unless you have a huge posse -- armed to the teeth -- to defend your cache, someone will come along with a bigger and better armed group to take it. (Not to mention that I am the type of person that would -- at least -- consider organizing such a group to take you down; if only as a matter of principle.) Guns & ammo (Also, knives; ideally ones that can be used as weapons and for food preparation/hunting.) Alcohol. Especially liquor. It's concentrated and easier to store than beer or wine. Beside for getting inebriated, it is useful as a sedative and antiseptic. Non-perishable foods. Canned goods are obvious. Though, grains and cereals can be stored with relative ease under some circumstances. (Obviously, not so easily done in an urban area.) Methods of starting a fire. Preferably rugged ones, such as flint and steel. (Lighters would only be of limited use. Matches are bulky and require water-tight storage.) Salt and/or salt-licks. (Possibly, other forms of non-perishable bait.) As bstpierre puts it, hunting will be about survival not sport. Hand-tools. Textiles, fabrics, thread and needles. Medicines of all sorts, though especially antibiotics, antiseptics and painkillers. Books of a practical nature. Topics such as: wilderness survival, cooking, carpentry, etc. The list is mostly ordered in terms of value & practicality. Ultimately, I doubt there is much that will provide a practical investment idea for such a scenario. The physical security issue is a big limiting factor. In a post-apocalyptic scenario it goes back to who is bigger, stronger and better armed. One thing does come to mind: knowledge. Prepare yourself with the skills and knowledge you need to survive in such a scenario and you will be invaluable. Also, as bstpierre notes in the comments, connections will likely also be important. (Probably local or nearby connections.) No one person can do it all alone. It will come down to cooperation.",
"title": ""
},
{
"docid": "7c77b5f83deb90b892d8f58e51b08249",
"text": "Bullets, canned goods, and farm supplies that don't need gas (e.g. seed, feed, plows).",
"title": ""
},
{
"docid": "07fc07ef99b20b8babc5659d64b930b9",
"text": "This is a long term investment but can be very useful during tough times. Be prepared not only to take but to give as well. Moreover:",
"title": ""
},
{
"docid": "894b7a0f3c3a8af10d0e9f07ae32fc46",
"text": "I find these type of questions silly, but I'll bite:",
"title": ""
},
{
"docid": "049304ac4dbd80b55fd4c9ef6e7bcf26",
"text": "Guns. Without them, any other conceivable asset would be taken from you. By someone with guns.",
"title": ""
},
{
"docid": "dd635c4552c760a3c33deb1f1b4ff579",
"text": "A book on the power of persuasion. The people will need you to lead them to the glory land like the Deacon* from Waterworld *Dennis Hopper. Study up.",
"title": ""
},
{
"docid": "ec6afc1397f4c85fbf66584762ce4b9e",
"text": "Apocalyptic like MAD MAX, huh? Well, no one so far has mentioned Gasoline, not paper gasoline futures but the real thing in barrels or tankers. Guns, ammo, sure... but if everyone on the ground is shooting each other I'd prefer an ultralight helicopter. You all have watched MAD MAX, right? On a more serious note, there is a country in the South Pacific that never saw fighting in world war 2 due to its remoteness, but is large and developed enough to be agriculturally pretty much self sufficient, and with a low population has plenty of space. Might be good to squirrel away something down there...",
"title": ""
},
{
"docid": "9c81a552c36f71fd5895519436975081",
"text": "Barton Biggs's book Wealth, War and Wisdom aims to answer the question of what investments are best-suited to preserving value despite large-scale catastrophes by looking at how various investments and assets performed in countries affected by WWII. In Japan, stocks and urban land turned out to be good investments; in France, farm land and gold did better. Stocks outperformed bonds in nearly every country. Phil Greenspun recently wrote a review of the book.",
"title": ""
},
{
"docid": "c69d09b34eabd583b8c1df493606605c",
"text": "Assuming that the financial system broke down, not enough supply of essential commodities or food but there is political and administrative stability and no such chaos that threatens your life by physical attacks. The best investment would then be some paddy fields, land, some cows, chickens and enough clothing , a safe house to stay and a healthy life style that enables you to work for food and some virtue at heart and management skills to get people work for you on your resources so that they can survive with you (may be you earn some profit -that is up to your moral standards to decide, how much). It all begins to start again; a new Financial System has to be in place….!",
"title": ""
}
] | [
{
"docid": "100c16089b98c6da4bdec9e3d52ba91b",
"text": "\"The raw question is as follows: \"\"You will be recommending a purposed portfolio to an investment committee (my class). The committee runs a foundation that has an asset base of $4,000,000. The foundations' dual mandates are to (a) preserve capital and (b) to fund $200,000 worth of scholarships. The foundation has a third objective, which is to grow its asset base over time.\"\" The rest of the assignment lays out the format and headings for the sections of the presentation. Thanks, by the way - it's an 8 week accelerated course and I've been out sick for two weeks. I've been trying to teach myself this stuff, including the excel calculations for the past few weeks.\"",
"title": ""
},
{
"docid": "332c7311f705acec1dd28a25e372bdce",
"text": "I'd have anything you would need for maybe 3-6 months stored up: food, fuel, toiletries, other incidentals. What might replace the currency after the Euro collapses will be the least of your concerns when it does collapse.",
"title": ""
},
{
"docid": "e8d5cf282efac11e79e96e042aacb9f1",
"text": "\"... until they collapse too!!! This is \"\"Luft Gesheft\"\": German/Yiddish for \"\"making money out of thin air\"\". Money should be made by making things and building things - adding value to something. Apple Computers is one example - they make real money.\"",
"title": ""
},
{
"docid": "ca0fd39e8414dd94c6d787fd00e425f7",
"text": "Taking into account your POV I would recommend mostly goods that will be harder to obtain, precious metals (not only gold) and forex (although the forex aproach depends on some other country not having troubles with it's own economy which in a world as interconnected as ours by internet and all the new technologies doesn't seem likely) i highly recommend silver which is cheaper than gold and is stable enough in the long term",
"title": ""
},
{
"docid": "5b61cd51d2cc4371f170a880274c6812",
"text": "Investing for your future through stocks isn’t for the faint of heart. While there are stocks that can withstand our volatile market, there are few that can guarantee their business will still be a business 20 or 30 years from now. [Compound Stock Earnings](http://www.compoundstockearnings.com) Report Benigans would always be with us, but they no longer exist.",
"title": ""
},
{
"docid": "5847f3eccb16327595bb29b661629dc5",
"text": "Cash can be a lifesaver after a natural disaster. I was in central Mississippi in 2005 after Katrina. There were a few things selling for cash only (generators for one). The banks opened pretty quick (1 day) where I was; south of me it took much longer (days or weeks).",
"title": ""
},
{
"docid": "ab8e2c4f62e90b429e52348b090e65d3",
"text": "\"First of all, metals are commodities. So if you're phrasing that as metals and/or commodities, then that's poorly worded. If you're phrasing that as \"\"metal commodity reports\"\" then say as such. Second, and more importantly: what commodities? Power is very different than coffee. Different places specialize in different things, all banks are good in some and weak in others. There's no generic \"\"commodity\"\" market but rather a huge range of specifically different products traded in the future.You learn more than a small fraction of this universe so pick one or two specific products from the macro buckets (i.e. energy, grains, metals) and focus on those.\"",
"title": ""
},
{
"docid": "8a577accc4d151f7a1e3550a1b212d49",
"text": "Vehicles (plural, because I'd be filling multiple roles, and also because I'd really prefer to have spare parts). Self-sufficient farm with machine shop, heavy-duty fabric production/sewing capacity. Hunting/camping gear. That kind of thing. I have about $600 in student loan debt remaining, which should be gone in the next year. No car loan (own my truck outright), don't own a house, carry 0 balance on my credit card. I suspect I'm a bit older than you (28) and I'm finding increasingly that I'm feeling financially strained by both current needs and projected needs. Moreso future than current, as a matter of fact, though I am unemployed right now. No matter how I look at it, barring some exceptional luck, there's no good way to obtain what I feel is needed to ensure that I can retire in safety. The current system basically forces you to take on nigh-crippling debt and hope like hell you can remain employed almost constantly through the most productive years of your life so that you may retire with some degree of security. 75K would make me feel a lot closer, but it only really deals with the immediate concerns and gives me room to hope to rectify the future ones in the next decade. If it were a completely foolproof 75K with no chance of vanishing, it'd go a lot further -- but still wouldn't alleviate my worries entirely.",
"title": ""
},
{
"docid": "0ff176eb7c422c1fc2cc9399e488d3c1",
"text": "I think what the person meant to say is that Gold is not a one stop solution. There's nothing wrong with having Gold in an otherwise diversified portfolio but you need to be aware about the potential downsides: The problem with gold is that its value nowadays depends mainly on investor confidence, or the lack of it (actual demand for gold cannot explain the rise in value gold had after the crisis). If people are afraid the world and currencies with it will go to hell, the gold price will go up. Why? Because if currencies seize to exist, Gold will still be accepted. It can replace currencies. What many people tend to forget: let's consider the extreme example and currencies really cease to exist and all hell breaks lose. What good are gold bars at the bank, or even at home, for that matter? You'll be better off with gold coins to use in barter and to pay off marauders. But that's not about investing anymore, that's survivalism.",
"title": ""
},
{
"docid": "b72db17639d8369ec3dcb5b7f060b69f",
"text": "\"Buying gold, silver, palladium, copper and platinum. The first two I am thinking about new currencies. The last three for the perpetual need for the metals in industry. I also have invested in Numismatic coins. They are small portable and easy to hide around the house. I only collect silver coins, so even if the world really blows up and numismatics goes out the window, I can depend on them forming a barter system through the content value of the silver. The problem with collectable items is that they are easy to see. For example, a nice painting just shouts out \"\"steal me!\"\". I don't buy large gold coins. As long as the coin is below 1/4 Oz gold I collect it. If the dollar does finaly collapse, to be honest it will be so bad that I think weapons will be order of the day. Do I think it will collapse...nah never.\"",
"title": ""
},
{
"docid": "3920dc7fad00ba1d6cb961f24716c96a",
"text": "Yes, because you cannot have an exponential growth rate that is faster than the rate at which the economy grows on the long term. 100% growth is much more than the few percent at which the economy grows, so your share in the World economy would approximately double every year. Today the value of all the assets in the World economy is about $200 trillion. If you start with an investment of just $1000 and this doubles every year, then you'll own all the World's assets in 37.5 years, assuming this doesn't grow. You can, of course, take into account that it does grow, this will yield a slightly larger time before you own the entire World.",
"title": ""
},
{
"docid": "bfb22c159524565b6c9b3c92161645a8",
"text": "\"In addition to the \"\"The Time Machine\"\"-type society you're talking about where the working class basically end up devolving into hunting game for elites, i'd worry that the enhancement for the skilled-labor jobs you describe would include some dog collars. If I'm an enhanced engineer I'll start my own company, not make money for someone else. If I'm a super soldier I'd hit up academi (blackwater), not get treated like shit in the army. If these technologies can enhance intelligence, it can probably also steer traits like loyalty, ambition, etc to ensure that the person acts more like an appliance rather than a genius.\"",
"title": ""
},
{
"docid": "648dc0f65d1f823e09181327ef4871ea",
"text": "I'm not sure I'd say the assets they had were worthless. One of the big controversies was whether it was a solvency crisis (bad assets) or a liquidity crisis (fine assets, but if everyone sells illiquid assets there's a fire sale problem). The US and Buffett bet it was a liquidity crisis, and they were proven right.",
"title": ""
},
{
"docid": "726fbdba1e79487a1d8064202473751e",
"text": "But how valuable is it in the Star Trek world? How much gold is available and how much do they need?Are there alternatives? Will they ever find another element that replaces it? These all affect the actual value... Nothing has value without demand, so how can anything be intrinsically valuable?",
"title": ""
},
{
"docid": "6d9723d9c0973eba47a049d0c9b17649",
"text": "Different risks require different hedges. You won't find a single hedge that will protect you against any risk. The best way to think about this is who would benefit if those events occurred? Those are the people you want to invest in. So if a war broke out, who would benefit? Defense contractors. Security companies. You get the idea. You also need to think about if you really need to hedge against those things now or not. For example, I wouldn't bother to hedge against global warming or peak oil. It's not like one morning you're going to wake up, turn on CNNfn and see that the stock market is down 500 points because global warming or peak oil just hit. These are things that happen gradually and you can react to them gradually as they happen.",
"title": ""
}
] | fiqa |
c6582f060a8115e8fedf24ae7b711477 | When will the U.K. convert to the Euro as an official currency? | [
{
"docid": "4918534ff779f1f19ed9ab1e18c78017",
"text": "\"I read an account of why the U.K. didn't end up with the euro as its currency in David M. Smick's great book The World Is Curved: Hidden Dangers to the Global Economy. Chapter 6 of the book is titled \"\"Nothing Stays the Same: The 1992 Sterling Crisis.\"\" Here's a very brief excerpt; emphasis mine: [...] As this story shows, such blindness to the realities of a changing world can be very dangerous. In this case, the result was the brutal collapse of the British pound, which explains why the British people still use their own currency, the pound or sterling, and not the euro. The events that unfolded in the autumn of 1992 were totally unforeseen, yet they reshaped the European monetary world and represent a phenomenon that continues to impact global economies. [...] Smick's account of the events around 1992 runs about 28 pages. Here's my version, in a nutshell: At the time, Britain was part of the European Exchange Rate Mechanism, or ERM. The belief in Europe was that by uniting currencies under a common mechanism, Europe could gain influence in international financial policy largely dominated by the United States. The ERM was a precursor to monetary union. The Maastricht Treaty would eventually create the European Union and the euro. Britain joined the ERM later than other nations, in 1990, and after some controversy. Being part of the ERM required member nations to agree to expand and contract their currencies only within certain agreed upon limits called currency bands. Due to the way this had been structured, Germany's strong position placed it at the top of the system. At some point in 1992, Germany had raised interest rates to curb future inflation. However, Britain wanted Germany to cut rates – Britain was not in as enviable a position, economically speaking, and its currency was under pressure. The currency band system would put Britain in a tighter spot with Germany raising rates. Enter George Soros, the Hungarian billionaire, a.k.a. \"\"the man who broke the Bank of England.\"\" Soros took a huge short position against the Sterling. He believed the Sterling was overvalued relative to the German deutsche mark, and Britain would be forced to devalue its currency and realign with respect to the ERM. Other traders followed and also sold the Sterling short. With much pressure on the currency, the Bank of England had to buy up Sterling in order to maintain its agreement under the ERM. Of course, they needed to borrow other currencies to do this. Soon the BoE was in over its head defending the Sterling, realizing the exchange rate it needed to maintain under the ERM simply wasn't sustainable. Britain was forced to withdraw from the ERM on Black Wednesday, September 16th, 1992. And so, Britain does not use the euro today – and any talk of doing so is politically controversial. Therefore I wouldn't bet on Britain adopting the euro any time soon – too many of the players are still in politics and remember 1992 well. I think if Britain adopting the euro is ever to happen, it will be when the memory of 1992 has faded away. BTW, George Soros made off with more than US$1 billion. Soros is a very smart guy.\"",
"title": ""
},
{
"docid": "17b51bc610cbce0f58d07b01916d0533",
"text": "Not anytime soon, I suspect, but not necessarily for financial reasons. I found this interesting, including the link to the five tests, but I think that this topic is only partially judged through financial eyes, there's a lot of political issues around this with national identity/immigration issues already in the spot light as well as political aspirations. If there will be a call in the near future to join the Euro, how would that reflect on the financial industry in the UK from a PR perspective? and on the political leadership and how it managed the financial crisis? I believe that it is in the interest of all the people in the high positions to show the country getting back on track rather than making ground shaking moves. But what do I know....:-)",
"title": ""
},
{
"docid": "ef80263b369e51a638758552741f4eed",
"text": "When economies are strong, it is particularly alluring to have a single currency as it makes trade and tourism simpler and helps reduce costs. The problem comes when individual member economies get into trouble. Because the Eurozone is a loose grouping of nations, there is no direct equivalent of the US Federal government to coordinate a response, there is instead an odd mixture of National and Central government that makes it harder to get a unified approach to the economy (OK, it's maybe not so different to the US in reality). This lack of flexibility means that some of the key levers of international finance are compromised, for example a weak economy can't float its currency to improve exports. Similarly individual country's interest rates can't be adjusted to balance spending. I suspect the main reason though is political and based on concepts of sovereignty and national pride. The UK does the majority of its trade with the Eurozone, so the pros would possibly outweigh the cons, but the UK as a whole (and some of our papers in particular) have always regarded Europe with suspicion. Most Brits only speak English and find France and Germany a strange and obtuse place. The (almost) common language makes it easier to relate to the US and Canada than our near neighbours. It seems the perception amongst the political establishment is that any attempt to join the Euro is political suicide, while that is the case it is unlikely to happen. Purely from a personal perspective, I'd welcome the Euro except it means a lot of the products I routinely buy would become a lot more expensive if price is 'harmonised'. For an example compare the price of the iPod Touch in the UK (£209.99) to France(€299). The French pay £262 at the current exchange rate, which is close to 25% more. Ouch. See also my question about Canada adopting the US Dollar",
"title": ""
},
{
"docid": "13ec3c8d310d30d31f350c0251af4f40",
"text": "I can't see it happening because most of the population seems to be against it, even if their reasoning on the whole is wrong. Theoretically, people are against the Euro here as a result of national pride. If it's the best thing to do for the good of the country then national pride shouldn't be taken into account. It'd be perverse in the sense that you'd be stopping your country from progressing because you love it. That doesn't add up. Personally, I don't think it's possible for an entire continent to have a single currency. There's too many different countries and cultures involved. For it to work you'd have to have centralised fiscal policy and this makes no sense at all for a continent. What works here might not work in France or Germany. What works in Greece might not work here. etc, etc. The make up of each country's economies is different.",
"title": ""
},
{
"docid": "95ce912acd7a4989895d064ae70790be",
"text": "A lot of smaller (and/or weaker) countries did not have much choice when Germany and France decided to rename the German Mark as the Euro, as most of their trade was already in Marks. It was even common for their population to have their savings in Marks. So the question was. Do we wish to have to use the Euro with or without a seat on the board? It was a no brainer for them at the time... The UK has a lot of trade with the USA and other countries outside of the Euro zone, so we are unlikely to have to join the Euro. So in the end it comes down to this point - if the British voters trust a UK government they elected more or less than an EEC government mostly elected by people in the other EEC countries. I don’t think the UK will be joining the Euro anytime soon, but everything can (and will) change with the passage of time. (After all the USA used to be part of the pound trading zone and please can you pay us all the back dated tax you stop paying after a little tea party!) Update: Given what has just happen to Grease and Spain and the Conservative Party has the most seats in the UK parliament, I don’t think the UK will not be joining the Euro for the next 5 years at least",
"title": ""
},
{
"docid": "6cc7e456751c9ae6e555519de100de88",
"text": "In many countries in Europe the prices shot through the roof, so it is not all positive. Also the switching country gives out lot of monetary control that is not welcomed by many. I think that UK is not going to change to euro for a long long time.",
"title": ""
}
] | [
{
"docid": "2c73a1a0bd1d304831e47d5f9a7718ca",
"text": "\"This is the best tl;dr I could make, [original](http://www.reuters.com/article/us-britain-economy/uk-stuck-in-slow-growth-gear-boe-on-course-to-raise-rates-idUSKBN1CF1F1) reduced by 86%. (I'm a bot) ***** > LONDON - Britain&#039;s Brexit-bound economy remains stuck in a low gear but is probably not weak enough to dissuade the Bank of England from raising interest rates next month, economic data showed. > The BoE said last month that most of its policymakers thought it was likely that they would need to raise rates for the first time in a decade in the coming months. > The BoE believes last year&#039;s Brexit vote will create more inflation pressure by dampening business investment and slowing migration to Britain. ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/75iaad/uk_stuck_in_slow_growth_gear_boe_on_course_to/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ \"\"Version 1.65, ~225637 tl;drs so far.\"\") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr \"\"PM's and comments are monitored, constructive feedback is welcome.\"\") | *Top* *keywords*: **Britain**^#1 **month**^#2 **economy**^#3 **data**^#4 **year**^#5\"",
"title": ""
},
{
"docid": "324db0b73ebde0b9908675aaec81ed4f",
"text": "I'm travelling to the US soon and will transfer to a US $ account from either an € account or £ account. My dad recommends transferring € because it's strong at the moment compared to previously. The £ is weak compared to what it was, but still stronger than €. Which is the best option at the moment?",
"title": ""
},
{
"docid": "031f7677868338ead3397e82547dabd7",
"text": "\"This is the best tl;dr I could make, [original](http://www.reuters.com/article/uk-britain-sterling-idUSKBN1AR0M9) reduced by 75%. (I'm a bot) ***** > LONDON - Sterling fell to a fresh 10-month low against the euro on Friday as investors added bearish bets against the British currency on concerns the economy may be struggling to gain momentum. > Sterling fell 0.2 percent to 90.92 pence against the euro, its lowest level since October 2016. > It has fallen for two consecutive weeks and has weakened nearly 9 percent against the euro since early May. Morgan Stanley strategists are predicting euro parity with the pound in the first quarter of 2018. ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/6thf3f/british_pound_further_down/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ \"\"Version 1.65, ~190040 tl;drs so far.\"\") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr \"\"PM's and comments are monitored, constructive feedback is welcome.\"\") | *Top* *keywords*: **against**^#1 **since**^#2 **Sterling**^#3 **week**^#4 **euro**^#5\"",
"title": ""
},
{
"docid": "b7228ac919920c2b403555de25be31a4",
"text": "If you are really worried your best bet is to move all your cash from Sterling into a foreign currency that you think will be resilient should Brexit occur. I would avoid the Euro! You could look at the US Dollar perhaps, make sure you are aware of the charges for moving the money over and back again, as you will at some stage probably want to get back into Sterling once it settles down, if it does indeed fall. Based on my experience on the stock markets (I am not a currency trader) I would expect the pound to fall fairly sharply on a vote for Brexit and the Euro to do the same. Both would probably rebound quite quickly too as even if there is a Brexit vote it doesn't mean the UK Government will honour the outcome or take the steps quickly. ** I AM NOT A FINANCIAL ADVISOR AND HAVE NO QUALIFICATIONS AS SUCH **",
"title": ""
},
{
"docid": "f07f11ef961fba7897da39b6b1e87f3e",
"text": "The interpretation is correct. The Reuters may give you the London 4PM rates if you query after the close for the day. The close rate is treated as the rate. http://uk.reuters.com/business/currencies/quote?srcAmt=1&srcCurr=GBP&destAmt=&destCurr=USD The London 4PM rate may be obtained from Bank of England at the link below; http://www.bankofengland.co.uk/mfsd/iadb/index.asp?Travel=NIxSTxTIx&levels=1&XNotes=Y&XNotes2=Y&Nodes=X3790X3791X3873X33940&SectionRequired=I&HideNums=-1&ExtraInfo=false&A3836XBMX3790X3791.x=4&A3836XBMX3790X3791.y=3 Or any other Bank that provides such data",
"title": ""
},
{
"docid": "24f047182185523c6a864864bc1ebf1f",
"text": "I personally don't agree with a currency union. I'd rather follow Ireland's example when they gained independence and created the Irish Pound and peg it to Sterling, which they did for over 70 years before transitioning to the Euro. There isn't any debt to reject or default on.The UK treasury has already assured the debt market that it's 100% responsible for it. Scotland has no responsibility for taking on any debt, but might/will in response to negotiations and in return for something. Debt markets will be far more receptive of a country which has 0 government debt. We're not talking South Sudan or a tin pot south american country, we're talking about a mature northern european democratic state. I should also note, that oil is a bonus, but not a required export. With oil, Scotland has higher revenue per person than the entire UK, but if it disappeared tomorrow, we're only slightly below the UK average. [Institute for financial studies.](http://www.ifs.org.uk/publications/6881)",
"title": ""
},
{
"docid": "b36c234151124c34fb9189a4356e13d3",
"text": "Either way you'll be converting to US Dollars somewhere along the line. You are seeking something that is very redundant",
"title": ""
},
{
"docid": "d5ad8f7505f1e6b36d1f04037c3d7275",
"text": "22 June 2016 would have been the time to do this. Nobody on here can tell you what GBP/EUR will do in the next few months and years now. Brexit is going to happen, which implies lower UK growth and consequently a lower path for GBP interest rates, but this is all already priced in. If you believe the UK economy will underperform current forecasts and/or the euro-area economy will outperform current forecasts, that may imply there's scope for further GBP depreciation. If you believe the probability of a further political shock from a 'no deal' Brexit is materially higher than the market thinks, the same is true. But the opposite of these things could happen also. I would worry less about playing the currency markets as a retail investor and more about what currency your outgoings are denominated in. You live in Spain. Do you have significant GBP expenses or liabilities, or do you expect to have them in the future? If not, why are you taking currency risk by holding GBP balances? Whereas if you do - e.g. if you plan to move (back?) to the UK in the near future - then it makes more sense.",
"title": ""
},
{
"docid": "ef460d634d8c9cabb476c9eb30f28f93",
"text": "A Yen is like a penny. Buy a chocolate bar 100¥ or £1.00. Should the UK get rid of pennies and only price things to the pound?",
"title": ""
},
{
"docid": "0917358d7171dfb49f861e4ea004f0e4",
"text": "GBP is widely traded currency and it is definitely possible to send GBP internationally with out any conversion. Of late banks are trying to maximize the FX and if they see a Euro country the sending bank assumes the beneficiary account is in Euro and converts to get FX spread than letting the beneficiary bank decide. Keep complaining to your bank and then the sending bank will put your account in exception and not convert next payments",
"title": ""
},
{
"docid": "e651432466f0d37eb0787dcba0048ec2",
"text": "There is (at least) one service that allows you to convert USD, GBP and EUR at the interbank spot rate, and make purchases using a prepaid MasterCard in many more currencies (also at the interbank rate). They currently don't charge any fees (as of September 2015). You could use your US prepaid card to fund your account with Revolut and then spend them in your local currency (HRK?) without fees (you can check the current USD/HRK rate with their currency calculator); you can also withdraw to non-EUR SEPA-enabled bank accounts, but then your bank would charge you for the necessary currency conversion (both by fees and their exchange rate). If you have a bank account in EUR, you could alternatively convert your USD balance to EUR and then withdraw that to your EUR bank account. If your US prepaid card has a corresponding bank account which can be used for ACH direct debit or domestic wire transfers (ask the issuer if you are unsure), TransferWise or a similar service might also be an option; they allow you to fund a transaction using one of those methods and then credit an account in",
"title": ""
},
{
"docid": "cbf4a5de9f84ac8dfd484389fa250ed0",
"text": "\"Currently, there is simply no reason to do so. It's not a problem. It is no more of a problem or effort to denote \"\"5,000\"\" than it is to denote \"\"50.00\"\". But if there were a reason to do so, it wouldn't be all that difficult. Of course there would be some minor complications because some people (mostly old people presumably) would take time getting used to it, but nothing that would stop a nation from doing so. In Iceland, this has happened on several occasions in the past and while Iceland is indeed a very small economy, it shouldn't be that difficult at all for a larger one. A country would need a grace period while the old currency is still valid, new editions of already circulating cash would need to be produced, and a coordinated time would need to be set, at which point financial institutions change their balances. Of course it would take some planning and coordination, but nothing close to for example unifying two or more currencies into one, like the did with the euro. The biggest side-effect there was an inflation shot when the currencies got changed in each country, but this can be done even with giant economies like Germany and France. Cutting off two zeros would be a cakewalk in comparison. But in case of currencies like the Japanese Yen, there is simply no reason to take off 2 zeros yet. Northern-Americans may find it strange that the numbers are so high, but that's merely a matter of what you're used to. There is no added complication in paying 5.000 vs. 50 at a restaurant, it merely takes more space on a computer screen and bill, and that's not a real problem. Besides, most of the time, even in N-America, the cents are listed as well, and that doesn't seem to be enough of a problem for people to concern themselves with. It's only when you get into hyper-inflation when the shear space required for denoting prices becomes a problem, that economies have a real reason to cut off zeros.\"",
"title": ""
},
{
"docid": "e61919cc2567f96df4868a9c4de17281",
"text": "At any instant, three currencies will have exchange rates so if I know the rate between A and B, and B to C, the A to C rate is easily calculated. You need X pounds, so at that moment, you are subject to the exchange rate right then. It's not a deal or bargain, although it may look better in hindsight if the currencies move after some time has passed. But if a currency is going to depreciate, and you have the foresight to know such things, you'd already be wealthy and not visiting here.",
"title": ""
},
{
"docid": "73f0f5884654654b0658b3caef2f0620",
"text": "You will most likely not be able to avoid some form of format conversion, regardless of which data you use since there is, afaik, no standard for this data and everyone exports it differently. One viable option would be, like you said yourself, using the free data provided by Dukascopy. Please take into consideration that those are spot currency rates and will most likely not represent the rate at which physical and business-related exchange would have happened at this time.",
"title": ""
},
{
"docid": "94d2490c97d88ed2dc63b9efb26711fb",
"text": "\"You are right, if by \"\"a lot of time\"\" you mean a lot of occasions lasting a few milliseconds each. This is one of the oldest arbitrages in the book, and there's plenty of people constantly on the lookout for such situations, hence they are rare and don't last very long. Most of the time the relationship is satisfied to within the accuracy set by the bid-ask spread. What you write as an equality should actually be a set of inequalities. Continuing with your example, suppose 1 GBP ~ 2 USD, where the market price to buy GBP (the offer) is $2.01 and to sell GBP (the bid) is $1.99. Suppose further that 1 USD ~ 2 EUR, and the market price to buy USD is EUR2.01 and to sell USD is EUR1.99. Then converting your GBP to EUR in this way requires selling for USD (receive $1.99), then sell the USD for EUR (receive EUR3.9601). Going the other way, converting EUR to GBP, it will cost you EUR4.0401 to buy 1 GBP. Hence, so long as the posted prices for direct conversion are within these bounds, there is no arbitrage.\"",
"title": ""
}
] | fiqa |
c3c2024773b9831212d510f724663b44 | What will be the long term impact of the newly defined minimum exchange rate target from francs to euro? | [
{
"docid": "5ed06b4b485a29dc989f8c087d98d527",
"text": "The total size of the eurozone economy is $13 trillion, whereas Switzerland'd GDP is about $0.5 trillion, so the eurozone is about 26 times larger. As such, I would not expect this move to have a large effect on the eurozone economy. On the margins, this may decrease somewhat eurozone exports to Switzerland and increase imports from Switzerland, so this would be a slight negative for eurozone growth. Switzerland accounts for 5.2% of the EU's imports, and these imports will now be slightly cheaper, which puts some deflationary pressure on the EU, particularly in the Swiss-specialized industries of chemicals, medicinal products, machinery, instruments and time pieces. But overall, 5.2% is a rather small proportion. Bottom line, most common eurozone countries' people should probably not fret too much about this announcement. What it means for Switzerland and Swiss citizens, however, is a totally different (and much more interesting) question.",
"title": ""
},
{
"docid": "b7577e9124a4a8752111a7e91e5033a0",
"text": "The idea behind this move is to avoid or mitigate long-term deflationary pressure and to boost the competitiveness of Swiss exporters. This is primarily a Swiss-based initiative that does not appear likely to have a major impact on the broader Eurozone. However, some pressure will be felt by other currencies as investors look to purchase - ie. this is not a great scenario for other countries wanting to keep their currencies weak. In terms of personal wealth - if you hold Swiss f then you are impacted. However, 1.2 is still very strong (most analysts cite 1.3 as more realistic) so there seems little need for a reaction of any kind at the personal level at this time, although diversity - as ever - is good. It should also be noted that changing the peg is a possibility, and that the 1.3 does seem to be the more realistic level. If you hold large amounts of Swiss f then this might cause you to look at your forex holdings. For the man in the street, probably not an issue.",
"title": ""
},
{
"docid": "c4d799f952082cf6768813a8df4b3127",
"text": "The Swiss franc has appreciated quite a bit recently against the Euro as the European Central Bank (ECB) continues to print money to buy government bonds issues by Greek, Portugal, Spain and now Italy. Some euro holders have flocked to the Swiss franc in an effort to preserve the savings from the massive Euro money printing. This has increased the value of the Swiss franc. In response, the Swiss National Bank (SNB) has tried to intervene multiple times in the currency market to keep the value of the Swiss franc low. It does this by printing Swiss francs and using the newly printed francs to buy Euros. The SNB interventions have failed to suppress the Swiss franc and its value has continued to rise. The SNB has finally said they will print whatever it takes to maintain a desired peg to the Euro. This had the desired effect of driving down the value of the franc. Which effect will this have long term for the euro zone? It is now clear that all major central bankers are in a currency devaluation war in which they are all trying to outprint each other. The SNB was the last central bank to join the printing party. I think this will lead to major inflation in all currencies as we have not seen the end of money printing. Will this worsen the European financial crisis or is this not an important factor? I'm not sure this will have much affect on the ongoing European crisis since most of the European government debt is in euros. Should this announcement trigger any actions from common European people concerning their wealth? If a European is concerned with preserving their wealth I would think they would begin to start diverting some of their savings into a harder currency. Europeans have experienced rapidly depreciating currencies more than people on any other continent. I would think they would be the most experienced at preserving wealth from central bank shenanigans.",
"title": ""
}
] | [
{
"docid": "e1efb7090aedbe05bd825078862807e9",
"text": "It's not necessary to convert it back for the changes to affect value. Lets say you have a euro account with 1000 euro and a gbp account with 920 gbp (the accounts are equal in value given current exchange rates). You could exchange either account for ~$1180 usd. If you exchange the euro account for USD, and say the euro gets stronger against the pound and dollar (and subsequently the pound and dollar are weaker against the euro); then if you would've kept the 1000 euro it would now be worth more than 920 gbp and more than 1180 usd, and you would've been better off exchanging the gbp account for usd. Barring some cataclysmic economic event; exchange rates between well established currencies don't radically change over a few weeks trip, so I wouldn't really worry about it one way or the other.",
"title": ""
},
{
"docid": "5887589fd2f004e5ffadf2a922b01929",
"text": "Im creating a 5-year projection on Profit and loss, cash flow and balance sheet and i\\m suppose to use the LIBOR (5 year forward curve) as interest rate on debt. This is the information i am given and it in USD. Thanks for the link. I guess its the USD LIBOR today, in one year, in two years, three years, four years and five years",
"title": ""
},
{
"docid": "a829b0cd8b0cae7deedf77c992b58af3",
"text": "It's impossible to determine which event will cause a major shift for a certain currency pair. However, this does not mean that it's not possible to identify events that are important to the overall market sentiment and direction. There are numerous sites that provide a calendar for upcoming and past events and their impact which is most of the time indicated as low, medium and high. Such sites are: Edit: I would like to add to that, that while these are major market movers, you cannot forget that they mainly provide a certain direction for the market but that it's not always clear in which direction the market will go. A recent and prime example of a major event that triggered opposite effects of what you would expect, is the ECB meeting that took place the 3rd of December. Due to the fact that the market already priced in further easing by the ECB the euro strengthened instead of weakening compared to the dollar. This strengthening happened even though the ECB did in fact adjust the deposit by 10 base points to -0.30 % and increased the duration of the QE. Taking above example into consideration it's important to always remember that fundamentals are hard to grasp and that it will take a while to make it a second nature and become truly successful in this line of trading. Lastly, fundamentals are only a part of the complete picture. Don't lose sight of support and resistance levels as well as price action to determine when and how to enter a trade.",
"title": ""
},
{
"docid": "3336d6fc35d673959c37b0dcb67d246c",
"text": "It's not. If you look at the page you link to and change dates, it's clear the rate changes a bit. 120.15 120.1 per hundred. The Swiss can keep the 1.200 as a target and if it's higher, sell agingst the euro to bring it down, if lower, buy. If the swiss experienced a serious financial crisis and their currency fell, they may not have the power to control it, if the rest of the world said it was worth less, you can be sure it will fall.",
"title": ""
},
{
"docid": "3200217e7939b7c9eb0a82e4a1124feb",
"text": "Here is the technical guidance from the accounting standard FRS 23 (IAS 21) 'The Effects of Changes in Foreign Exchange Rates' which states: Exchange differences arising on the settlement of monetary items or on translating monetary items at rates different from those at which they were translated on initial recognition during the period or in previous financial statements shall be recognised in profit or loss in the period in which they arise. An example: You agree to sell a product for $100 to a customer at a certain date. You would record the sale of this product on that date at $100, converted at the current FX rate (lets say £1:$1 for ease) in your profit loss account as £100. The customer then pays you several $100 days later, at which point the FX rate has fallen to £0.5:$1 and you only receive £50. You would then have a realised loss of £50 due to exchange differences, and this is charged to your profit and loss account as a cost. Due to double entry bookkeeping the profit/loss on the FX difference is needed to balance the journals of the transaction. I think there is a little confusion as to what constitutes a (realised) profit/loss on exchange difference. In the example in your question, you are not making any loss when you convert the bitcoins to dollars, as there is no difference in the exchange rate between the point you convert them. Therefore you have not made either a profit or a loss. In terms of how this effects your tax position; you only pay tax on your profit and loss account. The example I give above is an instance where an exchange difference is recorded to the P&L. In your example, the value of your cash held is reflected in your balance sheet, as an asset, whatever its value is at the balance sheet date. Unfortunately, the value of the asset can rise/fall, but the only time where you will record a profit/loss on this (and therefore have an impact on tax) is if you sell the asset.",
"title": ""
},
{
"docid": "cef4fa3efefe86f85f703ff4e020704f",
"text": "\"If there is a very sudden and large collapse in the exchange rate then because algorithmic trades will operate very fast it is possible to determine “x” immediately after the change in exchange rate. All you need to know is the order book. You also need to assume that the algorithmic bot operates faster than all other market participants so that the order book doesn’t change except for those trades executed by the bot. The temporarily cheaper price in the weakened currency market will rise and the temporarily dearer price in the strengthened currency market will fall until the prices are related by the new exchange rate. This price is determined by the condition that the total volume of buys in the cheaper market is equal to the total volume of sells in the dearer market. Suppose initially gold is worth $1200 on NYSE or £720 on LSE. Then suppose the exchange rate falls from r=0.6 £/$ to s=0.4 £/$. To illustrate the answer lets assume that before the currency collapse the order book for gold on the LSE and NYSE looks like: GOLD-NYSE Sell (100 @ $1310) Sell (100 @ $1300) <——— Sell (100 @ $1280) Sell (200 @ $1260) Sell (300 @ $1220) Sell (100 @ $1200) ————————— buy (100 @ $1190) buy (100 @ $1180) GOLD-LSE Sell (100 @ £750) Sell (100 @ £740) ————————— buy (200 @ £720) buy (200 @ £700) buy (100 @ £600) buy (100 @ £550) buy (100 @ £530) buy (100 @ £520) <——— buy (100 @ £500) From this hypothetical example, the automatic traders will buy up the NYSE gold and sell the LSE gold in equal volume until the price ratio \"\"s\"\" is attained. By summing up the sell volumes on the NYSE and the buy volumes on the LSE, we see that the conditions are met when the price is $1300 and £520. Note 800 units were bought and sold. So “x” depends on the available orders in the order book. Immediately after this, however, the price of the asset will be subject to the new changes of preference by the market participants. However, the price calculated above must be the initial price, since otherwise an arbitrage opportunity would exist.\"",
"title": ""
},
{
"docid": "634ae536b1c98d917d05eebcab734301",
"text": "Operation twist is just an asset swap. The balance sheet isn't being expanded, money isn't being printed to buy treasuries. The fed is just selling short term assets and buying longer term assets. If more longer term treasuries are bought this brings the yield down (for bonds the more you buy them, the lower the yield goes). Lower long term interest rates means people can borrow at low rates and this is supposed help the economy. No printing of money means that gold doesn't get more precious. I do think gold will do well though, if the ECB wants to save the EU they're going to have to print, and print a lot. The Bank of England is doing some QE too. Lots of countries will be/ are easing.",
"title": ""
},
{
"docid": "12b36b072e86700840072c0c1575631c",
"text": "Well, you could just deposit the Euros in your French bank. In the US, you'll have to deal with foreign exchange services, unless you're talking large amounts for banks to want to handle (they'll handle small amounts too, of course, but not without a significant fee). Best thing I can think of is keeping them in a drawer with your passport. You'll use them on your next flight. Being French national, you're undoubtedly bound to visit the Euro zone again.",
"title": ""
},
{
"docid": "6d87984f8fd0b68c76fb7161190f20fd",
"text": "\"The risk is that greece defaults on it's debts and the rest of the eurozone chose to punish it by kicking it out of the Eurozone and cutting off it's banks from ECB funds. Since the greek government and banks are already in pretty dire straits this would leave greece with little choice but to forciblly convert deposits in those banks to a \"\"new drachma\"\". The exchange rate used for the forced conversions would almost certainly be unfavorable compared to market rates soon after the conversion. There would likely be capital controls to prevent people pulling their money out in the runup to the forced conversion. While I guess they could theoretically perform the forced conversion only on Euro deposits this seems politically unlikely to me.\"",
"title": ""
},
{
"docid": "9a49a74eb5a5c0016c80d3cba33b34eb",
"text": "The real, short-term effect is that prices will go up a bit, have no effect on the amount of actual travel, and the government(s) that impose this tax will rake in more money to waste. This is what the governments actually want, but CO2 emissions is a good way to sell it. The long-term effect is that people will be just a bit more, on the margin, likely to avoid interacting with the European economy, which sucks for everyone.",
"title": ""
},
{
"docid": "9a3a4bfb1af5d188ee9d565c1c846036",
"text": "\"There's an ideological/psychological aspect of this too apart from the practical problems. Eurozone leaders keep saying the mantra: conversion to the euro is \"\"irreversible\"\". There are analogies of this in recent history, it reminds me of the soviet leaders and their belief that communism is where history ends. They genuinely thought that once a communist system is built up in a country, it would stay forever. They believed in the superiority of their system, among other things this lead to the isolation of the Soviet Union from the West and the start of the Cold War. Then, in 1956 they were proven wrong with the Hungarian revolution and while they tried to \"\"clean up\"\" the situation as fast as they could and forget about it, their downhill inevitably started. Back to the present, you can easily see the importance of keeping Greece in the EZ. If Greece exits, the illusion of the irreversibility of the Euro is gone, and it would start to fall apart.\"",
"title": ""
},
{
"docid": "381ec914798b6e7bd9ca5a71455574e1",
"text": "Their biggest problem is that their main industry is shipping. Anything they could do to their currency wouldn't help the shipping industry at all. They can't even raise taxes, they aren't the only convenience flag in the world and ships are obviously very easy to move out. The only industry they have that could get any benefit from a devaluation would be tourism, but that would be mostly negated by moving out of the euro.",
"title": ""
},
{
"docid": "78c84c5efcb07192d4a37d43f50b678c",
"text": "I think the point is that m2 is 13.7 trillion usd, the Swiss investment is not even *half* a percent. The us equities marker valuation is larger at 22.5 trillion USD. Dumping an extra 100 bil usd is too little to do anything. Even dumping a trillion USD is a relatively small number.",
"title": ""
},
{
"docid": "7ea314b3dbeec651d17d4d45e178c4b9",
"text": "Balanced out might be a better way to put it. Imports become cheaper, driving down inflation, which should permit companies to operate at a lower cost, which should eventually work to limit or eliminate the impact of the shift. These balancing factors generally occur in the long term and specific sectors of the economy will be impacted to different degrees.",
"title": ""
},
{
"docid": "b9584a6f6554b2d2367ec417532961f0",
"text": "e.g. a European company has to pay 1 million USD exactly one year from now While that is theoretically possible, that is not a very common case. Mostly likely if they had to make a 1 million USD payment a year from now and they had the cash on hand they would be able to just make the payment today. A more common scenario for currency forwards is for investment hedging. Say that European company wants to buy into a mutual fund of some sort, say FUSEX. That is a USD based mutual fund. You can't buy into it directly with Euros. So if the company wants to buy into the fund they would need to convert their Euros to to USD. But now they have an extra risk parameter. They are not just exposed to the fluctuations of the fund, they are also exposed to the fluctuations of the currency market. Perhaps that fund will make a killing, but the exchange rate will tank and they will lose all their gains. By creating a forward to hedge their currency exposure risk they do not face this risk (flip side: if the exchange rate rises in a favorable rate they also don't get that benefit, unless they use an FX Option, but that is generally more expensive and complicated).",
"title": ""
}
] | fiqa |
ae0477f74e680e16814dedc53e12e5e1 | Is this investment opportunity problematic? | [
{
"docid": "252fb12b2398e3e815babe758c4075bf",
"text": "\"It would have to be made as a \"\"gift\"\", and then the return would be a \"\"gift\"\" back to you, because you're not allowed to use a loan for a down payment. This is not to evade taxes. This is to evade a credit check. The problem is that banks don't like people to have too much debt. The bank could void the loan and go after your friends for damages under certain circumstances, as this is a fraud on the bank. Perhaps you might be guilty of conspiracy to commit fraud or similar. I'm willing to assume for the sake of argument that there is zero chance of your friend not paying you back intentionally. But even so, there are still potential problems. What if your friends end up without the money to pay? Worse, what if something happens to them? This is an off-books transaction. You couldn't make a claim against the estate, as there can't be a paper trail. You'd be left out the money in those circumstances. You'd both be safer if your friends saved up for the next opportunity rather than trying to grab this one. An alternative would be to buy a share of their current rental house. That would give them the necessary money and would give you paper showing your money. It's not a gift, it's a purchase. You'd have to pay capital gains tax on the 15% profit that they're promising you. But you'd both be above board and honest.\"",
"title": ""
},
{
"docid": "b068ed80d2622176669138ee89886956",
"text": "\"Your Spidey senses are good. A good friend would not put you in such a position. It's simple, to skirt some issue (we'll get to that in a second) you are being asked to lie. All for a 15% return on your $$$$. <<< How much is that? You can easily lend him the money, and have a better paper trail. But the bank is not going to like that, and requires this money from friends or family to be a gift. I've heard mortgage guys at the bank say \"\"It's just a formality, we need this paperwork to sell the loan to the investors.\"\" These bankers belong in jail, or at least fired and barred from the industry. They broke the economy in 2008, and should be stopped from doing it again.\"",
"title": ""
},
{
"docid": "480ec478caaa8b8c37c1ddcd0dd3c218",
"text": "If you can separate the following two points, and live with them. I think you are good to go ahead. Otherwise I would seriously recommend you to reconsider. Are you willing to give out this much money help a friend assuming that you will never get it back? This is what it means to give a gift, don't let their current intentions distract you from this. Will you be happy to wait as long as it takes till he is able and willing to give you some money? Is it ok if this moment never occurs, or would you feel like the money belongs to you already? This is what it means to receive the promise of a gift, don't get distracted by the fact that you may have given them something before. I don't have a legal background, but if you actually give the money to him so he can buy a house, without demanding something in return, I would judge that you are at least morally ok. (And if the transaction is in cash and fully deniable, you are probably not going to face legal problems in practice).",
"title": ""
},
{
"docid": "69cf9c7daa08918e2890331a8d1b7f07",
"text": "Adding to what others have said, if the mortgage for the new house is backed by the federal government (e.g., through FHA or is to be sold to Fannie Mae/Freddie Mac) you would be violating 18 USC § 1001, which makes making intentionally false statements to any agent or branch of the federal government a crime punishable by up to 5 years' imprisonment. The gift letter you are required to sign will warn you of as much. Don't do it, it's not worth the risk of prison time.",
"title": ""
},
{
"docid": "896be0b7de9735410139e90a43cb3306",
"text": "\"As an investment opportunity: NO. As a friendly assist with money you don't mind ever getting back, legal depending on amount. A few years back I was in the housing market myself and researching interest rates and mortgages. For one property I was very interested in, I would need about $4K extra in liquid cash to complete the down-payment. A pair of options I saw were a \"\"combo loan\"\" 15yr 4% interest for the house, 1yr 8% interest for the $4K. Alternately, the \"\"bank of mom and dad\"\" could offer the 4K loan for a much lower rate. The giftable limit where reporting is not required was $12,000 at the time I did the review. IRS requires personal loans to be counted as having interest at the commercial rate. Thus an interest free loan of $10K with commercial interest rate of 1% (for easy math) would be counted as a gift of $10,100 for that calendar year. Disclaimer: Ultimately, I did not use this approach and did not have it subjected to a legal review.\"",
"title": ""
},
{
"docid": "3f7daeb76a5bac2d245bcac8cf109e91",
"text": "Every time I have loaned money to family members I have never gotten the money back. If they can't make the down payment, they should not be taking out the loan. It's a bad idea to loan money to friends, because when they can't pay you back (which might be forever) they avoid you. So, you lose both your money and your friends.",
"title": ""
},
{
"docid": "928f578d51d5e2b352fe5022b90e524e",
"text": "If they own the old house outright, they can mortgage it to you. In many jurisdictions this relieves you of the obligation to chase for payment, and of any worry that you won't get paid, because a transfer of ownership to the new owner cannot be registered until any charge against a property (ie. a mortgage) has been discharged. The cost of to your friends of setting up the mortgage will be less than the opulent interest they are offering you, and you will both have peace of mind. Even if the sale of the old house falls through, you will still be its mortgagee and still assured of repayment on any future sale (or even inheritance). Complications arise if the first property is mortgaged. Although second mortgages are possible (and rank behind first mortgages in priority of repayment) the first mortgagee generally has a veto on the creation of second mortgages.",
"title": ""
},
{
"docid": "9db2c338b8dbdf5f17823a3a1c9df309",
"text": "it seems you have 3 concerns:",
"title": ""
},
{
"docid": "b1e115ac713a46e238a12376ba07844d",
"text": "\"It would have to be made as a \"\"gift\"\", and then the return would be a \"\"gift\"\" back to you, because you're not allowed to use a loan for a down payment. I see some problems, but different ones than you do: One more question: is the market really hot right now? It was quite cold for the last few years.\"",
"title": ""
}
] | [
{
"docid": "576946d9e5b614b7760a6fa9ea847863",
"text": "3-5 years is long enough of a timeframe that I'd certainly invest it, assuming you have enough (which $10k is). Even conservatively you can guess at 4-5% annual growth; if you invest reasonably conservatively (60/40 mix of stocks/bonds, with both in large ETFs or similar) you should have a good chance to gain along those lines and still be reasonably safe in case the market tanks. Of course, the market could tank at any time and wipe out 20-30% of that or even more, even if you invest conservatively - so you need to think about that risk, and decide if it's worth it or not. But, particularly if your 3-5 year time frame is reasonably flexible (i.e., if in 2019 the market tanks, you can wait the 2-3 years it may take to come back up) you should be investing. And - as usual, the normal warnings apply. Past performance is not a guarantee of future performance, we are not your investment advisors, and you may lose 100% of your investment...",
"title": ""
},
{
"docid": "e469fecddb9bac73a2d315a66af0ca53",
"text": "\"There will be many who will judge your proposal on the idea that subsidized loans should be available to those who need them, and should not be used by others who are simply trying to profit from them. Each school has a pool of money available to offer for subsidized and unsubsidized loans. If they are giving you a subsidized loan, they cannot allocate it to someone else who needs it. Once you weigh the investment risks, I agree that it is analogous to investing rather than repaying your mortgage quickly. If you understand the risks, there's no reason why you shouldn't consider other options about what to do with the money. I am more risk averse, so I happen to prefer paying down the mortgage quickly after all other investment/savings goals have been met. Where you fit on that continuum will answer the question of whether or not it is a \"\"bad idea\"\".\"",
"title": ""
},
{
"docid": "7967202b7921329aed481174711eebb7",
"text": "Turukawa's answer is quite good, and for your own specific situation, you might begin by being sceptical about what you are getting for investing a few thousand dollars. With the exception of Paul Graham's Y-Combinator, there are very few opportunities to invest at that type of level, and Y-Combinator provides a lot of other assistance besides their modest initial investment. I can tell from your post that you think like an investor. It is highly unlikely that the entrepreneurial programmers that you will be backing will be wired that way. From the modest amount that you are investing, you are unlikely to be the lead investor in this opportunity. If you are interested in proceeding, simply stick along for the ride, examining the terms and documents that more significant investors will be demanding. Remain positive and supportive, but simply wait to sign on the dotted line until others have done the heavy lifting. For more insights into startups themselves, see Paul Graham's essays at www.paulgraham.com. He's the real deal, and his recent essays will provide you with current insights about software startups. Good luck.",
"title": ""
},
{
"docid": "3fd1f453fdf50f3d43731985b8d1c9bb",
"text": "Moreover the fact that they're simply invested in two of the biggest emerging market ETFs which preform well with global stability but are overall kinda risky long term goes to show that it's not some unheard of success. As you said, the proving ground will be whether they can make money in a down economy, where it's much harder to find profitable investments. Perhaps they'll switch to bonds and commodities.",
"title": ""
},
{
"docid": "9d917c533e1f467fdc043cc786853554",
"text": "The ROI percentage becomes a meaningless figure at that point and would either be infinite or a very large number if you assume an equity investment of $1 or $0.01. At that point it's obviously a lucrative deal *as long as it works out* so the bigger question is what are the risks of it not working out and what's the ROIC.",
"title": ""
},
{
"docid": "58b4d3e97ef5bd7787febc8e5c69e50a",
"text": "Let us consider the risks in the investment opportunities: Now, what are the returns in each of the investment: What are the alternatives to these investments, then?",
"title": ""
},
{
"docid": "c652c2523de64598f681875cf8629f17",
"text": "If it's a low margin business and you can get value for it that's higher than the leadership values it, and they have some opportunity in a better margin business but for some reason couldn't acquire debt funding or more investors to fund the new business; then it might be feasible, but unusual and probably not ideal.",
"title": ""
},
{
"docid": "afe6a50f6ffa99608a6aa9f1d64bd178",
"text": "Could somebody explain to me exactly why the writer doesn't think this is a win for passive investing? Aren't 'this could happen' statements only relevant to active managers so if you already believe that active investing is more successful than passive then of course you'll just fit this situation to 'there is still potential for major loss, the S&P has tanked x many times' because you believe that there are predictable patterns in markets while the passive investor says that isn't true.",
"title": ""
},
{
"docid": "e2900a922d243bb2b0282f4fcec6579b",
"text": "\"no way -- he suggests that if you don't have an edge, no one needs to play the game. He doesn't like the idea of a \"\"lesser bad\"\" way to invest (MPT). If you do decide to get involved in investing, then it's about absolute performance, not relative. He believes that the whole relative performance thing -- beating some arbitrary benchmark -- is just an artificial construct.\"",
"title": ""
},
{
"docid": "80a3941ace08ac4c021617da3e0f6e2b",
"text": "\"It sounds like a great opportunity, but like any opportunity you need to do your research and give it a thorough evaluation. Although the current owner may be your friend, don't let emotion get in the way of a fair and honest assessment. Some general things you need to consider: Past financial data of the pizza restaurant - if you are going to invest, you want your investment to pay off and to be profitable. What are the historical earnings?If you take management of the pizza restaurant are there things you can do to cut costs/increase profits? Understand the competition that is around the area, does your pizza restaurant have a competitive edge that will enable to succeed in another location? Do you enjoy working there? Would you enjoy working there more than the prospective work you would do as a welder? Finally if you want to invest, what kind of investment structure? What are your rights as a shareholder? What is your ownership stake? What happens in the case of share dilution? Going back to financials, how long do you estimate conservatively that you will be able to make back the principal investment. Now referring to your other question of \"\"is it worth the risk to give up guaranteed money\"\"... It is harder and harder for younger people like you and I to depend solely on fixed salary jobs. If you want financial success, you want to build assets for yourself that generates income without you expressly there recording your hours on a time-card. No money is ever guaranteed. There are many risks associated with a person's whose only source of income is from his day job. Finally, you don't necessarily have to put up the investment with your own money and give up school. You could look for other investors or take a loan on the business to open a new store. There's nothing wrong leveraging debt - it will help you save tax money. Anyways I'm glad you've found this opportunity. Remember to always think big but be smart about it too! P.S. If you want to pm me any specifics for me to look at in terms of financials or legal stuff I'd be more than happy to help a brother out.\"",
"title": ""
},
{
"docid": "62805ccdb9c6fbf48715ce3709ffaa39",
"text": "I think the main question is whether the 1.5% quarterly fee is so bad that it warrants losing $60,000 immediately. Suppose they pull it out now, so they have 220000 - 60000 = $160,000. They then invest this in a low-cost index fund, earning say 6% per year on average over 10 years. The result: Alternatively, they leave the $220,000 in but tell the manager to invest it in the same index fund now. They earn nothing because the manager's rapacious fees eat up all the gains (4*1.5% = 6%, not perfectly accurate due to compounding but close enough since 6% is only an estimate anyway). The result: the same $220,000 they started with. This back-of-the-envelope calculation suggests they will actually come out ahead by biting the bullet and taking the money out. However, I would definitely not advise them to take this major step just based on this simple calculation. Many other factors are relevant (e.g., taxes when selling the existing investment to buy the index fund, how much of their savings was this $300,000). Also, I don't know anything about how investment works in Hong Kong, so there could be some wrinkles that modify or invalidate this simple calculation. But it is a starting point. Based on what you say here, I'd say they should take the earliest opportunity to tell everyone they know never to work with this investment manager. I would go so far as to say they should look at his credentials (e.g., see what kind of financial advisor certification he has, if any), look up the ethical standards of their issuers, and consider filing a complaint. This is not because of the performance of the investments -- losing 25% of your money due to market swings is a risk you have to accept -- but because of the exorbitant fees. Unless Hong Kong has got some crazy kind of investment management market, charging 1.5% quarterly is highway robbery; charging a 25%+ for withdrawal is pillage. Personally, I would seriously consider withdrawing the money even if the manager's investments had outperformed the market.",
"title": ""
},
{
"docid": "46c9f0d3d1b4ccabea1124258eda375c",
"text": "\"You're \"\"onto\"\" something. Investing in real estate was not a bad idea about 10-15 years ago, when stocks were high, and real estate was not. On the other hand, by about 2006, BOTH stocks and real estate were high, and should have been avoided. And around 1980, both were LOW, and should have been bought. I expand this construct to include gold and oil. Around 2005, these were relatively low, and should have been bought over stocks and real estate. On the other hand, ALL FOUR are high right now, and offer comparable dangers.\"",
"title": ""
},
{
"docid": "27956ee0d314fb8c8e1a361b3b04ae07",
"text": "I would say your decision making is reasonable. You are in the middle of Brexit and nobody knows what that means. Civil society in the United States is very strained at the moment. The one seeming source of stability in Europe, Germany, may end up with a very weakened government. The only country that is probably stable is China and it has weak protections for foreign investors. Law precedes economics, even though economics often ends up dictating the law in the long run. The only thing that may come to mind is doing two things differently. The first is mentally dropping the long-term versus short-term dichotomy and instead think in terms of the types of risks an investment is exposed to, such as currency risk, political risk, liquidity risk and so forth. Maturity risk is just one type of risk. The second is to consider taking some types of risks that are hedged either by put contracts to limit the downside loss, or consider buying longer-dated call contracts using a small percentage of your money. If the underlying price falls, then the call contracts will be a total loss, but if the price increases then you will receive most of the increase (minus the premium). If you are uncomfortable purchasing individual assets directly, then I would say you are probably doing everything that you reasonably can do.",
"title": ""
},
{
"docid": "e97dd86a3520192f5e14722856c990a9",
"text": "\"It is not a \"\"riskless\"\" transaction, as you put it. Whenever you own shares in a company that is acquiring or being acquired, you should read the details behind the deal. Don't make assumptions just based on what the press has written or what the talking heads are saying. There are always conditions on a deal, and there's always the possibility (however remote) that something could happen to torpedo it. I found the details of the tender offer you're referring to. Quote: Terms of the Transaction [...] The transaction is subject to certain closing conditions, including the valid tender of sufficient shares, which, when added to shares owned by Men’s Wearhouse and its affiliates, constitute a majority of the total number of common shares outstanding on a fully-diluted basis. Any shares not tendered in the offer will be acquired in a second step merger at the same cash price as in the tender offer. [...] Financing and Approvals [...] The transaction, which is expected to close by the third quarter of 2014, is subject to satisfaction of customary closing conditions, including expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Act. Both Men’s Wearhouse and Jos. A. Bank are working cooperatively with the Federal Trade Commission to obtain approval of the transaction as soon as possible. [...] Essentially, there remains a small chance that one of these \"\"subject to...\"\" conditions fails and the merger is off. The chance of failure is likely perceived as small because the market price is trading close to the deal price. When the deal vs. market price gap is wider, the market would be less sure about the deal taking place. Note that when you tender your shares, you have not directly sold them when they are taken out of your account. Rather, your shares are being set aside, deposited elsewhere so you can no longer trade them, and later, should the conditions be satisfied, then you will be paid for your shares the deal price. But, should the deal fall apart, you are likely to get your shares deposited back into your account, and by that time their market value may have dropped because the price had been supported by the high likelihood of the transaction being completed. I speculated once on what I thought was a \"\"sure deal\"\": a large and popular Canadian company that was going to be taken private in a leveraged buyout by some large institutional investors with the support of major banks. Then the Global Financial Crisis happened and the banks were let off the hook by a solvency opinion. Read the details here, and here. What looked like a sure thing wasn't. The shares fell considerably when the deal fell apart, and took about four years to get back to the deal price.\"",
"title": ""
},
{
"docid": "5d2b124795bc36a1421cb615e4b3ab19",
"text": "\"Can you easily stomach the risk of higher volatility that could come with smaller stocks? How certain are you that the funds wouldn't have any asset bloat that could cause them to become large-cap funds for holding to their winners? If having your 401(k) balance get chopped in half over a year doesn't give you any pause or hesitation, then you have greater risk tolerance than a lot of people but this is one of those things where living through it could be interesting. While I wouldn't be against the advice, I would consider caution on whether or not the next 40 years will be exactly like the averages of the past or not. In response to the comments: You didn't state the funds so I how I do know you meant index funds specifically? Look at \"\"Fidelity Low-Priced Stock\"\" for a fund that has bloated up in a sense. Could this happen with small-cap funds? Possibly but this is something to note. If you are just starting to invest now, it is easy to say, \"\"I'll stay the course,\"\" and then when things get choppy you may not be as strong as you thought. This is just a warning as I'm not sure you get my meaning here. Imagine that some women may think when having a child, \"\"I don't need any drugs,\"\" and then the pain comes and an epidural is demanded because of the different between the hypothetical and the real version. While you may think, \"\"I'll just turn the cheek if you punch me,\"\" if I actually just did it out of the blue, how sure are you of not swearing at me for doing it? Really stop and think about this for a moment rather than give an answer that may or may not what you'd really do when the fecal matter hits the oscillator. Couldn't you just look at what stocks did the best in the last 10 years and just buy those companies? Think carefully about what strategy are you using and why or else you could get tossed around as more than a few things were supposed to be the \"\"sure thing\"\" that turned out to be incorrect like the Dream Team of Long-term Capital Management, the banks that were too big to fail, the Japanese taking over in the late 1980s, etc. There are more than a few times where things started looking one way and ended up quite differently though I wonder if you are aware of this performance chasing that some will do.\"",
"title": ""
}
] | fiqa |
79e1a2b3571e6c6943fce9ceae3cfe08 | How is not paying off mortgage better in normal circumstances? | [
{
"docid": "7aa140333d3f24b0bee604d7c5edc4e6",
"text": "\"The reason is that although the American economy is functioning normally, mortgage rates are stupid-low, and are below a prudent expectation of long-term (30 year) rates of return in the market. I manage endowments, so I say \"\"prudent\"\" in the context of endowment investment, which is the picture of caution and subject to UPMIFA law (the P being prudent). What's more, there are tax benefits. Yes, you pay 15% long-term capital gains tax on investment income. But your mortgage interest is tax deductible at your \"\"tax bracket\"\" rate of 25, 28 or 33% - this being the tax you would pay on your next dollar of earned income. And in the early years of a mortgage, mortgage payments are nearly 100% interest. So even if it's a wash: you gain $10k in the market but pay $10k in mortgage interest -- you pay $1500 tax on the gains, but the interest deduction redudes tax by $2800. So you are still $1300 ahead. TLDR: the government pays us to do this.\"",
"title": ""
},
{
"docid": "1021105f9b691a94f55193b46aa9d692",
"text": "Lets do the math, using your numbers. We start off with $100K, a desire to buy a house and invest, and 30 years to do it. Scenario #1 We buy a house for $100K mortgage at 5% interest over 30 years. Monthly payment ends up being $536.82/month. We then take the $100K we still have and invest it in stocks, earning an average of 9% annually and paying 15% taxes. Scenario #2 We buy a house for our $100K cash, and then, every month, we invest the $536.82 we would have paid for the mortgage. Again, investments make 9% annually long term, and we pay 15% taxes. How would it look in 30 years? Scenario #1 Results: 30 years later we would have a paid off house and $912,895 in investments Scenario #2 Results: 30 years later we would have a paid off house and $712,745 in investments Conclusion: NOT paying off your mortgage early results in an additional $200,120 in networth after 30 years. That's 28% more. Therefore, not paying off your mortgage is the superior scenario. Caveats/Notes/Things to consider Play with the numbers yourself:",
"title": ""
},
{
"docid": "748835fabfba5ebb60dae096b4a4f374",
"text": "There are several reasons:",
"title": ""
},
{
"docid": "04d940078dcec99600dfe5f9d54d4f39",
"text": "\"In some respects the analysis for this question is similar to comparing a \"\"safe\"\" return on a government bond vs. holding the stock market. Typically, the stock market's expected return will be higher -- i.e., there's a positive equity risk premium -- vs. a government bond (assuming it's held to maturity). There's no guarantee that the stock market will outperform, although the probability of outperformance rises (some analysts argue) the longer the holding period for equities beyond, say, 10 years. That's why there's generally a positive equity risk premium, otherwise no one (or relatively few investors) would hold equities.\"",
"title": ""
},
{
"docid": "f1387faafbfd01db56cf7af7a6187736",
"text": "One way of looking at it is that your equity in your house is an investment in a particular class of asset, and investing further in that asset class may drive you away from, rather than towards, your preferred asset mix. It's pretty common here in New Zealand for people's only investments to be their homes and rental properties. I wish those people luck when our current property boom ends.",
"title": ""
},
{
"docid": "f4b75a63bf6184e218d2b55c6d84ddc6",
"text": "Certainly there are people who do pay off their homes. Others do not. It's a question of risk tolerance and preference. Some considerations relevant to this question: Taxes - Interest on a mortgage is tax deductible. Particularly for high earners, this is a significant incentive to maintain a mortgage balance and place extra money in the market instead. Liquidity - If you lose your job, you can sell stocks to pay the mortgage. But if you have made principle payments on your mortgage but still owe some outstanding balance, you are still required to make monthly payments without any source of income. Rates - In recent years it is been common to get a mortgage for 3.2% to 3.5%. The difference between those rates and 9% rate of return for the market is substantial. There are other considerations but the answer in the end is that for many people the risk / reward calculus says the ~5% difference in rate of return is worth the potential risks.",
"title": ""
}
] | [
{
"docid": "99c768a2572426fd23b4feda32756c24",
"text": "It also reduces risk from the bank's eyes. Believe it or not, they do lose out when people don't pay on their mortgages. Take the big 3 (Wells, Chase and BoA). If they have 50 million mortgages between the 3 of them and 20% of people at one point won't be able to pay their mortgage due to loss of income or other factors, this presents a risk factor. Although interest payments are still good, reducing their principal and interest keeps them tied down for additional (or sometimes shorter) time, but now they are more likely to keep getting those payments. That's why credit cards back in 07 and 08 reduced limits for customers. The risk factor is huge now for these financial institutions. Do your research, sometimes a refi isn't the best option. Sometimes it is.",
"title": ""
},
{
"docid": "3a8c68e2a137a8bc2208321265351b42",
"text": "\"Because \"\"my accountant said I'm in the 28% bracket and need more write-offs.\"\" When I hear someone say this I tell them to get a new accountant/advisor/tax guy. The benefit, if any, is the fact that if, and only if, (a hat tip to @staticx) you are already itemizing your deductions. It means that for me, my 3.5% mortgage is really costing me 2.625%. The only effect of this is the when I line up my debts, the mortgage might fall to a lower priority for payback. This is where there's a balance between the choice of a robust emergency fund, earning close to 0% today, or using those funds to pay the mortgage at an accelerated rate. If the sentiment expressed by the question implies that one should carry a mortgage, needed or not, it really comes down the a question of risk over the long term. I don't suggest that people take a mortgage today to invest in the market. A zero return as we just saw in the '00s will show you that the 10% market return is an average over the very long term. FWIW, the '96-'05 period returned 9.08%, and '06-'13 (2 years short of the 10) 7.26%. Few have the discipline to patiently wait out the dips and see the returns I quoted. That said, the fact that the interest is deductible is a small factor given the low rates we are currently enjoying. Each of the points above can be expanded into its own answer. A great question with not-so-simple answers.\"",
"title": ""
},
{
"docid": "4247fc4bd8436e1a1c0b69754b86c1ff",
"text": "One big factor that no one has mentioned yet is whether you believe in a deflationary or inflationary future. Right now, we are leaning towards a deflationary environment so it makes sense to pay off more of the debt. (If you make just one extra payment a year, you will have paid off your house 7 years early). However, should this change (depending on government and central bank policy) you may be better off putting down the very minimum. In a year or three from now, you should have a clearer picture. In the meanwhile, here is a recent Business Week article discussing both sides of the argument. http://www.businessweek.com/magazine/content/10_28/b4186004424615.htm",
"title": ""
},
{
"docid": "f595b1e50b0683b20aa07a69001c969c",
"text": "\"One way to think of the typical fixed rate mortgage, is that you can calculate the balance at the end of the month. Add a month's interest (rate times balance, then divide by 12) then subtract your payment. The principal is now a bit less, and there's a snowball effect that continues to drop the principal more each month. Even though some might object to my use of the word \"\"compounding,\"\" a prepayment has that effect. e.g. you have a 5% mortgage, and pay $100 extra principal. If you did nothing else, 5% compounded over 28 years is about 4X. So, if you did this early on, it would reduce the last payment by about $400. Obviously, there are calculators and spreadsheets that can give the exact numbers. I don't know the rules for car loans, but one would actually expect them to work similarly, and no, you are not crazy to expect that. Just the opposite.\"",
"title": ""
},
{
"docid": "4b27fe4787eb6e07ed71131bc7357766",
"text": "\"There are other good answers to the general point that the essence of what you're describing exists already, but I'd like to point out a separate flaw in your logic: Why add more complications so that \"\"should I call this principal or interest\"\" actually makes a difference? Why's the point (incentive) for this? The incentive is that using excess payments to credit payments due in the future rather than applying it to outstanding principal is more lucrative for the lender. Since it's more lucrative and there's no law against it most (all) lenders use it as the default setting.\"",
"title": ""
},
{
"docid": "6933bbfd0b40ce34f74b37a9feceb427",
"text": "The problem comes when the borrower cannot afford his home. If a borrower buys more home than they can afford, as long as he can sell the house for more than he owes, he's not in a disastrous situation. He can sell the house, pay off the mortgage, and choose more affordable housing instead. If he is upside-down on his home, he doesn't have that option. He's stuck in his home. If he sells it, he will have to come up with extra money to pay off the mortgage (which he doesn't have, because he is in a home he can't afford). It used to be commonplace for banks to issue mortgages for 100% of the value of the home. As long as the home keeps appreciating, everybody is happy. But if the house drops in value and the homeowner finds himself unable to make house payments, both the homeowner and the bank are at risk. Recent regulations in the U.S. have made no-down-payment mortgages less common.",
"title": ""
},
{
"docid": "6767c66274c2315423cadd3711bfb23c",
"text": "I would say generally, the answer is No. There might be some short term relief to people in certain situations, but generally speaking you sign a contract to borrow money and you are responsible to pay. This is why home loans offer better terms then auto loans, and auto loans better than credit cards or things like furniture. The better terms offer less risk to the lender because there are assets that can be repossessed. Homes retain values better than autos, autos better than furniture, and credit cards are not secured at all. People are not as helpless as your question suggests. Sure a person might lose their high paying job, but could they still make a mortgage payment if they worked really hard at it? This might mean taking several part time jobs. Now if a person buys a home that has a very large mortgage payment this might not be possible. However, wise people don't buy every bit of house they can afford. People should also be wise about the kinds of mortgages they use to buy a home. Many people lost their homes due to missing a payment on their interest only loan. Penalty rates and fees jacked up their payment, that was way beyond their means. If they had a fixed rate loan the chance to catch up would have not been impossible. Perhaps an injury might prevent a person from working. This is why long term disability insurance is a must for most people. You can buy quite a bit of coverage for not very much money. Typical US households have quite a bit of debt. Car payments, phone payments, and either a mortgage or rent, and of course credit cards. If income is drastically reduced making all of those payments becomes next to impossible. Which one gets paid first. Just this last week, I attempted to help a client in just this situation. They foolishly chose to pay the credit card first, and were going to pay the house payment last (if there was anything left over). There wasn't, and they are risking eviction (renters). People finding themselves in crisis, generally do a poor job of paying the most important things first. Basic food first, housing and utilities second, etc... Let the credit card slip if need be no matter how often one is threatened by creditors. They do this to maintain their credit score, how foolish. I feel like you have a sense of bondage associated with debt. It is there and real despite many people noticing it. There is also the fact that compounding interest is working against you and with your labor you are enriching the bank. This is a great reason to have the goal of living a debt free life. I can tell you it is quite liberating.",
"title": ""
},
{
"docid": "0d6eaeb4ba54c786c2800de434892ca9",
"text": "\"I'm going to give a simpler answer than some of the others, although somewhat more limited: the complicated loan parameters you describe benefit the lender. I'll focus on this part of your question: You should be able to pay back whenever; what's the point of an arbitrary timeline? Here \"\"you\"\" refers to the borrower. Sure, yes, it would be great for the borrower to be able to do whatever they want whenever they want, increasing or decreasing the loan balance by paying or not paying arbitrary amounts at their whim. But it doesn't benefit the lender to let the borrower do this. Adding various kinds of restrictions and extra conditions to the loan reduces the lender's uncertainty about when they'll be receiving money, and also gives them a greater range of legal recourse to get it sooner (since they can pursue the borrower right away if they violate any of the conditions, rather than having the wait until they die without having paid their debt). Then you say: And if you want, you can set a legal deadline. But the mere deadline in the contract doesn't affect how much interest is paid—the interest is only affected by how much money is borrowed and how long has passed. I think in many cases that is in fact how it works, or at least it is more how it works than you seem to think. For instance, you can take out a 30-year loan but pay it off in less than 30 years, and the amount you pay will be less if you pay it off sooner. However, in some cases the lender will charge you a penalty for doing so. The reason is the same as above: if you pay off the loan sooner, you are paying less interest, which is worse for the lender. Again, it would be nice for the borrower if they could just pay it off sooner with no penalty, but the lender has no reason to let them do so. I think there are in fact other explanations for these more complicated loan terms that do benefit the borrower. For instance, an amortization schedule with clearly defined monthly payments and proportions going to interest and principal also reduces the borrower's uncertainty, and makes them less likely to do risky things like skip lots of payments intending to make it up later. It gives them a clear number to budget from. But even aside from all that, I think the clearest answer to your question is what I said above: in general, it benefits the lender to attach conditions and parameters to loans in order to have many opportunities to penalize the borrower for making it hard for the lender to predict their cash flow.\"",
"title": ""
},
{
"docid": "4d117fa1cc11e115832fee5e4fb4bbb1",
"text": "\"Good debt and \"\"Bad debt\"\" are just judgement calls. Each person has their own opinion on when it is acceptable to borrow money for something, and when it is not. For some, it is never acceptable to borrow money for something; they won't even borrow money to buy a house. Others, of course, are in debt up to their eyeballs. All debt costs money in interest. So when evaluating whether to borrow or not, you need to ask yourself, \"\"Is the benefit I am getting by borrowing this money worth the cost?\"\" Home ownership has a lot of advantages: For many, these advantages, coupled with the facts that home mortgages are available at extremely low interest rates and that home mortgage interest is tax-deductible (in the U.S.), make home mortgages \"\"worth it\"\" in the eyes of many. Contrast that with car ownership: For these reasons, there are many people who consider the idea of borrowing money to purchase a car a bad idea. I have written an answer on another question which outlines a few reasons why it is better to pay cash for a car.\"",
"title": ""
},
{
"docid": "08fb6d65d0231a99af8117233afd3ed3",
"text": "As mentioned, the main advantage of a 15-year loan compared to a 30-year loan is that the 15-year loan should come at a discounted rate. All things equal, the main advantage of the 30-year loan is that the payment is lower. A completely different argument from what you are hearing is that if you can get a low interest rate, you should get the longest loan possible. It seem unlikely that interest rates are going to get much lower than they are and it's far more likely that they will get higher. In 15 years, if interest rates are back up around 6% or more (where they were when I bought my first home) and you are 15 years into a 30 year mortgage, you'll being enjoying an interest rate that no one can get. You need to keep in mind that as the loan is paid off, you will earn exactly 0% on the principal you've paid. If for some reason the value of the home drops, you lose that portion of the principal. The only way you can get access to that capital is to sell the house. You (generally) can't sell part of the house to send a kid to college. You can take out another mortgage but it is going to be at the current going rate which is likely higher than current rates. Another thing to consider that over the course of 30 years, inflation is going to make a fixed payment cheaper over time. Let's say you make $60K and you have a monthly payment of $1000 or 20% of your annual income. In 15 years at a 1% annualized wage growth rate, it will be 17% of your income. If you get a few raises or inflation jumps up, it will be a lot more than that. For example, at a 2% annualized growth rate, it's only 15% of your income after 15 years. In places where long-term fixed rates are not available, shorter mortgages are common because of the risk of higher rates later. It's also more common to pay them off early for the same reason. Taking on a higher payment to pay off the loan early only really only helps you if you can get through the entire payment and 15 years is still a long way off. Then if you lose your job then, you only have to worry about taxes and upkeep but that means you can still lose the home. If you instead take the extra money and keep a rainy day fund, you'll have access to that money if you hit a rough patch. If you put all of your extra cash in the house, you'll be forced to sell if you need that capital and it may not be at the best time. You might not even be able to pay off the loan at the current market value. My father took out a 30 year loan and followed the advice of an older coworker to 'buy as much house as possible because inflation will pay for it'. By the end of the loan, he was paying something like $250 a month and the house was worth upwards of $200K. That is, his mortgage payment was less than the payment on a cheap car. It was an insignificant cost compared to his income and he had been able to invest enough to retire in comfort. Of course when he bought it, inflation was above 10% so it's bit different today but the same concepts still apply, just different numbers. I personally would not take anything less than a 30 year loan at current rates unless I planned to retire in 15 years.",
"title": ""
},
{
"docid": "e4ad5de991424ab48e01a72ac5cbd3ac",
"text": "\"I'll assume you live in the US for the start of my answer - Do you maximize your retirement savings at work, at least getting your employer's match in full, if they do this. Do you have any other debt that's at a higher rate? Is your emergency account funded to your satisfaction? If you lost your job and tenant on the same day, how long before you were in trouble? The \"\"pay early\"\" question seems to hit an emotional nerve with most people. While I start with the above and then segue to \"\"would you be happy with a long term 5% return?\"\" there's one major point not to miss - money paid to either mortgage isn't liquid. The idea of owing out no money at all is great, but paying anything less than \"\"paid in full\"\" leaves you still owing that monthly payment. You can send $400K against your $500K mortgage, and still owe $3K per month until paid. And if you lose your job, you may not so easily refinance the remaining $100K to a lower payment so easily. If your goal is to continue with real estate, you don't prepay, you save cash for the next deal. Don't know if that was your intent at some point. Disclosure - my situation - Maxing out retirement accounts was my priority, then saving for college. Over the years, I had multiple refinances, each of which was a no-cost deal. The first refi saved with a lower rate. The second, was in early 2000s when back interest was so low I took a chunk of cash, paid principal down and went to a 20yr from the original 30. The kid starts college, and we target retirement in 6 years. I am paying the mortgage (now 2 years into a 10yr) to be done the month before the kid flies out. If I were younger, I'd be at the start of a new 30 yr at the recent 4.5% bottom. I think that a cost of near 3% after tax, and inflation soon to near/exceed 3% makes borrowing free, and I can invest conservatively in stocks that will have a dividend yield above this. Jane and I discussed the plan, and agree to retire mortgage free.\"",
"title": ""
},
{
"docid": "42da4b05ea23c29486c6dcf00ec57ed6",
"text": "\"Math says invest in the Market (But paying off your mortgage early is a valid option if you are very risk averse.) You are going to get a better return by investing in the stock market. In the US in 2015/2016, mortgages are 3%-4%, and give you a tax break. The rate of return on the stock market is ~10%, (closer to 6% after you subtract out inflation, taxes, fees, etc.) Since 10 > 3, (or 6% > 4%, to use the pessimistic numbers) investing in the market is the better deal. But... The market has risk, and your mortgage does not. If you are very risk averse paying off the mortgage may make sense. As an example: Family A has a single \"\"breadwinner\"\", who works a low skilled job. Family B has 2 working spouses, both in high skill white collar positions. These two families are going to have wildly different risk tolerances. It may make sense for family A to \"\"invest\"\" its extra money in paying off the mortgage, after they have tackled high interest debt, built an emergency fund, maxed the 401k, etc. Personally I would not: in the US you cannot recoup pre-payments if you lose your job. If I was very risk averse, I would keep my extra money as cash, so I could pay my mortgage after I lost my job. It is never going to make sense for family B to pay the mortgage early. At that point, any decision to pre-pay is going to be based on emotion and not logic.\"",
"title": ""
},
{
"docid": "6da16e402bf9c3b83f7e5d828925194f",
"text": "\"Pete and Noah addressed the math, showing how this is, in effect, converting a 30yr to a ~23yr mortgage, at a cost, plus payment about 8% higher (1 extra payment per year). No magic there. The real issue, as I see it, is whether this is the best use of the money. Keep in mind, once you pay extra principal, which in effect is exactly what this is, it's not easy to get it back. As long as you have any mortgage at all, you have the need for liquidity, enough to pay your mortgage, tax, utilities, etc, if you find yourself between jobs or to get through any short term crisis. I've seen people choose the \"\"sure thing\"\" prepayment VS the \"\"risky\"\" 401(k) deposit. Ignoring a match is passing up a 50% or 100% return in most cases. Too good to pass up. 2 points to add - I avoided the further tangent of the tax benefit of IRA/401(k) deposits. It's too long a discussion, today's rate for the money saved, vs the rate on withdrawal. Worth considering, but not part of my answer. The other discussion I avoid is Nicholas' thoughts on the long term market return of 10% vs today's ~4% mortgage rate. This has been debated elsewhere and morphs into a \"\"pre-pay vs invest\"\" question.\"",
"title": ""
},
{
"docid": "f31da463ed6f2eab4dc16b96c69531c7",
"text": "But now you have cash on hand that wasn't used to pay debt, no change in net worth. In fact, if you refuse to pay your mortgage for two years until you're kicked out of your underwater house, your net worth goes up.",
"title": ""
},
{
"docid": "6787c5a4ece0bd9aca6d411366063770",
"text": "While, from a money-saving standpoint, the obviously-right course of action is to make only the minimum payment on the 0% loan, there are potentially legal reasons to try to pay off a car loan early. With a mortgage, you are the legal owner of the property and any action by the lender beyond imposing fees (e.g. foreclosure) requires going through the proper legal channels. On the other hand, in most jurisdictions, you are not the legal owner of a car purchased on a loan, and a missed or even lost payment can result in repossession without the lender even having to go to court. So from a risk-aversion standpoint, there's something to be said for getting rid of car loans as soon as you can.",
"title": ""
}
] | fiqa |
00de32fd55d48a38a9f8beb4dd7c1cee | How to take advantage of record high household debt in Canada? | [
{
"docid": "5be0a104f173e9ba6adf44ea52192025",
"text": "Some ideas:",
"title": ""
}
] | [
{
"docid": "556d779950d628f3bdb98b63bbbf4757",
"text": "If you can get a rate of savings that is higher than your debt, you save. If you can't then you pay off your debt. That makes the most of the money you have. Also to think about: what are you goals? Do you want to own a home, start a family, further your education, move to a new town? All of these you would need to save up for. If you can do these large transactions in cash you will be better off. If it were me I would do what I think is a parroting of Dave Ramsay's advice Congratulations by the way. It isn't easy to do what you have accomplished and you will lead a simpler life if you don't have to worry about money everyday.",
"title": ""
},
{
"docid": "3ada33136c3e39a4d2c087d8d89a4ef3",
"text": "If you are now in a better position to pay your debts, the wise move for your long-term credit is to consolidate any high-interest debt that remains and pay it off as quickly as possible. This may not be possible depending on your situation, but one way to get such consolidation loans is to have a parent with good credit cosign as guarantor on the consolidation loan. The only way your credit will recover is if you establish a good history of payments over the next seven years. Frankly I wouldn't cosign a loan with a family member who made the same decisions you have made, because I wouldn't want to put my own credit at risk, but I might loan the money directly, which would ease the pain for that family member, but it wouldn't help their credit going forward. This may not be a popular opinion, but without any details, it's hard for me to agree that any of your creditors are being greedy when they threaten a judgment. They loaned you the money in good faith, and now you are attempting to negotiate a change of terms. Are they greedy because the interest rates are too high? Maybe you were a bad risk when they loaned the money and the rates reflected the risk of losing some portion of the money. The fact that you are trying to discharge some portion of that debt vindicates any high rates charged.",
"title": ""
},
{
"docid": "c9e79c3970a82e9d968dd3eaf9229e54",
"text": "\"This is the kind of scenario addressed by Reddit's /r/personalfinance Prime Directive, or \"\"I have $X, what should I do with it?\"\" It follows a fairly linear flowchart for personal spending beginning with a budget and essential costs. The gist of the flowchart is to cover your most immediate costs and risks first, while also maximizing your benefits. It sounds like you would fall somewhere around steps 1 and 3. (Step 2 won't apply since this is not pretax income.) If you don't already have at least $1000 reserved in an emergency fund, that's a great place to start. After that, you'll want to use the rest to pay down your debt. Your credit card debt is very high interest and should be treated as a financial emergency. Besides the balance of your gift, you may want to throw whatever other funds you have saved beyond one month's expenses at this problem. As far as which card, since you have multiple debts you're faced with the classic choice of which payoff method to use: snowball (lowest balance first) or avalanche (highest interest rate first). Avalanche is more financially optimal but less immediately gratifying. Personally, since your 26% APR debt is so large and so high interest, I would recommend focusing every available penny on that card until it is paid off, and then never use it again. Again, per the flowchart, that means using everything left over after steps 0-2 are fulfilled.\"",
"title": ""
},
{
"docid": "a7f7384d35c387d2c34d790377bb93df",
"text": "\"This scheme doesn't work, because the combination of corporation tax, even the lower CCPC tax, plus the personal income tax doesn't give you a tax advantage, not on any realistic income I've ever worked it out on anyway. Prior to the 2014 tax year on lower incomes you could scrape a bit of an advantage but the 2013 budget changed the calculation for the tax credit on non-eligible dividends so there shouldn't be an advantage anymore. Moreover if you were to do it this way, by paying corporation tax instead of CPP you aren't eligible for CPP. If you sit with a calculator for long enough you may figure out a way of saving $200 or something small but it's a lot of paperwork for little if any benefit and you wouldn't get CPP. I understand the money multiplier effect described above, but the tax system is designed in a way that it makes more sense to take it as salary and put it in a tax deferred saving account, i.e. an RRSP - so there's no limit on the multiplier effect. Like I said, sit with a calculator - if you're earning a really large amount and are still under the small business limit it may make more sense to use a CCPC, but that is the case regardless of using it as a tax shelter because if you're earning a lot you're probably running a business of some size. The main benefit I think is that if you use a CCPC you can carry forward your losses, but you have to be aware of the definition of an \"\"allowable business investment loss\"\".\"",
"title": ""
},
{
"docid": "6f4bbf70788e0c7639aa06a94221cde8",
"text": "\"You have a few options, none of which are trade off free: Apply for a credit card, and live off of that. Here, of course, you will go into debt, and there are minimums to pay. But, it will tide you over. In any case, you are getting unsecured credit, so your rates will probably be very, very high. You don't want to build up a lot of 20% per annum debt. An alternative to this would be to go to any bank and ask for an unsecured loan. Having no income, it will be difficult, though not necessarily impossible, to secure some funds. When I was in between houses, once, for example, I was able to borrow $30,000 in unsecured debt (to help me construct my new house!), just based on my income. Grant you, I paid it 2 months later, in order to avoid the 10% / year interest, but the point is that unsecured debt does exist. Credit Cards are easier to get. Arrange for personal financing through your parents or other relatives. If your parents can send you remittances, the terms will most likely be more generous. They know your credit and your true ability to repay. Just because they send you money doesn't mean you have to live with them. As a parent, I have a stake in ensuring my children's success. If I think that tiding them over briefly is in their best interest and mine, you better be sure I'll do it. A variation on this is Microfinance - something like Kiva. Here, if you can write up a story compelling enough to get finance, there are people who might lend you money. Kiva is normally directed towards poorer countries and entrepeneurs - but local variations exist. UPDATE: Google-backed 'LendingClub.com is far more appropriate to this situation than Kiva. Same general idea, but that's the vendor. Find freelance, contract, or light employment. Your concern about employment is justified - you don't want to be in a position where you are unable to travel to an interview because Starbucks or McDonalds will fire you if you don't show up for a shift. (Then again, do you really care if McDonald's lets you go?) As such, you need to find income that is less bound by schedule. Freelance work, in particular, will give you that freedom - assuming you have a skill you can trade. Likewise, short term contract work is equally flexible - usually. Finally, it may be easiest just to get temporary pickup work in a service capacity. In any event, doing something will be better than doing nothing. Who knows, you might want to be a manager / owner of a McDonalds some day. Wouldn't hurt to say, \"\"I started at the bottom.\"\"\"",
"title": ""
},
{
"docid": "336c242807b2a76919c7656d1e3db6e5",
"text": "I see some merit in the other answers, which are all based on the snowball method. However, I would like to present an alternative approach which would be the optimal way in case you have perfect self-control. (Given your amount of debt, most likely you currently do not have perfect self-control, but we will come to that.) The first step is to think about what the minimum amount of emergency funds are that you need and to compare this number with your credit card limit. If your limits are such that your credit cards can still cover potential emergency expenses, use all of the 4000$ to repay the debt on the loan with the higher interest rate. Some answer wrote that Others may disagree as it is more efficient to pay down the 26%er. However, if you pay it all of within the year the difference only comes to $260. This is bad advice because you will probably not pay back the loan within one year. Where would you miraculously obtain 20 000$ for that? Thus, paying back the higher interest loan will save you more money than just 260$. Next, follow @Chris 's advice and refinance your debt under a lower rate. This is much more impactful than choosing the right loan to repay. Make sure to consult with different banks to get the best rate. Reducing your interest rate has utmost priority! From your accumulated debt we can probably infer that you do not have perfect self-control and will be able to minimize your spending/maximize your debt repayments. Thus, you need to incentivize yourself to follow such behavior. A powerful way to do this is to have a family member or very close friend monitor your purchase and saving behavior. If you cannot control yourself, someone else must. It should rather be a a person you trust than the banks you owe money.",
"title": ""
},
{
"docid": "6c8849a352fb9477a84f1711a4dafd30",
"text": "\"Two suggestions: I don't know if you have them in South Africa, but here we have some TV reality shows where a credit consultant visits a family that is deeply in debt and advises them on how to get out of it. The advice isn't very sophisticated, but it does show the personal impact on a family and what is likely to happen to them in the future. \"\"All Maxed Out\"\" is the name of the one I remember. \"\"Till Debt Us Do Part\"\" is another, which focusses on married couples and the stress debt puts on a marriage. If you can find a similar one, loan him a few episodes. Alternatively, how about getting him to a professional debt counsellor?\"",
"title": ""
},
{
"docid": "eef055196175fbe5e94619b63cc7600b",
"text": "\"My recommendation is to pay off your student loans as quickly as possible. It sounds like you're already doing this but don't incur any other large debts until you have this taken care of. I'd also recommend not buying a car, especially an expensive one, on credit or lease either. Back during the dotcom boom I and many friends bought or leased expensive cars only to lose them or struggle paying for them when the bottom dropped out. A car instantly depreciates and it's quite rare for them to ever gain value again. Stick with reliable, older, used cars that you can purchase for cash. If you do borrow for a car, shop around for the best deal and avoid 3+ year terms if at all possible. Don't lease unless you have a business structure where this might create a clear financial advantage. Avoid credit cards as much as possible although if you do plan to buy a house with a mortgage you'll need to maintain some credit history. If you have the discipline to keep your balance small and paid down you can use a credit card to build credit history. However, these things can quickly get out of hand and you'll wonder why you suddenly owe $10K, $20K or even more on them so be very careful with them. As for the house (speaking of US markets here), save up for at least a 20% down payment if you can. Based on what you said, this would be about $20-25K. This will give you a lot more flexibility to take advantage of deals that might come your way, even if you don't put it all into the house. \"\"Stretching\"\" to buy a house that's too expensive can quickly lead to financial ruin. As for house size, I recommend purchasing a 4 bedroom house even if you aren't planning on kids right away. It will resell better and you'll appreciate having the extra space for storage, home office, hobbies, etc. Also, life has a way of changing your plans for having kids and such.\"",
"title": ""
},
{
"docid": "cd09e8a1db0d28c7d37ad2059e0bdf28",
"text": "\"I would advise against \"\"wasting\"\" this rare opportunity on mundane things, like by paying off debts or buying toys - You can always pay those from your wages. Plus, you'll inevitably accumulate new debts over time, so debt repayment is an ongoing concern. This large pile of cash allows you to do things you can't ordinarily do, so use the opportunity to invest. Buy a house, then rent it out. Rent an apartment for yourself. The house rent will pay most (maybe all) of the mortgage, plus the mortgage interest is tax-deductible, so you get a lower tax bill. And houses appreciate over time, so that's an added bonus. When you get married, and start a family, you'll have a house ready for you, partially paid off with other people's money.\"",
"title": ""
},
{
"docid": "ab84c1c48204e90c8b1eeb4ce4868857",
"text": "It's very simple, line up your debt in the order of interest rate, tax adjusted, and start with the highest rate. Too simple? If knocking off the $7500 loan feels better to you than the fact that you are still paying 9% on $7500 (as part of the $20K) makes you feel bad, just pay off the $7500. I'd rather be ahead $210/yr. (A celebrity advocates the small wins promoting good feelings and encouragement. If that actually works for some, I won't criticize it here) If freeing up the $200/mo payment enables you to do something else that's beneficial, that's another story. I've written how $10,000 of student loan can keep you from qualifying for $30K or more of mortgage. In isolation, highest rate. With the rest of the picture, other advice might be more suitable. Welcome to Money.SE",
"title": ""
},
{
"docid": "4b65a7bc2e4502b2f706e84c5fc12f04",
"text": "\"As THEAO suggested, tracking spending is a great start. But how about this - Figure out the payment needed to get to zero debt in a reasonable time, 24 months, perhaps. If that's more than 15% of your income, maybe stretch a tiny bit to 30 months. If it's much less, send 15% to debt until it's paid, then flip the money to savings. From what's left, first budget the \"\"needs,\"\" rent, utilities, etc. Whatever you spend on food, try to cut back 10%. There is no budget for entertainment or clothes. The whole point is one must either live beneath their means, or increase their income. You've seen what can happen when the debt snowballs. In reality, with no debt to service and the savings growing, you'll find a way to prioritize spending. Some months you'll have to choose, dinner out, or a show. I agree with Keith's food bill, $300-$400/mo for 3 of us. Months with a holiday and large guest list throws that off, of course.\"",
"title": ""
},
{
"docid": "0933048f289c21eb3a5c4a85958f3908",
"text": "\"Understand your own risk tolerance and discipline. From Moneychimp we can see different market results - This is a 15 year span, containing what was arguably one of the most awful decades going. A full 10 year period with a negative return. Yet, the 15 year return was a 6.65% CAGR. You'd net 5.65% after long term cap gains. Your mortgage is likely costing ~4% or 3% after tax (This is not applicable to my Canadian friends, I understand you don't deduct interest). In my not so humble opinion, I'd pay off the highest rate debts first (unlike The David followers who are happy to pay off tens of thousands of dollars in 0% interest debt before the large 18% debt) and invest at the highest rate I'd get long term. The problem is knowing when to flip from one to the other. Here's food for thought - The David insists on his use of the 12% long term market return. The last 100 years have had an average 11.96% return, but you can't spend average, the CAGR, the real compound rate was 10.06%. Why would he recommend paying off a sub 3% loan while using 12% for his long term planning (All my David remarks are not applicable to Canadian members, you all probably know better than to listen to US entertainers)? I am retired, and put my money where my mouth is. The $200K I still owe on my mortgage is offset by over $400K in my 401(k). The money went in at 25%/28% pretax, has grown over these past 20 years, and comes out at 15% to pay my mortgage each month. No regrets. Anyone starting out now, and taking a 30 year mortgage, but putting the delta to a 15 year mortgage payment into their 401(k) is nearly certain to have far more in the retirement account 15 years hence than their remaining balance on the loan, even after taxes are considered. Even more if this money helps them to get the full matching, which too many miss. All that said, keep in mind, the market is likely to see a correction or two in the next 15 years, one of which may be painful. If that would keep you up at night, don't listen to me. If a fixed return of 4% seems more appealing than a 10% return with a 15% standard deviation, pay the mortgage first. Last - if you have a paid off house but no job, the town still wants its property tax, and the utilities still need to be paid. If you lose your job with $400K in your 401(k)/IRA but have a $200K mortgage, you have a lot of time to find a new job or sell the house with little pressure from the debt collectors. (To answer the question in advance - \"\"Joe, at what mortgage rate do you pay it off first?\"\" Good question. I'd deposit to my 401(k) to grab matching deposits first, and then if the mortgage was anywhere north of 6%, prioritize that. This would keep my chances at near 100% of coming out ahead.)\"",
"title": ""
},
{
"docid": "5334ecb10e7edc640226aeaf0b65475b",
"text": "\"I'm a little confused on the use of the property today. Is this place going to be a personal residence for you for now and become a rental later (after the mortgage is paid off)? It does make a difference. If you can buy the house and a 100% LTV loan would cost less than 125% of comparable rent ... then buy the house, put as little of your own cash into it as possible and stretch the terms as long as possible. Scott W is correct on a number of counts. The \"\"cost\"\" of the mortgage is the after tax cost of the payments and when that money is put to work in a well-managed portfolio, it should do better over the long haul. Don't try for big gains because doing so adds to the risk that you'll end up worse off. If you borrow money at an after-tax cost of 4% and make 6% after taxes ... you end up ahead and build wealth. A vast majority of the wealthiest people use this arbitrage to continue to build wealth. They have plenty of money to pay off mortgages, but choose not to. $200,000 at 2% is an extra $4000 per year. Compounded at a 7% rate ... it adds up to $180k after 20 years ... not exactly chump change. Money in an investment account is accessible when you need it. Money in home equity is not, has a zero rate of return (before inflation) and is not accessible except through another loan at the bank's whim. If you lose your job and your home is close to paid off but isn't yet, you could have a serious liquidity issue. NOW ... if a 100% mortgage would cost MORE than 125% of comparable rent, then there should be no deal. You are looking at a crappy investment. It is cheaper and better just to rent. I don't care if prices are going up right now. Prices move around. Just because Canada hasn't seen the value drops like in the US so far doesn't mean it can't happen in the future. If comparable rents don't validate the price with a good margin for profit for an investor, then prices are frothy and cannot be trusted and you should lower your monthly costs by renting rather than buying. That $350 per month you could save in \"\"rent\"\" adds up just as much as the $4000 per year in arbitrage. For rentals, you should only pull the trigger when you can do the purchase without leverage and STILL get a 10% CAP rate or higher (rate of return after taxes, insurance and other fixed costs). That way if the rental rates drop (and again that is quite possible), you would lose some of your profit but not all of it. If you leverage the property, there is a high probability that you could wind up losing money as rents fall and you have to cover the mortgage out of nonexistent cash flow. I know somebody is going to say, \"\"But John, 10% CAP on rental real estate? That's just not possible around here.\"\" That may be the case. It IS possible somewhere. I have clients buying property in Arizona, New Mexico, Alberta, Michigan and even California who are finding 10% CAP rate properties. They do exist. They just aren't everywhere. If you want to add leverage to the rental picture to improve the return, then do so understanding the risks. He who lives by the leverage sword, dies by the leverage sword. Down here in the US, the real estate market is littered with corpses of people who thought they could handle that leverage sword. It is a gory, ugly mess.\"",
"title": ""
},
{
"docid": "2f40189b9cd717786307791d9cf438e9",
"text": "\"I'd like to see a credible source for \"\"the highest\"\", but it's certainly fairly high. Household debt could be broadly categorized as debt for housing and debt for consumption. Housing prices seem very high compared to equivalent rental income. This is generating a great deal of debt. Keynes(?) said that \"\"if something cannot go on forever, it will stop.\"\" Just when it will stop, and whether it will stop suddenly or gradually is a matter of great interest. Obviously there are huge vested interests, including the large fraction of the population who already own property and do not wish to see it fall. Nobody really knows; my guess would be on a very-long-term plateau in nominal prices and decline in real prices. The Australian stock market is unlike the US: since it's a small country, a lot of the big companies are export-driven, either by directly exporting physical goods (miners, agriculture) or by FDI (property trusts, banks). So a local recession will hurt the stock market, but not across the board. A decline in the value of the Australian dollar would be very good news for some of these companies. Debt for consumption I think is the smaller fraction. Arguably it's driven by a wealth effect of Australia having had a reasonably good crisis with low unemployment and increasing international purchasing power. If this tops out, you'd expect to see reduced earnings for consumer discretionary companies.\"",
"title": ""
},
{
"docid": "51c97062f6e948df006f5fb2e8511fa4",
"text": "\"Some very general advice. Lifestyle borrowing is almost always a bad idea. You should limit your borrowing to where it is an investment decision or where it is necessary and avoid it when it is a lifestyle choice. For example, many people need to borrow to have a car/house/education or go without. Also, if you are unemployed for a long period of time and can't find work, charging up the credit cards seems very reasonable. However, for things like entertainment, travel, and other nice-to-haves can easily become a road to crushing debt. If you don't have the cash for these types of things, my suggestion is to put off the purchase until you do. Note: I am not including credit cards that you pay off in full at the end of the month or credit used as a convenience as \"\"borrowing\"\"\"",
"title": ""
}
] | fiqa |
32cf47ccab147cb78c1cf3b72005c626 | What are the downsides that prevent more people from working in high-income countries, and then retiring in low-income (and cost of living) ones? | [
{
"docid": "ec7a96693ca65aa885de59ddd1eb7c0e",
"text": "\"There are two parts to the hack you describe. One is moving to a high-cost, high-pay country to work, and the other is moving to a low-cost, low-pay country to retire. As Dilip mentioned in a comment, the first part is not so easy in many cases. You can't just take a plane to the USA and start making big bucks immediately. In the first place, it's illegal to work without special visa permissions. Even if you manage to secure that permission (or take the risk of trying to work illegally), there's no guarantee you'll get a job, let alone a high-paying one. The same is true in most other high-paying countries. As for the second part, that takes considerable willpower as well. After spending X years getting used to a country, investing time and money, you must then have the resolve to uproot your life a second time and move to another country. For the most part, countries are expensive for a reason. Even if you in principle reject the cost-benefit tradeoffs of a particular country, it can be difficult to give up some of those benefits when the time comes (e.g., trains running on time, reliable electricity, donut shops, or whatever). You might \"\"get soft\"\" or become co-opted by the rich-country rat race and find it difficult to extricate yourself. All of these problems are compounded if, as in many cases, you happened to start a family while in the expensive country. At the least, moving would require uprooting not just you but your family. Also, quality of education is often one of the main reasons people immigrate permanently to expensive countries. Even a person who personally would prefer to retire to a cheaper country may be unwilling to transplant their children into that country's education system. (Of course, they could wait until the children are self-supporting, but that makes the wait longer, and may result in them living far away from their children, which they may not want.) As JoeTaxpayer notes, the same reasons may work on smaller levels, even within a country. In theory it's perfectly possible to power through a brief, lucrative career in Silicon Valley and then retire to Idaho, but it doesn't seem to happen as often as the plain numbers might suggest. A simple way to put it might be that the kind of person who would be happy living in a cheap environment often cannot or will not endure a lengthy \"\"tour of duty\"\" in an expensive environment. Either you like the expensive environment and stay, or you leave, not as a planned lifehack, but because you realize you don't like it.\"",
"title": ""
},
{
"docid": "37c05107be7bdf0be738b728398db828",
"text": "I was at a restaurant in NYC, 1st Avenue and 63rd street. I don't recall how the conversation started, but the woman at the next table remarked how none of her friends from the West side, 9th avenue or thereabout, would visit her. Less than 2 miles away, yet in their minds, too far. Your question isn't likely to be answered with facts, but opinion. In this case an anecdote. Human nature is such that a good number of people have a small geographic circle of comfort. Of course some do exactly as you suggest. But not the majority.",
"title": ""
},
{
"docid": "1b314bf9393bf0fc7e6c3ed56b45a664",
"text": "At retirement age, your life priorities are somewhat different, and two key items come to mind. Your social circle, community and extended family contacts are highly related with your lifespan at retirement age. Loneliness kills, literally. Long distance relocation would weaken those ties exactly at the time when you most need and want them. You are also likely to need at least occasional physical assistance at random times, so living in a spot where none your friends&family can visit at a day's notice is hard. Cheaper living locations tend to have worse healthcare. Again, this doesn't matter much for a 25 year old expat, but at an age where you likely have one or multiple chronic diseases, general frailty and a very frequent need for healthcare this is a priority. This might work if you can do it as a family. I met a retired British couple in southern India, and they had a nice system where they were living in UK during the (UK) summer, and in India for the rest of the year. However, the above concerns don't disappear - when at a later time their health deterioates and one of them dies, then it would probably be better for the widow[er] to stay in UK permanently closer to their extended family and with the local healthcare system.",
"title": ""
},
{
"docid": "4722df0f1ad238061da904d88a4b2533",
"text": "I'm currently working as an expat, and my grandparents used to work overseas but retired to Canada so you could say my family has done things completely the opposite of what you suggest. However there are a number of very good reasons that my grandparents have done things the way we have, and I think it's worth sharing the rationale there. Low-cost moving to high-cost is a no-brainer: it's not easy to do, but many people are trying nonetheless. However, even they will be likely to stay in the high-cost countries, mostly because of health care, also safety is a factor, but social factors also matter. Firstly, I think two key factors that have been overlooked are language and health care-- most low-cost countries speak different languages than high-cost countries. This isn't a problem if you're young, but it becomes prohibitive if you are older. Even if you can manage, it's inconvenient in most countries. You can't just walk down the street and do whatever you like. You either have to keep a translator handy, or restrict your activities to places where you can communicate in your native language. Your favorite sports channels (rugby, american football etc.) might not be available, because nobody there cares. Your favorite news channel, or food (even in grocery stores) might not be so readily available. All these reasons made living abroad undesirable for my grandparents, but the big deal for them was healthcare. Outside of the US, every single developed economy has socialized healthcare to a large extent. When you're young it doesn't really matter, but when you are older, it's a constant concern! There are two aspects to healthcare-- firstly, if you are a citizen in a developed country there are significant financial benefits (In the US there is also medicare/medicaid but I don't know how those work so I'm not going to talk about that) to staying in-country when you retire, even if the health care would be more expensive- it's the government that's paying! Secondly, health care in low-cost countries tends to either be cheap and poor quality (and by poor quality I mean really, really scary!) or expensive and almost as good as a developed country. Again, high-quality hospitals in low-cost countries may still save you money, but the nurses may not speak good English and the doctors may not have a great bed-side manner. In many low-cost countries, nobody calls the police because they know the cops don't care, or will never solve the problem (i.e. they will arrive hours or days after it's too late), or the cops may even be 'in on it'. So basically you try to protect yourself from the inevitable robbery,swindle,extortion,hold-up,you-name-it but sooner or later something bad will happen. With security guards and being younger, it's less of an issue, but when you're elderly, especially if you look foreign and rich, it's definitely more dangerous. Many of my friends from low-income countries try to emigrate for this reason (and/or in combination with the political climate, which is largely corrupt and full of problems). So, if you're old, why risk it? Stay somewhere safe.",
"title": ""
},
{
"docid": "842a5b351388cef8d9c9461e5cec69c1",
"text": "\"One thing not mentioned is that in so called third world countries, a lot of \"\"stuff\"\" isn't actually less expensive. Food is almost always less expensive, housing is often less expensive, but cars, fuel, computers, smartphones, electronics, brand name clothing, shoes, cosmetics, tools, art supplies, internet service, bicycles, sporting goods and many other consumer items are typically more expensive.\"",
"title": ""
},
{
"docid": "71a0aa50312ad0c82ff4b45f4b5c1a99",
"text": "\"I should think the primary reason is due why those countries have a higher standard of salary - its not what you get, but what it buys you. In a high-salary, low-exchange-rate country like Sweden, you get a lot of services that your taxes buy you. Healthcare and quality of life in a stable country is something you want when you get old (note that your viewpoint might be very different when you're a kid). Moving to a country that has less impact on your finances is often because that country has significantly fewer services to offer. So a Swedish citizen might think about moving to a 3rd world country and find that their retirement income isn't sufficient to pay for the kind of lifestyle they actually want, such countries tend to be pleasant to live in only if you are exceptionally wealthy. Now this kind of thing does happen, but only \"\"within reason\"\", there are a number of old people who retire to the coast (in the UK at least) and many people who used to work in London who retire to the south west. For them, the idea of moving doesn't seem so bad as they are moving to areas where many other people in their situation have also moved. See Florida for an example for US citizens too.\"",
"title": ""
},
{
"docid": "4aa0a0bfdbaf89180bbdcb060b549dc8",
"text": "\"Political instability and general inability of the government to control crime, economomy, or even remain in existence, would be my greatest worry. I wouldn't want my bank account to randomly disappear, criminals to come take my stuff and/or life by force because nobody is going to stop them, or a hoarde of revolutionaries appearing at my door telling me \"\"get lost, the times they are a-changin\"\". On a whim, I tried to compare instability to cost of living. I used lowest monthly disposable income as my correlation to cost of living and the Fragile State index to measure instability. I picked the 55 lowest to get the countries with $500.00 (usd) and lower in monthly income. Those countries average out to 83.42 on the Fragile State index, which would be in the \"\"Very High Warning\"\" range and includes 18 countries in the \"\"Alert\"\", \"\"High Alert\"\", or \"\"Very High Alert\"\" status. Obviously, there is some subjectivity in an attempt to measure something in as broad a term as \"\"fragile state\"\", but it illustrates it's point well enough. Sources: http://en.wikipedia.org/wiki/List_of_countries_by_Fragile_States_Index http://www.nationmaster.com/country-info/stats/Cost-of-living/Average-monthly-disposable-salary/After-tax\"",
"title": ""
},
{
"docid": "81772a0c0197ace840d55cb37d1ca0f5",
"text": "I know folks who considered retiring to another country. Their conclusion was that while base cost of living was lower, the cost of the things that they enjoy doing -- not to mention the cost of spending time with friends they didn't want to give up -- would be sufficiently higher to erase most of the advantages. Those of us who grew up in or close to cities feel much the same way about moving out to less-populated and less-expensive parts of our own country. Basically, when cost of living is high it tends to be because there are more people who want to live there and are competing for resources (and driving prices up). Low cost of living is generally tied to less-desired locations, for the same reasons. IF you can find a location that appeals to you, and if you can get the resources there which your preferred lifestyle requires, this may make sense. For a while there were a number of professional writers moving from the US to Ireland, in part because the Irish tax structure heavily favored writers and other creative artists. (Katherine Kurtz spent several years living in a renovated Irish castle.) I'm not sure how many have stayed there after the novelty wore off.",
"title": ""
},
{
"docid": "5bcb0c1de1eb32429119e19110d75852",
"text": "A lot of good answers, but there’s one more factor: ignorance. The majority haven’t considered it, or considered it and assumed it’s not an option without investigating. PLUS, the widespread myth that every other country is primitive, unhealthy, and dangerous.",
"title": ""
}
] | [
{
"docid": "176edc9065bac5e5c2b6e0bd9ca7c1ad",
"text": "Well, if you worked in the United States you have social security, and medicare and medicaid in most cases as well. So you have a small amount of income to spend every month to cover your most basic living expenses, as well as your basic medical expenses. At least, that's the idea. In reality, it probably isn't anywhere near enough money for most to live comfortably. Also, there is a real fear that the US will have to inflate itself out of its debt to some extent in the future. This theory implies that the money retired individuals have saved or are receiving down the road could buy significantly less in the future than they expect. If you have the ability to put money away into an IRA or 401K early in your life, it will be greatly beneficial to do so. However, that is another issue I won't begin to discuss fully here. Edit since your question was restated after I typed my initial response, the final answer is: You will receive some assistance from Social Security, Medicare, and Medicaid. You will most likely need to either continue working, draw on savings such as an IRA or 401k, or will need assistance from others. If none of those are options, you would most likely end up living in poverty or worse.",
"title": ""
},
{
"docid": "97dd95216f61b7b4ca84a94b66c47844",
"text": "There are a lot of forces at play here, one of which is addressed in your second bullet point. Housing, transportation, food, and healthcare are pretty much the staple expenses of a modern day human. While these expenses all have a range from minimum required to function and luxurious all humans incur these costs. The lower rung wage earners earn an amount closer to their actual costs than higher earners. As income scales up these expenses typically also scale up with different lifestyle choices. There reaches a breaking point though where is so much excess to your income that you begin meaningfully spending on investments; you may also begin to take a meaningful portion of your compensation in securities rather than currency. In times where the economy is booming, folks who hold assets in securities rather than currency really win. In 2008 people in that highest rung really took a wealth hit (and probably an income hit).",
"title": ""
},
{
"docid": "ecc7cd7e9dfb44b948d3c910f7b8a2af",
"text": "Yup. Same reason why developers go to Mexico and build huge resorts in the poorest places. Then you get the people who live there to work for you for dirt-cheap because, what else are they going to do? If the per capita income is $10,000, a yearly salary of $20,000 is going to look awesome.",
"title": ""
},
{
"docid": "6133f6d083b06457fb1454a44b740a51",
"text": "These scenarios discuss the period to 2025. They assess the deep uncertainty that is paralysing decision-taking. They identify the roots of this as the failure of the social model on which the West has operated since the 1920s. Related and pending problems imply that this situation is not recoverable without major change: for example, pensions shortfalls are greater in real terms that entire expenditure on World War II, and health care and age support will treble that. Due to the prolonged recession, competition will impact complex industries earlier than expected. Social responses which seek job protection, the maintenance of welfare and also support in old age will tear at the social fabric of the industrial world. There are ways to meet this, implying a major change in approach, and a characteristic way in which to fail to respond to it in time, creating a dangerous and unstable world. The need for such change will alter the social and commercial environment very considerably. The absence of such change will alter it even more. The summary is available [here](http://www.chforum.org/scenario2012/paper-4-6.shtml) or at the foot of the link given in the header. The much richer paper is [here](http://www.chforum.org/scenario2012/paper-4-1.shtml). These scenarios are the latest in a series in a project that dates back to 1995. Over a hundred people participated from every continent, over a six month period. The working documents are available on the web.",
"title": ""
},
{
"docid": "adda4a9f88198cd8bcf8f5d44e0473bc",
"text": "Many examples in Europe and other countries have shown once you break that barrier people will go to extreme lengths to avoid it. So much so back in the 80s in the UK tax rates over 75% were imposed, needless to say when they reduced it to 40% they actually got more money. Ultimately it does more harm than good to the economy and means well paid jobs leave the country and go elsewhere. The exact same thing is happening right now with the French moving to London. http://www.bbc.co.uk/news/magazine-18234930",
"title": ""
},
{
"docid": "30ba162804859dd1871475d85a83ae6b",
"text": "To answer your question, Retirement Revolution may fit the bill to some extent. I'd also like to address some of the indirect assumptions that were made in your bullet points. I'm convinced that the best way to overcome this is not simply to hold down a good job with COLAs every year, max out your IRA accounts and 401(k)s, invest another 10-20% on top, and live off of the savings and whatever Social Security decides to pay you. Instead, the trick is to not retire -- to make a transition into an income-producing activity that can be done in the typical retirement years, hopefully one that is closer to one's calling (i.e., more fulfilling). This takes time, not money. If people just shut off the TV and spent the time building up a side business that has a high passive component, they'd stand a much better chance of not outliving their money.",
"title": ""
},
{
"docid": "0dac6b6e314f66c0706678876430085d",
"text": "Losing the manufacturing jobs is a necessary evil of any developed nation. Yes Germany is an exception but that is only because they specialise in expensive high quality items. This transition has happened before in every developed nation when manufacturing replaced agriculture as the main sector of income and the same is happening again. The key is that we have to adapt and accept that rather than fight it. Fighting this transition will simply slow progress. People simply have to retrain and adapt to a knew skill set. Yes it isn't easy but trying to artificially stop low paid jobs moving to places with a cheaper labour force is impossible. Companies have to remain globally competitive. I appreciate if everyone globally gets paid a descent salary this wouldn't be an issue. However, this is not the case and will not be any time soon. The reality is manufacturing of non luxury goods will hardly exist in developed nations and will be solely down by the likes of china and india. However give it another 20 years china will be in exactly the same boat losing their manufacturing jobs to a less developed nations or maybe robots by then.",
"title": ""
},
{
"docid": "12e9c8711f77b9ff7a4678592ba758ec",
"text": "if someone wants to retire, they can save up for it themselves. we're no longer the richest country in the world surrounded by a rest-of-the-world destroyed by world war II. big news. on average, people need to work to get by.",
"title": ""
},
{
"docid": "59d589d10cc8188fd72df234da857fcf",
"text": "That's not a valid counterpoint. It doesn't rub you the right way because it would require you to take responsibility for your own future and do the work yourself. It doesn't rub you the right way because it would mean that you couldn't blame anyone else if you weren't able to retire when you wanted to.",
"title": ""
},
{
"docid": "1866cd82c6f43cc68fab4d8acfb68c0f",
"text": "While it may look similar income and wealth inequality is not directly related H1 visa. After all, it provides someone from poorer region jobs. It has more to do with technology. Stopping H1B visa won't solve that issue.",
"title": ""
},
{
"docid": "828c11ab1a9dd388af11264f4d0f4c04",
"text": "The US is one of the only countries which taxes its citizens on global income. You're ignoring the high fixed costs of compliance with the US tax code, both for individuals and institutions. Compliance is so big an issue that foreign banks are turning away US customers rather than having to comply with FATCA, leaving people unable to open a bank account. Also, renunciations of citizenship are up something like 400%, and they aren't all billionaires.",
"title": ""
},
{
"docid": "f1e68de4d5af666c6ba83f415ec29fd4",
"text": "There are a host of programs in the US to help low/no-income seniors: Many states discount property taxes for the elderly as well. Not a dream retirement, but plenty of people are provided for without having prepared for retirement whether due to poor decisions or unfortunate circumstances.",
"title": ""
},
{
"docid": "efbadeeca682449b4fefe1f2e9aa63e6",
"text": "Indian workers are hard to manage. I work in Japan as a consultant managing offshore development projects. The Indian companies are not doing that well here. They cannot deliver, and the Indian companies themselves are very slow to move. They are not even landing the jobs because Indian expat execs are too slow. I have noticed that they are using development centers in the US and China as well to support global contracts. The reason is that Indian workers stay on the job for little longer than 3 mos before they move onto a better position. They are only interested in status climbing because the companies are nickeling and diming them while management charges much the same as a local Japanese integrators. On the few occasions they have tried to recruit me, even though I agreed to take a salary reduction (lehman shock) and meet their conditions, they were too wishy washy made the proposal late and never hired me. Overall way too flaky.",
"title": ""
},
{
"docid": "04ee203af8fe82883eda286baad2d378",
"text": "Because all things being equal, unless they can pay the new graduate significantly less (which they won't be able to do, if the Millenials are still hard up for work), then employers will likely defer to candidates that they deem to be more mature. Additionally, Millenials won't just sit around; they'll work independently, take courses at community college to advance their knowledge, etc. At this point, I'd be more concerned about what happens if the economy DOESN'T return...",
"title": ""
},
{
"docid": "d5b20e52a87063de073192df82373049",
"text": "Public sector and private industry retirement plans, taxation and estate planning would be the most substantial differences between the two countries. The concepts for accumulating wealth are the same, and if you are doing anything particularly lucrative with an above average amount of risk, the aforementioned differences are not very relevant, for a twenty something.",
"title": ""
}
] | fiqa |
9e6a3212c8eb117cbb33e404dc5046a1 | Protecting savings from exceptional taxes | [
{
"docid": "20e4a5eb388c4491e671bc71b905befc",
"text": "\"What EU wanted to force Cyprus to do is to break the insurance contract the government has with the bank depositors. The parliament rightfully refused, and it didn't pass. In the EU, and Cyprus as part of it, all bank deposits are insured up to 100,000EUR by the government. This is similar to the US FDIC insurance. Thus, requiring the \"\"small\"\" (up to 100K) depositors to participate in the bank reorganization means that the government breaks its word to people, and effectively defaults. That is exactly what the Cyprus government wanted to avoid, the default, so I can't understand why the idea even came up. Depositors of more than 100k are not guaranteed against bank failures, and indeed - in Cyprus these depositors will get \"\"haircuts\"\". But before them, first come shareholders and bondholders who would be completely wiped out. Thus, first and foremost, those who failed (the bank owners) will be the first to pay the price. However, governments can default. This happened in many places, for example in Russia in the 90's, in Argentina in 2000's (and in fact numerous times during the last century), the US in the 1930's, and many other examples - you can see a list in Wikipedia. When government defaults on its debts, it will not pay some or all of them, and its currency may also be devaluated. For example, in Russia in 1998 the currency lost 70% of its value against the USD within months, and much of the cash at hands of the public became worthless overnight. In the US in 1933 the President issued an executive order forbidding private citizens keeping gold and silver bullions and coins, which resulted in dollar devaluation by about 30% and investors in precious metals losing large amounts of money. The executive order requiring surrender of the Treasury gold certificates is in fact the government's failure to pay on these obligations. While the US or Russia control their own currency, European countries don't and cannot devaluate the currency as they wish in order to ease their debts. Thus in Euro-zone the devaluation solutions taken by Russia and the US are not possible. Cyprus cannot devaluate its currency, and even if it could - its external debt would not likely to be denominated in it (actually, Russian debt isn't denominated in Rubles, that's why they forced restructuring of their own debt, but devaluating the currency helped raising the money from the citizens similarly to the US seizing the gold in 1930's). Thus, in case of Cyprus or other Euro-zone countries, direct taxes is the only way to raise money from the citizens. So if you're in a country that controls its own currency (such as the US, Russia, Argentina, etc) and especially if the debt is denominated in that currency (mainly the US) - you should be worried more of inflation than taxes. But if you're in the Euro-zone and your country is in troubles (which is almost any country in the zone) - you can expect taxes. How to avoid that? Deal with your elected officials and have them fix your economy, but know that you can't just \"\"erase\"\" the debt through inflation as the Americans can (and will), someone will have to pay.\"",
"title": ""
},
{
"docid": "93bd1971ca0c84f2a6edc1cea926be7d",
"text": "Don't worry. The Cyprus situation could only occur because those banks were paying interest rates well above EU market rates, and the government did not tax them at all. Even the one-time 6.75% tax discussed is comparable to e.g. Germany and the Netherlands, if you average over the last 5 years. The simple solution is to just spread your money over multiple banks, with assets at each bank staying below EUR 100.000. There are more than 100 banks large enough that they'll come under ECB supervision this year; you'd be able to squirrel away over 10 million there. (Each branch of the Dutch Rabobank is insured individually, so you could even save 14 million there alone, and they're collectively AAA-rated.) Additionally, those savings will then be backed by more than 10 governments, many of which are still AAA-rated. Once you have to worry about those limits, you should really talk to an independent advisor. Investing in AAA government bonds is also pretty safe. The examples given by littleadv all involve known risky bonds. E.g. Argentina was on a credit watch, and paying 16% interest rates.",
"title": ""
},
{
"docid": "aface92198df28c3d0d1148bbc9a3571",
"text": "Over the last few years I've read quite a bit about monetary history. I've developed two very important rules from this study: If you follow these two rules you will be able to weather almost any governmental or banking crisis.",
"title": ""
}
] | [
{
"docid": "eb0aaf07385a614da2199677cdbf2c77",
"text": "Look into the Coverdell Education Savings Account (ESA). This is like a Roth IRA for higher education expenses. Withdrawals are tax free when used for qualified expenses. Contributions are capped at $2000/year per beneficiary (not per account) so it works well for young kids, and not so well for kids about to go to College. This program (like all tax law) are prone to changes due to action (or inaction) in the US Congress. Currently, some of the benefits are set to sunset in 2010 though they are expected to be renewed in some form by Congress this year.",
"title": ""
},
{
"docid": "29079941bcf673433726120d468485ea",
"text": "If you have multiple accounts, you have to empty them all before you can deduct any losses. Your loss is not a capital loss, its a deduction. It is calculated based on the total amount you have withdrawn from all your Roth IRA's, minus the total basis. It will be subject to the 2% AGI treshhold (i.e.: if your AGI is > 100K, none of it is deductible, and you have to itemize to get it). Bottom line - think twice. Summarizing the discussion in comments: If you have a very low AGI, I would guess that your tax liability is pretty low as well. Even if you deduct the whole $2K, and all of it is above the other deductions you have (which in turn is above the standard deduction of almost $6K), you save say $300 if you're in 15% tax bracket. That's the most savings you have. However I'm assuming something here: I'm assuming that you're itemizing your deductions already and they're above the standard deduction. This is very unlikely, with such a low income. You don't have state taxes to deduct, you probably don't spend a lot to deduct sales taxes, and I would argue that with the low AGI you probably don't own property, and if you do - you don't have a mortgage with a significant interest on it. You can be in 15% bracket with AGI between (roughly) $8K and $35K, i.e.: you cannot deduct between $160 and $750 of the $2K, so it's already less than the maximum $300. If your AGI is $8K, the deduction doesn't matter, EIC might cover all of your taxes anyway. If your AGI is $30K, you can deduct only $1400, so if you're in the 15% bracket - you saved $210. That, again, assuming it's above your other deductions, which in turn are already above the standard deduction. Highly unlikely. As I said in the comments - I do not think you can realistically save on taxes because of this loss in such a manner.",
"title": ""
},
{
"docid": "0a9e5e503ff2d51c31561721478e15c2",
"text": "You can't max out your retirement savings. There are vehicles that aren't tax-advantaged that you can fund after you've exhausted the tax-advantaged ones. Consider how much you want to put into these vehicles. There are disadvantages as well as advantages. The rules on these can change at any time and can make it harder for you to get your money out. How's your liquid (cash) emergency fund? It sounds like you're in a position to amass a good one. Don't miss this opportunity. Save like crazy while you can. Kids make this harder. Paying down your mortgage will save you interest, of course, but make sure you're not cash-poor as a result. If something happens to your income(s), the bank will still foreclose on you even if you only owe $15,000. A cash cushion buys you time.",
"title": ""
},
{
"docid": "132ecb257ac4664dc0b3037828419962",
"text": "You should definitely favor holding bonds in tax-advantaged accounts, because bonds are not tax-efficient. The reason is that more of their value comes in the form of regular, periodic distributions, rather than an increase in value as is the case with stocks or stock funds. With stocks, you can choose to realize all that appreciation when it is most advantageous for you from a tax perspective. Additionally, stock dividends often receive lower tax rates. For much more detail, see Tax-efficient fund placement.",
"title": ""
},
{
"docid": "1a827f57147977cbd2526a8de675299a",
"text": "If your regular withholding is not enough to cover your tax due, then you can withhold extra taxes to avoid owing anything the following April 15. Alternatively, you may make estimated tax payments to avoid owing anything the following year. Some taxpayers will be required to make estimated payments, typically when the tax due will be sufficiently larger than the amount of withholding. If your husband says that you owed $5,000 in April, then he wants you both to withhold $2,500 for the entire year. If all your income is shared, then that makes sense. But if your income is not entirely shared and your personal luxury expenses come from your income, then this sounds a little unfair (you are paying some of the tax on his income). If you don't share 100% of your income, then he should withhold more extra than you do (something more like $2,700 for him and $2,300 for you, depending on the details). If you share everything, then all the income and all the taxes are shared so the individual accounting matters little. Yes, if you overpay taxes, you may get a refund. Do not do this, that's just an interest-free loan to the government. Instead, put the extra money into a savings account of your choice and withdraw it whenever you want.",
"title": ""
},
{
"docid": "95e90433ef39fdd56ddc0a47483bb000",
"text": "Keep in mind that chasing after tax savings tends to not be a good way of saving money. What is a good strategy? Making sure that you take all the deductions you are entitled to. What is a bad strategy: You asked for a book recommendation. The problem is that I don't know of any books that cover all these topics. Also keep in mind that all books, blogs, articles, and yes answers to questions have a bias. Sometimes the bias can be ignored, other times it can't. Just keep looking for information on this site, and ask good specific questions about these topics.",
"title": ""
},
{
"docid": "c60dde0bae237546b457df7b10b7b21c",
"text": "Ditto @MichaelBorgwardt Just to get concrete: I just checked one bank in India and they say they are paying 4% on savings accounts. I don't know what you're getting or if 4% is typical in India, but it's at least an example. So if the bank pays interest based on average daily balance, and you left the money in the bank for a week, you'd get 4%/52 = .077%. So on Rs 95,000 that would be Rs 73. I live in the US where typical interest on a savings account today is about 1%. So an equivalent amount of money -- I think that would be about $1,500 -- would get 1/52 of 1%, or 29 cents. Don't leave the lights turned on while you do the calculations -- you'll spend more on the electricity than you make on the interest. :-) ** Addendum ** This suddenly reminds me ... I read a news story a few years ago about a man who was expecting a tax refund check from the IRS of a few hundred dollars, and when the check arrived it was for several million. Well obviously it was a mistake. But he came up with the clever idea: Deposit the check in an interest-bearing account. Promptly contact the IRS, inform them of the mistake, and ask how and where to go about returning the money. Hope that it takes at least a few days for them to figure everything out. Then keep the interest accumulated on the several-million dollars for the time that he had the money. And as he contacted them immediately about the error, they can't say he was trying to hide anything. It was a nice try, but it didn't work. They demanded he send them the interest as well as the principle.",
"title": ""
},
{
"docid": "068bed5880ce9e76d2f629508242671d",
"text": "You might want to bring this fancy new IRS rule to your employer's attention. If your employer sets it up, an After-Tax 401(k) Plan allows employees to contribute after-tax money above the $18k/year limit into a special 401(k) that allows deferral of tax on all earnings until withdrawal in retirement. Now, if you think about it, that's not all that special on its own. Since you've already paid tax on the contribution, you could imitate the above plan all by yourself by simply investing in things that generate no income until the day you sell them and then just waiting to sell them until retirement. So basically you're locking up money until retirement and getting zero benefit. But here's the cool part: the new IRS rule says you can roll over these contributions into a Roth 401(k) or Roth IRA with no extra taxes or penalties! And a Roth plan is much better, because you don't have to pay tax ever on the earnings. So you can contribute to this After-Tax plan and then immediately roll over into a Roth plan and start earning tax-free forever. Now, the article I linked above gets some important things slightly wrong. It seems to suggest that your company is not allowed to create a brand new 401(k) bucket for these special After-Tax contributions. And that means that you would have to mingle pre-tax and post-tax dollars in your existing Traditional 401(k), which would just completely destroy the usefulness of the rollover to Roth. That would make this whole thing worthless. However, I know from personal experience that this is not true. Your company can most definitely set up a separate After-Tax plan to receive all of these new contributions. Then there's no mingling of pre-tax and post-tax dollars, and you can do the rollover to Roth with the click of a button, no taxes or penalties owed. Now, this new plan still sits under the overall umbrella of your company's total retirement plan offerings. So the total amount of money that you can put into a Traditional 401(k), a Roth 401(k), and this new After-Tax 401(k) -- both your personal contributions and your company's match (if any) -- is still limited to $53k per year and still must satisfy all the non-discrimination rules for HCEs, etc. So it's not trivial to set up, and your company will almost certainly not be able to go all the way to $53k, but they could get a lot closer than they currently do.",
"title": ""
},
{
"docid": "3ed949c726920255e6c945d8db1f3e72",
"text": "\"Your #1 problem is the Government both in it's form as a taxation outfit and as a 'law and order' outfit. You'd be very surprised at how fast a bank seizes your bank account in response to a court order. Purchase 100 Mexican 50 Peso Gold (1.2 oz/ea). These coins are cheap (lowest cost to get into) and will not be reportable on sale to taxing authorities. That money is out of the banking system and legal system(s). Do not store them in a bank! You need to find a tax strategist, probably a former IRS agent / CPA type. With the rest remaining money... There's an old saying, Don't fight the Fed. As well as \"\"The trend is your friend\"\". So, the Fed wants all savers fully invested right now (near 0 interest rates). When investing, I find that if you do exactly opposite what you think is the smart thing, that's the best thing. Therefore, it follows: 1) Don't fight the Fed 2) Do opposite of smart 3) Do: Fight the Fed (and stay 100% out of the market and in cash) We're looking like Japan so could remain deflationary for decades to come. Cash is king...\"",
"title": ""
},
{
"docid": "085e2dffab276a036853dd071ebe34cc",
"text": "\"Offset against taxable gains means that the amount - $25 million in this case - can be used to reduce another sum that the company would otherwise have to pay tax on. Suppose the company had made a profit of $100 million on some other investments. At some point, they are likely to have to pay corporation tax on that amount before being able to distribute it as a cash dividend to shareholders. However if they can offset the $25 million, then they will only have to pay tax on $75 million. This is quite normal as you usually only pay tax on the aggregate of your gains and losses. If corporation tax is about 32% that would explain the claimed saving of approximately $8 million. It sounds like the Plaintiffs want the stock to be sold on the market to get that tax saving. Presumably they believe that distributing it directly would not have the same effect because of the way the tax rules work. I don't know if the Plaintiffs are right or not, but if they are the difference would probably come about due to the stock being treated as a \"\"realized loss\"\" in the case where they sell it but not in the case where they distribute it. It's also possible - though this is all very speculative - that if the loss isn't realised when they distribute it directly, then the \"\"cost basis\"\" of the shareholders would be the price the company originally paid for the stock, rather than the value at the time they receive it. That in turn could mean a tax advantage for the shareholders.\"",
"title": ""
},
{
"docid": "671a7c03188d20ca748faab01b5e0b28",
"text": "Asset protection is broad subject. In your examples it is certainly possible to have accounts that exist undisclosed from a spouse and legally inaccessible by said spouse. In the US, balances in 401k retirement accounts are exempt from forfeitures in bankruptcy. The only trick to secret stashes is that it involves you having any wealth in the first place, that you don't need to access. It is more worth it, for most people, to use all of their access to wealth to get out of debt, earn claims to property, and save for retirement. This takes up all of their earnings, making hidden wealth of any significant portion to be an impractical pipe dream. But with trust laws, corporate laws, and marriage property laws being different in practically every jurisdiction, there is plenty of flexibility to construct the form of your secret wealth. Cryptocurrency makes it much easier, at the expense of net asset value volatility.",
"title": ""
},
{
"docid": "9261b5cc8faec072e234aace913f48c3",
"text": "@BlackJack does a good answer of addressing the gains and when you are taxed on them and at what kind of rate. Money held in a brokerage account will usually be in a money-market fund, so you would own taxes on the interest it earned. There is one important consideration that must be understood for capitol Losses. This is called the Wash Sale Rule. This rule comes into affect if you sell a stock at a LOSS, and buy shares of the same stock within 30 days (before or after) the sale. A common tactic used to minimize taxes paid is to 'capture losses' when they occur, since these can be used to offset gains and lower your taxes. This is normally done by selling a stock in which you have a LOSS, and then either buying another similar stock, or waiting and buying back the stock you sold. However, if you are intending to buy back the same stock, you must not 'trigger' the Wash Sale Rule or you are forbidden to take the loss. Examples. Lets presume you own 1000 shares of a stock and it's trading 25% below where you bought it, and you want to capture the loss to use on your taxes. This can be a very important consideration if trading index ETF's if you have a loss in something like a S&P500 ETF, you would likely incur a wash sale if you sold it and bought a different S&P500 ETF from another company since they are effectively the same thing. OTOH, if you sold an S&P500 ETF and bought something like a 'viper''total stock market' ETF it should be different enough to not trigger the wash sale rule. If you are trying to minimize the taxes you pay on stocks, there are basically two rules to follow. 1) When a gain is involved, hold things at least a year before selling, if at all possible. 2) Capture losses when they occur and use to offset gains, but be sure not to trigger the wash sale rule when doing so.",
"title": ""
},
{
"docid": "17c82c8934c11cba29787c4df49b7d52",
"text": "In a comment on this answer you asked It's not clear to me why the ability to defer the gains would matter (since you never materially benefit until you actually sell) but the estate step up in basis is a great point! Could you describe a hypothetical exploitive scenario (utilizing a wash sale) in a little more detail? This sounds like you still have the same question as originally, so I'll take a stab at answering with an example. I sell some security for a $10,000 profit. I then sell another security at a $10,000 loss and immediately rebuy. So pay no taxes (without the rule). Assuming a 15% rate, that's $1500 in savings which I realize immediately. Next year, I sell that same security for a $20,000 profit over the $10,000 loss basis (so a $10,000 profit over my original purchase). I sell and buy another security to pay no taxes. In fact, I pay no taxes like this for fifty years as I live off my investments (and a pension or social security that uses up my tax deductions). Then I die. All my securities step up in basis to their current market value. So I completely evade taxes on $500,000 in profits. That's $75,000 in tax savings to make my heirs richer. And they're already getting at least $500,000 worth of securities. Especially consider the case where I sell a privately held security to a private buyer who then sells me back the same shares at the same price. Don't think that $10,000 is enough? Remember that you also get the original value. But this also scales. It could be $100,000 in gains as well, for $750,000 in tax savings over the fifty years. That's at least $5 million of securities. The effective result of this would be to make a 0% tax on capital gains for many rich people. Worse, a poorer person can't do the same thing. You need to have many investments to take advantage of this. If a relatively poor person with two $500 investments tried this, that person would lose all the benefit in trading fees. And of course such a person would run out of investments quickly. Really poor people have $0 in investments, so this is totally impractical.",
"title": ""
},
{
"docid": "bd6eecc9738b213f4a0e3ccc7411900f",
"text": "You have two different operations going on: They each have of a set of rules regarding amounts, timelines, taxes, and penalties. The excess money can't be recharacterized except during a specific window of time. I would see a tax professional to work through all the details.",
"title": ""
},
{
"docid": "a17f801749c61e70721be29bae27a51d",
"text": "There is the underpayment penalty, and of course the general risk of any balloon-style loan. While you think that you have enough self-discipline, you never know what may happen that may prevent you from having enough cash at hands to pay the accumulated tax at the end of the year. If you try to do more risky investments (trying to maximize the opportunity) you may lose some of the money, or have some other kind of emergency that may preempt the tax payment.",
"title": ""
}
] | fiqa |
44b6ea31f7ad2fac97b968561cf31b37 | How is yahoo finance P/E Ratio TTM calculated? | [
{
"docid": "829e686278a4a68bc87296349e46fb35",
"text": "The correct p/e for bp.l is 5.80. Bp.l is on the London stock exchange and prices are in local currency. The share price of 493 is reported in pence (not dollars). The EPS is reported in pounds. Using .85 pounds = 85 pence, you calculate the EPS as follows: 493.40/85 = 5.80 PE Yahoo totally screwed up. They converted the .85 pounds into US dollars ($1.34) but didn't convert the 493 pence. By using the 493 as dollars, they got 493.9/1.34 = 368 pe! Notice that Yahoo reports the American Depository Shares (symbol 'BP') with an EPS of $8.06. That correctly reflects that there are 6 shares of BP.l per ADS (1.34 * 6 = 8.04). But why is the share price listed at $46.69? Well... 493 GBp (pence) = 4.93 pounds 4.93 pounds = 7.73 USD 7.73 USD * 6 shares per ADS = 46.38 USD",
"title": ""
},
{
"docid": "202984fdfca72013590d80a373c28d40",
"text": "\"P/E is Price divided by Earnings Per Share (EPS). P/E TTM is Price divided by the actual EPS earned over the previous 12 months - hence \"\"Trailing Twelve Month\"\". In Forward P/E is the \"\"E\"\" is the average of analyst expectations for the next year in EPS. Now, as to what's being displayed. Yahoo shows EPS to be 1.34. 493.90/1.34 = P/E of 368.58 Google shows EPS to be 0.85. 493.40/0.85 = P/E of 580.47 (Prices as displayed, respectively) So, by the info that they are themselves displaying, it's Google, not Yahoo, that's displaying the wrong P/E. Note that the P/E it is showing is 5.80 -- a decimal misplacement from 580 Note that CNBC shows the Earnings as 0.85 as well, and correctly show the P/E as 580 http://data.cnbc.com/quotes/BP.L A quick use of a currency calculator reveals a possible reason why EPS is listed differently at yahoo. 0.85 pounds is 1.3318 dollars, currently. So, I think the Yahoo EPS listing is in dollars. A look at the last 4 quarters on CNBC makes that seem reasonable: http://data.cnbc.com/quotes/BP.L/tab/5 those add up to $1.40.\"",
"title": ""
}
] | [
{
"docid": "6bc624692d06ad64e7f32232c19638f6",
"text": "Your observation is mostly right, that 1 is a the number around which this varies. You are actually referencing PEG, P/E to Growth ratio, which is a common benchmark to use to evaluate a stock. The article I link to provides more discussion.",
"title": ""
},
{
"docid": "5e7a7044a927ec8ab40b5f4398ddd8cb",
"text": "Generally speaking. 1. Take the position size / average daily volume. 2. Multiply that number by 10 or whatever 1/whatever % of volume you think you can execute, ( you can at best acct for 10 percent of traded volume on a day). 3. You now have days until liquidation (x) 4. Take the days until liquidation sample the return over time x. I.e. if days until liquidation is 10, you would sample 10 day returns. 5. Calculate the distribution characteristics of this window (mean, var, skew, kurt) and calculate VaR based on some confidence. You can now have a liquidity risk expected loss and a VaR. If position is on margin don't forget to add the interest cost. Note: Instead of taking 10 day return, you can take the 10 day VWAP and calculate return between Open and 10 day vwap.",
"title": ""
},
{
"docid": "3befa06aff1f9bdd4c44321420a6f7d0",
"text": "Options - yes we can :) Options tickers on Yahoo! Finance will be displayed as per new options symbology announced by OCC. The basic parts of new option symbol are: Root symbol + Expiration Year(yy)+ Expiration Month(mm)+ Expiration Day(dd) + Call/Put Indicator (C or P) + Strike price Ex.: AAPL January 19 2013, Put 615 would be AAPL130119P00615000 http://finance.yahoo.com/q?s=AAPL130119P00615000&ql=1 Futures - yes as well (: Ex.: 6A.M12.E would be 6AM12.CME using Yahoo Finance symbology. (simple as that, try it out) Get your major futures symbols from here: http://quotes.ino.com/exchanges/exchange.html?e=CME",
"title": ""
},
{
"docid": "ee11814d8241b9c20bfa447f2388a983",
"text": "I have asked myself this exact same question many times. The analysis would be simple if you invested all your money in a single day, but I did not and therefore I would need to convert your cash transactions into Index fund buys/sells. I got tired of trying to do this using Yahoo's data and excel so I built a website in my spare time. I humbly suggest you try my website out in the hopes that it helps you perform this computation: http://www.amibeatingthemarket.com/",
"title": ""
},
{
"docid": "5c90ee4ba274fd55bd125b0bc0623285",
"text": "On closer look, it appears that Google Finance relies on the last released 10-k statement (filing date 10/30/2013), but outstanding shares as of last 10-Q statement. Using these forms, you get ($37,037M / 5.989B ) = $6.18 EPS. I think this is good to note, as you can manually calculate a more up to date EPS value than what the majority of investors out there are relying on.",
"title": ""
},
{
"docid": "0fabf85cd931ba89b9c27fcb7b04bb9b",
"text": "\"To my knowledge, there's no universal equation, so this could vary by individual/company. The equation I use (outside of sentiment measurement) is the below - which carries its own risks: This equations assumes two key points: Anything over 1.2 is considered oversold if those two conditions apply. The reason for the bear market is that that's the time stocks generally go on \"\"sale\"\" and if a company has a solid balance sheet, even in a downturn, while their profit may decrease some, a value over 1.2 could indicate the company is oversold. An example of this is Warren Buffett's investment in Wells Fargo in 2009 (around March) when WFC hit approximately 7-9 a share. Although the banking world was experiencing a crisis, Buffett saw that WFC still had a solid balance sheet, even with a decrease in profit. The missing logic with many investors was a decrease in profits - if you look at the per capita income figures, Americans lost some income, but not near enough to justify the stock falling 50%+ from its high when evaluating its business and balance sheet. The market quickly caught this too - within two months, WFC was almost at $30 a share. As an interesting side note on this, WFC now pays $1.20 dividend a year. A person who bought it at $7 a share is receiving a yield of 17%+ on their $7 a share investment. Still, this equation is not without its risks. A company may have a solid balance sheet, but end up borrowing more money while losing a ton of profit, which the investor finds out about ad-hoc (seen this happen several times). Suddenly, what \"\"appeared\"\" to be a good sale, turns into a person buying a penny with a dollar. This is why, to my knowledge, no universal equation applies, as if one did exist, every hedge fund, mutual fund, etc would be using it. One final note: with robotraders becoming more common, I'm not sure we'll see this type of opportunity again. 2009 offered some great deals, but a robotrader could easily be built with the above equation (or a similar one), meaning that as soon as we had that type of environment, all stocks fitting that scenario would be bought, pushing up their PEs. Some companies might be willing to take an \"\"all risk\"\" if they assess that this equation works for more than n% of companies (especially if that n% returns an m% that outweighs the loss). The only advantage that a small investor might have is that these large companies with robotraders are over-leveraged in bad investments and with a decline, they can't make the good investments until its too late. Remember, the equation ultimately assumes a person/company has free cash to use it (this was also a problem for many large investment firms in 2009 - they were over-leveraged in bad debt).\"",
"title": ""
},
{
"docid": "a0d96161e8f3b899c36c596612638ed2",
"text": "The dividend is for a quarter of the year, three months. 80 cents is 3.9% of $20.51. Presumably the Div/yield changes as the stock price changes. On Yahoo, they specify that the yield is based on a particular stated date. So it's only the exact number if the stock trades at the price on that date.",
"title": ""
},
{
"docid": "43b5e2eff2438cb0614ae2ecf7afe2da",
"text": "Yes, Alpha Vantage. As MasticatedTesticle points out, it is worth asking where it originally comes from, but it looked to me like a solid source for, in particular, intraday trading data. Additionally, Yahoo finance is done on R (zoo, PerformanceAnalytics libraries don't work anymore as far as I can tell). The numbers look right to me tho, let me know if things are off.",
"title": ""
},
{
"docid": "3451c2779bca4a3422a1edf0de832b52",
"text": "At this time, Google Finance doesn't support historical return or dividend data, only share prices. The attributes for mutual funds such as return52 are only available as real-time data, not historical. Yahoo also does not appear to offer market return data including dividends. For example, the S&P 500 index does not account for dividends--the S&P ^SPXTR index does, but is unavailable through Yahoo Finance.",
"title": ""
},
{
"docid": "306e4dbc38dd9989c1d6bd8e12f8a6bc",
"text": "\"What you need to do is go to yahoo finance and look at different stock's P/E ratios. You'll quickly see that the stocks can be sorted by this number. It would be an interesting exercise to get an idea of why P/E isn't a fixed number, how certain industries cluster around a certain number, but even this isn't precise. But, it will give you an idea as to why your question has no answer. \"\"Annual earnings are $1. What is the share price?\"\" \"\"Question has no answer\"\"\"",
"title": ""
},
{
"docid": "d298f15e936007876cd081e40c7107c7",
"text": "I think what's screwing up my calculation is the (reL), return on equity levereged figure. The beta for KORS apparently is -0.58, so when I use the formula reL = rf + (ßL)(rm - rf), I get -0.0048 as my reL. Am I doing my beta wrong? Am I supposed to use a different figure for my beta? ALSO, further in the process, when using the formula for WACC, my E/(D+E) is essentially 1.0 because market value of equity for KORS is 7bill and its market value of debt is only like 147 million. edit: I'm beginning to believe that my beta of -0.58 is not rightly used. It's what yahoo told me, but other sources are saying that the beta of KORS is more like -0.01 or close to 0. Yes? edit 2: Using -0.01 beta, I get a rdWACC of 2.2%. Now this seems more plausible. I did some research on negative betas and found out that they basically don't really exist aside from gold. So Yahoo must be giving me a weird beta figure. Other websites are all giving me -0.01, so I believe that is correct.",
"title": ""
},
{
"docid": "f93ae4aa6cff425d08d6816d9cb7ee3f",
"text": "I understand that ITM have little time value, so they will have small time decay(theta), but why OTM has a lesser theta than ATM? The Time value represents uncertainty. That uncertainty decreases the farther away from ATM you get (in either direction). At-the-money, there is roughly a 50% chance that the option expires worthless. As you get deeper in-the-money, the change that is expires worthless decreases, so there is less uncertainty (there is more certainty that the option will pay off). As you go deeper OTM, the probability that the option expires worthless increases, so there is also less uncertainty. At the TTM decreases, the uncertainty (theta) decreases as well, since there is less time for the option to cross the strike from either direction. Similarly, as volatility decreases, theta decreases, since low-volatility stocks have a less change of crossing the strike.",
"title": ""
},
{
"docid": "8b16542ff6aa0d91ed303490a3691bc1",
"text": "You could use the Gordon growth model implied expected return: P = D/(r-g) --> r = D/P (forward dividend yield) + g (expected dividend growth). But obviously there is no such thing as a good market return proxy.",
"title": ""
},
{
"docid": "2737555cec11157babb0aff5bd578d75",
"text": "\"the \"\"how\"\" all depends on your level of computer savvy. Are you an Excel spreadsheet user or can you write in programming languages such as python? Either approach have math functions that make the calculation of ROI and Volatility trivial. If you're a python coder, then look up \"\"pandas\"\" (http://pandas.pydata.org/) - it handles a lot of the book-keeping and downloading of end of day equities data. With a dozen lines of code, you can compute ROI and volatility.\"",
"title": ""
},
{
"docid": "f0af13625a8bea1d18a009d4c8ad44a5",
"text": "There are many ways to calculate the return, and every way will give you a different results in terms of a percentage-value. One way to always get something meaningful - count the cash. You had 977 (+ 31) and in the end you have 1.370, which means you have earned 363 dollars. But what is your return in terms of percentage? One way to look at it, is by pretending that it is a fund in which you invest 1 dollar. What is the fund worth in the beginning and in the end? The tricky part in your example is, you injected new capital into the equation. Initially you invested 977 dollars which later, in the second period became worth 1.473. You then sold off 200 shares for 950 dollars. Remember your portfolio is still worth 1.473, split between 950 in cash and 523 in Shares. So far so good - still easy to calculate return (1.473 / 977 -1 = 50.8% return). Now you buy share for 981 dollars, but you only had 950 in cash? We now need to consider 2 scenarios. Either you (or someone else) injected 31 dollars into the fund - or you actually had the 31 dollars in the fund to begin with. If you already had the cash in the fund to begin with, your initial investment is 1.008 and not 977 (977 in shares and 31 in cash). In the end the value of the fund is 1.370, which means your return is 1.370 / 1.007 = 36%. Consider if the 31 dollars was paid in to the fund by someone other than you. You will then need to recalculate how much you each own of the fund. Just before the injection, the fund was worth 950 in cash and 387 in stock (310 - 200 = 110 x 3.54) = 1.339 dollars - then 31 dollars are injected, bringing the value of the fund up to 1.370. The ownership of the fund is split with 1.339 / 1.370 = 97.8% of the value for the old capital and 2.2% for the new capital. If the value of the fund was to change from here, you could calculate the return for each investor individually by applying their share of the funds value respective to their investment. Because the value of the fund has not changed since the last period (bullet 3), the return on the original investment is (977 / 1.339 - 1 = 37.2%) and the return on the new capital is (31 / 31 = 0%). If you (and not someone else) injected the 31 dollar into the fund, you will need to calculate the weight of each share of capital in each period and get the average return for each period to get to a total return. In this specific case you will still get 37.2% return - but it gets even more comlex for each time you inject new capital.",
"title": ""
}
] | fiqa |
9e544280d1709d37b778655023e585b2 | Relative Strength Index: Yahoo vs Google Finance | [
{
"docid": "0abcd449cae2ed7664022837ddd01ced",
"text": "\"Google's RSI is using a 10 period on 2 minute bars - i.e. it is based upon the last 20 minutes of data. Yahoo's RSI is using a 14 period lookback on an undetermined timeframe (you could maybe mouse-over and see what incremental part of the chart is giving) and given the \"\"choppier\"\" price chart, probably 30 second or 1 minute bars. Given the difference in both the period specified and the periodicity of the charts - you should expect different results.\"",
"title": ""
},
{
"docid": "51b119949722b2a428b636acee721e2d",
"text": "Look at the 'as of'. Google's as of is 11:27 whil Yahoo's is 11:19. Given the shape of the Google curve, it looks to me that Yahoo's may well drop that much in the next 8 minutes. In fact, looking at it now, Yahoo's algorithm showed it as about 30 at 11:24, before going back up again some. It may not have been identical to Google's, but it was certainly close.",
"title": ""
}
] | [
{
"docid": "745af972c291ab920e3b2690a6d0ef9d",
"text": "Yes, it depends on the fund it's trying to mirror. The ETF for the S&P that's best known (in my opinion) is SPY and you see the breakdown of its holdings. Clearly, it's not an equal weighted index.",
"title": ""
},
{
"docid": "77709d67eb01b6301a7a4f77c3b801a8",
"text": "\"I went to Morningstar's \"\"Performance\"\" page for FUSEX (Fideltiy's S&P 500 index fund) and used the \"\"compare\"\" tool to compare it with FOSFX and FWWFX, as well as FEMKX (Fidelity Emerging Markets fund). According to the data there, FOSFX outperformed FUSEX in 2012, FEMKX outperformed FUSED in 2010, and FWWFX outperformed FUSEX in both 2010 and 2012. When looking at 10- and 15-year trailing returns, both FEMKX and FWWFX outperformed FUSEX. What does this mean? It means it matters what time period you're looking at. US stocks have been on an almost unbroken increase since early 2009. It's not surprising that if you look at recent returns, international markets will not stack up well. If you go back further, though, you can find periods where international funds outperformed the US; and even within recent years, there have been individual years where international funds won. As for correlation, I guess it depends what you mean by \"\"low\"\". According to this calculator, for instance, FOSFX and FUSEX had a correlation of about 0.84 over the last 15 years. That may seem high, but it's still lower than, say, the 0.91 correlation between FUSEX and FSLCX (Fideltiy Small Cap). It's difficult to find truly low correlations among equity funds, since the interconnectedness of the global economy means that bull and bear markets tend to spread from one country to another. To get lower correlations you need to look at different asset classes (e.g., bonds). So the answer is basically that some of the funds you were already looking at may be the ones you were looking for. The trick is that no category will outperform any other over all periods. That's exactly what volatility means --- it means the same category that overperforms in some periods will underperform in others. If international funds always outperformed, no one would ever buy US funds. Ultimately, if you're trying to decide on investments for yourself, you need to take all this information into account and combine it with your own personal preferences, risk tolerance, etc. Anecdotally, I recently did some simulation-based analyses of Vanguard funds using data from the past 15 years. Over this period, Vanguard's emerging markets fund (VEIEX) comes out far ahead of US funds, and is also the least-correlated with the S&P 500. But, again, this analysis is based only on a particular slice of time.\"",
"title": ""
},
{
"docid": "366110afc6c37433dbbd7d11fa1dd8a6",
"text": "If you use Google Finance, you will get incorrect results because Google Finance does not show the dividend history. Since your requirement is that dividends are re-invested, you should use Yahoo Finance instead, downloading the historical 'adjusted' price.",
"title": ""
},
{
"docid": "ea277e4ed379486c09e3bbc1d31fd249",
"text": "Your analysis is correct. The income statement from Google states that LinkedIn made $3.4 million in 2010 - the same number you backed into by using the P/E ratio. As you point out, the company seems overvalued compared to other mature companies. There are companies, however, that posts losses and still trade on exchanges for years. How should these companies be valued? As other posters have pointed out there are many different ways to value a company. Some investors may be speculating on substantial growth. Others may be speculating on IPO hype. Amazon did not make a profit until 2003. Its stock had been around for years before that and even split many times. If you bought the stock in 1998 and still have it you would be doing quite well.",
"title": ""
},
{
"docid": "5c815a65729347e19e3babaa7c24b264",
"text": "What a pointless list! It's ranked by total short interest outstanding. That's completely meaningless. For instance, a $1 billion company with $1 billion in shorts (meaning the market thinks it's bankrupt) would be ranked much better than a $100 billion company with $1.1 billion in short interest. tl;dr: pure and utter bullshit",
"title": ""
},
{
"docid": "9764ba3afd9210806de741e49eaf845a",
"text": "\"Google Docs spreadsheets have a function for filling in stock and fund prices. You can use that data to graph (fund1 / fund2) over some time period. Syntax: =GoogleFinance(\"\"symbol\"\", \"\"attribute\"\", \"\"start_date\"\", \"\"num_days|end_date\"\", \"\"interval\"\") where: This analysis won’t include dividends or distributions. Yahoo provides adjusted data, if you want to include that.\"",
"title": ""
},
{
"docid": "f2b2cd5d67aa4c7040942dcefbcbc302",
"text": "The biggest issue with Yahoo Finance is the recent change to the API in May. The data is good quality, includes both dividend/split adjusted and raw prices, but it's much more difficult to pull the data with packages like R quantmod than before. Google is fine as well, but there are some missing data points and you can't unadjust the prices (or is it that they're all unadjusted and you can't get adjusted? I can't recall). I use Google at home, when I can't pull from Bloomberg directly and when I'm not too concerned with accuracy. Quandl seems quite good but I haven't tried them. There's also a newer website called www.alphavantage.co, I haven't tried them yet either but their data seems to be pretty good quality from what I've heard.",
"title": ""
},
{
"docid": "5b00300f2a333c26c62eefd7a6367917",
"text": "When you look at the charts in Google Finance, they put the news on the right hand side. The time stamp for each news item is indicated with a letter in the chart. This often shows what news the market is reacting to. In your example: Clicking on the letter F leads to this Reuters story: http://www.reuters.com/article/2011/02/04/usa-housing-s-idUSWAT01486120110204",
"title": ""
},
{
"docid": "d94213b22892d8c0384ec8dfa260408f",
"text": "On Monday, the 27th of June 2011, the XIV ETF underwent a 10:1 share split. The Yahoo Finance data correctly shows the historic price data adjusted for this split. The Google Finance data does not make the adjustment to the historical data, so it looks like the prices on Google Finance prior to 27 June 2011 are being quoted at 10 times what they should be. Coincidentally, the underlying VIX index saw a sudden surge on the Friday (24 June) and continued on the Monday (27 June), the date that the split took effect. This would have magnified the bearish moves seen in the historic price data on the XIV ETF. Here is a link to an article detailing the confusion this particular share split caused amongst investors. It appears that Google Finance was not the only one to bugger it up. Some brokers failed to adjust their data causing a lots of confusion amongst clients with XIV holdings at the time. This is a recurring problem on Google Finance, where the historic price data often (though not always) fails to account for share splits.",
"title": ""
},
{
"docid": "a5c828411013510f191bb0f58be880db",
"text": "I'm not 100% familiar with the index they're using to measure hedge fund performance, but based on the name alone, comparing market returns to *market neutral* hedge fund returns seems a bit disingenuous. That doesn't mean the article is wrong, and they have a point about the democratization of data, but still.",
"title": ""
},
{
"docid": "fbcdc4709a26a75edae1f33af053105b",
"text": "This didn't answer his question. Also, while I agree with you that the Dow is meaningless (and your explanation why). In the investment industry, we don't only focus on the S&P Index.. Many have a specific benchmark they aim to outperform that matches their investment strategy (i.e. Russell Mid Cap Value, Russell 3000, etc.).",
"title": ""
},
{
"docid": "4e7195e30b812e86bb2533302a952026",
"text": "I agree with @Turukawa that the x-axes need to be the same to make a direct comparison. However, the graphs you linked make me think of introductory calculus: If you time averaged plots, speculative investments (gold, housing) seem to have many large concave up time periods and the dow jones has many concave down sections. Using the concavity test: If the first derivative tells you about the rate of change, the second derivative tells you about the rate of change of rate of change. Remember back to Physics 101: 1st derivative is velocity & second derivative is acceleration. It would be interesting to have the same time scales for your plots & compare these accelerations between the two. I suspect the more volatile investments would have larger (in magnitude) accelerations during boom/bust cycles than less speculative investments.",
"title": ""
},
{
"docid": "5c90ee4ba274fd55bd125b0bc0623285",
"text": "On closer look, it appears that Google Finance relies on the last released 10-k statement (filing date 10/30/2013), but outstanding shares as of last 10-Q statement. Using these forms, you get ($37,037M / 5.989B ) = $6.18 EPS. I think this is good to note, as you can manually calculate a more up to date EPS value than what the majority of investors out there are relying on.",
"title": ""
},
{
"docid": "c83ab56176a53cc349d933f86728f74c",
"text": "\"I use Google Finance too. The only thing I have problem with is dividend info which it wouldn't automatically add to my portfolio. At the same time, I think that's a lot to ask for a free web site tool. So when dividend comes, I manually \"\"deposit\"\" the dividend payment by updating the cash amount. If the dividend comes in share form, I do a BUY at price 0 for that particular stock. If you only have 5 stocks, this additional effort is not bad at all. I also use the Hong Kong version of it so perhaps there maybe an implementation difference across country versions. Hope this helps. CF\"",
"title": ""
},
{
"docid": "d3b2860b2a0cb99380d086fe2d4ba081",
"text": "Still working on exact answer to question....for now: (BONUS) Here is how to pull a graphical chart with the required data: Therefore: As r14 = the indicator for RSI. The above pull would pull Google, 6months, line chart, linear, large, with a 50 day moving average, a 200 day exponential moving average, volume, and followed up with RSI. Reference Link: Finance Yahoo! API's",
"title": ""
}
] | fiqa |
f5fbc1ac87688c730ab07d8ee5d37500 | Why does Yahoo Finance and Google Finance not match historical prices? | [
{
"docid": "de242c20e4e0b92003730a296c3ef71c",
"text": "The difference is that Yahoo is showing the unadjusted price that the security traded for on that date, while google is adjusting for price splits. This means that Google is showing how much you would have had to pay to get what is now one share. Since 1979, JNJ has split 3-for-1 once, and 2-for-1 four times. 3x2x2x2x2 = 48. If you bought 1 share at that time, you would now have 48 shares today. Yahoo is showing a price of $66 for what was then 1 share. $66/48 = 1.375, which Google rounds to 1.38. You can see this if you get the prices from May 14-21, 1981. The stock split 3-for-1, and the price dropped from 108 to 36.38. Yahoo's adjusted close column has not been accurate since they re-wrote the Finance website. It now just represents the closing price. The other relevant field on Yahoo is the Adj. Close. This adjusts for splits, but also adjusts for dividends. Hence why this doesn't match either the Google or Yahoo numbers.",
"title": ""
},
{
"docid": "79d5438b0c557a93e7157a96506906bf",
"text": "I work on a buy-side firm, so I know how these small data issues can drive us crazy. Hope my answer below can help you: Reason for price difference: 1. Vendor and data source Basically, data providers such as Google and Yahoo redistribute EOD data by aggregating data from their vendors. Although the raw data is taken from the same exchanges, different vendors tend to collect them through different trading platforms. For example, Yahoo, is getting stock data from Hemscott (which was acquired by Morningstar), which is not the most accurate source of EOD stocks. Google gets data from Deutsche Börse. To make the process more complicated, each vendor can choose to get EOD data from another EOD data provider or the exchange itself, or they can produce their own open, high, low, close and volume from the actual trade tick-data, and these data may come from any exchanges. 2. Price Adjustment For equities data, the re-distributor usually adjusts the raw data by applying certain customized procedures. This includes adjustment for corporate actions, such as dividends and splits. For futures data, rolling is required, and back-ward and for-warding rolling can be chosen. Different adjustment methods can lead to different price display. 3. Extended trading hours Along with the growth of electronic trading, many market tends to trade during extended hours, such as pre-open and post-close trading periods. Futures and FX markets even trade around the clock. This leads to another freedom in price reporting: whether to include the price movement during the extended trading hours. Conclusion To cross-verify the true price, we should always check the price from the Exchange where the asset is actually traded. Given the convenience of getting EOD data nowadays, this task should be easy to achieve. In fact, for professional traders and investors alike, they will never reply price on free providers such as Yahoo and Google, they will most likely choose Bloomberg, Reuters, etc. However, for personal use, Yahoo and Google should both be good choices, and the difference is small enough to ignore.",
"title": ""
}
] | [
{
"docid": "39e680ba097f0ffc975fb39a29e5dcd0",
"text": "Check the answers to this Stackoverflow question https://stackoverflow.com/questions/754593/source-of-historical-stock-data a number of potential sources are listed",
"title": ""
},
{
"docid": "c043eae8ce68058c54aca7a490fff9c7",
"text": "I assume you're after a price time series and not a list of S&P 500 constituents? Yahoo Finance is always a reasonable starting point. Code you're after is ^GSPC: https://finance.yahoo.com/quote/%5EGSPC/history?p=^GSPC There's a download data button on the right side.",
"title": ""
},
{
"docid": "dc791ff7f4a2e648915913f2f2bc62ae",
"text": "Yup. What I wanted to know was where they are pulling it up from. Have casually used Google finance for personal investments, but they suck at corp actions. Not sure if they provide free APIs, but that would probably suck too! :D",
"title": ""
},
{
"docid": "8f399907f2221e4bdc9aefb8c11cf52c",
"text": "This is from Google Finance right now.",
"title": ""
},
{
"docid": "3b97c12e43ff897b685f9465d1f85e67",
"text": "I had the same problem and was looking for a software that would give me easy access to historical financial statements of a company, preferably in a chart. So that I could easily compare earnings per share or other data between competitors. Have a look at Stockdance this might be what you are looking for. Reuters Terminal is way out of my league (price and complexity) and Yahoo and Google Finance just don't offer the features I want, especially on financials. Stockdance offers a sort of stock selection check list on which you can define your own criterion’s. Hence it makes no investment suggestions but let's you implement your own investing strategy.",
"title": ""
},
{
"docid": "6f8f4f0e86dfd43dd70b7d48f6ee9d1f",
"text": "A number of places. First, fast and cheap, you can probably get this from EODData.com, as part of a historical index price download -- they have good customer service in my experience and will likely confirm it for you before you buy. Any number of other providers can get it for you too. Likely Capital IQ, Bloomberg, and other professional solutions. I checked a number of free sites, and Market Watch was the only that had a longer history than a few months.",
"title": ""
},
{
"docid": "2e985fd0802a5664343a1f2e720c11ad",
"text": "\"Sure, Yahoo Finance makes mistakes from time to time. That's the nature of free data. However, I think the issue here is that yahoo is aggregating several line items into one. Like maybe reporting cash equivalents plus total investment securities minus loans as \"\"cash equivalents.\"\" This aggregation is done by a computer program somewhere and may or may not be appropriate for a particular purpose and firm. For this reason, if you are trying to do top quality research, it's always better to go to the original SEC filings, if you can. Then you will know for sure which items you are looking at. The only mistakes will be the ones made by the accountants at the firm in question. If there's a reason you prefer to use yahoo, like if it's easier for your code to scrape, then spend a little time comparing to the SEC filing to ensure you know where the numbers really come from before using it.\"",
"title": ""
},
{
"docid": "0abcd449cae2ed7664022837ddd01ced",
"text": "\"Google's RSI is using a 10 period on 2 minute bars - i.e. it is based upon the last 20 minutes of data. Yahoo's RSI is using a 14 period lookback on an undetermined timeframe (you could maybe mouse-over and see what incremental part of the chart is giving) and given the \"\"choppier\"\" price chart, probably 30 second or 1 minute bars. Given the difference in both the period specified and the periodicity of the charts - you should expect different results.\"",
"title": ""
},
{
"docid": "f2b2cd5d67aa4c7040942dcefbcbc302",
"text": "The biggest issue with Yahoo Finance is the recent change to the API in May. The data is good quality, includes both dividend/split adjusted and raw prices, but it's much more difficult to pull the data with packages like R quantmod than before. Google is fine as well, but there are some missing data points and you can't unadjust the prices (or is it that they're all unadjusted and you can't get adjusted? I can't recall). I use Google at home, when I can't pull from Bloomberg directly and when I'm not too concerned with accuracy. Quandl seems quite good but I haven't tried them. There's also a newer website called www.alphavantage.co, I haven't tried them yet either but their data seems to be pretty good quality from what I've heard.",
"title": ""
},
{
"docid": "42ae41bba0cb5ada50da52201b1b7d59",
"text": "Previously, Google had a delayed update for their stock prices (15 minutes I believe). That change enabled users of Google Finance to see updates to stock prices in real-time.",
"title": ""
},
{
"docid": "ac305c586c01762a2f7fedcdf4e4420e",
"text": "You can use Google Finance Stock Screener for screening US stocks. Apparently it doesn't have the specific criterion (Last Price % diff from 52 week low) you are (were!) looking for. I believe using its api you can get it, although it won't exactly be a very direct solution.",
"title": ""
},
{
"docid": "5b30e2b65f080a8773403290f397874f",
"text": "The yahoo finance API is no longer which broke the Finance:Quote perl module. The Finance:Quote developers have been quick to fix things and have produced several new versions in the last week or two. The short of it is that you need to update Finance:Quote, then obtain an AlphaVantage free key and tell Gnucash to use AlphaVantage as it's source for online quotes by editing your securities in the Price Editor.",
"title": ""
},
{
"docid": "5f5fa3de79b9b0d7b8c2a415881e1f42",
"text": "I found additional evidence on TDAmeritrade's website that helps confirm that the 3/17/11 prices Jason found are the ones to use since all three were traded on that day. Although GM+A had prices and trading as early as 2/28/11, GM+B's price and trading shows up no earlier than 3/14/11, but there was no trading indicated for GM+A on 3/14 so 3/14 can't be used. The two warrants were not traded every day after they came out. The next date that I found when all three, GM, GM+A and GM+B had trades was 4/11/11. I found Google and Yahoo Finance unable to produce the historical prices for the warrants that far back. Unfortunately, you need to be a TDA accountholder in order to access TDA's historical price information for stocks.",
"title": ""
},
{
"docid": "202984fdfca72013590d80a373c28d40",
"text": "\"P/E is Price divided by Earnings Per Share (EPS). P/E TTM is Price divided by the actual EPS earned over the previous 12 months - hence \"\"Trailing Twelve Month\"\". In Forward P/E is the \"\"E\"\" is the average of analyst expectations for the next year in EPS. Now, as to what's being displayed. Yahoo shows EPS to be 1.34. 493.90/1.34 = P/E of 368.58 Google shows EPS to be 0.85. 493.40/0.85 = P/E of 580.47 (Prices as displayed, respectively) So, by the info that they are themselves displaying, it's Google, not Yahoo, that's displaying the wrong P/E. Note that the P/E it is showing is 5.80 -- a decimal misplacement from 580 Note that CNBC shows the Earnings as 0.85 as well, and correctly show the P/E as 580 http://data.cnbc.com/quotes/BP.L A quick use of a currency calculator reveals a possible reason why EPS is listed differently at yahoo. 0.85 pounds is 1.3318 dollars, currently. So, I think the Yahoo EPS listing is in dollars. A look at the last 4 quarters on CNBC makes that seem reasonable: http://data.cnbc.com/quotes/BP.L/tab/5 those add up to $1.40.\"",
"title": ""
},
{
"docid": "2649f29b989d8e7f895fca5b3d7d7194",
"text": "\"At the bottom of Yahoo! Finance's S & P 500 quote Quotes are real-time for NASDAQ, NYSE, and NYSE MKT. See also delay times for other exchanges. All information provided \"\"as is\"\" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein. Fundamental company data provided by Capital IQ. Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). International historical chart data, daily updates, fund summary, fund performance, dividend data and Morningstar Index data provided by Morningstar, Inc. Orderbook quotes are provided by BATS Exchange. US Financials data provided by Edgar Online and all other Financials provided by Capital IQ. International historical chart data, daily updates, fundAnalyst estimates data provided by Thomson Financial Network. All data povided by Thomson Financial Network is based solely upon research information provided by third party analysts. Yahoo! has not reviewed, and in no way endorses the validity of such data. Yahoo! and ThomsonFN shall not be liable for any actions taken in reliance thereon. Thus, yes there is a DB being accessed that there is likely an agreement between Yahoo! and the providers.\"",
"title": ""
}
] | fiqa |
a8cf85ed472698b6d9ce47d515c6f949 | Multi-user, non-US personal finance and budget software | [
{
"docid": "2b21b7787891776d81772e462a27e786",
"text": "\"My wife and I have been ridiculously happy with YNAB. It's not \"\"online,\"\" but syncs across our phones & computers using Dropbox. It supposedly supports different locales and currencies, but I have never needed to try that out.\"",
"title": ""
},
{
"docid": "cdc922e69b22a5f186fda3856065d017",
"text": "I know exactly what you are talking about. You may like",
"title": ""
}
] | [
{
"docid": "18a46954b6c722f81097bece479933c9",
"text": "I've been using Tick at work now for several months and have really enjoyed it. It's got a nice, simple interface with good time-budgeting and multi-user/project features. It can be used on several platforms, too (website, desktop widgets, and phone apps).",
"title": ""
},
{
"docid": "f6e28aca217b83085a5143051ab9e18f",
"text": "The best solution I've been able to find for this is MoneyWiz, where both are logged into the same sync account.",
"title": ""
},
{
"docid": "0f1bca174e10f914463e5c7ddcf1433e",
"text": "\"Yes. The simplest option to track your spending over time is to familiarize yourself with the \"\"Reports\"\" menu on the toolbar. Take a look specifically at the \"\"Reports > Income/Expense > Income Statement\"\" report, which will sum up your income and spending over a time frame (defaults to the current year). In each report that you run, there is an \"\"Options\"\" button at the top of the screen. Open that and look on the \"\"General\"\" tab, you'll be able to set the time frame that the report displays (if you wanted to set it for the 2 week block since your last paycheck, for example). Other features you're going to want to familiarize yourself with are the Expense charts & statements, the \"\"Cash Flow\"\" report, and the \"\"Budgeting\"\" interface (which is relatively new), although there is a bit of a learning curve to using this last feature. Most of the good ideas when it comes to tracking your spending are independent of the software you're using, but can be augmented with a good financial tracking program. For example, in our household we have multiple credit cards which we pay in full every month. We selected our cards on specific benefits that they provide, such as one card which has a rotating category for cash back at certain business types. We keep that card set on restaurants and put all of our \"\"eating out\"\" expenses on that card. We have other cards for groceries, gas, etc. This makes it easy to see how much we've spent in a given category, and correlates well with the account structure in gnucash.\"",
"title": ""
},
{
"docid": "c86cf4c13b5cedf554d0964b7b378467",
"text": "\"I use \"\"Money Manager Ex\"\" which is a Windows application I use on PC to log my transactions and for simple statistic. They have two versions, simple standlone application and self-hosted web app.\"",
"title": ""
},
{
"docid": "810435c5809639511389c5fc99eb133e",
"text": "\"While Googling answers for a similar personal dilemma I found Mvelopes. I already have a budget but was looking for a digital way for my husband and I to track our purchases so we know when we've \"\"used the envelope\"\". It's a free app.\"",
"title": ""
},
{
"docid": "b1030124273a3360c65ff22e029e7470",
"text": "I've been budgeting with MS Money since 2004 and was pretty disappointed to hear it's being discontinued. Budgeting is actually a stress-relieving hobby for me, and I can be a bit of a control-freak when it comes to finances, so I decided to start early looking for a replacement rather than waiting until MS Money can no longer download transactions. Here are the pros and cons of the ones I've tried (updated 10/2010): You Need A Budget Pro (YNAB) - Based on the old envelopes system, YNAB has you allot money from each paycheck to a specific budget category (envelope). It encourages you to live on last money's income, and if you have trouble with overspending, that can be a great plan. Personally, I'm a big believer in the envelope concept, so that's the biggest pro I found. Also, it's a downloaded software, so once I've bought it (for about $50) it's mine, without forced upgrades as far as I've seen. The big con for me was that it does not automatically download transactions. I would have to sign on to each institution's website and manually download to the program. Also, coming from Money, I'm used to having features that YNAB doesn't offer, like the ability to store information about my accounts. Overall, it's forward-thinking and a good budgeting system, but will take some extra time to download transactions and isn't really a comprehensive management tool for all my financial needs. You can try it out with their free trial. Mint - This is a free online program. The free part was a major pro. It also looks pretty, if that's important to you. Updating is automatic, once you've got it all set up, so that's a pro. Mint's budgeting tools are so-so. Basically, you choose a category and tell it your limit. It yells at you (by text or email) when you cross the line, but doesn't seem to offer any other incentive to stay on budget. When I first looked at Mint, it did not connect with my credit union, but it currently connects to all my banks and all but one of my student loan institutions. Another recent improvement is that Mint now allows you to manually add transactions, including pending checks and cash transactions. The cons for me are that it does not give me a good end-of-the-month report, doesn't allow me to enter details of my paychecks, and doesn't give me any cash-flow forecasting. Overall, Mint is a good casual, retrospective, free online tool, but doesn't allow for much planning ahead. Mvelopes - Here's another online option, but this one is subscription-based. Again, we find the old envelopes system, which I think is smart, so that's a pro for me. It's online, so it downloads transactions automatically, but also allows you to manually add transactions, so another pro. The big con on this one is the cost. Depending on how you far ahead you choose to pay (quarterly, yearly or biannually), you're paying $7.60 to $12 per month. They do offer a free trial for 14 days (plus another 14 days offered when you try to cancel). Another con is that they don't provide meaningful reports. Overall, a good concept, but not worth the cost for me. Quicken - I hadn't tried Quicken earlier because they don't offer a free trial, but after the last few fell short, I landed with Quicken 2009. Pro for Quicken, as an MS Money user is that it is remarkably similar in format and options. The registers and reports are nearly identical. One frustration I'd had with Money was that it was ridiculously slow at start-up, and after a year or so of entering data, Quicken is dragging. Con for Quicken, again as an MS Money user, is that it's budgeting is not as detailed as I would like. Also, it does not download transactions smoothly now that my banks all ask security questions as part of sign-in. I have to sign in to my bank's website and manually download. Quicken 2011 is out now, but I haven't tried it yet. Hopefully they've solved the problem of security questions. Quicken 2011 promises an improved cash-flow forecast, which sounds promising, and was a feature of MS Money that I have very much missed. Haven't decided yet if it's worth the $50 to upgrade to 2011.",
"title": ""
},
{
"docid": "dcf7b6129f6a8a9145f65dc426f9870e",
"text": "PocketSmith is another tool you might like to consider. No personal banking details are required, but you can upload your transactions in a variety of formats. Pocketsmith is interesting because it really focus on your future cash flow, and the main feature of the interface is around having a calendar(s) where you easily enter one off or repetitive expenses/income. http://www.pocketsmith.com/",
"title": ""
},
{
"docid": "1c4a0bcd6ec884cb4e38e9035f7e5ffb",
"text": "I haven't used it in years, but look at GnuCash. From the site, one bullet point under Feature Highlights:",
"title": ""
},
{
"docid": "457c5bf12f90218237dd69a0c2508da6",
"text": "\"Moneydance is a commercial application that is cross-platform. Written in Java, they run and are supported on Windows, Mac and Linux. They integrate with many financial institutions and for those that it cannot, you can import a locally downloaded file. I have used it for several years on my Mac, but have no company affiliation. I'm not sure if by saying \"\"Unix\"\" software you meant FOSS of some kind, but good luck in any case.\"",
"title": ""
},
{
"docid": "b1bdb3370adf99f1ab0f40a9875ad800",
"text": "I use http://moneydance.com/ it has Mac, Windows and Linux versions and works well for my needs.",
"title": ""
},
{
"docid": "90b0557ba3649538e4ef1b972e18f484",
"text": "Mint.com is a fantastic free personal finance software that can assist you with managing your money, planning budgets and setting financial goals. I've found the features to be more than adequate with keeping me informed of my financial situation. The advantage with Mint over Microsoft Money is that all of your debit/credit transactions are automatically imported and categorized (imperfectly but good enough). Mint is capable of handling bank accounts, credit card accounts, loans, and assets (such as cars, houses, etc). The downsides are:",
"title": ""
},
{
"docid": "afae3b9d38616f166679f52fff990a33",
"text": "I use GnuCash which I really like. However, I've never used any other personal finance software so I can't really compare. Before GnuCash, I used an Excel spreadsheet which works fine for very basic finances. Pros Cons",
"title": ""
},
{
"docid": "c06409db3a289957c3d619a503dadff6",
"text": "It's been a long time since I've used MS Money and/or Quickbooks (never Quicken), but I've used GnuCash over the past year or so. It works, but it does suffer from some usability problems. Some of the UI is clunky. Data entry sequences are a little harder than they should be. Reports could be a little prettier. But overall it does work, and it's the best I've found on linux. (I would definitely appreciate pointers to something better.)",
"title": ""
},
{
"docid": "9ebc43ac297c2c5d3bad28059236f170",
"text": "Check the Financial section in this list of Open Source Software",
"title": ""
},
{
"docid": "148237704e8e1e2cc3f9c189e917adfb",
"text": "\"The fair tax is a proposal to replace the US income tax with a sales tax. Pros of Fair Tax: It's a large change to the way the United States currently does things. The \"\"Fair Tax Act of 2011\"\" is H.R.25 in the US House and S.13 in the Senate. The full text of the bill is available at the links provided. There are some fairly large consequences of implementing a fair tax. For example, 401ks and Roth IRAs serve no benefit over non-retirement investments. Mortgages would no longer have a tax advantage. Luxury items would get far more expensive.\"",
"title": ""
}
] | fiqa |
df6719502177dac3482894c6b3f476c0 | Ongoing things to do and read to improve knowledge of finance? | [
{
"docid": "cf879d817b1a282b62a24a5bf1dc6ed0",
"text": "\"I'm another programmer, I guess we all just like complicated things, or got here via stackoverflow. Obligatory tedious but accurate point: Investing is not personal finance, in fact it's maybe one of the less important parts of it. See this answer: Where to start with personal finance? Obligatory warning for software developer type minds: getting into investing because it's complicated and therefore fun is a really awful idea from a financial perspective. Or see behavioral finance research on how analytical/professional/creative type people are often terrible at investing, while even-tempered practical people are better. The thing with investing is that inaction is better than action, tried and true is better than creative, and simple is better than complicated. So if you're like me and many programmers and like creative, complicated action - not good for the wallet. You've been warned. That said. :-) Stuff I read In general I hate reading too much financial information because I think it makes me take ill-advised actions. The actions I most need to take have to do with my career and my spending patterns. So I try to focus on reading about software development, for example. Or I answer questions on this site, which at least might help someone out, and I enjoy writing. For basic financial news and research, I prefer Morningstar.com, especially if you get the premium version. The writing has more depth, it's often from qualified financial analysts, and with the paid version you get data and analysis on thousands of funds and stocks, instead of a small number as with Motley Fool newsletters. I don't follow Morningstar regularly anymore, instead I use it for research when I need to pick funds in a 401k or whatever. Another caveat on Morningstar is that the \"\"star ratings\"\" on funds are dumb. Look at the Analyst Picks and the analyst writeups instead. I just flipped through my RSS reader and I have 20-30 finance-related blogs in there collecting unread posts. It looks like the only one I regularly read is http://alephblog.com/ which is sort of random. But I find David Merkel very thoughtful and interesting. He's also a conservative without being a partisan hack, and posts frequently. I read the weekly market comment at http://hussmanfunds.com/ as well. Most weeks it says the market is overvalued, so that's predictable, but the interesting part is the rationale and the other ideas he talks about. I read a lot of software-related blogs and there's some bleed into finance, especially from the VC world; blogs like http://www.avc.com/ or http://bhorowitz.com/ or whatever. Anyway I spend most of my reading time on career-related stuff and I think this is also the correct decision from a financial perspective. If you were a doctor, you'd be better off reading about doctoring, too. I read finance-related books fairly often, I guess there are other threads listing ideas on that front. I prefer books about principles rather than a barrage of daily financial news and questionable ideas. Other than that, I keep up with headlines, just reading the paper every day including business-related topics is good enough. If there's some big event in the financial markets, it'll show up in the regular paper. Take a class I initially learned about finance by reading a pile of books and alongside that taking the CFP course and the first CFA course. Both are probably equivalent to about a college semester worth of work, but you can plow through them in a couple months each if you focus. You can just do the class (and take the exam if you like), without having to go on and actually get the work experience and the certifications. I didn't go on to do that. This sounds like a crazy thing to do, and it kind of is, but I think it's also sort of crazy to expect to be competent on a topic without taking some courses or otherwise getting pretty deep into the material. If you're a normal person and don't have time to take finance courses, you're likely better off either keeping it super-simple, or else outsourcing if you can find the right advisor: What exactly can a financial advisor do for me, and is it worth the money? When it's inevitably complex (e.g. as you approach retirement) then an advisor is best. My mom is retiring soon and I found her a professional, for example. I like having a lot of knowledge myself, because it's just the only way I could feel comfortable. So for sure I understand other people wanting to have it too. But what I'd share from the other side is that once you have it, the conclusion is that you don't have enough knowledge (or time) to do anything fancy anyway, and that the simple answers are fine. Check out http://www.amazon.com/Smart-Simple-Financial-Strategies-People/dp/0743269942 Investing for fun isn't investing for profit Many people recommend Motley Fool (I see two on this question already!). The site isn't evil, but the problem (in my opinion) is that it promotes an attitude toward and a style of investing that isn't objectively justifiable for practical reasons. Essentially I don't think optimizing for making money and optimizing for having fun coexist very well. If investing is your chosen hobby rather than fishing or knitting, then Motley Fool can be fun with their tone and discussion forums, but other people in forums are just going to make you go wrong money-wise; see behavioral finance research again. Talking to others isn't compatible with ice in your decision-making veins. Also, Motley Fool tends to pervasively make it sound like active investing is easier than it is. There's a reason the Chartered Financial Analyst curriculum is a few reams of paper plus 4 years of work experience, rather than reading blogs. Practical investing (\"\"just buy the target date fund\"\") can be super easy, but once you go beyond that, it's not. I don't really agree with the \"\"anyone can do it and it's not work!\"\" premise, any more than I think that about lawyering or doctoring or computer programming. After 15 years I'm a programming expert; after some courses and a lot of reading, I'm not someone who could professionally run an actively-managed portfolio. I think most of us need to have the fun part separate from the serious cash part. Maybe literally distinct accounts that you keep at separate brokerages. Or just do something else for fun, besides investing. Morningstar has this problem too, and finance.yahoo.com, and Bloomberg, I mean, they are all interested in making you think about investing a lot more than you ought to. They all have an incentive to convince you that the latest headlines make a difference, when they don't. Bottom line, I don't think personal finance changes very quickly; the details of specific mutual funds change, and there's always some new twist in the tax code, but the big picture is pretty stable. I think going in-depth (say, read the Chartered Financial Analyst curriculum materials) would teach you a lot more than reading blogs frequently. The most important things to work on are income (career) and spending (to maximize income minus spending). That's where time investment will pay off. I know it's annoying to argue the premise of the question rather than answering, but I did try to mention a couple things to read somewhere in there ;-)\"",
"title": ""
},
{
"docid": "adf9e253173451846ae5fda97ba27fd4",
"text": "The best learning technique for me is not to dredge through books in order to gain a better understanding of finance. This is tedious and causes me to lose interest. I'm not sure of your tolerance for this type of learning. I tend to learn in small pieces. Something piques my interest and I go off reading about that particular topic. May I suggest some alternate methods:",
"title": ""
},
{
"docid": "82a09b9d442f67a6f71c5eed67c103fd",
"text": "Good luck!",
"title": ""
},
{
"docid": "be82c3281256bdb8267fe42b4086d9e8",
"text": "I've found Pragmatic Capitalism very helpful.",
"title": ""
},
{
"docid": "5ac2024a51ee08822de105835d47809c",
"text": "\"For learning about finances my main two financial resources are this site, and the Motley Fool. My secondary sources are keeping up with columns by my favourite economic journalists - in the press in the US, Australia, England, and India. Regarding your comment about feeling green on the basics despite the reading - you're not alone. I've been interested in financials for better than 10 years, but there are a lot of questions on this site where I say to myself, \"\"I've no idea of what the answer could be, what are our resident experts saying?\"\" Having said that, there are some topics where I feel as though I can weigh in - and they tend to be where I have a little book knowledge and a lot of personal experience.\"",
"title": ""
},
{
"docid": "673f44f21a17a28d1cc92f17625b3384",
"text": "\"Before you can truly learn, you must unlearn first. I recommend the book \"\"Fooled by Randomness\"\" by Nassim Taleb.\"",
"title": ""
}
] | [
{
"docid": "c15f5c199a1f0c161a1d09258410508b",
"text": "Best of luck! Just an FYI, a great deal of finance firms look for people like you. The way you perceive things is completely different from the way someone who is traditionally trained in finance. Look into some peers of DE. Also, Private Equity (PE) firms...mainly the ones dealing with bio/pharma/whatever you specialize in. What are your excel skills like? Make them better! No mouse. Know VLOOKUP, GETPIVOTDATA, etc. Again, not to become redundant, but figure out what you want to do and go from there... If you are good/quick with your math look for trading. There are a lot of books out there on the subject of trading. Liar's Poker by Michael Lewis, will give you an insight to the lifestyle/mantra of traders (during the 80s). If you like digging into numbers/investigating things you may want to look into a more analytical role. To figure out if you like this read some financial statements. Look on SEC.gov, navigate to EDGAR. Look up a 10-k (annual report) and a 10-q (quarterly report). See if you like poking around/figuring out why and how things work. Hit up seekingalpha.com. This is a hodgepodge of people's opinion. Saying why they want to buy/sell a security. Look at the reasons. They will cite certain economic indicators or other signals. Seekingalpha is a place that can show you how financial types think. See how your views differ or align. Or even if you can expand on what they are saying. Investopedia is a great place to learn jargon and other terms. Frequent this place. Key terms: http://www.financialmodelingguide.com/financial-modeling-tips/tips/banking-financial-terms/ This gives short definitions. Investopedia will give you in depth definitions. Are you currently employed as a RandomAcademicDean? Does your college offer free courses to staff? If yes, take some classes FOR FREE! Take an accounting course (skip managerial, stick with financial), an econ course, a finance course. I am going to assume your college offers a class in Econometrics. Talk to one of the professors, if you think this class would be manageable, sign up. They will probably say your should take MACRO and MICRO. This is true, but you have a P.h.D in Chemistry so you have a demonstrated aptitude towards academia. Econometrics, in short, can be considered the science of business. Bottom line: Figure our your interest within the financial realm, act upon it. Play up your knowledge in chemistry (as a quantitative science) and experience as a dean (think management role). tl;dr soak up knowledge. regurgitate when necessary. P.h.D = good. read a lot. Finance is a big world, you will fit in!",
"title": ""
},
{
"docid": "faa8b56eb94acc86948a4221b8a79aa5",
"text": "Assuming you were immersed in math with your CS degree, the book **'A Non-Random Walk Down Wall Street' by Andrew Lo** is a very interesting book about the random walk hypothesis and it's application to financial markets and how efficient markets might not necessarily imply complete randomness. Lots of higher level concepts in the book but it's an interesting topic if you are trying to branch out into the quant world. The book isn't very specific towards algorithmic trading but it's good for concept and ideas. Especially for general finance, that will give you a good run down about markets and the way we tackle modern finance. **A Random Walk Down Wall Street** (which the book above is named after) by **Burton Malkiel** is also supposed to be a good read and many have suggested reading it before the one I listed above, but there really isn't a need to do so. For investing specifically, many mention **'The Intelligent Investor' by Benjamin Graham** who is the role model for the infamous Warren Buffet. It's an older book and really dry and I think kind of out dated but mostly still relevant. It's more specifically about individual trading rather than markets as a whole or general markets. It sounds like you want to learn more about markets and finance rather than simply trading or buying stocks. So I'd stick to the Andrew Lo book first. --- Also, since you might not know, it would be a good idea to understand the capital asset pricing model, free cash flow models, and maybe some dividend discount models, the last of which isn't so much relevant but good foundations for your finance knowledge. They are models using various financial concepts (TVM is almost used in every case) and utilizing them in various ways to model certain concepts. You'd most likely be immersed in many of these topics by reading a math-oriented Finance book. Try to stay away from those penny stock trading books, I don't think I need to tell a math major (who is probably much smarter than I am) that you don't need to be engaging in penny stocks, but do your DD and come to a conclusion yourself if you'd like. I'm not sure what career path you're trying to go down (personal trading, quant firm analyst, regular analyst, etc etc) but it sounds like you have the credentials to be doing quant trading. --- Check out www.quantopian.com. It's a website with a python engine that has all the necessary libraries installed into the website which means you don't have to go through the trouble yourself (and yes, it is fucking trouble--you need a very outdated OS to run one of the libraries). It has a lot of resources to get into algorithmic trading and you can begin coding immediately. You'd need to learn a little bit of python to get into this but most of it will be using matplotlib, pandas, or some other library and its own personal syntax. Learning about alpha factors and the Pipeline API is also moderately difficult to get down but entirely possible within a short amount of dedicated time. Also, if you want to get into algorithmic trading, check out Sentdex on youtube. He's a python programmer who does a lot of videos on this very topic and has his own tool on quantopian called 'Sentiment Analyzer' (or something like that) which basically quantifies sentiment around any given security using web scrapers to scrape various news and media outlets. Crazy cool stuff being developed over there and if you're good, you can even be partnered with investors at quantopian and share in profits. You can also deploy your algorithms through the website onto various trading platforms such as Robinhood and another broker and run your algorithms yourself. Lots of cool stuff being developed in the finance sector right now. Modern corporate finance and investment knowledge is built on quite old theorems and insights so expect a lot of things to change in today's world. --- With a math degree, finance should be like algebra I back in the day. You just gotta get familiar with all of the different rules and ideas and concepts. There isn't that much difficult math until you begin getting into higher level finance and theory, which mostly deals with statistics anyways like covariance and regression and other statistic-related concepts. Any other math is simple arithmetic.",
"title": ""
},
{
"docid": "31edf85d0253e45a86d4bf8992add560",
"text": "Tim Ferris has some pretty good finance related episodes with hedge fund managers or personal finance authors (for e.g. the one with Ray Dalio or Tony Robbins). They are not exclusively finance related but include some pretty in-depth conversations. 20-Minute VC is also great if you're interested in Venture Capital.",
"title": ""
},
{
"docid": "e031f2603fab3e6d0c25543deb560f8d",
"text": "Also you have to be aware that there's an academic finance which is very nice and clean and mathematical, and then there is finance how it works in the real world, which is chaotic and unpredictable. CFA books, as mentioned by another poster, would be good for learning the former, but don't expect that knowledge to be of any practical value unless you are trying to get a degree or certification. If you do want to go that route, focus more on information about individual financial products and less on financial market behavior. If you want to learn more about how the markets actually work I would have to say that it's going to be very hard without any industry experience. When I started my first job after getting my finance degree I knew absolutely nothing about how things worked. There are some good books, though more of a good story than teaching material. Try Michael Lewis.",
"title": ""
},
{
"docid": "80c3bca0cefb917a25817e527ebb492e",
"text": "If you've already done some micro and macro, you are on the right track to learn finance. What you should study next depends on what kind of finance you want to know more about. Is it M&A and corporate finance, more macro would not help much, but maybe some financial accounting. You could see if you could get your hands on a corporate finance text book since they are a good starting place to learn more about finance in general (and such a book is a relatively easy read). Much finance, however, requires good quantitative skills so probability, statistics, linear algebra and calculus, and their applications to finance, is never a bad thing to look into. This would open up for understanding e.g. derivatives that played a huge role in the financial crisis and in financial markets today.",
"title": ""
},
{
"docid": "e345d081e08d6227942a8e4623a2709d",
"text": "I'd start with learning how to read a company's financial statement and their annual report. I would recommend reading the following: All three books are cheap and readily available. If you really want to enhance your learning, grab a few annual reports from companies' websites to reference as you learn about different aspects of the financial statements.",
"title": ""
},
{
"docid": "5fac573afe5b5ce258d69594d7a172a9",
"text": "My reading list for someone just getting into personal finance would include the following I know it's a bunch but I'm trying to cover a few specific things. Yeah it's a bit of reading, but lets face it, nobody is going to care as much about your money as YOU do, and at the very least this kind of knowledge can help fend off a 'shark attack' by someone trying to sell you something not because it's best for you, but because it earns them a fat commission check. Once you've covered those, you have a good foundation, and oh lord there's so many other good books that you could read to help understand more about money, markets etc.. Personally I'd say hit this list, and just about anything on it, is worth your time to read. I've used publishers websites where I could find them, and Amazon otherwise.",
"title": ""
},
{
"docid": "4d0a5ec79a19cac0b8b3e5a05ca08dd0",
"text": "\"I would recommend \"\"How to Read a Financial Report : For Managers, Entrepreneurs, Lenders, Lawyers, and Investors\"\" by John A. Tracy for the following reasons: I also think the book would bridge the gap nicely between a broad understanding of finance and a more serious technical know-how.\"",
"title": ""
},
{
"docid": "18fdf9e3dfc67a60abdd1702ae7f00b6",
"text": "Start at Investopedia. Get basic clarification on all financial terms and in some cases in detail. But get a book. One recommendation would be Hull. It is a basic book, but quite informative. Likewise you can get loads of material targeted at programmers. Wilmott's Forum is a fine place to find coders as well as finance guys.",
"title": ""
},
{
"docid": "691d30be5ea3ac2d0d01dfe13974d43d",
"text": "For economics I recommend mises or these videos to get you started. For daily critical analysis of financial markets, keynesian government policies, and other interesting reading I recommend zerohedge. I've learned more about financial markets and government regulations by reading the comments section on zerohedge articles than anywhere else on the internet. The comment section is very raw (i.e. lots of fucking cursing) but there are some jewels of information in there. For daily critical thinking I suggest lewrockwell.",
"title": ""
},
{
"docid": "6691ca2c034ab6b8013f2822f920b404",
"text": "Financial literacy for individuals is the instruction and comprehension of different money related issues. This subject concentrates on the capacity to manage personal finance matters in a productive way, and it incorporates the information of settling on suitable choices about individual finance, for example, insurance premiums, educational fees, real estate investments, tax planning, retirement saving, budget management and so on. Let's have a look at the importance of Financial Literacy in an Individual's life so that it can become a source of inspiration for you. Inspiration and financial literacy for individuals enable people to end up plainly independent with the goal that they can accomplish budgetary solidness. The individuals who comprehend the subject ought to have the capacity to answer a few inquiries concerning buys, for example, regardless of whether a thing is required, whether it is reasonable, and whether it a benefit or a risk. Financial literacy for individuals shows the practices and states of mind a man has about cash that is connected to his everyday life. Financial literacy demonstrates how an individual settles on monetary choices. This attitude can enable a man to build up a money related guide to distinguish what he procures, what he spends and what he owes. The absence of financial education can prompt owing a lot of obligation and settle on poor monetary choices. For instance, the preferences or drawbacks of settled and variable loan costs are ideas that are less demanding to comprehend and settle on educated choices about in the event that you have monetary proficiency abilities. Monetary proficiency training ought to likewise incorporate hierarchical abilities, consumer rights, innovation and worldwide financial matters in light of the fact that the condition of the worldwide economy incredibly influences the U.S. Economy. As per the saying of one of the renowned actor cum producer, Lucille Bell, 'Keeping busy and making optimism a way of life can restore your faith in yourself'. Yes, the current market trend has proved this inspirational quote to a true extent. Investing money into trading and financial market is a hard nut to crack and it requires a thought-provoking financial inspiration for individuals. To earn handsome money, you need to become smart enough to understand the market behavior, market flows and all the associated ups and downs. Now, you are confused. No, you don't need to hold an MBA degree or become a financial expert to learn lucrative investing skills. Wealth Generators is there for you to make you learn all the essentials techniques required to make your hard earned money provide you with the best output which you can never imagine. Yes, optimism and the smart skills are the two pivotal ways to get success over the curvature of the financial twisting. We are considered to be one stop financial inspirations for individuals who wish to earn money by making smart investments. It all has become possible due to years of research and development of our financial veterans and their innovative attitude in developing financial tools. The amalgamation of the computer, communication technologies and our educational financial tools have lowered the risk of investments. With a commitment and optimistic approach, you can earn good money in no time, if you have proper market knowledge. Our experts have done extensive research and they are always updated with the latest insights of the trading and investment markets. We believe that your solid financial inspiration to save your expenses and turning them into handsome profits can make you a wealthy person. So, if you are really willing it, Wealth Generators is there for you, the ultimate source of your financial inspiration.",
"title": ""
},
{
"docid": "6d56f8bf83590a9ac0d1ef077142de80",
"text": "\"practice using excel more read more books on investing, practice making investing thesis, practice remaining \"\"nice\"\" while getting good and bad critique, expand your knowledge (it is impossible to be the best at everything in investing due to the multiple forms of investing that have contradicting principles), and think economics. Finance will be useless if you have a very limited understanding of \"\"scarcity\"\"\"",
"title": ""
},
{
"docid": "fdbfb8037f2d87473954bde0347c4882",
"text": "\"in undergrad business, you will have a broad scope of information to cover, and schools and professors will vary widely in how they approach it. it will be hard to say for certain how you can edge out your peers before knowing what they are looking for. however, finance and business are intellectually nebulous, especially at the undergrad level. your best bet is to maintain a broad set of interests and stay well read on them. i would recommend watching Bloomberg fairly regularly, opening a brokerage account and taking advantage of the reps you can talk to, and reading news like The Atlantic and Washington Post, among others, as long as they are well reasoned and contemporary accounts. classic and modern economics books will give you superior frameworks in which to look at the \"\"smaller\"\" world of finance, which should set you apart from your peers as well.\"",
"title": ""
},
{
"docid": "b136684aff859e57a18347bea96e2291",
"text": "Can anyone recommend a good textbook for a first course in finance? I'm not studying it, if it's relevant--I'm just a guy who wants a better understanding of the financial sector. I don't know anything anout finance outside a few basic concepts.",
"title": ""
},
{
"docid": "7d728d68b8cf974e8afddafb8687cce7",
"text": "\"Yep, most 401k options suck. You'll have access to a couple dozen funds that have been blessed by the organization that manages your account. I recently rolled my 401k over into a self-directed IRA at Fidelity, and I have access to the entire mutual fund market, and can trade stocks/bonds if I wish. As for a practical solution for your situation: the options you've given us are worryingly vague -- hopefully you're able to do research on what positions these funds hold and make your own determination. Quick overview: Energy / Utilities: Doing good right now because they are low-risk, generally high dividends. These will underperform in the short-term as the market recovers. Health Care: riskier, and many firms are facing a sizable patent cliff. I am avoiding this sector. Emerging Markets: I'm also avoiding this due to the volatility and accounting issues, but it's up to you. Most large US companies have \"\"emerging markets\"\" exposure, so not necessary for to invest in a dedicated fund in my unprofessional opinion. Bonds: Avoid. Bonds are at their highest levels in decades. Short-term they might be ok; but medium-term, the only place to go is down. All of this depends on your age, and your own particular investment objectives. Don't listen to me or anyone else without doing your own research.\"",
"title": ""
}
] | fiqa |
156e597f1f1cf1acfc23ce254592811a | Is it a good idea to teach children that work is linearly related to income? | [
{
"docid": "f31dda7ea056bafd0f34fcf366fb7690",
"text": "I think that is the wrong approach. You certainly need to teach the value of work, but you cannot tie it to income levels as a hard and fast rule. If you do, how do you then explain athletes making millions per year and only 'working' half a year, at most. And, then comparing that person to a person working hard in a factory, 40-50 hours per week, 50 weeks per year, bringing home $50K per year? I've always taught my kids to work hard and with integrity. And, most importantly, you better enjoy the work you do because no matter how much money you make, if you dread getting up in the morning to go to work, your money won't make you happy. I've never focused on the amount of money they should be making.",
"title": ""
},
{
"docid": "085e66370274aa1b61b09d21ff717302",
"text": "\"Completely linear? We don't do that. Our daughter has a fixed allowance, and we expect a certain amount of help around the house as being part of the family. We don't make any explicit ties between the two, and we don't seem to have any problems. We bought an eBay lot of Polly Pockets and divided them up into $5 bags. (This is a better deal that what we could get in the store new.) Her allowance isn't enough that she can \"\"buy\"\" one every week. After sensing her frustration we gave her the opportunity to earn some more money by doing extra work. It happened to be cleaning up after our dogs in the back yard, a chore we had neglected for quite a while. She stuck with the job, and truly earned that money. (She'll be six in January.) What's more, it was a good deal for me. It needed to be done, and I didn't really want to do it. :) So, for now this seems like a fair balance. It prevents her from getting the idea that she won't work unless she gets paid, but she also knows that working harder does have its rewards. We still have time to teach her the idea of working smarter. (This isn't a formal study. It's just my experience.)\"",
"title": ""
},
{
"docid": "9a4f976ac8ce0d95985cc6b5d249bf5e",
"text": "\"I don't know if it counts as a formal answer, but Dale Carnegie has always preached that income is related to how well you treat and get along with other people. His observation is that the highest paid people are those with the best people skills, because the ability to manage other people has higher value than singular ability. Conversely, people making minimum wage often work \"\"harder\"\" than people making more money. The old saw about \"\"work smart, not hard\"\" is a bit trite. In many fields, efficiency is valued over \"\"hard work\"\".\"",
"title": ""
},
{
"docid": "229bfdcdabdb2a77909d521d6ab2afd9",
"text": "As a parent I think you absolutely have to teach them that income is related to work because (for most people at least) it's a more fundamental principle than budgeting, investments, interest, etc. Once they've learned that the primary source of income is work, then you can start teaching them what to do with it, i.e. how to budget, economise, save, invest, etc.",
"title": ""
},
{
"docid": "42026be554b2f898a91d068d37768b3a",
"text": "Get a copy of Capitalism for Kids - finally back in print (after being out of print for years). It's a great introduction to being an entrepreneur, aimed at young people. Six years old might be a bit early, though - but definitely before the teenage years.",
"title": ""
},
{
"docid": "729b6bfef28bbe7ae292e6b08c4b0f67",
"text": "\"My family instilled in me early on that hard work was important, and the output of that work was its reward. My grandparents really made in impression with me about telling the truth and being fair (probably after I was busted for lying and cheating about something) -- I remember my grandfather talking about the solem trust associated with shaking hands over something. I remember opening a savings account at school on bank day and being really excited about the interest accruing... but my folks never really allowed us to spend it on toys or other stuff. I didn't really think about money at all until I was probably about 10 or 11, when I started watching \"\"Wall Street Week\"\" on PBS with my dad on Friday night and bombarding him with dozens of questions. Then games like Sim City really got me going... my grandmother was always amazed that I was talking about bonding construction projects. I think that before 10 or so, kids needn't concern themselves with money, but should understand responsibility, the rewards that come from working hard, and the consequences for not doing so.\"",
"title": ""
}
] | [
{
"docid": "74bf67d76d561971c72d84520a3617da",
"text": "Nothing for nothing, everyone is given the opportunity to roll their tax refund into an IRA at tax time. Given the EIC such there is little reason most low income families with children couldn't max out for a few years early on in a target retirement fund. But buying stuff is a much more popular option i guess. I do not know why learning math of money is not given more focus in school rather than other trivial things...",
"title": ""
},
{
"docid": "ed0a834861a6e3accdc94feb5d815429",
"text": "If these are children that may be employed, in a few years, it may well be worth walking them through some basics of the deductions around employment, some basic taxes, uses of banks, and give them enough of a basis in how the economy of the world works. For example, if you get a job and get paid $10/hour, that may sound good but how much do various things eat at that so your take-home pay may be much lower? While this does presume that the kids will get jobs somewhere along the way and have to deal with this, it is worth making this part of the education system on some level rather than shocking them otherwise. Rather than focusing on calculations, I'd be more tempted to consider various scenarios like how do you use a bank, what makes insurance worth having(Life, health, car, and any others may be worth teaching on some level), and how does the government and taxes fit into things. While I may be swinging more for the practical, it is worth considering if these kids will be away in college or university in a few years, how will they handle being away from the parents that may supply the money to meet all the financial needs?",
"title": ""
},
{
"docid": "507873cbe1c9ab229be952c9605f068f",
"text": "My friend runs a vocation school for high school students. They have a number of programs where they teach specific machines and techniques to students and companies provide teaching, sponsorship, and hire students. It is a win-win for the school, they get some machinery, a good relationship with a large company, and they get kids hired every year at a very good starting salary. It isn't so specific that the kids are useless anywhere else, the companies just provide curriculum input on what is important.",
"title": ""
},
{
"docid": "8d5576aaeb2e53cae59db6dbc7a6bf75",
"text": "I received an allowance growing up. There were stipulations on what I had to do with it that helped instill the values my parents wanted - in their case they were hoping to teach me to give money to my church, so I had a mandatory amount that I had to give when I received the allowance. To this day I still give money to the church, so I guess it stuck. The allowance was tied to my doing some basic chores around the house - but loosely. It wasn't a reward for doing those chores, but it would be taken away if I didn't do them. Before I was of a legal working age I could do larger unusual tasks around the house for more money. The relationship between chores and some form of allowance is, I think, tricky. I don't think kids should be taught that the only reason to work is to earn money. They won't earn money for keeping their future homes clean or by volunteering at the local food bank, but these are both good things to do. At the same time it is good to teach that work has a reward and that lack of work means lack of a reward. My parents set up a savings account for me quite early. Largely what went in there was birthday cash from relatives (a great thing to talk to any family members who might give your kids gifts about) and the income from my once-yearly sale of baked goods at a craft fair. These were bigger amounts of money that I could take pride in depositing, and keeping them in a bank helped prevent me from spending them willy-nilly. I also got a credit card at the age of 16 (only allowed in some states in the US, not sure about internationally). My parents oversaw my spending habits with it and made sure I always paid in full and on time. The money I spent was tied to my summer work in high school and college. I thought it was extremely valuable to learn how to manage a credit card before college when the card companies often seem to prey on young customers.",
"title": ""
},
{
"docid": "3f669a469915b6a70b0be966fb64e79e",
"text": "Let's base teacher performance off of student value added growth scores! Surely nothing bad will happen when we create incentivize teachers to make sure that student performance continuously rises. I mean, Campbell's law is just a load of horseshit, right? It's not like these policies led to widespread test cheating in Atlanta and Washington, DC, and several other cities. In all seriousness, look at what happened in Washington, DC. Student performance was used as the metric by which the district meted out both the carrot and the stick: the $160k paycheck or dismissal. 103 schools out of 200 or so were found to have statistical indicators of cheating, in some schools nearly 100% of tested classrooms were found to have wrong-to-right erasures in statistically aberrant levels. This wasn't found out until years after these test scores were used to evaluate a whole crop of teachers. Suppose you were the teacher whose children had previously been scored by cheating teachers or administrators. The model used to evaluate you expects that these children will see test score growth of *x* percent each year. If you don't cheat, you will get fired. If you do cheat, you become eligible to get a shitton of money. All that aside, the debate shouldn't even be about using student performance to evaluate teachers. The debate shouldn't be about who gets laid off. The debate should be about how we prevent teachers from getting laid off.",
"title": ""
},
{
"docid": "990d7cea7a0d872a8b50cca148e7d234",
"text": "\"This is a common and good game-plan to learn valuable life skills and build a supplemental income. Eventually, it could become a primary income, and your strategic risk is overall relatively low. If you are diligent and patient, you are likely to succeed, but at a rate that is so slow that the primary beneficiaries of your efforts may be your children and their children. Which is good! It is a bad gameplan for building an \"\"empire.\"\" Why? Because you are not the first person in your town with this idea. Probably not even the first person on the block. And among those people, some will be willing to take far more extravagant risks. Some will be better capitalized to begin with. Some will have institutional history with the market along with all the access and insider information that comes with it. As far as we know, you have none of that. Any market condition that yields a profit for you in this space, will yield a larger one for them. In a downturn, they will be able to absorb larger losses than you. So, if your approach is to build an empire, you need to take on a considerably riskier approach, engage with the market in a more direct and time-consuming way, and be prepared to deal with the consequences if those risks play out the wrong way.\"",
"title": ""
},
{
"docid": "adedf1ea18ad70cc0b189c995f212dab",
"text": "That is absolute madness. The repercussions of that are, I believe, not being properly factored into your calculation. If I'm an entry level employee, and I have lots of kids, I may receive fairly generous public dollars. If I have no kids, I won't. Is your solution to pay all entry level employees more, or just to pay people who have kids more? Neither of these is without consequence.",
"title": ""
},
{
"docid": "ca0655d8f4843f485f7ccfde36fc00ce",
"text": "\"Educating everyone is a cultural investment, but not necessarily a good fiscal investment. (for the govt.) 200 years ago, being able to read and perform arithmetic pretty much guaranteed you an ok job, because it was a rare skillset. The government decided that everyone being able to read and do basic maths would be a good thing, so they force us all to pay for it and they force us all to attend school. So, most of the country has a basic education. That's obviously a good thing, but it doesn't guarantee everyone in the country a good job. If 1000's of people have the same skillset and are all applying for the same job, it's impossible to differentiate job candidates. In the job market, a skill that everyone has is effectively valueless. The same thing is happening with college. We have tons of college graduates that are all applying for the exact same jobs, and we (as a society) have produced more people to do that small group of jobs and haven't produced any people to do other jobs. Somewhat ironically immigrant workers do a lot of the work we should be doing ourselves, but we all went to college and all want to do the same \"\"good/high paying/etc\"\" jobs. And there's too many of us and not very much demand for the skills we can deliver. So, giving secondary educations to even more people, wouldn't be a bad thing in and of itself. But it wouldn't help anyone find work.\"",
"title": ""
},
{
"docid": "cd79afa73003db92748a002906f31009",
"text": "\"For \"\"real\"\" investing I would usually recommend mutual funds. But if you are trying to teach a kid about investing, I would recommend they choose individual stocks. That will give them a great opportunity to follow the companies they bought in the news. It also gives you an opportunity to sit down with them periodically and discuss their companies performance, economic news, etc. and how those things play into stock prices.\"",
"title": ""
},
{
"docid": "2167de76000ef361b55806896282830e",
"text": "\"Unfortunately, where I live, minimum wage is what is available to High School graduates. We have an abundance of minimum wage jobs looking to hire, and no docks, and few greater than minimum wage jobs for people right out of High School. And minimum wage isn't enough to support a person here. I think school costs have gone up for more than just loans for everyone. Our colleges have administration bloat, huge wages for the top few, and are being run like businesses rather than schools: profit over people. Their educational license still stands, but they work to increase their profit rather than increase their quality of education. I understand that there is a large \"\"blame game\"\" going on about why people are poor or undeserving. They are lazy. They are drug addicts and gangsters. They are entitled. Any excuse we can come up with to not help the other guy. The other issue is HOW we help the other guy: Do we hand them money and say, \"\"Go out and succeed\"\"? That's been our current method. But both of these issues again fall to education! If we can improve education so it teaches people how to have an impact on their world, how to find something they can do well, and how to succeed, then we can resolve the other issues. Right now, our schools teach basic skills: Math, Science, Reading to the extent that the students can past the tests. But the world is not built on Math, Science, and Reading. They are important, but more important are social skills, resource allocation and utilization, self-learning, testing and verifying. Teach them the basics! We need them! But teach them to be self-controlling, self-responsible people. I know this is part of the third paragraph, but I find, on the outset, we may seem like we have completely different views, when in reality, it is simply where we put the emphasis, not the actual view itself, that differs.\"",
"title": ""
},
{
"docid": "4042edc1b15b5ef9e49fc907d8b2ba76",
"text": "\"idea that somehow people will take a lower income job and automatically grow into a higher paying one. It doesn't happen automatically. But it does happen all the time. It's climbing the corporate ladder if you will. \"\"leads to trying to have a workforce that's minimum wage with little room for growth\"\" Simply untrue at most successful companies. If you provide value, they pay you what your worth or you jump (if you are smart enough). I see it all the time. Minimum wage may or may not have kept up with inflation, by that's like saying working at McDonald's only affords me such and such lifestyle. Defined circumstances are required to solve the problem. Inflation isn't directly solved by upping the minimum wage so move on to a better solution. \"\"Jobs a worthy cry but can't be only metric to ensure people have opportunity to live decently\"\". Jobs are the opportunity. Where there is specific abuse in the workplace denying people equal job opportunity, we fight it. If you don't pay me enough, and I am forced to work for you... that's called indentured servitude which is an abuse and illegal as humans are property in such a case. But if you force me to pay you more than I want to, somehow that's okay? Goes both ways. Leave to a company that pays you what your worth if I don't pay you enough. This is how the most people grow over time to better salaries and more prestigious titles. \"\"Lots of college grads with low paying jobs\"\" Define \"\"low paying\"\". I'm a college grad. Wife is too. Lots of people I know are. What $ we make varies greatly from person to person based largely upon the opportunities we created/took not because of a mandated min wage.\"",
"title": ""
},
{
"docid": "8a979a73f77054a714c784cc7b2ad6e0",
"text": "The value of money is not only in the earning and saving of it but also in the discipline in spending it. Any approach to teaching children about money must ensure a balance between the two otherwise they will either become fearful of spending (and so never actually learn that money is but a tool and can be enjoyed) or irresponsible (spending with abandon with all that concomitant misery): Teaching kids about money is a wonderful opportunity to instil discipline and values. Any strategy must be structured to suite the child's age and abilities as well. Trying to teach compound interest to too young a child will just become needlessly confusing and worrying for them. Hope this gives a few ideas.",
"title": ""
},
{
"docid": "9e8ab7bad2338f1701bb254dfdb8835e",
"text": "\"Nobel laureate economist, Paul Krugman, wrote a piece many moons ago about economic expansion and money supply. As an illustration of how money supply affects the economy, he used the example of a baby-sitting co-op. While simplistic, it provides an easy to grasp notion of how printing money and restricting it (e.g. by pegging the currency to gold reserves) can affect the economy. Here is an excerpt from his webpage ( http://web.mit.edu/krugman/www/howfast.html ): \"\"With the decline of the traditional extended family, in which relatives were available to take care of children at need, many parents in the United States have sought alternative arrangements. A popular scheme is the baby-sitting coop, in which a group of parents agree to help each other out on a reciprocal basis, with each parent serving both as baby-sitter and baby-sittee. Any such coop requires rules that ensure that all members do their fair share. One natural answer, at least to people accustomed to a market economy, is to use some kind of token or marker system: parents \"\"earn\"\" tokens by babysitting, then in turn hand over these tokens when their own children are minded by others. For example, a recently formed coop in Western Massachusetts uses Popsicle sticks, each representing one hour of babysitting. When a new parent enters the coop, he or she receives an initial allocation of ten sticks. This system is self-regulating, in the sense that it automatically ensures that over any length of time a parent will put in more or less the same amount of time that he or she receives. It turns out, however, that establishing such a token system is not enough to make a coop work properly. It is also necessary to get the number of tokens per member more or less right. To see why, suppose that there were very few tokens in circulation. Parents will want on average to hold some reserve of tokens - enough to deal with the possibility that they may want to go out a few times before they have a chance to babysit themselves and earn more tokens. Any individual parent can, of course, try to accumulate more tokens by babysitting more and going out less. But what happens if almost everyone is trying to accumulate tokens - as they will be if there are very few in circulation? One parent's decision to go out is another's opportunity to babysit. So if everyone in the coop is trying to add to his or her reserve of tokens, there will be very few opportunities to babysit. This in turn will make people even more reluctant to go out, and use up their precious token reserves; and the level of activity in the coop may decline to a disappointingly low level. The solution to this problem is, of course, simply to issue more Popsicle sticks. But not too many - because an excess of popsicle sticks can pose an equally severe problem. Suppose that almost everyone in the coop has more sticks than they need; then they will be eager to go out, but reluctant to babysit. It will therefore become hard to find babysitters - and since opportunities to use popsicle sticks will become rare, people will become even less willing to spend time and effort earning them. Too many tokens in circulation, then, can be just as destructive as too few.\"\" -- Paul Krugman, 1997 (accessed webpage 2010).\"",
"title": ""
},
{
"docid": "e1616d8bf5ea75501f47408abdac52ee",
"text": "\"Although my kid just turned 5, he's learning the value of money now, which should help him in the future. First thing, teach him that you exchange money for goods and services. Let him see the bills, and explain what they're for (i.e. \"\"I pay ISP Co to give us Internet; that lets us watch Youtube and Netflix, as well as play games with Grandma on your GameStation\"\"). After a little while, they will see where it goes, and why. Then you have your automatic bills, such as mortgage payments. I make a habit of taking out the cash after I get paid, and my son comes with me to the bank where I deposit it again (I get paid monthly, so it's only one extra withdraw). He can physically see the money, and understand that if the stack is gone, it's gone. Now that he is understanding things cost money, he wants to make money himself. He volunteers to help clean up the kitchen and vacuum rooms in the house, usually without being asked. I give him a dollar or two for the simple chores like that. Things like cleaning his room or his own mess, he does not get paid for. He puts all his money into his piggy bank, and he has some goals in mind: a big fire truck, a police helicopter, a pool, a monster truck, a boat. Remember he's only 5. He has his goals, and we have the money he's been saving up. We calculate how many times he needs to vacuum the living room, or clean up dishes, to get there, and he realizes it takes a long time. He looks for other ways to make money around the house, and we come up with solutions together. I am hoping in a year or two that I can show him my investments and get him to understand why they make or lose money. I want to get him in to the habit of investing a little bit every few months, then every month, to help his income grow, even if he can't touch the money quite yet.\"",
"title": ""
},
{
"docid": "98b07a3bada1706a14716f012eaff827",
"text": "\"Accounting for this properly is not a trivial matter, and you would be wise to pay a little extra to talk with a lawyer and/or CPA to ensure the precise wording. How best to structure such an arrangement will depend upon your particular jurisdiction, as this is not a federal matter - you need someone licensed to advise in your particular state at least. The law of real estate co-ownership (as defined on a deed) is not sufficient for the task you are asking of it - you need something more sophisticated. Family Partnership (we'll call it FP) is created (LLC, LLP, whatever). We'll say April + A-Husband gets 50%, and Sister gets 50% equity (how you should handle ownership with your husband is outside the scope of this answer, but you should probably talk it over with a lawyer and this will depend on your state!). A loan is taken out to buy the property, in this case with all partners personally guaranteeing the loan equally, but the loan is really being taken out by FP. The mortgage should probably show 100% ownership by FP, not by any of you individually - you will only be guaranteeing the loan, and your ownership is purely through the partnership. You and your husband put $20,000 into the partnership. The FP now lists a $20,000 liability to you, and a $20,000 asset in cash. FP buys the $320,000 house (increase assets) with a $300,000 mortgage (liability) and $20,000 cash (decrease assets). Equity in the partnership is $0 right now. The ownership at present is clear. You own 50% of $0, and your sister owns 50% of $0. Where'd your money go?! Simple - it's a liability of the partnership, so you and your husband are together owed $20,000 by the partnership before any equity exists. Everything balances nicely at this point. Note that you should account for paying closing costs the same as you considered the down payment - that money should be paid back to you before any is doled out as investment profit! Now, how do you handle mortgage payments? This actually isn't as hard as it sounds, thanks to the nature of a partnership and proper business accounting. With a good foundation the rest of the building proceeds quite cleanly. On month 1 your sister pays $1400 into the partnership, while you pay $645 into the partnership. FP will record an increase in assets (cash) of $1800, an increase in liability to your sister of $1400, and an increase in liability to you of $645. FP will then record a decrease in cash assets of $1800 to pay the mortgage, with a matching increase in cost account for the mortgage. No net change in equity, but your individual contributions are still preserved. Let's say that now after only 1 month you decide to sell the property - someone makes an offer you just can't refuse of $350,000 dollars (we'll pretend all the closing costs disappeared in buying and selling, but it should be clear how to account for those as I mention earlier). Now what happens? FP gets an increase in cash assets of $350,000, decreases the house asset ($320,000 - original purchase price), and pays off the mortgage - for simplicity let's pretend it's still $300,000 somehow. Now there's $50,000 in cash left in the partnership - who's money is it? By accounting for the house this way, the answer is easily determined. First all investments are paid back - so you get back $20,000 for the down payment, $645 for your mortgage payments so far, and your sister gets back $1400 for her mortgage payment. There is now $27,995 left, and by being equal partners you get to split it - 13,977 to you and your husband and the same amount to your sister (I'm keeping the extra dollar for my advice to talk to a lawyer/CPA). What About Getting To Live There? The fact is that your sister is getting a little something extra out of the deal - she get's the live there! How do you account for that? Well, you might just be calling it a gift. The problem is you aren't in any way, shape, or form putting that in writing, assigning it a value, nothing. Also, what do you do if you want to sell/cash out or at least get rid of the mortgage, as it will be showing up as a debt on your credit report and will effect your ability to secure financing of your own in the future if you decide to buy a house for your husband and yourself? Now this is the kind of stuff where families get in trouble. You are mixing personal lives and business arrangements, and some things are not written down (like the right to occupy the property) and this can really get messy. Would evicting your sister to sell the house before you all go bankrupt on a bad deal make future family gatherings tense? I'm betting it might. There should be a carefully worded lease probably from the partnership to your sister. That would help protect you from extra court costs in trying to determine who has the rights to occupy the property, especially if it's also written up as part of the partnership agreement...but now you are building the potential for eviction proceedings against your sister right into an investment deal? Ugh, what a potential nightmare! And done right, there should probably be some dollar value assigned to the right to live there and use the property. Unless you just want to really gift that to your sister, but this can be a kind of invisible and poorly quantified gift - and those don't usually work very well psychologically. And it also means she's going to be getting an awfully larger benefit from this \"\"investment\"\" than you and your husband - do you think that might cause animosity over dozens and dozens of writing out the check to pay for the property while not realizing any direct benefit while you pay to keep up your own living circumstances too? In short, you need a legal structure that can properly account for the fact that you are starting out in-equal contributors to your scheme, and ongoing contributions will be different over time too. What if she falls on hard times and you make a few of the mortgage payments? What if she wants to redo the bathroom and insists on paying for the whole thing herself or with her own loan, etc? With a properly documented partnership - or equivalent such business entity - these questions are easily resolved. They can be equitably handled by a court in event of family squabble, divorce, death, bankruptcy, emergency liquidation, early sale, refinance - you name it. No percentage of simple co-ownership recorded on a deed can do any of this for you. No math can provide you the proper protection that a properly organized business entity can. I would thus strongly advise you, your husband, and your sister to spend the comparatively tiny amount of extra money to get advice from a real estate/investment lawyer/CPA to get you set up right. Keep all receipts and you can pay a book keeper or the accountant to do end of the year taxes, and answer questions that will come up like how to properly account for things like depreciation on taxes. Your intuition that you should make sure things are formally written up in times when everyone is on good terms is extremely wise, so please follow it up with in-person paid consultation from an expert. And no matter what, this deal as presently structured has a really large built-in potential for heartache as you have three partners AND one of the partners is also renting the property partially from themselves while putting no money down? This has a great potential to be a train wreck, so please do look into what would happen if these went wrong into some more detail and write up in advance - in a legally binding way - what all parties rights and responsibilities are.\"",
"title": ""
}
] | fiqa |
5850c6f802f7809a0df41d2299c4495f | Considering investing in CHN as a dividend stock | [
{
"docid": "df15c219db2d6fa0d7edb53647ec32e9",
"text": "CHN is a Closed-End Fund. CHN actually pays out three types of distributions: In the case of CHN, they appear to be paying yearly. The most recent dividend, with exdate of 18 Dec 2014, consisted of $3.4669 of Long-term capital gains and $0.2982 cash dividend. Prior to that, the dividend with exdate of 19 Dec 2013 consisted of $2.8753 long-term capital gains and $0.4387 cash dividend. For a standard dividend yield you typically would not expect short-term and long-term capital events to be included in a yield calculation, as these events really only occur in relation to a fund rebalancing (changing its investments) and are not really due to the actual performance of the fund in any way. Most free sites that provide dividend information do not make a distinction on the dividend type. Data source: Premium Data Full Disclosure: I am a co-owner of Premium Data/Norgate.",
"title": ""
},
{
"docid": "d424b29f29d724e29c526bee6f6ce5bf",
"text": "The yield on Div Data is showing 20% ((3.77/Current Price)*100)) because that only accounts for last years dividend. If you look at the left column, the 52 week dividend yield is the same as google(1.6%). This is calculated taking an average of n number of years. The data is slightly off as one of those sites would have used an extra year.",
"title": ""
}
] | [
{
"docid": "715832a0ce5dd6bfc23d850927768807",
"text": "One of my university professors suggested doing this systematically to get access to shareholder meetings where there is typically a nice dinner involved. As long as the stock price + commission is less than the price of a nice restaurant it's actually not a bad idea.",
"title": ""
},
{
"docid": "2fec6683380e14b8eb39ce4db93a54db",
"text": "A specific strategy to make money on a potentially moderately decreasing stock price on a dividend paying stock is to write covered calls. There is a category on Money.SE about covered call writing, but in summary, a covered call is a contract to sell the shares at a set price within a defined time range; you gain a premium (called the time value) which, when I've done it, can be up to an additional 1%-3% return on the position. With this strategy you're collecting dividends and come out with the best return if the stock price stays in the middle: if the price does not shoot up high enough that your option is called, you still own the stock and made extra return; if the price drops moderately, you may still be positive.",
"title": ""
},
{
"docid": "3f55bb3f3499c894a67cb3c1ac0d20ce",
"text": "If you assume the market is always 100% rational and accurate and liquid, then it doesn't matter very much if a company pays dividends, other than how dividends are taxed vs. capital gains. (If the market is 100% accurate and liquid, it also doesn't really matter what stock you buy, since they are all fairly priced, other than that you want the stock to match your risk tolerance). However, if you manage to find an undervalued company (which, as an investor, is what you are trying to do), your investment skill won't pay off much until enough other people notice the company's value, which might take a long time, and you might end up wanting to sell before it happens. But if the company pays dividends, you can, slowly, get value from your investment no matter what the market thinks. (Of course, if it's really undervalued then you would often, but not always, want to buy more of it anyway). Also, companies must constantly decide whether to reinvest the money in themselves or pay out dividends to owners. As an owner, there are some cases in which you would prefer the company invest in itself, because you think they can do better with it then you can. However, there is a decided tendency for C level employees to be more optimistic in this regard than their owners (perhaps because even sub-market quality investments expand the empires of the executives, even when they hurt the owners). Paying dividends is thus sometimes a sign that a company no longer has capital requirements intense enough that it makes sense to re-invest all of its profits (though having that much opportunity can be a good thing, sometimes), and/or a sign that it is willing, to some degree, to favor paying its owners over expanding the business. As a current or prospective owner, that can be desirable. It's also worth mentioning that, since stocks paying dividends are likely not in the middle of a fast growth phase and are producing profit in excess of their capital needs, they are likely slower growth and lower risk as a class than companies without dividends. This puts them in a particular place on the risk/reward spectrum, so some investors may prefer dividend paying stocks because they match their risk profile.",
"title": ""
},
{
"docid": "a13a5183fa18ad97d0487ffeb6827fd9",
"text": "\"is it worth it? You state the average yield on a stock as 2-3%, but seem to have come up with this by looking at the yield of an S&P500 index. Not every stock in that index is paying a dividend and many of them that are paying have such a low yield that a dividend investor would not even consider them. Unless you plan to buy the index itself, you are distorting the possible income by averaging in all these \"\"duds\"\". You are also assuming your income is directly proportional to the amount of yield you could buy right now. But that's a false measure because you are talking about building up your investment by contributing $2k-$3k/month. No matter what asset you choose to invest in, it's going to take some time to build up to asset(s) producing $20k/year income at that rate. Investments today will have time in market to grow in multiple ways. Given you have some time, immediate yield is not what you should be measuring dividends, or other investments, on in my opinion. Income investors usually focus on YOC (Yield On Cost), a measure of income to be received this year based on the purchase price of the asset producing that income. If you do go with dividend investing AND your investments grow the dividends themselves on a regular basis, it's not unheard of for YOC to be north of 6% in 10 years. The same can be true of rental property given that rents can rise. Achieving that with dividends has alot to do with picking the right companies, but you've said you are not opposed to working hard to invest correctly, so I assume researching and teaching yourself how to lower the risk of picking the wrong companies isn't something you'd be opposed to. I know more about dividend growth investing than I do property investing, so I can only provide an example of a dividend growth entry strategy: Many dividend growth investors have goals of not entering a new position unless the current yield is over 3%, and only then when the company has a long, consistent, track record of growing EPS and dividends at a good rate, a low debt/cashflow ratio to reduce risk of dividend cuts, and a good moat to preserve competitiveness of the company relative to its peers. (Amongst many other possible measures.) They then buy only on dips, or downtrends, where the price causes a higher yield and lower than normal P/E at the same time that they have faith that they've valued the company correctly for a 3+ year, or longer, hold time. There are those who self-report that they've managed to build up a $20k+ dividend payment portfolio in less than 10 years. Check out Dividend Growth Investor's blog for an example. There's a whole world of Dividend Growth Investing strategies and writings out there and the commenters on his blog will lead to links for many of them. I want to point out that income is not just for those who are old. Some people planned, and have achieved, the ability to retire young purely because they've built up an income portfolio that covers their expenses. Assuming you want that, the question is whether stock assets that pay dividends is the type of investment process that resonates with you, or if something else fits you better. I believe the OP says they'd prefer long hold times, with few activities once the investment decisions are made, and isn't dissuaded by significant work to identify his investments. Both real estate and stocks fit the latter, but the subtypes of dividend growth stocks and hands-off property investing (which I assume means paying for a property manager) are a better fit for the former. In my opinion, the biggest additional factor differentiating these two is liquidity concerns. Post-tax stock accounts are going to be much easier to turn into emergency cash than a real estate portfolio. Whether that's an important factor depends on personal situation though.\"",
"title": ""
},
{
"docid": "5ae06451df0a095d66d02dd73776f07a",
"text": "\"Trading on specific ECNs is the easy part - you simply specify the order routing in advance. You are not buying or selling the *exact* same shares. Shares are fungible - so if I simultaneously buy one share and sell another share, my net share position is zero - even if those trades don't settle until T+3. PS \"\"The Nasdaq\"\" isn't really an exchange in the way that the CME, or other order-driven markets are. It's really just a venue to bring market makers together. It's almost like \"\"the internet,\"\" as in, when you buy something from Amazon, you're not buying it from \"\"the internet,\"\" but it was the internet that made your transaction with Amazon possible.\"",
"title": ""
},
{
"docid": "7dcda72e44ad0126ba5ec11ec96b37e3",
"text": "Check out the questions about why stock prices are what they are. In a nutshell, a stock's value is based on the future prospects of the company. Generally speaking, if a growth company is paying a dividend, that payment is going to negatively affect the growth of the business. The smart move is to re-invest that capital and make more money. As a shareholder, you are compensated by a rising stock price. When a stock isn't growing quickly, a dividend is a better way for a stockholder to realize value. If a gas and electric company makes a billion dollars, investing that money back into the company is not going to yield a large return. And since those types of companies don't really grow too much, the stocks typically trade in a range and don't see the type of appreciation that a growth stock will. So it makes sense to pay out the dividend to the shareholders.",
"title": ""
},
{
"docid": "f1d75ffbcf884babd71bbaa5d04df609",
"text": "Dividends yield and yield history are often neglected, but are very important factors that you should consider when looking at a stock for long-term investment. The more conservative portion of my portfolio is loaded up with dividend paying stocks/MLPs like that are yielding 6-11% income. In an environment when deposit and bond yields are so poor, they are a great way to earn reasonably safe income.",
"title": ""
},
{
"docid": "38bdbd4c2225ed3344f2d36eb24aa6d8",
"text": "You can use a tool like WikiInvest the advantage being it can pull data from most brokerages and you don't have to enter them manually. I do not know how well it handles dividends though.",
"title": ""
},
{
"docid": "5f217d3abc42166d1c23f9eb0259334e",
"text": "like any share, valuing facebook requires a projection of earnings and earnings growth to arrive at a present value for the right to share in these future earnings. there are economic arguments to be had for facebook to see either a negative or positive future long term net income growth. given the uncertainty we can establish a very rough baseline value by treating it as a perpetuity (zero growth) discounted at historical equity growth rate (8%) with some very simple math. An annual net income of 900 million discounted at 8 percent in perpetuity is worth 11.25 Billion. Now, take into account the fact that tech stocks trade at an inflated PE multiple of around 3 times that of a mature company in an established industry (PE x10-20 for average stocks and anywhere between x30-60+ for tech stocks), and I would expect the market cap for this perpetuity to be around 34 Billion. A market cap of 34 billion is a share value of around 15.5, which is the point where I would take up a long position with fair confidence. I do think that the share deserves a premium for potential income growth (despite the current and potential future revenue losses) simply due to the incredibly large user base and the potential to monetize this. Of course, it wasn't worth the 22 dollar premium that IPO buyers paid but its worth something. I think there is simply too much uncertainty for me to go long in the next 6 months unless it hits 15/share which may never happen. If the company can monetize mobile and show quarterly results in the next year I would consider a long position for anywhere from 15-20 a share.",
"title": ""
},
{
"docid": "ea063d3946d8ef4e5bcd5d26d2cf5a0f",
"text": "There are strategies based on yields. Dogs of the Dow being a specific example while Miller Howard has a few studies around dividends that may be of use if you additional material. Selling off a portion of the holding can run into problems as how could one hold 10 shares, selling a non-zero whole number every year for over 20 years if the stock doesn't ever pay a dividend in additional shares or cash?",
"title": ""
},
{
"docid": "51a19c3ec2b20ff8db1f6607bf091252",
"text": "I would say that the answer is yes. Investors may move on purchasing a stock as a result of news that a stock is set to pay out their dividend. It would be interesting to analyze the trend based on a company's dividend payouts over 10 or so years to see what/how this impacts the market value of a given company.",
"title": ""
},
{
"docid": "48616931c6365a9c59fde937b47b4dca",
"text": "At 19 years old you can and should be investing to see your money grow over the years. Reinvesting the dividends does get to be pretty significant because they compound over many years. Historically this dividend compounding accounts for about half of the total gains from stocks. At 70 years old I am not investing to see my money grow, although that's nice. I am investing to eat. I live on the dividends, and they tend to come in fairly reliably even as the market bounces up and down. For stocks selected with this in mind I get about 4% per year from the dividends.",
"title": ""
},
{
"docid": "7719ab87807175cd8603c49df9557578",
"text": "Not a bad strategy. However: If you REALLY want tax efficiency you can buy stocks that don't pay a dividend, usually growth stocks like FB, GOOGL, and others. This way you will never have to pay any dividend tax - all your tax will be paid when you retire at a theoretically lower tax rate (<--- really a grey tax area here). *Also, check out Robin Hood. They offer commission free stock trading.",
"title": ""
},
{
"docid": "184b63bf1790b8e69ca079b62aebdbb5",
"text": "Open an account with a US discount online broker, or with a European broker with access to the US market. I think ETRADE allow non-resident accounts, for instance, amongst others. The brokerage will be about $10, and there is no annual fee. (So you're ~1% down out of the gate, but that's not so much.) Brokers may have a minimum transaction value but very few exchanges care about the number of shares anymore, and there is no per-share fee. As lecrank notes, putting all your savings into a single company is not prudent, but having a flutter with fun money on Apple is harmless. Paul is correct that dividend cheques may be a slight problem for non-residents. Apple don't pay dividends so there's no problem in this specific case. More generally your broker will give you a cash account into which the dividends can go. You may have to deal with US tax which is more of an annoyance than a cost.",
"title": ""
},
{
"docid": "e9a4f8784feb1f2536be8d274bd0fe86",
"text": "Run your credit reports for the 3 major agencies to find out which of them have the debt was reported on and initiate the dispute process with each agency that reports the invalid debt. This will cause the person who put it on the report to either prove that it is valid or remove it from your report. Ignoring debt collector calls is not a good option, regardless of whether the debt is valid. They obviously think the debt is yours so their response is naturally to put it on your credit report. In most cases it is a good idea to respond in writing that it is not your debt. I doubt you have much recourse against the creditor. For one thing they DID try to contact you and you dodged them. That is not their fault. Secondly, it is unlikely you would prevail unless you could prove that they maliciously put false information on your credit or through gross incompetence did so. More likely is that they are mismatching you to a debt from someone with a similar name, or there is an accounting error somewhere. Or possibly you owe the debt and no one ever sent you a bill. It happens with medical bills all the time.",
"title": ""
}
] | fiqa |
4e7d05d33159ade25c35154d0e528c43 | How to accurately calculate Apple's EPS | [
{
"docid": "5c90ee4ba274fd55bd125b0bc0623285",
"text": "On closer look, it appears that Google Finance relies on the last released 10-k statement (filing date 10/30/2013), but outstanding shares as of last 10-Q statement. Using these forms, you get ($37,037M / 5.989B ) = $6.18 EPS. I think this is good to note, as you can manually calculate a more up to date EPS value than what the majority of investors out there are relying on.",
"title": ""
}
] | [
{
"docid": "a8ee07f460a8a1fe9480e40afe4f4815",
"text": "Profit after tax can have multiple interpretations, but a common one is the EPS (Earnings Per Share). This is frequently reported as a TTM number (Trailing Twelve Months), or in the UK as a fiscal year number. Coincidentally, it is relatively easy to find the total amount of dividends paid out in that same time frame. That means calculating div cover is as simple as: EPS divided by total dividend. (EPS / Div). It's relatively easy to build a Google Docs spreadsheet that pulls both values from the cloud using the GOOGLEFINANCE() function. I suspect the same is true of most spreadsheet apps. With a proper setup, you can just fill down along a column of tickers to get the div cover for a number of companies at once.",
"title": ""
},
{
"docid": "3d9a087db7ac36a435de1783db63916d",
"text": "\"What you are seeking is termed \"\"Alpha\"\", the mispricing in the market. Specifically, Alpha is the price error when compared to the market return and beta of the stock. Modern portfolio theory suggests that a portfolio with good Alpha will maximize profits for a given risk tolerance. The efficient market hypotheses suggests that Alpha is always zero. The EMH also suggests that taxes, human effort and information propagation delays don't exist (i.e. it is wrong). For someone who is right, the best specific answer to your question is presented Ben Graham's book \"\"The Intelligent Investor\"\" (starting on page 280). And even still, that book is better summarized by Warren Buffet (see Berkshire Hathaway Letters to Shareholders). In a great disservice to the geniuses above it can be summarized much further: closely follow the company to estimate its true earnings potential... and ignore the prices the market is quoting. ADDENDUM: And when you have earnings potential, calculate value with: NPV = sum(each income piece/(1+cost of capital)^time) Update: See http://finance.fortune.cnn.com/2014/02/24/warren-buffett-berkshire-letter/ \"\"When Charlie Munger and I buy stocks...\"\" for these same ideas right from the horse's mouth\"",
"title": ""
},
{
"docid": "237d225e0da24ae0ac9d26ba666568d8",
"text": "i will not calculate it for you but just calculate the discounted cash flow (by dividing with 1.1 / 1.1^2 / 1.1^3 ...)of each single exercise as stated and deduct the 12.000 of the above sum. in the end compare which has the highest npv",
"title": ""
},
{
"docid": "0f3adf4b5a6d10cd96ff4f1b65cca73f",
"text": "P/E can use various estimates in its calculation as one could speculate about future P/E rations and thus could determine a future valuation if one is prepared to say that the P/E should be X for a company. Course it is worth noting that if a company isn't generating positive earnings this can be a less than useful tool, e.g. Amazon in the 1990s lost money every quarter and thus would have had a N/A for a P/E. PEG would use P/E and earnings growth as a way to see if a stock is overvalued based on projected growth. If a company has a high P/E but has a high earnings growth rate then that may prove to be worth it. By using the growth rate, one can get a better idea of the context to that figure. Another way to gain context on P/E would be to look at industry averages that would often be found on Yahoo! Finance and other sites.",
"title": ""
},
{
"docid": "0b2b5a994cca7939cf4143da8b2514a0",
"text": "\"I had both closing price and adjusted price of Apple showing the same amount after \"\"download data\"\" csv file was opened in excel. https://finance.yahoo.com/quote/AAPL/history?period1=1463599361&period2=1495135361&interval=div%7Csplit&filter=split&frequency=1d Its frustrating. My last option was to get the dividends history of the stock and add back to the adjusted price to compute the total return for a select stock for the period.\"",
"title": ""
},
{
"docid": "511fd9fcdff5d9b942b80d3da0ec8b73",
"text": "\"To add to @keshlam's answer slightly a stock's price is made up of several components: the only one of these that is known even remotely accurately at any time is the book value on the day that the accounts are prepared. Even completed cashflows after the books have been prepared contain some slight unknowns as they may be reversed if stock is returned, for example, or reduced by unforeseen costs. Future cashflows are based on (amongst other things) how many sales you expect to make in the future for all time. Exercise for the reader: how many iPhone 22s will apple sell in 2029? Even known future cashflows have some risk attached to them; customers may not pay for goods, a supplier may go into liquidation and so need to change its invoicing strategy etc.. Estimating the risk on future cashflows is highly subjective and depends greatly on what the analyst expects the exact economic state of the world will be in the future. Investors have the choice of investing in a risk free instrument (this is usually taken as being modelled by the 10 year US treasury bond) that is guaranteed to give them a return. To invest in anything riskier than the risk free instrument they must be paid a premium over the risk free return that they would get from that. The risk premium is related to how likely they think it is that they will not receive a return higher than that rate. Calculation of that premium is highly subjective; if I know the management of the company well I will be inclined to think that the investment is far less risky (or perhaps riskier...) than someone who does not, for example. Since none of the factors that go into a share price are accurately measurable and many are subjective there is no \"\"right\"\" share price at any time, let alone at time of IPO. Each investor will estimate these values differently and so value the shares differently and their trading, based on their ever changing estimates, will move the share price to an indeterminable level. In comments to @keshlam's answer you ask if there is enough information to work out the share price if a company buys out the company before IPO. Dividing the price that this other company paid by the relative ownership structure of the firm would give you an idea of what that company thought that the company was worth at that moment in time and can be used as a surrogate for market price but it will not and cannot accurately represent the market price as other investors will value the firm differently by estimating the criteria above differently and so will move the share price based on their valuation.\"",
"title": ""
},
{
"docid": "9ffa2801a53684aa4778439927170236",
"text": "As others have pointed out, the value of Apple's stock and the NASDAQ are most likely highly correlated for a number of reasons, not least among them the fact that Apple is part of the NASDAQ. However, because numerous factors affect the entire market, or at least a significant subset of it, it makes sense to develop a strategy to remove all of these factors without resorting to use of an index. Using an index to remove the effect of these factors might be a good idea, but you run the risk of potentially introducing other factors that affect the index, but not Apple. I don't know what those would be, but it's a valid theoretical concern. In your question, you said you wanted to subtract them from each other, and only see an Apple curve moving around a horizontal line. The basic strategy I plan to use is similar but even simpler. Instead of graphing Apple's stock price, we can plot the difference between its stock price on business day t and business day t-1, which gives us this graph, which is essentially what you're looking for: While this is only the preliminaries, it should give you a basic idea of one procedure that's used extensively to do just what you're asking. I don't know of a website that will automatically give you such a metric, but you could download the price data and use Excel, Stata, etc. to analyze this. The reasoning behind this methodology builds heavily on time series econometrics, which for the sake of simplicity I won't go into in great detail, but I'll provide a brief explanation to satisfy the curious. In simple econometrics, most time series are approximated by a mathematical process comprised of several components: In the simplest case, the equations for a time series containing one or more of the above components are of the form that taking the first difference (the procedure I used above) will leave only the random component. However, if you want to pursue this rigorously, you would first perform a set of tests to determine if these components exist and if differencing is the best procedure to remove those that are present. Once you've reduced the series to its random component, you can use that component to examine how the process underlying the stock price has changed over the years. In my example, I highlighted Steve Jobs' death on the chart because it's one factor that may have led to the increased standard deviation/volatility of Apple's stock price. Although charts are somewhat subjective, it appears that the volatility was already increasing before his death, which could reflect other factors or the increasing expectation that he wouldn't be running the company in the near future, for whatever reason. My discussion of time series decomposition and the definitions of various components relies heavily on Walter Ender's text Applied Econometric Time Series. If you're interested, simple mathematical representations and a few relevant graphs are found on pages 1-3. Another related procedure would be to take the logarithm of the quotient of the current day's price and the previous day's price. In Apple's case, doing so yields this graph: This reduces the overall magnitude of the values and allows you to see potential outliers more clearly. This produces a similar effect to the difference taken above because the log of a quotient is the same as the difference of the logs The significant drop depicted during the year 2000 occurred between September 28th and September 29th, where the stock price dropped from 26.36 to 12.69. Apart from the general environment of the dot-com bubble bursting, I'm not sure why this occurred. Another excellent resource for time series econometrics is James Hamilton's book, Time Series Analysis. It's considered a classic in the field of econometrics, although similar to Enders' book, it's fairly advanced for most investors. I used Stata to generate the graphs above with data from Yahoo! Finance: There are a couple of nuances in this code related to how I defined the time series and the presence of weekends, but they don't affect the overall concept. For a robust analysis, I would make a few quick tweaks that would make the graphs less appealing without more work, but would allow for more accurate econometrics.",
"title": ""
},
{
"docid": "28b4a52c78c6630c2d2de10107e6b9eb",
"text": "I'm not sure i understand the strategy of going upmarket so fast. If this is right it will be a 25% increase which is a lot. Apple isn't hurting for profits and most of their growth is in services, which depend on a large install base. Premium is fine, but going luxury seems counter-productive.",
"title": ""
},
{
"docid": "6d710ce4d7a4275036f7b4a3cce5a07e",
"text": "\"The best place to start looking is the companies \"\"Balance Sheet\"\" (B/S). This would show you the total shares \"\"outstanding.\"\" The quarterly B/S's arent audited but a good starting point. To use in any quant method, You also need to look a growth the outstanding shares number. Company can issue shares to any employee without making a filing. Also, YOU will NEVER know exactly the total number because of stock options that are issued to employees that are out of the money arent account for. Some companies account for these, some dont. You should also explore the concepts of \"\"fully dilute\"\" shares and \"\"basis\"\" shares. These concepts will throw-off your calc if the company has convertible bonds.\"",
"title": ""
},
{
"docid": "f23b2797867eb8b76bf95504624c9fbc",
"text": "\"A Bloomberg terminal connected to Excel provides the value correcting splits, dividends, etc. Problem is it cost around $25,000. Another one which is free and I think that takes care of corporate action is \"\"quandl.com\"\". See an example here.\"",
"title": ""
},
{
"docid": "550a87849ede22f46d68fc8a9722b6d3",
"text": "\"You asked 3 questions here. It's best to keep them separate as these are pretty distinct, different answers, and each might already have a good detailed answer and so might be subject to \"\"closed as duplicate of...\"\" That said, I'll address the JAGLX question (1). It's not an apples to apples comparison. This is a Life Sciences fund, i.e. a very specialized fund, investing in one narrow sector of the market. If you study market returns over time, it's easy to find sectors that have had a decade or even two that have beat the S&P by a wide margin. The 5 year comparison makes this pretty clear. For sake of comparison, Apple had twice the return of JAGLX during the past 5 years. The advisor charging 2% who was heavy in Apple might look brilliant, but the returns are not positively correlated to the expense involved. A 10 or 20 year lookback will always uncover funds or individual stocks that beat the indexes, but the law of averages suggests that the next 10 or 20 years will still appear random.\"",
"title": ""
},
{
"docid": "f4ea07c1d545d71f26856ad9d46c4ed8",
"text": "Outside of software that can calculate the returns: You could calculate your possible returns on that leap spread as you ordinarily would, then place the return results of that and the return results for the covered call position side by side for any given price level of the stock you calculate, and net them out. (Netting out the dollar amounts, not percentage returns.) Not a great answer, but there ya go. Software like OptionVue is expensive",
"title": ""
},
{
"docid": "420682ca10f90e896ec85db9f666cf3a",
"text": "Not quite. The EPS is noted as ttm, which means trailing twelve months --- so the earnings are taken from known values over the previous year. The number you quote as the dividend is actually the Forward Annual Dividend Rate, which is an estimate of the future year's dividends. This means that PFE is paying out more in the coming year (per share) than it made in the previous year (per share).",
"title": ""
},
{
"docid": "07a921214f64cac481e46f2455f46acd",
"text": "It is a good enough approximation. With a single event you can do it your way and get a better result, but imagine that the $300 are spread over a certain period with $10 contribution each time? Then recalculating and compounding will be a lot of work to do. The original ROI formula is averaging the ROI by definition, so why bother with precise calculations of averages that are imprecise by definition, when you can just adjust the average without losing the level of precision? 11.4 and 11.3 aren't significantly different, its immaterial.",
"title": ""
},
{
"docid": "fba69109c372ce3a7f882968dd7b3e36",
"text": "Note that your link shows the shares as of March 31, 2016 while http://uniselect.com/content/files/Press-release/Press-Release-Q1-2016-Final.pdf notes a 2-for-1 stock split so thus you have to double the shares to get the proper number is what you are missing. The stock split occurred in May and thus is after the deadline that you quoted.",
"title": ""
}
] | fiqa |
1c7e23f6d0e0d57a45970527a295ea6c | What does a stock's quoted value represent? | [
{
"docid": "c7535e5502f2a8a75b954fa6f43db34c",
"text": "The quote price is simply the last price at which a trade completed.",
"title": ""
},
{
"docid": "db78f886e9fdbd139bb2a17690ff40ec",
"text": "Price for the latest transaction. If the stock is selling for $898.7 means that the stock is currently trading for $898.7, and it will be your ask price of stock if you purchase currently.",
"title": ""
},
{
"docid": "9a0db602af711368a0219b1c7845726c",
"text": "\"Stock price is set to the price with the highest transaction volume at any given time. The stock price you cited was only valid in the last transaction on a specific stock exchange. As such it is more of an \"\"historic\"\" value. Next trade will be done with the next biggest volume. Depending on the incoming bids and asks this could be higher or lower, but you can assume it will not be too far off if there is no crash underway. Simple example stock exchange:\"",
"title": ""
}
] | [
{
"docid": "26add6882c3b0f92d535fd869f8d55ee",
"text": "\"Market caps is just the share price, multiplied by the number of shares. It doesn't represent any value (if people decide to pay more or less for the shares, the market cap goes up or down). It does represent what people think the company is worth. NAV sounds very much like book value. It basically says \"\"how much cash would we end up with if we sold everything the company owns, paid back all the debt, and closed down the business? \"\" Since closing down the business is rarely a good idea, this underestimates the value of the business enormously. Take a hairdresser who owns nothing but a pair of scissors, but has a huge number of repeat customers, charges $200 for a haircut, and makes tons of money every year. The business has a huge value, but NAV = price of one pair of used scissors.\"",
"title": ""
},
{
"docid": "c214d560ed54ea4495c8526b2894adf6",
"text": "The worth of a share of stocks may be defined as the present cash value of all future dividends and liquidations associated therewith. Without a crystal ball, such worth may generally only be determined retrospectively, but even though it's generally not possible to know the precise worth of a stock in time for such information to be useful, it has a level of worth which is absolute and not--unlikely market price--is generally unaffected by people buying and selling the stock (except insofar as activities in company stock affect a company's ability to do business). If a particular share of stock is worth $10 by the above measure, but Joe sells it to Larry for $8, that means Joe gives Larry $2. If Larry sells it to Fred $12, Fred gives Larry $2. The only way Fred can come out ahead is if he finds someone else to give him $2 or more. If Fred can sell it to Adam for $13, then Adam will give Fred $3, leaving Fred $1 better off than he would be if he hadn't bought the stock, but Adam will be $3 worse off. The key point is that if you sell something for less than it's worth, or buy something for more that it's worth, you give money away. You might be able to convince other people to give you money in the same way you gave someone else money, but fundamentally the money has been given away, and it's not coming back.",
"title": ""
},
{
"docid": "c13c73a337f0b416dd0e626ae4d9b7cf",
"text": "To be fair, the analyst is talking about the book value of the firm. Basically, the value of all the stuff it owns now. There are plenty of companies with negative book value that can justify a positive share price. Ford, for instance, had negative book value but positive future earnings.",
"title": ""
},
{
"docid": "980f83b9957fd05caa022968bff806c0",
"text": "Large-scale price range of a stock isn't directly meaningful; that reflects how many shares exist, not just how desirable they are. A stock split, for example, doubles the number of shares everyone holds while cutting the value of each share in half; that's meaningless except that it makes the shares a bit easier to trade in. Change in price is more interesting. In the case of energy companies, that often reflects major changes in energy supply, distribution, use, or how well positioned people feel the company is for the next change in these. Fracking's surge and the questions raised against it, whether a major pipeline will or won't be built, international energy price trends, breakthroughs in renewables... if it might affect energy price, it might affect the company's strength, both absolute and relative to others. In other words, the same kinds of things that affect any stock.",
"title": ""
},
{
"docid": "7aa54db9a4904567ac7fe6bc6c909344",
"text": "\"You could not have two stocks both at $40, both with P/E 2, but one an EPS of $5 and the other $10. EPS = Earnings Per Share P/E = Price per share/Earnings Per Share So, in your example, the stock with EPS of $5 has a P/E of 8, and the stock with an EPS of $10 has a P/E of 4. So no, it's not valid way of looking at things, because your understanding of EPS and P/E is incorrect. Update: Ok, with that fixed, I think I understand your question better. This isn't a valid way of looking at P/E. You nailed one problem yourself at the end of the post: The tricky part is that you have to assume certain values remain constant, I suppose But besides that, it still doesn't work. It seems to make sense in the context of investor psychology: if a stock is \"\"supposed to\"\" trade at a low P/E, like a utility, that it would stay at that low P/E, and thus a $1 worth of EPS increase would result in lower $$ price increase than a stock that was \"\"supposed to\"\" have a high P/E. And that would be true. But let's game it out: Scenario Say you have two stocks, ABC and XYZ. Both have $5 EPS. ABC is a utility, so it has a low P/E of 5, and thus trades at $25/share. XYZ is a high flying tech company, so it has a P/E of 10, thus trading at $50/share. If both companies increase their EPS by $1, to $6, and the P/Es remain the same, that means company ABC rises to $30, and company XYZ rises to $60. Hey! One went up $5, and the other $10, twice as much! That means XYZ was the better investment, right? Nope. You see, shares are not tokens, and you don't get an identical, arbitrary number of them. You make an investment, and that's in dollars. So, say you'd invested $1,000 in each. $1,000 in ABC buys you 40 shares. $1,000 in XYZ buys you 20 shares. Their EPS adds that buck, the shares rise to maintain P/E, and you have: ABC: $6 EPS at P/E 5 = $30/share. Position value = 40 shares x $30/share = $1,200 XYZ: $6 EPS at P/E 10 = $60/share. Position value = 20 shares x $60/share = $1,200 They both make you the exact same 20% profit. It makes sense when you think about it this way: a 20% increase in EPS is going to give you a 20% increase in price if the P/E is to remain constant. It doesn't matter what the dollar amount of the EPS or the share price is.\"",
"title": ""
},
{
"docid": "7b1d34a28244399603752ef694591459",
"text": "\"The value of a stock ultimately is related to the valuation of a corporation. As part of the valuation, you can estimate the cash flows (discounted to present time) of the expected cash flows from owning a share. This stock value is the so-called \"\"fundamental\"\" value of a stock. What you are really asking is, how is the stock's market price and the fundamental value related? And by asking this, you have implicitly assumed they are not the same. The reason that the fundamental value and market price can diverge is that simply, most shareholders will not continue holding the stock for the lifespan of a company (indeed some companies have been around for centuries). This means that without dividends or buybacks or liquidations or mergers/acquisitions, a typical shareholder cannot reasonably expect to recoup their share of the company's equity. In this case, the chief price driver is the aggregate expectation of buyers and sellers in the marketplace, not fundamental evaluation of the company's balance sheet. Now obviously some expectations are based on fundamentals and expert opinions can differ, but even when all the experts agree roughly on the numbers, it may be that the market price is quite a ways away from their estimates. An interesting example is given in this survey of behavioral finance. It concerns Palm, a wholly-owned subsidiary of 3Com. When Palm went public, its shares went for such a high price, they were significantly higher than 3Com's shares. This mispricing persisted for several weeks. Note that this facet of pricing is often given short shrift in standard explanations of the stock market. It seems despite decades of academic research (and Nobel prizes being handed out to behavioral economists), the knowledge has been slow to trickle down to laymen, although any observant person will realize something is amiss with the standard explanations. For example, before 2012, the last time Apple paid out dividends was 1995. Are we really to believe that people were pumping up Apple's stock price from 1995 to 2012 because they were waiting for dividends, or hoping for a merger or liquidation? It doesn't seem plausible to me, especially since after Apple announced dividends that year, Apple stock ended up taking a deep dive, despite Wall Street analysts stating the company was doing better than ever. That the stock price reflects expectations of the future cash flows from the stock is a thinly-disguised form of the Efficient Market Hypothesis (EMH), and there's a lot of evidence contrary to the EMH (see references in the previously-linked survey). If you believe what happened in Apple's case was just a rational re-evaluation of Apple stock, then I think you must be a hard-core EMH advocate. Basically (and this is elaborated at length in the survey above), fundamentals and market pricing can become decoupled. This is because there are frictions in the marketplace making it difficult for people to take advantage of the mispricing. In some cases, this can go on for extended periods of time, possibly even years. Part of the friction is caused by strong beliefs by market participants which can often shift pressure to supply or demand. Two popular sayings on Wall Street are, \"\"It doesn't matter if you're right. You have to be right at the right time.\"\" and \"\"It doesn't matter if you're right, if the market disagrees with you.\"\" They suggest that you can make the right decision with where to put your money, but being \"\"right\"\" isn't what drives prices. The market does what it does, and it's subject to the whims of its participants.\"",
"title": ""
},
{
"docid": "955455502d9a711735c3029de66b96ca",
"text": "The intrinsic value of a company is based on their profits year on year along with their expect future growth. A company may be posting losses, but if the market determines there's any chance they will turn a profit one day, or be a takeover target, it assigns value to those shares. In normal times, you'll observe a certain P/E range. Price to earning ratio is a simple way to say the I will pay X$ for a dollar's worth of earnings. A company that's in a flat market and not growing may command a P/E of only 10. Another company that's expanding their products and increasing market share may see a 20 P/E. Both P/Es are right for the type of company involved.",
"title": ""
},
{
"docid": "3d718680b0cd151f64d4cb4d777842e0",
"text": "\"Oh, I understand now -- we're having an absurd, meaningless conversation about an obscure theoretical point. When you can tell me how you can determine a \"\"minimum cash\"\" level from a public company's filings, we can continue the discussion. Otherwise, make a simplifying assumption and move on. I misunderstood -- I thought we were actually trying to understand the difference between enterprise value and equity value / understand the implication of an enterprise value multiple.\"",
"title": ""
},
{
"docid": "8399543fe9b611cc89a88cecf78f9c74",
"text": "It's been awhile since my last finance course, so school me here: What is the market cap of a company actually supposed to represent? I get that it's the stock price X the # of shares, but what is that actually representing? Revenues? PV of all future revenues? PV of future cash flows? In any case, good write up. Valuation of tech stocks is quite the gambit, and you've done a good job of dissecting it for a layman.",
"title": ""
},
{
"docid": "31ddc4ebffed415c057593a0a676c33a",
"text": "Nobody tracks a single company's net assets on a daily basis, and stock prices are almost never derived directly from their assets (otherwise there would be no concept of 'growth stocks'). Stocks trade on the presumed current value of future positive cash flow, not on the value of their assets alone. Funds are totally different. They own nothing but stocks and are valued on the basis on the value of those stocks. (Commodity funds and closed funds muddy the picture somewhat, but basically a fund's only business is owning very liquid assets, not using their assets to produce wealth the way companies do.) A fund has no meaning other than the direct value of its assets. Even companies which own and exploit large assets, like resource companies, are far more complicated than funds: e.g. gold mining or oil extracting companies derive most of their value from their physical holdings, but those holdings value depends on the moving price and assumed future price of the commodity and also on the operations (efficiency of extraction etc.) Still different from a fund which only owns very liquid assets.",
"title": ""
},
{
"docid": "f535a0d7cc0538b79c889db8e26ef801",
"text": "Stock price = Earning per share * P/E Ratio. Most of the time you will see in a listing the Stock price and the P/E ration. The calculation of the EPS is left as an exercise for the student Investor.",
"title": ""
},
{
"docid": "0c6d9c87fc60a8c5f72ee0140b593d35",
"text": "\"A stock, at its most basic, is worth exactly what someone else will pay to buy it right now (or in the near future), just like anything else of value. However, what someone's willing to pay for it is typically based on what the person can get from it. There are a couple of ways to value a stock. The first way is on expected earnings per share, most of would normally (but not always) be paid in dividends. This is a metric that can be calculated based on the most recently reported earnings, and can be estimated based on news about the company or the industry its in (or those of suppliers, likely buyers, etc) to predict future earnings. Let's say the stock price is exactly $100 right now, and you buy one share. In one quarter, the company is expected to pay out $2 per share in dividends. That is a 2% ROI realized in 3 months. If you took that $2 and blew it on... coffee, maybe, or you stuffed it in your mattress, you'd realize a total gain of $8 in one year, or in ROI terms an annual rate of 8%. However, if you reinvested the money, you'd be making money on that money, and would have a little more. You can calculate the exact percentage using the \"\"future value\"\" formula. Conversely, if you wanted to know what you should pay, given this level of earnings per share, to realize a given rate of return, you can use the \"\"present value\"\" formula. If you wanted a 9% return on your money, you'd pay less for the stock than its current value, all other things being equal. Vice-versa if you were happy with a lesser rate of return. The current rate of return based on stock price and current earnings is what the market as a whole is willing to tolerate. This is how bonds are valued, based on a desired rate of return by the market, and it also works for stocks, with the caveat that the dividends, and what you'll get back at the \"\"end\"\", are no longer constant as they are with a bond. Now, in your case, the company doesn't pay dividends. Ever. It simply retains all the earnings it's ever made, reinvesting them into doing new things or more things. By the above method, the rate of return from dividends alone is zero, and so the future value of your investment is whatever you paid for it. People don't like it when the best case for their money is that it just sits there. However, there's another way to think of the stock's value, which is it's more core definition; a share of the company itself. If the company is profitable, and keeps all this profit, then a share of the company equals, in part, a share of that retained earnings. This is very simplistic, but if the company's assets are worth 1 billion dollars, and it has one hundred million shares of stock, each share of stock is worth $10, because that's the value of that fraction of the company as divided up among all outstanding shares. If the company then reports earnings of $100 million, the value of the company is now 1.1 billion, and its stock should go up to $11 per share, because that's the new value of one ten-millionth of the company's value. Your ROI on this stock is $1, in whatever time period the reporting happens (typically quarterly, giving this stock a roughly 4% APY). This is a totally valid way to value stocks and to shop for them; it's very similar to how commodities, for instance gold, are bought and sold. Gold never pays you dividends. Doesn't give you voting rights either. Its value at any given time is solely what someone else will pay to have it. That's just fine with a lot of people right now; gold's currently trading at around $1,700 an ounce, and it's been the biggest moneymaker in our economy since the bottom fell out of the housing market (if you'd bought gold in 2008, you would have more than doubled your money in 4 years; I challenge you to find anything else that's done nearly as well over the same time). In reality, a combination of both of these valuation methods are used to value stocks. If a stock pays dividends, then each person gets money now, but because there's less retained earnings and thus less change in the total asset value of the company, the actual share price doesn't move (much). If a stock doesn't pay dividends, then people only get money when they cash out the actual stock, but if the company is profitable (Apple, BH, etc) then one share should grow in value as the value of that small fraction of the company continues to grow. Both of these are sources of ROI, and both are seen in a company that will both retain some earnings and pay out dividends on the rest.\"",
"title": ""
},
{
"docid": "c41e61f063420043ec5dd6378082c882",
"text": "\"As I understand it, Implied Volatility represents the expected gyrations of an options contract over it's lifetime. No, it represents that expected movement of the underlying stock, not the option itself. Yes, the value of the option will move roughly in the same direction the value of the stock, but that's not what IV is measuring. I even tried staring at the math behind the Options pricing model to see if that could make more sense for me but that didn't help. That formula is correct for the Black-Scholes model - and it is not possible (or at least no one has done it yet) to solve for s to create a closed-form equation for implied volatility. What most systems do to calculate implied volatility is plug in different values of s (standard deviation) until a value for the option is found that matches the quoted market value ($12.00 in this example). That's why it's called \"\"implied\"\" volatility - the value is implied from market prices, not calculated directly. The thing that sticks out to me is that the \"\"last\"\" quoted price of $12 is outside of the bid-ask spread of $9.20 to $10.40, which tells me that the underlying stock has dropped significantly since the last actual trade. If the Implied Vol is calculated based on the last executed trade, then whatever algorithm they used to solve for a volatility that match that price couldn't find a solution, which then choose to show as a 0% volatility. In reality, the volatility is somewhere between the two neighbors of 56% and 97%, but with such a short time until expiry, there should be very little chance of the stock dropping below $27.50, and the value of the option should be somewhere around its intrinsic value (strike - stock price) of $9.18.\"",
"title": ""
},
{
"docid": "9fbd83b14d7050adbbcb96175a40962c",
"text": "Thanks to this youtube video I think I understood the required calculation. Based on following notation: then the formula to find x is: I found afterwards an example on IB site (click on the link 'How to Determine the Last Stock Price Before We Begin to Liquidate the Position') that corroborate the formula above.",
"title": ""
},
{
"docid": "c1140caa8335ae427e6326430838e159",
"text": "\"Market cap is synonymous with equity value, which is one way of thinking of a company's \"\"worth.\"\" The alternative would be enterprise value, which is calculated as follows: Enterprise Value = Market Value of Equity + Market Value of Debt - Cash and Equivalents - Non-Operating Assets Enterprise value is essentially \"\"how much is the firm worth to ALL providers of capital.\"\" It can be viewed as \"\"if I wanted to buy the *entire* company, debt and all, what would I have to pay?\"\"\"",
"title": ""
}
] | fiqa |
ba087c5f648f22e25e024b30562b3fe3 | give free budgeting advice | [
{
"docid": "e33025156ccff105618c180e01c176c4",
"text": "They've asked you, so your advice is welcome. That's your main concern, really. I'd also ask them how much, and what kind of advice. Do they want you to point them to good websites? On what subjects? Or do they want more personal advice and have you to look over their bank accounts and credit card statements, provide accountability, etc.? Treat them the same way you'd want to be treated if you asked for help on something that you were weak on.",
"title": ""
},
{
"docid": "a8a360a48db46630fb2e66038158a69f",
"text": "The counsel of a friend doesn't come with a legal or professional liability. The key to doing this sort of thing successfully is to respect boundaries. You are providing advice and discussion, not taking over your friend's life.",
"title": ""
},
{
"docid": "39fac01405b61176cd3e961c7a2eb120",
"text": "\"Legally ok? Sure. Friends frequently discuss financial matters, and share advice. This is quite far from taking money from them and managing it, where at some point you need to be licensed for such things. If you're concerned about giving bad advice, just stay generic. The best advice has no risk. If I offer a friend a stock tip, of course there's the chance the stock goes south, but when I tell a friend who asks about the difference between Mutual Funds and ETFs, and we discuss the expenses each might have, I'm still leaving the decision as to which ETF to him. When I offer the 'fortune cookie' soundbites like \"\"If you are going to make a large purchase, delay it a week for each $100 of value. e.g. if you really want a $1000 TV, sleep on it for a few months\"\" no one can mis-apply this. I like those two sites you mentioned, but the one-on-one is good for the friend and for you. You can always learn more, and teaching helps you hone your skills.\"",
"title": ""
}
] | [
{
"docid": "853f1ab64894dc0649111e6afc7bcd20",
"text": "\"There is no free lunch. \"\"Free\"\" can cost you a small fortune over time. If you wish to sit through a free pitch you may as well go to a time share seminar. Just keep your hands in your pocket and don't sign anything. In the end, you will be best served spending the time it will take to learn to manage your own money. Short term, spend a few hundred dollars and find a fee only planner who will give you general advice. My disdain for the \"\"bank guy\"\" goes back to an overheard conversation. An older woman, in her 70s was asking about investing in T-bills vs the bank CD. T-bills were a bit higher yield at the time. The banker stated that the CD was FDIC insured,but T-bills were not. This was decades ago, but I remember it as if it were yesterday.\"",
"title": ""
},
{
"docid": "8319b30fa80b9c804b0c17df20ff7559",
"text": "I hate to sound harsh, but he's right. No technology, innovation, service or product can overcome your own lack of discipline. That doesn't mean you should give up, though - just like everything else, financial discipline is a learned skill, not something we're born with. Everyone can learn to be financially responsible. If you find you can't keep track of your expenses, try merely saving your receipts. Whenever you get home, pull them all out of your pockets, and look over how much you spent. Once you get to the point where you're consistently keeping your receipts, start keeping a register (either paper or electronic) that you update when you empty your pockets. From there, you can begin tracking how much you spend in various categories, and being setting budgets and adjusting your spending habits. It's not easy, but it's something that we all have gone through. Keep at it, and you can succeed in turning your finances around.",
"title": ""
},
{
"docid": "16e3a08b056b997d41b9c57d6840c168",
"text": "I am confused as to why the author thinks people wouldn't do this. If target wants to hand out free money they can be my guest. edit: Target, PM me if you're interested in this sort of arrangement.",
"title": ""
},
{
"docid": "810435c5809639511389c5fc99eb133e",
"text": "\"While Googling answers for a similar personal dilemma I found Mvelopes. I already have a budget but was looking for a digital way for my husband and I to track our purchases so we know when we've \"\"used the envelope\"\". It's a free app.\"",
"title": ""
},
{
"docid": "c6fa632a4fe912a3d78b7a6592e82079",
"text": "\"I wrote a little program one time to try to do this. I think I wrote it in Python or something. The idea was to have a list of \"\"projected expenses\"\" where each one would have things like the amount, the date of the next transaction, the frequency of the transaction, and so on. The program would then simulate time, determining when the next transaction would be, updating balances, and so on. You can actually do a very similar thing with a spreadsheet where you basically have a list of expenses that you manually paste in for each month in advance. Simply keep a running balance of each row, and make sure you don't forget any transactions that should be happening. This works great for fixed expenses, or expenses that you know how much they are going to be for the next month. If you don't know, you can estimate, for instance you can make an educated guess at how much your electric bill will be the next month (if you haven't gotten the bill yet) and you can estimate how much you will spend on fuel based on reviewing previous months and some idea of whether your usage will differ in the next month. For variable expenses I would always err on the side of a larger amount than I expected to spend. It isn't going to be possible to budget to the exact penny unless you lead a very simple life, but the extra you allocate is important to cushion unexpected and unavoidable overruns. Once you have this done for expenses against your bank account, you can see what your \"\"low water mark\"\" is for the month, or whatever time period you project out to. If this is above your minimum, then you can see how much you can safely allocate to, e.g. paying off debt. Throwing a credit card into the mix can make things a bit more predictable in the current month, especially for unpredictable amounts, but it is a bit more complicated as now you have a second account that you have to track that has to get deducted from your first account when it becomes due in the following month. I am assuming a typical card where you have something like a 25 day grace period to pay without interest along with up to 30 days after the expense before the grace period starts, depending on the relationship between your cut-off date and when the actual expense occurs.\"",
"title": ""
},
{
"docid": "a3cb261d0561cda92eabd6e103677895",
"text": "I use Banktivity. It's very much not free, but it automatically downloads all my bank and credit card activity and has excellent reporting options.",
"title": ""
},
{
"docid": "9b8834fbccc5971800907f56b7c5afdd",
"text": "Sure, Yahoo Finance does this for FREE.",
"title": ""
},
{
"docid": "2fc79b65310eb6cba590a08089bf4016",
"text": "Try the Envelope Budgeting System. It is a pretty good system for managing your discretionary outflows. Also, be sure to pay yourself first. That means treat savings like an expense (mortgage, utilities, etc.) not an account you put money in when you have some left over. The problem is you NEVER seem to have anything leftover because most people's lifestyle adjusts to fit their income. The best way to do this is have the money automatically drafted each month without any action required on your part. An employer sponsored 401K is a great way to do this.",
"title": ""
},
{
"docid": "2da9c6cb77c6d43459a25ff16f45edfb",
"text": "I'll chime in and say that my wife and I thought this was a really dumb idea, until we tried it. I was keeping track of everything in my checkbook ledger, but having the physical money in the envelopes really does work! We thought it would be more hassle than it's worth, and there were hiccups the first month or two, but in the end we both agree this is what started our movement towards responsible money management and debt reduction. We have the following Categories: Obviously, ymmv, but the point is to take any categories in your budget that are hard to budget for, as they vary from month to month, and just set aside an amount form your paycheck, in cash, for each one of those categories in an envelope. What I've noticed is that by putting the money aside up front, it's MUCH easier to stick to the budget. We'll often shuffle money around in the envelopes if priorities change for a particular month as well, so rather than taking money away from an extra payment on a debt or our planned savings transfer, which would have been our default action pre-envelopes, we can just move $XX from Date Night into Groceries if we have to, hence, planning out how we'll spend our money, budgeting, has gotten a LOT easier since adopting this system.",
"title": ""
},
{
"docid": "a816d89279fc582023e15c450eb92628",
"text": "\"There's plenty of advice out there about how to set up a budget or track your expenses or \"\"pay yourself first\"\". This is all great advice but sometimes the hardest part is just getting in the right frugal mindset. Here's a couple tricks on how I did it. Put yourself through a \"\"budget fire drill\"\" If you've never set a budget for yourself, you don't necessarily need to do that here... just live as though you had lost your job and savings through some imaginary catastrophe and live on the bare minimum for at least a month. Treat every dollar as though you only had a few left. Clip coupons, stop dining out, eat rice and beans, bike or car pool to work... whatever means possible to cut costs. If you're really into it, you can cancel your cable/Netflix/wine of the month bills and see how much you really miss them. This exercise will get you used to resisting impulse buys and train you to live through an actual financial disaster. There's also a bit of a game element here in that you can shoot for a \"\"high score\"\"... the difference between the monthly expenditures for your fire drill and the previous month. Understand the power of compound interest. Sit down with Excel and run some numbers for how your net worth will change long term if you saved more and paid down debt sooner. It will give you some realistic sense of the power of compound interest in terms that relate to your specific situation. Start simple... pick your top 10 recent non-essential purchases and calculate how much that would be worth if you had invested that money in the stock market earning 8% over the next thirty years. Then visualize your present self sneaking up to your future self and stealing that much money right out of your own wallet. When I did that, it really resonated with me and made me think about how every dollar I spent on something non-essential was a kick to the crotch of poor old future me.\"",
"title": ""
},
{
"docid": "2f76a33c873603ac1284ac5b92b49c74",
"text": "How complicated is your budget? We have a fairly in depth excel spreadsheet that does the trick for us. Lots of formulas and whatnot for calculating income, outgo, expected and actual expenses, expenses budgeted over time (i.e. planned expenses that are semi-annual or annual) as well as the necessary emergency funds based on expenses. Took me a few hours to initially create and many tweaks over months to get just right but it's reliable and we know we'll never lose support for it. I'd be willing to share it if desired, I'll just have to remove our personal finance figures from it first.",
"title": ""
},
{
"docid": "2875ee4dbff21e3450c8336481610906",
"text": "Try a tool like mint.com that will send you text messages regarding how you budget is going. If you use mint, set up your budget to send you reminders before you hit your budget. Example: if my budget for dining out is $100, I tell mint.com it is $50 and I get nagging text messages after $50 to remind me to keep a lid on my spending.",
"title": ""
},
{
"docid": "1be62a1bbc7695255cb471e43e3333d2",
"text": "\"Congratulations on earning a great income. However, you have a lot of debt and very high living expenses. This will eat all of your income if you don't get a hold of it now. I have a few recommendations for you. At the beginning of each month, write down your income, and write down all your expenses for the month. Include everything: rent, food, utilities, entertainment, transportation, loan payments, etc. After you've made this plan for the month, don't spend any money that's not in the plan. You are allowed to change the plan, but you can't spend more than your income. Budgeting software, such as YNAB, will make this easier. You are $51,000 in debt. That is a lot. A large portion of your monthly budget is loan payments. I recommend that you knock those out as fast as possible. The interest on these loans makes the debt continue to grow the longer you hold them, which means that if you take your time paying these off, you'll be spending much more than $51k on your debt. Minimize that number and get rid of them as fast as possible. Because you want to get rid of the debt emergency as fast as possible, you should reduce your spending as much as you can and pay as much as you can toward the debt. Pay off that furniture first (the interest rate on that \"\"free money\"\" is going to skyrocket the first time you are late with a payment), then attack the student loans. Stay home and cook your own meals as much as possible. You may want to consider moving someplace cheaper. The rent you are paying is not out of line with your income, but New York is a very expensive place to live in general. Moving might help you reduce your expenses. I hope you realize at this point that it was pretty silly of you to borrow $4k for a new bedroom set while you were $47k in debt. You referred to your low-interest loans as \"\"free money,\"\" but they really aren't. They all need to be paid back. Ask yourself: If you had forced yourself to save up $4k before buying the furniture, would you still have purchased the furniture, or would you have instead bought a used set on Craigslist for $200? This is the reason that furniture stores offer 0% interest loans. They got you to buy something that you couldn't afford. Don't take the bait again. You didn't mention credit cards, so I hope that means that you don't owe any money on credit cards. If you do, then you need to start thinking of that as debt, and add that to your debt emergency. If you do use a credit card, commit to only charging what you already have in the bank and paying off the card in full every month. YNAB can make this easier. $50/hr and $90k per year are fairly close to each other when you factor in vacation and holidays. That is not including other benefits, so any other benefits put the salaried position ahead. You said that you have a few more years on your parents' health coverage, but there is no need to wait until the last minute to get your own coverage. Health insurance is a huge benefit. Also, in general, I would say that salaried positions have better job security. (This is no guarantee, of course. Anyone can get laid off. But, as a contractor, they could tell you not to come in tomorrow, and you'd be done. Salaried employees are usually given notice, severance pay, etc.) if I were you, I would take the salaried position. Investing is important, but so is eliminating this debt emergency. If you take the salaried position, one of your new benefits will be a retirement program. You can take advantage of that, especially if the company is kicking in some money. (This actually is \"\"free money.\"\") But in my opinion, if you treat the debt as an emergency and commit to eliminating it as fast as possible, you should minimize your investing at this point, if it helps you get out of debt faster. After you get out of debt, investing should be one of your major goals. Now, while you are young and have few commitments, is the best time to learn to live on a budget and eliminate your debt. This will set you up for success in the future.\"",
"title": ""
},
{
"docid": "16ee4513724d6b52193893884b7ffea9",
"text": "Having been in exactly this position (not in a debt hole, built a budget to get a better view of what spending is), I can say what the greatest gift it brings is: it's a decision tool. When you are spending out of only one account, you often make decisions based on the total money in the account. “Should we go out for dinner? Can I make this impulse purchase?” This is terrible, because many, if not all, of those dollars are already intended for certain future expenses like groceries, bills, etc. You can't see how many of those dollars are discretionary. A budget is like having many accounts. Instead of looking at your real account(s) to make spending decisions, you look at your budget lines. You to want impulse buy a gadget — do you have money remaining in a relevant budget line? If yes, the decision is yours, if no, the budget is telling you that you don't have dollars for that.* Similarly for more prosaic purchases — you want to splurge on some non-staple groceries to make a fancy dinner or try out a new recipe, and the budget line for Groceries will tell you if you can do that. Instead of looking at (e.g.) $6000 in a chequing account, you're looking at $600 (assigned) − $146.86 (spend) = $453.14 (available) in a monthly groceries budget line. Just like you can now see where your money has been going, by maintaining and using your budget lines, and having every single dollar you spend go through the budget (to show your totally assigned, total spent, and total remaining), you can continue to see where your money is going in near real-time. You're no longer looking at bills and statements to figure out what's going on and plan, you're looking at money flows and future intentions, as you should be. This approach to budgeting has completely changed our finances. So that's what a budget is for: real-time spending decision-making control over your money, which for us has translated into a lovely mix of painless austerity in spending categories where austerity is smart, and guilt-free spending in more indulgent categories because we have already determined exactly how much we can afford and wish to spend. * A budget line with insufficient funds doesn't actually take the decision entirely away from you though. If a budget line doesn't have funds to spare for a given purchase, you can still make the purchase — but now you're also making the decision to go and revise your budget, taking dollars away from other budget lines to adjust the line you've overspent, to keep the budget accurate.",
"title": ""
},
{
"docid": "195d6071acd6e2d8b387a469cc302541",
"text": "Bought 2400 at .02. Getting half out if it gets to .24 Update: I saw it rising fast so I switched my limit from .24 to .30 and it reached exactly .30 this morning. Just dumb luck. Hanging onto the other shares. Will still come out on top even if it crashes.",
"title": ""
}
] | fiqa |
6bf952ffb92611db1eea36be0ca9a497 | How to calculate the closing price percentage change for a stock? | [
{
"docid": "25fc959e1028b1ec366771661e75cb64",
"text": "The previous day's close on Thursday 10th October was 5,000.00 The close on Friday 11th October is 5,025.92 So the gain on Friday was 25.92 (5025.92 - 5000) or 0.52% (25.92/5000 x 100%). No mystery!",
"title": ""
}
] | [
{
"docid": "2c600e5d7c6579a79832cc6565ae570f",
"text": "\"Edited: Pub 550 says 30 days before or after so the example is ok - but still a gain by average share basis. On sale your basis is likely defaulted to \"\"average price\"\" (in the example 9.67 so there was a gain selling at 10), but can be named shares at your election to your brokerage, and supported by record keeping. A Pub 550 wash might be buy 2000 @ 10 with basis 20000, sell 1000 @9 (nominally a loss of 1000 for now and remaining basis 10000), buy 1000 @ 8 within 30 days. Because of the wash sale rule the basis is 10000+8000 paid + 1000 disallowed loss from wash sale with a final position of 2000 shares at 19000 basis. I think I have the link at the example: http://www.irs.gov/publications/p550/ch04.html#en_US_2014_publink100010601\"",
"title": ""
},
{
"docid": "a8121c431651f7b2b2fdc9de6f5f909e",
"text": "Try to find the P/E ratio of the Company and then Multiply it with last E.P.S, this calculation gives the Fundamental Value of the share, anything higher than this Value is not acceptable and Vice versa.",
"title": ""
},
{
"docid": "9443fc7e998ed1319ccfc06ef4babaf3",
"text": "\"The question mentions a trailing stop. A trailing stop is a type of stop loss order. It allows you to protect your profit on the stock, while \"\"keeping you in the stock\"\". A trailing stop is specified as a percentage of market price e.g. you might want to set a trailing stop at 5%, or 10% below the market price. A trailing stop goes up along with the market price, but if the market price drops it doesn't move down too. The idea is that it is there to \"\"catch\"\" your profit, if the market suddenly moves quickly against you. There is a nice explanation of how that works in the section titled Trailing Stops here. (The URL for the page, \"\"Tailing Stops\"\" is misleading, and a typo, I suspect.)\"",
"title": ""
},
{
"docid": "73143af4a4f1f0f7a3f85b82cb901a9f",
"text": "\"Their algorithm may be different (and proprietary), but how I would to it is to assume that daily changes in the stock are distributed normally (meaning the probability distribution is a \"\"bell curve\"\" - the green area in your chart). I would then calculate the average and standard deviation (volatility) of historical returns to determine the center and width of the bell curve (calibrating it to expected returns and implied volaility based on option prices), then use standard formulas for lognormal distributions to calculate the probability of the price exceeding the strike price. So there are many assumptions involved, and in the end it's just a probability, so there's no way to know if it's right or wrong - either the stock will cross the strike or it won't.\"",
"title": ""
},
{
"docid": "b0f869c36cbaef461e171d52dc5b2204",
"text": "What you're referring to is the yield. The issue with these sorts of calculations is that the dividend isn't guaranteed until it's declared. It may have paid the quarterly dividend like clockwork for the last decade, that does not guarantee it will pay this quarter. Regarding question number 2. Yield is generally an after the fact calculation. Dividends are paid out of current or retained earnings. If the company becomes hot and the stock price doubles, but earnings are relatively similar, the dividend will not be doubled to maintain the prior yield; the yield will instead be halved because the dividend per share was made more expensive to attain due to the increased share price. As for the calculation, obviously your yield will likely vary from the yield published on services like Google and Yahoo finance. The variation is strictly based on the price you paid for the share. Dividend per share is a declared amount. Assuming a $10 share paying a quarterly dividend of $0.25 your yield is: Now figure that you paid $8.75 for the share. Now the way dividends are allocated to shareholders depends on dates published when the dividend is declared. The day you purchase the share, the day your transaction clears etc are all vital to being paid a particular dividend. Here's a link to the SEC with related information: https://www.sec.gov/answers/dividen.htm I suppose it goes without saying but, historical dividend payments should not be your sole evaluation criteria. Personally, I would be extremely wary of a company paying a 40% dividend ($1 quarterly dividend on a $10 stock), it's very possible that in your example bar corp is a more sound investment. Additionally, this has really nothing to do with P/E (price/earnings) ratios.",
"title": ""
},
{
"docid": "cf0a0630c49827832045707c9e6dd2bf",
"text": "\"What you are looking for is an indicator called the \"\"Rate of Change (Price)\"\". It provides a rolling % change in the price over the period you have chosen. Below is an example showing a price chart over the last 6 months with a 100 day Rate of Change indicator below the price chart.\"",
"title": ""
},
{
"docid": "e9149538d610725a2eac924e1aea37af",
"text": "As I write this, the NASDAQ Composite is at 2790.00, down 6.14 points from yesterday. To calculate the percentage, you take 6.14 and divide by yesterday's close of 2796.14 to yield 0.22%. In your example, if SPY drops from 133.68 to 133.32, you use the difference of -0.36 and divide by the original, i.e. -0.36/133.68 = -0.27%. SPY is an ETF which you can invest in that tracks the S&P 500 index. Ideally, the index would have dropped the same percentage as SPY, but the points would be different (~10x higher). To answer your question about how one qualifies a point, it completely depends on the index being discussed. For example, the S&P 500 is a market-capitalization weighted index of the common stock of 500 large-cap US public companies. It is as if you owned every share of each of the 500 companies, then divide by some large constant to create a number that's easily understood mentally (i.e. 1330). The NASDAQ Composite used the same methodology but includes practically all stocks listed on the NASDAQ. Meanwhile, the Dow Jones Industrial Average is a price-weighted index of 30 large-cap companies. It's final value is modified using a divisor known as the Dow Divisor, which accounts for stock splits and similar events that have occurred since a stock has joined the index. Thus, points when referring to an index do not typically represent dollars. Rather, they serve as a quantitative measure of how the market is doing based on the performance of the index constituents. ETFs like SPY add a layer of abstraction by creating an investible vehicle that ideally tracks the value of the underlying index directly. Finally, neither price nor index value is related to volume. Volume is a raw measurement of the total number of shares traded for a given stock or the aggregate for a given exchange. Hope this helps!",
"title": ""
},
{
"docid": "f89cf25648c78c059f612da6c62af257",
"text": "Simple, there is no magic price adjustment after sales - why do you expect the stock price to change? The listed price of a stock is what someone was willing to pay for it in the last deal that was concluded. If any amount of stock changes ownership, this might have the effect that other people are willing to buy it for a higher price - or not. It is solely in the next buyer's decision what he is willing to pay. Example: if you think Apple stocks are worth 500$ a piece, and I buy a million of them, you might still think they are worth 500$. Or you might see this as a reason that they are worth 505$ now.",
"title": ""
},
{
"docid": "41d16faa39889d7deb9d94d194aa8873",
"text": "It helps to put the numbers in terms of an asset. Say a bottle of wine costs 10 dollars, but the price rises to 20 dollars a year later. The price has risen 100%, and your dollars have lost value. Whereas your ten used to be worth 100% of the price of bottle of wine, they now are worth 50% of the risen price of a bottle of wine so they've lost around 50% of their value. Divide the old price by the new inflated price to measure proportionally how much the old price is of the new price. 10 divided by 20 is 1/2 or .50 or 50%. You can then subtract the old price from the new in proportional terms to find how much value you've lost. 1 minus 1/2 or 1.00 minus .50 or 100% minus 50%.",
"title": ""
},
{
"docid": "4453c3be094df6db2bceddd7bde5d4fc",
"text": "With your numbers, look at it this way - You borrowed $50. When the stock is $100, you are at 50% margin. What's most important, is that there's margin interest charged, so the amount owed will increase regardless of the stock price. When calculating your return or loss, the interest has to be accounted for or your numbers will be wrong. For a small investor, margin rates can run high, and often, will offset much of your potential gain. What good is a $100 gain if you paid $125 in margin interest?",
"title": ""
},
{
"docid": "1e090411bf34d3e1a21c664640f3d881",
"text": "Graphs are nothing but a representation of data. Every time a trade is made, a point is plotted on the graph. After points are plotted, they are joined in order to represent the data in a graphical format. Think about it this way. 1.) Walmart shuts at 12 AM. 2.)Walmart is selling almonds at $10 a pound. 3.) Walmart says that the price is going to reduce to $9 effective tomorrow. 4.) You are inside the store buying almonds at 11:59 PM. 5.) Till you make your way up to the counter, it is already 12:01 AM, so the store is technically shut. 6.) However, they allow you to purchase the almonds since you were already in there. 7.) You purchase the almonds at $9 since the day has changed. 8.) So you have made a trade and it will reflect as a point on the graph. 9.) When those points are joined, the curves on the graph will be created. 10.) The data source is Walmart's system as it reflects the sale to you. ( In your case the NYSE exchange records this trade made). Buying a stock is just like buying almonds. There has to be a buyer. There has to be a seller. There has to be a price to which both agree. As soon as all these conditions are met, and the trade is made, it is reflected on the graph. The only difference between the graphs from 9 AM-4 PM, and 4 PM-9 AM is the time. The trade has happened regardless and NYSE(Or any other stock exchange) has recorded it! The graph is just made from that data. Cheers.",
"title": ""
},
{
"docid": "63d965f32d4308863997d8eb23a05539",
"text": "If one wants to have a bound on the loss percentages that are acceptable, this is would be a way to enforce that. For example, suppose someone wants to have a 5% stop-loss but doesn't want this to be worse than 10% as if the stock goes down more than 10% then the sell shouldn't happen. Thus, if the stock opened in a gap down 15% one day, this triggers the stop-loss and would exit at too low of a price as the gap was quite high as I wonder how familiar are you with how much a stock's price could change that makes the prices not be as continuous as one would think. At least this would be my thinking on a volatile stock where one may want to try to limit losses if the stock does fall within a specific range.",
"title": ""
},
{
"docid": "7af4f32798568d7e60f0dbc247e02a37",
"text": "The price-earnings ratio is calculated as the market value per share divided by the earnings per share over the past 12 months. In your example, you state that the company earned $0.35 over the past quarter. That is insufficient to calculate the price-earnings ratio, and probably why the PE is just given as 20. So, if you have transcribed the formula correctly, the calculation given the numbers in your example would be: 0.35 * 4 * 20 = $28.00 As to CVRR, I'm not sure your PE is correct. According to Yahoo, the PE for CVRR is 3.92 at the time of writing, not 10.54. Using the formula above, this would lead to: 2.3 * 4 * 3.92 = $36.06 That stock has a 52-week high of $35.98, so $36.06 is not laughably unrealistic. I'm more than a little dubious of the validity of that formula, however, and urge you not to base your investing decisions on it.",
"title": ""
},
{
"docid": "1cd39845c4506ace1ae07aecdfa65a9c",
"text": "Opening - is the price at which the first trade gets executed at the start of the trading day (or trading period). High - is the highest price the stock is traded at during the day (or trading period). Low - is the lowest price the stock is traded at during the day (or trading period). Closing - is the price at which the last trade gets executed at the end of the trading day (or trading period). Volume - is the amount of shares that get traded during the trading day (or trading period). For example, if you bought 1000 shares during the day and another 9 people also bought 1000 shares each, then the trading volume for the day would be 10 x 1000 = 10,000.",
"title": ""
},
{
"docid": "f535a0d7cc0538b79c889db8e26ef801",
"text": "Stock price = Earning per share * P/E Ratio. Most of the time you will see in a listing the Stock price and the P/E ration. The calculation of the EPS is left as an exercise for the student Investor.",
"title": ""
}
] | fiqa |
e35e64ce968920dfbd37c59fdeb3a8d5 | Standard Deviation with Asset Prices? | [
{
"docid": "d2c802df8fba1b6250d9dc0a737592b2",
"text": "You can use google docs to create a spreadsheet. In field A2, I put Google will load the prices into the sheet. At that point, I add the following into C12, then copy that line all the way down to the botton of column C. You can find my spreadsheet here. It calculates the moving 10 day standard deviation as a percentage of average price for that time period.",
"title": ""
},
{
"docid": "5fa54cf62db12e34c6926ed17d54279e",
"text": "\"Almost every online datasources provide historical prices on given company / index's performance; from this, you can easily calculate \"\"standard deviation\"\" by yourself. With that said, standard deviation presumes a fixed set of data. Most public corporations have data spanning multiple decades, during which a number of things have changed: For these reasons, I have doubts on simplistic measures, such as \"\"standard deviation\"\" measuring any reality on the underlying vehicle. Professional investors usually tend to more time-point data, such as P/E ratio.\"",
"title": ""
},
{
"docid": "bc9c402008b52c0eafe34f56502c5e48",
"text": "\"Some years ago, two \"\"academics,\"\" Ibbotson and Sinquefield did these calculations. (Roger) Ibbotson, is still around. So Google Roger Ibbotson, or Ibbotson Associates. There are a number of entries so I won't provide all the links.\"",
"title": ""
},
{
"docid": "f40ce647ec1934ec570d35784baa2775",
"text": "James Roth provides a partial solution good for stock picking but let's speed up process a bit, already calculated historical standard deviations: Ibbotson, very good collection of research papers here, examples below Books",
"title": ""
}
] | [
{
"docid": "d36d3ab2aaeb8734fd16cff48398a62a",
"text": "\"He's calculating portfolio variance. The general formula for the variance of a portfolio composed of two securities looks like this: where w_a and w_b are the weights of each stock in the portfolio and the sigmas represent the standard deviation/risk of each asset or portfolio. In the case of perfect positive or negative correlation, applying some algebra to the formula relating covariance to the correlation coefficient (rho, the Greek letter that looks like \"\"p\"\"): tells us that the covariance we need in the original formula is simply the product of the standard deviations and the correlation coefficient (-1 in this case). Combining that result with our original formula yields this calculation: Technically we've calculated the portfolio's variance and not it's standard deviation/risk, but since the square root of 0 is still 0, that doesn't matter. The Wikipedia article on Modern Portfolio Theory has a section that describes the mathematical methods I used above. The entire article is worth a read, however.\"",
"title": ""
},
{
"docid": "912d1ca43a19afff15b211b4e1968178",
"text": "Metals and Mining is an interesting special case for stocks. It's relationship to U.S. equity (SPX) is particularly weak (~0.3 correlation) compared to most stocks so it doesn't behave like equity. However, it is still stock and not a commodities index so it's relation to major metals (Gold for instance) is not that strong either (-0.6 correlation). Metals and Mining stocks have certainly underperformed the stock market in general over the past 25years 3% vs 9.8% (annualized) so this doesn't look particularly promising. It did have a spectacularly good 8 year period ('99-'07) though 66% (annualized). It's worth remembering that it is still stock. If the market did not think it could make a reasonable profit on the stock the price would decrease until the market thought it could make the same profit as other equity (adjusted slightly for the risk). So is it reasonable to expect that it would give the same return as other stock on average? Yes.. -ish. Though as has been shown in the past 25 years your actual result could vary wildly both positive and negative. (All numbers are from monthly over the last 25 years using VGPMX as a M&M proxy)",
"title": ""
},
{
"docid": "0037a4d50e0ab3ce6e8a5bbc69965b9c",
"text": "\"VaR does not do what it is supposed to do which is give you a \"\"floor\"\" with confidence on your potential losses. Even for portfolios with millions of instruments, it will not give you a metric that means anything. The point im trying to convey is that VaR does not give any meaningful information as its horribly inaccurate and that we would be better off WITHOUT VaR.\"",
"title": ""
},
{
"docid": "642b86f98a538677ffa13426a8d71943",
"text": "Is it POSSIBLE? Of course. I don't even need to do any research to prove that. Just some mathematical reasoning: Take the S&P 500. Find the performance of each stock in that list over whatever time period you want to use for your experiment. Now select some number of the best-performing stocks from the list -- any number less than 500. By definition, the X best must be better than or equal to the average. Assuming all the stocks on the S&P did not have EXACTLY the same performance, these 10 must be better than average. You now have a diversified portfolio that performed better than the S&P 500 index fund. Of course as they always say in a prospectus, past performance is not a guarantee of future performance. It's certainly possible to do. The question is, if YOU selected the stocks making up a diversified portfolio, would your selections do better than an index fund?",
"title": ""
},
{
"docid": "3ffd7588e47bdcfbf842058ec577af8f",
"text": "\"Answering this question is weird, because it is not really precise in what you mean. Do you want all stocks in the US? Do you want a selection of stocks according to parameters? Do you just want a cool looking graph? However, your possible misuse of the word derivative piqued my interest. Your reference to gold and silver seems to indicate that you do not know what a derivative actually is. Or what it would do in a portfolio. The straightforward way to \"\"see\"\" an efficient frontier is to do the following. For a set of stocks (in this case six \"\"randomly\"\" selected ones): library(quantmod) library(fPortfolio) library(PerformanceAnalytics) getSymbols(c(\"\"STZ\"\", \"\"RAI\"\", \"\"AMZN\"\", \"\"MSFT\"\", \"\"TWX\"\", \"\"RHT\"\"), from = \"\"2012-06-01\"\", to = \"\"2017-06-01\"\") returns <- NULL tickerlist <- c(\"\"STZ\"\", \"\"RAI\"\", \"\"AMZN\"\", \"\"MSFT\"\", \"\"TWX\"\", \"\"RHT\"\") for (ticker in tickerlist){ returns <- cbind(returns, monthlyReturn(Ad(eval(as.symbol(ticker))))) } colnames(returns) <- tickerlist returns <- as.timeSeries(returns) frontier <- portfolioFrontier(returns) png(\"\"frontier.png\"\", width = 800, height = 600) plot(frontier, which = \"\"all\"\") dev.off() minvariancePortfolio(returns, constraints = \"\"LongOnly\"\") Portfolio Weights: STZ RAI AMZN MSFT TWX RHT 0.1140 0.3912 0.0000 0.1421 0.1476 0.2051 Covariance Risk Budgets: STZ RAI AMZN MSFT TWX RHT 0.1140 0.3912 0.0000 0.1421 0.1476 0.2051 Target Returns and Risks: mean Cov CVaR VaR 0.0232 0.0354 0.0455 0.0360 https://imgur.com/QIxDdEI The minimum variance portfolio of these six assets has a mean return is 0.0232 and variance is 0.0360. AMZN does not get any weight in the portfolio. It kind of means that the other assets span it and it does not provide any additional diversification benefit. Let us add two ETFs that track gold and silver to the mix, and see how little difference it makes: getSymbols(c(\"\"GLD\"\", \"\"SLV\"\"), from = \"\"2012-06-01\"\", to = \"\"2017-06-01\"\") returns <- NULL tickerlist <- c(\"\"STZ\"\", \"\"RAI\"\", \"\"AMZN\"\", \"\"MSFT\"\", \"\"TWX\"\", \"\"RHT\"\", \"\"GLD\"\", \"\"SLV\"\") for (ticker in tickerlist){ returns <- cbind(returns, monthlyReturn(Ad(eval(as.symbol(ticker))))) } colnames(returns) <- tickerlist returns <- as.timeSeries(returns) frontier <- portfolioFrontier(returns) png(\"\"weights.png\"\", width = 800, height = 600) weightsPlot(frontier) dev.off() # Optimal weights out <- minvariancePortfolio(returns, constraints = \"\"LongOnly\"\") wghts <- getWeights(out) portret1 <- returns%*%wghts portret1 <- cbind(monthprc, portret1)[,3] colnames(portret1) <- \"\"Optimal portfolio\"\" # Equal weights wghts <- rep(1/8, 8) portret2 <- returns%*%wghts portret2 <- cbind(monthprc, portret2)[,3] colnames(portret2) <- \"\"Equal weights portfolio\"\" png(\"\"performance_both.png\"\", width = 800, height = 600) par(mfrow=c(2,2)) chart.CumReturns(portret1, ylim = c(0, 2)) chart.CumReturns(portret2, ylim = c(0, 2)) chart.Drawdown(portret1, main = \"\"Drawdown\"\", ylim = c(-0.06, 0)) chart.Drawdown(portret2, main = \"\"Drawdown\"\", ylim = c(-0.06, 0)) dev.off() https://imgur.com/sBHGz7s Adding gold changes the minimum variance mean return to 0.0116 and the variance stays about the same 0.0332. You can see how the weights change at different return and variance profiles in the picture. The takeaway is that adding gold decreases the return but does not do a lot for the risk of the portfolio. You also notice that silver does not get included in the minimum variance efficient portfolio (and neither does AMZN). https://imgur.com/rXPbXau We can also compare the optimal weights to an equally weighted portfolio and see that the latter would have performed better but had much larger drawdowns. Which is because it has a higher volatility, which might be undesirable. --- Everything below here is false, but illustrative. So what about the derivative part? Let us assume you bought an out of the money call option with a strike of 50 on MSFT at the beginning of the time series and held it to the end. We need to decide on the the annualized cost-of-carry rate, the annualized rate of interest, the time to maturity is measured in years, the annualized volatility of the underlying security is proxied by the historical volatility. library(fOptions) monthprc <- Ad(MSFT)[endpoints(MSFT, \"\"months\"\")] T <- length(monthprc) # 60 months, 5 years vol <- sd(returns$MSFT)*sqrt(12) # annualized volatility optprc <- matrix(NA, 60, 1) for (t in 1:60) { s <- as.numeric(monthprc[t]) optval <- GBSOption(TypeFlag = \"\"c\"\", S = s, X = 50, Time = (T - t) / 12, r = 0.001, b = 0.001, sigma = vol) optprc[t] <- optval@price } monthprc <- cbind(monthprc, optprc) colnames(monthprc) <- c(\"\"MSFT\"\", \"\"MSFTCall50\"\") MSFTCall50rets <- monthlyReturn(monthprc[,2]) colnames(MSFTCall50rets) <- \"\"MSFTCall50rets\"\" returns <- merge(returns, MSFTCall50rets) wghts <- rep(1/9, 9) portret3 <- returns%*%wghts portret3 <- cbind(monthprc, portret3)[,3] colnames(portret3) <- \"\"Equal weights derivative portfolio\"\" png(\"\"performance_deriv.png\"\", width = 800, height = 600) par(mfrow=c(2,2)) chart.CumReturns(portret2, ylim = c(0, 4.5)) chart.CumReturns(portret3, ylim = c(0, 4.5)) chart.Drawdown(portret2, main = \"\"Drawdown\"\", ylim = c(-0.09, 0)) chart.Drawdown(portret3, main = \"\"Drawdown\"\", ylim = c(-0.09, 0)) dev.off() https://imgur.com/SZ1xrYx Even though we have a massively profitable instrument in the derivative. The portfolio analysis does not include it because of the high volatility. However, if we just use equal weighting and essentially take a massive position in the out of the money call (which would not be possible in real life), we get huge drawdowns and volatility, but the returns are almost two fold. But nobody will sell you a five year call. Others can correct any mistakes or misunderstandings in the above. It hopefully gives a starting point. Read more at: https://en.wikipedia.org/wiki/Modern_portfolio_theory https://en.wikipedia.org/wiki/Option_(finance) The imgur album: https://imgur.com/a/LoBEY\"",
"title": ""
},
{
"docid": "66cb4794526b297c6db88ed859cc12b4",
"text": "Yes, more leverage increases the variance of your individual portfolio (variance of your personal net worth). The simple way to think about it is that if you only own only 50% of your risky assets, then you can own twice as many risky assets. That means they will move around twice as much (in absolute terms). Expected returns and risk (if risk is variance) both go up. If you lend rather than borrow, then you might have only half your net worth in risky assets, and then your expected returns and variation in returns will go down. Note, the practice of using leverage differs from portfolio theory in a couple important ways.",
"title": ""
},
{
"docid": "afb14cb77aafcc94aa5afce67252e3de",
"text": "Your question is a moving target. And my answer will be subject to revision. I disagree with the votes to close, as you are asking (imho) what role commodities and specifically oil, play in one's asset allocation. Right? How much may be opinion, but there's a place to ask if. I'm looking at this chart, and thinking, long term, the real return is zero. The discussion regarding gold has been pretty exhausted. For oil, it's not tough to make the case that it will fluctuate, but long term, there's no compelling reason to believe its price will rise any faster than inflation over the really long term.",
"title": ""
},
{
"docid": "20e5cfc13dc16a19aef4dc3ba03eba08",
"text": "\"Let me start by giving you a snippet of a report that will floor you. Beat the market? Investors lag the market by so much that many call the industry a scam. This is the 2015 year end data from a report titled Quantitive Analysis of Investor Behavior by a firm, Dalbar. It boggles the mind that the disparity could be this bad. A mix of stocks and bonds over 30 years should average 8.5% or so. Take out fees, and even 7.5% would be the result I expect. The average investor return was less than half of this. Jack Bogle, founder of Vanguard, and considered the father of the index fund, was ridiculed. A pamphlet I got from Vanguard decades ago quoted fund managers as saying that \"\"indexing is a path to mediocrity.\"\" Fortunately, I was a numbers guy, read all I could that Jack wrote and got most of that 10.35%, less .05, down to .02% over the years. To answer the question: psychology. People are easily scammed as they want to believe they can beat the market. Or that they'll somehow find a fund that does it for them. I'm tempted to say ignorance or some other hint at lack of intelligence, but that would be unfair to the professionals, all of which were scammed by Madoff. Individual funds may not be scams, but investors are partly to blame, buy high, sell low, and you get the results above, I dare say, an investor claiming to use index funds might not fare much better than the 3.66% 30 year return above, if they follow that path, buying high, selling low. Edit - I am adding this line to be clear - My conclusion, if any, is that the huge disparity cannot be attributed to management, a 6.7% lag from the S&P return to what the average investor sees likely comes from bad trading. To the comments by Dave, we have a manager that consistently beats the market over any 2-3 year period. You have been with him 30 years and are clearly smiling about your relationship and investing decision. Yet, he still has flows in and out. People buy at the top when reading how good he is, and selling right after a 30% drop even when he actually beat by dropping just 22%. By getting in and out, he has a set of clients with a 30 year record of 6% returns, while you have just over 11%. This paragraph speaks to the behavior of the investor, not managed vs indexed.\"",
"title": ""
},
{
"docid": "ed5e9ea4c94d16c474d6154a73443ab5",
"text": "Ok, so disregarding passivity, could you help me through a simplified example? Say I only had two assets, SPY and TLT, with a respective weight of 35 and 65% and I want want to leverage this to 4x. Additionally, say daily return covar is: * B/B .004% * B/S -.004% * S/S .02% Now, if I read correctly, I should buy ATM calls xxx days in the future. Which may look like: Ticker, S, K, Option Price, Delta, Lambda * TLT $126.04 $126.00 $4.35 0.50 14.5 * SPY $134.91 $134.00 $6.26 0.55 11.8 ^ This example is pretty close but some assets are far off. I feel like I'm on the wrong track so I'll stop here. I just want to lever up my risk-parity. Margin rates are too high and I'm docked by Reg-T.",
"title": ""
},
{
"docid": "a7a498ff5b209063fefb4cac4f013b83",
"text": "Use the Black-Scholes formula. If you know the current price, an options strike price, time until expiration, and risk-free interest rate, then knowing the market price of the option will tell you what the market's estimation of the volatility is. This does rely on a few assumptions, such as Gaussian random walk, but those are reasonable assumptions for most stocks. You can also get a list of past stock prices, put them in Excel, and ask Excel to calculate the standard deviation with stdev.s(), but that gives you the past volatility. The market's estimate of future volatility is more relevant.",
"title": ""
},
{
"docid": "70d63e6d6967e380b926dcbec8186683",
"text": "Variance of a single asset is defined as follows: σ2 = Σi(Xi - μ)2 where Xi's represent all the possible final market values of your asset and μ represents the mean of all such market values. The portfolio's variance is defined as σp2 = Σiwi2σi2 where, σp is the portfolio's variance, and wi stands for the weight of the ith asset. Now, if you include the borrowing in your portfolio, that would classify as technically shorting at the borrowing rate. Thus, this weight would (by the virtue of being negative) increase all other weights. Moreover, the variance of this is likely to be zero (assuming fixed borrowing rates). Thus, weights of risky assets rise and the investor's portfolio's variance will go up. Also see, CML at wikipedia.",
"title": ""
},
{
"docid": "ea037e297eea30bc449f3febfb1d4090",
"text": "\"When you have multiple assets available and a risk-free asset (cash or borrowing) you will always end up blending them if you have a reasonable objective function. However, you seem to have constrained yourself to 100% investment. Combine that with the fact that you are considering only two assets and you can easily have a solution where only one asset is desired in the portfolio. The fact that you describe the US fund as \"\"dominating\"\" the forign fund indicates that this may be the case for you. Ordinarily diversification benefits the overall portfolio even if one asset \"\"dominates\"\" another but it may not in your special case. Notice that these funds are both already highly diversified, so all you are getting is cross-border diversification by getting more than one. That may be why you are getting the solution you are. I've seen a lot of suggested allocations that have weights similar to what you are using. Finding an optimal portfolio given a vector of expected returns and a covariance matrix is very easy, with some reliable results. Fancy models get pretty much the same kinds of answers as simple ones. However, getting a good covariance matrix is hard and getting a good expected return vector is all but impossible. Unfortunately portfolio results are very sensitive to these inputs. For that reason, most of us use portfolio theory to guide our intuition, but seldom do the math for our own portfolio. In any model you use, your weak link is the expected return and covariance. More sophisticated models don't usually help produce a more reasonable result. For that reason, your original strategy (80-20) sounds pretty good to me. Not sure why you are not diversifying outside of equities, but I suppose you have your reasons.\"",
"title": ""
},
{
"docid": "9157668ebbbc45a29044fe7436148e70",
"text": "Yes, it's a risk. To put it in perspective, If we look at the data for S&P returns since 1871, we get a CAGR of 10.72%. But, that comes with a SDev (Standard deviation) of 18.67%. This results in 53 of the 146 years returning less than 4%. Now if we repeat the exercise over rolling 8 year periods, the CAGR drops to 9.22%, but the SDev drops to 5.74%. This results in just 31 of the 139 periods returning less than 4%. On the flip side, 26 periods had an 8 year return of over 15% CAGR. From the anti-DS article you linked, I see that you like a good analogy. For me, the returns of the S&P over the long term are like going to Vegas, and finding that after you run the math of their craps (dice rolling game) you find the expected return is 10%. You can still lose on a given roll. But over a series of a larger number of rolls, you're far ahead. To D Stanley - I agree that returns are not quite normal, but they are not so far off. Of the 139 rolling returns, we'd expect about 68% or 95 results to be 1 SDev away. We get 88 returns +/-1SDev. 2 SDevs? We'd expect only 5% to lie outside this range, and in fact, I only get one result on the low side and 4 on the high side, 5 results vs the 7 total we'd expect. The results are a bit better (more profitable) than the Normal Bell Curve fit would suggest.",
"title": ""
},
{
"docid": "5685b1ded2c93079cd5e6b11fdc85535",
"text": "I found that an application already exists which does virtually everything I want to do with a reasonable interface. Its called My Personal Index. It has allowed me to look at my asset allocation all in one place. I'll have to enter: The features which solve my problems above include: Note - This is related to an earlier post I made regarding dollar cost averaging and determining rate of returns. (I finally got off my duff and did something about it)",
"title": ""
},
{
"docid": "72faef81eeeb16c4029bb254d6fd4804",
"text": "> One is whether prices are correlated to each other for long periods of time as a preliminary study suggested (which would go against efficient markets hypothesis, since you could use that info to game the market) or if that result is illusory and the long term returns are close to a standard normal distribution which would follow the effiecient markets hypo. The fascinating thing about this is that the returns themselves show no correlation at all (at any time scale), but the *absolute* returns do. i.e. following a sharp rise/drop in price, you can predict that a sharp rise/drop is likely to follow, you just can't say in which direction. And this effect carries over for long periods. Given that by the central limit theorem the sum of identically distributed random variables converges to a gaussian, leads one to think that short term returns *ought* to be gaussian also. However, they're not. Evidently there is something very subtle going on.",
"title": ""
}
] | fiqa |
af55bed8cddd202840db06c4a623a92b | What is this discrepency between Fidelity's and Google's stock price chart; large price spike? | [
{
"docid": "8f399907f2221e4bdc9aefb8c11cf52c",
"text": "This is from Google Finance right now.",
"title": ""
}
] | [
{
"docid": "7073c8abdac940794381ca8c2ea69bbd",
"text": "You are comparing apples and oranges: the charts show the capital appreciation excluding dividends. If you include dividends and calculate a total return over that period you see VSMAX up 132% vs. FSEVX up 129%, i.e. quite close. That residual difference is possibly due to a performance difference between the two benchmarks.",
"title": ""
},
{
"docid": "96a2942dfa624446406a128889324e34",
"text": "There's a premium or discount for various stocks subject to influence by the alternatives available to investors, meaning investments are susceptible to the principle of supply and demand. This is easily seen when industries or business models get hot, and everybody wants a tech company, a social media company, or a solar company in his portfolio. You'll see bubbles like the dotcom bubble, the RE bubble, etc., as people start to think that the industry and not its performance are all that matters. The stock price of a desired industry or company is inflated beyond what might otherwise be expected, to accommodate the premium that the investment can demand. So if bonds become uniformly less attractive in terms of returns, and certain institutional investors are largely obliged to continue purchasing them anyway, then flexible investors will need to look elsewhere. As more people want to buy stocks, the price rises. Supply and demand is sometimes so elementary it feels nearly counter-intuitive, but it applies here as elsewhere.",
"title": ""
},
{
"docid": "3226b984a2e3f7ed89feb25f3e373bf9",
"text": "\"Probably the biggest driver of the increased volumes that day was a change in sentiment towards the healthcare sector as a whole that caused many healthcare companies to experience higher volumes ( https://www.bloomberg.com/press-releases/2017-07-11/asset-acquisitions-accelerate-in-healthcare-sector-boosting-potential-revenue-growth ). Following any spike, not just sentiment related spikes, the market tends to bounce back to about where it had been previously as analysts at the investment banks start to see the stock(s) as being overbought or oversold. This is because the effect of a spike on underlying ratios such as the Sharpe ratio or the PE ratio makes the stock look less attractive to buyers and more attractive to sellers, including short sellers. Note, however, that the price is broadly still a little higher than it was before the spike as a result of this change in sentiment. Looking at the price trends on Bloomberg (https://www.bloomberg.com/quote/CDNA:US) the price had been steadily falling for the year prior to the spike but was levelling out at just over $1 in the few months immediately prior to the spike. The increased interest in the sector and the stock likely added to a general change in the direction of the price trend and caused traders (as opposed to investors) to believe that there was a change in the price trend. This will have lead to them trading the stock more heavily intraday exacerbating the spike. Note that there traders will include HFT bots as well as human traders. You question the legality of this volume increase but the simple answer is that we may never know if it was the target of traders manipulating the price or a case of insider trading. What we can see is that (taking \"\"animal spirits\"\" into account) without any evidence of illegality there are plenty of potential reasons why the spike may have occurred. Spikes are common where traders perceive a change in a trend as they rush to cash in on the change before other traders can and then sell out quickly when they realise that the price is fundamentally out of sync with the firm's underlying position. You yourself say that you have been watching the stock for some time and, by that fact alone, it is likely that others are for the same reasons that you are. Otherwise you wouldn't be looking at it. Where people are looking at a stock expecting it to take off or drop you expect volatility and volatility means spikes!\"",
"title": ""
},
{
"docid": "b3a1c1a22b4ef798a3315cc961bded21",
"text": "In your other question about these funds you quoted two very different yields for them. That pretty clearly says they are NOT tracking the same index.",
"title": ""
},
{
"docid": "a26da9e8aaa057b993b4972726e78b83",
"text": "For each class A share (GOOGL) there's a class C share (GOOG), hence the missing half in your calculation. The almost comes from the slightly higher market price of the class A shares (due to them having voting powers) over class C (which have no voting powers). There's also class B share which is owned by the founders (Larry, Sergei, Eric and perhaps some to Stanford University and others) and differs from class A by the voting power. These are not publicly traded.",
"title": ""
},
{
"docid": "3e363c6bd754da752d1092b160f4188f",
"text": "\"In addition to the answers provided above, the weight the Dow uses to determine the index is not the market capitalization of the company involved. That means that companies like Google and Apple with very high share prices and no particular inclination to split could adversely effect the Dow, turning it into essentially the \"\"Apple and Google and then some other companies\"\" Industrial Average. The highest share price Dow company right now, IIRC, is IBM. Both Google and Apple would have three times the influence on the Index as IBM does now.\"",
"title": ""
},
{
"docid": "b68bad2dd32ed96a0277f985351565f9",
"text": "It just states that the price doesn't justify the valuation which is not a factual statement. Also this is based on someones opinion of the companies P/E. The P/E was published and public information and idiots on both the buy and sell side jumped in. The article does not make a factual claim about Fraud (cooking the books), Francine McKenna speculates that management and auditors cooked the books.",
"title": ""
},
{
"docid": "9726e74175e398790e35f056a69a16cd",
"text": "To clarify something: FB did not inflate their share price, Morgan Stanley did. Every company on the IPO wants a billion dollars a share, but thats not possible so they take what the market will give them, FB played their cards right. MS didn't disclose that their analysts (not auditors) changed their minds. For fun stuff: read up on ETF arbitrage with HFT, this kinda stuff happens everyday on a micro scale.",
"title": ""
},
{
"docid": "fca73e29b05038112a00f43c8a4f49ef",
"text": "You are right: if the combined value of all outstanding GOOG shares was $495B, and the combined value of all GOOGL shares was $495B, then yes, Alphabet would have a market cap of at least $990B (where I say at least only because I myself don't know that there aren't other issues that should be in the count as well). The respective values of the total outstanding GOOG and GOOGL shares are significantly less than that at present though. Using numbers I just grabbed for those tickers from Google Finance (of course), they currently stand thus:",
"title": ""
},
{
"docid": "7c7e2492482cabf5a89816370180c36c",
"text": "The only recommendation I have is to try the stock screener from Google Finance : https://www.google.com/finance?ei=oJz9VenXD8OxmAHR263YBg#stockscreener",
"title": ""
},
{
"docid": "6360e82fca576b1e4ac690aac5a37829",
"text": "\"I looked at data from Sept 2010 to present: Standard deviation is what shows the spread shape of returns over time, and it meanS that about 2/3 of the time, AAPL return was within +/- 1.65 higher/lower than the daily average return which was .21 %. Not sure where to go with this except to suggest that in fact, AAPL is more volatile than the S&P and even another random tech company. With time, I'd probably come up with a list of stock more volatile. I know that when I look at a list of stocks I track on Yahoo, there are always a few that are just as volatile on a given day. Excel makes the above analysis easy to do for a given stock, and it's actually an interesting exercise, at least for me. Disclaimer - the shape of stock returns is not a bell curve, and STdev is just a best fit. Edit - given more time to tinker on excel, it would be interesting to see how the stock's volatility tracked over the years, did it increase or does it feel that way due to the high price? A $20 swing on a $600 stock is the same as a $2 swing on a $60 stock, yet \"\"up $20\"\" sounds huge.\"",
"title": ""
},
{
"docid": "d59301acd1b942e879c09beefec5df5d",
"text": "tl;dr: The CNN Money and Yahoo Finance charts are wildly inaccurate. The TD Ameritrade chart appears to be accurate and shows returns with reinvested dividends. Ignoring buggy data, CNN most likely shows reinvested dividends for quoted securities but not for the S&P 500 index. Yahoo most likely shows all returns without reinvested dividends. Thanks to a tip from Grade Eh Bacon, I was able to determine that TD Ameritrade reports returns with reinvested dividends (as it claims to do). Eyeballing the chart, it appears that S&P 500 grew by ~90% over the five year period the chart covers. Meanwhile, according to this S&P 500 return estimator, the five year return of S&P 500, with reinvested dividends, was 97.1% between July 2012 to July 2017 (vs. 78.4% raw returns). I have no idea what numbers CNN Money is working from, because it claims S&P 500 only grew about 35% over the last five years, which is less than half of the raw return. Ditto for Yahoo, which claims 45% growth. Even stranger still, the CNN chart for VFINX (an S&P 500 index fund) clearly shows the correct market growth (without reinvesting dividends from the S&P 500 index), so whatever problem exists is inconsistent: Yahoo also agrees with itself for VFINX, but comes in a bit low even if your assume no reinvestment of dividends (68% vs. 78% expected); I'm not sure if it's ever right. By way of comparison, TD's chart for VFINX seems to be consistent with its ABALX chart and with reality: As a final sanity check, I pulled historical ^GSPC prices from Yahoo Finance. It closed at $1406.58 on 27 Aug 2012 and $2477.55 on 28 Aug 2017, or 76.1% growth overall. That agrees with TD and the return calculator above, and disagrees with CNN Money (on ABALX). Worse, Yahoo's own charts (both ABALX and VFINX) disagree with Yahoo's own historical data.",
"title": ""
},
{
"docid": "694d61038875d217fb33e9c503362398",
"text": "I know quite a few mutual fund wholesalers making over a mil right here in the states. Having said that, none of them are at Fido. Fidelity is a private firm but having started my career there, I wouldn't be surprised if they're paying a few people that much who have been there forever. They also extend extremely cheap credit to employees at the MD role and above, at least that was the case when I was there.",
"title": ""
},
{
"docid": "1ca4aa43255f1b1f575ff0e602651839",
"text": "\"Remember that in most news outlets journalists do not get to pick the titles of their articles. That's up to the editor. So even though the article was primarily about ETFs, the reporter made the mistake of including some tangential references to mutual funds. The editor then saw that the article talked about ETFs and mutual funds and -- knowing even less about the subject matter than the reporter, but recognizing that more readers' eyeballs would be attracted to a headline about mutual funds than to a headline about ETFs -- went with the \"\"shocking\"\" headline about the former. In any case, as you already pointed out, ETFs need to know their value throughout the day, as do the investors in that ETF. Even momentary outages of price sources can be disastrous. Although mutual funds do not generally make transactions throughout the day, and fund investors are not typically interested in the fund's NAV more than once per day, the fund managers don't just sit around all day doing nothing and then press a couple buttons before the market closes. They do watch their NAV very closely during the day and think very carefully about which buttons to press at the end of the day. If their source of stock price data goes offline, then they're impacted almost as severely as -- if less visibly than -- an ETF. Asking Yahoo for prices seems straightforward, but (1) you get what you pay for, and (2) these fund companies are built on massive automated infrastructures that expect to receive their data from a certain source in a certain way at a certain time. (And they pay a lot of money in order to be able to expect that.) It would be quite difficult to just feed in manual data, although in the end I suspect some of these companies did just that. Either they fell back to a secondary data supplier, or they manually constructed datasets for their programs to consume.\"",
"title": ""
},
{
"docid": "d424b29f29d724e29c526bee6f6ce5bf",
"text": "The yield on Div Data is showing 20% ((3.77/Current Price)*100)) because that only accounts for last years dividend. If you look at the left column, the 52 week dividend yield is the same as google(1.6%). This is calculated taking an average of n number of years. The data is slightly off as one of those sites would have used an extra year.",
"title": ""
}
] | fiqa |
6f2b9bdbc2a483dcbbb5d8045a88a7f3 | Where can I find the nominal price of a stock prior a split into multiple companies? | [
{
"docid": "46107768afe2203cb02edd2da483f598",
"text": "When Hewlett Packard split they changed their name to HP Inc. and spun off Hewlett Packard Enterprise as a new corporation. This means HP Inc. has the same stock history and ticker (HPQ) as Hewlett Packard did so that's the one you want to search for. As you noticed this also means it's impossible to search for old Hewlett Packard's stock performance alone. One free service that seems to show the unadjusted historical stock price of HPQ is Google finance: https://www.google.com/finance?q=NYSE%3AHPQ",
"title": ""
},
{
"docid": "2f1721cc48ab6a1e9bf96c676aaed666",
"text": "Yahoo Finance provides the proper closing price. HP's historical data around the split date can be found here. The open, high and low of the day are wrong prior the split, but the closing price is right and for HP, it was $26.96 USD. The next day the closing price was $13.83 USD.",
"title": ""
}
] | [
{
"docid": "4f86a8a4bb3fa8d170e7d2cb5f67b104",
"text": "Thanks for your thorough reply. Basically, I found a case study in one of my old finance workbooks from school and am trying to complete it. So it's not entirely complicated in the sense of a full LBO or merger model. That being said, the information that they provide is Year 1 EBITDA for TargetCo and BuyerCo and a Pro-Forma EBITDA for the consolidated company @ Year 1 and Year 4 (expected IPO). I was able to get the Pre-Money and Post-Money values and the Liquidation values (year 4 IPO), as well as the number of shares. I can use EBITDA to get EPS (ebitda/share in this case) for both consolidated and stand-alone @ Year 1, but can only get EPS for consolidated for all other years. Given the information provided. One of the questions I have is do I do anything with my liquidation values for an accretion/dilution analysis or is it all EPS?",
"title": ""
},
{
"docid": "3ed36d63a9b925c315ab217b16467959",
"text": "Have you looked at what is in that book value? Are the assets easily liquidated to get that value or could there be trouble getting the fair market value as some assets may not be as easy to sell as you may think. The Motley Fool a few weeks ago noted a book value of $10 per share. I could wonder what is behind that which could be mispriced as some things may have fallen in value that aren't in updated financials yet. Another point from that link: After suffering through the last few months of constant cries from naysayers about the company’s impending bankruptcy, shareholders of Penn West Petroleum Ltd. (TSX:PWT)(NYSE:PWE) can finally look toward the future with a little optimism. Thus, I'd be inclined to double check what is on the company books.",
"title": ""
},
{
"docid": "eeebccfd8c6527653932d31d4e087b9a",
"text": "Since you asked about Apple, and I happen to have two positions - This is what happened. I was long the $500, short the $600, in effect, betting Apple would recover from its drop from $700 down to $450 or so. Friday, my target was to hope that Apple remain above $600, but not really caring how much it went over. Now, post split, the magic number is $85.71. My account shows the adjusted option pricing, but doesn't yet show AAPL's new price.",
"title": ""
},
{
"docid": "3905d2c2904e354193891754dc85ccd1",
"text": "It will be similar to what you have said -- the options price will adjust accordingly following a stock split - Here's a good reference on different scenarios - Splits, Mergers, Spinoffs & Bankruptcies also if you have time to read Characteristics & Risks of Standardized Options",
"title": ""
},
{
"docid": "16b3af99339f2f92b430b82684535adb",
"text": "\"Such data is typically only available from paid sources due to the amount of research involved in determining the identity of delisted securities, surviving entities in merger scenarios, company name changes, symbol changes, listing venue changes, research of all capital events such as splits, and to ensure that the data coverage is complete. Many stocks that are delisted from a major exchange due to financial difficulties are still publicly tradeable companies with their continuing to trade as \"\"OTC\"\" shares. Some large companies even have periods where they traded for a period of their history as OTC. This happened to NYSE:NAV (Navistar) from Feb 2007 to July 2008, where they were delisted due to accounting statement inaccuracies and auditor difficulties. In the case of Macromedia, it was listed on NASDAQ 13 Dec 1993 and had its final day of trading on 2 Dec 2005. It had one stock split (2:1) with ex-date of 16 Oct 1995 and no dividends were ever paid. Other companies are harder to find. For example, the bankrupt General Motors (was NYSE:GM) became Motoros Liquidation Corp (OTC:MTLQQ) and traded that way for almost 21 months before finally delisting. In mergers, there are in two (or more) entities - one surviving entity and one (or more) delisted entity. In demergers/spinoffs there are two (or more) entities - one that continues the capital structure of the original company and the other newly formed spun-off entity. Just using the names of the companies is no indication of its history. For example, due to monopoly considerations, AT&T were forced to spinoff multiple companies in 1984 and effectively became 75% smaller. One of the companies they spunoff was Southwestern Bell Corporation, which became SBC Communications in 1995. In 2005 SBC took over its former parent company and immediately changed its name to AT&T. So now we have two AT&Ts - one that was delisted in 2005 and another that exists to this day. Disclosure: I am a co-owner of Norgate Data (Premium Data), a data vendor in this area.\"",
"title": ""
},
{
"docid": "0c9e754e3769d7ad1a16dbc3e6c90ba5",
"text": "It seems like you want to compare the company's values not necessarily the stock price. Why not get the total outstanding shares and the stock price, generate the market cap. Then you could compare changes to market cap rather than just share price.",
"title": ""
},
{
"docid": "3d58f98963f60b0132ca92e895b7293a",
"text": "\"Wouldn't this be part of your investing strategy to know what price is considered a \"\"good\"\" price for the stock? If you are going to invest in company ABC, shouldn't you have some idea of whether the stock price of $30, $60, or $100 is the bargain price you want? I'd consider this part of the due diligence if you are picking individual stocks. Mutual funds can be a bit different in automatically doing fractional shares and not quite as easy to analyze as a company's financials in a sense. I'm more concerned with the fact that you don't seem to have a good idea of what the price is that you are willing to buy the stock so that you take advantage of the volatility of the market. ETFs would be similar to mutual funds in some ways though I'd probably consider the question that may be worth considering here is how much do you want to optimize the price you pay versus adding $x to your position each time. I'd probably consider estimating a ballpark and then setting the limit price somewhere within that. I wouldn't necessarily set it to the maximum price you'd be willing to pay unless you are trying to ride a \"\"hot\"\" ETF using some kind of momentum strategy. The downside of a momentum strategy is that it can take a while to work out the kinks and I don't use one though I do remember a columnist from MSN Money that did that kind of trading regularly.\"",
"title": ""
},
{
"docid": "5db2500544c713428b4b849702c8e351",
"text": "In order to see whether you can buy or sell some given quantity of a stock at the current bid price, you need a counterparty (a buyer) who is willing to buy the number of stocks you are wishing to offload. To see whether such a counterparty exists, you can look at the stock's order book, or level two feed. The order book shows all the people who have placed buy or sell orders, the price they are willing to pay, and the quantity they demand at that price. Here is the order book from earlier this morning for the British pharmaceutical company, GlaxoSmithKline PLC. Let's start by looking at the left-hand blue part of the book, beneath the yellow strip. This is called the Buy side. The book is sorted with the highest price at the top, because this is the best price that a seller can presently obtain. If several buyers bid at the same price, then the oldest entry on the book takes precedence. You can see we have five buyers each willing to pay 1543.0 p (that's 1543 British pence, or £15.43) per share. Therefore the current bid price for this instrument is 1543.0. The first buyer wants 175 shares, the next, 300, and so on. The total volume that is demanded at 1543.0p is 2435 shares. This information is summarized on the yellow strip: 5 buyers, total volume of 2435, at 1543.0. These are all buyers who want to buy right now and the exchange will make the trade happen immediately if you put in a sell order for 1543.0 p or less. If you want to sell 2435 shares or fewer, you are good to go. The important thing to note is that once you sell these bidders a total of 2435 shares, then their orders are fulfilled and they will be removed from the order book. At this point, the next bidder is promoted up the book; but his price is 1542.5, 0.5 p lower than before. Absent any further changes to the order book, the bid price will decrease to 1542.5 p. This makes sense because you are selling a lot of shares so you'd expect the market price to be depressed. This information will be disseminated to the level one feed and the level one graph of the stock price will be updated. Thus if you have more than 2435 shares to sell, you cannot expect to execute your order at the bid price in one go. Of course, the more shares you are trying to get rid of, the further down the buy side you will have to go. In reality for a highly liquid stock as this, the order book receives many amendments per second and it is unlikely that your trade would make much difference. On the right hand side of the display you can see the recent trades: these are the times the trades were done (or notified to the exchange), the price of the trade, the volume and the trade type (AT means automatic trade). GlaxoSmithKline is a highly liquid stock with many willing buyers and sellers. But some stocks are less liquid. In order to enable traders to find a counterparty at short notice, exchanges often require less liquid stocks to have market makers. A market maker places buy and sell orders simultaneously, with a spread between the two prices so that they can profit from each transaction. For instance Diurnal Group PLC has had no trades today and no quotes. It has a more complicated order book, enabling both ordinary buyers and sellers to list if they wish, but market makers are separated out at the top. Here you can see that three market makers are providing liquidity on this stock, Peel Hunt (PEEL), Numis (NUMS) and Winterflood (WINS). They have a very unpalatable spread of over 5% between their bid and offer prices. Further in each case the sum total that they are willing to trade is 3000 shares. If you have more than three thousand Dirunal Group shares to sell, you would have to wait for the market makers to come back with a new quote after you'd sold the first 3000.",
"title": ""
},
{
"docid": "ff68b09fef2ab83c41d8cf7759d12c2c",
"text": "The point of that question is to test if the user can connect shares and stock price. However, that being said yeah, you're right. Probably gives off the impression that it's a bit elementary. I'll look into changing it asap.",
"title": ""
},
{
"docid": "5949539198c871c182c0da1bb78ce5e5",
"text": "I'm going to guess that you found this because of a stock screener. This company went through a 1:20 reverse split on June 30, so every 20 shares outstanding became a single share. Where before you had 20 shares worth $100 you now have 1 share worth $100, the value of the company doesn't change because of a split. This company was never trading for $30+ per share. Reverse splits are typical of a floundering company trading on an exchange that has a minimum share price requirement. While reverse splits don't change the value of the company, just the number of shares outstanding and the price per share, no healthy company performs a reverse split. Reverse splits are generally a massive signal to jump ship... The company seems to be trading for $1 right now, why the value fell from a pre-split $1.65 ($33/20) to $1 is anyone's guess; how the company ever got to $1.65 is also anyone's guess. But looking at the most recent 10-Q there are numerous causes for concern: Note 2. Capital Stock On March 6, 2017, the Company issued as compensation for services provided a total of 650,000 common shares with a fair value of $390,000 to a third party. The fair value of the shares was based on the price quoted on the OTC pink sheets on the grant date. this indicates a share price of $0.60 ($390,000/650,000) as of 3/6/2017, just to reinforce that the google price chart doesn't show the true past but a past adjusted for the split Results of Operations The three months ended March 31, 2017 compared to the three months ended March 31, 2016 For the three months ended March 31, 2017 compared to the three months ended March 31, 2016, total revenues were $0 and $0, respectively, and net losses from operations were $414,663 and $26,260, respectively. The net losses were attributable to costs attributable to operating as a public company, in particular, common stock with a valuation of $390,000 that was issued to an investor relations firm in the first quarter of 2017. Going Concern As of March 31, 2017, there is substantial doubt regarding our ability to continue as a going concern as we have not generated sufficient cash flow to fund our proposed business. We have suffered recurring losses from operations since our inception. In addition, we have yet to generate an internal cash flow from our business operations or successfully raised the financing required to develop our proposed business. As a result of these and other factors, our independent auditor has expressed substantial doubt about our ability to continue as a going concern. Liquidity and Capital Resources We had no cash as of the date of March 31, 2017. Additionally, since there is no balance sheet in the last 10-Q (another bad sign), the last annual report 10-K has this balance sheet: So the company: So why did the stock value plummet? It's anyones' guess but there is no shortage of ways to justify it. In fact, it's reasonable to ask how is this company still worth $3mm ($1 * 3mm shares outstanding)...",
"title": ""
},
{
"docid": "fa2aae462316eb64f23cb448a361783e",
"text": "I found the answer. It was the Stock Ticker that I was looking for. So, if I understand correctly the price at certain moment is the price of the latest sale and can be used to get a global picture of what certain stock is worth at that certain instant.",
"title": ""
},
{
"docid": "fb4662dbbb78fcfdf7d4f2c5a9341614",
"text": "Are you sure you're not just looking at prices that are adjusted for the split, e.g. Yahoo? For example, Gilead Sciences (GILD) split a few months ago, but if you look at a price chart, there isn't an interruption even though the split is clearly marked. (Look in the past six months; it split in January). However, you could also simply be watching companies that happen to not split, for a variety of reasons. This isn't a criticism, but rather just a consequence of whatever stocks you happen to be watching. However, a quick search for information on stock splits yields a few articles (mainly from the Motley Fool) that argue that fewer companies are performing stock splits in recent years; the articles mainly talk about tech companies, and they make the argument that even though the shares in Google and Apple have a high stock price: Google and Apple aren't all that expensive by traditional valuation metrics. Google trades at just 15 times next year's projected profitability. Apple fetches a mere 13 times fiscal 2012's bottom-line estimates. These articles are a bit dated in terms of the stock prices, but the rationale is probably still good. Similar logic could apply for other companies; for example, since May 2009, Panera's stock price has climbed by almost a factor of 4 without splitting. The articles also make the point that stock splits were traditionally seen as bullish signs because: Companies splitting to bring their share prices back down to more accessible levels were optimistic in building those sand castles back up. One could make a fair argument that the overall economic climate isn't as bullish as it used to be, although I would only be convinced that this was affecting stock splits if data could be gathered and tested. A stock split can also raise the price of a stock because if small investors feel the stock is suddenly more accessible to them, they purchase more of it and might therefore drive up the price. (See the Investopedia article on stock splits for more information). Companies might not see the necessity in doing this because their stock price isn't high enough to warrant a split or because the price isn't high enough to outprice smaller investors. One interesting point to make, however, is that even though stock splits can drive small investors to buy more of the stock, this isn't always a gain for the company because professional investors (firms, institutions, etc.) have a tendency to sell after a split. The paper is a bit old, but it's still a very neat read. It's possible that more and more companies no longer see any advantage to splitting because it might not affect their stock price in the long run, and arguably could even hurt it. Considering that large/professional investors likely hold a higher percentage of a company's shares than smaller investors, if a stock split triggers a wave of selling by the former, the increasing propensity to buy of the latter may not be enough to offset the decline in price. Note: My answer only refers to standard stock splits; the reasons above may not apply to a decrease in the number of reverse stock splits (which may not be a phenomenon; I don't know).",
"title": ""
},
{
"docid": "3877c57cc08994391fb855b9a0d73018",
"text": "Lets pretend that TELSA decided to split its stock 10 shares for 1. Now the stock is $35 dollars- would that make you happy? You dont have any idea how companies are valued. Berkshire Hathaway Inc. Class A NYSE: BRK.A - Oct 31, 12:58 PM EDT 280,210.00 USD",
"title": ""
},
{
"docid": "5b9bddfbc13053744ab668020e549954",
"text": "Yes that is the case for the public company approach, but I was referring to the transaction approach: Firm A and Firm B both have $100 in EBITDA. Firm A has $50 in cash, Firm B has $100 in cash. Firm A sells for $500, Firm B sells for $600. If we didn't subtract cash before calculating the multiple: Firm A: 5x Firm B: 6x If we DO subtract cash before calculating the multiple: Firm A: 4.5x Firm B: 5x So yea, subtracting cash does skew the multiple.",
"title": ""
},
{
"docid": "58d1faa2f4156ea3d559119dac018463",
"text": "Moody's is now Mergent Online. It's no longer being printed, and must be accessed digitally. In order to browse the database, check with your local public library or university to see if you can get access. (A University will probably require you to visit for access). Another good tool is Value Line Reports. They are printed information sheets on public companies that are updated regularly, and are convenient for browsing and for comparing securities. Again, check your local libraries. A lot of the public information you may be looking for can be found on Yahoo Finance, for free, from home. Yahoo finance, will give financial information, ratios, news, filings, analysis, all in one place.",
"title": ""
}
] | fiqa |
b769833ddcfc5f61549ec777a39e9764 | What is the best approach to save money for College for three kids? | [
{
"docid": "eba5c2ba274df6502e56ad38243d40fb",
"text": "I'm not a 'rule of thumb' guy, but here, I'd suggest that if you can set aside 10% of your income each year for college, that would be great. That turns out to be $900/mo. In 15 years, if you saw an 8% CAGR, you'd have $311K which happens to be in your range of expenses. And you'd still have time to go as the baby won't graduate for 22(?) years. (Yup, 10% is a good rule of thumb for your income and 3 kids) Now, on the other hand, I'd research what grants you'd be able to get if you came up short. If instead of saving a dime, you funded your own retirement and the spouse's IRA if she's not working, and time the mortgage to pay it off in 15 years from now, the lack of liquid funds actually runs in your favor. But, I'm not an expect on this, just second guessing my own fully funded college account for my daughter.",
"title": ""
},
{
"docid": "08ee211456d7e66773f461a9c5da1805",
"text": "In your situation you will be using your normal savings to offset additional funding from student loans or similar financing. Also, sending your children to or moving to a jurisdiction that has lower education costs but ample opportunity should also be in your cards. That can be another state, or another country.",
"title": ""
},
{
"docid": "aeea9f35d7a9d2dab8fea36f74b043f3",
"text": "Live where you live now untill your kids are about to go to college. Then move to Germany and send your children to college for FREE. The german universities may be not in the top 10 of the world (THE), but are still competitive enough on a worldwide scale. Also, if your children excell at college, it should not be a huge problem to transfer them to the top universities in the UK or US (with scholarships from Germany). In addition, your children can go on a exchange to other universities for a couple of months or multiple years, fully funded by the European Union or the german universities.",
"title": ""
}
] | [
{
"docid": "f64638bc09f0ef72ed1083f5cd0918a8",
"text": "Talk freely about what you can now do because of saving. If you plan to retire sooner than most, or more comfortably than most, and can tie that to something you want them to do, show them that. If you buy a very nice car, or install a pool, and they wish they could afford that, tell them it took 5 or 10 or 20 years to save up for it, at x a week, and now you have it with no loan. Or be a cautionary tale: wish you had something, and regret not having saved for it. Young adults are generally well served by knowing more of parental finances than they did while they were dependents. Ask them if they will want or need to fund parental leaves, make a down payment for a house, own vacation property, put a child through post secondary education (share the cost of theirs including living expenses if you paid them), or go on amazing vacations fairly regularly. Tell them what those things cost in round figures. Explain how such a huge sum of money can accumulate over 2, 5, 10 years of saving X a month. for example $10 a week is $500 a year and so on. While they may not want to save 20 years for their downpayment, doing this simple math should let them map their savings amounts to concrete wishes and timeframes. Finally, if this is your own child and they live with you, charge them rent. This will save them from developing the habit of spending everything they earn, along with the expensive tastes and selfish speaking habits that come with it. Some parents set the rent aside and give it back as a wedding or graduation present, or to help with a downpayment later, but even if you don't, making them live within their true means, not the inflated means you have when you're living rent-free, is truly a gift.",
"title": ""
},
{
"docid": "818edb54d776c4eabb8f6feafd817655",
"text": "If I were in your shoes (I would be extremely happy), here's what I would do: Get on a detailed budget, if you aren't doing one already. (I read the comments and you seemed unsure about certain things.) Once you know where your money is going, you can do a much better job of saving it. Retirement Savings: Contribute up to the employer match on the 401(k)s, if it's greater than the 5% you are already contributing. Open a Roth IRA account for each of you and make the max contribution (around $5k each). I would also suggest finding a financial adviser (w/ the heart of a teacher) to recommend/direct your mutual fund investing in those Roth IRAs and in your regular mutual fund investments. Emergency Fund With the $85k savings, take it down to a six month emergency fund. To calculate your emergency fund, look at what your necessary expenses are for a month, then multiply it by six. You could place that six month emergency fund in ING Direct as littleadv suggested. That's where we have our emergency funds and long term savings. This is a bare-minimum type budget, and is based on something like losing your job - in which case, you don't need to go to starbucks 5 times a week (I don't know if you do or not, but that is an easy example for me to use). You should have something left over, unless your basic expenses are above $7083/mo. Non-retirement Investing: Whatever is left over from the $85k, start investing with it. (I suggest you look into mutual funds) it. Some may say buy stocks, but individual stocks are very risky and you could lose your shirt if you don't know what you're doing. Mutual funds typically are comprised of many stocks, and you earn based on their collective performance. You have done very well, and I'm very excited for you. Child's College Savings: If you guys decide to expand your family with a child, you'll want to fund what's typically called a 529 plan to fund his or her college education. The money grows tax free and is only taxed when used for non-education expenses. You would fund this for the max contribution each year as well (currently $2k; but that could change depending on how the Bush Tax cuts are handled at the end of this year). Other resources to check out: The Total Money Makeover by Dave Ramsey and the Dave Ramsey Show podcast.",
"title": ""
},
{
"docid": "67c31d2f35d612cbf8002be1e740d5fd",
"text": "while not stated, if you have any debt at all, use the $3000 to pay it off. That's the best investment in the short term. No risk and guaranteed reward. College can invite all sorts of unexpected expenses and opportunities, so stay liquid, protect working capital.",
"title": ""
},
{
"docid": "d88b143f604b061c9ef2d7da84ec1e71",
"text": "\"Others have given some good answers. I'd just like to chime in with one more option: treasury I-series bonds. They're linked to an inflation component, so they won't lose value (in theory). You can file tax returns for your children \"\"paying\"\" taxes (usually 0) on the interest while they're minors, so they appreciate tax-free until they're 18. Some of my relatives have given my children money, and I've invested it this way. Alternatively, you can buy the I-bonds in your own name. Then if you cash them out for your kids' education, the interest is tax-free; but if you cash them out for your own use, you do have to pay taxes on the interest.\"",
"title": ""
},
{
"docid": "8a979a73f77054a714c784cc7b2ad6e0",
"text": "The value of money is not only in the earning and saving of it but also in the discipline in spending it. Any approach to teaching children about money must ensure a balance between the two otherwise they will either become fearful of spending (and so never actually learn that money is but a tool and can be enjoyed) or irresponsible (spending with abandon with all that concomitant misery): Teaching kids about money is a wonderful opportunity to instil discipline and values. Any strategy must be structured to suite the child's age and abilities as well. Trying to teach compound interest to too young a child will just become needlessly confusing and worrying for them. Hope this gives a few ideas.",
"title": ""
},
{
"docid": "f9ba2fbf8bc4ade401666b89c7123cbf",
"text": "\"First of all, I'm happy that the medical treatments were successful. I can't even imagine what you were going through. However, you are now faced with a not-so-uncommon reality that many households face. Here's some other options you might not have thought of: I would avoid adding more debt if at all possible. I would first focus on the the cost side. With a good income you can also squeeze every last dollar out of your budget to send them to school. I agree with your dislike of parent loans for the same reasons, plus they don't encourage cost savings and there's no asset to \"\"give back\"\" if school doesn't work out (roughly half of all students that start college don't graduate) I would also avoid borrowing more than 80% of your home's value to avoid PMI or higher loan rates. You also say that you can pay off the HELOC in 5 years - why can you do that but not cash flow the college? Also note that a second mortgage may be worse that a HELOC - the fees will be higher, and you still won't be able to borrow more that what the house is worth.\"",
"title": ""
},
{
"docid": "4f741b5e69fc8bdf210951b55a0ed4c7",
"text": "There are some useful comments about the tradeoffs of the decisions in front of you. Intertwined with the financial choices, hopefully you can see a map opening up. Make a little chart if it helps. Benefit and Cost. If you're looking for financial options, you will have to also add more columns to that chart: Option and Cost. An example is the comment on making connections with rich kids. Trust fund babies are everywhere in this country. Did you know any rich kids while growing up? How were those rich kids you knew of back then... in your school... in your town? How did they treat you? Were you ever invited to their parties or gatherings? Now there's an opportunity for the privilege to pay a lot of money to sit in a classroom next to them? Even in the early days of American history with merit based millionaires... tycoons who made it rich by the seat of their pants. At fancy dinner parties and soirees, a new term emerged to put each other again out of reach: old money (the deserving) and new money (uncultured climbers). That's my bias. You'll have some of your own. What is important to YOU has to come through because these days, the price tag of any higher education implies a considerable piece of your life's timeline will be committed to... something. Make sure you get what you feel is worth that commitment. Take stock of what has been said here by the others, but put a value on those choices and seriously consider what you're willing to pay for... and what you're not. There is no formula for your success as there's been thousands of exceptions... ESID (Every Situation is Different).",
"title": ""
},
{
"docid": "89dc3693851505397f9ef379fcf04750",
"text": "Just a thought, but have you considered approaching your sister about assuming the student loans or repaying your mother (even if it is a small amount/month) for financing her college education? If she is in her last year of college, in theory she should be earning at least some income within the next 2 years. Also, it doesn't seem like a lot to ask considering the sacrifices (both financial and otherwise) that a single mom probably made over the years. I'm sure your mom would be hesitant to ask as it seems like she prioritizes her children above herself by your description of the situation, but I bet if you could talk the sister into the mom would grudgingly accept it if she really is in such a tight financial situation.",
"title": ""
},
{
"docid": "d2c29031750a1f4124686de9a85bd34f",
"text": "\"Create one account. You can change the beneficiary of the plan (even to nephews, nieces, yourself or your wife) as many times as you need so long as you are spending the money on valid educational expenses. Are you 100% sure both of your kids are going to college? If you aren't really 100% sure, a single account that you can move between them is the best bet. Also, having recently looked in 529 plans, here are some things you have probably already thought about. Look up good 529 plans here: http://www.clarkhoward.com/news/education/preparing-for-college/clarks-529-guide/nFZS/ EDIT: I don't think you can worry about fairly dividing the money up. I can see your wanting to be fair but what is more important, school or fairly dividing the money? A 529 is money only for school. Assuming your kids aren't the same age and won't go to the same school, their expenses will likely be different. The younger kid will benefit from more interest from a longer investment, but suffer from having higher costs. So if you want to insure both kids got $50K (for example) from you by the time it is all said and done, I think you would have to make that up from your own pocket. If only one child goes to school, any money you give the other for starting their own business couldn't come from the 529 without big tax penalties. Depending on your position and finances you could state something like \"\"I will cover your college expenses up to $50K\"\" and then that is that. Just monitor your 529 and shoot for having $100K in the account by the time they are both college age. That runs a risk though, because if one child doesn't go to school your money is locked up for a while or will have tax issues.\"",
"title": ""
},
{
"docid": "d2d3bd109720544f604955e63246b380",
"text": "Having separate savings account for your kids college fund, retirement fund, holiday fund etc is one way to compartmentalise savings. Downside to this is the management of these funds especially if you have them with different banks. Like others here have pointed out, keeping track via spreadsheet is relatively easy and especially most banks now like OCBC, HSBC , DBS, POSB etc offer online banking, however from a financial standpoint, spreading your funds doesn't allow you to get as much interest as you would from one account that has the highest interest rate.",
"title": ""
},
{
"docid": "a5a8f00d13d6121c63e2703247e507dc",
"text": "\"Bookkeeping and double-entry accounting is really designed for tracking the finances of a single entity. It sounds like you're trying to use it to keep multiple entities' information, which may somewhat work but isn't really going to be the easiest to understand. Here's a few approaches: In this approach, the books are entirely from your perspective. So, if you're holding onto money that \"\"really\"\" belongs to your kids, then what you've done is you're taking a loan from them. This means that you should record it as a liability on your books. If you received $300, of which $100 was actually yours, $100 belongs to Kid #1 (and thus is a loan from him), and $100 belongs to Kid #2 (and thus is a loan from her), you'd record it just that way. Note that you only received $100 of income, since that's the only money that's \"\"yours\"\", and the other $200 you're only holding on behalf of your kids. When you give the money to your kids or spend it on their behalf, then you debit the liability accordingly and credit the Petty Cash or other account you spent it from. If you wanted to do this in excruciating detail, then your kids could each have their own set of books, in which they would see a transfer from their own Income:Garage Sale account into their Assets:Held by Parents account. For this, you just apportion each of your asset accounts into subaccounts tracking how much money each of you has in it. This lets you treat the whole family as one single entity, sharing in the income, expenses, etc. It lets you see the whole pool of money as being the family's, but also lets you track internally some value of assets for each person. Whenever you spend money you need to record which subaccount it came from, and it could be more challenging if you actually need to record income or expenses separately per person (for some sort of tax reasons, say) unless you also break up each Income and Expense account per person as well. (In which case, it may be easier just to have each person keep their entirely separate set of books.) I don't see a whole lot of advantages, but I'll mention it because you suggested using equity accounts. Equity is designed for tracking how much \"\"capital\"\" each \"\"investor\"\" contributes to the entity, and for tracking a household it can be hard for that to make a lot of sense, though I suppose it can be done. From a math perspective, Equity is treated exactly like Liabilities in the accounting equation, so you could end up using it a lot like in my Approach #1, where Equity represents how much you owe each of the kids. But in that case, I'd find it simpler to just go ahead and treat them as Liabilities. But if it makes you feel better to just use the word Equity rather than Liability, to represent that the kids are \"\"investing\"\" in the household or the like, go right ahead. If you're going to look at the books from your perspective and the kids as investing in it, the transaction would look like this: And it's really all handled in the same way an Approach #1. If on the other hand, you really want the books to represent \"\"the family\"\", then you'd need to have the family's books really look more like a partnership. This is getting a bit out of my league, but I'd imagine it'd be something like this: That is to say, the family make the sale, and has the money, and the \"\"shareholders\"\" could see it as such, but don't have any obvious direct claim to the money since there hasn't been a distribution to them yet. Any assets would just be assumed to be split three ways, if it's an equal partnership. Then, when being spent, the entity would have an Expense transaction of \"\"Dividend\"\" or the like, where it distributes the money to the shareholders so that they could do something with it. Alternatively, you'd just have the capital be contributed, And then any \"\"income\"\" would have to be handled on the individual books of the \"\"investors\"\" involved, as it would represent that they make the money, and then contributed it to the \"\"family books\"\". This approach seems much more complicated than I'd want to do myself, though.\"",
"title": ""
},
{
"docid": "4aa520a1d1a26c149834d06fbe2adda4",
"text": "For the requirement for risk free and hassle free account a CD or money market account through your local bank, credit union, or even large online bank will be fine. These funds won't grow very fast over time but they are safe and insured. These types of accounts are perfect for all the miscellaneous birthday, Holiday and religious event checks. There is not a requirement that the money be in a UGMA (Uniform Gifts to Minors Act) account. Putting it in a UGMA account does make it hard for the parents to spend. The IRS does allow the child to have earnings from banks without the formality of a UGMA. The money shouldn't be moved between the parent's and child's account but it is possible for the parents to spend the child's money if times are tight and the money is used for items that benefit the child. If there is a reasonable assumption of college then the 529 plan makes a lot of sense. The prepaid tuition options would be risky because they tend to be tied to a single state, and who knows where they will be living in 10 to 15 years. The 529 does focus the money to be used for educational expenses, but it can be used for non-educational expenses if you are willing to pay the taxes and penalties. It can also be transferred to another child later, or even other family members. In my state the 529 plan doesn't have to be used right after high school graduation. It can be used up to 30 years after graduation. So they can decide a few years later that they want to go back to school.",
"title": ""
},
{
"docid": "47159602579961792fc1d47d4eaa0d10",
"text": "Please take a look a Dave Ramsey's Baby Step plan. It has all the details that you need to clean up your personal finance situation. None of your options are good. As some of the other answers mentioned, behavior modification is the key. Any idea will be worthless if you just wind up in debt again. Many, many people, including me, have made the change using Dave's plan. You can too. With regard to helping your son with tuition, are there better or cheaper options? It does not make sense to put yourself in financial peril in order to cover college expenses. I understand that is a tough decision but he is a man now and needs to be part of the real world solution. Following the Baby Steps: The biggest factor is a belief that you can fix the mess. 30k is not really that much, with a good plan and focus, you can clean it up. Good luck.",
"title": ""
},
{
"docid": "5b5a9693833bb4297095593573f88ccf",
"text": "Budget. Figure out how much money you need to keep for your own spending purposes, then figure out from that how much you can afford to move to longer term savings for youeself and/or the kid. Try it for a while, see if it works, adjust how much you can afford to save, repeat. (Actually, you want to further reduce the savings a bit until the emergency fund comes up to a level you feel comfortable at, then increase them to acceptable targets.) It's OK if you miss or reduce some deposits to the savings plans while you get the emergency fund up to a level you're comfortable at. If you don't feel you're saving enough after making these adjustments, you need to economize somewhere so you have more money to save, or make more money, or recalibrate your expectations. You can't get a gallon out of a quart container.",
"title": ""
},
{
"docid": "73665670f8f89a0dfc6e8dd8afc68fdb",
"text": "A $100K house and $100K are not equivalent assets. Here's a hypothetical... You and I both work for the same company, and both get a $100K bonus (yes, I said it's hypothetical). You decide to use the $100K to pay off your house. I put the money in the bank. Six months later, our company lays both of us off. I have $100K in the bank. I can last for quite a while with that much money in the bank. You have a house, but you can't get a mortgage or home equity loan, because you don't have a job. The only way you can access the money is by selling the house, which requires you to pay money to a real estate agent and perhaps taxes, and leaves you looking for a place to live. That assumes there isn't something systemic going on - like the credit crash - and there is credit available for somebody else to buy your house.",
"title": ""
}
] | fiqa |
c42ba0a85fad7f7a0f2a6cac218a48ee | Why are fund managers' average/minimum purchase price from form 13F the same? | [
{
"docid": "b842ef5bae3b4edbd9ca18149dc746d7",
"text": "The GuruFocus Link is just reporting the high and low price of the quarter. Price Range (Average) – The estimated trade prices. The average price is calculated from the time weighted average during the period. If no price range is shown, the trade prices are estimated trade prices, which are more accurate estimates. AAPL: $420.05 - $549.03 ($467.26) The numbers for the high and low match what I found for AAPL on Yahoo Finance. Keep in mind their definition uses estimate 3 times.",
"title": ""
}
] | [
{
"docid": "e6ff181f6984f73fd45717d9330d42c4",
"text": "Mutual funds don't work like stocks in that way. The price of a mutual fund is set at the end of each day and doesn't fluctuate during the day. So no matter when you put in your order, it will be filled at the end of the day at whatever the closing price is for that day. Here is some good information on that There is no continuous pricing of fund shares throughout the trading day. When an investor places an order to buy or sell a fund's shares, the order is executed based on the NAV calculated at the end of that trading day, regardless of what time during the day the order was placed. On the other hand, if the investor were to check the price of his or her fund shares halfway through the business day, the price quoted would be the previous day's NAV because that was the last time the fund calculated and reported the value. -http://www.finweb.com/investing/how-mutual-funds-are-priced.html",
"title": ""
},
{
"docid": "7a31634080d21cd160fd160fc41d54b5",
"text": "\"That's an example of the Act applying to an adviser to a fund, not a fund being exempt from the Act. An adviser to a 3(c)7 fund in this case is taking advantage of a safe harbor pertaining to performance-based compensation set forth in the Act. The reasoning is that a 3(c)7 fund will by definition most likely be comprised of \"\"qualified clients.\"\" The prohibition does apply to other private funds - such as 3(c)1 funds. To the extent that their investors are not \"\"qualified clients,\"\" they are unable to charge a performance-based fee.\"",
"title": ""
},
{
"docid": "f6098bada08d41d7fd8943cd63346d6f",
"text": "From The Prospectus for VTIVX; as compared to the Total Stock Market Fund; You can see how the Target date fund is a 'pass through' type of expense. It's not an adder. That's how I read this.",
"title": ""
},
{
"docid": "f721f620e679c516aabc50115b8c3d77",
"text": "If you are investing for 10 years, then you just keep buying at whatever price the fund is at. This is called dollar-cost averaging. If the fund is declining in value from when you first bought it, then when you buy more, the AVERAGE price you bought in at is now lower. So therefore your losses are lower AND when it goes back up you will make more. Even if it continues to decline in value then you keep adding more money in periodically, eventually your position will be so large that on the first uptick you will have a huge percent gain. Anyway this is only suggested because you are in it for 10 years. Other people's investment goals vary.",
"title": ""
},
{
"docid": "1fec42beb84e2821dd90cd035446ea8d",
"text": "Something like cost = a × avg_spreadb + c × volatilityd × (order_size/avg_volume)e. Different brokers have different formulas, and different trading patterns will have different coefficients.",
"title": ""
},
{
"docid": "ce6a9019ce22a1ff13282f68d93ca6f4",
"text": "\"A bond fund will typically own a range of bonds of various durations, in your specific fund: The fund holds high-quality long-term New York municipal bonds with an average duration of approximately 6–10 years So through this fund you get to own a range of bonds and the fund price will behave similar to you owning the bonds directly. The fund gives you a little diversification in terms of durations and typically a bit more liquidity. It also may continuously buy bonds over time so you get some averaging vs. just buying a bond at a given time and holding it to maturity. This last bit is important, over long durations the bond fund may perform quite differently than owning a bond to maturity due to this ongoing refresh. Another thing to remember is that you're paying management fees for the fund's management. As with any bond investment, the longer the duration the more sensitive the price is to change in interest rates because when interest rates change the price will track it. (i.e. compare a change of 1% for a one year duration vs. 1% yearly over 10 years) If I'm correct, why would anyone in the U.S. buy a long-term bond fund in a market like this one, where interest rates are practically bottomed out? That is the multi-trillion dollar question. Bond prices today reflect what \"\"people\"\" are willing to pay for them. Those \"\"people\"\" include the Federal Reserve which through various programs (QE, Operate Twist etc.) has been forcing the interest rates to where they want to see them. If no one believed the Fed would be able to keep interest rates where they want them then the prices would be different but given that investors know the Fed has access to an infinite supply of money it becomes a more difficult decision to bet against that. (aka \"\"Don't fight the Fed\"\"). My personal belief is that rates will come up but I haven't been able to translate that belief into making money ;-) This question is very complex and has to do not only with US policies and economy but with the status of the US currency in the world and the world economy in general. The other saying that comes to mind in this context is that the market can remain irrational (and it certainly seems to be that) longer than you can remain solvent.\"",
"title": ""
},
{
"docid": "9a2fb8987853dd7bb42da0a18d64dd5a",
"text": "The ETF price quoted on the stock exchange is in principle not referenced to NAV. The fund administrator will calculate and publish the NAV net of all fees, but the ETF price you see is determined by the market just like for any other security. Having said that, the market will not normally deviate greatly from the NAV of the fund, so you can safely assume that ETF quoted price is net of relevant fees.",
"title": ""
},
{
"docid": "72fc81b3b8029581818dc18f64cc52af",
"text": "Index funds, like IBB, generally lack active management, which equates to lower expenses. This is simply because the target index, the NASDAQ Biotechnology Index in the case of IBB, is composed of known quantities. This means there won't be stock pickers or analysts constantly swapping holdings, increasing the turnover rate of the portfolio and increasing capital gains; costs that are offset by higher expense ratios in more actively managed funds.",
"title": ""
},
{
"docid": "62bd1ec7fbc41f09cab8725e9bfa0b4d",
"text": "\"Exchange A has 100 shares of a stock at $10, the next 100 shares cost $10.01. Exchange B has the same pricing structure. A fund manager wants to buy 200 shares of the stock, and decides that buying 100 shares at $10 from each exchange will be cheaper than staying in one exchange and paying $10.01 for the second half of his order. The manager places two separate orders. Let's say the first order reaches exchange A, and the trade executes at $10. Traders (algorithms) on exchange B see this happen, and adjust their price up to $10.01 accordingly. Now, when the manager's order reaches exchange B, there will no longer be any shares trading at $10. Some people say that this is front running, but if the manager only wanted 100 shares, the price would have still shifted. Some say this creates a more efficient market with tighter spreads due to the decreased risk to the market maker, but it also means the aggregate bid-ask offers across multiple exchanges are not necessarily accurate, creating a \"\"false liquidity\"\". You can decide for yourself whether or not this is a good thing.\"",
"title": ""
},
{
"docid": "793ccb71f403b6df10f6d9e5aeef7d72",
"text": "Bond ETFs are just another way to buy a bond mutual fund. An ETF lets you trade mutual fund shares the way you trade stocks, in small share-size increments. The content of this answer applies equally to both stock and bond funds. If you are intending to buy and hold these securities, your main concerns should be purchase fees and expense ratios. Different brokerages will charge you different amounts to purchase these securities. Some brokerages have their own mutual funds for which they charge no trading fees, but they charge trading fees for ETFs. Brokerage A will let you buy Brokerage A's mutual funds for no trading fee but will charge a fee if you purchase Brokerage B's mutual fund in your Brokerage A account. Some brokerages have multiple classes of the same mutual fund. For example, Vanguard for many of its mutual funds has an Investor class (minimum $3,000 initial investment), Admiral class (minimum $10,000 initial investment), and an ETF (share price as initial investment). Investor class has the highest expense ratio (ER). Admiral class and the ETF generally have much lower ER, usually the same number. For example, Vanguard's Total Bond Market Index mutual fund has Investor class (symbol VBMFX) with 0.16% ER, Admiral (symbol VBTLX) with 0.06% ER, and ETF (symbol BND) with 0.06% ER (same as Admiral). See Vanguard ETF/mutual fund comparison page. Note that you can initially buy Investor class shares with Vanguard and Vanguard will automatically convert them to the lower-ER Admiral class shares when your investment has grown to the Admiral threshold. Choosing your broker and your funds may end up being more important than choosing the form of mutual fund versus ETF. Some brokers charge very high purchase/redemption fees for mutual funds. Many brokers have no ETFs that they will trade for free. Between funds, index funds are passively managed and are just designed to track a certain index; they have lower ERs. Actively managed funds are run by managers who try to beat the market; they have higher ERs and tend to actually fall below the performance of index funds, a double whammy. See also Vanguard's explanation of mutual funds vs. ETFs at Vanguard. See also Investopedia's explanation of mutual funds vs. ETFs in general.",
"title": ""
},
{
"docid": "e76b027a9e1943e499ed139aa5f86886",
"text": "The top ten holdings for these funds don't overlap by even one stock. It seems to me they are targeting an index for comparison, but making no attempt to replicate a list of holdings as would, say, a true S&P index.",
"title": ""
},
{
"docid": "3f09a659705f500b5a9e46f2f59bb4d0",
"text": "This idea does not make sense for most mutual funds. The net asset value, or NAV, is the current market value of a fund's holdings, minus the fund's liabilities, that is usually expressed as a per-share amount. For most funds, the NAV is determined daily, after the close of trading on some specified financial exchange, but some funds update their NAV multiple times during the trading day. http://en.wikipedia.org/wiki/Mutual_fund I am not certain, but I believe that OppenheimerFunds does not report intraday prices. I would call them up and ask.",
"title": ""
},
{
"docid": "f22e40edd6be3fb6f5e338904500d122",
"text": "It depends on what site you're looking on and what exchange they're pulling the data from. Even though funds and stocks are called the same thing, they have different ticker symbols in each country's exchange or could be traded as pink sheet stocks in the US. If a company or fund is based in another country (like Canada or the UK) they probably also trade on that country's exchange (Toronto or London) under a different symbol. This can cause a lot of confusion when researching these tickers.",
"title": ""
},
{
"docid": "fdb0d925b58ea2b1b9af8fe85c545a4c",
"text": "E&P can be valid throug Net Present Value methods, on a field-by-field basis. As no field is ever-lasting, and there Are not an unlimited number of fields, perpetuity-formulaes Are shitty. FCFF on a per-field basis with WC and Capex, with a definite lifetime. Thank you for the compliment.",
"title": ""
},
{
"docid": "16d2dbc7eed8d201c0d4dcbccae79fcd",
"text": "\"Limited Price is probably equivalent to the current par value of a \"\"limit order\"\". Markets move fast, and if the commodity is seeing some volatility in the buy and sell prices, if you place an ordinary buy order you may not get the price you were quoted. A \"\"limit order\"\" tells your broker or whomever or whatever is making the order on your behalf that you will pay no more than X yuan. While the market is below that price, the trader will attempt to get you the quantity you want, but if they can't get you your full order for an average price less than the limit, the whole thing is rolled back. You can set a limit at any price, but a limit order of 1 yuan for a pound of sterling silver will likely never be executed as long as the market itself is functioning. So, you are being provided with a \"\"par value\"\" that they can guarantee will be executed in the current market. Entrustment prices are probably prices offered to the managers of trust funds. A trust is simply a set of securities and/or cash which is placed under the nominal control of a third party, who then must in good faith attempt to fulfill the goals of the actual owner of the securities with regards to growth or retention of value. Trustees almost never speculate with the money they control, but when they do move money it's often a sizeble chunk (hundreds of thousands or millions of dollars instead of a few thousand dollars here and there). So, in return for the long-term holdings, large buys and sells, and thus the reduced cost of maintaining a business relationship with the broker, the broker may offer better prices to trust fund managers.\"",
"title": ""
}
] | fiqa |
7fedce5378b167eae69b54a02266f731 | How to spend more? (AKA, how to avoid being a miser) | [
{
"docid": "f1d2295d32b48161d6f25fb7ba05e92e",
"text": "\"I spend hours researching two comparable products to try to save $3. Me too! I have also argued for hours with customer support to get $5/month off a bill (that's $60/year!), and I feel guilty every time I eat out or do something remotely luxurious, like getting fries with my $1 McChicken. Geez, even when I play video games, I hate spending the in-game currency. For me, it's obsessive-compulsive traits that cause it, but please note that I'm not claiming @Eddie has them. Just speaking for myself here, but I hope it helps. I still struggle with my miserliness, but I can share what works for me and what doesn't. I don't think I'm valuing my time nearly as much as I should. Me neither, but knowing that doesn't help; it makes it worse. For me, putting a dollar amount on how much I value my time does not work because that just complicates the problem and amplifies how much time I spend solving that multi-variable optimization problem. Consider trying to convince Monk not to avoid germs in order to build antibodies; it just makes him think more about germs, raising anxiety and making easy decisions (use a handkerchief to touch doorknobs) into a hard decision (should I touch it or should I not?). It also amplifies the regret whenever you finally make a certain choice (\"\"what if I did the calculation wrong?\"\" or \"\"what if I'm going to get sick tomorrow because I touched that doorknob?\"\"). Making the problem more complicated isn't the solution. So how to make it simpler? Make the decision ahead of time! For me, budgets are the key to reducing the anxiety associated with financial decision making. Every six months or so, my wife and I spend hours deciding how much to spend per month on things. We can really take our time analyzing it because we only have to do it occasionally. Once we set $50/month for restaurants, I no longer have to feel like a loser every time we eat out -- similarly for discretionary spending and everything else. TBH, I'm not sure exactly why it works -- why I don't regret the dollar amounts we put on every budget -- but it really does help. I join my coworkers for lunch on Fridays because I already decided that was okay. At that point, I can focus my OC-tendencies on eating every last gram of organic matter on my plate. Without directly touching the ketchup bottle, of course. :) Again, just speaking for myself, but having budgets has done wonders for my stress level with respect to finances. For me, budgets are less about restricting my spending and more about permitting me to spend! It's not perfect, but it helps. (Not that it's relevant, but I reworded this answer about 20 times and only hit 'Post' with great effort to suppress the need to keep editing it! I'll be refreshing every 30 seconds for updates.)\"",
"title": ""
},
{
"docid": "f1940207b9d487c29859fb32ca17e83d",
"text": "The key question is this - What brings you happiness? How much is this behavior actually making you miserable? It's possible, and important, to find balance between frugality and as you say, being a miser. It's also important to understand the diminishing return, and to value not just your hour of time but your happiness-hour. By this I mean there's a distinction between an hour arguing with a customer service rep and spending an hour on a project yourself. There are countless people who push a lawn mower around every Saturday even though they have the money to hire a mowing company. Fresh air, exercise, quiet time, for them it makes sense. We pick and choose. The happy mower is in a good place. The miserable mower who hates doing it and just won't spend the money, not so much. Frugal simply means not wasteful, but it can be misunderstood to mean cheap. When our brand of TP is on sale, I'll use coupons, and stock up. Unless you visited and peeked into a cabinet, all seems normal. A visit to a friend's summer home taught us the value of packing a few rolls for a weekend visit into the unknown. Her cheap brand was like sandpaper and every item in her house was a strange brand I'd never heard of, including food items well beyond expiration. She took cheap to a new level. In the end, this question is less about finance than about psychology.",
"title": ""
},
{
"docid": "92fd2c253236db4d8fd3fa81d5a83dc3",
"text": "\"Unless your stinginess has reach truly compulsive levels, it should be enough to consciously remind yourself of the value of your time when you make purchase decisions or find yourself chasing minor savings. Another way might be to deliberately give yourself a monthly or weekly budget that you're allowed to \"\"waste\"\" on luxuries and conveniences without worrying.\"",
"title": ""
},
{
"docid": "0f51942b94ba5b0697aad3dd292cdba5",
"text": "There was a study last year -- it was all over the news -- that concluded that experiences, not stuff, is what makes people happy. The satisfaction from going on vacation lasts even after the holiday is long over. That new gadget only gives fleeting satisfaction. To that end, I recommend splurging on the affordable luxuries that give you a better experience. For example, I'm a big believer in paying the skycap a few dollars to check my bags at the curb rather than wait in line at the airport because I HATE airports. Valet parking is another affordable luxury when the alternative is circling a busy parking lot for 15 minutes. Pay for the better seats at the show. Get a room at the nicer hotel. Eat out a bit more often. I can't imagine willingly spending hours with customer support, though. They can have my $5.",
"title": ""
},
{
"docid": "dc7a9ca4ef430454530cd472cd38ccca",
"text": "\"I agree with JoeTaxpayer's answer. The question you should be asking is not \"\"how do I spend more\"\" but \"\"how do I become happier\"\". From what you say, it may be that you could increase your happiness simply by cutting back on these aggressive attempts to save a few bucks here and there. At the same time, if you do this, on some level your personality is probably not the type that would allow to simply \"\"forget it\"\". I think many frugal people are somewhat as you describe: they don't like wasting money. In such cases, often what matters is not so much the actual saving money as the feeling of saving money. Therefore, I'd suggest that you take a look at which of the \"\"money-losing\"\" activities you mention are really worth it. The easiest ones to drop would be things like the home-improvement project, which even you acknowledge does not save you money. If you like saving money, give yourself a pat on the back when you hire the contractor. If you want, run the numbers so you can \"\"prove\"\" to yourself how much money you are saving by not doing the work. For some of the other things, it may be that spending time to save a small amount can \"\"gamify\"\" an everyday experience and make it more interesting. For instance, comparing products to save a few bucks is not necessarily bad unless you actually don't like doing it. If spending a few hours comparing two toaster ovens on Amazon or whatever makes you feel good, go for it; it's no worse than spending a few hours watching TV. By acknowledging that you get something out of it --- the feeling of getting a bargain --- and savoring that, you can feel better about, and also potentially \"\"get it out of your system\"\" so that you won't feel the need to do it for every little thing. We all have our little pet obsessions, and it's possible to acknowledge that they're irrational, while still accepting them as part of your personality, and finding a way to satisfy them in a controlled manner that doesn't stress you out too much.\"",
"title": ""
},
{
"docid": "704b2bcb28d2999847a056b205a74490",
"text": "Do you plan a monthly budget at the beginning of each month? This might seem counter-intuitive, but hear me out. Doing a budget is, of course, critically important for those who struggle with having enough money to last the month. Having this written spending plan allows people struggling with finances to control their spending and funnel money into debt reduction or saving goals. However, budgeting can also help those with the opposite problem. There are some, like you perhaps, that have enough income and live frugally enough that they don't have to budget. Their money comes in, and they spend so little that the bank account grows automatically. It sounds like a good problem to have, but your finances are still out of control, just in a different way. Perhaps you are underspending simply because you don't know if you will have enough money to last or not. By making a spending plan, you set aside money each month for various categories in three broad areas: Since you have plenty of money coming in, generously fund these spending categories. As long as you have money in the categories when you go to the store, you can feel comfortable splurging a little, because you know that your other categories are funded and the money is there to pay those other bills. Create other categories, such as technology or home improvement, and when you need an app or have a home improvement project, you can confidently spend this money, as it has already been allocated for those purposes. If you are new to budgeting, software such as YNAB can make it much easier.",
"title": ""
},
{
"docid": "4cae8238f6e26c4d379e57e9b1da0a6c",
"text": "How much is your time worth This has been useful for me, judging things based on how much their time value is worth to me, weighted more heavily than their actual worth. For instance, there was a time when I used to work on the weekends and pay to have my laundry done. Doing the laundry myself would have cost 25 cents, but taken two hours at least. Since I was making $45 an hour, I would have lost $90 dollars by doing my laundry, instead of paying specialists $28 to do it for me, much better than I would. Your own capital should begin growing at a rate that makes many MANY things worth less than the time it takes for you to entertain it. So in your cable bill example, you shouldn't have argued for a $5 credit for two hours, unless you make $2.25 an hour, after tax. This is simplistic, as you would extrapolate how much this would cost you over a year or two, but such cost benefit analysis' become easy with this simple concept. This can also be used to rationalize your lavish expenditures. Such as not really comparing the costs for a flight, because its a 2 hour flight for $400 and you've found yourself making at least $200 an hour with your $416,000 annual earnings and capital gains. This will cure your frugality while retaining safe guards on your spending.",
"title": ""
},
{
"docid": "8b0b1662223cd3d9bf0a33e0ed7541c2",
"text": "\"It took me a very longtime to learn that I no longer need to live like a starving student... and even now I live like a well-off student. And that's OK -- my needs and tastes are mostly simple. There's no reason to spend just for the sake of spending... but if you want something, and really can afford it after setting aside savings for retirement and emergency funds and basic operating capital, go for it. It may help to pick out a specific thing you want, or want to replace. My \"\"rules\"\" used to say that i was always allowed to spend money on books, music, and needed tools. Then i convinced myself that shelves are tools for storing other things. And that furniture is shelving for people. And that art, if it really speaks to me, is akin to books. And that a decent instrument is a tool. And that my time has value, so sometimes it's less expensive in real term to throw money at a problem rather than scheduling my life around it. One step at a time, with all the steps making sense. I will still spend entirely too long agonizing over minor purchases, at times -- but that's about convincing myself that I like the choice I'm making, not about the price per se. Meanwhile, saving means you can buy things later without having to borrow. The semi-student routine , and waiting until i was ready to buy,is why i had the value of a house in my investments when i was ready to buy one. And is why I'm almost at my target number for retirement well before my planned retirement date. One other thought: if you're comfortable buying gifts for others but don't tend to spend on yourself, you aren't a miser -- just frugal.\"",
"title": ""
},
{
"docid": "b5b718c8aa9240615207dfbafc883209",
"text": "\"@pyb is right - you should put an hourly dollar value on your time. Calculate a realistic number and keep it in the back of your mind. Then when you're looking for a discount or a saving, estimate the maximum amount that you'd be able to save. This should be a realistic proportion of the value of the item. From those figures you can get the maximum amount of time that you should spend on looking for that discount. Spend any more than that amount of time and you lose money even if you get the discount. So then you can end up with a few rules-of-thumb like \"\"don't spend more than x minutes of time per dollar of possible savings\"\". Then you can spend the spare time you've created on looking for savings on big-ticket items where the time is more efficiently used... or on studying to upgrade your earning potential... or on taking some time out to enjoy the world and sniff the flowers. :)\"",
"title": ""
},
{
"docid": "7aecd12e2a8444b2412e51189811e120",
"text": "here is what I have learned with multiple close encounters with bankruptcies: ask yourself.. what if I save vs what if I spend? say you like a new shirt.. ask yourself what can you do saving $40 vs rewarding yourself/your well wishers right away? you will end up spending. just like you the other person needs money. he/she is doing a work. ask yourself what if you are in his/her situation. you would obviously want others to be happy. so spend. I think these two should be good. I must add that you should NOT be wasteful. Eg.. buying a handmade shoes vs corporation made shoes? choose handmade one because it fits above two. buying a corporate one would be more polluting and less rewarding because you just gave your money to someone who already has lots and cares least about you. in what way are you saying mortgage is good? I see that as a waste. you can pay back your mortgage only when someone takes even bigger mortgage (check with some maths before refuting)... in other words you have taken part in ponzi scheme.! I would suggest making a house vs buying one is better spending. finally spending is a best saving.. don't forget that you are getting money only because someone is spending wisely. stop feeding your money to corporates and interests and everyone will have plenty to spend.",
"title": ""
},
{
"docid": "788e18ecb887a339b6a0a0762d831ea6",
"text": "\"People who choose \"\"good enough\"\" (satisficers) tend to be happier than people who choose \"\"the best\"\" (maximizers), see link. So decide you want to be a satisficer for most decisions, and then work at it: deliberately limit the amount of time you spend on a small decision, and celebrate a non-optimal decision. Decide to be good to yourself, and say it out loud. Practice the skill.\"",
"title": ""
},
{
"docid": "8fb6e3debf2ba6d6256e111b8ef715e8",
"text": "Hehe, I feel your pain.. well, 'pain' isn't really the feeling though is it. I was unemployed for several years when I was younger, and I loved it. It taught me 2 things: you need to be careful with your money, and you don't need money to be happy. I loved the freedom, the carefree attitude I had to the world, the ability to do many things not constrained by having to spend all day in an office, to be with my mates a lot. If your problem is that you are being too miserly ($3 researching better product... we all do that, though not for $3 except on ebay sometimes) then put a cost on your time. If it took you 3 hours to research the $3 saving, and your time is worth even just $10 an hour to you, then you've not saved anything. You've wasted 'money'. If, on the other hand, you're more worried about hoarding money and being unproductive and a bad social citizen, get involved in investing it instead. Let someone else put it to good use, whilst giving you some return.",
"title": ""
},
{
"docid": "6dab7f6b4d91e503bbe9c02fa010cb66",
"text": "\"Ultimately, money derives its value from being spend on a good or service. Investing it is an act of denying your present-self a good or service so that your future-self can obtain (hopefully more) goods or services. Investing is a sensible and responsible default position, but you clearly have passed the point at which the opportunity cost of the dollar not spent today is greater than its benefit in the future. Not all dollars are the same. Remember that money is a temporary store of value but you have to spend it to realize that value. In your search, learn about the \"\"psychology of money.\"\" What are you saving it for? How much do you want left over when you die? If you die tomorrow, will you regret not having spend a little more? I'm sorry to get morbid on you, but saving for the future requires answering the question \"\"How long?\"\" and it's never forever. This may be tangential but it shaped my behaviour towards money nonetheless: Frank Zimbardo on The Psychology of Time. I would hazard a guess and say that you land in the future-oriented camp.\"",
"title": ""
},
{
"docid": "cff924bf336b0d314c3779c3ee756c30",
"text": "Time is money. If those hours spent researching to save $3 made you a better profit than you would have otherwise had buying the more expensive product and using the rest of the time to make more than $3, then you came out on top. If you consider this general premise in every spending decision you make, you should always feel that you made the right choice.",
"title": ""
},
{
"docid": "e98e750e46a00a99b67ba8e983c4bb3d",
"text": "Maybe minimalism is an option for you. Make your self clear what you really want You only buy what you really need and for that you spend the money. Then there is no point of saving money, i.e. I for example like to invite friends and cook them some fancy diner with expensive products, but the value I get from that exceeds any money I spend. On the other hand most present are the opposite, they have less value to recipient than what they originally have costs.",
"title": ""
}
] | [
{
"docid": "5a709748c1e96a752fe134116569609c",
"text": "\"In these situations, one solution is to use the \"\"I was just about to ask you the same thing...\"\" response. This is kind of a famous way to deal with people asking you for money, whether it's someone asking to borrow \"\"$10 at lunch time\"\" or \"\"$3000 for a car\"\" or the like. So: Person X asks you for money, say $2000. Your reply: Ah, that's bad luck, I was just about to ask you the same thing... Follow this immediately - just keep talking - by launching in to a really incredibly detailed discussion of why you need to borrow money (pick a slightly larger amount, slet's ay $3500). Just \"\"keep talking\"\" and don't let the other person get a word in. Go in to great detail about just what you need the $3500 for and why. It's a good trick.\"",
"title": ""
},
{
"docid": "7601e04f3bc71c067101f24687e82a63",
"text": "Track your expenses. Find out where your money is going, and target areas where you can reduce expenses. Some examples: I was spending a lot on food, buying too much packaged food, and eating out too much. So I started cooking from scratch more and eating out less. Now, even though I buy expensive organic produce, imported cheese, and grass-fed beef, I'm spending half of what I used to spend on food. It could be better. I could cut back on meat and eat out even less. I'm working on it. I was buying a ton of books and random impulsive crap off of Amazon. So I no longer let myself buy things right away. I put stuff on my wish list if I want it, and every couple of months I go on there and buy myself a couple of things off my wishlist. I usually end up realizing that some of the stuff on there isn't something I want that badly after all, so I just delete it from my wishlist. I replaced my 11-year-old Jeep SUV with an 11-year-old Saturn sedan that gets twice the gas mileage. That saves me almost $200/month in gasoline costs alone. I had cable internet through Comcast, even though I don't have a TV. So I went from a $70/month cable bill to a $35/month DSL bill, which cut my internet costs in half. I have an iPhone and my bill for that is $85/month. That's insane, with how little I talk on the phone and send text messages. Once it goes out of contract, I plan to replace it with a cheap phone, possibly a pre-paid. That should cut my phone expenses in half, or even less. I'll keep my iPhone, and just use it when wifi is available (which is almost everywhere these days).",
"title": ""
},
{
"docid": "51f990657b459bb34ba495a7383ccfe3",
"text": "To me the key is a budget. Each month, before it begins, decide on what to spend on each dollar that you earn. Money should be allotted for normal expenses such as housing, food, transportation, and utilities. If you have any consumer debt that should be a priority. Extra money should go to eliminate that debt. There should be money allotted to savings goals (such as retirement, home down payment, or vacation home). Also there should be money set aside for clothing and giving. Giving is an important part and often overlooked part of wealth creation. Somewhere in there you should also give yourself a bit of free money. For example one of the things I spend my free money on is coffee. I buy freshly ground coffee from a really good supplier. It is a bit expensive, but that is okay as it does not preclude me from meeting other goals. If you still have money left after all of that increase your giving some, your savings some, and your free money some. You can then spend that money without guilt. If your budget includes $100 of free money per month, and you want something that costs $1000, save up the $1,000 and then buy it. Do not borrow to buy free money stuff! Doing those sorts of things will make you weigh purchasing decisions very carefully. If you find that you cannot stick to a budget, you should enlist a friend to be your accountability partner. They have to be very good with money.",
"title": ""
},
{
"docid": "7c7dbf0512932aa995f8d4924466f134",
"text": "\"Here's what I suggest... A few years ago, I got a chunk of change. Not from an inheritance, but stock options in a company that was taken private. We'd already been investing by that point. But what I did: 1. I took my time. 2. I set aside a chunk of it (maybe a quarter) for taxes. you shouldn't have this problem. 3. I set aside a chunk for home renovations. 4. I set aside a chunk for kids college fund 5. I set aside a chunk for paying off the house 6. I set aside a chunk to spend later 7. I invested a chunk. A small chunk directly in single stocks, a small chunk in muni bonds, but most just in Mutual Funds. I'm still spending that \"\"spend later\"\" chunk. It's about 10 years later, and this summer it's home maintenance and a new car... all, I figure it, coming out of some of that money I'd set aside for \"\"future spending.\"\"\"",
"title": ""
},
{
"docid": "3d4199c0128572c50ece971a7a9078e1",
"text": "\"If you're looking for an analogy or exercise, I saw a personal finance show that had people climb stairs, with the debt as weight. Every flight of stairs more \"\"interest\"\" and loans to cover income gaps have to be added to the total debt they carry up the stairs. Can't find the video online though. But I think you need to ask your brother what he thinks his problem is, that will be solved with more loans. It's likely that your brother's problem can't be solved with advice. Since he's not spending rationally, rational arguments have no sway. I suspect he'll tell you his problem is one or two angry creditors, perhaps even ones you don't know about, rather than a fundamental imbalance between income and expenses. Robbing Peter to pay Paul, or moving weights from one backpack compartment to another, doesn't solve the underlying problems. Whatever you do, another loan from you should be off the table. He's an adult now, with problems the size of which you can't help with. We both know how his story ends: all creditors cut him off, and he's in court over garnished wages and creditors fighting over his assets. Reality is the only argument that will have any sway. He's far too personally invested in his scheme to admit defeat, which is why neither words not images nor moving pictures will help him with this learning disability.\"",
"title": ""
},
{
"docid": "125affbda803ce37568e01e5254d56ba",
"text": "\"Its really, really good of you to admit your short comings with a desire to improve them. It takes courage. Keep in mind that most of us that answer questions here are really \"\"good at money\"\" so we have a hard time relating. Would you want people that are bad with money answering questions on a personal finance site? While it is intimidating you will need a budget. A budget is simply a plan for how to spend your money. Your budget, based on your new pay frequency, will likely also need some cash flow planning as a single paycheck is unlikely to cover your largest expenses. For example your rent/mortgage might be less than a single paycheck so you will have to save money from the previous paycheck to have enough money to pay it. Your best bet is to have a friend or relative that is good with money help you setup a budget. Do you have one? If not you might inquire about a church or organization that offers Financial Peace University. The teachers of the class often help people setup a budget and might be willing to do so for you. You could also take the class which will improve your money management skills. For $100 you'll have a lifetime pass to the class. If it helps you avoid three late charges/bounce checks then the class is well worth it. Now as far as spending too much money. I would recommend cash, but you have to do it the right way. Here is the process that you have to follow to be successful with cash: Doing cash will give you a more concrete example of what spending means. It won't work if you continue to hit the ATM \"\"for just $20 more\"\". It will take you a bit to get used to it, but you will be surprised how quickly you improve at managing money.\"",
"title": ""
},
{
"docid": "a816d89279fc582023e15c450eb92628",
"text": "\"There's plenty of advice out there about how to set up a budget or track your expenses or \"\"pay yourself first\"\". This is all great advice but sometimes the hardest part is just getting in the right frugal mindset. Here's a couple tricks on how I did it. Put yourself through a \"\"budget fire drill\"\" If you've never set a budget for yourself, you don't necessarily need to do that here... just live as though you had lost your job and savings through some imaginary catastrophe and live on the bare minimum for at least a month. Treat every dollar as though you only had a few left. Clip coupons, stop dining out, eat rice and beans, bike or car pool to work... whatever means possible to cut costs. If you're really into it, you can cancel your cable/Netflix/wine of the month bills and see how much you really miss them. This exercise will get you used to resisting impulse buys and train you to live through an actual financial disaster. There's also a bit of a game element here in that you can shoot for a \"\"high score\"\"... the difference between the monthly expenditures for your fire drill and the previous month. Understand the power of compound interest. Sit down with Excel and run some numbers for how your net worth will change long term if you saved more and paid down debt sooner. It will give you some realistic sense of the power of compound interest in terms that relate to your specific situation. Start simple... pick your top 10 recent non-essential purchases and calculate how much that would be worth if you had invested that money in the stock market earning 8% over the next thirty years. Then visualize your present self sneaking up to your future self and stealing that much money right out of your own wallet. When I did that, it really resonated with me and made me think about how every dollar I spent on something non-essential was a kick to the crotch of poor old future me.\"",
"title": ""
},
{
"docid": "2fc79b65310eb6cba590a08089bf4016",
"text": "Try the Envelope Budgeting System. It is a pretty good system for managing your discretionary outflows. Also, be sure to pay yourself first. That means treat savings like an expense (mortgage, utilities, etc.) not an account you put money in when you have some left over. The problem is you NEVER seem to have anything leftover because most people's lifestyle adjusts to fit their income. The best way to do this is have the money automatically drafted each month without any action required on your part. An employer sponsored 401K is a great way to do this.",
"title": ""
},
{
"docid": "f95098e67fcd7635e3e6cf608ddf168c",
"text": "\"First of all, I have to recognize up front that my \"\"spending personality\"\" is frugal. I don't recreational shop, and I save a lot of my total income. Building a budget and sticking to it is difficult, especially for people who are closer to living paycheck to paycheck than I. Theoretically, it should be easy to stick to a budget by overestimating expenses, but for many people planning to spend more than necessary isn't a luxury available. That said, I have a system that works for me, maybe it can work for you. This system lets me see how much I have to spend, and close to optimally arranges assets. As you can see, this system relies on some pretty strong upfront planning and adherence to the plan. And what you might not realize is that you can deviate from the plan in two ways: by spending variations and by timing variations. Credit should really help with a lot of the timing variations; it takes a series of expenses and translates them into one lump payment every month. As for spending variations, like spending 20 dollars for lunch when you only budgeted 5, it turns out this technique helps a lot. Some academic work suggests that spending with plastic is more likely to blow your budget than cash, unless you make detailed plans. But it sounds like your main problem is knowing whether you can afford to splurge. And the future minimum balance of your checking account can be your splurge number.\"",
"title": ""
},
{
"docid": "8aae546b5470c00e9891756d61c392a0",
"text": "\"Great question. There are two ways to increase the amount of money you have: It's difficult to decrease your expenses past a certain point, and your question is focused on the first aspect anyway. But it's worth noting that controlling spending is a significant part of accumulating wealth. You need to make more money, and there's no trick to it. Ask for a raise, sure, that can't hurt. But also think about what you need to do to get a higher-paying job. There's a lot to think about: Does you current job have growth potential? Are you doing everything you can do to maximize that potential? If you're just phoning it in and collecting your paycheck, that's not going to make you much more money. But if you're working hard, learning new skills, and have an opportunity to grow into more responsibilities and more money, that's a good start. In my experience, the biggest paycheck increases have come from looking for new opportunities and switching jobs. (BTW, I'm not suggesting quitting your job. You need to always have the new job locked up before quitting the old job!) The wealthiest people I know are self-employed, and they worked hard to build up their companies. Do you work in an industry where you can build your skills to a point where you can go out on your own? Does entrepreneurship interest you? Either way, focus on your job, skills, and maximizing your income potential. Be your own advocate. Make sure your boss knows what a good job you're doing. If you need to start looking for other options, take your time and start looking. The often-quoted line, \"\"the harder I work, the luckier I get\"\" is appropriate.\"",
"title": ""
},
{
"docid": "5c857568e16c52860e638a12be35abfa",
"text": "\"Keep track of everything you buy. Write it down and be accountable. Try not to buy anything on credit cards, if the money is not in your account now then you can't afford it. Ask yourself whether what you're buying is a \"\"need\"\" or a \"\"want\"\". If you find that you are buying things because you are bored and you like shopping then try taking up a (cheap) hobby that fills that void and is something you enjoy doing.\"",
"title": ""
},
{
"docid": "3d05671fdb3c36883abcde29fd83fabc",
"text": "I make it a habit at the end of every day to think about how much money I spent in total that day, being mindful of what was essential and wasn't. I know that I might have spent $20 on a haircut (essential), $40 on groceries (essential) and $30 on eating out (not essential). Then I realize that I could have just spent $60 instead of $90. This habit, combined with the general attitude that it's better to have not spent some mone than to have spent some money, has been pretty effective for me to bring down my monthly spending. I guess this requires more motivation than the other more-involved techniques given here. You have to really want to reduce your spending. I found motivation easy to come by because I was spending a lot and I'm still looking for a job, so I have no sources of income. But it's worked really well so far.",
"title": ""
},
{
"docid": "9f74e0f2510e2c556ac7aaa5dbe9e819",
"text": "\"If you are just barely scraping by on your current income, then you shouldn't be thinking about buying a car or house unless you can present (at least to yourself) clear evidence that doing so will actually lower your monthly expenses. Yes, there are times when even buying depreciating assets such as a car can lower your expenses, but you need to think hard about whether that is the case or if it is just something you want to get because you feel you \"\"should\"\". Remember the old adage that rich people buy themselves income streams (investments that either earn money or reduce expenses), while poor people buy expenses. If you are in the situation of barely scraping by on your current income, then the first step in my mind is to find out exactly what you are spending your money on (do this for a month or two, and then try to include non-regular or rarely-occuring bills such as subscriptions, insurance, perhaps utilities, and so on). Once you know where your money is going right now, outline that in a budget. At this point, you aren't judging your spending, but rather simply looking at the facts. Once you have a decent idea of where your money is going, only then try to think about what you can cut back on. Some things will be easier than others to change (it's much easier to cancel a premium TV channels package than to move to cheaper living quarters, for example, although in some cases simply picking the low-hanging fruit alone won't help you). Make a revised budget for the next month based on the new numbers, and try to live by it. Keep writing down what you actually spend your money on, then rinse and repeat. (Of course, you can make a budget for whatever period of time works for you; if you get paid every two weeks, budgeting per two weeks might be easier than budgeting per month.) The bottom line is that a budget is useless without a follow-up process to see how well your spending actually matches the budgeted amounts, so you need to spend some time following up on it and making adjustments. No budget will ever match reality exactly; think of the budget as a map, not a footstep-by-footstep guide for getting from A to B. When you find some wiggle room in your budget (for example, let's say you decide to cancel the premium TV channels package you got some time ago because it turns out you aren't watching much TV anyway), don't put that money into a \"\"discretionary spending\"\" category. There is an old rule in personal finance that says pay yourself first. If you are able to find $5/month of wiggle room, put it into savings of some kind. If you are unsure what kind of savings vehicle you should use, I'd suggest starting off with a simple savings account; it certainly won't earn you a great return (you'll be lucky if you can keep up with inflation), but it will get you into the habit of saving which at this point is a lot more important. And make that savings transfer as soon as the money hits your account. If you can, get the depositor to put a portion of your income directly into the savings account; if you cannot, make the transfer yourself immediately afterwards. And try to force yourself to live with the money that's left, not touching the savings account. Ideally, you should save a decent fraction of your income - I've seen figures everywhere from 10% to 25% of your after-tax income recommended by various people - and start out by budgeting that to savings and then working with whatever is left. In practice, saving anything and putting the money anywhere is much better than saving nothing. Just make sure that the savings are liquid (easy to convert to cash and withdraw without a penalty, should the need arise), set up a regular bank transfer for whatever amount you can find in that budget, and try to forget about it until you get the bank statement for the savings account and get that warm, fuzzy feeling for actually having a decent amount of money set aside should something ever happen making you need it. Then, later, you can decide whether to use the money to buy a car, start a company, take early retirement, or something entirely different. Having the money will give you the options, and you can decide what is more important to you yourself. Just keep on saving.\"",
"title": ""
},
{
"docid": "a6fed25c052bb6f17e2cefe0c453afae",
"text": "\"Make a list of all your expenses. I use an Excel spreadsheet but you can do it on the back of a napkin if you prefer. List fixed expenses, like rent, loan payments, insurance, etc. I include giving to church and charity as fixed expenses, but of course that's up to you. List regular but not fixed expenses, like food, heat and electricity, gas, etc. Come up with reasonable average or typical values for these. Keep records for at least a few months so you're not just guessing. (Though remember that some will vary with the season: presumably you spend a lot more on heat in the winter than in the summer, etc.) You should budget to put something into savings and retirement. If you're young and just starting out, it's easy to decide to postpone retirement savings. But the sooner you start, the more the money will add up. Even if you can't put away a lot, try to put away SOMETHING. And if you budget for it, you should just get used to not having this money to play with. Then total all this up and compare to your income. If the total is more than your income, you have a problem! You need to find a way to cut some expenses. I won't go any further with that thought -- that's another subject. Hopefully you have some money left over after paying all the regular expenses. That's what you have to play with for entertainment and other non-essentials. Make a schedule for paying your bills. I get paid twice a month, and so I pay most of my bills when I get a paycheck. I have some bills that I allocate to the first check of the month and some to the second, for others, whatever bills came in since my last check, I pay with the current check. I have it arranged so each check is big enough to pay all the bills that come from that check. If you can't do that, if you'll have a surplus from one check and a shortage from the next, then be sure to put money aside from the surplus check to cover the bills you'll pay at the next pay period. Always pay your bills before you spend money on entertainment. Always have a plan to pay your bills. Don't say, \"\"oh, I'll come up with the money somehow\"\". If you have debt -- student loans, car loans, etc -- have a plan to pay it off. One of the most common traps people fall into is saying, \"\"I really need to get out of debt. And I'm going to start paying off my debt. Next month, because this month I really want to buy this way cool toy.\"\" They put off getting out of debt until they have frittered away huge amounts of money on interest. Or worse, they keep accumulating new debt until they can't even pay the interest.\"",
"title": ""
},
{
"docid": "948a4f5649ea7e6eff5c881e7c1a1db5",
"text": "\"I think the real problem here is dealing with the variable income. The envelope solution suggests the problem is that your brother doesn't have the discipline to avoid spending all his money immediately, but maybe that's not it. Maybe he could regulate his expenses just fine, but with such a variable income, he can't settle into a \"\"normal\"\" spending pattern. Without any savings, any budget would have to be based on the worst possible income for a month. This isn't a great: it means a poor quality of life. And what do you do with the extra money in the better-than-worst months? While it's easy to say \"\"plan for the worst, then when it's better, save that money\"\", that's just not going to happen. No one will want to live at their worst-case standard of living all the time. Someone would have to be a real miser to have the discipline to not use that extra money for something. You can say to save it for emergencies or unexpected events, but there's always a way to rationalize spending it. \"\"I'm a musician, so this new guitar is a necessary business expense!\"\" Or maybe the car is broken. Surely this is a necessary expense! But, do you buy a $1000 car or a $20000 car? There's always a way to rationalize what's necessary, but it doesn't change financial reality. With a highly variable income, he will need some cash saved up to fill in the bad months, which is replenished in the good months. For success, you need a reasonable plan for making that happen: one that includes provisions for spending it other than \"\"please try not to spend it\"\". I would suggest tracking income accurately for several months. Then you will have a real number (not a guess) of what an average month is. Then, you can budget on that. You will also have real numbers that allow you to calculate how long the bad stretches are, and thus determine how much cash reserve is necessary to make the odds of going broke in a bad period unlikely. Having that, you can make a budget based on average income, which should have some allowance for enjoying life. Of course initially the cash reserve doesn't exist, but knowing exactly what will happen when it does provides a good motivation for building the reserve rather than spending it today. Knowing that the budget includes rules for spending the reserves reduces the incentive to cheat. Of course, the eventual budget should also include provisions for long term savings for retirement, medical expenses, car maintenance, etc. You can do the envelope thing if that's helpful. The point here is to solve the problem of the variable income, so you can have an average income that doesn't result in a budget that delivers a soul crushing decrease in quality of living.\"",
"title": ""
}
] | fiqa |
f4c67b739447402d4d02974ecff8b479 | I can make a budget, but how can I get myself to consistently follow my budget? | [
{
"docid": "ea110e3330ecf1ddb56cd735fa77b2e7",
"text": "It's simple, really: Practice. Fiscal responsibility is not a trick you can learn look up on Google, or a service you can buy from your accountant. Being responsible with your money is a skill that is learned over a lifetime. The only way to get better at it is to practice, and not get discouraged when you make mistakes.",
"title": ""
},
{
"docid": "fc26d4a800bea172012b60ec4364dd83",
"text": "Do a monthly budget, unique to each month, before the month begins, spend all of your money on paper. Use envelopes to help you keep track of how much you have left for things you buy throughout the month. Have separate envelopes for things like groceries, restaurants, clothing, entertainment. Put the amount of money for each category in cash in the envelope. Only spend the money out of the correct envelope and don't mix and mingle between envelopes. Pay in cash, with real money. Don't use credit or debit cards, it's proven you spend more when you are not paying with cash.",
"title": ""
},
{
"docid": "b0d57edd6481ac8cd3517bceeb8db84f",
"text": "Switch to cash for a few months. No debit. No credit. This will help for two reasons: Once you've broken the bad habits, you should be able to go back to cards for the convenience factor.",
"title": ""
},
{
"docid": "01c34c67ef1e385edd7fdbd7e386c68b",
"text": "To me, this question is really about setting and meeting goals. The process is the same, whether it's about exercising regularly, or saving, or whatever. You need to have clear, personally-relevant reasons for doing something. Write down: Exactly why you want to save. It may seem trivial, but if you can't visualize the prize it's hard to stay motivated. How much can you afford to save? Use something like Mint.com to find out your real monthly expenses, as opposed to what you think you're spending. Also, don't get overzealous... leave yourself some money for small luxuries and unexpected expenses so you don't feel like a miser. Saving should be a joy, not torture. Automate the saving process. Set up an automatic transfer to move the amount you figured out in step 2 to your savings account on the same date you get paid. This is very important. By saving early you ensure there will be enough money to save. If you wait until the end of the month, there will usually not be anything left. Don't you dare touch your savings! (Except in a real emergency) If you must dip into your savings, immediately create a plan to put it back as soon as possible. Also, get into the habit of reading personal finance books, blogs, sites, etc. I recommend authors like Robert Kiyosaki, and Suze Orman. Good luck!",
"title": ""
},
{
"docid": "c668d3a4429681f812c7848d87460a9f",
"text": "And remember, there's nobody but you that can do it - so the most important tool here is your determination and persistence.",
"title": ""
},
{
"docid": "2875ee4dbff21e3450c8336481610906",
"text": "Try a tool like mint.com that will send you text messages regarding how you budget is going. If you use mint, set up your budget to send you reminders before you hit your budget. Example: if my budget for dining out is $100, I tell mint.com it is $50 and I get nagging text messages after $50 to remind me to keep a lid on my spending.",
"title": ""
},
{
"docid": "a53ee48d84bb304083c4430f06ee1fd4",
"text": "Assuming what is taking you over budget are not essential costs such as fuel bills, food, mortgage etc. you could do the following. Work out your monthly disposable income after all essential base costs have been sutracted. Then simply keep a book of any additional spending. It will be very easy to see if you're at risk of overspending. In fact, even when one has no need to budget it's still an excellent idea to keep a book of all your spending. It's surprising how useful it can be. It's a great reference for dues dates, sizes of past bills and provides an excellent cross check of your bank statement. It's not often that you find an error on your bank statement (at least it shouldn't be!), but my books have helped me locate three such errors over the past 25 years, which I'm sure would have gone unnoticed by most people. So my advice is, keep a book of your spending.",
"title": ""
},
{
"docid": "a43e5d9780dcffd4e67f0f7a5daccd3c",
"text": "Plan all your needs and put priority based on need & urgency. New Habit: Rethink. Rethink. Rethink. whenever your going to buy something. rethink before going to buy. remember what is your priority one than that and will this affect on your plans. if that affect, than dont buy. Lets leave it to that habit, that will take care of your budget yar.............",
"title": ""
},
{
"docid": "088580c45a50a56416efa893fd9b5a5d",
"text": "Give all your money as well as your budget requirements to someone you really trust. Tell them to give you ONLY what your budget allows. As long as both of you take this seriously, this method will be very effective.",
"title": ""
},
{
"docid": "8077fb104b14e35396cc6e7f9480d700",
"text": "Lazy man's budget. Four separate accounts for timing of expenses: short (monthly; utilities etc.), medium (quarterly+; property taxes), long (yearly+; house improvements) and retirement. Set target levels for each account, to cover 1 full cycle. The short target is smallest; it should comfortably cover a month. For me each target is about 10x larger than the last. (Cycles & targets for a homeowner w/ family; YMMV). All income goes in short term. When an account gets above target level, the excess gets swept up to the next longer term account. That's all I keep firm track of; takes just a few minutes a month. Watching the account balances vs. their targets (and how short some of them are of target) keeps me focused on spending, and thinking about how much I can sweep (or can't) next paycheck.",
"title": ""
}
] | [
{
"docid": "6d51479ea79b40327b9583dc739fd24e",
"text": "Personal finances are not intuitive for everyone, and it can be a challenge to know what to do when you haven't been taught. Congratulations on recognizing that you need to make a change. The first step that I would recommend is what you've already done: Assemble your bank statements so you can get an accurate picture of what money you currently have. Keep organized folders so you can find your bank statements when you need them. In addition to the bank statements for your checking and savings accounts, you also need to assess any debt that you have. Have you taken out any loans that need to be paid back? Do you have any credit card debt? Make a list of all your debts, and make sure that you have folders for these statements as well. Hopefully, you don't have any debts. But if you are like most people, you owe money to someone, and you may even owe more money than you currently have in your bank accounts. If you have debts, fixing this problem will be one of your goals. No matter what your debt is, you need to make sure that from now on, you don't spend more money than you take in as income. To do this, you need to make a budget. A budget is a plan for spending your money. To get started with a budget, make a list of all the income you will receive this month. Add it up, and write that amount at the top of a page. Next, you want to make a list of all the expenses you will have this month. Some of these expenses are more or less fixed: rent, utility bills, etc. Write those down first. Some of the expenses you have more control over, such as food and entertainment. Give yourself some money to spend on each of these. You may also have some larger expenses that will happen in the future, such as a tuition or insurance payment. Allocate some money to those, so that by the time that payment comes around, you will have saved enough to pay for those expenses. If you find that you don't have enough income to cover all of your expenses in a month, you need to either reduce your expenses somewhere or increase your income until your budget is at a point where you have money left over at the end of each month. After you've gotten to this point, the next step is figuring out what to do with that extra money left over. This is where your goals come into play. If you have debt, I recommend that one of your first goals is to eliminate that debt as fast as possible. If you have no money saved, you should make one of your goals saving some money as an emergency fund. See the question Oversimplify it for me: the correct order of investing for some ideas on what order you should place your goals. Doing the budget and tracking all of your spending on paper is possible, but many people find that using the right software to help you do this is much easier. I have written before on choosing budgeting software. All of the budgeting software packages I mentioned in that post are from the U.S., but many of them can successfully be used in Europe. YNAB, the program I use, even has an unofficial German users community that you might find useful. One of the things that budgeting software will help you with is the process of reconciling your bank statements. This is where you go through the bank statement each month and compare it to your own record of spending transactions in your budget. If there are any transactions that appear in the statement that you don't have recorded, you need to figure out why. Either it is an expense that you forgot to record, or it is a charge that you did not make. Record it if it is legitimate, or dispute the expense if it is fraudulent. For more information, look around at some of the questions tagged budget. I also recommend the book The Total Money Makeover by Dave Ramsey, which will provide more help in making a budget and getting out of debt.",
"title": ""
},
{
"docid": "af8082def21f44a1b9f418f3c16c3302",
"text": "\"Trying to figure out how much money you have available each day sounds like you're making this more complicated than it needs to be. Unless you're extremely tight and you're trying to squeeze by day by day, asking \"\"do I have enough cash to buy food for today?\"\" and so on, you're doing too much work. Here's what I do. I make a list of all my bills. Some are a fixed amount every month, like the mortgage and insurance premiums. Others are variable, like electric and heating bills, but still pretty predictable. Most bills are monthly, but I have a few that come less frequently, like water bills in my area come every 3 months and I have to pay property taxes twice a year. For these you have to calculate how much they cost each month. Like for the water bill, it's once every 3 months so I divide a typical bill by 3. Always round up or estimate a little high to be safe. Groceries are a little tricky because I don't buy groceries on any regular schedule, and sometimes I buy a whole bunch at once and other times just a few things. When groceries were a bigger share of my income, I kept track of what I spent for a couple of months to figure out an average per month. (Today I'm a little richer and I just think of groceries as coming from my spending money.) I allocate a percentage of my income for contributions to church and charities and count this just like bills. It's a good idea to put aside something for savings and/or paying down any outstanding loans every month. Then I add these up to say okay, here's how much I need each month to pay the bills. Subtract that from my monthly income and that's what I have for spending money. I get paid twice a month so I generally pay bills when I get paid. For most bills the due date is far enough ahead that I can wait the maximum half a month to pay it. (Worst case the bill comes the day after I pay the bills from this paycheck.) Then I keep enough money in my checking account to, (a) Cover any bills until the next paycheck and allow for the particularly large bills; and (b) provide some cushion in case I make a mistake -- forget to record a check or make an arithmetic error or whatever; and (c) provide some cushion for short-term unexpected expenses. To be safe, (a) should be the total of your bills for a month, or as close to that as you can manage. (b) should be a couple of hundred dollars if you can manage it, more if you make a lot of mistakes. If you've calculated your expenses properly and only spend the difference, keeping enough money in the bank should fall out naturally. I think it's a lot easier to try to manage your money on a monthly basis than on a daily basis. Most of us don't spend money every day, and we spend wildly different amounts from day to day. Most days I probably spend zero, but then one day I'll buy a new TV or computer and spend hundreds. Update in response to question What I do in real life is this: To calculate my available cash to spend, I simply take the balance in my checking account -- assuming that all checks and electronic payments have cleared. My mortgage is deducted from my checking every month so I post that to my checking a month in advance. I pay a lot of things with automatic charges to a credit card these days, so my credit card bills are large and can't be ignored. So subtract my credit card balances. Subtract my reserve amount. What's left is how much I can afford to spend. So for example: Say I look at the balance in my checkbook today and it's, say, $3000. That's the balance after any checks and other transactions have cleared, and after subtracting my next mortgage payment. Then I subtract what I owe on credit cards. Let's say that was $1,200. So that leaves $1,800. I try to keep a reserve of $1,500. That's plenty to pay my routine monthly bills and leave a healthy reserve. So subtract another $1,500 leaves $300. That's how much I can spend. I could keep track of this with a spreadsheet or a database but what would that gain? The amount in my checking account is actual money. Any spreadsheet could accumulate errors and get farther and farther from accurate values. I use a spreadsheet to figure out how much spending money I should have each month, but that's just to use as a guideline. If it came to, say, $100, I wouldn't make grandiose plans about buying a new Mercedes. If it came to $5,000 a month than buying a fancy new car might be realistic. It also tells me how much I can spend without having to carefully check balances and add it up. These days I have a fair amount of spending money so when, for example, I recently decided I wanted to buy some software that cost $100 I just bought it with barely a second thought. When my spending money was more like $100 a month, lunch at a fast food place was a big event that I planned weeks in advance. (Obviously, I hope, don't get stupid about \"\"small amounts\"\". If you can easily afford $100 for an impulse purchase, that doesn't mean that you can afford $100 five times a day every day.) Two caveats: 1. It helps to have a limited number of credit cards so you can keep the balances under control. I have two credit cards I use for almost everything, so I only have two balances to keep track of. I used to have more and it got confusing, it was easy to lose track of how much I really owed, which is a set up for getting in trouble.\"",
"title": ""
},
{
"docid": "f84fc57412f24d3e53079925b3255f9d",
"text": "There are a lot of good answers above, all of them will probably work for you in some way or another. One point to note (from the procrastination theme) is that you could invest your free money that you have currently in some investment instrument which would require you to do some paperwork etc. to get out, this way the immediate cash flow is decreased and also invested. Now from each montly budget save a small amount for the things that you would like to buy. Give this small savings some months to accumulate so that you can afford only one of the items that you want to buy or target an item that you want to buy. After the money is accumulated, if you still want to buy the item, then you probably should. One point of note is that budgeting is also important on a monthly basis, Pete has provided excellent suggestion in this regard.",
"title": ""
},
{
"docid": "746c288007882dc4c832371ee62667c6",
"text": "If you are happy, really honestly happy, there is no need to change because you read it somewhere. While I believe that budgeting in some fun is smart so you don't go crazy, I am really speaking for myself. I personally have to work at not spending more than I make, so I need to blow off some steam. I also think that you will find in the future something you want to do that costs money, and you would be glad to have it now. The same rules apply for you as they apply to everybody",
"title": ""
},
{
"docid": "125affbda803ce37568e01e5254d56ba",
"text": "\"Its really, really good of you to admit your short comings with a desire to improve them. It takes courage. Keep in mind that most of us that answer questions here are really \"\"good at money\"\" so we have a hard time relating. Would you want people that are bad with money answering questions on a personal finance site? While it is intimidating you will need a budget. A budget is simply a plan for how to spend your money. Your budget, based on your new pay frequency, will likely also need some cash flow planning as a single paycheck is unlikely to cover your largest expenses. For example your rent/mortgage might be less than a single paycheck so you will have to save money from the previous paycheck to have enough money to pay it. Your best bet is to have a friend or relative that is good with money help you setup a budget. Do you have one? If not you might inquire about a church or organization that offers Financial Peace University. The teachers of the class often help people setup a budget and might be willing to do so for you. You could also take the class which will improve your money management skills. For $100 you'll have a lifetime pass to the class. If it helps you avoid three late charges/bounce checks then the class is well worth it. Now as far as spending too much money. I would recommend cash, but you have to do it the right way. Here is the process that you have to follow to be successful with cash: Doing cash will give you a more concrete example of what spending means. It won't work if you continue to hit the ATM \"\"for just $20 more\"\". It will take you a bit to get used to it, but you will be surprised how quickly you improve at managing money.\"",
"title": ""
},
{
"docid": "c6fa632a4fe912a3d78b7a6592e82079",
"text": "\"I wrote a little program one time to try to do this. I think I wrote it in Python or something. The idea was to have a list of \"\"projected expenses\"\" where each one would have things like the amount, the date of the next transaction, the frequency of the transaction, and so on. The program would then simulate time, determining when the next transaction would be, updating balances, and so on. You can actually do a very similar thing with a spreadsheet where you basically have a list of expenses that you manually paste in for each month in advance. Simply keep a running balance of each row, and make sure you don't forget any transactions that should be happening. This works great for fixed expenses, or expenses that you know how much they are going to be for the next month. If you don't know, you can estimate, for instance you can make an educated guess at how much your electric bill will be the next month (if you haven't gotten the bill yet) and you can estimate how much you will spend on fuel based on reviewing previous months and some idea of whether your usage will differ in the next month. For variable expenses I would always err on the side of a larger amount than I expected to spend. It isn't going to be possible to budget to the exact penny unless you lead a very simple life, but the extra you allocate is important to cushion unexpected and unavoidable overruns. Once you have this done for expenses against your bank account, you can see what your \"\"low water mark\"\" is for the month, or whatever time period you project out to. If this is above your minimum, then you can see how much you can safely allocate to, e.g. paying off debt. Throwing a credit card into the mix can make things a bit more predictable in the current month, especially for unpredictable amounts, but it is a bit more complicated as now you have a second account that you have to track that has to get deducted from your first account when it becomes due in the following month. I am assuming a typical card where you have something like a 25 day grace period to pay without interest along with up to 30 days after the expense before the grace period starts, depending on the relationship between your cut-off date and when the actual expense occurs.\"",
"title": ""
},
{
"docid": "e0a620436e35d216e35a782796cfbe11",
"text": "\"The key to this is budgeting. Without a budget, you don't know what you are spending your money on. Let's say you would like to go to a movie with a friend. Can you afford it? Without a budget, it is difficult to answer this question. Yes, you have enough money in your wallet, but if you don't go to the movies, you could be saving that money for a house. \"\"But,\"\" you might say to yourself, \"\"surely one movie with my friend won't prevent me from saving my $10k for my house.\"\" And you might be right, but when you add up all the movies, coffees, and other discretionary spending up, it very well could. At this point, you might be discouraged. \"\"Do I seriously need to give up every single extravagance to make this work? I don't have that kind of willpower!\"\" Luckily, here is where budgeting comes to the rescue. Budgeting is simply a plan for your money. You have some monthly expenses that are more or less fixed: your rent, your utility bills, etc. You have other expenses that are not exactly fixed, but are still necessary: groceries, fuel for your car, etc. You also have longer-range expenses, such as insurance premiums that you only pay once or twice a year, but need to be accounted for. List all of these expenses, and figure out how much that comes to each month. What you have left over is available to you for other things. Next, you need to figure out how fast you want to save for this house, and balance that with the other things you might want to spend money on, such as entertainment. If you start from $0 and want to save $10k, you could do it by saving $100 a month: in a little over 8 years, you'll have your $10k. If you can increase this to $300 a month, you'll be there in less than 3 years. Now that you have a plan and everything is accounted for, very little willpower is needed. You don't need to feel guilty every time you buy coffee; if the money is there in your coffee/snacks budget, go for it. If you've got extra money for the month in your entertainment budget, take a date to the movies. Your budget allows you to spend on those things, because you have a plan in place, and are not in danger of spending your rent money or your home savings. This can all be done on paper, in Excel, or even by placing cash in different envelopes. However, it is easier to use budgeting software, such as YNAB, Mvelopes, or EveryDollar.\"",
"title": ""
},
{
"docid": "e05f9fb1d45a1fba06e958b27c614ebd",
"text": "As asked previous in the week, there is a big difference between budgeting and expense tracking. Using software, like GNUCash, allows one to track their spending. A budget is a plan, the tracking is what actually happened. I do not track expenses, although I do budget. For me, hitting financial goals is good enough of a track, without investing the time and energy into tracking every penny. One could easily criticize my method, as how can you have a good plan without continuous feedback? For me it is an example of the 80/20 principle. If I put in 20% effort into making and sticking to a budget, I will obtain 80% of the financial success that a person who devotes 100% effort into budgeting and tracking. A person with the same income and life events, who budgets and tracks, will likely be more successful that I, however, not overwhelmingly so. For me time is better spent on other endeavors. You seem to have this attitude as well, but those that do track have it as part of their path to financial success and probably view us as somewhat foolish. This is another example how personal finance is more about behavior than math.",
"title": ""
},
{
"docid": "1406719d95ff278f1cb5ba03b6d36915",
"text": "\"What you are doing is neither one. You are simply watching to make sure you don't overdraw, which itself suggests you might be living hand to mouth and not saving. Keeping track of your money and budgeting are useful tools which help people get on top of their money. Which tends to have the effect of allowing you to save. How much did you spend on groceries last month? Eating out? Gas? If you were \"\"keeping track of your money\"\", you could say immediately what you spent, and whether that is above or below average, and why. How much do you plan to spend in the next 3 months on gas, groceries, eating out? If you knew the answer to that question, then you would have a \"\"budget\"\". And if those months go by, and your budget proves to have been accurate, or educates you as to what went wrong so you can learn and fix it... then your budget is a functioning document that is helping you master your money. Certainly the more powerful of the two is the \"\"keeping track\"\", or accounting of what has happened to you so far. It's important that you keep track of every penny without letting stuff \"\"slip through the cracks\"\". Here you can use proper accounting techniques and maybe accounting software, just like businesses do where they reconcile their accounting against their bank statements and wallet cash. I shortcut that a little. I buy gift cards for McDonalds, Panera, Starbucks, etc. and buy my meals with those. That way, I only have one transaction to log, $40 - McDonalds gift card instead of a dozen little meals. It works perfectly fine since I know all that money went to fast food. A little more dangerous is that I treat wallet cash the same way, logging say two monthly entries of $100 to cash rather than 50 little transactions of left $1 tip at restaurant. This only works because cash is a tiny part of my overall expenditures - not worth accounting. If it added up to a significant part, I'd want accounting on that.\"",
"title": ""
},
{
"docid": "a816d89279fc582023e15c450eb92628",
"text": "\"There's plenty of advice out there about how to set up a budget or track your expenses or \"\"pay yourself first\"\". This is all great advice but sometimes the hardest part is just getting in the right frugal mindset. Here's a couple tricks on how I did it. Put yourself through a \"\"budget fire drill\"\" If you've never set a budget for yourself, you don't necessarily need to do that here... just live as though you had lost your job and savings through some imaginary catastrophe and live on the bare minimum for at least a month. Treat every dollar as though you only had a few left. Clip coupons, stop dining out, eat rice and beans, bike or car pool to work... whatever means possible to cut costs. If you're really into it, you can cancel your cable/Netflix/wine of the month bills and see how much you really miss them. This exercise will get you used to resisting impulse buys and train you to live through an actual financial disaster. There's also a bit of a game element here in that you can shoot for a \"\"high score\"\"... the difference between the monthly expenditures for your fire drill and the previous month. Understand the power of compound interest. Sit down with Excel and run some numbers for how your net worth will change long term if you saved more and paid down debt sooner. It will give you some realistic sense of the power of compound interest in terms that relate to your specific situation. Start simple... pick your top 10 recent non-essential purchases and calculate how much that would be worth if you had invested that money in the stock market earning 8% over the next thirty years. Then visualize your present self sneaking up to your future self and stealing that much money right out of your own wallet. When I did that, it really resonated with me and made me think about how every dollar I spent on something non-essential was a kick to the crotch of poor old future me.\"",
"title": ""
},
{
"docid": "a5ffad73cd2b4b8a5ba47181b82e005c",
"text": "\"How about the new Mastercard \"\"In Control\"\" card http://www.pivotalpayments.com/ca/industry-news/mastercard-introduces-in-control-program-to-help-consumers-budget-800077802/ You can set budgets at your bank and go between getting alerts when you go over, or completely declined if you are out of money. There are going to be obvious loop holes and slack in the system, but this system seems like a pretty neat start. Combine this with a bank account that does bill pay and you might have something to work with.\"",
"title": ""
},
{
"docid": "ec13e0b91f191cd39a8984f1b9cf65aa",
"text": "Get on a written budget at the BEGINNING of the month. If you dont write down where your money goes BEFORE you spend it, you have no way of keeping track of it. I couldn't do a thing until I got on a written budget but now that I am, I've paid off $10,000 in 7 months.",
"title": ""
},
{
"docid": "a6fed25c052bb6f17e2cefe0c453afae",
"text": "\"Make a list of all your expenses. I use an Excel spreadsheet but you can do it on the back of a napkin if you prefer. List fixed expenses, like rent, loan payments, insurance, etc. I include giving to church and charity as fixed expenses, but of course that's up to you. List regular but not fixed expenses, like food, heat and electricity, gas, etc. Come up with reasonable average or typical values for these. Keep records for at least a few months so you're not just guessing. (Though remember that some will vary with the season: presumably you spend a lot more on heat in the winter than in the summer, etc.) You should budget to put something into savings and retirement. If you're young and just starting out, it's easy to decide to postpone retirement savings. But the sooner you start, the more the money will add up. Even if you can't put away a lot, try to put away SOMETHING. And if you budget for it, you should just get used to not having this money to play with. Then total all this up and compare to your income. If the total is more than your income, you have a problem! You need to find a way to cut some expenses. I won't go any further with that thought -- that's another subject. Hopefully you have some money left over after paying all the regular expenses. That's what you have to play with for entertainment and other non-essentials. Make a schedule for paying your bills. I get paid twice a month, and so I pay most of my bills when I get a paycheck. I have some bills that I allocate to the first check of the month and some to the second, for others, whatever bills came in since my last check, I pay with the current check. I have it arranged so each check is big enough to pay all the bills that come from that check. If you can't do that, if you'll have a surplus from one check and a shortage from the next, then be sure to put money aside from the surplus check to cover the bills you'll pay at the next pay period. Always pay your bills before you spend money on entertainment. Always have a plan to pay your bills. Don't say, \"\"oh, I'll come up with the money somehow\"\". If you have debt -- student loans, car loans, etc -- have a plan to pay it off. One of the most common traps people fall into is saying, \"\"I really need to get out of debt. And I'm going to start paying off my debt. Next month, because this month I really want to buy this way cool toy.\"\" They put off getting out of debt until they have frittered away huge amounts of money on interest. Or worse, they keep accumulating new debt until they can't even pay the interest.\"",
"title": ""
},
{
"docid": "3990625113d4d472df79a83f6d924025",
"text": "I agree with the first poster- the first step is to measure your spending and put it down into raw numbers. Once you have the raw numbers, you will feel a natural inclination to improve on those numbers. Set yourself a daily target for cash / incidental expenses. It doesnt have to be a crazy target - just something you can achieve easily. Mark a 'tick' mark next to every day on the calendar that you meet that target (or spend less than the target). Gradually the momentum from the past few 'ticks' will automatically compel you to want to tick off the next day. At the end of each week, lower the target a little. You'll find that when you start measuring your expenditure, you become more aware of how you might be wasting money. All too often we just go out and buy stuff we don't need without really thinking about it.",
"title": ""
},
{
"docid": "43d013fef9929ac7a88224abd9e987c9",
"text": "Some companies like Royal Dutch Shell have multiple share classes to suit the tax regimes in Holland and the UK the A shares have dutch withholding tax applied and the B shares dont. Also some split capital investment trusts have multiple share classes http://www.trustnet.com/Education/Split.aspx?ms=1",
"title": ""
}
] | fiqa |
c7164c4485092f525788ac2fbd1e1454 | Why can't a US state default, but a EU state can? | [
{
"docid": "61bbfe419b10a8b75e647ebabeaa7088",
"text": "\"But do you know about a US state risking to go default now or in the past? In 1847 four states - Mississippi, Arkansas, Michigan, and Florida - failed to pay all or some of their debts. All of these states had issued debt to invest in banks. From the detailed source listed below: \"\"...it should be remembered that all cases of state debt repudiation, as contrasted with mere default, involved banks.\"\" Jackson had killed the federal central bank 10 years earlier and the states were trying to create their own inflationary central banks. Six other states delayed debt payments from three to six years (source, page 103, this source has more details). This is the only case I know of where US states defaulted. US cities default more frequently. I'm very confused do US single states like IOWA have debt and emits obligations on their own like Italy does in EU? Yes. Individual states can issue their own bonds. Oh, and just another little thing I would like to know, is Dollar a fiat currency too like the Euro? Yes, the US dollar is a fiat currency. I think the better question is: \"\"Is there any currency that is not a fiat currency?\"\"\"",
"title": ""
},
{
"docid": "c0d0368bdda605c51b53c580867697f1",
"text": "US or EU states are sovereigns which cannot go bankrupt. US states have defaulted in the 1840's, but in most of those cases creditors were eventually repaid in full. (I'm not 100% sure, but I believe that Indiana was an exception with regard to costs incurred building a canal system) The best modern example of a true near-default was New York City in the late 1970's. Although New York City isn't a state, the size and scope of its finances is greater than many US states. What happened then in a nutshell: Basically, a default of a major state or a city like NYC where creditors took major losses would rock the financial markets and make it difficult for all states to obtain both short and long term financing at reasonable rates. That's why these entities get bailed out -- if Greece or California really collapse, it will likely create a domino effect that will have wide reaching effects.",
"title": ""
},
{
"docid": "85cc61ce4cae47e915371baf9aea5ef4",
"text": "\"But do you know about a US state risking to go default now or in the past? Ultimately, a US state could go into default. However, I doubt that such a scenario would be allowed to transpire. This seems to happen to California with some regularity. That is, risking default. What would happen is not quite well known: \"\"There is no provision for a state to go bankrupt,\"\" Kyser said. \"\"I don't think anyone really knows what will happen or even if the state will go into receivership if it does default. I can tell you this, officials are looking at all the (current) laws.\"\" (source) I believe that the answer to your question is that it could happen, but likely would not be allowed to occur. The nature of the EU and US are quite different. The individual states forming the US are not separate nations. For better or for worse, the US is a stronger federation than the EU. (Something that is lamented at times when the Feds mess with the purview of the locals.)\"",
"title": ""
}
] | [
{
"docid": "1e5936595150d32c4c51e53c0bffc161",
"text": "Have seen analysis that at least one state won't be able to repay their obligations using reasonable assumptions, I'm sure it applies to more. A lot of greed went into securitizing those payments the way they did.",
"title": ""
},
{
"docid": "d0639d406a8990b39b5ae168d9ebf638",
"text": "There no legal framework that allows states like the US or countries in Europe to default on their debt. Should congress pass a law to default the US supreme court is likely to nullify the law.",
"title": ""
},
{
"docid": "bc4e575ac33da3618e4a5bc3d3820746",
"text": "What? Our currency isn't backed by debt currently. It's a fiat currency. Now, if you're asking whether we could back the value of our currency against some type of debt, sure we could, but it would be an incredibly poor decision. The Constitution doesn't specify the type of currency the U.S. has. It gives Congress that power to either delegate that decision, as in the case of the Federal Reserve or pass their own laws.",
"title": ""
},
{
"docid": "dea8171566d9141f05c3d4f716818442",
"text": "Oh, you mean converting your money to that of a country whose public debt is [103% of GDP, instead of the 108% of your own?](http://en.wikipedia.org/wiki/List_of_countries_by_public_debt) That seems hardly an advancement, even more so considering that the public debt of the Eurozone as a whole is 82.5% of GDP. Greece is just 2% of the European economy, its default would not mean the collapse of the Euro.",
"title": ""
},
{
"docid": "1b5d19c84907af1282291361ec88cd5c",
"text": "\"Any clearing/ legal experts out there? Is this possible- and if so, is it that big of a deal? Here are my thoughts: 1. The EU is right to request euros to be cleared on \"\"home soil\"\" for sovereignty reasons since 2/3s of euro currency is cleared in London. 2. Moving euro clearing back to the eurozone... would just mirror US regulations. Whats the big deal?\"",
"title": ""
},
{
"docid": "39430e9e2b7e42a65b94a9ad0d7d55bf",
"text": "\"Correct! But this is only true when a central bank is involved. So if there's a single institution that has a territorial monopoly on the production of money (and competing currencies aren't allowed via \"\"legal tender laws\"\"), then the debt-based money system OP describes isn't actually the system being used. That's the problem with his post: he's trying to make it seem like our current system of fiat currencies is somehow natural or emergent. It's not. What we have now is the result of a legal monopoly.\"",
"title": ""
},
{
"docid": "b8f6e63d5633a6b93d55ac418d50aa71",
"text": "Typically the debt is held by individuals, corporations and investment funds, not by other countries. In cases where substantial amounts are held by other countries, those countries are typically not in debt themselves (e.g. China has huge holdings of US Treasuries). If the debts were all cancelled, then the holders of the debt (as listed above) would lose out badly and the knock-on effects on the economy would be substantial. Also, governments that default tend to find it harder to borrow money again in the future.",
"title": ""
},
{
"docid": "ecbce6fb051a2cb6791038ba17979cbf",
"text": "There is no situation one can imagine in which the US defaults (beyond a day or three) on its obligations. The treasury can print money, and while it would be disastrous, 'monetizing' the debt would simply eliminate all outstanding debt at the risk of devaluing the dollar to hyperinflation levels.",
"title": ""
},
{
"docid": "23dcb346982a8bdcf2ec460e8c272c4c",
"text": "There are many different things that can happen, all or some. Taking Russia and Argentina as precedence - you may not be able to withdraw funds from your bank for some period of time. Not because your accounts will be drained, but because the cash supply will be restricted. Similar thing has also happened recently in Cyprus. However, the fact that the governments of Russia and Argentina limited the use of cash for a period of time doesn't mean that the US government will have to do the same, it my choose some other means of restraint. What's for sure is that nothing good will happen. Nothing will probably happen to your balance in the bank (Although Cyprus has shown that that is not a given either). But I'm not so sure about FDIC maintaining it's insurance if the bank fails (meaning if the bank defaults as a result of the chain effect - you may lose your money). If the government is defaulting, it might not have enough cash to take over the bank deposits. After the default the currency value will probably drop sharply (devaluation) which will lead to inflation. Meaning your same balance will be worth much less than it is now. So there's something to worry about for everyone.",
"title": ""
},
{
"docid": "53a265388afd1f3bb9d2e8b6440301ff",
"text": "As do other states. The state and national debts are created by big government politicians. Such as bloated civil services, pension funds, more borrowing instead of fiscally responsible. The USA federal gov keeps trillions of shadow debt off its books and downplays the actual unemployment rate.",
"title": ""
},
{
"docid": "5916d0641665dba5b9bd44c1ea6d82c8",
"text": "It's all about risk. In 1990, expressing the idea of the US defaulting on debt payments would result in you being labelled as a crank. Yet in 2011, the President and Speaker of the House played chicken with the credit of the United States, and have a date to do it again in December 2011.",
"title": ""
},
{
"docid": "955eded50460f4e3770185808e6b9088",
"text": "> Europe is a temporary problem. Lol.. The better question for this thread is how is the European economy not utterly doomed? I see no way at all of the Euro surviving. Greece has already technically defaulted by saying it's not going to pay back all of it's debt. They will officially default when Germany stops bailing them out. Spain is in the exact same situation, just about a year behind. They haven't technically defaulted yet, but they will. They're receiving bailout after bailout and the Greece situation only makes their interest rates worse. Italy is just barely behind Spain, the Greek default followed by the Spanish defualt will send Italian interest rates through the roof dooming them to the same fate. This will eventually effect the US, but our borrowing rates are held artificially low due to the Fed just printing up more fake money and letting the US borrow as much as it wants. If you don't see this scheme crumbling and collapsing, I'm just curious what you actually think *will* happen?",
"title": ""
},
{
"docid": "102709659e6804bc3eaebde899eb282a",
"text": "\"Your question is expressed as a run-on sentence, which I'm having trouble parsing. Maybe you could restate. I'm just pointing out the stupidity of the statist canard that [the debt is not a problem because] \"\"we owe it to ourselves\"\". Collectivists like to think we're all in this together, but that's not reality. Some people are taking from others by force of law. The debt is owed to BANKS, and they want to keep this system going. Wouldn't you like to have a legal monopoly on the supply of currency? Institutions which are funded by loose credit (government, academia, military contractors, crony corporations) likewise benefit from this system. Those who invest in US dollars, and those who are farthest from the central planning spigot are the losers in this scheme. But there is more debt than currency, so it can't ever be repaid. So that is a moot point - it can't even hypothetically be considered. There are however a number of other ways that this system could unwind, when it inevitably does. The banks could be left to fail, and their assets would be bid on by others through the bankruptcy process. Or the Fed could keep issuing currency to keep the banks solvent, eventually inflating the whole system into irrelevance.\"",
"title": ""
},
{
"docid": "da65d37e11ced3265657280ccf9478aa",
"text": "\"For political reasons, almost all governments (including the US) spend more money than they get from taxes etc. There are a number of things a government can do to cover the difference: Most governments opt for selling bonds. The \"\"National Debt\"\" of a country can be thought of as being the sum of all the \"\"Bonds\"\" that are still paying interest, and that the Government hasn't Redeemed. It can all go horribly wrong. If the Government gets into a situation where it cannot pay the interest, or it cannot Redeem the Bonds it has promised to, then it may have to break its promise (\"\"Default\"\" on its payments). This makes the owners of the Bonds unhappy and means potential buyers of future Bond sales are less likely to want to buy the Governments new Bonds - effectively meaning the Government has to promise to pay more interest in the future. Recent examples of this include Argentina; and may include Greece soon. The US is in the fortunate position that not many people believe it will Default. Therefore the new Bonds it sells (which it does on a regular basis) are still in demand, even though its interest payments, and promises to Redeem Bonds are huge.\"",
"title": ""
},
{
"docid": "856f1f7783b7124bfef17de4e11454f0",
"text": "Don't you need ironclad sovereign debt that will never default type of trust to be a global currency? US is the closest we have at this point? If Europe wasn't on the Euro maybe you can say Germany but who else?",
"title": ""
}
] | fiqa |
663405f563912e77b1f1bf32bfe82a7c | How do I Fundamentally Analyze this Stock so I may see if the Company is Running Well? | [
{
"docid": "e57000db4a48e0c6eb6ebb6c74266973",
"text": "a) Nothing would support this company going back to $.50 per share b) Fundamentally the market for this sectors has been obliterated and the fundamentals don't look like they will improve. Similar companies experience what this one is and will be going through, they borrow the hilt and hope they can pump enough oil and sell the oil at a high price. Oil goes below, WAYYY below the price they can sell it at and even break even, so they are burning cash until they declare bankruptcy. This company is not an exception. So here is what to look at on their balance sheet: assets and liabilities. Liabilities are debt. Their debt is over 50% of their assets, that debt has interest and there is NO WAY they are making a profit. Their website's last financial statement is from September 30th.. LOL, so they haven't even released a quarterly financial statement in two quarters straight, so have they released anything? Given what we know about the dire state of the entire oil drilling industry, lets see if these guys are the exception to the rule (spoiler; they aren't) February 15th, 2015 http://www.marketwatch.com/story/strategic-oil-gas-ltd-provides-operations-update-2015-02-19-16173591 The Company prudently elected to stop the winter Muskeg drilling program in order to preserve capital. So now they aren't even getting new assets to resale, they aren't making any money from that operation, their debt still has interest payments though. Approximately 700 Boe/d of production has been shut-in by suspending operations at Bistcho, Cameron Hills and Larne, which are not economic at current commodity prices. Predictable. Also, you should notice from their actual financial statements (from 6 months ago, lol) (when the price of oil was over 100% higher than it is today, lol), this company already wasn't a good performer. They have been financing themselves by doing private placements, by issuing shares to investors that are not you, and diluting the share value of ALL OTHER SHAREHOLDERS. Dead in the water. I got this from skimming their financial report, without even being familiar with how canadian companies report. Its just bad news. You shouldn't be married to this investment.",
"title": ""
}
] | [
{
"docid": "a3d0faea96982b5a5ffaa1971f1df44c",
"text": "No. The information you are describing is technical data about a stock's market price and trading volume, only. There is nothing implied in that data about a company's financial fundamentals (earnings/profitability, outstanding shares, market capitalization, dividends, balance sheet assets and liabilities, etc.) All you can infer is positive or negative momentum in the trading of the stock. If you want to understand if a company is performing well, then you need fundamental data about the company such as you would get from a company's annual and quarterly reports.",
"title": ""
},
{
"docid": "0d2f9602637702fafbaab647b023f8cb",
"text": "Company that solves no problem whatsoever, just a middle man sucking a % of the value chain. It's Netflix, without the contents, but with the ads. https://twitter.com/idontg1veafu/status/913395877250785280 The streaming service is minimal (90M revenue), while the hardware selling (which btw is non-recurring, a là gopro) is trending lower. Avoid. Watch it for a short if your broker has the shares available and it rips higher and can't make new highs. At $35 within a week, I'd probably initiate a short position",
"title": ""
},
{
"docid": "ed8ac5cafaa4a0d9cf5ad7b74ff04938",
"text": "\"As other people have posted starting with \"\"fictional money\"\" is the best way to test a strategy, learn about the platform you are using, etc. That being said I would about how Fundamental Analysis works . Fundamental Analysis is the very basis of learning about an assets true value is priced. However in my humble opinion, I personally just stick with Index funds. In layman's terms Index Funds are essentially computer programs that buy or sell the underlying assets based on the Index they are associated with in the portion of the underlying index. Therefore you will usually be doing as good or as bad as the market. I personally have the background, education, and skillsets to build very complex models to do fundamental analysis but even I invest primarily in index funds because a well made and well researched stock model could take 8 hours or more and Modern Portfolio Theory would suggest that most investors will inevitably have a regression to the mean and have gains equal to the market rate or return over time. Which is what an index fund already does but without the hours of work and transaction cost.\"",
"title": ""
},
{
"docid": "84684ca8001220b80db21a461e7b2e21",
"text": "You won't be able to know the trading activity in a timely, actionable method in most cases. The exception is if the investor (individual, fund, holding company, non-profit foundation, etc) is a large shareholder of a specific company and therefore required to file their intentions to buy or sell with the SEC. The threshold for this is usually if they own 5% or greater of the outstanding shares. You can, however, get a sense of the holdings for some of the entities you mention with some sleuthing. Publicly-Traded Holding Companies Since you mention Warren Buffett, Berkshire Hathaway is an example of this. Publicly traded companies (that are traded on a US-based exchange) have to file numerous reports with the SEC. Of these, you should review their Annual Report and monitor all filings on the SEC's website. Here's the link to the Berkshire Hathaway profile. Private Foundations Harvard and Yale have private, non-profit foundations. The first place to look would be at the Form 990 filings each is required to file with the IRS. Two sources for these filings are GuideStar.org and the FoundationCenter.org. Keep in mind that if the private foundation is a large enough shareholder in a specific company, they, too, will be required to file their intentions to buy or sell shares in that company. Private Individuals Unless the individual publicly releases their current holdings, the only insight you may get is what they say publicly or have to disclose — again, if they are a major shareholder.",
"title": ""
},
{
"docid": "3b6d8cc249e33d07ba0caa1431a81429",
"text": "Rather than take anyone's word for it (including and especially mine) you need to do think very carefully about your company; you know it far better than almost anyone else. Do you feel that the company values its employees? If it values you and your immediate colleagues then its likely that it not only values its other employees but also its customers which is a sign that it will do well. Does the company have a good relationship with its customers? Since you are a software engineer using a web stack I assume that it is either a web consultancy or has an e-commerce side to it so you will have some exposure to what the customers complain about, either in terms of bugs or UX difficulties. You probably even get bug reports that tell you what customer pain points are. Are customers' concerns valid, serious and damaging? If they are then you should think twice about taking up the offer, if not then you may well be fine. Also bear in mind how much profit is made on each item of product and how many you can possibly sell - you need to be able to sell items that have been produced. Those factors indicate how the future of the company looks currently, next you need to think about why the IPO is needed. IPOs and other share offerings are generally done to raise capital for the firm so is your company raising money to invest for the future or to cover losses and cashflow shortfalls? Are you being paid on time and without issues? Do you get all of the equipment and hiring positions that you want or is money always a limiting factor? As an insider you have a better chance to analyse these things than outsiders as they effect your day-to-day work. Remember that anything in the prospectus is just marketing spiel; expecting a 4.5 - 5.3% div yield is not the same as actually paying it or guaranteeing it. Do you think that they could afford to pay it? The company is trying to sell these shares for the maximum price they can get, don't fall for the hyped up sales pitch. If you feel that all of these factors are positive then you should buy as much as you can, hopefully far more than the minimum, as it seems like the company is a strong, growing concern. If you have any concerns from thinking about these factors then you probably shouldn't buy any (unless you are getting a discount but that's a different set of considerations) as your money would be better utilized elsewhere.",
"title": ""
},
{
"docid": "3877c57cc08994391fb855b9a0d73018",
"text": "Lets pretend that TELSA decided to split its stock 10 shares for 1. Now the stock is $35 dollars- would that make you happy? You dont have any idea how companies are valued. Berkshire Hathaway Inc. Class A NYSE: BRK.A - Oct 31, 12:58 PM EDT 280,210.00 USD",
"title": ""
},
{
"docid": "eaf8fbb6297344fa58d97ad8831b11ca",
"text": "Having all of the numbers you posted is a start. It's what you need to perform the calculation. The final word, however, comes from the company itself, who are required to issue a determination on how the spin-off is valued. Say a company is split into two. Instead of some number of shares of each new company, imagine for this example it's one for one. i.e. One share of company A becomes a share each in company B and company C. This tell us nothing about relative valuation, right? Was B worth 1/2 of the original company A, or some other fraction? Say it is exactly a 50/50 split. Company A releases a statement that B and C each should have 1/2 the cost basis of your original A shares. Now, B and C may very well trade ahead of the stock splitting, as 'when issued' shares. At no point in time will B and C necessarily trade at exactly the same price, and the day that B and C are officially trading, with no more A shares, they may have already diverged in price. That is, there's nothing you can pull from the trading data to identify that the basis should have been assigned as 50% to each new share. This is my very long-winded was of explaining that the company must issue a notice through your broker, and on their investor section of their web site, to spell out the way you should assign your basis to each new stock.",
"title": ""
},
{
"docid": "a9fbbddf99ada47cb3317b4673d6b8ca",
"text": "This is fine, but I'd probably spend a moment introducing WACC and it's estimation. It's also useful to link up the enterprise value to share price, so just also mentioning the debt subtraction to get equity value and division by shares for price. Keep in mind you're usually given like a minute to answer this, so you can afford to be a bit more detailed in some parts.",
"title": ""
},
{
"docid": "61de25b75f779fd3addc7f1515b344a4",
"text": "\"Though you're looking to repeat this review with multiple securities and events at different times, I've taken liberty in assuming you are not looking to conduct backtests with hundreds of events. I've answered below assuming it's an ad hoc review for a single event pertaining to one security. Had the event occurred more recently, your full-service broker could often get it for you for free. Even some discount brokers will offer it so. If the stock and its options were actively traded, you can request \"\"time and sales,\"\" or \"\"TNS,\"\" data for the dates you have in mind. If not active, then request \"\"time and quotes,\"\" or \"\"TNQ\"\" data. If the event happened long ago, as seems to be the case, then your choices become much more limited and possibly costly. Below are some suggestions: Wall Street Journal and Investors' Business Daily print copies have daily stock options trading data. They are best for trading data on actively traded options. Since the event sounds like it was a major one for the company, it may have been actively traded that day and hence reported in the papers' listings. Some of the print pages have been digitized; otherwise you'll need to review the archived printed copies. Bloomberg has these data and access to them will depend on whether the account you use has that particular subscription. I've used it to get detailed equity trading data on defunct and delisted companies on specific dates and times and for and futures trading data. If you don't have personal access to Bloomberg, as many do not, you can try to request access from a public, commercial or business school library. The stock options exchanges sell their data; some strictly to resellers and others to anyone willing to pay. If you know which exchange(s) the options traded on, you can contact the exchange's market data services department and request TNS and / or TNQ data and a list of resellers, as the resellers may be cheaper for single queries.\"",
"title": ""
},
{
"docid": "ec14f4358a06c2dbf1c8f219be066d66",
"text": "It's been traded publicly for only about a month. I wouldn't put much credence in a P/E ratio just yet because it hasn't had to report anything like a grown-up publicly traded company yet.",
"title": ""
},
{
"docid": "3e29cffd92873ce7bd0d57d81102cb04",
"text": "You need to do a few things to analyze your results. First, look at the timing of the deposits, and try to confirm the return you state. If it's still as high as you think, can you attribute it to one lucky stock purchase? I have an account that's up 863% from 1998 till 2013. Am I a genius? Hardly. That account, one of many, happened to have stocks that really outperformed, Apple among them. If you are that good, a career change may be in order. Few are that good. Joe",
"title": ""
},
{
"docid": "6ccdf4de95322365d42b60b0d8817169",
"text": "\"The following is only an overview and does not contain all of the in-depth reasons why you should look more deeply. When you look at a stock's financials in depth you are looking for warning signs. These may warn of many things but one important thing to look for is ratio and growth rate manipulation. Using several different accounting methods it is possible to make a final report reflect a PE ratio (or any other ratio) that is inconsistent with the realities of the company's position. Earnings manipulation (in the way that Enron in particular manipulated them) is more widespread than you might think as \"\"earnings smoothing\"\" is a common way of keeping earnings in line (or smooth) in a recession or a boom. The reason that PE ratio looks so good could well be because professional investors have avoided the stock as there appear to be \"\"interesting\"\" (but legal) accounting decisions that are of concern. Another issue that you don't consider is growth. earnings may look good in the current reporting period but may have been stagnant or falling when considered over multiple periods. The low price may indicate falling revenues, earnings and market share that you would not be aware of when taking only your criteria into account. Understanding a firm will also give you an insight into how future news might affect the company. If the company has a lot of debt and market interest rates rise or fall how will that effect their debt, if another company brings out a competing product next week how will it effect the company? How will it effect their bottom line? How much do they rely on a single product line? How likely is it that their flagship product will become obsolete? How would that effect the company? Looking deeply into a company's financial statements will allow you to see any issues in their accounting practices and give you a feel for how they are preforming over time, it will also let you look into their cost of capital and investment decisions. Looking deeply into their products, company structure and how news will effect them will give you an understanding of potential issues that could threaten your investment before they occur. When looking for value you shouldn't just look at part of the value of the company; you wouldn't just look at sales of a single T-shirt range at Wallmart when deciding whether to invest in them. It is exactly the same argument for why you should look at the whole of the company's state when choosing to invest rather than a few small metrics.\"",
"title": ""
},
{
"docid": "7cfb787181731c3db190ce83e73934f7",
"text": "You can't. If there was a reliable way to identify an undervalued stock, then people would immediately buy it, its price would rise and it wouldn't be undervalued any more.",
"title": ""
},
{
"docid": "c373a9ff29b5f16a5563824d77021583",
"text": "\"Yes, in my humble opinion, it can be \"\"safe\"\" to assume that — but not in the sense that your assumption is necessarily or likely correct. Rather, it can be \"\"safe\"\" in the respect that assuming the worst — even if wrong! — could save you from a likely painful and unsuccessful speculation in the highly volatile stock of a tiny company with no revenue, no profits, next to no assets, and continued challenges to its existence: \"\"There is material uncertainty about whether the Company will be able to obtain the required financing. This material uncertainty casts significant doubt about the Company’s ability to continue as a going concern.\"\" As a penny stock, they are in good company. Still, there are a variety of other reasons why such a stock might have gone up, or down, and no one [here] can say for sure. Even if there was a news item, any price reaction to news could just amount to speculation on the part of others having enough money to move the stock. There are better investments out there, and cheaper thrills, than most penny stocks.\"",
"title": ""
},
{
"docid": "78b19eb243043dbe16e8163ab328b6ff",
"text": "Really not sure with this one and I don't want to cheat and look up an answer. I'd say you could find the high/low points of the stock over the last year or two and see how large the spread is between those values and the average price of the stock over the same time period.",
"title": ""
}
] | fiqa |
e0b6913fc50355c516d812c096818209 | Shared groceries expenses between roommates to be divided as per specific consumption ratio and attendance | [
{
"docid": "4864753b99d7a96b7700b749d5cb8693",
"text": "The solution to this problem is somewhat like grading on a curve. Use the consumption ratio multiplied by the attendance (which is also a ratio, out of 100 days) to calculate how much each person owes. This will leave you short. Then add together all of the shares in a category, determine the % increase required to get to the actual cost of that category, and increase all the shares by that %.",
"title": ""
},
{
"docid": "a3809349303c40ac4957d1925bf846e8",
"text": "Bren's comment is right on the mark. The typical solution is to divide all bills by 5, and for special items, the person buying it just marks his name that it's not community food. Your attempt at a granularity level this detailed is admirable, but produces false results. What happens when I claim to be a zero percent milk drinker but when someone gives me cookies, I have a glass of milk? The effort to get true accuracy will cost far more in time spent than the results are worth.",
"title": ""
},
{
"docid": "fd60b550030f7f8980fa50a6a6cb4e1e",
"text": "\"For a personal finance forum, this is too complicated for sustained use and you should find a simpler solution. For a mathematical exercise, you are missing information required to do the split fairly. You have to know who overlaps and when to know how to do the splits. For an extreme example, take your dates given: Considering 100 days of calculation period, If Roommate D was the only person present for the last 10 days, they should pay 100% of the grocery bill as they are the only one eating. From your initial data set, you can't know who should be splitting the tab for any given day. To do this mathematically, you'd need: But don't forget \"\"In Theory, Theory works. In Practice, Practice works.\"\" Good theory would say make a large, complicated spreadsheet as described above. Good practice would be to split up the costs in a much, much simpler way.\"",
"title": ""
},
{
"docid": "056b163de63958e5ed104d70f365b5ce",
"text": "When I was in grad school (at an engineering school) my apartment-mates and I came up with this formula: Worked marvelously.",
"title": ""
},
{
"docid": "b70694bff1fabf04277c65f9e26cf866",
"text": "\"So your whole approach, and the attempt to scale this is flawed. You will alienate roomates, provoke arguments, and make everyone's life more difficult. There are too many variables and unforeseen possibilities. For instance: \"\"Why should I have to pay for Joe to go buy the expensive organic milk when I'm fine with the cheap stuff?\"\" \"\"I planned on being here for 20 days, but was gone that long weekend, recalculate everything please.\"\" \"\"I already paid for this month, but now you're asking for more because James wanted to recalculate for a long weekend?\"\" The right way to do this is to set up loose, reasonable agreement among the participants and treat that as a contract, but with some flexibility/mercy on small dollar amount items. For instance: There are 5 of us, so everyone provides food (and shops/cooks) one night a week. We're solo on Friday and Saturday (people eat out more then anyway), and everyone puts in $10/week (or whatever) for breakfast cereal, snacks, etc. If you can't be here on your night, work out to trade with someone. If you miss out on a meal... oh well. As long as people feel like they have a say in the discussion generating this and it's not dictated to them, then most of the time this is far superior. If people need this level of detail, then perhaps those people should live alone or move in with Sheldon Cooper from \"\"The Big Bang Theory\"\".\"",
"title": ""
},
{
"docid": "46ab8a616a0f8e6f29f2abad090a6da5",
"text": "I asked how often grocery purchases are made in a comment, but I'm going to assume weekly for simplicity. If a roommate is present during the week following a grocery purchase, then they owe a share according to their preferences as you outlined them above. You will have to track the grocery cost by category for that week and calculate the balance owed by the person for that week. If there is a partial week where most expect to leave for a holiday or otherwise, then fewer groceries should be purchased for that week, and the cost of shares will decrease accordingly. One need only indicate preferences once, and weekly attendance thereafter. The only issue remaining is to determine how to record shares. If a normal person consumes 3 shares of milk, and .5 shares of butter, and so on, you simply add up all of the milk shares for the week and divide the milk bill by those shares. Same with the butter. The downside of this method is that you have to predict consumption in advance, so you may instead calculate by consumption after the fact with a deposit paid by all to create the initial grocery supply which will be refunded when that person leaves the grocery purchase co-op, and shares are calculated by who participated in the week prior to the grocery purchase. This also allows for a mid-week refresh if any commodity incurs higher than expected consumption, with the mid-week bill being added to the end of week refresh trip.",
"title": ""
}
] | [
{
"docid": "d1ff3cee0decc25182c465a797af4a69",
"text": "\"If you are living together 'casually' (no formal partnership agreement) then my option would be to ask her politely to as she has offered make a contribution by buying the groceries or some such which you share. A 'voluntary contribution' not an enforceable one. Just as between flat mates where only one is the actual tenant of the flat but the tenancy allows 'sharing' . Check your tenancy allows you to share lodgings. PS An old Scots saying is \"\"never do business with close family\"\". I.e do not charge your wife or living in partner rent. It mixes emotional domestic life with a formal business life which can set feuds going in case of a break up or dispute. If you enter into child bearing relationship or parent hood or formal partnership or marriage then all this changes at some time in the future.\"",
"title": ""
},
{
"docid": "396cf4f9e48af1691a4698047bf15b23",
"text": "\"Seriously. I can't tell you how many times I hear this scenario: Kid graduates college; kid runs out and signs lease on apartment \"\"because that's what you do\"\"**; kid complains that he's in financial trouble and can't make ends meet. Housemate sharing is most famously displayed in hit shows like Big Bang Theory or New Girl. They get a much nicer place with better furnishings for way less money. (However don't hook up with close neighbors or friends of other housemates, they do it for awkward laughs but it really results in awkward departure.) It's more financially responsible. It means the rest of your financial life will have more slack. And when you move, obviously, it's no big deal, you just give all the notice you can, and go to the next town and find another housemate share. ** I suspect a very significant factor is bringing home dates. Well, there's nothing sexy about taking your date to McDonalds because you can't afford anything more. See those shows... it works fine, you just have to be sensible about housemate choices. Pick housemates who view things the same way, and who themselves are invested in making the shared space attractive, and aren't going to mind some ...activities... once in awhile.\"",
"title": ""
},
{
"docid": "dce2e7d55d8aed2b088a1fd27ce27f39",
"text": "\"People who rent an apartment will typically pay by check. Probably 90% of the checks I have written are for rent. To some extent this falls under the previously mentioned \"\"payments to another person\"\" rule.\"",
"title": ""
},
{
"docid": "60d2f89864dea202441e15f68ffccdda",
"text": "That's not really the point. A small percentage of the 70% of the US population living within 150 miles will have disposable income to throw at marked up groceries. Until someone can explain how this reduces overhead and lowers prices I'm just real skeptical. Whole thing reeks of Webvan 2.0. Walmart and Marc Lore are at least bringing creative ideas to the table. The associate delivery for last leg is an interesting approach.",
"title": ""
},
{
"docid": "1d0da17444fef08144e0662aff677489",
"text": "I want to encourage diversity in means of producing goods so I organised subcategories by the means necessary to produce said goods, I organised categories by the same types of items that are all in a similar price range than each other, the randomiser will pick an item of the same category but of a different subcategory. (yogurt and cheese are in the same category, and same subcategory because the means of production is the same, so price change of one won't affect the economy as much)",
"title": ""
},
{
"docid": "6d7b6bb090df4748ab7fa0ddccdc38a7",
"text": "For example: Dinner together: DR Food 50 DR Spouse 50 CR Credit Card 100",
"title": ""
},
{
"docid": "0ef9dc334f917decc414dc8ad59a434a",
"text": "For less than that you can get wings and nachos at a place on a college campus (so it isn't even cheap) and it will be more food than two people can possibly eat _and_ be really fucking good. Now I want to go get nachos...",
"title": ""
},
{
"docid": "75499f0a26a8cd8961d79b389d1190d3",
"text": "My brother's wife does some pretty intense couponing. She recently posted on facebook when she bought about $300 worth of items for $30. It was almost all toiletries and food that her family uses regularly, though there were some items they've now got 3 months supply of. She told me that it is a pain to track and exploit all of the different coupons/discounts but the savings help to offset the cost of homeschooling 4 children.",
"title": ""
},
{
"docid": "9e8ab7bad2338f1701bb254dfdb8835e",
"text": "\"Nobel laureate economist, Paul Krugman, wrote a piece many moons ago about economic expansion and money supply. As an illustration of how money supply affects the economy, he used the example of a baby-sitting co-op. While simplistic, it provides an easy to grasp notion of how printing money and restricting it (e.g. by pegging the currency to gold reserves) can affect the economy. Here is an excerpt from his webpage ( http://web.mit.edu/krugman/www/howfast.html ): \"\"With the decline of the traditional extended family, in which relatives were available to take care of children at need, many parents in the United States have sought alternative arrangements. A popular scheme is the baby-sitting coop, in which a group of parents agree to help each other out on a reciprocal basis, with each parent serving both as baby-sitter and baby-sittee. Any such coop requires rules that ensure that all members do their fair share. One natural answer, at least to people accustomed to a market economy, is to use some kind of token or marker system: parents \"\"earn\"\" tokens by babysitting, then in turn hand over these tokens when their own children are minded by others. For example, a recently formed coop in Western Massachusetts uses Popsicle sticks, each representing one hour of babysitting. When a new parent enters the coop, he or she receives an initial allocation of ten sticks. This system is self-regulating, in the sense that it automatically ensures that over any length of time a parent will put in more or less the same amount of time that he or she receives. It turns out, however, that establishing such a token system is not enough to make a coop work properly. It is also necessary to get the number of tokens per member more or less right. To see why, suppose that there were very few tokens in circulation. Parents will want on average to hold some reserve of tokens - enough to deal with the possibility that they may want to go out a few times before they have a chance to babysit themselves and earn more tokens. Any individual parent can, of course, try to accumulate more tokens by babysitting more and going out less. But what happens if almost everyone is trying to accumulate tokens - as they will be if there are very few in circulation? One parent's decision to go out is another's opportunity to babysit. So if everyone in the coop is trying to add to his or her reserve of tokens, there will be very few opportunities to babysit. This in turn will make people even more reluctant to go out, and use up their precious token reserves; and the level of activity in the coop may decline to a disappointingly low level. The solution to this problem is, of course, simply to issue more Popsicle sticks. But not too many - because an excess of popsicle sticks can pose an equally severe problem. Suppose that almost everyone in the coop has more sticks than they need; then they will be eager to go out, but reluctant to babysit. It will therefore become hard to find babysitters - and since opportunities to use popsicle sticks will become rare, people will become even less willing to spend time and effort earning them. Too many tokens in circulation, then, can be just as destructive as too few.\"\" -- Paul Krugman, 1997 (accessed webpage 2010).\"",
"title": ""
},
{
"docid": "2ff486ed7898d24d0f4abea2a936f1c3",
"text": "\"One trick is to make all purchases end in a particular number of your choosing, say \"\"3\"\". From now on, all restaurant meals,gas purchases, and anything in your control, end them in 3. When you glance at the bill, you can skip these charges, and look carefully at the rest. It's not 100%, as you couldn't easily impact supermarket charges and many others, but it's half of my routine charges.\"",
"title": ""
},
{
"docid": "1bf596ba9d705edf1b67f8b8c92e8b49",
"text": "I do online grocery shopping directly with my local supermarket. Its great. I keep a basic list of recipes/supplies I use pretty dependably every week. I add them all at once. Then I quickly pick through them to fine-tune and bam, done. 15 minutes while drinking mai tais in my underwear. Schedule pickup for the next day on my way home from work.",
"title": ""
},
{
"docid": "1163264fd0713664d91ece48242a3a2d",
"text": "Agreed. I travel 8-10 weeks a year and usually my option for a private room in a shared home on airbnb is the same as a room at a mid-tier hotel. Whole house on airbnb is equivalent to a room at a higher tier hotel. I'll take the hotel 9 times out of 10 to get the points and because I know what I'm getting each time.",
"title": ""
},
{
"docid": "6ec9ed07eed727fa6ea5c2ba8cd7ad1f",
"text": "My wife and I set up a shared bank account. We knew the monthly costs of the mortgage and estimated the cost of utilities. Each month, we transferred enough to cover these, plus about 20% so we could make an extra mortgage payment each year and build up an emergency fund, and did so using automatic transactions. Other shared expenses such as groceries, we handled on an ad-hoc basis, settling up every month or three. We initially just split everything 50-50 because we both earned roughly the same income. When that changed, we ended up going with a 60-40 split. We maintained our separate bank accounts, though this may have changed in the future. A system like this may work for you, or may at least provide a starting point for a discussion. And I do strongly advise having a frank and open discussion on these points. Dealing with money can be tricky in the bounds of a marriage.",
"title": ""
},
{
"docid": "bcb422c4ffcc892325385f9205b4d82a",
"text": "\"If you or they feel uneasy about you simply paying more rent than them for equal usage, you can work out an agreement where they \"\"pay\"\" in other ways. For example, I once lived with someone that made about double what I did, and so he paid more rent than I did. In exchange, I was responsible for cleaning the kitchen. If your roommates hate cleaning then you could substitute something like running errands, cooking, or looking after plants/landscaping. If they have some specialized skills then they might be able to provide those instead (car maintenance, financial management, etc.). Of course you'll want to agree ahead of time on what the conditions of satisfaction for the task are, such as how often the kitchen will have to be cleaned and what the definition of \"\"clean\"\" is. You also can't be a jerk and make their job extra hard, such as by completely trashing the kitchen every night. Obviously it will depend on the temperament of your roommates whether or not they'll be happy with this or feel insulted being \"\"the help\"\". It worked for us because it was a task he hated and one I didn't mind, and it kept me from feeling like I was mooching off him. I would feel them out when you propose a possible rent and utilities split. If they feel like it's an unfair burden on you, but they can't afford more, then you could suggest this as a way for everyone to contribute equally. Whatever you decide to do, don't hold it over their heads that you pay more. Agree on something that everyone feels is fair, whatever that is. If you want a concession due to paying more (such as you get the garage, get to pick the art on the walls, whatever), then agree to that up front. Then accept that you've made a fair deal and they don't owe you anything beyond what you've all agreed to. It's awful to feel like you live in someone else's home and that you are getting into ever deeper debt with a close friend or significant other, and it will breed resentment. If you can't do that, then don't share an apartment with them at all. The most important thing is that everyone feels it's fair, regardless of the numbers. If you cannot get to that agreement through dollars alone, you can have them contribute to the home in other ways, such as cleaning, cooking, or performing maintenance. Just make sure that everyone truly does feel it's fair and that you are all equals.\"",
"title": ""
},
{
"docid": "085e66370274aa1b61b09d21ff717302",
"text": "\"Completely linear? We don't do that. Our daughter has a fixed allowance, and we expect a certain amount of help around the house as being part of the family. We don't make any explicit ties between the two, and we don't seem to have any problems. We bought an eBay lot of Polly Pockets and divided them up into $5 bags. (This is a better deal that what we could get in the store new.) Her allowance isn't enough that she can \"\"buy\"\" one every week. After sensing her frustration we gave her the opportunity to earn some more money by doing extra work. It happened to be cleaning up after our dogs in the back yard, a chore we had neglected for quite a while. She stuck with the job, and truly earned that money. (She'll be six in January.) What's more, it was a good deal for me. It needed to be done, and I didn't really want to do it. :) So, for now this seems like a fair balance. It prevents her from getting the idea that she won't work unless she gets paid, but she also knows that working harder does have its rewards. We still have time to teach her the idea of working smarter. (This isn't a formal study. It's just my experience.)\"",
"title": ""
}
] | fiqa |
e33ac1377a724dbd538bd085daa0af80 | Historical share price at exact day and time | [
{
"docid": "681a68e3b9bb0ed1f7c21754b288d44c",
"text": "On 2012/05/18 at 15:34:00 UTC (11:34:00 EDT) FB was in chaos mode. The most recent public US trade at that moment was at $40.94, but in the next one second (i.e. before the clock hit 15:34:01) there were several dozen trades as low as $40.76 and as high as $41.00. On 2012/05/30 at 17:21:00 UTC (13:21:00 EDT) the most recent public US trade for FB was at $28.28.",
"title": ""
},
{
"docid": "c139204ef8db6cebd5386f5e6f653212",
"text": "You'd have to buy that information. Quoting from this page, Commercial Historical Data Higher resolution and more complete datasets are generally not available for free. Below is a list of vendors which have passed our quality screening (in total, we screened over a dozen vendors). To qualify, the vendor must aggregate data from all US national/regional exchanges as only complete datasets are suitable for research use. The last point is especially important as there are many vendors who just get data from a couple sources and is missing important information such as dark pool trades. They offer some alternatives for free data: Daily Resolution Data 1) Yahoo! Finance– Daily resolution data, with split/dividend adjustments can be downloaded from here. The download procedure can be automated using this tool. Note, Yahoo quite frequently has errors in its database and does not contain data for delisted symbols. 2) QuantQuote Free Data– QuantQuote offers free daily resolution data for the S&P500 at this web page under the Free Data tab. The data accounts for symbol changes, splits, and dividends, and is largely free of the errors found in the Yahoo data. Note, only 500 symbols are available unlike Yahoo which provides all listed symbols. And they list recommendations about who to buy the data from.",
"title": ""
},
{
"docid": "ce74473919d8ee1c40037ea199392734",
"text": "An alternative to paying thousands of dollars for historical prices by the minute: Subscribe to real time data for as low as USD$1.5/month from your broker, then browse the chart.",
"title": ""
}
] | [
{
"docid": "61de25b75f779fd3addc7f1515b344a4",
"text": "\"Though you're looking to repeat this review with multiple securities and events at different times, I've taken liberty in assuming you are not looking to conduct backtests with hundreds of events. I've answered below assuming it's an ad hoc review for a single event pertaining to one security. Had the event occurred more recently, your full-service broker could often get it for you for free. Even some discount brokers will offer it so. If the stock and its options were actively traded, you can request \"\"time and sales,\"\" or \"\"TNS,\"\" data for the dates you have in mind. If not active, then request \"\"time and quotes,\"\" or \"\"TNQ\"\" data. If the event happened long ago, as seems to be the case, then your choices become much more limited and possibly costly. Below are some suggestions: Wall Street Journal and Investors' Business Daily print copies have daily stock options trading data. They are best for trading data on actively traded options. Since the event sounds like it was a major one for the company, it may have been actively traded that day and hence reported in the papers' listings. Some of the print pages have been digitized; otherwise you'll need to review the archived printed copies. Bloomberg has these data and access to them will depend on whether the account you use has that particular subscription. I've used it to get detailed equity trading data on defunct and delisted companies on specific dates and times and for and futures trading data. If you don't have personal access to Bloomberg, as many do not, you can try to request access from a public, commercial or business school library. The stock options exchanges sell their data; some strictly to resellers and others to anyone willing to pay. If you know which exchange(s) the options traded on, you can contact the exchange's market data services department and request TNS and / or TNQ data and a list of resellers, as the resellers may be cheaper for single queries.\"",
"title": ""
},
{
"docid": "f40ce647ec1934ec570d35784baa2775",
"text": "James Roth provides a partial solution good for stock picking but let's speed up process a bit, already calculated historical standard deviations: Ibbotson, very good collection of research papers here, examples below Books",
"title": ""
},
{
"docid": "37837d478e342d10d0f293af36a70417",
"text": "FreeStockCharts.com keeps some intra-day trading history. You have to create an account to look up individual stocks. Once you create a free account you can get intra-day trading history for the last month (Hourly for past month, 15 minutes for past week, 1 minute for past day). Going back past one month and it only keeps daily close history. Here is Family Dollary's (FDO) hourly intra-day chart for the past month:",
"title": ""
},
{
"docid": "de242c20e4e0b92003730a296c3ef71c",
"text": "The difference is that Yahoo is showing the unadjusted price that the security traded for on that date, while google is adjusting for price splits. This means that Google is showing how much you would have had to pay to get what is now one share. Since 1979, JNJ has split 3-for-1 once, and 2-for-1 four times. 3x2x2x2x2 = 48. If you bought 1 share at that time, you would now have 48 shares today. Yahoo is showing a price of $66 for what was then 1 share. $66/48 = 1.375, which Google rounds to 1.38. You can see this if you get the prices from May 14-21, 1981. The stock split 3-for-1, and the price dropped from 108 to 36.38. Yahoo's adjusted close column has not been accurate since they re-wrote the Finance website. It now just represents the closing price. The other relevant field on Yahoo is the Adj. Close. This adjusts for splits, but also adjusts for dividends. Hence why this doesn't match either the Google or Yahoo numbers.",
"title": ""
},
{
"docid": "5db2500544c713428b4b849702c8e351",
"text": "In order to see whether you can buy or sell some given quantity of a stock at the current bid price, you need a counterparty (a buyer) who is willing to buy the number of stocks you are wishing to offload. To see whether such a counterparty exists, you can look at the stock's order book, or level two feed. The order book shows all the people who have placed buy or sell orders, the price they are willing to pay, and the quantity they demand at that price. Here is the order book from earlier this morning for the British pharmaceutical company, GlaxoSmithKline PLC. Let's start by looking at the left-hand blue part of the book, beneath the yellow strip. This is called the Buy side. The book is sorted with the highest price at the top, because this is the best price that a seller can presently obtain. If several buyers bid at the same price, then the oldest entry on the book takes precedence. You can see we have five buyers each willing to pay 1543.0 p (that's 1543 British pence, or £15.43) per share. Therefore the current bid price for this instrument is 1543.0. The first buyer wants 175 shares, the next, 300, and so on. The total volume that is demanded at 1543.0p is 2435 shares. This information is summarized on the yellow strip: 5 buyers, total volume of 2435, at 1543.0. These are all buyers who want to buy right now and the exchange will make the trade happen immediately if you put in a sell order for 1543.0 p or less. If you want to sell 2435 shares or fewer, you are good to go. The important thing to note is that once you sell these bidders a total of 2435 shares, then their orders are fulfilled and they will be removed from the order book. At this point, the next bidder is promoted up the book; but his price is 1542.5, 0.5 p lower than before. Absent any further changes to the order book, the bid price will decrease to 1542.5 p. This makes sense because you are selling a lot of shares so you'd expect the market price to be depressed. This information will be disseminated to the level one feed and the level one graph of the stock price will be updated. Thus if you have more than 2435 shares to sell, you cannot expect to execute your order at the bid price in one go. Of course, the more shares you are trying to get rid of, the further down the buy side you will have to go. In reality for a highly liquid stock as this, the order book receives many amendments per second and it is unlikely that your trade would make much difference. On the right hand side of the display you can see the recent trades: these are the times the trades were done (or notified to the exchange), the price of the trade, the volume and the trade type (AT means automatic trade). GlaxoSmithKline is a highly liquid stock with many willing buyers and sellers. But some stocks are less liquid. In order to enable traders to find a counterparty at short notice, exchanges often require less liquid stocks to have market makers. A market maker places buy and sell orders simultaneously, with a spread between the two prices so that they can profit from each transaction. For instance Diurnal Group PLC has had no trades today and no quotes. It has a more complicated order book, enabling both ordinary buyers and sellers to list if they wish, but market makers are separated out at the top. Here you can see that three market makers are providing liquidity on this stock, Peel Hunt (PEEL), Numis (NUMS) and Winterflood (WINS). They have a very unpalatable spread of over 5% between their bid and offer prices. Further in each case the sum total that they are willing to trade is 3000 shares. If you have more than three thousand Dirunal Group shares to sell, you would have to wait for the market makers to come back with a new quote after you'd sold the first 3000.",
"title": ""
},
{
"docid": "829e686278a4a68bc87296349e46fb35",
"text": "The correct p/e for bp.l is 5.80. Bp.l is on the London stock exchange and prices are in local currency. The share price of 493 is reported in pence (not dollars). The EPS is reported in pounds. Using .85 pounds = 85 pence, you calculate the EPS as follows: 493.40/85 = 5.80 PE Yahoo totally screwed up. They converted the .85 pounds into US dollars ($1.34) but didn't convert the 493 pence. By using the 493 as dollars, they got 493.9/1.34 = 368 pe! Notice that Yahoo reports the American Depository Shares (symbol 'BP') with an EPS of $8.06. That correctly reflects that there are 6 shares of BP.l per ADS (1.34 * 6 = 8.04). But why is the share price listed at $46.69? Well... 493 GBp (pence) = 4.93 pounds 4.93 pounds = 7.73 USD 7.73 USD * 6 shares per ADS = 46.38 USD",
"title": ""
},
{
"docid": "4eeeb700522713da024781f45893656f",
"text": "Interactive Brokers provides historical intraday data including Bid, Ask, Last Trade and Volume for the majority of stocks. You can chart the data, download it to Excel or use it in your own application through their API. EDIT: Compared to other solutions (like FreeStockCharts.com for instance), Interactive Brokers provides not only historic intraday LAST**** trades **but also historic BID and ASK data, which is very useful information if you want to design your own trading system. I have enclosed a screenshot to the chart parameter window and a link to the API description.",
"title": ""
},
{
"docid": "3738d4730492b2c16c3e0de5fa4b797b",
"text": "You have to look at the real price of the share to calculate the value of the spread. 42$ at the start, 46$ at the end. Think of it this way: When price was 42$ the call 45$ was out of the money, worth 100$ of time value only=100 the call 40$ was in the money and worth 200$ of intrinsic + 100 time value=300 the difference was 200$ Now that price is 46$ the call 45$ is worth 100$ in the money, real or intrinsic value the call 40$ is worth 600$ in the money, real or intrinsic value the difference is 500$ NOTE: 1. Commission fees are not included. 2. Time value of 100$ on both calls when price is 42$ is incorrect and for teaching purpose only.",
"title": ""
},
{
"docid": "fc995ec5e7c0691a5351985999c81cc2",
"text": "For stock splits, let's say stock XYZ closed at 100 on February 5. Then on February 6, it undergoes a 2-for-1 split and closes the day at 51. In Yahoo's historical prices for XYZ, you will see that it closed at 51 on Feb 6, but all of the closing prices for the previous days will be divided by 2. So for Feb 5, it will say the closing price was 50 instead of 100. For dividends, let's say stock ABC closed at 200 on December 18. Then on December 19, the stock increases in price by $2 but it pays out a $1 dividend. In Yahoo's historical prices for XYZ, you will see that it closed at 200 on Dec 18 and 201 on Dec 19. Yahoo adjusts the closing price for Dec 19 to factor in the dividend.",
"title": ""
},
{
"docid": "2c91dbcb174171eab32c85abaddec8f3",
"text": "\"What most of these answers here seem to be missing is that a stock \"\"price\"\" is not exactly what we typically expect a price to be--for example, when we go in to the supermarket and see that the price of a gallon of milk is $2.00, we know that when we go to the cash register that is exactly how much we will pay. This is not, however, the case for stocks. For stocks, when most people talk about the price or quote, they are really referring to the last price at which that stock traded--which unlike for a gallon of milk at the supermarket, is no guarantee of what the next stock price will be. Relatively speaking, most stocks are extremely liquid, so they will react to any information which the \"\"market\"\" believes has a bearing on the value of their underlying asset almost (if not) immediately. As an extreme example, if allegations of accounting fraud for a particular company whose stock is trading at $40 come out mid-session, there will not be a gradual decline in the price ($40 -> $39.99 -> $39.97, etc.)-- instead, the price will jump from $40 to say, $20. In the time between the the $40 trade and the $20 trade, even though we may say the price of the stock was $40, that quote was actually a terrible estimate of the stock's current (post-fraud announcement) price. Considering that the \"\"price\"\" of a stock typically does not remain constant even in the span of a few seconds to a few minutes, it should not be hard to believe that this price will not remain constant over the 17.5 hour period from the previous day's close to the current day's open. Don't forget that as Americans go to bed, the Asian markets are just opening, and by the time US markets have opened, it is already past 2PM in London. In addition to the information (and therefore new knowledge) gained from these foreign markets' movements, macro factors can also play an important part in a security's price-- perhaps the ECB makes a morning statement that is interpreted as negative news for the markets or a foreign government before the US markets open. Stock prices on the NYSE, NASDAQ, etc. won't be able to react until 9:30, but the $40 price of the last trade of a broad market ETF at 4PM yesterday probably isn't looking so hot at 6:30 this morning... don't forget either that most individual stocks are correlated with the movement of the broader market, so even news that is not specific to a given security will in all likelihood still have an impact on that security's price. The above are only a few of many examples of things that can impact a stock's valuation between close and open: all sorts of geopolitical events, announcements from large, multi-national companies, macroeconomic stats such as unemployment rates, etc. announced in foreign countries can all play a role in affecting a security's price overnight. As an aside, one of the answers mentioned after hours trading as a reason--in actuality this typically has very little (if any) impact on the next day's prices and is often referred to as \"\"amateur hour\"\", due to the fact that trading during this time typically consists of small-time investors. Prices in AH are very poor predictors of a stock's price at open.\"",
"title": ""
},
{
"docid": "366110afc6c37433dbbd7d11fa1dd8a6",
"text": "If you use Google Finance, you will get incorrect results because Google Finance does not show the dividend history. Since your requirement is that dividends are re-invested, you should use Yahoo Finance instead, downloading the historical 'adjusted' price.",
"title": ""
},
{
"docid": "d21510e020a4614e78e632825b4328fa",
"text": "It does sometimes open one day the same as it closed the previous day. Take a look at ESCA, it closed October 29th at 4.50, at opened November 1st at 4.50. It's more likely to change prices overnight than it is between two successive ticks during the day, because a lot more time passes, in which news can come out, and in which people can reevaluate the stock.",
"title": ""
},
{
"docid": "9539f48978a7abd2d6b7fa176ea6f1c2",
"text": "TdAmeritrade offers this service for free using 3rd party company markit. From markit's site, below is their guarantee. http://www.markit.com/product/markit-on-demand Markit On Demand delivers an average of two million alerts per day through various technology platforms and via multiple channels, including email, instant messages, wireless, RSS and Facebook. Investors can subscribe to their alerts of choice, and Markit On Demand guarantees that they will receive an alert within five minutes of the event trigger for all price and volume alerts",
"title": ""
},
{
"docid": "ff68b09fef2ab83c41d8cf7759d12c2c",
"text": "The point of that question is to test if the user can connect shares and stock price. However, that being said yeah, you're right. Probably gives off the impression that it's a bit elementary. I'll look into changing it asap.",
"title": ""
},
{
"docid": "aff1cd033ebf357cc6d08f7b3abbcab1",
"text": "\"The \"\"price\"\" is the price of the last transaction that actually took place. According to Motley Fool wiki: A stock price is determined by what was last paid for it. During market hours (usually weekdays from 9:30AM-4:00PM eastern), a heavily traded issue will see its price change several times per second. A stock's price is, for many purposes, considered unchanged outside of market hours. Roughly speaking, a transaction is executed when an offer to buy matches an offer to sell. These offers are listed in the Order Book for a stock (Example: GOOG at Yahoo Finance). This is actively updated during trading hours. This lists all the currently active buy (\"\"bid\"\") and sell (\"\"ask\"\") orders for a stock, and looks like this: You'll notice that the stock price (again, the last sale price) will (usually*) be between the highest bid and the lowest ask price. * Exception: When all the buy or sell prices have moved down or up, but no trades have executed yet.\"",
"title": ""
}
] | fiqa |
f381070305c9bfb8efae0983305e2290 | How could I find someone to find a room for me to live in? (For a fee, of course.) | [
{
"docid": "722cb8a0d538f3d791365958f12411e6",
"text": "Many colleges have offices that can help students find off campus housing. They will have information about rooms being let by families, and about houses being shared by groups of students. The biggest issue is that many of the best places were filled months ago. With only a month to go before classes start time is tight. You can also look for electronic listings organized through a campus newspaper. The advantage of going through university resources is that they will have more information regarding the types of students they are looking for. A house full of undergrads is different than a family house that rents only to young professors.",
"title": ""
},
{
"docid": "edbff83fbbc625eea5795c3962a03074",
"text": "\"There are services, usually associated with real estate agents, that provide apartment search services for relocating professionals. I was very underimpressed when I was offered the use of such a service and did better on my own, but I did have the company paying for a hotel room while I searched so I had time to investigate alternative channels -- and in fact found and took a place being offered by a co-worker's father. But if you're really looking for \"\"a room\"\" in a shared living situation, and you aren't already on campus talking to other students, I agree that the school's housing office, or the dorms and/or fraternity houses and/or independent living groups are your best bet. In a college town most roommate openings get snapped up pretty quickly and are more likely to go to someone who is a known or vouched-for quantity.\"",
"title": ""
}
] | [
{
"docid": "d531e6c8919ffe0ead8462feb2aba3db",
"text": "I wouldn't start a bidding war if I were you. Sometimes you may get potentially bad tenants who cannot find a property anywhere else offering more money just to get in a place. If you know nothing else about these people how can you guarantee they will keep paying the rent once they get in. The things you should be doing is checking the prospective tenant's employment and income status, making sure they are able to easily pay the rent. You should check their credit report to see if they have a history of bad debts. And you should be checking with their previous landlords or real estate agents to see if they caused any damages to their previous properties. You should create a form that prospective tenants can fill out providing you with all the essential information you are after. Get them so sign a statement that gives you authority to ask information about them with other people (their previous landlords/ real estate agents, and their employers). Have a system set out on how you will assess all applicants and for the information the applicants need to provide you with. Treat it as a business.",
"title": ""
},
{
"docid": "95256edb22555049c2e5d130e88e5287",
"text": "\"Get everything in writing. That includes ownership %, money in, money out, who is allowed to use the place, how much they need to pay the other partners, who pays for repairs, whether to provide 'friends and family' discounts, who is allowed to sell, what happens if someone dies, how is the mortgage set up, what to do if one of you becomes delinquent, etc. etc. etc. Money and friends don't mix. And that's mostly because people have different ideas in their head about what 'fair' means. Anything you don't have in writing, if it comes up in a disagreement, could cause a friendship-ending fight. Even if you are able to agree on every term and condition under the sun, there's still a problem - what if 5 years from now, someone decides that a certain clause isn't fair? Imagine one of you needs to move into the condo because your primary residence was pulled out from under you. They crash at the condo because they have no where else to go. You try to demand payment, but they lost their job. The agreement might say \"\"you must pay the partnership if you use the condo personally, at the standard monthly rate * # of days\"\". But what is the penalty clause - is everything under penalty of eviction, and forced sale of the condo and distribution of profits? Following through on such a penalty means the friendship would be over. You would feel guilty about doing it, and also about not doing it [at the same time, your other partner loses their job, and can't make 1/3rd of the mortgage payments anymore! They need the rent or the bank will foreclose on their house!] etc etc etc Even things like maintenance - are the 3 of you going to do it yourselves? Labour distributed how? Will anyone get a management fee? What about a referral fee for a new renter? Once you've thought of all possible circumstances and rules, and drafted it in writing, go talk to a lawyer, and maybe an accountant. There will be many things you won't have considered yet, and paying a few grand today will save you money and friends in the future.\"",
"title": ""
},
{
"docid": "1e912dbff135225ac31d53bff72a6ff8",
"text": "\"I am surprised at the amount of work this contract wants done. I'd question if it's even legal given the high costs. I suspect it's only there to remind abusive tenants of responsibilities they already have in law for extraordinary abuse beyond ordinary wear-and-tear: they are already on the hook to repaint if they trash the paint (think: child writing on walls, happens a lot), and already need to fumigate (and a lot more) if they are a filth-type hoarder who brings in a serious infestation (happens a lot). The landlord can already go after these people for additional money beyond the deposit. But that's not you. So don't freak out about those clauses, until you talk to the landlord and see what he's really after. Almost certainly, he really wants a \"\"fit and ready to rent\"\" unit upon your departure, so he doesn't have to take the unit off the market for months fixing it. As long as that's done, there's no reasonable reason for further work -- a decent landlord wouldn't require that. Nor would a court, IMO. The trouble with living in a place for awhile is you become blind to its deficiencies. What's more, it's rather difficult to \"\"size up\"\" a unit as ready when it's still occupied by your stuff. A unit will look rather different when reduced to a bare room, without furniture and whatnot distracting you. Add to it a dose of vanity and it becomes hard to convince yourself of defects others will easily see. So, tread carefully here. If push comes to shove, first stop is whether it's even legal. Cities and states with heavy tenant populations tend to have much more detailed laws, and as a rule, they favor the tenant. Right off the bat, in most states the tenant is not responsible for ordinary wear-and-tear. In my opinion, 6 years of ordinary, exempt wear would justify a repaint, so that shouldn't be on the tenant at all. As for the fumigation, I'm not in Florida so I don't know the deal, maybe there's some special environmental issue there which somehow makes that reasonable, it sure wouldn't fly in CA. Again that assumes you're a reasonable prudent tenant, not a slob or hoarder. As for the pro carpet cleaning, that's par for the course in any of the tough rent control areas I've seen, so that's gotten a pass from the legislators. Though $600 seems awfully high. Other than that, you can argue the terms are \"\"unconscionable\"\" -- too much of a raw deal to even be fair. However, this will depend on the opinion of a judge. Hit or miss. I'm hoping your landlord will be happy to negotiate based on the good condition of the unit (which he may not know; landlords rarely visit tenant units unless they really need to.) You certainly should make the case that you make here; that the work is not really needed and it's prohibitive. Your best defense against unconscionable deals is don't sign them. Remember, you didn't know the guy when you initially signed... the now-objectionable language should have been a big red flag back then, saying this guy is epic evil, run screaming. (even if that turned out not to be true, you should't have hung around to find out.) You may have gotten lucky this time, but don't make that mistake again. Unless one of the above pans out, though... a deal is a deal. You gave your word. The powerful act here is to keep your word. Forgive me for getting ontological, but successful people say it creates success for them. And here's the thing. You have to read your contracts because you can't keep your word if you don't know what word you gave. It's a common mistake: thinking good business is trust, hope, faith, submission or giving your all. No. In business, you take the time to hammer out mutually beneficial (win-win) agreements, and you set them on paper to eliminate confusion, argument and stress in the future as memories fade and conditions change. That conflict resolution is how business partners remain friends, or at least professional colleagues.\"",
"title": ""
},
{
"docid": "ffb8bd6bf8c66369463193f0e40c7f18",
"text": "This tale makes me sad the more I learn of it. I am impressed with your dedication and caring for your ex-wife and particularly your kids; you seem like a good person from your questions. But you are tired and exasperated too. You have every right to be. The problem isn't how this woman can rent a new apartment (which there isn't a good way that won't screw over some unsuspecting landlord) but how to get this woman into conseling on a regular basis. Not just money, but personal or group therapy. She honestly needs help and must face this problem herself otherwise these questions will never stop. I know you mentioned this doesn't appear to be an option, anf maybe it isn't your job, but I. See your questions are much deeper than personal finance. I wish you the best and I really do admire your resolve to take care of your kids.",
"title": ""
},
{
"docid": "92ce680ef1738f5e0d4afad87c894b3d",
"text": "You should consider using a lawyer as your agent. We once talked to one who was willing to act as our agent for a fixed fee. Not all attorneys can do it where we live, but there are plenty that can. We ended up going another route, but since then we have found a seller's agent that charges us a fixed fee of one thousand dollars (a great deal for us). We are using her again right now. It's all about the contract. Whatever you can legally negotiate is possible - which is yet another reason to consider finding a real estate attorney.",
"title": ""
},
{
"docid": "ab1b986aceb22af56dd4d63f241e7f25",
"text": "\"Based on the information you gave, there are dozens if not hundreds of possible theories one could spin about the rental market. Sure, it's possible that there are no listings because rental units on this street are quickly snapped up. On the other hand, it's also possible that there are no listings because almost all the buildings on the street have been abandoned and, aside from this one property that someone is tying to sell you, the rest of the street is inhabited only by wild dogs and/or drug dealers. Or maybe the street is mostly owner-occupied, i.e. the properties are not being rented to anyone. Or maybe it's a commercial district. Or maybe craigslist isn't popular with people who own property on this street for whatever reason. Maybe Syracuse has a city ordinance that says property must be advertised in the newspaper and not on websites, for all I know. Or maybe you missed it because nobody in Syracuse calls it \"\"housing for rent\"\", they all call it \"\"apartments for rent\"\" or \"\"houses for rent\"\" or some local phrase. Or ... or ... or. Before I bought a property, I'd do more research than one search on one web site. Have you visited the property? I don't know how much you're preparing to invest, I have no idea what property prices are in Syracuse, but I'd guess it's at least tens of thousands of dollars. Surely worth making the drive to Syracuse to check it out before buying.\"",
"title": ""
},
{
"docid": "6ae94110f133d0d5af7ba097cc0a9c03",
"text": "For example: do I need a realtor, or can I do their job myself? In general in the United States the real estate agent fee is paid by the seller of the property. Their agent will be more than happy keep the entire fee if they don't have to split it with your agent. If you don't have an agent you will be missing somebody who can help you find the property that meets your needs. They can also help explain what the different parts of the contract mean and give you advice regarding making an offer. Do I need to pay for an inspection, or am I likely to save enough money from skipping it to cover potential problems that they would have caught? Inspections are optional. Though the amount you are risking is the entire value of the purchase. If the property has a problem in the foundation, or the septic system, or the plumbing or electrical the cost to fix the issue could render the purchase not worth doing. If you discover the problem a year later and you have to repair the house and have to find temporary housing for a few months, you will regret skipping the inspection. What are some of the ways I can cut expenses on closing costs? Is there any low-hanging fruit? You need to do your homework. When you are ready to purchase a property take good look at the good faith estimate and look at each item. Ask them what the expense covers. Push back against those that seem optional or excessive. Keep in mind that moving the closing date from the end of a month to the start of the next month only changes the timing those charges, it doesn't really save you money. Rolling the costs into the loan sound easy but you have to think about. It means that you will be paying interest on those charges for the life of the loan. It is good that you are starting to think about all the costs.",
"title": ""
},
{
"docid": "846c2a6f3828a150a5d171fa47615fac",
"text": "Hey, to be a bit more personal, I'm in a similar situation (albeit houses near me are all like $300k for a shack). Don't rush into a house that will make you miserable, either because it's crap, or because it'll cost you an arm and a leg and your firstborn. It's perfectly fine to rent another year or two and build up your downpayment, credit history, and credit score.",
"title": ""
},
{
"docid": "ab0bc2c7f8d74746d382d1369934cd53",
"text": "I just did this with a potential tenant. She said she was in her spot 5 years and wanted to move to a nicer place. She talked about money, her jobs, her habits. It wasn't until my second conversation that I picked up she was nervous because this was a big move for her.",
"title": ""
},
{
"docid": "19137c44685a4860a96f90c81b0b7213",
"text": "\"Frankly, I was just listing off reasons that I and others might be pissed off at our landlords. Yeah, I've lived in student-focused housing too, and student rentals suck balls. Hell, that's the reason I wound up in the \"\"upscale\"\" city of Cambridge instead of living in the \"\"cheaper\"\" young-people areas of Allston or Brighton: because those places have had their rents pushed up by students *way* beyond what it's worth paying for a tiny, near-windowless, roach-infested hole built in the 1940s with rats running free in the streets. And yeah, I understand that those places suck so bad because many students are shitty tenants. But my real point was: my landlord doesn't provide me a place to live, he charges me ever-increasing rent for a place to live that he didn't build, maintains to the minimum required by the lease, and doesn't ever upgrade.\"",
"title": ""
},
{
"docid": "f7ad907dd87e12d49020535a15fb6995",
"text": "In Phoenix you can get a two bedroom for $600/mo in an okay neighborhood if you know where/when to look, and a bit cheaper if you're willing to go a bit skeezier. Since we are talking minimum wage, you should be hopefully be able to find a job within biking distance (or, if you live in Tempe, take the free bus.) Have one person work mornings and the other work evenings/nights and you don't need daycare. (Other options: have them stay with a nearby family member, trade off watching the kids with other working families, or go for a three bedroom, grab a family member, and have someone work a 20-hr week instead.) Electricity averages to something like $100/mo over the course of the year (my high was about $150, low was around $40 in a two-bedroom.) So ~$700/mo for shelter, maybe $30/mo for a bus pass. That's $730/mo. I'm not saying it would be comfortable, but it can be done.",
"title": ""
},
{
"docid": "4bbabfbd9e194fcd9a3fcd566cc2d9c1",
"text": "\"I don't know what country you live in or what the laws and practical circumstances of owning rental property there are. But I own a rental property in the U.S., and I can tell you that there are a lot of headaches that go with it. One: Maintenance. You say you have to pay an annual fee of 2,400 for \"\"building maintenance\"\". Does that cover all maintenance to the unit or only the exterior? I mean, here in the U.S. if you own a condo (we call a unit like you describe a \"\"condo\"\" -- if you rent it, it's an apartment; if you own it, it's a condo) you typically pay an annual fee that cover maintenance \"\"from the walls out\"\", that is, it covers maintenance to the exterior of the building, the parking lot, any common recreational areas like a swimming pool, etc. But it doesn't cover interior maintenance. If there's a problem with interior wiring or plumbing or the carpet needs to be replaced or the place needs painting, that's up to you. With a rental unit, those expenses can be substantial. On my rental property, sure, most months the maintenance is zero: things don't break every month. But if the furnace needs to be replaced or there's a major plumbing problem, it can cost thousands. And you can get hit with lots of nitnoid expenses. While my place was vacant I turned the water heater down to save on utility expenses. Then a tenant moved in and complained that the water heater didn't work. We sent a plumber out who quickly figured out that she didn't realize she had to turn the knob up. Then of course he had to hang around while the water heated up to make sure that was all it was. It cost me, umm, I think $170 to have someone turn that knob. (But I probably saved over $15 on the gas bill by turning it down for the couple of months the place was empty!) Two: What happens when you get a bad tenant? Here in the U.S., theoretically you only have to give 3 days notice to evict a tenant who damages the property or fails to pay the rent. But in practice, they don't leave. Then you have to go to court to get the police to throw them out. When you contact the court, they will schedule a hearing in a month or two. If your case is clear cut -- like the tenant hasn't paid the rent for two months or more -- you will win easily. Both times I've had to do this the tenant didn't even bother to show up so I won by default. So then you have a piece of paper saying the court orders them to leave. You have to wait another month or two for the police to get around to actually going to the unit and ordering them out. So say a tenant fails to pay the rent. In real life you're probably not going to evict someone for being a day or two late, but let's say you're pretty hard-nosed about it and start eviction proceedings when they're a month late. There's at least another two or three months before they're actually going to be out of the place. Of course once you send them an eviction notice they're not going to pay the rent any more. So you have to go four, five months with these people living in your property but not paying any rent. On top of that, some tenants do serious damage to the property. It's not theirs: they don't have much incentive to take care of it. If you evict someone, they may deliberately trash the place out of spite. One tenant I had to evict did over $13,000 in damage. So I'm not saying, don't rent the place out. What I am saying is, be sure to include all your real costs in your calculation. Think of all the things that could go wrong as well as all the things that could go right.\"",
"title": ""
},
{
"docid": "62e4e23c542eb03876d301f4dbd2584b",
"text": "I've done this, both as one of the renters and (in a different house) as the landlord. I had roommates I had not lived with before though. It's definitely doable, but can get awkward. Some advice in no particular order Make sure you can afford the house on your own. This avoids the awkward situation of making you financially dependent on your friends. Also, it shouldn't be a problem for a 110k house on a 70k salary. Set the rent below market rates. The arrangement should be financially beneficial to everyone, not just yourself. Expect your roommates to leave eventually. These days people will go where job opportunities take them.",
"title": ""
},
{
"docid": "396cf4f9e48af1691a4698047bf15b23",
"text": "\"Seriously. I can't tell you how many times I hear this scenario: Kid graduates college; kid runs out and signs lease on apartment \"\"because that's what you do\"\"**; kid complains that he's in financial trouble and can't make ends meet. Housemate sharing is most famously displayed in hit shows like Big Bang Theory or New Girl. They get a much nicer place with better furnishings for way less money. (However don't hook up with close neighbors or friends of other housemates, they do it for awkward laughs but it really results in awkward departure.) It's more financially responsible. It means the rest of your financial life will have more slack. And when you move, obviously, it's no big deal, you just give all the notice you can, and go to the next town and find another housemate share. ** I suspect a very significant factor is bringing home dates. Well, there's nothing sexy about taking your date to McDonalds because you can't afford anything more. See those shows... it works fine, you just have to be sensible about housemate choices. Pick housemates who view things the same way, and who themselves are invested in making the shared space attractive, and aren't going to mind some ...activities... once in awhile.\"",
"title": ""
},
{
"docid": "91fa8adecec3d85a8d239f24f373c472",
"text": "I don't still have an account there, but ING Direct used to do that for you. They would set it so money would be freed up every 6 months but after a while you would have like 5-year ones to maximize returns.",
"title": ""
}
] | fiqa |
ff8c050b9d122a67cbda18cbe07fd862 | Where to find out conversion ratio between General Motors bonds and new GM stock? | [
{
"docid": "03a783452b4908e9fcc071843916546c",
"text": "Depending on the specific bond, here is the official info. http://www.wilmingtontrust.com/gmbondholders/index.html Bottom line, it won't be determined for a while yet, as the filing with the Bankruptcy Court still has lots of blanks.",
"title": ""
},
{
"docid": "2c7408482f9d6197e92aa8f2758cbc91",
"text": "I would imagine that as a holder you will receive information in the post when it's made public, but I don't think it's been decided yet. This thread on the Motley Fool boards is keeping an eye on them - you might want to keep an eye on the thread.",
"title": ""
},
{
"docid": "32c2716abf18c9873139c68bc1960ebb",
"text": "Looks like the result got decided recently, with a little uncertainty about exactly how much is the total allowed claims: http://www.wilmingtontrust.com/gmbondholders/plan_disclosure.html http://www.wilmingtontrust.com/gmbondholders/pdf/GUC_Trust_Agreement.pdf They give the following example: Accordingly, pursuant to Section 5.3 of the GUC Trust Agreement, a holder of a Disputed Claim in the Amount of $2,000,000 that was Allowed in the amount of $1,000,000 (A) as of the end of the first calendar quarter would receive: Corresponding to the Distribution to the Holders of Initial Allowed Claims: Corresponding to the First Quarter Distribution to Holders of Units: Total:",
"title": ""
}
] | [
{
"docid": "af78c4c4186788dd4ac2f120b3c02a17",
"text": "Bonds are extremely illiquid and have traditionally traded in bulk. This has changed in recent years, but bonds used to be traded all by humans not too long ago. Currently, price data is all proprietary. Prices are reported to the usual data terminals such as Bloomberg, Reuters, etc, but brokers may also have price gathering tools and of course their own internal trade history. Bonds are so illiquid that comparable bonds are usually referenced for a bond's price history. This can be done because non-junk bonds are typically well-rated and consistent across ratings.",
"title": ""
},
{
"docid": "12226cbcd9d23ce4d27dc0efef65eece",
"text": "Don't have access to a Bloomberg, Eikon ect terminal but I was wondering if those that do know of any functions that show say, the percentage of companies (in different Mcap ranges) held by differing rates institutionally. For example - if I wanted to compare what percentage of small cap companies' shares are 75% or more held by institutions relative to large cap companies what could I search in the terminal?",
"title": ""
},
{
"docid": "e3c2a7eda895cea7c4aa4b482fc9f5e9",
"text": "Hey desquinbnt & pontsone, I had an explanation written up about Share and Bond evaluation and in which, one share evaluation technique utilizes the P/E ratio - hence I explained it. Have a read, if you'd want me to go more in depth, let me know! :) http://letslearnfinance.net/2012/06/09/introduction-to-bonds-and-share-valuation/",
"title": ""
},
{
"docid": "89c2990dfb7720502059f4fcbbbfa872",
"text": "I dont know if this data is available for the 1980s, but this response to an old question of mine discusses how you can pull stock related information from google or yahoo finance over a certain period of time. You could do this in excel or google spreadsheet and see if you could get the data you're looking for. Quote from old post: Google Docs spreadsheets have a function for filling in stock and fund prices. You can use that data to graph (fund1 / fund2) over some time period.",
"title": ""
},
{
"docid": "b30bd7a9465bf07e15893e3617051654",
"text": "\"I am doing an assignment for a finance class, and I am writing a recommendation for a specific capital structure. One of the concerns brought up by the \"\"board of directors\"\" was interest coverage, so in my addressing that topic in my report, I want to compare to competitors. The interest coverage ratio under this capital structure that I'm choosing is 11.8 and the two competitors we are given information on are Company A (who has an interest coverage ratio of 6.67) and Company B (who has an interest coverage ratio of 11.25). It seems good, but my concern is that I may be missing something, as Company A is similar in size (in terms of sales) to the company I am writing a report for while Company B has ~50 times more sales than the company I am writing a report for. Advice, things to consider as I move forward?\"",
"title": ""
},
{
"docid": "ff68b09fef2ab83c41d8cf7759d12c2c",
"text": "The point of that question is to test if the user can connect shares and stock price. However, that being said yeah, you're right. Probably gives off the impression that it's a bit elementary. I'll look into changing it asap.",
"title": ""
},
{
"docid": "9ce676212f9a76f4a1caaaed0e929408",
"text": "\"ycharts.com has \"\"Weighted Average PE Ratio\"\" and a bunch of other metrics that are meant to correspond to well known stock metrics. Other websites will have similar ratios.\"",
"title": ""
},
{
"docid": "1109a029b9265828ac0b300a07184763",
"text": "\"This is \"\"incentive financing\"\". Simply put, the car company isn't in the business of making money by buying government bonds. They're in the business of making money by selling cars. If you are \"\"qualified\"\" from a credit standpoint, and want to buy a $20k car on any given Sunday, you'll typically be offered a loan of between 6% and 9%. Let's say this loan is for three years and you can offer $4000 down payment and/or trade. The required monthly payment on the remaining $16k at the high end of 9% is $508.80, which over 3 years means you'll pay $2,316.64 in interest. Now, that may sound like a good chunk of change, and for the ordinary individual, it is, possibly enough that you decide not to buy today. Now, let's say, all other things being equal, that the company is offering 0.9% incentive financing. Same price, same down payment, same loan term. Your payments over 3 years decrease to $450.64, and over the same loan term you would only pay $222.97 in interest. You save over $2,093.67 in interest over three years, which for you is again a decent chunk of change. Theoretically, the car company's losing that same $2,093.67 in interest by offering this deal, and depending on how it's getting the money it lends you (most financial companies are middlemen, getting money from bond-buying investors who expect a rate of return), that could be a real loss and not just opportunity cost. But, that incentive got you to walk in their door, and not their competitor's. It helped convince you to buy the $20,000 car. The gross margin on that car (price minus direct costs) is typically 20% for the dealer, plus another 20% for the manufacturer, so by giving up the $2,000 on the financing side, the dealer and manufacturer just earned themselves 4 times that much. On top of that, by buying that car, you're committing to buy the parts for the car, a side business with even higher margins, of which the car company gets a pretty big chunk. You may even be required to use dealer service while the car's under warranty in order to keep the warranty valid, another cha-ching. When you get right down to it, the loss from the incentive financing is drowned in the gross profits they make from selling the car to you. Now, in reality, it's a fine balance. The percentages I mentioned are gross margins (EBITDASG&A - Earnings Before Interest, Taxes, Depreciation, Amortization, Sales, General and Administrative costs; basically, just revenue minus direct cost of goods sold). Add in all these side costs and you get a net margin of only about 3.5% of revenue, so your $20k car purchase may only make the car company's stakeholders $700 on the sale, plus slightly higher net margins on parts and service over the life of the car. Because incentive financing is typically only offered through the company's own financing subsidiary, the loss isn't in the form of a cost paid, but simply a revenue not realized, but it can still move a car company from net positive to net negative earnings if the program is too successful. This is why not everyone does it, and not all at the same time; if you're selling enough cars without it, why give away money? Typically, these incentives are offered for two reasons; to clear out old cars or excess inventory, or to maintain ground against a competitor's stronger sales numbers. Keeping cars on a lot ready to sell is expensive, and so is not having your brand driving around on the street turning heads and imprinting their name on the minds of potential customers.\"",
"title": ""
},
{
"docid": "8b16542ff6aa0d91ed303490a3691bc1",
"text": "You could use the Gordon growth model implied expected return: P = D/(r-g) --> r = D/P (forward dividend yield) + g (expected dividend growth). But obviously there is no such thing as a good market return proxy.",
"title": ""
},
{
"docid": "7087e71e1c3391d3fe316d13337cd21b",
"text": "In addition to the GE move, Buffett's firm also added a large share of Synchrony, equalling about $520.7 in value, and a $418.1 million stake in Store Capital. So, they bought one regular sized share? This is Why BI-journalists doesnt work in IB...",
"title": ""
},
{
"docid": "77f2fb35a2beff9e1f1c485393fb6fd7",
"text": "\"Hey guys I have a quick question about a financial accounting problem although I think it's not really an \"\"accounting\"\" problem but just a bond problem. Here it goes GSB Corporation issued semiannual coupon bonds with a face value of $110,000 several years ago. The annual coupon rate is 8%, with two coupons due each year, six months apart. The historical market interest rate was 10% compounded semiannually when GSB Corporation issued the bonds, equal to an effective interest rate of 10.25% [= (1.05 × 1.05) – 1]. GSB Corporation accounts for these bonds using amortized cost measurement based on the historical market interest rate. The current market interest rate at the beginning of the current year on these bonds was 6% compounded semiannually, for an effective interest rate of 6.09% [= (1.03 × 1.03) – 1]. The market interest rate remained at this level throughout the current year. The bonds had a book value of $100,000 at the beginning of the current year. When the firm made the payment at the end of the first six months of the current year, the accountant debited a liability for the exact amount of cash paid. Compute the amount of interest expense on these bonds for the last six months of the life of the bonds, assuming all bonds remain outstanding until the retirement date. My question is why would they give me the effective interest rate for both the historical and current rate? The problem states that the firm accounts for the bond using historical interest which is 10% semiannual and the coupon payments are 4400 twice per year. I was just wondering if I should just do the (Beginning Balance (which is 100000 in this case) x 1.05)-4400=Ending Balance so on and so forth until I get to the 110000 maturity value. I got an answer of 5474.97 and was wondering if that's the correct approach or not.\"",
"title": ""
},
{
"docid": "7d9fd9278d1df7eff6f2b32d543ed49d",
"text": "I've had luck finding old stock information in the Google scanned newspaper archives. Unfortunately there does not appear to be a way to search exactly by date, but a little browsing /experimenting should get what you want. For instance, here's a source which shows the price to be 36 3/4 (as far as I can read anyway) on that date.",
"title": ""
},
{
"docid": "5db2500544c713428b4b849702c8e351",
"text": "In order to see whether you can buy or sell some given quantity of a stock at the current bid price, you need a counterparty (a buyer) who is willing to buy the number of stocks you are wishing to offload. To see whether such a counterparty exists, you can look at the stock's order book, or level two feed. The order book shows all the people who have placed buy or sell orders, the price they are willing to pay, and the quantity they demand at that price. Here is the order book from earlier this morning for the British pharmaceutical company, GlaxoSmithKline PLC. Let's start by looking at the left-hand blue part of the book, beneath the yellow strip. This is called the Buy side. The book is sorted with the highest price at the top, because this is the best price that a seller can presently obtain. If several buyers bid at the same price, then the oldest entry on the book takes precedence. You can see we have five buyers each willing to pay 1543.0 p (that's 1543 British pence, or £15.43) per share. Therefore the current bid price for this instrument is 1543.0. The first buyer wants 175 shares, the next, 300, and so on. The total volume that is demanded at 1543.0p is 2435 shares. This information is summarized on the yellow strip: 5 buyers, total volume of 2435, at 1543.0. These are all buyers who want to buy right now and the exchange will make the trade happen immediately if you put in a sell order for 1543.0 p or less. If you want to sell 2435 shares or fewer, you are good to go. The important thing to note is that once you sell these bidders a total of 2435 shares, then their orders are fulfilled and they will be removed from the order book. At this point, the next bidder is promoted up the book; but his price is 1542.5, 0.5 p lower than before. Absent any further changes to the order book, the bid price will decrease to 1542.5 p. This makes sense because you are selling a lot of shares so you'd expect the market price to be depressed. This information will be disseminated to the level one feed and the level one graph of the stock price will be updated. Thus if you have more than 2435 shares to sell, you cannot expect to execute your order at the bid price in one go. Of course, the more shares you are trying to get rid of, the further down the buy side you will have to go. In reality for a highly liquid stock as this, the order book receives many amendments per second and it is unlikely that your trade would make much difference. On the right hand side of the display you can see the recent trades: these are the times the trades were done (or notified to the exchange), the price of the trade, the volume and the trade type (AT means automatic trade). GlaxoSmithKline is a highly liquid stock with many willing buyers and sellers. But some stocks are less liquid. In order to enable traders to find a counterparty at short notice, exchanges often require less liquid stocks to have market makers. A market maker places buy and sell orders simultaneously, with a spread between the two prices so that they can profit from each transaction. For instance Diurnal Group PLC has had no trades today and no quotes. It has a more complicated order book, enabling both ordinary buyers and sellers to list if they wish, but market makers are separated out at the top. Here you can see that three market makers are providing liquidity on this stock, Peel Hunt (PEEL), Numis (NUMS) and Winterflood (WINS). They have a very unpalatable spread of over 5% between their bid and offer prices. Further in each case the sum total that they are willing to trade is 3000 shares. If you have more than three thousand Dirunal Group shares to sell, you would have to wait for the market makers to come back with a new quote after you'd sold the first 3000.",
"title": ""
},
{
"docid": "57fb897c059fe117bf76781c5306adb8",
"text": "\"Thanks for the response. I am using WRDS database and we are currently filtering through various variables like operating income, free cash flow etc. Main issue right now is that the database seems to only go up to 2015...is there a similar database that has 2016 info? filtering out the \"\"recent equity issuance or M&A activity exceeding 10% of total assets\"\" is another story, namely, how can I identify M&A activity? I suppose we can filter it with algorithm stating if company's equity suddenly jumps 10% or more, it get's flagged\"",
"title": ""
},
{
"docid": "78c1dad9e8e61a6da10385bf32fbcf66",
"text": "Let's assume that the bonds have a par value of $1,000. If conversion happens, then one bond would be converted into 500 shares. The price in the market is unimportant. Regardless of the share price in the market, the income per share would be increased by the absence of $70 in interest expense. It would be decreased by the lost tax deduction. It would be further diluted by the increase in 500 shares. Likewise, the debt would be extinguished and the equity section increased. Whether it increased or decreased on a per share basis would depend upon the average amount paid in per share in the currently existing structure, adjusted for changes in retained earnings since the initial offering and for any treasury shares. There would be a loss in value, generally, if it is trading far from $2.00 because it would be valued based on the market price. Had the bond not converted, it would trade in the market as a pure bond if the stock price is far below the strike price and as an ordinary pure bond plus a premium if near enough to the strike price in a manner that depends upon the time remaining under the conversion privilege. I cannot think of a general case where someone would want to convert below strike and indeed, barring a very strange tax, inheritance or legal situation (such as a weird divorce), I cannot think of a case where it would make sense. It often does not make sense to convert far from maturity either as the option premium only vanishes well above $2. The primary case for conversion would be where the after-tax dividend is greater than the after-tax interest payment.",
"title": ""
}
] | fiqa |
20e3e2e07517c31c3db202d71cd160ab | Hdgs to be removed from the S&P/ASX Indices | [
{
"docid": "dfd51b3ed342ca374cd054ca6b806335",
"text": "As I said in the comments, from the SMH article, you will get $3.30 per share you hold in Wotif. The bit about Wotif veing replaced in the S&P ASX200 index by another company has no impact on your shares in Wotif. It just means that the index (the amalgamation of 200 companies) will have one drop out (Wotif) and another replace it (Healthscope).",
"title": ""
}
] | [
{
"docid": "c287e5af3ece0bb6ceabfbf809e21f8e",
"text": "There are a number of ways this can result. In a broad ETF, such as SPY, the S&P 500 spider, the S&P index will have 500 stocks no matter what, so a buyout would simply result in a re-shuffling of the index makeup. No buyout will happen so quickly that there's no time to choose the next stock to join the index. In your case, if the fund manager (per the terms of the prospectus) wishes to simply reallocate the index to remove the taken-over stock that's probably how he handle it. Unless of course, the prospectus dictates otherwise. In which case, a cash dividend is a possible alternative.",
"title": ""
},
{
"docid": "2a9ccb93058b7630955699cdcd88ddbd",
"text": "This may make Australian exports cheaper, which can be a good thing. However it is at the expense of making imports more expensive. Look to Japan, which is devaluing their currency, and is a large importer of energy: I wont say its bad or unnecessary to hold money in other currencies. However, keep in mind that all AUD-denominated assets will, or at least should, rise as the currency falls. If just AUD/USD falls this may not apply, but if AUD is weakened all around it should hold true. Again, look to Japan, where the Nikkei is closely correlated with the strength of the yen: Another possibility is to buy gold which should rise in AUD terms but other forces are at work with gold price so some would not agree with this.",
"title": ""
},
{
"docid": "f4303dc4fdce909f8af8b9e3d983cc1f",
"text": "Because the distribution date was APR 21, 2011, THAT should be the correct date for ascertainng the stock prices of the GM stock and warrants. The subsequent distributions after April should also be allocated in accordance with their distribution dates, with tax basis being reduced from the original APR 21st date's allocations, and reallocated to those subsequent distributions, taking into account any interim sales you might have made.",
"title": ""
},
{
"docid": "43ebac4a47c1dd39672ccb1576d136ca",
"text": "I'd call it pretty worrisome. HOOB is trading over the counter, in fact, on the pink sheets, so it has been delisted from the major exchanges. It appears that it lacks recent financial disclosures. You'll have to investigate to see if you think it's worth keeping, but trading is thin.",
"title": ""
},
{
"docid": "9d9cfa352ce07f9aa89d06d2a710373e",
"text": "I don't see it in any of the exchange feeds I've gone through, including the SIPs. Not sure if there's something wrong with Nasdaq Last Sale (I don't have that feed) but it should be putting out the exact same data as ITCH.",
"title": ""
},
{
"docid": "62fce22d874701280896565f7ce28c74",
"text": "\"Pension- and many \"\"low-risk\"\" investment funds may only invest in AAA-rated stocks and bonds. While the S&P rating alone doesn't imply that such funds must immediately disinvest in US bonds (Fitch and Moody's are holding), it does create the risk that the other rating agencies will follow suite and also lower the US rating. As the largest issuer of bonds, controller of the world's reserve currency, and with many emerging markets placing almost all their current account surpluses in US bonds, this risk change has implications everywhere. Some companies will already start disinvestment while some investors will start demanding higher interest returns in order to buy US bonds. It isn't yet a stampede, but the gates are now open. That said, S&P is simply reflecting the opinions of bond traders. Markets were already unstable long before the downrating. However, from the US perspective, it is a timely reminder to politicians that the global balance is shifting and that the US cannot count on incumbency to protect it from the disapproval of financial analysts.\"",
"title": ""
},
{
"docid": "11039963d89778913a087c6edd322ab5",
"text": "\"This is the best tl;dr I could make, [original](http://www.afr.com/business/banking-and-finance/financial-services/maurice-blackburn-weighs-cba-class-action-20170823-gy235k) reduced by 84%. (I'm a bot) ***** > Law firm Maurice Blackburn and ASX-listed litigation funder IMF Bentham are preparing to launch a class action against Commonwealth Bank of Australia alleging failures to disclose to the stockmarket AUSTRAC&#039;s investigation of its anti money laundering shortcomings. > Disclosure should have been as early as August 17, 2015, the class action will argue - the date CBA released its annual report and a retail booklet for a $5 billion rights issue. > CBA has around 800,000 retail shareholders but under class action law, only those who purchased shares and held some of them during the period of alleged non-disclosure will be able to participate in the action. ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/6vikty/maurice_blackburn_weighs_cba_class_action/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ \"\"Version 1.65, ~196808 tl;drs so far.\"\") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr \"\"PM's and comments are monitored, constructive feedback is welcome.\"\") | *Top* *keywords*: **CBA**^#1 **action**^#2 **class**^#3 **AUSTRAC**^#4 **case**^#5\"",
"title": ""
},
{
"docid": "545e9e42cce983a37760a9ff4bb41ede",
"text": "I tried direct indexing the S&P500 myself and it was a lot of work. Lots of buys and sells to rebalance, tons of time in spreadsheets running calculations/monitoring etc, dealing with stocks being added or removed from the index, adding money (inflows). Etc. All of the work is the main reason I stopped. I came to realize the 0.05% I pay Vanguard is a great deal.",
"title": ""
},
{
"docid": "def648b0f1e2398f7fe7edaa820838d7",
"text": "I would not sell unless the stock is starting to fall in price. If you are a long term investor you can review the weekly chart on a weekly basis to determine if the stock is still up-trending. Regarding HD below is a weekly chart for the last 4 years: Basically if the price is making Higher Highs (HH) and Higher Lows (HL) it is up-trending. If it starts to make Lower Lows (LL) followed by Lower Highs (LH) then the uptrend is over and the stock could be entering a downtrend. With HD, the price has been up-trending but seems to now be hitting some headwinds. It has been making some HHs followed by some HLs throughout the last 2 years. It did make a LL in late August 2015 but then recovered nicely to make a new HH, so the uptrend was not broken. In early November 2016 it made another LL but this time it seems to be followed by a LH in mid-December 2016. This could be clear evidence that the uptrend may be ending. The final confirmation would be if the price drops below the early November low of $119.20 (the orange line). If price drops below this price it would be confirmation that the uptrend is over and this should be the point at which you should sell your HD shares. You could place an automatic stop loss order just below $119.20 so that you don't even need to monitor the stock frequently. Another indication that the uptrend may be in trouble is the divergence between the HHs of the price and the peaks of a momentum indicator (in this case the MACD). The two sloping red lines show that the price made HHs in April and August 2016 whilst the momentum indicator made LHs at these peaks in the price. As the lines are sloping in different directions it is demonstrating negative divergence, which means that the momentum of the uptrend is slowing down and can act as an early warning system to be more cautious in the near future. So the question you could be asking is when is a good time to sell out of HD (or at least some of your HD to rebalance)? Why sell something that is still increasing in price? Only sell if you can determine that the price will not be increasing anymore in the near to medium term.",
"title": ""
},
{
"docid": "57fb897c059fe117bf76781c5306adb8",
"text": "\"Thanks for the response. I am using WRDS database and we are currently filtering through various variables like operating income, free cash flow etc. Main issue right now is that the database seems to only go up to 2015...is there a similar database that has 2016 info? filtering out the \"\"recent equity issuance or M&A activity exceeding 10% of total assets\"\" is another story, namely, how can I identify M&A activity? I suppose we can filter it with algorithm stating if company's equity suddenly jumps 10% or more, it get's flagged\"",
"title": ""
},
{
"docid": "2d542d9c12741601382214e526bfc569",
"text": "One more effect that's not yet been mentioned is that companies based in Australia and listed on the Australian Securities Exchange, but which do most of their business overseas, will increase their earnings in AU$, since most of what they earn will be in foreign currencies. So their shares are likely to appreciate (in AU$).",
"title": ""
},
{
"docid": "b7bbbba72cb8dc5b8dcf6cba5fd65700",
"text": "The S&P 500 is a market index. The P/E data you're finding for the S&P 500 is data based on the constituent list of that market index and isn't necessarily the P/E ratio of a given fund, even one that aims to track the performance of the S&P 500. I'm sure similar metrics exist for other market indexes, but unless Vanguard is publishing it's specific holdings in it's target date funds there's no market index to look at.",
"title": ""
},
{
"docid": "813858cf2f0c16b3f5c4ca408f424b67",
"text": "Like in the US, more flexibility is extended to hidden orders. Australia has taken an aggressive approach to hidden orders in the direction of lower ticks. Aussies have a rich financial that evolved differently than the Dutch custom more familiarly known in the UK and US. They, like Chicago evolved out of commodities trade rather than trade. When commodities are worth nearly nothing per unit, larger precision comes naturally. For the Dutch, it was the opposite. A single ship would trade in 1/64 share or for the largest vessels, 1/128 share. Here, there's no point to high precision. New York, founded by the Dutch specialized in logistics just the same. To a man with a hammer, everything looks like a nail, so both Chicago, Australia, and other financial systems built by commodities rather than trade have extended the higher precision logic to everything else, and pricing is fantastic. It should not be a surprise why Australia has taken a lead in pushing infinite precision.",
"title": ""
},
{
"docid": "c5baeb8780d8466112dbb69e6084318a",
"text": "Assuming you purchased shares that were granted at a discount under the ESPP the 50% exemption would not apply. It's pretty unusual to see a US parent company ESPP qualify for the 110(1)(d) exemption, as most US plans provide for a discount",
"title": ""
},
{
"docid": "a6b6f34e6af19228c13d0ee80944cdd1",
"text": "Interesting, but I don't think we are talking the same thing. This seems to say that that the fund itself doesn't have the rule applied: I.E. the MF can't get hit with the 5% commission when you buy it. That makes sense. What I'm asking though is that when my (say) American Fund that I own already does a rebalance, the constituent holdings change. Those securities are not exempt from the rule and thus when they are transacted can have commissions applied. As a matter of fact the broker for those securities has no idea if the fund is eligible or not. Where did you get this from? As I'm. It studying for a series 7 I'm probably missing some foundational sources.",
"title": ""
}
] | fiqa |
fa571526cb342d943c64a5ce61bb7198 | ETF vs Mutual Fund: How to decide which to use for investing in a popular index? | [
{
"docid": "39492e88918af1379b36febbe48059de",
"text": "The factors to consider:",
"title": ""
},
{
"docid": "aa0ef326df4465ff87ce2aea2d17493a",
"text": "What is your time horizon? Over long horizons, you absolutely want to minimise the expense ratio – a seemingly puny 2% fee p.a. can cost you a third of your savings over 35 years. Over short horizons, the cost of trading in and trading out might matter more. A mutual fund might be front-loaded, i.e. charge a fixed initial percentage when you first purchase it. ETFs, traded daily on an exchange just like a stock, don't have that. What you'll pay there is the broker commission, and the bid-ask spread (and possibly any premium/discount the ETF has vis-a-vis the underlying asset value). Another thing to keep in mind is tracking error: how closely does the fond mirror the underlying index it attempts to track? More often than not it works against you. However, not sure there is a systematic difference between ETFs and funds there. Size and age of a fund can matter, indeed - I've had new and smallish ETFs that didn't take off close down, so I had to sell and re-allocate the money. Two more minor aspects: Synthetic ETFs and lending to short sellers. 1) Some ETFs are synthetic, that is, they don't buy all the underlying shares replicating the index, actually owning the shares. Instead, they put the money in the bank and enter a swap with a counter-party, typically an investment bank, that promises to pay them the equivalent return of holding that share portfolio. In this case, you have (implicit) credit exposure to that counter-party - if the index performs well, and they don't pay up, well, tough luck. The ETF was relying on that swap, never really held the shares comprising the index, and won't necessarily cough up the difference. 2) In a similar vein, some (non-synthetic) ETFs hold the shares, but then lend them out to short sellers, earning extra money. This will increase the profit of the ETF provider, and potentially decrease your expense ratio (if they pass some of the profit on, or charge lower fees). So, that's a good thing. In case of an operational screw up, or if the short seller can't fulfil their obligations to return the shares, there is a risk of a loss. These two considerations are not really a factor in normal times (except in improving ETF expense ratios), but during the 2009 meltdown they were floated as things to consider. Mutual funds and ETFs re-invest or pay out dividends. For a given mutual fund, you might be able to choose, while ETFs typically are of one type or the other. Not sure how tax treatment differs there, though, sorry (not something I have to deal with in my jurisdiction). As a rule of thumb though, as alex vieux says, for a popular index, ETFs will be cheaper over the long term. Very low cost mutual funds, such as Vanguard, might be competitive though.",
"title": ""
},
{
"docid": "162d2a7ad9d5eafea67b74c1c5ec389c",
"text": "If you just want to track an index, then ETFs are, generally speaking, the better way.",
"title": ""
}
] | [
{
"docid": "767b1dc8168c2f5921549d593189f0dc",
"text": "\"One reason is that it is not possible (at Vanguard and at many other brokerages) to auto-invest into ETFs. Because the ETF trades like a stock, you typically must buy a whole number of shares. This makes it difficult to do auto-investing where you invest, say, a fixed dollar amount each month. If you're investing $100 and the ETF trades for $30 a share, you must either buy 3 shares and leave $10 unspent, or buy 4 and spend $20 more than you planned. This makes auto-investing with dollar amounts difficult. (It would be cool if there were brokerages that handled this for you, for instance by accumulating \"\"leftover\"\" cash until an additional whole share could be purchased, but I don't know of any.) A difference of 0.12% in the expense ratios is real, but small. It may be outweighed by the psychological gains of being able to adopt a \"\"hands-off\"\" auto-investing plan. With ETFs, you generally must remember to \"\"manually\"\" buy the shares yourself every so often. For many average investors, the advantage of being able to invest without having to think about it at all is worth a small increase in expense ratio. The 0.12% savings don't do you any good if you never remember to buy shares until the market is already up.\"",
"title": ""
},
{
"docid": "78324133f5ee24f7ae0dc6de65f65c25",
"text": "I strongly suggest you go to www.investor.gov as it has excellent information regarding these types of questions. A mutual fund is a company that pools money from many investors and invests the money in securities such as stocks, bonds, and short-term debt. The combined holdings of the mutual fund are known as its portfolio. Investors buy shares in mutual funds. Each share represents an investor’s part ownership in the fund and the income it generates. When you buy shares of a mutual fund you're buying it at NAV, or net asset value. The NAV is the value of the fund’s assets minus its liabilities. SEC rules require funds to calculate the NAV at least once daily. Different funds may own thousands of different stocks. In order to calculate the NAV, the fund company must value every security it owns. Since each security's valuation is changing throughout the day it's difficult to determine the valuation of the mutual fund except for when the market is closed. Once the market has closed (4pm eastern) and securities are no longer trading, the company must get accurate valuations for every security and perform the valuation calculations and distribute the results to the pricing vendors. This has to be done by 6pm eastern. This is a difficult and, more importantly, a time consuming process to get it done right once per day. Having worked for several fund companies I can tell you there are many days where companies are getting this done at the very last minute. When you place a buy or sell order for a mutual fund it doesn't matter what time you placed it as long as you entered it before 4pm ET. Cutoff times may be earlier depending on who you're placing the order with. If companies had to price their funds more frequently, they would undoubtedly raise their fees.",
"title": ""
},
{
"docid": "8b90dc3f316e64f6d93f0fd4e355334d",
"text": "An index fund is inherently diversified across its index -- no one stock will either make or break the results. In that case it's a matter of picking the index(es) you want to put the money into. ETFs do permit smaller initial purchases, which would let you do a reasonable mix of sectors. (That seems to be the one advantage of ETFs over traditional funds...?)",
"title": ""
},
{
"docid": "5a2597ff9b7701bb15d381e14a0bc724",
"text": "\"What does ETFs have to do with this or Amazon? Actually, investing in ETFs means you are killing actively managed Mutual Funds (managed by people, fund managers) to get an average return (and loss) of the market that a computer manage instead of a person. And the ETF will surely have Amazon stocks because they are part of the index. I only invest in actively managed mutual funds. Yes, most actively managed mutual funds can't do better than the index, but if you work a bit harder, you can find the many that do much better than the \"\"average\"\" that an index give you.\"",
"title": ""
},
{
"docid": "d68b02b590f00b6b9e569a4648f50fa8",
"text": "\"For US stocks it's a bit of a gamble. Many actively managed funds underperform the market indexes, but some of them outperform in many years. With an index you will get average results. With an active manager you \"\"might\"\" do better than average. So you can view active management as a higher risk, potentially higher reward investment approach. On the other hand, if you want to diversify some of your investments into international stocks, bonds, junk bonds, and real estate (REITs) active management is highly likely to be better than indexing. For these specialized areas specialized knowledge and research is needed.\"",
"title": ""
},
{
"docid": "fbb037d43fbddf31cc04e52bfcb39196",
"text": "\"An Exchange-Traded Fund (ETF) is a special type of mutual fund that is traded on the stock exchange like a stock. To invest, you buy it through a stock broker, just as you would if you were buying an individual stock. When looking at a mutual fund based in the U.S., the easiest way to tell whether or not it is an ETF is by looking at the ticker symbol. Traditional mutual funds have ticker symbols that end in \"\"X\"\", and ETFs have ticker symbols that do not end in \"\"X\"\". The JPMorgan Emerging Markets Equity Fund, with ticker symbol JFAMX, is a traditional mutual fund, not an ETF. JPMorgan does have ETFs; the JPMorgan Diversified Return Emerging Markets Equity ETF, with ticker symbol JPEM, is an example. This ETF invests in similar stocks as JFAMX; however, because it is an index-based fund instead of an actively managed fund, it has lower fees. If you aren't sure about the ticker symbol, the advertising/prospectus of any ETF should clearly state that it is an ETF. (In the example of JPEM above, they put \"\"ETF\"\" right in the fund name.) If you don't see ETF mentioned, it is most likely a traditional mutual fund. Another way to tell is by looking at the \"\"investment minimums\"\" of the fund. JFAMX has a minimum initial investment of $1000. ETFs, however, do not have an investment minimum listed; because it is traded like a stock, you simply buy whole shares at whatever the current share price is. So if you look at the \"\"Fees and Investment Minimums\"\" section of the JPEM page, you'll see the fees listed, but not any investment minimums.\"",
"title": ""
},
{
"docid": "4afd5945bcc615ebbc57c903f5eff5cc",
"text": "From an article I wrote a while back: “Dalbar Inc., a Boston-based financial services research firm, has been measuring the effects of investors’ decisions to buy, sell, and switch into and out of mutual funds since 1984. The key finding always has been that the average investor earns significantly less than the return reported by their funds. (For the 20 years ended Dec. 31, 2006, the average stock fund investor earned a paltry 4.3 average annual compounded return compared to 11.8 percent for the Standard & Poor’s 500 index.)” It's one thing to look at the indexes. But quite another to understand what other investors are actually getting. The propensity to sell low and buy high is proven by the data Dalbar publishes. And really makes the case to go after the magic S&P - 0.09% gotten from an ETF.",
"title": ""
},
{
"docid": "446c12b0d6ce872ec6a585017050af10",
"text": "\"Does the bolded sentence apply for ETFs and ETF companies? No, the value of an ETF is determined by an exchange and thus the value of the share is whatever the trading price is. Thus, the price of an ETF may go up or down just like other securities. Money market funds can be a bit different as the mutual fund company will typically step in to avoid \"\"Breaking the Buck\"\" that could happen as a failure for that kind of fund. To wit, must ETF companies invest a dollar in the ETF for every dollar that an investor deposited in this aforesaid ETF? No, because an ETF is traded as shares on the market, unless you are using the creation/redemption mechanism for the ETF, you are buying and selling shares like most retail investors I'd suspect. If you are using the creation/redemption system then there are baskets of other securities that are being swapped either for shares in the ETF or from shares in the ETF.\"",
"title": ""
},
{
"docid": "6b7485e54f14bda079a021ac233b0c0d",
"text": "I think that assuming that you're not looking to trade the fund, an index Mutual Fund is a better overall value than an ETF. The cost difference is negligible, and the ability to dollar-cost average future contributions with no transaction costs. You also have to be careful with ETFs; the spreads are wide on a low-volume fund and some ETFs are going more exotic things that can burn a novice investor. Track two similar funds (say Vanguard Total Stock Market: VTSMX and Vanguard Total Stock Market ETF: VTI), you'll see that they track similarly. If you are a more sophisticated investor, ETFs give you the ability to use options to hedge against declines in value without having to incur capital gains from the sale of the fund. (ie. 20 years from now, can use puts to make up for short-term losses instead of selling shares to avoid losses) For most retail investors, I think you really need to justify using ETFs versus mutual funds. If anything, the limitations of mutual funds (no intra-day trading, no options, etc) discourage speculative behavior that is ultimately not in your best interest. EDIT: Since this answer was written, many brokers have begun offering a suite of ETFs with no transaction fees. That may push the cost equation over to support Index ETFs over Index Mutual Funds, particularly if it's a big ETF with narrow spreads..",
"title": ""
},
{
"docid": "f094f4d137e563cb3b3263b5ac6a04c4",
"text": "\"I'm not following what's the meaning of \"\"open a mutual fund\"\". You don't open a mutual fund, you invest in it. There's a minimum required investment ($2000? Could be, some funds have lower limits, you don't have to go with the Fidelity one necessarily), but in general it has nothing to do with your Roth IRA account. You can invest in mutual funds with any trading account, not just Roth IRA (or any other specific kind). If you invest in ETF's - you can invest in funds just as well (subject to the minimums set). As to the plan itself - buying and selling ETF's will cost you commission, ~2-3% of your investment. Over several months, you may get positive returns, and may get negative returns, but keep in mind that you start with the 2-3% loss on day 1. Within a short period of time, especially in the current economic climate (which is very unstable - just out of recession, election year, etc etc), I would think that keeping the cash in a savings account would be a better choice. While with ETF you don't have any guarantees other than -3%, then with savings accounts you can at least have a guaranteed return of ~1% APY (i.e.: won't earn much over the course of your internship, but you'll keep your money safe for your long term investment). For the long term - the fluctuations of month to month don't matter much, so investing now for the next 50 years - you shouldn't care about the stock market going 10% in April. So, keep your 1000 in savings account, and if you want to invest 5000 in your Roth IRA - invest it then. Assuming of course that you're completely positive about not needing this money in the next several decades.\"",
"title": ""
},
{
"docid": "5dbae56ad4aca8a1caeb2c6a7ab08472",
"text": "\"Your question is one of semantics. ETFs and mutual funds have many things in common and provide essentially the same service to investors with minimal differences. It's reasonably correct to say \"\"An ETF is a mutual fund that...\"\" and then follow up with some stuff that is not true of a typical mutual fund. You could do the same with, for example, a hedge fund. \"\"A hedge fund is a mutual fund that doesn't comply with most SEC regulations and thus is limited to accredited investors.\"\" As a matter of practice, when people say \"\"mutual fund\"\" they are talking about traditional mutual funds and pretty much never including ETFs. So is an ETF a mutual fund as the word is commonly used? No.\"",
"title": ""
},
{
"docid": "12af5a0013c778afa9b7314dc89d6493",
"text": "ETFs are a type of investment, not a specific choice. In other words, there are good ETFs and bad. What you see is the general statement that ETFs are preferable to most mutual funds, if only for the fact that they are low cost. An index ETF such as SPY (which reflects the S&P 500 index) has a .09% annual expense, vs a mutual fund which average a full percent or more. sheegaon isn't wrong, I just have a different spin to offer you. Given a long term return of say even 8% (note - this question is not a debate of the long term return, and I purposely chose a low number compared to the long term average, closer to 10%) and the current CD rate of <1%, a 1% hit for the commission on the buy side doesn't bother me. The sell won't occur for a long time, and $8 on a $10K sale is no big deal. I'd not expect you to save $1K/yr in cash/CDs for the years it would take to make that $8 fee look tiny. Not when over time the growth will overshaddow this. One day you will be in a position where the swings in the market will produce the random increase or decrease to your net worth in the $10s of thousands. Do you know why you won't lose a night's sleep over this? Because when you invested your first $1K, and started to pay attention to the market, you saw how some days had swings of 3 or 4%, and you built up an immunity to the day to day noise. You stayed invested and as you gained wealth, you stuck to the right rebalancing each year, so a market crash which took others down by 30%, only impacted you by 15-20, and you were ready for the next move to the upside. And you also saw that since mutual funds with their 1% fees never beat the index over time, you were happy to say you lagged the S&P by .09%, or 1% over 11 year's time vs those whose funds had some great years, but lost it all in the bad years. And by the way, right until you are in the 25% bracket, Roth is the way to go. When you are at 25%, that's the time to use pre-tax accounts to get just below the cuttoff. Last, welcome to SE. Edit - see sheegaon's answer below. I agree, I missed the cost of the bid/ask spread. Going with the lowest cost (index) funds may make better sense for you. To clarify, Sheehan points out that ETFs trade like a stock, a commission, and a bid/ask, both add to transaction cost. So, agreeing this is the case, an indexed-based mutual fund can provide the best of possible options. Reflecting the S&P (for example) less a small anual expense, .1% or less.",
"title": ""
},
{
"docid": "39039f0f18b9a5f0ebc766f87a502934",
"text": "In the past 10 years there have been mutual funds that would act as a single bucket of stocks and bonds. A good example is Fidelity's Four In One. The trade off was a management fee for the fund in exchange for having to manage the portfolio itself and pay separate commissions and fees. These days though it is very simple and pretty cheap to put together a basket of 5-6 ETFs that would represent a balanced portfolio. Whats even more interesting is that large online brokerage houses are starting to offer commission free trading of a number of ETFs, as long as they are not day traded and are held for a period similar to NTF mutual funds. I think you could easily put together a basket of 5-6 ETFs to trade on Fidelity or TD Ameritrade commission free, and one that would represent a nice diversified portfolio. The main advantage is that you are not giving money to the fund manager but rather paying the minimal cost of investing in an index ETF. Overall this can save you an extra .5-1% annually on your portfolio, just in fees. Here are links to commission free ETF trading on Fidelity and TD Ameritrade.",
"title": ""
},
{
"docid": "03d41dcf56859ae93fbc012bda231e5a",
"text": "As has been pointed out, one isn't cheaper than the other. One may have a lower price per share than the other, but that's not the same thing. Let's pretend that the total market valuation of all the stocks within the index was $10,000,000. (Look, I said let's pretend.) You want to invest $1,000. For the time being, let's also pretend that your purchasing 0.01% of all the stock won't affect prices anywhere. One company splits the index into 10,000 parts worth $1,000 each. The other splits the same index into 10,000,000 parts worth $1 each. Both track the underlying index perfectly. If you invest $1,000 with the first company, you get one part; if you invest $1,000 with the second, you get 1,000 parts. Ignoring spreads, transaction fees and the like, immediately after the purchase, both are worth exactly $1,000 to you. Now, suppose the index goes up 2%. The first company's shares of the index (of which you would have exactly one) are now worth $1,020 each, and the second company's shares of the index (of which you would have exactly 1,000) are worth $1.02 each. In each case, you now have index shares valued at $1,020 for a 2% increase ($1,020 / $1,000 = 1.02 = 102% of your original investment). As you can see, there is no reason to look at the price per share unless you have to buy in terms of whole shares, which is common in the stock market but not necessarily common at all in mutual funds. Because in this case, both funds track the same underlying index, there is no real reason to purchase one rather than the other because you believe they will perform differently. In an ideal world, the two will perform exactly equally. The way to compare the price of mutual funds is to look at the expense ratio. The lower the expense ratio is, the cheaper the fund is, and the less of your money is being eroded every day in fees. Unless you have some very good reason to do differently, that is how you should compare the price of any investment vehicles that track the same underlying commodity (in this case, the S&P 500).",
"title": ""
},
{
"docid": "2959a2d3ba81411ae55c07a1df56331c",
"text": "consider capital requirements and risk timeframes. With options, the capital requirements are far smaller than owning the underlying securities with stops. Options also allow one to constrain risk to a timeframe of ones own choosing (the expiration date of the contract). If you own or are short the underlying security, there is no time horizon.",
"title": ""
}
] | fiqa |
7efab009e1da914a230ea0e042c9a16d | On what dates do the U.S. and Canada release their respective federal budgets? | [
{
"docid": "133464c876056ea6f006d3b68d5352cd",
"text": "In the US there is no set date. If all goes well there are multiple dates of importance. If it doesn't go well the budget process also may include continuing resolutions, shutdowns, and sequestrations.",
"title": ""
},
{
"docid": "f25194adc202671a1e3417243c0e5329",
"text": "Canada does not have a set date on which a (Federal) budget plan is unveiled. In 2011 it was June 6th. In 2012 it was March 29th and in 2013 it was 21st March.",
"title": ""
},
{
"docid": "cd729e27c7e1b5e6764191d66f7b2989",
"text": "To the best of my knowledge, there's no firm date requirement. The fiscal year for the US Federal Government starts on October 01, but if my memory serves me right, last time a budget was approved before the fiscal year started was during the Clinton administration.",
"title": ""
}
] | [
{
"docid": "a02042a8eb168692455334226a2f2b69",
"text": "This chart is full of shit. Iraq War costs barely register a blip. [From NYT article](http://www.nytimes.com/2009/02/20/us/politics/20budget.html) *WASHINGTON — For his first annual budget next week, President Obama has banned four accounting gimmicks that President George W. Bush used to make deficit projections look smaller. The price of more honest bookkeeping: A budget that is $2.7 trillion deeper in the red over the next decade than it would otherwise appear, according to administration officials.*",
"title": ""
},
{
"docid": "0a14a5e419b64b3ae3fdb48d719a9cd2",
"text": "His statement is false, for two reasons. First, you don't want to compare month-to-month numbers. The seasonality overwhelms and substantive changes. It's like saying a retailer is growing strongly because December sales are much higher than November. You need to compare with the previous December. Second, 2017 is Obama's budget. Trump didn't set taxes or expenditures.",
"title": ""
},
{
"docid": "ba960eb7f7436e5f3824be9fad756a02",
"text": "If you're willing to use OFX or QIF files, most Canadian banks can spit output more data than 90 days. The files are typically used to import into Quicken-like local programs, but can be easily parsed for your webapp, I imagine.",
"title": ""
},
{
"docid": "e7e27751dba88a72cd630751ffa52621",
"text": "I know some companies or entities have large incomes or expenses at certain times of the year, and like to close their books after these large events. For example where I work, the primary seasonal income comes after summer, so our fiscal year ends at the last days of October. This gives the accountants enough time to collect all the funds, reconcile whatever they have to, pay off whatever they have to and get working on a budget for the next year sooner than a calendar year would. There also might be tax reasons. To get all of your income at the beginning of your fiscal year, even if that is in the middle of the calendar year would allow a company to plan large deductible investments with more certainty. I am not to sure of the tax reasons.",
"title": ""
},
{
"docid": "065475f898aa9b5dc117c58149a7a8b6",
"text": "Im gonna make up some numbers for this teaching moment. 2011: $60,000 2012: $50,000 2013: $100,000 2014: $70,000 2015: $60,000 2016: $75,000 2017: $90,000 2017 is the highest number since 2013. But before we had 2017 data, we only had up to 2016 data. In 2016, 2016 was the highest number since 2013. We couldn't say the same about 2015 though. In 2015, 2014 was the highest number since 2013. Such short timetables are kinda ridiculous to even claim. This type of number is only meaningful if its a big number of years like biggest deficit since 1953 (60ish years ago)",
"title": ""
},
{
"docid": "a071d6e3e0b14da2a3a72b374d496658",
"text": "\"Are you sure you're using the same date range? If you're using Max, then you're not, as ^FTMC goes back to 12/1/1985 while ^GDAXI only goes back to 11/1/1990. If I enter a custom date range of 11/1/1990 through 10/24/2015, I get: and: which, other than the dates it chose to use as labels on the x-axes, look identical. (I tried to add the URLs of the charts, but it looks like the Yahoo! URLs don't include the comparison symbol, which makes them useless for this answer. They're easy enough to construct though, just add the secondary symbol using the Comparison button and set the date range using the calendar button.) On your PS, I don't know, as you can see by my charts it even chose different labels when the date ranges were identical (although at least it didn't scale different dates differently), so maybe it's trying to be \"\"smart\"\" and choose dates based on the total amount of data available for the primary symbol, which is different in the two cases.\"",
"title": ""
},
{
"docid": "dc8fdf6bcac77214fec7114b7698d509",
"text": "Citizenship matter for US reporting, but not for Canadian taxes. If you are an American resident then you need only worry about US taxes and rules. s",
"title": ""
},
{
"docid": "0e3910bdedb13168f2ffdd70684983f9",
"text": "Doesn't matter. What concerns me is the potential, since it is very plausible that at some time in the near future the Feds will need to be violently fought by the citizens of the USA in order to correct the deviation of their allegiance.",
"title": ""
},
{
"docid": "c7925c388a4ae383d3f58c8a67ecb5e9",
"text": "Maybe it's just because of the foundation date. If I start a company on August 1st, I would like its FY starts on that date too, in order to track my first whole year. Would be quite useless to finish my year on December, after just five months. I want to have data of my first year after a twelve months activity.",
"title": ""
},
{
"docid": "26188002114bcf36a8d736a76a6639a9",
"text": "Yes, it's good the economy is doing well. Hopefully it helps the many dissatisfied Trump voters. It would be nice to see some of the anger dampen in the country. The truth is that this data still *mostly* for Obama's economy. Trump's budget didn't start until Oct, after Q3 finished. So this report is for the time when the federal government was operating under budgets passed during the Obama era. Economies have enormous momentum, and this one is still following its long established trajectory. You probably should give Trump credit for regulatory changes, bully pulpit leadership, and those sorts of things. So he definitely should get *some* credit, it's hard to know how much. The stock market rally is very likely in response to expected tax cuts from a GOP government (although if you draw a line for the stock market starting in 2009, we're still on the trend).",
"title": ""
},
{
"docid": "296a9ef0fe614daa0f69631c91d326d5",
"text": "I'm a bot, *bleep*, *bloop*. Someone has linked to this thread from another place on reddit: - [/r/metacanada] [Canada Pension Plan Investment Board Invests US$400 Million in WME│IMG](https://np.reddit.com/r/metacanada/comments/6sdk52/canada_pension_plan_investment_board_invests/) [](#footer)*^(If you follow any of the above links, please respect the rules of reddit and don't vote in the other threads.) ^\\([Info](/r/TotesMessenger) ^/ ^[Contact](/message/compose?to=/r/TotesMessenger))* [](#bot)",
"title": ""
},
{
"docid": "ed2ed8ddb40fdd2ab9e302b396164759",
"text": "Yes, I am currently an undergrad student majoring in Finance. I have a strong interest in Accounting and Economics (Macro). I have learned earlier today that due to the fact that people now live longer, our government spending increases (Medicare, Medicaid, Social Security, etc). But unfortunately, the funding that it draws from does not increase at a similar rate so the funding for other major aspects such as R&D, Education, etc are being cut to offset the increase in government transfers. Granted the Feds never spent much on education, why is it that the funding for R&D in terms of percentage is so minuscule? Would it not be in each government's best interest to funnel money towards education, infrastructure, research & development, etc? I'm sorry, when I learn one thing, about twenty billion other questions pop up (could be related or unrelated to what I had just learned)",
"title": ""
},
{
"docid": "c522e1e5a10c5380d40f06148f473874",
"text": "In addition to the company-specific annual business cycle reasons and company-specific historical reasons mentioned in the other answers, there is another reason. Accounting firms tend to be very busy during January (and February and March) when most companies are closing and auditing their calendar-year books. If a company chooses its fiscal year to end at a different time of year, the accounting firms are more available, and the auditing costs might be lower.",
"title": ""
},
{
"docid": "5f4c85a0ec524834a22e73607839809b",
"text": "I wrote a small Excel-based bookkeeping system that handles three things: income, expenses, and tax (including VAT, which you Americans can rename GST). Download it here.",
"title": ""
},
{
"docid": "3bfca67c5764c321162f28e2f725a737",
"text": "The picture talks is about assets on the Fed's balance sheet, which is very different than US government debt. Nor is there anything in the picture about corporate bottom lines, just US equities. The implication of the picture is that the Fed's QE program is propping up US equity prices, and it is not a comment on the US debt or corporate earnings. You're reading things that simply aren't there.",
"title": ""
}
] | fiqa |
4f3180abea8f53913671adf94ba2813d | How are people able to spend more than what they make, without going into debt? | [
{
"docid": "c3dbe23baa3731a9c553bf645a1ddd1d",
"text": "\"That's just his base salary for last year. Keep reading in the article: He also received $1.6 million worth of securit[ies]. Plus, he's probably earned plenty in salary, bonuses, and other compensation in previous years to more than keep up his lifestyle. He can also sell (relatively) small amounts of the stock he already owns to get millions in cash without raising an eyebrow. how are people able to spend more than what they make, without going into debt? Well, people can't spend more than they have without going into debt. Certainly money can be saved, won, inherited, whatever without being \"\"earned\"\". Other than that, debt is the only option. That said, MANY \"\"wealthy\"\" people will spend WAY more than they have by going into debt. This can be done through huge mortgages, personal loans using stock, real estate, or other assets as collateral, etc. I don't know about Bezos specifically, but it's not uncommon for \"\"wealthy\"\" people to live beyond their means - they just have more assets behind them to secure personal loans, or bankers are more willing to lend them unsecured money because of the large interest rates they can charge. Their assumption is presumably that the interest they'll pay on these loans is less than the earnings they'll get from the asset (e.g. stock, real estate). While it may be true in some cases, it can also go bad and cause you to lose everything.\"",
"title": ""
},
{
"docid": "4a56de6fe6adc204eaa9797811f0f34b",
"text": "Rich people use debt for various reasons. The question should not assume that billionaires don't use debt. They also pay lower interest rates on that debt because they have enough collateral that their debt is safer than a typical mortgage. Many rich people will use interest only mortgages on their primary residences so that they can keep their stock earning at higher growth rates than the mortgage interest that they are paying all while writing off a portion of that mortgage interest on their taxes. Taking an artificially low salary and receiving equity for the larger portion of compensation is also a tax strategy to limit the amount of taxes owed on that income. If paid directly in stock grants, that will count as income, but if paid in options, then the purchased stock will only be taxed at the lower capital gains rates if the stock is held for a year after the options are exercised. Every billionaire will have complicated tax avoidance strategies that will require multi-year planning for the best long-term minimization of taxes. Debt is a strategic part of that planning. Also consider that a major part of that upscale lifestyle (corporate jets, fancy meals, etc.) is on the company dime because the CEO is always on the clock. As long as he is meeting with business prospects or doing other company business, those expenses will be justified for the corporation and not attributed as income.",
"title": ""
},
{
"docid": "ab2cd2b3bf859555843f0a7d18862df2",
"text": "I don't know about Jeff Bezos in particular but, in general, and with a a few other notorious exceptions like Warren Buffet, billionaires also have incomes (salary, dividends, fees to seat on various boards of directors, etc.) in the millions, not the tens of thousand. That's typically still much lower than their wealth but certainly enough to sustain a comfortable lifestyle. However it's still true that some billionaires have so much of their wealth tied up in a single corporation that they could not practically get it all out at once, if they ever wanted to. But they can still typically sell at least some shares, which is exactly what Jeff Bezos has done to buy the Washington Post for example.",
"title": ""
},
{
"docid": "7a75ec7df354c13e722dec2a6d849211",
"text": "\"Bezos made very little \"\"money.\"\" But he is very wealthy because of stock grants and options, from his previous years. Banks or brokerage firms will lend him (or anyone else) up to half the value of his stock. In Bezos' case, we're talking about billions. So he could, if he wanted to, cash out half of those billions. If the stock continues to go up (as it has), he will be able to cash out more each year. Imagine a person earning $1 a year in cash with $1 billion of stock, on which he can borrow up to $500 million. That, in a nutshell, is Bezos (with larger numbers).\"",
"title": ""
},
{
"docid": "520b5db44deeea7b530a30fca45f99d6",
"text": "\"If you make $10 in salary, $5 in interest on savings, and $10 in dividends, your income is $25, not $10. If you have a billion dollars in well-invested assets, you can take a loan against those assets and the interest payment on the loan will be smaller than the interest you earn on the assets. That means your investment will grow faster than your debt and you have a net positive gain. It makes no sense to do this if the value of your asset is static. In that case, you would be better off just to withdraw from the asset and spend it directly, since a loan against that static asset will result in you spending your asset plus interest charges. If you have a good enough rate of return on your investment, you may actually be able to do this in perpetuity, taking out loan after loan, making the loan payments from the loan proceeds, while the value of your original asset pool continues to grow. At any given time, though, a severe downturn in the market could potentially leave you with large debts and insufficient value in your assets to back the debt. If that happens, you won't be getting another loan and the merry-go-round will stop spinning. It's a bit of a Ponzi scheme, in a way. The U.S. government has done exactly this for a long time and has gotten away with it because the dollar has been the world's reserve currency. You could always get a loan against the value of the U.S. currency in the past. Those days may be dwindling, with more countries choosing alternative currencies to conduct business with and the dollar becoming comparatively weaker into the foreseeable future. If you have savings, you can spend more than you make, which will put you into debt, then you can draw down your savings to pay that debt, and at the end of the month you will be out of debt, but have less in savings. You cannot do this forever. Eventually, you run out of savings. If you have no savings, you immediately go into debt and stay there when you spend more than you make. This is simple arithmetic. If you have no savings, but you own assets (real estate, securities, a collection of never-opened Beatles vinyl records, a bicycle), then you could spend more than you make, and be in debt, but have the potential to liquidate assets to pay off all or part of the debt. This depends on finding a buyer and negotiating a price that helps you enough to make a real difference. If you have a car, and you owe $10 on it, but you can only find a buyer willing to pay $8 for the car, that doesn't help you unless you can refinance the $2 and your new payment amount is lower than the old payment amount. But then you're still $2 in debt on the car even though you no longer possess it, and you've still increased your debt by spending more than you made. If you stay on this path, sooner or later you will not have any assets left and you will be in debt, plain and simple. As a wrinkle in the concrete example, let's say you have stock options with your employer. This is a form of a \"\"call.\"\" You could also purchase a call through a broker in the stock market, or for a commodity in the futures market. That means you pay up front for the right to buy a specific amount of an asset at a fixed price (usually with an expiration date). You don't own the stock, you just have the right to buy it at the call price, regardless of the current market value when you buy it. In the case of employee stock options, your upfront cost is in the form of a vesting schedule. You have to remain employed for a set time before a specific number of stocks become eligible for you to purchase at your option price (the stocks \"\"vest\"\" on a certain date). Remain employed longer, and more stocks may vest, depending on your contract. If you quit or are terminated before that date, you forfeit your options. If you stick around through your vesting schedule, you pay real money to buy the stock at your option price. It only makes sense to do this if the market value of the stock is higher than your option price. If the current market value is lower than your option price, you're better off just buying the asset at the current market value, or waiting and hoping that the value increases before your contract expires. You could drive yourself into debt by spending more than you make, but still have a chance to eliminate your debt by exercising your call/option and then re-selling the asset if it is worth more than what you pay for it. But you may have to wait for a vesting period to elapse before you can exercise your option (depending on the nature of your contract). During this waiting period, you are in debt, and if you can't service your debt (i.e. make payments acceptable to your creditors) your things could get repossessed. Oh, don't forget that you'll also pay a brokerage fee to sell the asset after you exercise your option. Further, if you have exhausted your savings and nobody will give you a loan to exercise your stock (or futures) options, then in the end you would be even further in debt because you already paid for the call, but you are unable to capitalize it and you'll lose what you already paid. If you can get a loan to exercise your option, but you're a bad credit risk, chances are good that the lender will draft a contract requiring you to immediately pay back the loan proceeds plus a fee out of the proceeds of re-selling the stock or other asset. In fact the lender might even draft a contract assigning ownership of your options to them, and stipulating that they'll pay you what's left after they subtract their fee. Even if you can get a traditional loan, you will pay interest over time. The end result is that your debt has still cost you very real money beyond the face value of the debt. Finally, if the asset for which you have a call has decreased in value lower than the current market value, you would be better off buying it directly in the market instead of exercising your option. But you'll pay transaction fees to do that, and the entire action would be pure speculation (or \"\"investment\"\"), but not an immediate means to pay off your debt. Unless you have reliable insider trading information. But then you risk running afoul of the law. Frankly it might be better to get a loan to pay off your debt than to buy an \"\"investment\"\" hoping the value will increase, unless you could guarantee that the return on your investment would be bigger than the cumulative interest and late fees on your debt (or the risk of repossession of your belongings). Remember that nothing you owe a debt on is actually yours, not your house, not your car, not your bicycle, not your smartphone. Most of the time, your best course of action is to make minimum payments on your lowest-interest debts and make extra payments on your highest interest debt, up to the highest total payment you can tolerate (set something aside in a rainy day fund just in case). As you pay off the highest-interest debt, shift the amount you were paying on that debt to make extra payments on your next highest-interest debt until that one is paid off, and repeat on down the line until you're out of debt, then live within your means so that you don't find yourself working at McDonald's because you don't have a choice when you're in your 80's.\"",
"title": ""
}
] | [
{
"docid": "d928ef4d9e926330853c2e5a63a88b80",
"text": "\"Debt increases your exposure to risk. What happens if you lose your job, or a major expense comes up and you have to make a hard decision about skipping a loan payment? Being debt free means you aren't paying money to the bank in interest, and that's money that can go into your pocket. Debt can be a useful tool, however. It's all about what you do with the money you borrow. Will you be able to get something back that is worth more than the interest of the loan? A good example is your education. How much more money will you make with a college degree? Is it more than you will be paying in interest over the life of the loan? Then it was probably worth it. Instead of paying down your loans, can you invest that money into something with a better rate of rate of return than the interest rate of the loan? For example, why pay off your 3% student loan if you can invest in a stock with a 6% return? The money goes to better use if it is invested. (Note that most investments count as taxable income, so you have to factor taxes into your effective rate of return.) The caveat to this is that most investments have at least some risk associated with them. (Stocks don't always go up.) You have to weigh this when deciding to invest vs pay down debts. Paying down the debt is more of a \"\"sure thing\"\". Another thing to consider: If you have a long-term loan (several years), paying extra principal on a loan early on can turn into a huge savings over the life of the loan, due to power of compound interest. Extra payments on a mortgage or student loan can be a wise move. Just make sure you are paying down the principal, not the interest! (And check for early repayment penalties.)\"",
"title": ""
},
{
"docid": "1407a11a1bfd45195cc54d12195ad9d1",
"text": "\"In that example, \"\"creating money\"\" could be used interchangeably with \"\"making promises\"\". There's no inflation, and no problem, so long as everyone keeps their promises. Which sounds like a horrifying thing to say about the foundations of the economy, but the remarkable thing is that people mostly do.\"",
"title": ""
},
{
"docid": "20e229bd64d5153fb81598370b56d30b",
"text": "\"I think you're thinking that \"\"in debt\"\" doesn't just mean \"\"owes a debt\"\" but somehow means \"\"owes more debt in total than the assets\"\". That condition, owing money without offsetting assets, is \"\"having a negative net worth\"\". If you have a mortgage then you have a debt and you are in debt. You may have a positive net worth, if you have equity in the house and your car and such like, and have cash in the bank. You may have a negative net worth if you owe more than you own. But either way you are technically in debt. Knowing that, it's not surprising that 75% of Americans are in debt. It's surprising that 25% are not. They have no credit card, no car loan, no mortgage, no line of credit, no student loans. Is it because they've paid all that off? Or because they are deadly poor and own nothing and can't be lent anything? You can't just say it's bad to have debt. It's bad to have too much debt, to have a negative net worth, to be in the habit of borrowing to finance a lifestyle you can't actually afford, and so on. But it's perfectly normal to have a debt or two. That's how our system mostly works.\"",
"title": ""
},
{
"docid": "6435f24f13a0fde33b0d612aa3ee4b3d",
"text": "Firstly, make sure annual income exceeds annual expenses. The difference is what you have available for saving. Secondly, you should have tiers of savings. From most to least liquid (and least to most rewarding): The core of personal finance is managing the flow of money between these tiers to balance maximizing return on savings with budget constraints. For example, insurance effectively allows society to move money from savings to stocks and bonds. And a savings account lets the bank loan out a bit of your money to people buying assets like homes. Note that the above set of accounts is just a template from which you should customize. You might want to add in an FSA or HSA, extra loan payments, or taxable brokerage accounts, depending on your cash flow, debt, and tax situation.",
"title": ""
},
{
"docid": "aa376627ff2f734bdda8fc04c0ca3c26",
"text": "I get exactly what you mean and I agree, but that reality of it is that that's not always possible. I have friends who are just barely able to pay rent and have to use the rest of their income to eat bread and butter for every meal. They work full-time and has two jobs (at one point he had three just to stay afloat after getting injured on his way to work), and he's not able to save up anything and even when he tracks his balances, he teeters on the fine edge of being evicted for not paying rent, starving to pay bills, or overdrafting.",
"title": ""
},
{
"docid": "f965812cc529c08321ba0bf1bdb1abe0",
"text": "It doesn't really make sense to cure indebtedness with more debt. This is why your friend is having trouble finding someone to loan him money. If he can't borrow at a lower rate then he should probably focus on paying down some of his debt.",
"title": ""
},
{
"docid": "e383ca4a71033ad73873dbc43c87307f",
"text": "\"So what is preventing people from racking up as much credit card debt as possible in cash advances or consumer goods or whatnot, and then walking away from it? Then rinse and repeat once the debt is \"\"gone forever\"\"? It seems too good to be true - either there's something missing there, or people would be getting tens of thousands of dollars for free every half decade...\"",
"title": ""
},
{
"docid": "f5bbd155106252bac19ade8abd48cacc",
"text": "\"Is it not that bad? Depends how bad is bad. The problems causes by a government having large debt are similar to those caused by an individual having large debt. The big issue is: More and more of your income goes to paying interest on the debt, and is thus not available for spending on goods and services. If it gets bad enough, you find you cannot make payments, you start defaulting on loans, and then you have to make serious sacrifices, like selling your property to pay the debt. Nations have an advantage over individuals in that they can sometimes repudiate debt, i.e. simply declare that they are not going to pay. Lenders can then refuse to give them more money, but that doesn't get their original loans paid back. In theory other nations could send in troops to seize property to pay the loan, but this is a very extreme solution. Totally aside from any moral considerations, modern warfare is very expensive, it's likely the war would cost you more than you'd recover on the debt. How much debt is too much? It's hard to give a number, any more than one could give a \"\"maximum acceptable debt\"\" for an individual. American banks have a rule of thumb that they won't normally loan you money if your total debt payments would be more than 1/3 of your income. I've never come close to that, that seems awfully high to me. But, say, a young person just starting out so he's not making a lot of money, and he lives someplace with high housing prices, might find this painful but acceptable. Etc.\"",
"title": ""
},
{
"docid": "bc3fac15e2f8646c244551e0b846d17b",
"text": "\"Your main reason to not pay off your debts right now seems to be: Enjoy life while \"\"I am young\"\" and not miss opportunities to have fun? I think the good news is that having fun usually does not require spending a lot of money. I would propose that most of the times when we considered something fun it had more to do with who we were with than what we were actually doing. Of course there are many fun things that are expensive, but there are even more fun things that require little money at all. My suggestion to you would be to prioritize your debt in a responsible way such that you have a plan to pay it off quickly, but if something comes along that does require extra money, don't be afraid to make an adjustment. For example, you can try to put 2000€ towards your debt every month, but if some exciting adventure comes along that you really want to do and it costs 1000€ one month, you shouldn't feel like you absolutely must turn it down. That month you could put 1000€ towards debt and the other 1000€ towards the adventure. I wouldn't recommend taking an adventure every month, but I wouldn't always turn one down either. Besides, I think most of the time you can have lots of fun for free.\"",
"title": ""
},
{
"docid": "2f1ba347564bf022cb2ff4282dfce309",
"text": "As long as you can be trusted with a Credit Card i find that if you have a setup that uses three accounts: 1. your Credit Card, 2. 2. a high interest internet account (most of these accounts don’t have fees), 3. a savings account. The Method that works for me is: 1st i calculate my fixed monthly bills i.e Rent and utilities and then transfer it into my high interest account. for the month whenever i make a purchase i transfer the money into the high interest account ( this way I can keep a running balance of what money I have left to spend in the month. Then when the Credit Card bill comes I transfer the money out of the high interest account across to pay off the Credit Card ( this way you generate interest on the money which you would have spent throughout the month and still maintain $0 of interest from the Credit Card) over a year you can generate at least enough money in interest to go out for dinner on one of free flights!",
"title": ""
},
{
"docid": "494c5a502d369a1c921ab752b8ff5948",
"text": "\"The real question is what can you NOT do! If you track all your monetary actions, you know everything about your monetary situation. That means you have the tools to ask and answer \"\"what if\"\" questions, such as: \"\"If I get a 10% raise, could I take longer vacations?\"\" You could calculate how much you spend per day on vacation and then consider the amount of your raise and how much of it you'd need to allocate to vacations to, say, be able to take a two-week vacation instead of a one-week vacation. \"\"How much more would I have to earn to move to this nicer apartment?\"\" This may seem like a simple question, but a surprising number of people can't answer it in a reliable way, because they don't have a clear understanding of how much money they make and how much of it they can afford to spend on housing. If you find you have lots of spare income, maybe you can move to the nicer place right away; if not, at least you can get a sense of how much more money you'd need to make it happen. \"\"If I started taking the bus to work, how much would I save?\"\" You can look at how much you spend on gas and compare that to the price of a bus pass. By separating out categories like gas, repairs, and car insurance, you can also calculate different scenarios, like if you still kept your car but only used it for occasional trips, versus if you sold the car and used only public transportation. \"\"If I want to take a trip to Tahiti, what can I cut back on to save the money?\"\" Using your table you can pencil out scenarios like \"\"Suppose I stop eating out for lunch at work and just bring my lunch, how long would I have to do that to save enough to pay for a plane ticket?\"\" These are just a few random examples. The general idea is that with a record of hard numbers, you can start to consider potential tradeoffs in an objective way --- that is, you can ask \"\"how much in category X would I have to give up to gain this thing I want in category Y?\"\" The real trick in making use of your data is not so much \"\"what\"\" you can do, but \"\"how\"\" exactly to do it. You may have to become more of a spreadsheet wizard to really delve into these questions. Also, if you have programming expertise, you can even use something like Python to do calculations that might be laborious in a spreadsheet.\"",
"title": ""
},
{
"docid": "f69a7f2f8a1c722e5a19a4cc9862faeb",
"text": "You can fairly simply make a spreadsheet in your favorite spreadsheet application (or in Google Docs if you want portability). I like to make an overview page that shows how much I take in per month and what fixed bills come out of that, then break the remaining total into four to get a weekly budget. Then, I make one page per month with four columns (one per week), with each row being a category. Sum the categories at the bottom, and subtract from your weekly total: voila, a quick reference of how much you can spend that week without going over budget. I then make a page for each month that lists what I bought and how much I spent on it, so I can trace where my money's gone; the category total is just a summation of the items from that page that belong in that category. Once you have a system, stop checking your bank balance except to ensure your paycheck is going in alright. Use the spreadsheet to determine how much you can spend at any time. Then make sure you pay off everything on the card before the end of the month so you don't incur interest.",
"title": ""
},
{
"docid": "b678d9bf10967e623523f9e00eec5380",
"text": "You might miss an opportunity or three by strictly avoiding debt, but I can't think of a problem you will create by being debt free. So maybe it isn't the absolutely smartest thing to avoid debt on principle*, but it certainly is pretty smart at the very least.",
"title": ""
},
{
"docid": "b7f76f9460f0bf9659675302d6fb77fd",
"text": "\"As others have pointed out, it sounds like the problem isn't the accessibility of your money, the problem is willpower. So, address that instead. How? Willpower is both a finite resource AND a resource that can be increased -- like muscle strength. Since willpower is finite, break down the problem into as many pieces as possible, then address only one of those pieces at a time. \"\"Be more sensible with my money\"\" is nebulous, vague, and large; there's no place to start. So break it apart: first thing is the one example in your question -- you go out on payday with friends/coworkers, intending to only buy a couple of beers (alcohol lowers willpower), and end up blowing through far more. So, what about making a rule to not go out on payday? Nice idea, but that might still be too hard to do -- if you have a habit of going out with them on payday, then this has become your community, and you will feel the loneliness of not going out with them, as well as the social pressure from them to do as you've always done. So, set up a different habit for that night, one that both involves the obligation of going there instead, and other people who will expect you to be there. Some examples would be a sport that happens to practice or compete on payday nights, or some charity that happens to need you at that time. Once you've broken that habit (and exulted in the resulting fattening of your wallet), look for other, similar leaks. I'm going to guess that all your money gets spent on going out to pubs (as opposed, say, to buying bric-a-brac you don't need). If so, then you need to face that you've adopted a pub-going culture, and that your community has shrunk to just those kind of people. It may seem like you have a lot of people in your life, but if all it takes to lose connection to all of them is to stop going to pubs, then you really don't. Your human connections, essential for an enjoyable life, are too fragile, too singly focused. So if that's the problem, branch out. Diversify the communities you're part of. I've already mentioned sport; church is another good one -- I mean a living church, the kind where the people are always doing stuff together and it's fun to go to, not the other kind where everyone sits in a pew for an hour a week and rushes the exits as soon as possible. Other possibilities are reaching out to neighbors or becoming politically involved. Hmmm... I started writing about willpower but I'm ending up at community. At your core, do you feel like if you didn't spend this way, that you wouldn't have any friends?\"",
"title": ""
},
{
"docid": "2e901a7a1a642e73ca745a90ec08f180",
"text": "\"The title of your question is quite different then the content. The term \"\"Rat Race\"\" was coined in the 70's and refers to the endless cycle of working hard to consume more. Fortunately it is very easy not to participate in the cycle and probably will lead to more happiness. Just because one \"\"works\"\" does not mean they are participating in the \"\"rat race\"\", and I would recommend the following: When I think of \"\"rat race\"\" I picture a a bumper-to-bumper freeway of people struggling to get to work. For others it might be different, but that kind of rat race is easily avoided by the multitude of remote work opportunities. Some jobs allow you to work anywhere in the world. Avoiding the rugged consumerism also helps avoid the feelings of being a rat on the wheel. Sure one can like nice things, but do we have to have everything that Madison Ave is trying to sell us? No. Pick some nice things and pay cash. Debt, especially consumer debt, causes a person (in effect) to work for a bank. Avoiding debt will remove those feelings. Saving and investing also helps avoid those feelings. There is profound satisfaction in watching ones account balances grow. Once you see that your investment earnings can outpace your expenses, and then your salary you really feel like you are getting ahead. Above all else giving is a paramount and often overlooked part of a person's financial life. It causes one to be humble and recognize that most people, in this world, are less fortunate that us. It avoids runaway provide that justifies purchases that we cannot afford. So yea you can avoid the \"\"Rat Race\"\" and still work.\"",
"title": ""
}
] | fiqa |
44864cdc68b74147426e3912ca2002bc | I own ASPIRO shares (Jay Z's new company). Now that it is going private, what about my shares? | [
{
"docid": "88176dd72acbb0b875780e23c432ab57",
"text": "From the press release Based on Aspiro's closing share price of SEK 0.66 as of 29 January 2015, the Offer values each Aspiro share at SEK 1.05 and the total value of the Offer at approximately SEK 464 million.[3] The Offer represents a premium of..... It seems you will get cash. I can't explain the pop to 11. You don't have any option to keep the shares.",
"title": ""
}
] | [
{
"docid": "3d0906a0418371cf2b5a442b1fe2c8f6",
"text": "If the company is non-public, your hands are tied. Most startups have a Stock Option Plan with specific rules on the shares. In almost all cases, they have a Transferability clause preventing transfers of options and shares unless approved by the company (who would almost always say no). Additionally, they usually have a Right of First Refusal (ROFR), which states that if shares are going to be transferred, the company gets the chance to buy it first. In your case, the company may argue your friend would sell you the shares for free and the company would exercise their ROFR and buy back the shares for free. There is not much you can do in this case. You may be able to write up a contract between your friend and you, but it would be costly and possibly not worth the effort. You may be better off asking for a lump sum or some other sort of compensation. Additionally, your friend might want to be careful with this idea. You could potentially gain access to sensitive company tools/documents which could get them in a lot of trouble.",
"title": ""
},
{
"docid": "2a767c52d09b8f0e86bc7991f15db996",
"text": "It is a publicly traded company. My interest is more in their motivation for instituting the new policy. *I* expect the stock to go up, I'm not being told that by someone else. Thanks for looking out though :)",
"title": ""
},
{
"docid": "52ab18a2a7ca03e479b2e9b8ed29d002",
"text": "You'll own whatever fraction you bought. To own the company (as in, boolean - yes or no) you need to buy 100% of the outstanding stock. RE controlling the company, in general the answer is yes - although the mechanism for this might not be so straight forward (ie. you may have to appoint board members and may only be able to do so at pre-set intervals) and there may be conditions in the company charter designed to stop this happening. Depending on your jurisdiction certain ownership percentages can also trigger the need to do certain things so you may not be able to just buy 50% - in Australia when you reach 20% ownership you have to launch a formal takeover bid.",
"title": ""
},
{
"docid": "880dc263d442e52e728d24edec9faac6",
"text": "\"When they entered Bankruptcy they changed their stock symbol from AAMR to AAMRQ. The Q tells investors that the company i in Bankruptcy. This i what the SEC says about the Q: \"\"Q\"\" Added To Stock Ticker Symbol When a company is involved in bankruptcy proceedings, the letter \"\"Q\"\" is added to the end of the company's stock ticker symbol. In most cases, when a company emerges from bankruptcy, the reorganization plan will cancel the existing equity stock and the old shares will be worthless. Given that risk, before purchasing stock in a bankrupt company, investors should read the company's proposed plan of reorganization. For more information about the impact of bankruptcy proceedings on securities, please read our online publication, Corporate Bankruptcy. The risks are they never recover, or that the old shares have nothing to do with new company. Many investors don't understand this. Recently some uninformed investors(?) tried to get a jump on the Twitter IPO by purchasing share of what they thought was Twitter but was instead the bankrupt company Tweeter Home Entertainment. Shares of Tweeter Home Entertainment, a Boston-based consumer electronics chain that filed for bankruptcy in 2007, soared Friday in a case of mistaken identity on Wall Street. Apparently, some investors confused Tweeter, which trades under the symbol TWTRQ, with Twitter and piled into the penny stock. Tweeter, which trades over the counter, opened at 2 cents a share and jumped as much as 15 cents — or 1,800 percent — before regulators halted trading. Almost 15 million shares had changed hands at that point, while the average daily volume is closer to 150,000. Sometimes it does happen that the new company does give some value to the old investors, but more often then not the old investors are completely wiped out.\"",
"title": ""
},
{
"docid": "7d62d84853dcd1a2c31e36d5c397c1a6",
"text": "The company may not permit a transfer of these options. If they do permit it, you simply give him the money and he has them issue the options in your name. As a non-public company, they may have a condition where an exiting employee has to buy the shares or let them expire. If non-employees are allowed to own shares, you give him the money to exercise the options and he takes possession of the stock and transfers it to you. Either way, it seems you really need a lawyer to handle this. Whenever this kind of money is in motion, get a lawyer. By the way, the options are his. You mean he must purchase the shares, correct?",
"title": ""
},
{
"docid": "4da125cf4c828c0e8d216f2efe875370",
"text": "\"Recently, I asked about what the company valuation is and how many shares does my 4% represent.CFO told me that there is no point to talk about \"\"shares\"\" or \"\"stock\"\" since the company is not public. Is it right? No, it is wrong. Shares and stocks exist regardless of how they can be traded. Once a company is formed, there are stocks that belong to the owners in the proportion of the ownership. They may not exist physically, but they do exist on paper. As an owner of 5% of the company, you own 5% of the company stocks. I asked if my investor portion equity will be subjected under a vesting schedule, CFO said yes. That doesn't make sense to me, because I bought those 4%? Aren't those supposed to be fully vested? I agree to my employee equity to be vested. Doesn't make sense to me either, since your money is already in their pocket. But I'm not sure if its illegal. If that's what is written in the signed contract - then may be its possible to have that situation. But it doesn't make much sense, because these shares are granted to you in return to your money, not some potential future work (as the 1% employee's portion). You already gave the money, so why wouldn't they be vested? Best to read the contract upon which you gave them your money, I really hope you have at least that and not just gave them a check....\"",
"title": ""
},
{
"docid": "bc4c5b81b457c266564306a0a073fab8",
"text": "Absolutely nothing, and it's not their call to make. The shareholders will want to cut it into as many parts as they can sell to recoup some of their lost investment. The judge will demand it even if they suddenly had a moral thought. This will happen when this (and all those other companies) go under, refocuses priorities, or shuts down departments.",
"title": ""
},
{
"docid": "b84302199bcd947bd345b52f006f77f5",
"text": "The company doesn't necessarily have to go public. They can also be worth money if the company is acquired. Also keep in mind that even if the company does eventually go public, your shares can essentially be wiped out by a round of pre-IPO funding that gives the company a low valuation. You could ask:",
"title": ""
},
{
"docid": "ab0454cb97484b5aee38694219afe541",
"text": "\"I can see two possibilities. Either a deal is struck that someone (the company itself, or a large owner) buys out the remaining shares. This is the scenario @mbhunter is talking about, so I won't go too deeply into it, but it simply means that you get money in your bank account for the shares in question the same as if you were to sell them for that price (in turn possibly triggering tax effects, etc.). I imagine that this is by far the most common approach. The other possibility is that the stock is simply de-listed from a public stock exchange, and not re-listed elsewhere. In this case, you will still have the stock, and it will represent the same thing (a portion of the company), but you will lose out on most of the \"\"market\"\" part of \"\"stock market\"\". That is, the shares will still represent a monetary value, you will have the same right to a portion of the company's profits as you do now, etc., but you will not have the benefit of the market setting a price per share so current valuation will be harder. Should you wish to buy or sell stock, you will have to find someone yourself who is interested in striking a deal with you at a price point that you feel comfortable with.\"",
"title": ""
},
{
"docid": "6d72dc32aae29c0d106cd27b4f1755d9",
"text": "\"Have the stock certificate in with a letter from the previous owner of the company from what I can tell in the letter these stocks were distributed from the owner himself stating \"\"after evaluation we have determined that your investment in this company is worth 10,000 shares at $1.00 a piece\"\" as well as I believe these shares were also acquired when the company was going through name changes or their company was bought\"",
"title": ""
},
{
"docid": "20118d2acc2ddab6bc7eba66d3175b22",
"text": "From what you have written, it could be a boiler room company. These operate with fancy website and have proper book keeping systems but are elaborate scams. How did you find about this broker. If there was a seller when you purchased the shares, there is no reason you can't be seller",
"title": ""
},
{
"docid": "b37b638fddbe7ead32efb9a79b6f85e1",
"text": "What are my options, if any, in how to deal with a buyout that forced me to sell, and accept cash only for my Florida USA company shares? Options are limited;",
"title": ""
},
{
"docid": "4eb50acf0e2ff98ec98033d4b6c86cff",
"text": "Have a proxy battle if you care so much about the long-term prospects of facebook or sue him for negligence. If you've been paying attention to google/facebook/yahoo's recent massive acquisition spree recently, you either wouldn't care so much about this deal or shouldn't be in the stock if you were concerned about Zuckerberg playing venture capital.",
"title": ""
},
{
"docid": "ee7faa8cb12e8e8d689434ac2822564a",
"text": "Zuckerberg already cashed out $1B. But that was planned from the get-go so he could diversify. Employees with stock options still have to wait before they can cash out. I think its 6 months after IPO.",
"title": ""
},
{
"docid": "945d9dd753ff1d61c83f1f76913805a1",
"text": "The best thing to do is pay off the car. Adding more variables to a negotiation with a car dealer (in this case, a trade in), is always going to go in their favor. This is why people recommend negotiating a price down first, before ever mentioning to the dealer you want to do a trade in or financing.",
"title": ""
}
] | fiqa |
bdfcdf3e90a16df978a030387f5af348 | Why should I trust investment banks' ratings? | [
{
"docid": "546e4f72d09bc4718e190a0dd240b4fd",
"text": "In theory, GS has a Chinese Wall between the department which issued the advice and any departments which may profit from such advice. This would take away some of your distrust, except for the fact that GS did violate these rules in the past (see the answer from user10665). You're wondering about the timing, prior to the release of figures by Tesla itself. This is quite normal. Predicting the past is not that useful ;) The price range indeed is wide, but that too is a meaningful opinion. It says that GS thinks Tesla's share price strongly depends on factors which are hard to predict. In comparison, Coca Cola's targets will be in a much smaller range because its costs and sales are very stable.",
"title": ""
},
{
"docid": "b2b54cdc0716e474b03097af2f154815",
"text": "\"If there's indeed no reason to trust GS, i.e. those are just guides then the question is: Why do investors seem to care? Because there's a reason to trust. You're just reading the bottom line - the target price range. More involved investors read the whole report, including the description of the current situation, the premises for the analysis, the expectations on the firm's performance and what these expectations are based on, the analysis of how the various scenarios might affect the valuation, and the evaluation of chances of these scenarios to occur. You don't have to trust everything and expect it to be 100% correct, analysts are not prophets. But you do have an option of reading their reports and critically analyzing their conclusions. What you suspect GS of doing (\"\"I tend to believe those guys just want themselves a cheap buy price a few days before Q2 earnings release\"\") is a criminal offence.\"",
"title": ""
},
{
"docid": "41ae722fcce68d01edfb7eaddcc8744f",
"text": "Investment banks will put out various reports and collect revenues from that along with their banking activity. I don't read them or care to read them myself. If banks can make money from something, they will likely do it, especially if it is legal. To take the Tesla stock question for a moment: Aren't you ruling out that yesterday was the day that Tesla was included in the Nasdaq 100 and thus there may be some people today exiting because they tried to cash in on the index funds having to buy the stock and bid it up in a sense? Or as @littleadv points out there could be those tracking the stocks not in the index that would have been forced to sell for another idea here. The Goldman note is a possible explanation but there could well be more factors in play here such as automated trading systems that seek to take advantage of what could be perceived as arbitrage opportunities. There can be quick judgments made on things which may or may not be true in the end. After all, who knows exactly what is causing the sell-off. Is it a bunch of stop orders being triggered? Is it people actually putting in sell order manually? Is it something else? There are lots of questions here where I'm not sure how well one can assign responsibility here.",
"title": ""
}
] | [
{
"docid": "3b9ae35eb128a2fcc6a93a1cd48c9cae",
"text": "The indication is based on the average Buy-Hold-Sell rating of a group of fundamental analysts. The individual analysts provide a Buy, Hold or Sell recommendation based on where the current price of the stock is compared to the perceived value of the stock by the analyst. Note that this perceived value is based on many assumptions by the analyst and their biased view of the stock. That is why different fundamental analysts provide different values and different recommendations on the same stock. So basically if the stock's price is below the analyst's perceived value it will be given a Buy recommendation, if the price is equal with the perceived value it will be given a Hold recommendation and if the price is more than the perceived value it will be given a Sell recommendation. As the others have said this information IMHO is useless.",
"title": ""
},
{
"docid": "fc7f42649f3f23fb3fac410b56aced21",
"text": "\"This company was a reputable rating agency for many years. See Weiss Research website, ratings section for a very different perspective on Martin Weiss's work than the websites with which he is now associated. I checked both links provided, and agree with the questioner in every way: These appear to be highly questionable investment research websites. I use such strong terms based on the fact that the website actually uses the distasteful pop-up ploy, \"\"Are you SURE you want to leave this site?\"\" Clearly, something changed between what Weiss Ratings was in the past (per company history since 1971) and what Martin Weiss is doing now. Larry Edelson seems to have been associated exclusively with questionable websites and high pressure investment advice since 2007. From 1996 through the present, he worked as either an employee or contractor of Weiss Research. Let's answer each of your questions. On June 22, 2006, the Commission instituted settled administrative proceedings against Weiss Research, Inc., Martin Weiss, and Lawrence Edelson (collectively, “Respondents”) for violations of the Investment Advisers Act of 1940 in connection with their operation of an unregistered investment adviser and the production and distribution of materially false and misleading marketing materials. Full details about Weiss Ratings operations, including its history from 1996 through 2001, when it operated in compliance with securities laws, then from 2001 through 2005, which was when the SEC filed charges for regulatory violations, are available from the June 2006 U.S. SEC court documents PDF. Finally, this quantitative assessment, \"\"Safe With Martin Weiss? (December 2010) by CXO Advisory (providers of \"\"objective research and reviews to aid investing decisions\"\") for its readers concluded the following: In summary, the performance of Martin Weiss’ premium services in aggregate over the past year is unimpressive. The study methodology was good, but I recommend reading the article (I posted the URL) to fully understand what caveats and assumptions were done to reach that conclusion.\"",
"title": ""
},
{
"docid": "97ae846da79dfb8cf406399d59a40041",
"text": "For questions 1 and 2. 1) If you are packing the loans into a CDO, they are being sold on the open market. Once it achieves a AAA rating, as most did even though they were mostly subprime, alt a, or arm, it is sold and shipped off the originator's books (While the originator of the CDO collects X% in fees) Basically how the originator makes their money is by X amount of CDOs they sell. There was no incentive to pick and choose the best borrowers to sell a loan to because how the CDOs were sold they achieved the best rating regardless of the borrowers credit risk. Due to this model, people are going to try and get as many people into the homes and sell the CDO asap. This caused questionable lending practices to result, NINJA (no income, no job, no assets) loans, manipulating borrowers income, assets, etc. Things that could be changed to help not have this occur again: a) Feds monetary policy was pretty meh during this period, due to low interest rates the banks had pretty much an endless supply of money and when all the reasonable ventures dried up they had to explore other opportunities to lend. b) Ratings agencies need an overhaul in how they receive their commission, preferably they should be being paid by the investor not the person issuing the security. This will help to eliminate the bias that results. c) Having X% (2-5) remain on the institutions books who created the CDO will help to make them responsibly lend. This is because if they are required to have it remain on their books, they will make better longer term decisions in who to lend to. I'm pretty sure all of these issues are discussed in Nouriel Roubini's book [Crisis Economics](http://www.amazon.com/Crisis-Economics-Course-Future-Finance/dp/1594202508) Another Great book already mentioned in this thread is by Michael Lewis [The Big Short](http://www.amazon.com/Big-Short-Inside-Doomsday-Machine/dp/0393338827/ref=sr_1_1?s=books&ie=UTF8&qid=1324140607&sr=1-1) If your interested in the European Crisis Michael Lewis also just came out with [Boomerang](http://www.amazon.com/Boomerang-Travels-New-Third-World/dp/0393081818/ref=sr_1_1?s=books&ie=UTF8&qid=1324140665&sr=1-1)",
"title": ""
},
{
"docid": "3e9dab648c073d7d951d574e279b4de7",
"text": "Dollar is the lingua franca of the financial industry and unluckily it is the US currency. It is till today considered the most safest investment bet, that is why you have China possesing $3 trillion of US debt, as an investment albiet a very safe one. Financial investors get in queue to by US bonds the moment they are put up for sale. Because of the AAA rating the investors consider it to be safe at a specific rate. Now when you lower the credit rating you are indirectly asking the US government that you want a higher return(yield) on your investments. When you ask for higher yields, it translates into higher interest rates (money US would get for bonds issued decreases and so more bonds are issued). So you basically start looking at a slowdown in consumer spendings households and businesses. With already defaults, repossesions and lesser spending, the slowdown would increase manifold.",
"title": ""
},
{
"docid": "138081ec8dc672510864b024303858ca",
"text": "Whilst it is true that they do not have a conference call every time a rating is produced, the parameters of a natural oligopoly do indicate that there are negative effects of deviating too much from the other members of an oligopoly. There are instances of rating agencies (Moody's) giving lower ratings to punish the issuer for going elsewhere (Re Hannover), but usually a slightly lower rating may be acceptable and is usually corrected to be in line with the competitor shortly afterwards. The power, arguably, is with the issuer in this sense because they can take their business to the 3rd member (Fitch) if the rating is too low from one of the Big Two. The preservation of the 'Big Two', for so long, is arguably testament to the S&P and Moody's understanding of these parameters If the answer is not micromanaging, what do you think it is out of interest?",
"title": ""
},
{
"docid": "1a391300cbd24b967851a40af75af143",
"text": "\"Institutions may be buying large quantities of the stock and would want the price to go up after they are done buying all that they have to buy. If the price jumps before they finish buying then they may not make as great a deal as they would otherwise. Consider buying tens of thousands of shares of a company and then how does one promote that? Also, what kind of PR system should those investment companies have to disclose whether or not they have holdings in these companies. This is just some of the stuff you may be missing here. The \"\"Wall street analysts\"\" are the investment banks that want the companies to do business through them and thus it is a win/win relationship as the bank gets some fees for all the transactions done for the company while the company gets another cheerleader to try to play up the stock.\"",
"title": ""
},
{
"docid": "9a645e71c88b090fb161d6d1f0924ae6",
"text": "\"Rating agencies are pretty garbage, the market is always a few steps ahead of them. However, India is rated lower as it has not been an economic \"\"power\"\" for a long time ans is still developing. However the market rates on bonds tell a different story, and that is that India is safer than Spain to lend to. It is also easier to go after assets in Spain a Eurozone country than India, however Indian debt in Rupees should be safer than Spanish debt in Euros as India can fire up the printer if necessary. Indian yield on the 10 year is ~ 8.5% inflation is 7.5% giving a real yield of 1% Spanish 10 year is 6.87% and Eurozone inflation is 2.4% giving a real yield of 4.47%. The market doesn't agree with S&P.\"",
"title": ""
},
{
"docid": "9ba531704a6a6569d654bfcf27ce3fb7",
"text": "\"Morningstar is often considered a trusted industry standard when it comes to rating mutual funds and ETFs. They offer the same data-centric information for other investments as well, such as individual stocks and bonds. You can consult Morningstar directly if you like, but any established broker will usually provide you with Morningstar's ratings for the products it is trying to sell to you. Vanguard offers a few Emerging Markets stock and bond funds, some actively managed, some index funds. Other investment management companies (Fidelity, Schwab, etc.) presumably do as well. You could start by looking in Morningstar (or on the individual companies' websites) to find what the similarities and differences are among these funds. That can help answer some important questions: I personally just shove a certain percentage of my portfolio into non-US stocks and bonds, and of that allocation a certain fraction goes into \"\"established\"\" economies and a certain fraction into \"\"emerging\"\" ones. I do all this with just a few basic index funds, because the indices make sense (to me) and index funds cost very little.\"",
"title": ""
},
{
"docid": "4b7f47bdc14e36e7029400f4aa22011d",
"text": "Actually, you're missing the key feature of CDOs. Most CDOs use (much to our economic misery, ultimately) a system call tranching. To simplify this idea, I'll make a two tranch example. Suppose I buy mortgages covering a face value of $120,000,000. Because they are subprime, if I just put them in a pool and finance them with bonds, the rating will be lousy and most investors will shun them (at least investors who are safety oriented). What I do is divide them into two tranches. One bond issue is for $100,000,000 and another for $20,000,000. The idea is that any defaulting mortgage comes out of the latter bond issue. I'll probably keep these bonds (the lower tranch). Thus buyers of the first issue are safe unless defaults exceed $20,000,000. Then the rating agencies rate the first issue AAA and it gets snapped up by investors. In a strict sense it is overcollateralized, basically the entire $120,000,000 backs up the first bond issue. In reality, many CDOs had multiple tranches, with the lowest tranch being retained by the underwriters and the other tranches sold as bonds of various ratings.",
"title": ""
},
{
"docid": "bbdb17034da83f541b45c12d27ec2b61",
"text": "rawbdor is spot on both in terms of the divident yield and the ratings. BAC and C should have no dividend at all. They have liquidity due to the FED but they still have loads of debt that needs to be written off. For all intents and purposes they bankrupt but are kept alive as zombie banks by the FED and the market is pricing them as such. As we've seen time and again, the ratings agencies are lagging indicators regarding value. Once the market loses faith in an enterprise, the ratings agencies have no choice but to downgrade. The *only* reason the major agencies are in business is because they are a state sanctioned oligopoly. Essentially mutual/ money market funds cannot operate without these agencies by law.",
"title": ""
},
{
"docid": "2027b3ebdcb1a87ae89afa3da0ca9733",
"text": "You can call it a stock rating of say between 0 to 5 or 0 to 10 or whatever scale you want to use. It should not be called a recommendation but rather a rating based on the criterial you have analysed. Also a scale from say 0 to 5 is better than using terms like buy, hold and sell.",
"title": ""
},
{
"docid": "b4892243086c3dcd9db498e02a2f6c63",
"text": "Right. A banker provides a product/service, whether it be liquidity or something else, for a premium. The Rothschilds, for example (I'm only familiar with them because I like their wine), are typical examples of some of the first bankers of the modern era-- they provided the ability to exchange currencies at a market value, and it made them one of the wealthiest families of the modern world. If someone doesn't like banks, then let them walk onto the NYSE and make their own investment decisions. Which is a terrible idea because it's statistically almost impossible to beat the market. If you wanted to be able to prove that you are a successful investor you would have to have higher earnings than a market portfolio every day for around 180 years, in order to have a T-statistic of about 2.0.",
"title": ""
},
{
"docid": "3dfba7595dbb91e360d60b0b825f095b",
"text": "This was my exact thought when I first heard. It just sounds like inflation to me & I don't understand the logic. If everyone on average gets say...a ~3% boost on their score, why wouldn't banks just adjust their standards by 3%?",
"title": ""
},
{
"docid": "132e687702aa3c1ab0f5f97c9facfc6f",
"text": "If you are interested in this stuff, S&P produce a sovereign rating methodolgy, in which they will tell you exactly what factors they look at. Once you read this, you can obtain their latest rating report on India and Spain to understand how they applied said methodology in each case. (Not sure if this is free)",
"title": ""
},
{
"docid": "1479bfc3f23662f17bdf12c0074e13f8",
"text": "\"I like Muro questions! No, I don't think they do. Because for me, as a personal finance investor type just trying to save for retirement, they mean nothing. If I cannot tell what the basic business model of a company is, and how that business model is profitable and makes money, then that is a \"\"no buy\"\" for me. If I do understand it, they I can do some more looking into the stock and company and see if I want to purchase. I buy index funds that are indexes of industries and companies I can understand. I let a fund manager worry about the details, but I get myself in the right ballpark and I use a simple logic test to get there, not the word of a rating agency. If belong in the system as a whole, I could not really say. I could not possibly do the level of accounting research and other investigation that rating agencies do, so even if the business model is sound I might lose an investment because the company is not an ethical one. Again, that is the job of my fund manager to determine. Furthermore and I mitigate that risk by buying indexes instead of individual stock.\"",
"title": ""
}
] | fiqa |
550febdef96099677e38e715f239976a | Can stockholders choose NOT to elect a board of directors? | [
{
"docid": "858be1e860e05f41c82fbe549bc5158d",
"text": "Under Sarbanes–Oxley, no. There are specific responsibilities vested in the board members. Without a CEO and a CFO, the quarterly financial reports cannot be signed off. Many countries have similar responsibilities for board members, and by the same reasoning therefore a need for board members.",
"title": ""
}
] | [
{
"docid": "def94f1988385a28e1e4760f02a63683",
"text": "They can, at any time, unless it explicitly says otherwise in the bylaws, kick the CEO out for any reason. In many cases, I believe his salary is dictated by the board of directors (elected by the shareholders iirc), as it couldn't be feasibly done so by anyone else, since they work for him (her).",
"title": ""
},
{
"docid": "d80b33775084481e3cce09445f2b3a83",
"text": "I don't think that you will be able to find a list of every owner for a given stock. There are probably very few people who would know this. One source would be whoever sends out the shareholder meeting mailers. I suspect that the company itself would know this, the exchange to a lesser extent, and possibly the brokerage houses to a even lesser extent. Consider these resources:",
"title": ""
},
{
"docid": "e51a130fe1c7a6a69cca14afabb9d37e",
"text": "Whether or not you want to abstain or throw away the proxy, one reason it's important to at least read the circular is to find out if any of the proposals deal with increasing the company's common stock. When this happens, it can dilute your shares and have an effect on your ownership percentage in the company and shareholder voting control.",
"title": ""
},
{
"docid": "7357993aa3e3e8e6d746463fbc6fefa2",
"text": "Shares often come associated with a set of rights, such as ability to vote in the outcome of the company. Some shares do not have this right, however. With your ability to vote in the outcome of the company, you could help dictate that the company paid dividends at a point in time. Or many other varieties of outcomes. Also, if there were any liquidity events due to demand of the shares, this is typically at a much higher price than the shares are now when the company is private/closely held.",
"title": ""
},
{
"docid": "f130cbf649f1927e057d58350102db01",
"text": "You can apply for a position with any company you like, whether or not you are a shareholder. However, owning shares in a company, even lots of shares in a company, does not entitle you to having them even look at your resume for any job, let alone the CEO position. You generally cannot buy your way into a job. The hiring team, if they are doing their job correctly, will only hire you if you are qualified for the job, not based on what your investments are. Stockholders get a vote at the shareholders' meeting and a portion of the profits (dividend), and that's about it. They usually don't even get a discount on products, let alone a job. Of course, if you own a significant percentage of the stock, you can influence the selections to the board of directors. With enough friends on the board, you could theoretically get yourself in the CEO position that way.",
"title": ""
},
{
"docid": "1c21c7c12dfb0853ecc3003ed4544234",
"text": "Alot of these answers have focused on the dilution aspect, but from a purely legal aspect, there are usually corporate bylaws that spell out what kind of vote and percentage of votes is needed to take this type of action. If all other holders of stock voted to do this, so 90% for, and you didn't, so 10% against, it's still legal if that vote meets the threshold for taking the action. As an example of this, I known of a startup where employees got $0/share for their vested shares when the company was sold because the voting stock holders agreed to it. Effectively the purchase amount was just enough to cover debts and preferred stock.",
"title": ""
},
{
"docid": "abb4cdd47e8ddd5e34572e51cc065730",
"text": "Shareholders can [often] vote for management to pay dividends Shareholders are sticking around if they feel the company will be more valuable in the future, and if the company is a target for being bought out. Greater fool theory",
"title": ""
},
{
"docid": "f5fe6bf4105d8bd78f591f6298bb715c",
"text": "A company CAN hold on to money. This is called retained earnings. Not all money is due back to the owners (i.e. stockholders), but only the amount that the board of directors chooses to pay back in the form of dividends. There is a lot more detail around this, but this is the simple answer to your question.",
"title": ""
},
{
"docid": "23cee925ddbb4a7e32c9671b6bf45718",
"text": "It depends. If you accept the offer, then your stock will cease existing. If you reject the offer, then you will become a minority shareholder. Depending on the circumstances, you could be in the case where it becomes illegal to trade your shares. That can happen if the firm ceases to be a public company. In that case, you would discount the cash flows of future dividends to determine worth because there would be no market for it. If the firm remained public and also was listed for trading, then you could sell your shares although the terms and conditions in the market would depend on how the controlling firm managed the original firm.",
"title": ""
},
{
"docid": "9847099de65fe2eb86b26c98f0d179cb",
"text": "I don't know about the liquidation. The capital doesn't evaporate, its source just becomes the corporation itself. The corporation becomes the sole shareholder and acts at the behest of the board. The board then decides both board matters and shareholder matters. Once I talked that through, I realized no one would do this. If the board is in complete control, why clump the ownership together. The directors would be better served by clearly delineating their ownership interests by purchasing shares directly.",
"title": ""
},
{
"docid": "b0d37a12b0ea81470660693086bfb85c",
"text": "If you don't have any voting rights then you don't have much say in the direction of the company. Of course, if the majority of voting rights are held by 1 or 2 people/institutions then you probably don't have much say regardless. That said, 0.1% isn't a whole lot of a voice anyway.",
"title": ""
},
{
"docid": "1ca3c5ec07188a8c92c46fb578d192c7",
"text": "Converting the comment from @MD-Tech into answer How or where could I find info about publicly traded companies about how stock owner friendly their compensation schemes are for their board and officers? This should be available in the annual report, probably in a directors' remunerations section for most companies",
"title": ""
},
{
"docid": "e44598dada0a8ebf91496f7b40fd3b2c",
"text": "Shares are partial ownership of the company. A company can issue (not create) more of the shares it owns at any time, to anyone, at any price -- subject to antitrust and similar regulations. If they wanted to, for example, flat-out give 10% of their retained interest to charity, they could do so. It shouldn't substantially affect the stock's trading for others unless there's a completely irrational demand for shares.",
"title": ""
},
{
"docid": "f7cdbd5dd389fb80982ef569d7a2e2ea",
"text": "Yes and no. This really should be taught at junior school level in a capitalist country but that is a different argument. A company is influenced by its shareholders but not in the way you are hoping. This is the only area where a Company must behave democratically with one share one vote. If you own one share in a company (specifically a voting share), then you are entitled to attend an AGM where you will have a vote on issues presented by the board. You might have an opportunity to make a statement or ask a question at the AGM, but I wouldn't rely on it. You will not be able to influence the companies behavior beyond that unless you control enough shares to influence the board. Notice I said 'control' not 'own'. If you get other shareholders to agree to vote with you, then you effectively control their shares. Shareholders are there to get a return on their investment, so you must convince them that they will get a better return by agreeing with you then by following the board (that they put there!). Convince them that (for example) a trespass lawsuit will rob the company of more value then the profit to be made and they might agree to not trespass. Morals, ethics, justice etc., are human attributes and since most shareholders are other corporations not humans, they have no place in your arguments with one exception; Goodwill is a value that appears on a balance sheet and you might be able to use emotional arguments to show that there is a risk of a loss of goodwill from the proposed actions. You can make your argument stronger by generating media pressure on customers and suppliers of the company to make critical public comments.",
"title": ""
},
{
"docid": "21dc9abe53c4abd581bbc4cc434ccffd",
"text": "...ok, you understand that the board of directors don't collect all of the profit from a company, and that shareholders can sell stock, right? It his honestly confusing to me that you have a problem with shareholders being given ownership in a company that is spun off from the company that they own.",
"title": ""
}
] | fiqa |
23650289e2b48129b025cf9ff2ef5ac3 | Where can I find a definition of psychological barriers with respect to marketable securities? | [
{
"docid": "1cfd5c071ece40bdd85ae9c33535821a",
"text": "GuruFocus has an excellent summary of psychological barriers in the markets: http://www.gurufocus.com/news.php?id=88451",
"title": ""
},
{
"docid": "efb813618f6d3e14b6aa37b49a49211a",
"text": "I will teach you to be rich blog is all about psychological barriers and behavioural change.",
"title": ""
},
{
"docid": "a89681bcffbf1b48ff39c8843adcd375",
"text": "\"I think \"\"Psychological Pricing\"\" is a similar phenomenon to what you are looking for. This is where retailers use certain numbers in prices because those prices are more appealing to consumers. Since stocks - and in your case bitcoin - have prices, they too will be more or less appealing at different prices based on psychology alone.\"",
"title": ""
}
] | [
{
"docid": "8fd096c812c0ad78c3fd458f3ed8988e",
"text": "In fact markets are not efficient and participants are not rational. That is why we have booms and busts in markets. Emotions and psychology play a role when investors and/or traders make decisions, sometimes causing them to behave in unpredictable or irrational ways. That is why stocks can be undervalued or overvalued compared to their true value. Also, different market participants may put a different true value on a stock (depending on their methods of analysis and the information they use to base their analysis on). This is why there are always many opportunities to profit (or lose your money) in liquid markets. Doing your research, homework, or analysis can be related to fundamental analysis, technical analysis, or a combination of the two. For example, you could use fundamental analysis to determine what to buy and then use technical analysis to determine when to buy. To me, doing your homework means to get yourself educated, to have a plan, to do your analysis (both FA and TA), to invest or trade according to your plan and to have a risk management strategy in place. Most people are too lazy to do their homework so will pay someone else to do it for them or they will just speculate (on the latest hot tip) and lose most of their money.",
"title": ""
},
{
"docid": "7664a51de25f2cd352a3584104a914df",
"text": "Those are the three books that were considered fundamental at my university: Investments - Zvi Bodie (Author), Alex Kane (Author), Alan Marcus (Author), Stylianos Perrakis (Author), Peter Ryan (Author) This book covers the basics of financial markets. It explains how markets work, general investing principles, basic risk notions, various types of financial instruments and their characteristics and portfolio management principles. Futures and Options markets - John C. Hull This book goes more in depth into derivatives valuation and the less common / more complex instruments. The Handbook of Fixed Income Securities This books covers fixed income securities. In all cases, they are not specifically math-oriented but they do not shy away from it when it is called for. I have read the first and the other two were recommended by professors / friends now working in financial markets.",
"title": ""
},
{
"docid": "012987ba2771a182c17825ec9343c062",
"text": "I’ll start with what worked for me, to get me hooked. This list is by no means exhaustive. *One Up On Wall Street* by Peter Lynch discusses competitive advantages and staying close to the story of a business. Explores the concept of ‘buy what you know’. He has also written *Beating the Street*. *The Drunkard’s Walk: How Randomness Rules Our Lives* by Leonard Mlodinow is not dissimilar to *A Random Walk Down Wall Street*, but I preferred this book as it explores the concepts of randomness and survivors bias. *Against the Gods* by Peter Bernstein is a dense book, but in my opinion is the definitive text on the development of numbers, probability theory, and risk management. I absolutely love this book. *The Most Important Thing* by Howard Marks is immensely readable, enjoyable, and looks at value investing for the long run. Howard Marks has been a macro behavioural investor before behavioural investing was a thing. Speaking of behavioural biases, *Thinking, Fast and Slow* by Daniel Kahneman is a spectacular look at how your brain’s quick-trigger responses can often be wrong. On the subject of behaviour and biases, *Influence: The Psychology of Persuasion* by Robert Cialdini is another topic-defining book More books by long term veteran professional investment managers that should be enjoyed: - *The Little Book That (Still) Beats the Market* by Joel Greenblatt - *Beat the Crowd* by Ken Fisher - *Big Money Thinks Small* by Joel Tillinghast - *Common Stocks and Uncommon Profits* by Philip A. Fisher - *The Little Book of Behavioural Investing* by James Montier - *Margin of Safety* by Seth Klarman And I’ll be banned from this forum without mentioning *The Intelligent Investor* by Benjamin Graham. As per some other comments, my personal opinion is that books that describe events or periods of time like *Liars’ Poker* [80s Junk Bonds], *The Big Short* [Financial Crisis], *When Genius Failed* [the LTCM collapse, excellent read by Rogers Lowenstein], *All The Devils Are Here* [by McLean and Nocera, another Financial Crisis book, much better than Lewis’s, IMO] are all educational and quite entertaining, but don’t honestly have much to do with the actual nuts and bolts of the real financial industry. Enjoy!",
"title": ""
},
{
"docid": "86f8b680288b3148d009e292802c9b40",
"text": "Traditionally, dealers and broker-dealers were in contact with the actual producers of a product or issuers of a security, selling it at the exchange on their behalf. Consumers would traditionally be on the buy side, of course. These days, anyone can enter the market on either side. Even if you don't hold the security or product, you could sell it, and take on the risk of having to stock up on it by the delivery date in exchange for cash or other securities. On the other side, if you can't hold the product or security you could still buy it, taking on the risk of having to dispose of it somehow by delivery in exchange for cash or other securities. In either case you (the sell-side) take on risk and provide products/securities/cash. This is most commonly known as market making. Modern literature coins the terms liquidity taker (buy-side) and liquidity provider (sell-side). Even more accurately, risk management literature would use the terms risk-taker (sell-side) and risk spreader or risk reducer (buy side). This is quite illustrative in modern abstract markets. Take a market that allows for no offsetting or hedging because the product in question is abstract or theoretical, e.g. weather trading, volatility trading, inflation trading, etc. There's always one party trying to eliminate dependence on or correlation to the product (the risk reducer, buy-side) and the counterparty taking on their risk (sell-side).",
"title": ""
},
{
"docid": "15b52b86f7b74d9cb9d797fc14f2a66d",
"text": "Good addition. When learning finance and business, /u/msattam, realize the world does not work cleanly like it does in a textbook. You have added complexity, both systemic and human caused. And that there is a very good reason that we must understand agency issues and how to mitigate those risks.",
"title": ""
},
{
"docid": "c6b369eb3203921bb4621f9398674518",
"text": "While the issuer of the security such as a stock or bond not the short is responsible for the credit risk, the issuer and the short of a derivative is one. In all cases, it is more than likely that a trader is owed securities by an agent such as a broker or exchange or clearinghouse. Legally, only the Options Clearing Corporation clears openly traded options. With stocks and bonds, brokerages can clear with each other if approved. While a trader is expected to fund margin, the legal responsibility is shared by all in the agent chain. Clearinghouses are liable to exchanges. Exchanges are liable to members. Traders are liable to brokerages. Both ways and so on. Clearinghouses are usually ultimately liable for counterparty risk to the long counterparty, and the short counterparty is ultimately liable to the clearinghouse. Clearinghouses are not responsible for the credit risk of stocks and bonds because the issuers are not short those securities on the exchange, thus no margin is required. Credit risk for stocks and bonds is mitigated away from the clearing process.",
"title": ""
},
{
"docid": "0e56536646a6bb78b874992c3447e0b7",
"text": "Thanks for your reply. I’m not familiar with the term “Held-For-Trading Security”. My securities are generally held as collateral against my shorts. To clarify, I am just trying to track the “money in” and “money out” entries in my account for the shorts I write. The transaction is relatively straight forward, except there is a ton of information attached! In simple terms, for the ticker CSR and short contract CSRUQ8, the relevant entries look something like this: There are no entries for expiries. I need to ensure that funds are available for future margin calls and assignments. The sale side using covered calls is as involved.",
"title": ""
},
{
"docid": "0221b08de55ce6d99cfc7df8255d9b26",
"text": "Hey thanks for your response. The commodity is actually electricity, so definitely not able to store. Would you mind giving me a short summary of your thought process or an example of how you compare liquid markets vs illiquid ones when looking at more traditional commodities? If that is a bit much to ask, as I am sure it could get quite involved do you have any reading recommendations? This little project has sparked an interest.",
"title": ""
},
{
"docid": "eea837f2962ad63b6cc13e0c938fd84a",
"text": "Support and resistance only works as a self-fulfilling prophecy. If everyone trading that stock agrees there's a resistance at so-and-so level, and it is on such-and-such scale, then they will trade accordingly and there will really be a support or resistance. So while you can identify them at any time scale (although as a rule the time scale on which you observed them should be similar to the time scale on which you intend to use them), it's no matter unless that's what all the other traders are thinking as well. Especially if there are multiple possible S/P levels for different time scales, there will be no consensus, and the whole system will break down as one cohort ruins the other group's S/P by not playing along and vice versa. But often fundamentals are expected to dominate in the long run, so if you are thinking of trades longer than a year, support and resistance will likely become meaningless regardless. It's not like that many people can hold the same idea for that long anyhow.",
"title": ""
},
{
"docid": "e302b03f30b9eddbdda22282b45ba6e9",
"text": "Not directly an answer to your question, but somewhat related: There are derivatives (whose English name I sadly don't know) that allow to profit from breaking through an upper or alternatively a lower barrier. If the trade range does not hit either barrier you lose. This kind of derivative is useful if you expect a strong movement in either direction, which typically occurs at high volume.",
"title": ""
},
{
"docid": "915530153fe8420174831d635f1a06ce",
"text": "It's about how volatile the instrument is. Brokers are concerned not about you but about potential lawsuits stemming from their perceived inadequate risk management - letting you trade extremely volatile stocks with high leverage. On top of that they run the risk of losing money in scenarios where a trader shorts a stock with all of the funds, the company rises 100% or more by the next day, in which case the trader owes money to the broker. If you look in detail you'll see that many of the companies with high margin requirements are extremely volatile pharmaceutical companies which depend heavily of FDA approvals.",
"title": ""
},
{
"docid": "13492f613d44ac8d043dd5fe1e34290f",
"text": "Historically there weren't really high barriers to get in, but I find nowadays that banks are looking for quant backgrounds (MQF, ME, MFin) even though it isn't really required unless you're working in modeling. Maybe pursuing a master's program would help. Another route considering your BA experience, you could try to get involved in regulatory projects at a bank. It's a bit of a longshot since they tend to use consulting firms. Get involved with that and you'll interact with risk reporting teams and could work from there. Other than that, get a lucky break haha, knowing someone definitely helps.",
"title": ""
},
{
"docid": "0ef268dc015520b43687afb038fb8c2c",
"text": "You should check out existing resources like Investopedia for definitions, and ask questions if there is something you do not understand, instead of asking folks to spit out definitions. A good book for you to read might be Wall Street Words",
"title": ""
},
{
"docid": "cf558c2e2343e30252737004eaaee0fe",
"text": "\"Although this has been touched upon in comments, I think the following line from the currently accepted answer shows the biggest issue: There is a clear difference between investing and gambling. The reality is that the difference isn't that clear at all. Tens of comments have been written arguing in both directions and looking around the internet entire essays have been written arguing both positions. The underlying emotion that seems to shape this discussion primarily is whether investing (especially in the stock market) is a form of gambling. People who do invest in this way tend to get relatively emotional whenever someone argues that this is a form of gambling, as gambling is considered a negative thing. The simple reality of human communication is that words can be ambiguous, and the way investors will use the words 'investments' and 'gambles' will differ from the way it is used by gamblers, and once again different from the way it's commonly used. What I definitely think is made clear by all the different discussions however is that there is no single distinctive trait that allows us to differentiate investing and gambling. The result of this is that when you take dictionary definitions for both terms you will likely end up including lottery tickets as a valid form of investment. That still however leaves us with a situation where we have two terms - with a strong overlap - which have a distinctive meaning in communication and the original question whether buying lottery tickets is an investment. Over on investorguide.com there is an absolutely amazing strongly recommended essay which explores countless of different traits in search of a difference between investing and gambling, and they came up with the following two definitions: Investing: \"\"Any activity in which money is put at risk for the purpose of making a profit, and which is characterized by some or most of the following (in approximately descending order of importance): sufficient research has been conducted; the odds are favorable; the behavior is risk-averse; a systematic approach is being taken; emotions such as greed and fear play no role; the activity is ongoing and done as part of a long-term plan; the activity is not motivated solely by entertainment or compulsion; ownership of something tangible is involved; a net positive economic effect results.\"\" Gambling: \"\"Any activity in which money is put at risk for the purpose of making a profit, and which is characterized by some or most of the following (in approximately descending order of importance): little or no research has been conducted; the odds are unfavorable; the behavior is risk-seeking; an unsystematic approach is being taken; emotions such as greed and fear play a role; the activity is a discrete event or series of discrete events not done as part of a long-term plan; the activity is significantly motivated by entertainment or compulsion; ownership of something tangible is not involved; no net economic effect results.\"\" The very interesting thing about those definitions is that they capture very well the way those terms are used by most people, and they even acknowledge that a lot of 'investors' are gambling, and that a few gamblers are 'investing' (read the essay for more on that). And this fits well with the way those two concepts are understood by the public. So in those definitions normally buying a lottery ticket would indeed not be an investment, but if we take for example Vadim's operation example If you have $1000 and need $2000 by next week or else you can't have an operation and you will die (and you can't find anyone to give you a loan). Your optimal strategy is to gamble your $1000, at the best odds you can get, with a possible outcome of $2000. So even if you only have a 1/3 chance of winning and getting that operation, it's still the right bet if you can't find a better one. this can suddenly change the perception and turn 'gambling' into 'high-risk investing'.\"",
"title": ""
},
{
"docid": "ee13d447ca63a0e4424994931d061598",
"text": "https://www.hussmanfunds.com/wmc/wmc171009m.png >The following charts will provide a sense of where the U.S. equity market currently stands. The first chart shows our margin-adjusted CAPE, which as noted above has a correlation of about -0.89 with actual subsequent market returns across U.S. market cycles since the 1920’s. https://www.hussmanfunds.com/wmc/wmc171009.htm It will turn, downside potential is historic.",
"title": ""
}
] | fiqa |
dd62d20a42c83ea652e81e7121061316 | Is my stock gone forever from a reverse split / bought by another company? | [
{
"docid": "b45f126f3c25dce1dc0fadc80c469012",
"text": "GT BIOPHARMA, INC. ANNOUNCES REVERSE STOCK SPILT AS PART OF OXIS-GEORGETOWN PLANNED MERGER LOS ANGELES, CA / ACCESSWIRE / August 21, 2017 / GT Biopharma Inc. (formerly known as Oxis International, Inc.) announced today a 1-for-300 reverse stock split. Shareholders of GT Biopharma Inc. (OTCQB: OXIS and Euronext Paris: OXI.PA) will be issued 1 share of common stock for every 300 shares common stock that they owned. If you owned fewer than 300 shares, they cashed you out.",
"title": ""
},
{
"docid": "d32151d5001aad8890853e80ac7c273a",
"text": "You can't own fractional shares. If the Reverse Split resulted in you having less a full share (for example, if you had 500 shares, and they did a 1000:1 reverse split), your fractional share was cashed in (sold). That could be that 'money market' activity shown on the next day? It is your responsibility to be prepared for a reverse split, by either selling at your desired price, or buying more shares, so you end with an integer number of shares after the reverse split.",
"title": ""
}
] | [
{
"docid": "85f66c1e48bebc938ca53a2fc722f965",
"text": "Sure. No-one promises that all the outstanding stocks are ever for sale, but if you get them all - you get them all, what marketplace you used for that doesn't really matter.",
"title": ""
},
{
"docid": "87a5f0d18bc2cb7e78e815104cdd5230",
"text": "TD will only sell the stock for you if there's a buyer. There was a buyer, for at least one transaction of at least one stock at 96.66. But who said there were more? Obviously, the stocks later fell, i.e.: there were not that many buyers as there were sellers. What I'm saying is that once the stock passed/reached the limit, the order becomes an active order. But it doesn't become the only active order. It is added to the list, and to the bottom of that list. Obviously, in this case, there were not enough buyers to go through the whole list and get to your order, and since it was a limit order - it would only execute with the limit price you put. Once the price went down you got out of luck. That said, there could of course be a possibility of a system failure. But given the story of the market behavior - it just looks like you miscalculated and lost on a bet.",
"title": ""
},
{
"docid": "d59124eccf47deb2ef6ffae2a2ea1012",
"text": "\"IT appears the company you're talking about did not report as you expected them to, which is not unusual for OTC companies because, as Milo stated, they are not well-managed. That being said, reports on EDGAR are available as soon as they're posted. I'm not aware of any lag between when the company uploads their report and it is available on the EDGAR site. Looking at the profile of the company you're referring to, I'm curious why you'd be so interested in a company with huge negative earnings, a near-zero share price, and an obviously spotty history of reporting its numbers. In order to make any money with this stock, you'd have to buy a huge number of shares, which could be difficult to unload. Further, the fees you're going to pay to make your trades are very likely to outstrip your return, so you'd be upside down on it. This company has pretty negative financials, and in a world of cheap oil, alternative energy (and the companies that deal in it) are out of vogue, so they're not likely to see a turnaround anytime soon. They're spending money on R & D at a rate almost 17 times earnings, and the losses are deepening, while revenues are not improving all that much. These guys are bleeding to death, and there's little prospect of a financial transfusion on the horizon. This is, as they say, a \"\"dog with fleas\"\", so your best bet is to find something else to put your money into. I hope this helps. Good luck!\"",
"title": ""
},
{
"docid": "d14bd292a77a4be4df97f1758049b91b",
"text": "A reason not to split your stock is that the value of the company might fall back again, and if its stock price falls below $1 it will be delisted from the NYSE. So if the value of your company grows tenfold so the shares go from $5 to $50, you do a ten-for-one split, and then its value shrinks back to where it started, you're off the stock exchange.",
"title": ""
},
{
"docid": "ceee56ce06dd928fa024bac82149b0aa",
"text": "\"EDIT quid keenly identified the 1:7 reverse split In May 2017. In a 1:7 reverse split, your shares are worth 7 times as much per share but you have 1/7 the amount of shares. A share worth $3.78 now was worth (all else being equal) $0.54 a month ago. So a call with a $2.50 strike a month ago was well out-of-the-money, and would now be the equivalent of a call with a $17.50 strike. A $17.50 call with a $3.78 underlying (or a $2.50 call with a $0.54 underlying) would reasonably be worth only 5 cents. So I now suspect that the quote is a stale quote that existed pre-split and hasn't been adjusted by the provider. OLD ANSWER I can find no valid reason why those calls would be so cheap. The stock price has been trending down from its onset in 2000, so either no one expects it to be above $2.50 in a month or it's so illiquid that there's not any real data to evaluate the options. They did pay some massive (30%) dividends in 2010 and 2012, they've been hemorrhaging cash for the past 4 years at least, and I have found at least on \"\"strong sell\"\" rating, so there's not much to be optimistic about. NASDAQ does not list any options for the stock, so it must be an OTC trade. With an ask size of 10 you could buy calls on 1,000 shares for $0.05, so if you can afford to lose $50 and want to take a flyer you can give it a shot, but I suspect it's not a valid quote and is something that's been manufactured by the option broker.\"",
"title": ""
},
{
"docid": "bcf6d7697232b49f82be486e06406df7",
"text": "In my mind you would get all the money. You owned 100% when that transaction occurred. S/He gets 10% then on everything after. I usually go to an extreme case to figure out the answer. So... If S/He bought 100% of the company it wouldn't go to the company it would go to you. I would be open to criticism on this answer I am answering from common sense not because I really know the answer.",
"title": ""
},
{
"docid": "4f86a8a4bb3fa8d170e7d2cb5f67b104",
"text": "Thanks for your thorough reply. Basically, I found a case study in one of my old finance workbooks from school and am trying to complete it. So it's not entirely complicated in the sense of a full LBO or merger model. That being said, the information that they provide is Year 1 EBITDA for TargetCo and BuyerCo and a Pro-Forma EBITDA for the consolidated company @ Year 1 and Year 4 (expected IPO). I was able to get the Pre-Money and Post-Money values and the Liquidation values (year 4 IPO), as well as the number of shares. I can use EBITDA to get EPS (ebitda/share in this case) for both consolidated and stand-alone @ Year 1, but can only get EPS for consolidated for all other years. Given the information provided. One of the questions I have is do I do anything with my liquidation values for an accretion/dilution analysis or is it all EPS?",
"title": ""
},
{
"docid": "20c3d037ccb3aa7d5bcdc2c34385c2e7",
"text": "You sold all shares? The potential wash sale effect goes away after 30 days from the dividend date. Selling all shares of a stock where a wash existed effectively negates the wash and you can take the loss.",
"title": ""
},
{
"docid": "0a299e9b5fe53b1883576534216b21ba",
"text": "You have not lost value. It is just that the shares you owned, are now not tradable on US stock exchanges. You still have the value of your shares protected. In cases like de-listing of a stock, typically a trust (may be managed by a bank) is setup to help customers liquidate their stocks. You should try to search the relevant SEC filings for de-listing of this stock to get more details on whom to contact.",
"title": ""
},
{
"docid": "118f1fbf7eb836f14915e0f4692b9341",
"text": "\"You didn't win in case B. Borrowing shares and then selling them is known as \"\"selling short\"\". You received $2000 when you sold short 100 shares at $20. You spent $1000 to buy them back at $10, so you come out $1000 ahead on that deal. But at the same time, the 100 shares you already owned have declined in value from $20 to $10, so you are down $1000 on that deal. So you've simply broken even, and you are still out the interest and transaction fees. In effect, a short sale allows you to sell shares you don't own. But if you do already own them, then the effect is the same as if you just sold your own shares. This makes it easier to see that this is just a complicated and expensive way of accomplishing nothing at all.\"",
"title": ""
},
{
"docid": "32778590fecaad9af44b55729a0b9ea3",
"text": "I have been careful here to cover both shares in companies and in ETFs (Exchange Traded Funds). Some information such as around corporate actions and AGMs is only applicable for company shares and not ETFs. The shares that you own are registered to you through the broker that you bought them via but are verified by independent fund administrators and brokerage reconciliation processes. This means that there is independent verification that the broker has those shares and that they are ring fenced as being yours. The important point in this is that the broker cannot sell them for their own profit or otherwise use them for their own benefit, such as for collateral against margin etc.. 1) Since the broker is keeping the shares for you they are still acting as an intermediary. In order to prove that you own the shares and have the right to sell them you need to transfer the registration to another broker in order to sell them through that broker. This typically, but not always, involves some kind of fee and the broker that you transfer to will need to be able to hold and deal in those shares. Not all brokers have access to all markets. 2) You can sell your shares through a different broker to the one you bought them through but you will need to transfer your ownership to the other broker and that broker will need to have access to that market. 3) You will normally, depending on your broker, get an email or other message on settlement which can be around two days after your purchase. You should also be able to see them in your online account UI before settlement. You usually don't get any messages from the issuing entity for the instrument until AGM time when you may get invited to the AGM if you hold enough stock. All other corporate actions should be handled for you by your broker. It is rare that settlement does not go through on well regulated markets, such as European, Hong Kong, Japanese, and US markets but this is more common on other markets. In particular I have seen quite a lot of trades reversed on the Istanbul market (XIST) recently. That is not to say that XIST is unsafe its just that I happen to have seen a few trades reversed recently.",
"title": ""
},
{
"docid": "f1356e9e5e523c2d79e5036f86cc129c",
"text": "During a stock split the only thing that changes is the number of shares outstanding. Typically a stock splits to lower its price per share. Sometimes if a company's value is falling it will do a reverse split where X shares will be exchanged for Y shares. This is typically done to avoid being de-listed from an exchange if the price per share falls below a certain threshold, usually $1. Again the only thing changing is the number of shares outstanding. A 20 for 1 reverse split means for every 20 shares outstanding the shareholder will be granted one new share. Example X Co. has 1,000,000 shares outstanding for a price of $100 per share. It does a 1 for 10 split. Now there are 10,000,000 shares outstanding for a price of $10 per share. Example Y Co has 1,000,000 shares outstanding for a price of $1 per share. It does a 10 for 1 reverse split. Now there are 100,000 shares outstanding for a price of $10. Quickly looking at the news for ASTI it looks like it underwent a 20 for 1 reverse split. You should probably look at your statements and ask your broker how the arithmetic worked in your case. Investopedia links for Reverse Stock Split and Stock Split",
"title": ""
},
{
"docid": "ab0454cb97484b5aee38694219afe541",
"text": "\"I can see two possibilities. Either a deal is struck that someone (the company itself, or a large owner) buys out the remaining shares. This is the scenario @mbhunter is talking about, so I won't go too deeply into it, but it simply means that you get money in your bank account for the shares in question the same as if you were to sell them for that price (in turn possibly triggering tax effects, etc.). I imagine that this is by far the most common approach. The other possibility is that the stock is simply de-listed from a public stock exchange, and not re-listed elsewhere. In this case, you will still have the stock, and it will represent the same thing (a portion of the company), but you will lose out on most of the \"\"market\"\" part of \"\"stock market\"\". That is, the shares will still represent a monetary value, you will have the same right to a portion of the company's profits as you do now, etc., but you will not have the benefit of the market setting a price per share so current valuation will be harder. Should you wish to buy or sell stock, you will have to find someone yourself who is interested in striking a deal with you at a price point that you feel comfortable with.\"",
"title": ""
},
{
"docid": "04d97ff77a153c1e771486cd85801577",
"text": "Most of the time when a stock splits to create more shares, it is done to bring the price per share down to a level that makes potential investors more comfortable. There are psychological reasons why some companies keep the price in the $30 to $60 range. Others like to have the price keep rising into the hundreds or thousands a share. The split doesn't help current investors, with the possible exception that the news spurs interest in the stock which leads to a short term rise in prices; but it also doesn't hurt current investors. When a reverse stock split is done, the purpose is for one of several reasons:",
"title": ""
},
{
"docid": "991240f96aa876cf44025766dd5df7bc",
"text": "If you want to see one split, well, a reverse split anyway, keep an eye on TZA, FAZ, BGZ, and any Direxion fund. These funds decay continuously forever. Once they get close to $10-$15 or so, they reverse-split them back to the $30-$50 range and the process starts over. This happens about once a year. A few years ago I sent Direxion an email asking what happens when they run out of shares to reverse split and the reply was that's its an open fund where shares can be created or redeemed at will. That still didn't answer the question of what happens when they run out of shares. If they create new shares, the price will drop below the $10 level where many fund managers aren't allowed to buy.",
"title": ""
}
] | fiqa |
a9a463bfa028c0df2c0108f846a4c212 | where to get stock price forecast | [
{
"docid": "dc01d1b7933246b62b23dbf1a0033086",
"text": "\"First, stock prices forecasts are usually pretty subjective so in the following resources you will find differing opinions. The important thing is to read both positive and negative views and do some of your additional research and form your own opinion. To answer your question, some analysts don't provide price targets, some just say \"\"Buy\"\", \"\"Sell\"\", \"\"Hold\"\", and others actually give you a price target. Yahoo provides a good resource for collecting reports and giving you a price target. http://screener.finance.yahoo.com/reports.html\"",
"title": ""
},
{
"docid": "946f3ce23e6c568eac2af2495c403eae",
"text": "There's only one real list that states what people think stock prices should be, and that's the stocks order book. That lists the prices at which stock owners are willing to buy stocks now, and the price that buyers are willing to pay. A secondary measure is the corresponding options price. Anything else is just an opinion and not backed by money.",
"title": ""
},
{
"docid": "5b5e3ad5eedadb699deaf191b14424aa",
"text": "\"I believe you are looking for price forecasts from analysts. Yahoo provides info in the analyst opinions section: here is an example for Apple the price targets are located in the \"\"Price Target Summary\"\" section.\"",
"title": ""
}
] | [
{
"docid": "4eeeb700522713da024781f45893656f",
"text": "Interactive Brokers provides historical intraday data including Bid, Ask, Last Trade and Volume for the majority of stocks. You can chart the data, download it to Excel or use it in your own application through their API. EDIT: Compared to other solutions (like FreeStockCharts.com for instance), Interactive Brokers provides not only historic intraday LAST**** trades **but also historic BID and ASK data, which is very useful information if you want to design your own trading system. I have enclosed a screenshot to the chart parameter window and a link to the API description.",
"title": ""
},
{
"docid": "684939ebba51de25344e1ff641d21134",
"text": "\"Try the general stock exchange web page. http://www.aex.nl I did a quick trial myself and was able to download historical data for the AEX index for the last few years. To get to the data, I went to the menu point \"\"Koersen\"\" on the main page and chose \"\"Indices\"\". I then entered into the sub page for the AEX index. There is a price chart window in which you have to choose the tab \"\"view data\"\". Now you can choose the date range you need and then download in a table format such as excel or csv. This should be easy to import into any software. This is the direct link to the sub page: http://www.aex.nl/nl/products/indices/NL0000000107-XAMS/quotes\"",
"title": ""
},
{
"docid": "01131b6c4535ef8d627a5e5604a24d61",
"text": "\"If you base your predictions on the past - the market will crash at some point in the future. Historically, October is one of the worse months for the markets. People tend to use this to create click-bait for people like you. They tend to get compensated on page views. Thus, more clicks - more profit for them. If anyone could predict a market crash - they would likely just be \"\"guessing\"\" correctly. However, that does not mean there aren't some people that are better at guessing these sorts of things. The people I would look at are leaders of the field, Warren Buffet, George Soros, etc. Just FYI, there are rumors Warren Buffet is sitting on pretty large cash position currently. However, they are just rumors. If you want to know how market crashes affect things - there are plenty of examples to look at. 1929, 2001, 2007 just to name a few. Do some research of your own, maybe even actually try to emulate what \"\"market analysts\"\" do. Then, you can write the click-bait articles, instead of clicking on them.\"",
"title": ""
},
{
"docid": "081512f0aaafbef6ec324b5e271c4821",
"text": "\"Check out Professor Damodaran's website: http://pages.stern.nyu.edu/~adamodar/ . Tons of good stuff there to get you started. If you want more depth, he's written what is widely considered the bible on the subject of valuation: \"\"Investment Valuation\"\". DCF is very well suited to stock analysis. One doesn't need to know, or forecast the future stock price to use it. In fact, it's the opposite. Business fundamentals are forecasted to estimate the sum total of future cash flows from the company, discounted back to the present. Divide that by shares outstanding, and you have the value of the stock. The key is to remember that DCF calculations are very sensitive to inputs. Be conservative in your estimates of future revenue growth, earnings margins, and capital investment. I usually develop three forecasts: pessimistic, neutral, optimistic. This delivers a range of value instead of a false-precision single number. This may seem odd: I find the DCF invaluable, but for the process, not so much the result. The input sensitivity requires careful work, and while a range of value is useful, the real benefit comes from being required to answer the questions to build the forecast. It provides a framework to analyze a business. You're just trying to properly fill in the boxes, estimate the unguessable. To do so, you pore through the financials. Skimming, reading with a purpose. In the end you come away with a fairly deep understanding of the business, how they make money, why they'll continue to make money, etc.\"",
"title": ""
},
{
"docid": "96ffe6a551593b9b69ec6a68d6a2175b",
"text": "You may refer to project http://jstock.sourceforge.net. It is open source and released under GPL. It is fetching data from Yahoo! Finance, include delayed current price and historical price.",
"title": ""
},
{
"docid": "f40ce647ec1934ec570d35784baa2775",
"text": "James Roth provides a partial solution good for stock picking but let's speed up process a bit, already calculated historical standard deviations: Ibbotson, very good collection of research papers here, examples below Books",
"title": ""
},
{
"docid": "fe41bd844ccdd880ae9b1f59abe82487",
"text": "\"Google Finance certainly has data for Tokyo Stock Exchange (called TYO on Google) listings. You could create a \"\"portfolio\"\" consisting of the stocks you care about and then visit it once per day (or write a script to do so).\"",
"title": ""
},
{
"docid": "7d9fd9278d1df7eff6f2b32d543ed49d",
"text": "I've had luck finding old stock information in the Google scanned newspaper archives. Unfortunately there does not appear to be a way to search exactly by date, but a little browsing /experimenting should get what you want. For instance, here's a source which shows the price to be 36 3/4 (as far as I can read anyway) on that date.",
"title": ""
},
{
"docid": "03e9557aeedc4a1650f7eba55a9cf3b6",
"text": "I work for a fund management company and we get our news through two different service providers Bloomberg and Thomson One. They don't actually source the news though they just feed news from other providers Professional solutions (costs ranging from $300-1500+ USD/month/user) Bloomberg is available as a windows install or via Bloomberg Anywhere which offers bimometric access via browser. Bloomberg is superb and their customer support is excellent but they aren't cheap. If you're looking for a free amateur solution for stock news I'd take a look at There are dozens of other tools people can use for day trading that usually provide news and real time prices at a cost but I don't have any direct experience with them",
"title": ""
},
{
"docid": "93c269eb0810f9a10c3ac6a7948633d1",
"text": "\"any major brokerage firm will have something like this. more speculative rumors will typically not make their way to the \"\"news\"\" there, though; the news feeds are from established wires, who don't report on those things until confirmed.\"",
"title": ""
},
{
"docid": "105d56c81f6e2fbc365e6571b8b8d301",
"text": "you could try [FRED](http://research.stlouisfed.org/fred2/graph/?g=HO7), or maybe try the CME and ICE's websites for some decent data.. haven't looked just suggestions - pretty sure the symbol for the Libor futures is EM, you could approximate from that so long as it's not a doctoral thesis",
"title": ""
},
{
"docid": "42a6227caae2ab12663e34c5bcc7f38b",
"text": "Check out WorldCap.org. They provide fundamental data for Hong Kong stocks in combination with an iPad app. Disclosure: I am affiliated with WorldCap.",
"title": ""
},
{
"docid": "d1d17cab7820e2dde13a9add87fa3ebb",
"text": "Analysts normally (oxymoron here) gauge their targets on where the stock is currently and more importantly where it has been. Except for in the case of say a Dryships where it was a hundred dollar stock and is now in the single digits, it is safe to assume that Apple for instance was well over $ 700 and is now at $500, and that a price guidance of $ 580 is not that remarkable and a not so difficult level to strike. Kind of like a meteorologist; fifty percent chance of rain. Analysts and weathermen.Hard to lose your job when your never really wrong. Mr Zip, Over and outta here",
"title": ""
},
{
"docid": "2649f29b989d8e7f895fca5b3d7d7194",
"text": "\"At the bottom of Yahoo! Finance's S & P 500 quote Quotes are real-time for NASDAQ, NYSE, and NYSE MKT. See also delay times for other exchanges. All information provided \"\"as is\"\" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein. Fundamental company data provided by Capital IQ. Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). International historical chart data, daily updates, fund summary, fund performance, dividend data and Morningstar Index data provided by Morningstar, Inc. Orderbook quotes are provided by BATS Exchange. US Financials data provided by Edgar Online and all other Financials provided by Capital IQ. International historical chart data, daily updates, fundAnalyst estimates data provided by Thomson Financial Network. All data povided by Thomson Financial Network is based solely upon research information provided by third party analysts. Yahoo! has not reviewed, and in no way endorses the validity of such data. Yahoo! and ThomsonFN shall not be liable for any actions taken in reliance thereon. Thus, yes there is a DB being accessed that there is likely an agreement between Yahoo! and the providers.\"",
"title": ""
},
{
"docid": "ae2ba800a965df882172d0d96a844e3f",
"text": "Since it's not a public company it would be difficult for anyone to value these options or predict their future value without a lot more details on the finances of the firm. Once the firm goes public you can use the Black Shoales equation to get a present value for the options. And once they've got several months of trading data you can get a very rough estimate the future stock price with it's beta. But with individual stocks predicting future values can really be a crapshoot.",
"title": ""
}
] | fiqa |
8555c9bc881c73492fa6a5a908435671 | Why is Insider Trading Illegal? | [
{
"docid": "b990865408156bb2715fe8bcd64b1ad3",
"text": "A practical issue is that insider trading transfers wealth from most investors to the few insiders. If this were permitted, non-insiders would rarely make any money, and they'd stop investing. That would then defeat the purpose of the capital markets which is to attract capital. A moral issue is that managers and operators of a company should act in shareholders' interests. Insider trading directly takes money from other shareholders and transfers it to the insider. It's a nasty conflict of interest (and would allow any CEO of a public company to make ton of money quickly, regardless of their job performance). In short, shareholders and management should succeed or suffer together, so their interests are as aligned as possible and managers have the proper incentives.",
"title": ""
},
{
"docid": "d4a81060f7b79e89e16bc2cba2ec76ca",
"text": "\"@sdg - If you can be flippant, I can be pedantic. Insider Trading is not illegal. Any employee of a company can be an insider, yet most of their trades are perfectly legal. What is illegal is trading on Inside Information. Such information may be available to those within a company, or those who have some contact with an employee. In fact, if I am seated at a restaurant table and hear Bill and Warren talking about a purchase they plan to make, I am in possession of inside information and risk prosecution should I purchase shares and profit. Often, a company will have a \"\"quiet period\"\" before earnings reports or potential stock-price-moving-news. During this time, employees are forbidden from buying or selling shares, excluding those that would be automatically bought in their retirement accounts or ESPP.\"",
"title": ""
},
{
"docid": "74aa3ca9abe89674b3ab4253d0438286",
"text": "\"I'm surprised at the tone of the answers to this question! Trading with insider information is corruption and encourages fraud. As in many areas, there's an ethical line where behavior the gap between \"\"ok\"\" and \"\"illegal\"\" or unethical is thin. The classic local government insider information example is when the local councilman finds out that a highway exit is being constructed in an area that consists mostly of farmland. Knowing this, he buys out the farmers at what they think is a premium, and turns around for 10x profit a few months later. In that context, do you think that the councilman acting on that insider information is committing a crime or ethical lapse? Most people say yes. Even in this case, the line is thin. If the same councilman has his finger on the pulse of growth patterns in the area, and realizes that the terrain makes a certain area a prime candiate for a highway and exit, buying up land would not be criminal -- but it would be risky as it creates a perception that he is abusing his position.\"",
"title": ""
},
{
"docid": "9e00415f5ff94621197e5f22dbca4dde",
"text": "To be flippant: it is illegal because it is against the law; there is no considered involved, it just is. To elaborate, part of the illusion of the stock exchange and other market-like entities is that of (apparent) fairness. If I think a stock will go up because it is involved in a growing industry, that is generally public information. Conversely if I have a dim view of a particular company because of its track record of product launches, that is similarly out in the open. A secret formula is something that I invented or discovered, not (presumably) something that I stole from someone else. To stretch that further: If I notice that Company X stock always moves with Company Y stock, that is indeed something that I have found, that I can try to profit from. It is secret to me, but not particularly dependent upon information not available to others, just that my interpretation is better. So trading on information in the public domain is fine, as it preserves the principal of fairness I mentioned, whereas inside knowledge breaks that principal.",
"title": ""
},
{
"docid": "9490f794ef758e3b30cb8fd4480f2d8c",
"text": "Capitalism works best when there is transparency. Your secret formula for wealth in the stocks should be based on a fair and free market, as sdg said, it is your clever interpretation of the facts, not the facts themselves. The keyword is fair. Secrets are useful for manufacturing or production, which is only a small part of capitalism. Even then we had to devise a system to protect ideas (patents, trademarks and copyrights) because as they succeed in the market, their secrecy goes away quickly.",
"title": ""
},
{
"docid": "168a5a48fa888710964248ddf7ac4d8c",
"text": "\"Illusions of transparency. Mitigation of risk. Emotion. The system. Short answer per sdg's post - it's the law. Long answer which I wont get into - it's a philosophical stance. It makes people feel better. It encourages a sense of \"\"the system really does work.\"\"\"",
"title": ""
},
{
"docid": "da058ebde0a2b5ea058c7391f620ca07",
"text": "\"Secret formulas are legal, \"\"privileged information\"\" is not. And that may be the whole point. People are allowed to trade stocks profitably if doing so results only from their skill. A \"\"secret formula\"\" (for evaluating information) is part of that skill. But having \"\"privileged information\"\" is not considered skill. It is considered an unfair, illegal advantage. Because company officials (and others) with privileged information are 1) not permitted to trade stocks while that information is privileged and 2) are not allowed to share that information with others. Inevitably, some do one or the other, which is why they are prosecuted. \"\"Raj\"\" took the process to new highs (or lows). He not only \"\"dealt\"\" in privileged information, he PAID for it. Anything from a new car or house to $500,000 a year in cash. In essence, he had a bunch of strategically placed \"\"spies\"\" inside or close to corporations including one on the board of Goldman Sachs, \"\"selling out\"\" their companies, and thereby practicing a form of corporate \"\"treason.\"\"\"",
"title": ""
},
{
"docid": "3f25c9c3300c8de1541c60e85a629b05",
"text": "\"It is illegal because laws are written by people, and laws of stock trade are written, in part, to make it appear \"\"fair\"\" and thus contribute to the willingness of the people to invest their money in that particular venue. Profiting from information on the stock market that some people have and some can't have is considered \"\"unfair\"\", since it presumably excludes the latter from profit-making opportunities and thus makes their trades less profitable than otherwise. Since it is universally felt so, people made laws that prohibit such behavior. I am not aware of any research that shows beyond doubt that allowing insider trading would really ruin stock markets, but such thing would be very hard to prove. There are arguments to both sides, and the side that supports prohibiting such trade has a clear majority, so it is prohibited.\"",
"title": ""
}
] | [
{
"docid": "45f923b590f9c623236b50c3523b36a7",
"text": "In fact, buybacks WERE often considered a vehicle for insider trading, especially prior to 1982. For instance, Prior to the Reagan era, executives avoided buybacks due to fears that they would be prosecuted for market manipulation. But under SEC Rule 10b-18, adopted in 1982, companies receive a “safe harbor” from market manipulation liability on stock buybacks if they adhere to four limitations: not engaging in buybacks at the beginning or end of the trading day, using a single broker for the trades, purchasing shares at the prevailing market price, and limiting the volume of buybacks to 25 percent of the average daily trading volume over the previous four weeks.",
"title": ""
},
{
"docid": "49116813bdaca2a97e43c13f41359d5c",
"text": "The CEO of a public company can, and often does, buy (and sell) the stock of his company. In fact, frequently the stock of the company is part of the compensation for the CEO. What makes this legal and fair is that the CEO files with the SEC an announcement before he buys (or sells) the stock. These announcements allow us 'in the dark' people enough warning ahead of time. See, for example, the trades of UTX stock by their public officers. As for trading on information about other companies, if I am not mistaken... that is why Martha Stewart wound up in prison. So, yeah, it does happen. I hope it is caught more often than not. On a related note, have you seen the movie 'Wall Street' with Charlie Sheen and Michael Douglas?",
"title": ""
},
{
"docid": "d701097909150781ae2cc681fe0c35b0",
"text": "\"First off, IANAL. Secondly, most laws are different for humans and corporations. But, insider trading is \"\"trading on knowledge that isn't publicly available.\"\" If the trade was made after the order was made public knowledge, that would probably provide the fig leaf of legality.\"",
"title": ""
},
{
"docid": "7f6ffa8fa450d6a40352fd24c91426d0",
"text": "Very important. Returning again to the example of the farmer, efficient, liquid markets that fairly reflect the price of a given asset allow that farmer to run his business as cost effectively as he can. That (in theory) lowers the price of his goods for the consumer. If he wasn't able to efficiently hedge, he would have to charge a premium to reflect the price risk he takes on between planting and harvesting his corn. Being pedantic here but single stock futures markets are extremely quiet. If you were the owner of a company and you traded *options* on your company stock (a hilariously common form of insider trading) yes, that would be illegal and the SEC would certainly come after you.",
"title": ""
},
{
"docid": "ed91c82108e595b5e1ae973bbd8cf34f",
"text": "I used to work at a record keeping company, and while we worked with plan administrators through transitions in investment offerings, we never actually worked through a forced sale. From what I recall I thought that was illegal, and that all the administrator can do is stop offering the investment (i.e. no new buy ins), but people who still have their money in it can either continue to hold or sell.",
"title": ""
},
{
"docid": "d2f46271309d4bffce070c378740742b",
"text": "In principle I agree with you. However the allegation is that the people managing the IPO withheld crucial information and informed insiders against investing. Maybe the allegations are false, but it should still be looked into. If the IPO shared crucial details with insider traders while keeping it from the public at large that would affect the investor's risk-assessment of a stock, that's insider trading and should be punished accordingly.",
"title": ""
},
{
"docid": "4cf93f14c4c9dbe35734cc4af063d42a",
"text": "As others have said, it simply makes you a part owner. Even if you have ethical objections to a company's behavior, I'd argue that investing in it and using the proxy votes to influence the company's decisions might be even more ethical than not investing.",
"title": ""
},
{
"docid": "509193a4342651b45574262bf7a52288",
"text": "Material Information means that any information that can reasonable affect the share price of the company [upward or downward] as looked by the investors. The idea is to provide a level playing field to all investors. Hence it forces people having material information not to trade when they have this information that is not yet disclosed. Yes it happens all the time and laws are quite stringent. There is monitoring of share activity by regulators ... hence most of the times the companies come out with their own guidelines and top & senior management is prohibited from trading in their own company’s shares for pretty much round the year except few windows the company decides is safe. Now it may not be possible to monitor every small material info, but any large spike of stocks after certain announcements is investigated by regulators to verify any undue gains. For ex a person who never trades suddenly buys large qty of shares and it goes up and he sells again ... etc",
"title": ""
},
{
"docid": "c8fccac05be23e3db23d15c77f2d580f",
"text": "\"Overoptimism, making mistakes and wrong assumptions, being taken by lies, all of that is legal and, in a lot of ways, very human and forgivable. But when they \"\"buried her findings ... before, during and after the financial crisis, and even into 2012\"\" from senior management whose job it is to look out for bad investments, \"\"buying mortgages from outside lenders with doctored tax forms, phony appraisals and missing signatures\"\", \"\"systematically violating U.S. mortgage regulations\"\", and lying about losses while still taking money from the government, these are illegal and immoral practices with profit as a motive and with the knowledge that what they were doing was wrong. Buying into something with all you've got is any business's prerogative. Lying, manipulating, and willfully breaking the law, especially when the product and means to purchase directly impacts the customer, all to maximize profit is not.\"",
"title": ""
},
{
"docid": "284f2fbee5b6cc709b75948be82d8d58",
"text": "An oxymoron is something that contradicts itself. Inside trading is sharing information that isn't public. How the fuck do you think these hedge funds and investment banks can offer almost 50% returns during these times in our economy??? Oh yea it's called inside trading. Reason why it's an oxymoron is because trading information is considered ilegal yet that what everyone does on the market, rules are made to give off fear but past that it's all open roads and deep pockets. And if you really don't believe that stock market isn't rigged then there is no reason for me to explain myself on that because it would be like taking to a wall. And I thank you for being one of those people that thinks it's not rigged because you help my portfolio look good from your dumb investments.",
"title": ""
},
{
"docid": "69002b96549ac2c8670728fea7b5f9d1",
"text": "They are not required to fulfill the trade that they have intended to execute. They are able to cancel or modify the trade at any point. Example: This is how insiders are able to manipulate the price of shares through there buying and selling intentions. A CEO would be able to disclose a buy order for a month from now, or whatever time period is required. This would most likely increase the price of the stock as investors would see this as a good sign of company performance. Up until the point when the buy order is scheduled to execute the CEO can then cancel the order and create a new sell order. Since the stock is high in price, his new order is likely to make him money based on the manipulation from his trading intentions. I am not an expert on the subject and only know as much as I do through personal research. Here is an interesting article about this kind of insider trading and manipulation:http://dealbook.nytimes.com/2012/12/10/the-fine-line-between-legal-and-illegal-insider-trading/?_r=0",
"title": ""
},
{
"docid": "43e559617382b38b2b11b0f4082a6a56",
"text": "\"It becomes illegal when it is both material and nonpublic information. Material being defined as: Information that you would want and significantly alters the perception of the stock. To your point -- \"\"materiality\"\" is really up to the courts Nonpublic This is a little easier to define, but need to be careful if the information is disclosed selectively -- ie to just a small number of investment analysts -- this may still be nonpublic There is also an exception to this -- Mosaic Theory - This is the research you are referring to where the analyst calls up suppliers, etc and obtains information that is nonmaterial (wouldn't move the price of the security) but using experience and combined with public information creates something that is meaningful and could move the price of the security. This is perfectly legal. Material examples:\"",
"title": ""
},
{
"docid": "f73c466ce053f41b7197563386edddd5",
"text": "\"Another way to look at this is that pure insider trading is an activity with the aim to use secret information to make personal profit or let others make personal profit at the expense of the company shareholders or investors. In buybacks, it is not company managers to get personal gain in this would-be \"\"insider trading\"\". The end-winners in this case are the shareholders. So there is nothing inherently bad in buying back stock. Moreover, it is a general practice to buy shares back (as opposed to paying dividends) when the company sees its shares being undervalued (of course, provided that it has the cash/borrowing ability to implement this), since it creates shareholders value, thereby maximising shareholder wealth, which is one of the primary tasks of the company managers.\"",
"title": ""
},
{
"docid": "025adc914ef3b24720ad4fd4af995e8d",
"text": "\"I did once read a book titled \"\"How I made a million dollars on the stock market\"\". It sounded realistic enough to be a true story. The author made it clear on the first page that (a) this was due to some exceptional circumstances, (b) that he would never again be able to pull off something like this, and (c) you would never be able to pull of something like this, except with extreme luck. (The situation was small company A with a majority shareholder, other small company B tries to gain control by buying all the shares, the majority shareholder of A trying to prevent this by buying as many shares as possible, share price shooting up ridiculously, \"\"smart\"\" traders selling uncovered shorts to benefit when the price inevitably drops, the book author buying $5,000 worth of shares because they were going up, and then one enormous short squeeze catching out the traders. And he claimed having sold his shares for over a million - before the price dropped back to normal). Clearly not a matter of \"\"playing your cards right\"\", but of having an enormous amount of luck.\"",
"title": ""
},
{
"docid": "eb1860fb6afb16093dbe499d9c96ac6d",
"text": "pump and dump is a common Illegal practice of boiler room operations. It refers to the talking a stock up, both through word of mouth as well as selling shares to unwitting buyers. I fail to see much difference between that practice and this.",
"title": ""
}
] | fiqa |
a9baf30956fcb0c0fa8e4a1f177ce4c6 | Why do requirements after a margin call vary? | [
{
"docid": "cafd9e916a44b8f96866ae206a651847",
"text": "Initial Margins and Maintenance margins can be used for both stocks as well as futures. It depends on which broker you use and what services they offer. The initial Margin is used to cover the purchase, the maintenance margin is used to ask additional funds in case the value of the underlying equity changes drastically before settlement. You can start with the investopedia article on initial margin and Maintenance margin",
"title": ""
},
{
"docid": "a456fcada4bdb2cdf4cec08775fee999",
"text": "I believe the reasons:",
"title": ""
}
] | [
{
"docid": "0da4277cb0f8295a68c9818ea0bd01a8",
"text": "That is the maintenance margin required for that position. Whenever you trade using your margin account, you must (by law, and also separately often by stricter policies from the brokerage) have a certain percentage of equity - at least 25%, often higher. That protects the brokerage from significant losses if your position drops in value significantly (hopefully preventing the brokerage from failing outright in the event of a major collapse). If the amount of equity falls below the maintenance requirement, you will have a margin call and be required to put some cash (or equity) into the account to maintain that level. See Maintenance Margin definition on Investopedia for more information.",
"title": ""
},
{
"docid": "6ad39f83aacc8997b0def6e760c28763",
"text": "You have to call Interactive Brokers for this. This is what you should do, they might even have a web chat. These are very broker specific idiosyncrasies, because although margin rules are standardized to an extent, when they start charging you for interest and giving you margin until settlement may not be standardized. I mean, I can call them and tell you what they said for the 100 rep.",
"title": ""
},
{
"docid": "fbac1c13951f063ca7baffe823cd5a99",
"text": "Depends on the stock involved, but for the most part brokerages allow you gain entry at 50%, meaning you can short twice the cash on hand you have. Going forward, you need to maintain 30%, so on a $10,000 short, you'd have to maintain $3000 in your account. Example, an account with $5000 cash - You can short $10,000 securities. Let say 100 shares of xyz at $100 per share. After trade settles, you won't receive a margin call until your balance falls to $3000, probably right around the time xyz rises to $120 per share. Riskier stocks will have higher margin maintenance requirements - leveraged vehicles like FAS/FAZ (triple leveraged) require 90% margin (3x30%) if they are allowed to be 'shorted' at all.",
"title": ""
},
{
"docid": "182681f9ca106a53303d6a110a399dfe",
"text": "As the referenced document says, there are 3 formulas, and you need to use the formula which results the greatest margin requirement. In your case, you need to use the 10% formula:",
"title": ""
},
{
"docid": "4edef748c56d2e79148d229cce28d705",
"text": "\"The issues of trading with unsettled funds are usually restricted to cash accounts. With margin, I've never personally heard of a rule that will catch you in this scenario. You won't be able to withdraw funds that are tied up in unsettled positions until the positions settle. You should be able to trade those funds. I've never heard of a broker charging margin interest on unsettled funds, but that doesn't mean there isn't a broker somewhere that does. Brokers are allowed to impose their own restrictions, however, since margin is basically offering you a line of credit. You should check to see if your broker has more restrictive rules. I'd guess that you may have heard about restrictions that apply to cash accounts and think they may also apply to margin accounts. If that's the case and you want to learn more about the rules generally, try searching for these terms: You should be able to find a lot of clear resources on those terms. Here's one that's current and provides examples: https://www.fidelity.com/learning-center/trading-investing/trading/avoiding-cash-trading-violations On a margin account you avoid these issue because the margin (essentially a loan from your broker) provides a cushion / additional funds that avoid the issues. It is possible that if you over-extend yourself that you'll get a \"\"margin call,\"\" but that seems to be different than what you're asking and maybe worth a new question if you want to know about that.\"",
"title": ""
},
{
"docid": "b9a82ca866a082205ecebfd675b8480e",
"text": "I cannot believe noone mentioned this so far: Every decision you make is independent from previous decisions (that is, if you only care about your expected gain). This means that your decision whether to buy the option should be the same whether you bought the same option before or not.",
"title": ""
},
{
"docid": "1536c848cdd591d961acfde183d022a6",
"text": "\"Number 2 cannot occur. You can buy the call back and sell the stock, but the broker won't force that #2 choice. To trade options, you must have a margin account. No matter how high the stock goes, once \"\"in the money\"\" the option isn't going to rise faster, so your margin % is not an issue. And your example is a bit troublesome to me. Why would a $120 strike call spike to $22 with only a month left? You've made the full $20 on the stock rise and given up any gain after that. That's all. The call owner may exercise at any time. Edit: @jaydles is right, there are circumstances where an option price can increase faster than the stock price. Options pricing generally follows the Black-Scholes model. Since the OP gave us the current stock price, option strike price, and time to expiration, and we know the risk free rate is <1%, you can use the calculator to change volatility. The number two scenario won't occur, however, because a covered call has no risk to the broker, they won't force you to buy the option back, and the option buyer has no motive to exercise it as the entire option value is time premium.\"",
"title": ""
},
{
"docid": "75375de293abe96061cee543b642dae5",
"text": "Oh really. I will have to check into that. It would be a bummer if that is the case. Something I will need to look into. If you don't need margin and are not trading the underlying asset (which I could see being a problem), then I don't see what the problem is. But I shall see. Thanks.",
"title": ""
},
{
"docid": "63d965f32d4308863997d8eb23a05539",
"text": "If one wants to have a bound on the loss percentages that are acceptable, this is would be a way to enforce that. For example, suppose someone wants to have a 5% stop-loss but doesn't want this to be worse than 10% as if the stock goes down more than 10% then the sell shouldn't happen. Thus, if the stock opened in a gap down 15% one day, this triggers the stop-loss and would exit at too low of a price as the gap was quite high as I wonder how familiar are you with how much a stock's price could change that makes the prices not be as continuous as one would think. At least this would be my thinking on a volatile stock where one may want to try to limit losses if the stock does fall within a specific range.",
"title": ""
},
{
"docid": "ed5e9ea4c94d16c474d6154a73443ab5",
"text": "Ok, so disregarding passivity, could you help me through a simplified example? Say I only had two assets, SPY and TLT, with a respective weight of 35 and 65% and I want want to leverage this to 4x. Additionally, say daily return covar is: * B/B .004% * B/S -.004% * S/S .02% Now, if I read correctly, I should buy ATM calls xxx days in the future. Which may look like: Ticker, S, K, Option Price, Delta, Lambda * TLT $126.04 $126.00 $4.35 0.50 14.5 * SPY $134.91 $134.00 $6.26 0.55 11.8 ^ This example is pretty close but some assets are far off. I feel like I'm on the wrong track so I'll stop here. I just want to lever up my risk-parity. Margin rates are too high and I'm docked by Reg-T.",
"title": ""
},
{
"docid": "c372d42ad4cbdb97645e1f11384d9124",
"text": "\"Some investors worry about interest rate risk because they Additional reason is margin trading which is borrowing money to invest in capital markets. Since margin trading includes minimum margin requirements and maintenance margin to protect lender \"\"such as a broker\"\" , a decrease in the value of bonds might trigger a threat of a margin call There are other reasons why investors care about interest rate risk such as spread trade investors who benefit from difference in short term/ long term interest rates. Such investors borrow short term loans -which enables them to pay low interest- and lend long term loans - which enables them to gain high interest-. Any disturbance between the interest rate spread between short term and long term bonds might affect investor's profit and might even lead to losses. In summary , it all depends on you investment objective and financial condition. You should consult with your financial adviser to help plan for your financial goals.\"",
"title": ""
},
{
"docid": "0fd5110b577f8fb73db726ebc20f4885",
"text": "In the equity world, if a stock trades at 110 and is going to pay a dividend of 10 in a few days, an option expiring after the ex date would take the dividend into account and would trade as if the stock were trading at 100. (Negative) interest rates may also lead to a similar effect. In the commodity world the cost of carry needs to be taken into account.",
"title": ""
},
{
"docid": "0b8224f628049c7e547871b86322f0b5",
"text": "One reason might be the 100% margin requirement on long options. Suppose I want to go long AAPL. I could get a deep ITM call or buy shares. $12,700 for 100 shares, with it's 25% margin requirement is like around $3200 locked up cash. Combine with a deep OTM Jan 2017 $70 strike put for $188, would give a $3400 margin requirement to enter the trade. or I could be in the JAN 2017 $70 strike for nearer $5800, but with a 100% margin requirement due to being a long call. So (3400/5800) = 59% increase in margin requirement for Deep ITM calls. Plus long term the shares will pay dividends, while a LEAP CALL does not.",
"title": ""
},
{
"docid": "6f3a91779f27147daeff9a576ad2a58c",
"text": "On July 20, when you posted this question, AAPL was trading almost at 115. The market charges an extra premium for buying an option that is in the money (or on the money like this case) over one that is out of the money. In order for the 130 Call to be worth something the market has to go up 15 points. Otherwise you lose 100% of your premium. On the other hand with the 115 every point that the market goes up means that you recover some of that premium. It is much more likely that you recover part of your premium with the 115 than with the 130. With the higher probability of losing part of the premium, the sellers are going to be reluctant to write the option unless they receive larger compensation.",
"title": ""
},
{
"docid": "f33d771d164cd757aa2d4e56bfe0b21b",
"text": "This is dependent on the broker according to The Options Industry Council. Your broker will specify what they would do upon expiry (or hours before last trade) if you did not indicate your preference. Most likely they will conduct a probabilistic simulation to see whether exercising the contracts may result in margin deficit even after selling the delivered shares under extreme circumstances. In most cases, brokers tend to liquidate the option for you (sell to close) before expiry. I've seen people complain about certain brokers forcing liquidation at terrible bid-ask spreads even though the options are still days to expiry. It is better for you to close the position on your own beforehand. The best brokers would allow margin deficit and let you deposit the required amount of money afterward. Please consult your broker's materials. If you can't find them, use live chat or email tickets.",
"title": ""
}
] | fiqa |
6a2e02cf74d3d78e9cfbb71693429ed1 | Who receives the money when one company buys another? | [
{
"docid": "f477ccd5017896c67a38c88a6be0eda9",
"text": "Shareholders of Monsanto will get the money from Bayer. Shareholders are independent people or entities. Think of Monsanto as a thing that shareholders had. This thing is now being purchased by Bayer",
"title": ""
},
{
"docid": "594b7681cd6df02e5045aa17279f3fa1",
"text": "Monsanto is a publicly traded company that trades under the ticker MON. The stock is owned by a wide range of owner around the world. The buyout offer from Bayer is an all cash offer. Bayer will buy all shares of MON at about $128/share. So if I owned 100 shares of MON, I would receive $12,800 or so for my shares. The deal has not yet been approved by regulators, which is why the stock price is hovering around $104/share today.",
"title": ""
},
{
"docid": "1c57837ff917b9b4fa6127c1f7fce00e",
"text": "It's tempting to think of a corporation as a real thing, because in many respects it seems to be. But it isn't a corporeal thing (despite the root word of the name). It may own corporeal things, and employ corporeal people, but it is not itself a real thing. Borrowing heavily from Prof Joseph Heath: It might be better to think of a corporation as the nexus of four separate entities: investors who provide capital, employees who do the work, suppliers who provide raw material, etc., and customers who purchase the products or services the corporation buys. In different organizations the 'owners' are different: in co-ops it's the suppliers, mutual insurance companies the customers, in employee-owned companies the employees, but in 90% of cases (including Monsanto) it's the investors. The investors who provided capital by buying shares of stock are the owners, and will be compensated. This frequently happens indirectly: You may own Monsanto stock through a mutual fund or other such aggregate which means that your mutual fund will get the money. Whether that winds up being a profit or loss is more complicated.",
"title": ""
}
] | [
{
"docid": "4d6b8b176414df94cb82c6b650b20647",
"text": "To me this sounds like a transaction, where E already owns a company worth 400k and can therefore pocket the money from D and give D 25% of the profits every year. There is nothing objective (like a piece of paper) that states the company is worth 400K. It is all about perceived value. Some investors may think it is worth something because of some knowledge they may have. Heck, the company could be worth nothing but the investor could have some sentimental value associated to it. So is it actually the case that E's company is worth 400k only AFTER the transaction? It is worth what someone pays for it when they pay for it. I repeat- the 400K valuation is subjective. In return the investor is getting 25% ownership of the product or company. The idea is that when someone has ownership, they have a vested interest in it being successful. In that case, the investor will do whatever he/she can to improve the chances of success (in addition to supplying the 100K capital). For instance, the investor will leverage their network or perhaps put more money into it in the future. Is the 100k added to the balance sheet as cash? Perhaps. It is an asset that may later be used to fund inventory (for instance). ... and would the other 300k be listed as an IP asset? No. See what I said about the valuation just being perception. Note that the above analysis doesn't apply to all Dragons Den deals. It only applies to situations where capital is exchanged for ownership in the form of equity.",
"title": ""
},
{
"docid": "4f86a8a4bb3fa8d170e7d2cb5f67b104",
"text": "Thanks for your thorough reply. Basically, I found a case study in one of my old finance workbooks from school and am trying to complete it. So it's not entirely complicated in the sense of a full LBO or merger model. That being said, the information that they provide is Year 1 EBITDA for TargetCo and BuyerCo and a Pro-Forma EBITDA for the consolidated company @ Year 1 and Year 4 (expected IPO). I was able to get the Pre-Money and Post-Money values and the Liquidation values (year 4 IPO), as well as the number of shares. I can use EBITDA to get EPS (ebitda/share in this case) for both consolidated and stand-alone @ Year 1, but can only get EPS for consolidated for all other years. Given the information provided. One of the questions I have is do I do anything with my liquidation values for an accretion/dilution analysis or is it all EPS?",
"title": ""
},
{
"docid": "9abd5ec370b082cf841e039c527ee01a",
"text": "\"Is it equity, or debt? Understanding the exact nature of one's investment (equity vs. debt) is critical. When one invests money in a company (presumably incorporated or limited) by buying some or all of it — as opposed to lending money to the company — then one ends up owning equity (shares or stock) in the company. In such a situation, one is a shareholder — not a creditor. As a shareholder, one is not generally owed a money debt just by having acquired an ownership stake in the company. Shareholders with company equity generally don't get to treat money received from the company as repayment of a loan — unless they also made a loan to the company and the payment is designated by the company as a loan repayment. Rather, shareholders can receive cash from a company through one of the following sources: \"\"Loan repayment\"\" isn't one of those options; it's only an option if one made a loan in the first place. Anyway, each of those ways of receiving money based on one's shares in a company has distinct tax implications, not just for the shareholder but for the company as well. You should consult with a tax professional about the most effective way for you to repatriate money from your investment. Considering the company is established overseas, you may want to find somebody with the appropriate expertise.\"",
"title": ""
},
{
"docid": "9ff4b83c8e5627b710d84964fc9b0a85",
"text": "\"This answer will expand a bit on the theory. :) A company, as an entity, represents a pile of value. Some of that is business value (the revenue stream from their products) and some of that is assets (real estate, manufacturing equipment, a patent portfolio, etc). One of those assets is cash. If you own a share in the company, you own a share of all those assets, including the cash. In a theoretical sense, it doesn't really matter whether the company holds the cash instead of you. If the company adds an extra $1 billion to its assets, then people who buy and sell the company will think \"\"hey, there's an extra $1 billion of cash in that company; I should be willing to pay $1 billion / shares outstanding more per share to own it than I would otherwise.\"\" Granted, you may ultimately want to turn your ownership into cash, but you can do that by selling your shares to someone else. From a practical standpoint, though, the company doesn't benefit from holding that cash for a long time. Cash doesn't do much except sit in bank accounts and earn pathetically small amounts of interest, and if you wanted pathetic amounts of interests from your cash you wouldn't be owning shares in a company, you'd have it in a bank account yourself. Really, the company should do something with their cash. Usually that means investing it in their own business, to grow and expand that business, or to enhance profitability. Sometimes they may also purchase other companies, if they think they can turn a profit from the purchase. Sometimes there aren't a lot of good options for what to do with that money. In that case, the company should say, \"\"I can't effectively use this money in a way which will grow my business. You should go and invest it yourself, in whatever sort of business you think makes sense.\"\" That's when they pay a dividend. You'll see that a lot of the really big global companies are the ones paying dividends - places like Coca-Cola or Exxon-Mobil or what-have-you. They just can't put all their cash to good use, even after their growth plans. Many people who get dividends will invest them in the stock market again - possibly purchasing shares of the same company from someone else, or possibly purchasing shares of another company. It doesn't usually make a lot of sense for the company to invest in the stock market themselves, though. Investment expertise isn't really something most companies are known for, and because a company has multiple owners they may have differing investment needs and risk tolerance. For instance, if I had a bunch of money from the stock market I'd put it in some sort of growth stock because I'm twenty-something with a lot of savings and years to go before retirement. If I were close to retirement, though, I would want it in a more stable stock, or even in bonds. If I were retired I might even spend it directly. So the company should let all its owners choose, unless they have a good business reason not to. Sometimes companies will do share buy-backs instead of dividends, which pays money to people selling the company stock. The remaining owners benefit by reducing the number of shares outstanding, so they own more of what's left. They should only do this if they think the stock is at a fair price, or below a fair price, for the company: otherwise the remaining owners are essentially giving away cash. (This actually happens distressingly often.) On the other hand, if the company's stock is depressed but it subsequently does better than the rest of the market, then it is a very good investment. The one nice thing about share buy-backs in general is that they don't have any immediate tax implications for the company's owners: they simply own a stock which is now more valuable, and can sell it (and pay taxes on that sale) whenever they choose.\"",
"title": ""
},
{
"docid": "30c72cf08aece2888aa325bdcd8d2538",
"text": "\"For the first and last questions, I can do this multiple ways. For the middle question, I'll just make up values. If you want different ones, you will have to redo the math. I am going to assume that you participate in the merger exchange, swapping your share for their offer. If you own one share, it depends how they handle fractional shares. Your original one share of ABC can be worth either one share of XYZ or 1.05 shares of XYZ. If you get one share, you typically get an additional $.80 cash to make up for the fractional share. You might ask why you don't just get $20 cash and one share of XYZ. Consider the case where you own twenty shares of ABC. Then you'd own twenty-one shares of XYZ and $384. No need for fractional shares. Beyond all this though, the share value of XYZ is not set autocratically. The shares might be worth $16, $40, or $2 after the merger. If both stocks are perfectly valued and the market is aware of that value, then it will depend partially on the number of shares of each. For example, if we assume there are 10,000 shares of ABC and 50,000 shares of XYZ (including the shares paid for ABC), then their initial market values are $320,000 for ABC and $800,000 for XYZ. XYZ is paying $360,000, so its value drops to $440,000. But it is gaining ABC, which is worth $320,000. Net value now is $760,000 or $15.20 per share. This has assumed that the shares transferred from XYZ to the shareholders of ABC were already included in the market value. This may mean that the stock price was previously $20 or so with almost 40,000 shares in circulation. Then they issued new shares, diluting the value down to $16. We could start at 50,000 shares at $16 and end up with 60,000 to 60,050 shares at $13.332 to $13.333 per share. Then XYZ is really only paying $326,658.31 for ABC. That's a premium of only $6,658.31 for ABC and gives a final stock value of $13.222 per share. The problem though is that in reality, there is no equivalent of perfect value. So I say again that the market value might be $15.20 (the theoretic answer that best fits the question given the example quantities of shares), $13, $20, or something else. It will depend on how the market perceives the deal. Is the combined company worth more or less than the sum of its parts? And beyond this, you will have $19.20 to $20 in cash in addition to your XYZ share (or 1.05 shares). Assuming 1.05 shares, that would be $15.96 plus the $19.20--that's $35.16 total in theory or anything from $19.20 up in practice. With the givens, the only thing of which you can be sure is the $19.20 cash. The value of the stock is up in the air. If XYZ is only privately traded, this is still true. The stock is worth the price that someone will pay for it. The \"\"someone\"\" is just more limited with privately traded stocks.\"",
"title": ""
},
{
"docid": "d666c38057c10de0df25b0b819739a26",
"text": "It doesn't matter which exchange a share was purchased through (or if it was even purchased on an exchange at all--physical share certificates can be bought and sold outside of any exchange). A share is a share, and any share available for purchase in New York is available to be purchased in London. Buying all of a company's stock is not something that can generally be done through the stock market. The practical way to accomplish buying a company out is to purchase a controlling interest, or enough shares to have enough votes to bind the board to a specific course of action. Then vote to sell all outstanding shares to another company at a particular fixed price per share. Market capitalization is an inaccurate measure of the size of a company in the first place, but if you want to quantify it, you can take the number of outstanding shares (anywhere and everywhere) and multiply them by the price on any of the exchanges that sell it. That will give you the market capitalization in the currency that is used by whatever exchange you chose.",
"title": ""
},
{
"docid": "292eac97244e913ab4153315d2e1571a",
"text": "Stock acquired through a (non-taxable) stock dividend has the same holding period as the stock on which the dividend was paid.",
"title": ""
},
{
"docid": "6cc527b2e33635fc6ecdfc34695297db",
"text": "Of course it is a dilution of existing shareholders. When you buy milk in the supermarket - don't you feel your wallet diluted a little? You give some $$$ you get milk in return. You give some shares, you get Watsapp in return. That's why such purchases must go through certain process of approval - board of directors (shareholders' representatives) must approve it, and in some cases (don't know if in this particular) - the whole body of the shareholders vote on the deal.",
"title": ""
},
{
"docid": "fead8f98ed7a8b1a30d538c22cbaed24",
"text": "If the check is written as a check to BigCo, it is less clear how Jack can compensate himself for the equity sale. It is as if the equity was owned by the corporation, not by Jack. This is correct. If the check is written to BigCo, then it is BigCo issuing new shares. Jack doesn't compensate himself for the equity sale, as he didn't sell anything. The company traded shares for money which it uses for expansion. In the long term, the capital gain from expansion may exceed the value of a $200,000 no-interest loan to the company. If the value of the company before investing $250,000 is $1 million, then the value after investing is $1.25 million. So $250,000 is 20% of the value of the company. BigCo should not give the buyer 25% of BigCo but only 20% in that example. If it does give 25%, the buyer is getting a $312,500 stake for only $250,000. With the other example, Jack sells 25% of the company for $250,000 from his personal shares. This doesn't change the assessed value of the company, just Jack's stake. Jack then loans the company $200,000. This also doesn't change the assessed value of the company (at least in theory). It gains $200,000 but has an offsetting debt of $200,000. In net, that's no change. Assets and liabilities balance the same. So if you know that the assessed value of the company is $1 million and that the buyer is paying $250,000 for a 25% stake at that same valuation, then you know that the check is being written to Jack. If the check is written to BigCo, then one or more of those numbers is incorrect. The buyer could be getting a 20% stake. The new value of the company after the investment is $1.25 million. Or paying $333,333.33. The new value of the company after the investment is $1,333,333.33. Or BigCo could only be worth $750,000 before the investment. The new value of the company after the investment is $1 million. Or Jack is getting screwed, selling $312,500 in stock (25%) for only $250,000. Jack's shares drop from being worth $1 million to only $937,500. The value of the company is $1.25 million. Or some combination of smaller changes that balances.",
"title": ""
},
{
"docid": "df674298eca5e6a1981d5655c6ff77a5",
"text": "Shareholders provide their capital to the company via buying issued stock from said company. In a way they are owning the company through that transaction by a percentage. Ownership is now in question depending on how big the company is. Apple? You have a snowballs chance in Hell trying to assert your 'ownership' of your one share of their stock. So in theory yes they technically own part of the company but the decision making is up the board. Though the shareholders can voice their opinion and give up their vote via proxy voting. I'm a little rusty please correct me if you must.",
"title": ""
},
{
"docid": "6585aa957213b3955929e37adc6b5818",
"text": "The money goes to the seller. There are a lot of behind the scenes things that happen, and some transactions are very complicated with many parties involved (evidenced by all the comments on @keshlam's perfectly reasonable high-level answer), but ultimately the money goes to the seller. Sometimes the seller is the company. The billions of shares that change hands each day are moving between other individuals like you and investment funds; these transactions have no direct impact on the company's financials, in general.",
"title": ""
},
{
"docid": "ea89e9b5a42256712f70570f56c36ebd",
"text": "Generally speaking: when a company buys another company it's a complex agreement that spells out many things, including how the acquiring company is paying for the target company. These are the most common form of payment: 1. Cash. Shareholders of the target company get cash. 2. Shares. Shareholders of the target company get shares of the acquiring company. 3. A combination of 1 and 2 above.",
"title": ""
},
{
"docid": "a46f440796f1e5216c6fba3ba3c6150d",
"text": "Yes but this also goes against the idea that somehow, after injecting more of their money into the firm by exercising their rights, shareholder wealth still remains the same? So if shareholders also injected cash, how come their total wealth didn't change?",
"title": ""
},
{
"docid": "a46c33002c40f62862d7f5150d43ce12",
"text": "Suppose I purchase $10,000 worth of a particular share today. If the person(s) I am purchasing the shares from paid $9,000 for those shares, then I replacing their $9,000 investment with my $10,000 investment. This is a net inflow of $1,000 into the market. Similarly, if the person(s) I am purchasing the shares from paid $11,000 for those shares, then their $11,000 investment is being replace by my $10,000 investment. This is a net outflow of $1,000 out of the market. The aggregate of all such inflows and outflows in the net inflow/outflow into the market over a given period of time. (Here we are ignoring the effects of new share issues.)",
"title": ""
},
{
"docid": "40ae70712ee0d2fee4c95c13d1d2069d",
"text": "If the loan is for a car, or mortgage there is specific paperwork that is processed when the loan payments have been completed. For other types of loans ask the lender, what will they give you regarding the payoff of the loan. Keep this paperwork, in hard copy and electronic form forever.",
"title": ""
}
] | fiqa |
598def60c91778316281b7ea1e610b15 | How To Interpret Share Prices? | [
{
"docid": "b25f5bafb3d66343aac4841d554e5e52",
"text": "The missing information is at the end of the first line: the price is from NASDAQ (most specifically Nasdaq Global Select), which is a stock exchange in the USA, so the price is in US Dollars.",
"title": ""
}
] | [
{
"docid": "7aa54db9a4904567ac7fe6bc6c909344",
"text": "\"You could not have two stocks both at $40, both with P/E 2, but one an EPS of $5 and the other $10. EPS = Earnings Per Share P/E = Price per share/Earnings Per Share So, in your example, the stock with EPS of $5 has a P/E of 8, and the stock with an EPS of $10 has a P/E of 4. So no, it's not valid way of looking at things, because your understanding of EPS and P/E is incorrect. Update: Ok, with that fixed, I think I understand your question better. This isn't a valid way of looking at P/E. You nailed one problem yourself at the end of the post: The tricky part is that you have to assume certain values remain constant, I suppose But besides that, it still doesn't work. It seems to make sense in the context of investor psychology: if a stock is \"\"supposed to\"\" trade at a low P/E, like a utility, that it would stay at that low P/E, and thus a $1 worth of EPS increase would result in lower $$ price increase than a stock that was \"\"supposed to\"\" have a high P/E. And that would be true. But let's game it out: Scenario Say you have two stocks, ABC and XYZ. Both have $5 EPS. ABC is a utility, so it has a low P/E of 5, and thus trades at $25/share. XYZ is a high flying tech company, so it has a P/E of 10, thus trading at $50/share. If both companies increase their EPS by $1, to $6, and the P/Es remain the same, that means company ABC rises to $30, and company XYZ rises to $60. Hey! One went up $5, and the other $10, twice as much! That means XYZ was the better investment, right? Nope. You see, shares are not tokens, and you don't get an identical, arbitrary number of them. You make an investment, and that's in dollars. So, say you'd invested $1,000 in each. $1,000 in ABC buys you 40 shares. $1,000 in XYZ buys you 20 shares. Their EPS adds that buck, the shares rise to maintain P/E, and you have: ABC: $6 EPS at P/E 5 = $30/share. Position value = 40 shares x $30/share = $1,200 XYZ: $6 EPS at P/E 10 = $60/share. Position value = 20 shares x $60/share = $1,200 They both make you the exact same 20% profit. It makes sense when you think about it this way: a 20% increase in EPS is going to give you a 20% increase in price if the P/E is to remain constant. It doesn't matter what the dollar amount of the EPS or the share price is.\"",
"title": ""
},
{
"docid": "6bc624692d06ad64e7f32232c19638f6",
"text": "Your observation is mostly right, that 1 is a the number around which this varies. You are actually referencing PEG, P/E to Growth ratio, which is a common benchmark to use to evaluate a stock. The article I link to provides more discussion.",
"title": ""
},
{
"docid": "bf0daa4cff8d959a279c6cc91d5bcc87",
"text": "\"You can interpret prices in any way you wish, but the commonly quoted \"\"price\"\" is the last price traded. If your broker routes those orders, unlikely because they will be considered \"\"unfair\"\" and will probably be busted by the exchange, the only way to drive the price to the heights & lows in your example is to have an overwhelming amount of quantity relative to the order book. Your orders will hit the opposing limit orders until your quantity is exhausted, starting from the best price to the worst price. This is the functional equivalent to a market order.\"",
"title": ""
},
{
"docid": "f5a95d65477663dfcf01e2ed5e2fbee3",
"text": "There is no formula for calculating a stock price based on the financials of a company. A stock price is set by the market and always has a component built into it that is based on something outside of the current valuation of a company using its financials. Essentially, the stock price of a company per share is whatever the best price it can get on the open market. If you are looking at how to evaluate if a stock is a good value at the current price, then look at some of the answers, but I wanted to answer this based on the way you phrased the question.",
"title": ""
},
{
"docid": "96085ed5e9764b4c6311102d80047902",
"text": "Ideally, stock price reflects the value of the company, the dividends it is expected to pay, and what people expect the future value of the company to be. Only one of those (maybe one and a half) is related to current sales, and not always directly. Short-term motion of a stock is even less directly linked, since it also reflects previous expectations. A company can announce disappointing sales and see its stock go up, if the previous price was based on expecting worse news.",
"title": ""
},
{
"docid": "002b80db4e03dd70e5339d96f08e5817",
"text": "It is possible to figure out the next price. Just not for Joe Average. A stock exchange has a orderbook. This has two sides. One side has alle the buyers, how many shares they want, and what they are willing to pay. The other side has all the sellers, how many shares they got, and what price they are willing to accept. If any buyers and sellers match up, their orders are executed, money and shares are exchanged, everyone is happy. So the current asking price (the price you have to pay, to get some shares) is currently 12.46$. Let's say you want 6000 shares, for any price. The orderbook now looks like this: Your order is executed, you get 6000 shares for a total of 74,761$ (5900 * 12,46 + 100 * 12,47$). The order book now looks like this: The new asking price is 12.47$. Congrats, you knew the price in advance. Of course this is simplified, there are millions of entries on both sides, thousands of trades happen every millisecond and you'll have to pay the stock exchange a lot of money to give you all this information in real time. That's what high frequency traders are doing. They use highly specialised computer systems to exploit differences in stock exchanges all over the world. It's called arbitage. They have to be faster than the other guy. This race has gone on for a few years now, so that the limiting factor starts to become the speed of light. YOU are not going to benefit, or else you would not be asking questions on PERSONAL finance :)",
"title": ""
},
{
"docid": "f59b1cc2dbefc70bc7921721434794d3",
"text": "\"Generally, a share of stock entitles the owner to all future per-share dividends paid by the company, plus a fraction of the company's assets net value in the event of liquidation. If one knew in advance the time and value of all such payouts, the value of the stock should equal the present cash value of that payout stream, which would in turn be the sum of the cash values of all the individual payouts. As time goes by, the present cash value of each upcoming payout will increase until such time as it is actually paid, whereupon it will cease to contribute to the stock's value. Because people are not clairvoyant, they generally don't know exactly what future payouts a stock is going to make. A sane price for a stock, however, may be assigned by estimating the present cash value of its future payments. If unfolding events would cause a reasonable person to revise estimates of future payments upward, the price of the stock should increase. If events cause estimates to be revised downward, the price should fall. In a sane marketplace, if the price of a stock is below people's estimates of its payouts' current cash value, people should buy the stock and push the price upward. If it is above people's estimates, they should sell the stock and push the price downward. Note that in a sane marketplace, rising prices are a red-flag indicator for people to stop buying. Unfortunately, sometimes bulls see a red flag as a signal to charge ahead. When that happens, prices may soar through the roof, but it's important to note that the value of the stock will still be the present cash value of its future payouts. If that value is $10/share, someone who buys a share for $50 basically gives the seller $40 that he was not entitled to, and which the buyer will never get back. The buyer might manage to convince someone else to pay him $60 for the share, but that simply means the new buyer is giving the the previous one $50 that he wasn't entitled to either. If the price falls back to $10, calling that fall a \"\"market correction\"\" wouldn't be a euphemism, but rather state a fact: the share was worth $10 before people sold it for crazy prices, and still worth $10 afterward. It was the market price that was in error. The important thing to focus on as a sane investor is what the stock is actually going to pay out in relation to what you put in. It's not necessary to look only at present price/earnings ratios, since some stocks may pay little or nothing today but pay handsomely next year. What's important, however, is that there be a reasonable likelihood that in the foreseeable future the stock will pay dividends sufficient to justify its cost.\"",
"title": ""
},
{
"docid": "b6a62a2fce4ea7b69f9998722e5496b0",
"text": "\"I think for this a picture is worth a thousand words. This is a \"\"depth chart\"\" that I pulled from google images, specifically because it doesn't name any security. On the left you have all of the \"\"bids\"\" to buy this security, on the right you have the \"\"asks\"\" to sell the security. In the middle you have the bid/ask spread, this is the space between the highest bid and the lowest ask. As you can see you are free to place you order to the market to buy for 232, and someone else is free to place their order to the market to sell for 234. When the bid and the ask match there's a transaction for the maximum number of available shares. Alternatively, someone can place a market order to buy or sell and they'll just take the current market price. Retail investors don't really get access to this kind of chart from their brokers because for the most part the information isn't terribly relevant at the retail level.\"",
"title": ""
},
{
"docid": "71ec30d3609296f94f979a175af9cd19",
"text": "The quotes on JSE are for 100 share lots. The quotes on NYSE are for single shares. That still leaves some price difference, but much less than you calculated. (EDIT: Equivalently, the price is quoted in 1/100th of a Rand. The Reuter's listing makes this explicit since the price is listed as ZAc rather than ZAR. http://www.reuters.com/finance/stocks/overview?symbol=HARJ.J) As noted in the other answer currently up, NYSE is quoting American Depositary Receipts (ADRs) for this company, which is not directly its stock. The ADR in this case, if you check the prospectus, is currently 1 share of the ADR = 1 share of the stock on its home market. A US institution (in this case it looks like BNY Mellon) is holding shares of stock to back each ADR. Arbitrage is possible and does happen. It's not perfect though, because there are a variety of other cost and risk factors that need to be considered. There's a good review here: Report by JP Morgan Some summary points:",
"title": ""
},
{
"docid": "7b1d34a28244399603752ef694591459",
"text": "\"The value of a stock ultimately is related to the valuation of a corporation. As part of the valuation, you can estimate the cash flows (discounted to present time) of the expected cash flows from owning a share. This stock value is the so-called \"\"fundamental\"\" value of a stock. What you are really asking is, how is the stock's market price and the fundamental value related? And by asking this, you have implicitly assumed they are not the same. The reason that the fundamental value and market price can diverge is that simply, most shareholders will not continue holding the stock for the lifespan of a company (indeed some companies have been around for centuries). This means that without dividends or buybacks or liquidations or mergers/acquisitions, a typical shareholder cannot reasonably expect to recoup their share of the company's equity. In this case, the chief price driver is the aggregate expectation of buyers and sellers in the marketplace, not fundamental evaluation of the company's balance sheet. Now obviously some expectations are based on fundamentals and expert opinions can differ, but even when all the experts agree roughly on the numbers, it may be that the market price is quite a ways away from their estimates. An interesting example is given in this survey of behavioral finance. It concerns Palm, a wholly-owned subsidiary of 3Com. When Palm went public, its shares went for such a high price, they were significantly higher than 3Com's shares. This mispricing persisted for several weeks. Note that this facet of pricing is often given short shrift in standard explanations of the stock market. It seems despite decades of academic research (and Nobel prizes being handed out to behavioral economists), the knowledge has been slow to trickle down to laymen, although any observant person will realize something is amiss with the standard explanations. For example, before 2012, the last time Apple paid out dividends was 1995. Are we really to believe that people were pumping up Apple's stock price from 1995 to 2012 because they were waiting for dividends, or hoping for a merger or liquidation? It doesn't seem plausible to me, especially since after Apple announced dividends that year, Apple stock ended up taking a deep dive, despite Wall Street analysts stating the company was doing better than ever. That the stock price reflects expectations of the future cash flows from the stock is a thinly-disguised form of the Efficient Market Hypothesis (EMH), and there's a lot of evidence contrary to the EMH (see references in the previously-linked survey). If you believe what happened in Apple's case was just a rational re-evaluation of Apple stock, then I think you must be a hard-core EMH advocate. Basically (and this is elaborated at length in the survey above), fundamentals and market pricing can become decoupled. This is because there are frictions in the marketplace making it difficult for people to take advantage of the mispricing. In some cases, this can go on for extended periods of time, possibly even years. Part of the friction is caused by strong beliefs by market participants which can often shift pressure to supply or demand. Two popular sayings on Wall Street are, \"\"It doesn't matter if you're right. You have to be right at the right time.\"\" and \"\"It doesn't matter if you're right, if the market disagrees with you.\"\" They suggest that you can make the right decision with where to put your money, but being \"\"right\"\" isn't what drives prices. The market does what it does, and it's subject to the whims of its participants.\"",
"title": ""
},
{
"docid": "4e4095d42a193b554e513a451e5dc91b",
"text": "The company's value (which should be reflected in the share price) is not how much money it has in the bank, but something along the lines of 'how much money will it make between now and the end of times' (adjusted for time value of money and risk). So when you purchase a share of a company that has, say, little money in the bank, but expects to make 1M$ profit this year, 2M$ for the following 3 years, and say, nothing after, you are going to pay your fraction of 7M$ (minus some discount because of the risk involved). If now they announce that their profits were only 750k$, then people may think that the 2M$ are more likely to be 1.5M$, so the company's value would go to ~ 5M$. And with that, the market may perceive the company as more risky, because its profits deviated from what was expected, which in turn may reduce the company's value even further.",
"title": ""
},
{
"docid": "7ccebb6bcea7089d89b1fd72e66e3b81",
"text": "Thank you for replying. I'm not sure I totally follow though, aren't you totally at mercy of the liquidity in the stock? I guess I'm havinga hard time visualizing the value a human can add as opposed to say vwapping it or something. I can accept that you're right, just having a difficult time picturing it",
"title": ""
},
{
"docid": "c3dab5f5b1e022dab0028cec8b0265ad",
"text": "That is called a 'volume chart'. There are many interactive charts available for the purpose. Here is clear example. (just for demonstration but this is for India only) 1) Yahoo Finance 2) Google Finance 3) And many more Usually, the stock volume density is presented together (below it) with normal price vs time chart. Note: There is a friendly site about topics like this. Quant.stackexchange.com. Think of checking it out.",
"title": ""
},
{
"docid": "a9d3a69f8a6b441e6dc66b013eb677a9",
"text": "id like to start by saying youre still doing this yourself, and i dont actually have all the info required anyway, dont send it but >[3] Descriptive Statistical Measures: Provide a thorough discussion of the meaning and interpretation of the four descriptive >statistical measures required in your analysis: (1) Arithmetic Mean, (2) Variance, (3) Standard Deviation and (4) Coefficient of >Variation. For example, how are these measures related to each other? In order to develop this discussion, you may want to >consult chapters 2 and 3 of your textbook. This topic is an important part of your report. can be easily interpreted, im guessing the mean is simply just the observed (and then projected stock price for future models) the standard deviation determines the interval in which the stock price fluctuates. so you have like a curve, and then on this curve theirs a bunch of normal distributions modeling the variance of the price plotted against the month also the coefficient of variation is just r^2 so just read up on that and relate it to the meaning of it to the numbers you have actually my stats are pretty rusty so make sure you really check into these things but otherwise the formulas for part 4 is simple too. you can compare means of a certain month using certain equations, but there are different ones for certain situations you can test for significance by comparing the differences of the means and if its outside of your alpha level then it probably means your company is significantly different from the SP index. (take mu of SP - mu of callaway) you can also find more info on interpreting the two different coefficients your given if you look up comparing means of linear regression models or something",
"title": ""
},
{
"docid": "b05473247a4a23f270cd87f3c9d5db88",
"text": "While there are lots of really plausible explanations for why the market moves a certain way on a certain day, no one really knows for sure. In order to do that, you would need to understand the 'minds' of all the market players. These days many of these players are secret proprietary algorithms. I'm not quibbling with the specifics of these explanations (I have no better) just pointing out that these are just really hypotheses and if the market starts following different patterns, they will be tossed into the dust bin of 'old thinking'. I think the best thing you can explain to your son is that the stock market is basically a gigantic highly complex poker game. The daily gyrations of the market are about individuals trying to predict where the herd is going to go next and then after that and then after that etc. If you want to help him understand the market, I suggest two things. The first is to find or create a simple market game and play it with him. The other would be to teach him about how bonds are priced and why prices move the way they do. I know this might sound weird and most people think bonds are esoteric but there are bonds have a much simpler pricing model based on fundamental financial logic. It's much easier then to get your head around the moves of the bond markets because the part of the price based on beliefs is much more limited (i.e. will the company be able pay & where are rates going.) Once you have that understanding, you can start thinking about the different ways stocks can be valued (there are many) and what the market movements mean about how people are valuing different companies. With regard to this specific situation, here's a different take on it from the 'priced in' explanation which isn't really different but might make more sense to your son: Pretend for a second that at some point these stocks did move seasonally. In the late fall and winter when sales went up, the stock price increased in kind. So some smart people see this happening every year and realize that if they bought these stocks in the summer, they would get them cheap and then sell them off when they go up. More and more people are doing this and making easy money. So many people are doing it that the stock starts to rise in the Summer now. People now see that if they want to get in before everyone else, they need to buy earlier in the Spring. Now the prices start rising in the Spring. People start buying in the beginning of the year... You can see where this is going, right? Essentially, a strategy to take advantage of well known seasonal patterns is unstable. You can't profit off of the seasonal changes unless everyone else in the market is too stupid to see that you are simply anticipating their moves and react accordingly.",
"title": ""
}
] | fiqa |
4e7b18df8936133d34b122b165662f33 | How much power does a CEO have over a public company? | [
{
"docid": "fe6c62e0a4a3b86b3c7b77beb28cbd57",
"text": "The shareholders elect the board of directors who in turn appoint a CEO. The CEO is responsible for the overall running of the company. To answer your specific questions: Yes, Steve Jobs could make decisions that are harmful to the well-being of the company. However, it's the responsibility of the board of directors to keep his decisions and behavior in check. They will remove him from his position if they feel he could be a danger to the company.",
"title": ""
},
{
"docid": "8dd380987c8875e3144da0a56ae22f67",
"text": "If Steve Jobs [Tim Cook] were to decide to try to kill Apple, does he have the power to do so? Yes. But he would be held accountable. In addition to the other answers, the CEO is a fiduciary of the corporation. That means his/her actions must be in good faith and look out for the well-being of the company. Otherwise, he could be sued and held liable for civil damages and even criminally prosecuted for malfeasance.",
"title": ""
},
{
"docid": "2746b78eb02f9a09265196c4bd9e288a",
"text": "This is a very good question and is at the core of corporate governance. The CEO is a very powerful figure indeed. But always remember that he heads the firm's management only. He is appointed by the board of directors and is accountable to them. The board on the other hand is accountable to the firm's shareholders and creditors. The CEO is required to disclose his ownership of the firm as well. Ideally, you (as a shareholder) would want the board of directors to be as independent of the management as it is possible. U.S. regulations require, among other things, the board of directors to disclose any material relationship they may have with the firm's employees, ex-employees, or their families. Such disclosures can be found in annual filings of a company. If the board of directors acts independently of the management then it acts to protect the shareholder's interests over the firm management's interest and take seemingly hard decisions (like dismissing a CEO) when they become necessary to protect the franchise and shareholder wealth.",
"title": ""
},
{
"docid": "3f66d5baa80fec1f570bf779849b435e",
"text": "Also keep note - some companies have a combined CEO/Chairman of the board role. While he/she would not be allowed to negotiate contracts or stock plans, some corporate governance analysts advocate for the separation of the roles to remove any opportunity for the CEO to unduly influence the board. This could be the case for dysfunctional boards. However, the alternate camps will say that the combined role has no negative effect on shareholder returns. SEC regulations require companies to disclose negotiations between the board and CEO (as well as other named executives) for contracts, employee stock plans, and related information. Sometimes reading the proxy statement to find out, for example, how many times the board meets a year, how many other boards a director serves on, and if the CEO sits on any other board (usually discouraged to serve on more than 2) will provide some insight into a well-run (or not well-run) board.",
"title": ""
}
] | [
{
"docid": "77f89971a7a2ffed46917caca5dd0e33",
"text": "\"a lot of companies will \"\"class\"\" their shares and the founders will hold on to the A class shares so that they can distribute more than 50% but still retain the majority of control over company decisions. A lot of this stuff is set out in the underwriting.\"",
"title": ""
},
{
"docid": "0c25bc39b09256017b3426e5f5fcb448",
"text": "CEOs have multiple fiduciary duties, which fall into three broad categories: care, loyalty, and disclosure. You are probably referring to the duty of loyalty: to act, in good faith, in the best interests of shareholders, putting shareholders' interests above the CEOs' own personal interests.",
"title": ""
},
{
"docid": "a3b13c092ffbc8a95cfafc6ba4275c30",
"text": "Yes and no. Courts do understand the idea of tyranny of the majority. Specifically, actions that hurt the company for personal gain is still theft against the minority shareholders. It's common misconception that this fiduciary duty means that a CEO's job is to raise the price of their stock. The truth is, stock price is a number that has an extremely tenuous relation to actual company health. So, it's entirely possible for a shareholder lawsuit to happen. It's just typically cheaper and less hassle to sell the stocks for a loss and get out while they can.",
"title": ""
},
{
"docid": "88ab9f9eb83e88b5b691d94aa1f7100e",
"text": "Many CEOs I have heard of earn a lot more than 200k. In fact a lot earn more than 1M and then get bonuses as well. Many wealthy people increase there wealth by investing in property, the stock market, businesses and other assets that will produce them good capital growth. Oh yeh, and luck usually has very little to do with their success.",
"title": ""
},
{
"docid": "b85a2f8355082ec269db017ff3da7393",
"text": "Yes. I can by all means start my own company and name myself CEO. If Bill Gates wanted to hire me, I'll take the offer and still be CEO of my own company. Now, whether or not my company makes money and survives is another question. This is the basis of self-employed individuals who contract out their services.",
"title": ""
},
{
"docid": "b6467e804b2819ebdf69bc967a7c1f66",
"text": "At any given time there are buy orders and there are sell orders. Typically there is a little bit of space between the lowest sell order and the highest buy order, this is known as the bid/ask spread. As an example say person A will sell for $10.10 but person B will only buy at $10.00. If you have a billion shares outstanding just the space between the bid and ask prices represents $100,000,000 of market cap. Now imagine that the CEO is in the news related to some embezzlement investigation. A number of buyers cancel their orders. Now the highest buy order is $7. There isn't money involved, that's just the highest offer to buy at the time; but that's a drop from $10 to $7. That's a change in market cap of $3,000,000,000. Some seller thinks the stock will continue to fall, and some buyer thinks the stock has reached a fair enterprise value at $7 billion ($7 per share). Whether or not the seller lost money depends on where the seller bought the stock. Maybe they bought when it was an IPO for $1. Even at $7 they made $6 per share. Value is changing, not money. Though it would be fun, there's no money bonfire at the NYSE.",
"title": ""
},
{
"docid": "5c5b6590026b326732665a2758d4c3ef",
"text": "OTOH if you look at automobile purchases I don't know if anyone could tell you who the CEO of say, GM or Toyota or BMW is. Those purchases tend to be more emotional than anything else and not directly related to corporate or CEO behavior.",
"title": ""
},
{
"docid": "b0d37a12b0ea81470660693086bfb85c",
"text": "If you don't have any voting rights then you don't have much say in the direction of the company. Of course, if the majority of voting rights are held by 1 or 2 people/institutions then you probably don't have much say regardless. That said, 0.1% isn't a whole lot of a voice anyway.",
"title": ""
},
{
"docid": "4f2886f849780145584d7943a9172176",
"text": "http://www.catalyst.org/publication/271/women-ceos-of-the-fortune-1000 There are only 40 women CEO's out of the top 1000 companies. Looks like Virginia Rometty is viewed as a star at IBM. And you have Ursula Burns of Xerox. (Those are considered tech right?) Ursula Burns is kind of completely amazing actually. But there aren't a lot of high profile female CEO's because there aren't a lot of female CEO's period. You can look over the list for the tech ones. Also high profile is usually linked with something sexy and interesting to the public. I don't know many male CEOs. Apple, Amazon. That's about it. I don't even know who's in charge of google.",
"title": ""
},
{
"docid": "928598067c978d7ba6b404631e154c70",
"text": "The person holding the majority of shares can influence the decisions of the company. Even though the shareholder holds majority of the shares,the Board of Directors appointed by the shareholders in the Annual General Meeting will run the company. As said in the characteristics of the company,the owners and the administrators of the company are different. The shareholder holding majority of the shares can influence the business decisions like appointing the auditor,director etc. and any other business decisions(not taken in the ordinary business) that are taken in the Annual General Meeting.",
"title": ""
},
{
"docid": "0c18165ab9300dbfec22589dae0279d2",
"text": "Bullshit, I'm guessing you don't know many CEOs and what they provide for a company, do you? Also, your idea about private management is meaningless. The shareholders manage the company. End of story. They are also the owners.",
"title": ""
},
{
"docid": "a1c98ccc768243eed86cf029e1f1b71b",
"text": "Warren Buffet also isn't the CEO of a major company - or at least one that matters in this context. He is the CEO of Berkshire Hathaway. That is a holding company that owns a handful of other companies. It doesn't have customers, it doesn't sell a product. It owns companies that do those things, some of which directly rely on technology and need their CEO to have a strong understanding of technology. The things is though, that each of those companies? They have their own CEO - not Warren Buffett.",
"title": ""
},
{
"docid": "03de8137410bc7bd6ff8c85e0da1af97",
"text": "\"Trump called it \"\"controls\"\" rather than owns. He is firmly remaining as the CEO and is the largest shareholder so that's a moot point. That is still $85 billion in shares. If Trump wipes off only 10% in stock price with his constant threats of taxes and breaking up a monopoly, that would cost Bezos $8.5 billion. If Trump does break up Amazon then Bezos may lose much more. Trump explained to Fox News, \"\"This is owned as a toy by Jeff Bezos who controls Amazon. Amazon is getting away with murder tax-wise. He's using the Washington Post for power so that the politicians in Washington don't tax Amazon like they should be taxed,\"\" Trump said. Trump added that he read somewhere that Bezos was worried Trump would go after him for anti-trust violations.\"",
"title": ""
},
{
"docid": "560638c8ad7f70d280c4a628437bee49",
"text": "\"I hate to point this out, but have you heard of this guy Trump, or Warren Buffet (although his son seems to be very competent and grounded, to some degree). The US is also plagued with this problem where family companies remain so through leadership, they also tend to fail at greater rates than our publicly ran companies. I suppose Samsung is public company, but why having stock on the open KRX doesn’t lead to better leadership is beyond me to understand? EDIT:My bad for bringing Trump into this, it was meant as an example of wealth distribution which translates into capacity for business options, and he's well known. However you guys need to do some more research before throwing shade, Howard Buffet has taken over Berkshire Hathaway in a non-executive role, while also holding board positions on a multitude of companies in which BH own significant portions including coca-cola. I wasn't pointing out Warren is incompetent in any way, just he passed the reins off to family too in many ways. \"\"In December 2011, Warren Buffett told CBS News that he would like his son Howard to succeed him as Berkshire Hathaway's non-executive chairman.\"\" Apologies for lack of clarity in my statement.\"",
"title": ""
},
{
"docid": "eb7012fb5d54d8691f293657b1f463d5",
"text": "> Board members that have fiduciary responsibilities to investors (this includes the potential for personal liability). How often do lawsuits surrounding this even happen? How can shareholders prove in court that the CEO or whomever they are suing wasn't acting in the best interest of the company and actually have a meaningful case? There are countless badly run public companies out there and they don't get sued.",
"title": ""
}
] | fiqa |
7d924a6480702d8b14b5237bbddf0233 | Why the volume disparity between NUGT and DUST? | [
{
"docid": "cc8a049a4a54207f729b90de2e243f5c",
"text": "NUGT and DUST are opposites - DUST is a 'bear' (tracks 3x the inverse) and NUGT is a 'bull' (tracks 3x the actual). So if NUGT is much higher, sounds like people are betting on Gold (or specifically, on the NYSEARCA Gold Miners Index). When this Investopedia article was written in July 2016, the volumes were reversed: DUST traded ~18m and NUGT traded ~7m. Just differences in stock market activity.",
"title": ""
},
{
"docid": "7ef7559df647b9ac76b8ec7d324bbb4e",
"text": "NUGT and DUST both track GDX with triple leverage, but in opposite directions. GDX has been rising steadily throughout 2016, and certainly since over the last month. DUST experiences much higher volume when GDX is in a downward trend, as it was from 2013-2016. I think you'll see the same thing with DRIP and GUSH when oil has been moving steadily in one direction or the other. This is really a reflection of the herd mentality to jump in when things look like they're going a particular direction.",
"title": ""
}
] | [
{
"docid": "fd31341e74e58c2ac47999c27accd1a1",
"text": "Not only did it not explain *why*, it didn't ask if declining DAUs are surprising. My gut feeling is that these 'casual' games have a very short shelf-life, and that declining DAUs are not a cause for concern. Failing to replace old titles with new titles is probably the bigger problem here. The implication is that Zynga got lucky with its first few hits, and does not really have a strategic advantage that allows it to consistently produce hit games.",
"title": ""
},
{
"docid": "fd7d02335ff582044ff4b31a60e1cadd",
"text": "Dear Sir/madam We are Local Village Gold Miners from Rep. of Guinea, In West African. I am a Member of the Said Community and in charge of Marketing, Advertising, communication and sourcing potential diamond and gold dust buyers, agents/brokers or partners for our mined gold dust AU./DIAMONDS. Prior To The Latest Privilege Accorded Local Gold and Diamond Miners in Guinea Conakry Since April 2007 to Market and Sell Diamond and Gold Dust AU themselves, Thus my offer to AU Gold Dust and Diamond UNCUT Dust prospective buyers, Brokers, representatives, agents, intermediaries and partners willing To Establish Meaningful Business transaction that is Viable and Durable with us. Hence, I'm offering you a Fresh Gold Dust. AU for sale with the following specifications and details. COMMODITY.......................................AURUM UTALIUM (AU) Form................................Gold Dust/nugget Powder. Quantity..........................123kg - 500kgs and more. Quality/Purity.................. 22 carat or better. Finesse..........................92% OR Better. Location.......................... Conakry Origin............................. Guinea . Price per kg......................$35,000 USD/KG AS FOR THE DIAMOND THAT IS UNCUT, WE ARE IN POSITIONS OF OVER 4850 Carats OF GAMS STONE OF FDGH AND LM GRADES. We are looking forward to your response if our product does interest you. Accept our warm hearted Regards: NB : this is my alternative CONTACT US CAN SPEAK ENGLISH ,FRENCH AND CHINESE Tel:+22467118646 webs www.africalocalgoldminers.webs.com E-mail: africalocalgoldminers@yahoo.com Rue DI 519 Conakry Republique de Guinee Best Regard Mr john dabo",
"title": ""
},
{
"docid": "e293b7eaeb9ffb7005b17c4728f83da7",
"text": "Good god it's that expensive for CapIQ? Its pretty lame, I have to use it at work (large val shop), but its hit and miss. Have you tried Compustat or Factset? I've worked with both in the past, they seem cheaper and either may provide more reasonable pricing.",
"title": ""
},
{
"docid": "3d6a3a35a0f4309d5fa079aa0d144b0b",
"text": "Convexity refers to vega. Gamma refers to delta. Negative carry refers to time decay.",
"title": ""
},
{
"docid": "8a10b1be31f2f1826b045d9c71020ade",
"text": "You're interpreting things correctly, at least at a high level. Those numbers come from the 10Q filing and investor summary from Microsoft, but are provided to NASDAQ by Zacks Investment Research, as noted on the main page you linked to. That's a big investment data firm. I'm not sure why they reported non-GAAP Microsoft numbers and not, say, AAPL numbers; it's possible they felt the non-GAAP numbers reflect things better (or have in the past) for some material reason, or it's possible they made a typo, though the last three quarters at least all used non-GAAP numbers for MSFT. MSFT indicates that the difference in GAAP and non-GAAP revenue is primarily deferred revenue (from Windows and Halo). I did confirm that the SEC filing for MSFT does include the GAAP number, not the non-GAAP number (as you'd expect). I will also note that it looks like the 10Q is not the only source of information. Look at ORCL for example: they had in the March 2016 report (period ending 2/29/16) revenues of .50/share GAAP / .64/share non-GAAP. But the NASDAQ page indicates .59/share for that quarter. My suspicion is that the investment data firm (Zack's) does additional work and includes certain numbers they feel belong in the revenue stream but are not in the GAAP numbers. Perhaps MS (and Oracle) have more of those - such as deferred software revenues (AAPL has relatively little of that, as most of their profit is hardware).",
"title": ""
},
{
"docid": "e1966310279374bf6965ae0d213ec3c6",
"text": "I'm a bot, *bleep*, *bloop*. Someone has linked to this thread from another place on reddit: - [/r/talkbusiness] [General Motors Posts a Loss From Asset Sale, but Shares Rise](https://np.reddit.com/r/talkbusiness/comments/78pjq1/general_motors_posts_a_loss_from_asset_sale_but/) [](#footer)*^(If you follow any of the above links, please respect the rules of reddit and don't vote in the other threads.) ^\\([Info](/r/TotesMessenger) ^/ ^[Contact](/message/compose?to=/r/TotesMessenger))* [](#bot)",
"title": ""
},
{
"docid": "d1dbe7bda5a57a5d62c4680327a932c6",
"text": "It is difficult to reconcile historical balance sheets with historical cash flow statements because there are adjustments that are not always clearly disclosed. Practitioners consider activity on historical cash flow statements but generally don't invest time reconciling historical accounts, instead focusing on balancing projected balance sheets / cash flow statements. If you had non-public internal books, you could reconcile the figures (presuming they are accurate). In regards to Mike Haskel's comment, there's also a section pertaining to operating capital, not just effects on net income.",
"title": ""
},
{
"docid": "7cda4e508cbccdc13fb6c2499982293b",
"text": "You are correct about the first two questions. At the time it was last measured those were the percent invested in the Basic Materials sector for the ETF and its benchmark. Note, this ETF will be significantly different from its benchmark as it is an equal-weight index rather than the more common capitalization-weighted index. Meaning that this ETF could have materially different performance from its benchmark. The third column is the average sector weights of all the ETFs in Morningstar's Large Blend category. These are ETFs that generally invest in a broad collection of large U.S. stocks and (weighted?) average of all of them will be generally fairly close to the benchmark.",
"title": ""
},
{
"docid": "d40744eeefa980d846cdd4750c0934e6",
"text": "Türk Tesisat sektörünün en önemli firmalarında tecrübe kazanmış mühendislerden oluşan DURU Klima ; •Hava Dağıtım Sistemleri, Isıtma ve Soğutma Sistemleri (Soğuk Tavan, Soğuk Kiriş) ve Temiz Oda Bileşenleri ve Sistemlerinde (Ameliyathane Laminar Akış Ünitesi, Hepa Filtreli Tavan Difüzörleri) Alman KRANTZ, •Havuz Nem Alma Santralleri ve Otomasyonu Üzerinde Klima Santrallerinde Danimarkalı DANTHERM, •Fan-coil Üniteleri, Isıtma Apareyleri ve Radyant Panellerde İtalyan SABIANA •Hava ve Su Soğutmalı Soğutma Gruplarında İtalyan RC GROUP firmalarının Türkiye temsilcisi olarak faaliyet göstermektedir. En büyük sermayesi, ekibine ve işbirliği yaptığı firmalara duyduğu karşılıklı güven olan DURU Klima’nın misyonu huzurlu bir ortamda sağlam adımlarla, ‘’DURU’’ kalarak yoluna devam etmektir. Saygılarımızla, DURU KLİMA http://www.duruklima.com",
"title": ""
},
{
"docid": "1f3b7c0cb50f725f7421973e28a43e71",
"text": "If you look over the last few years, renewables have been 50%+ of new generation in the US. Nat Gas has been the other half. So coal is getting pushed out by both. It's not just gas, even though it has s larger installed base.",
"title": ""
},
{
"docid": "70a2615d2b2a9b3b90c8c1113fbff767",
"text": "19 x 3.75 = 71.25... without having to actually pump oil, transport it, refine crude, and deal with the health hazards of it. Not bad. Is this supposed to be a dramatic increase or decrease from the current market? Im not sure if im just being stupid, but I wish the article could involve financial comparisons of some sort... because I'm just mostly confused here.",
"title": ""
},
{
"docid": "594803b02ac90fe896d6011a89567cdb",
"text": "CFD providers typically offer CFDs to investors using either the direct market access (DMA) model or the market maker (MM) model. Direct Market Access The DMA model gives you access to trade the Underlying instrument on the relevant Exchange from which the CFD is then derived. All CFD Transactions under the DMA model have corresponding trades in the Underlying instrument. Under the DMA model, providers typically charge their clients Commission based on the notional contract value of the CFD. Market Maker The MM model uses the price of the Underlying instrument to derive the price of the CFD that is offered. Trading under the MM model does not necessarily mean that your CFD will be reflected by a corresponding trade in the Underlying instrument. Under the MM model each CFD Transaction creates a direct financial exposure for the provider, which may or may not be hedged in the Underlying instrument. Where the financial exposure is not hedged, the market risk may increase for the market maker. The MM model enables the provider to offer CFDs against synthetic assets, even if there is little Liquidity in the Underlying instrument, which can result in a wider range of products on offer than with the DMA model. Volatility and Illiquidity in the Underlying instrument can affect the pricing of MM CFDs. The MM model can charge its clients Commission based on the notional contract value or it can incorporate costs and fees in the dealing Spread, which represents the difference in price at which the issuer is prepared to Buy and Sell the CFD. What Do I use and why? I have traded with both DMA and MM models and prefer the MM. The big advantage with MM is that they will provide a market even when the underlying is very illiquid and only might have a few trades each day. Regarding the spread of the MM to the spread of the underlying, I have found the MM to be practically in line with the underlying spread about 95% of the time. The other 5% it may have been slightly wider than the spread of the underlying by usually 1c or 2c. Most MMs aim to give you the best spread they can because they want to keep your business. If they gave too wide a spread (compared to the underlying) it wouldn't be long before they had no customers.",
"title": ""
},
{
"docid": "477affea0d3a2ed026bc5aecbcc4504c",
"text": "\"i have to disagree about the \"\" the literal secret - the special alloy of copper, tin, and silver that gives the Zildjian cymbals their world-renowned sound.\"\" It is no secret, the alloy can be determined with these tools. http://www.niton.com/Niton-Analyzers-Products/Which-XRF-Analyzer-Is-Right-for-Me.aspx?sflang=en&gclid=CPXHwqCdvbACFQdeTAodfwP9Eg\"",
"title": ""
},
{
"docid": "2bea6b58e1a475a37a5b63d544ecd5e2",
"text": "Manufacturer of Ramming mass in India http://quartzpowdermanufacturers.com/supplier-of-ramming-mass-in-india.php Shri Vinayak Industries-Our Ramming Mass product has features like corrosion & wear resistance, better thermal stability, contains less binders, fire clay & moisture in comparison with plastic refractory, Optimal bulk density, Free from sintering agent, longer shelf life, accurately processed, high purity, reasonably priced, and durability. After that this ramming mass is delivered by us implementing precise quality control tests to the clients. Our product is usually available from ready stock.",
"title": ""
},
{
"docid": "39a433a84ddadd612b78e80c78d4808f",
"text": "\"The UK has Islamic banks. I don't know whether Germany has the same or not (with a quick search I can find articles stating intentions to establish one, but not the results). Even if there's none in Germany, I assume that with some difficulty you could use banks elsewhere in the EU and even non-Euro-denominated. I can't recommend a specific provider or product (never used them and probably wouldn't offer recommendations on this site anyway), but they advertise savings accounts. I've found one using a web search that offers an \"\"expected profit rate\"\" of 1.9% for a 12 month fix, which is roughly comparable with \"\"typical\"\" cash savings products in pounds sterling. Typical to me I mean, not to you ;-) Naturally you'd want to look into the risk as well. Their definition of Halal might not precisely match yours, but I'm sure you can satisfy yourself by looking into the details. I've noticed for example a statement that the bank doesn't invest your money in tobacco or alcohol, which you don't give as a requirement but I'm going to guess wouldn't object to!\"",
"title": ""
}
] | fiqa |
1168207e1bd3e1992f49b4747304e83d | How to calculate/reconcile conflicting P/E ratios? | [
{
"docid": "f1345773a388a7988bbb634ffc600e21",
"text": "The user who wrote the Zerohedge item: The CBS article: The Quora estimate is similar to the Zerohedge one (estimated a round value of 1000 PE and a price of 70-80). Note that it was 30 days after the first 2 items you quoted. You used the CBS numbers except you used the zerohedge price. It depends on which earnings were for each calculation. Past or future. The CBS numbers make the most sense because you can trace where they come from based on the links in their article. CBS based their price on the estimates made the day before the stock went on sale. The price in the zerohedge item was based on the early trading numbers.",
"title": ""
}
] | [
{
"docid": "3219e296cb1067d1fcae387db9bd14c5",
"text": "\"To calculate a sector (or index) P/E ratio you need to sum the market caps of the constituent stocks and divide it by the sum of the total earnings of the constituent stocks (including stocks that have negative earnings). There are no \"\"per share\"\" figures used in the calculation. Beware when you include an individual stock that there may be multiple issues associated with the company that are not in the index.... eg. Berkshire Hathaway BRK.B is in the S&P 500 but BRK.A is not. In contrast, Google has both GOOGL and GOOG included in the S&P 500 index but not its unlisted Class B shares. All such shares need to be included in the market cap and figuring out the different share class ratios can be tricky.\"",
"title": ""
},
{
"docid": "7aa54db9a4904567ac7fe6bc6c909344",
"text": "\"You could not have two stocks both at $40, both with P/E 2, but one an EPS of $5 and the other $10. EPS = Earnings Per Share P/E = Price per share/Earnings Per Share So, in your example, the stock with EPS of $5 has a P/E of 8, and the stock with an EPS of $10 has a P/E of 4. So no, it's not valid way of looking at things, because your understanding of EPS and P/E is incorrect. Update: Ok, with that fixed, I think I understand your question better. This isn't a valid way of looking at P/E. You nailed one problem yourself at the end of the post: The tricky part is that you have to assume certain values remain constant, I suppose But besides that, it still doesn't work. It seems to make sense in the context of investor psychology: if a stock is \"\"supposed to\"\" trade at a low P/E, like a utility, that it would stay at that low P/E, and thus a $1 worth of EPS increase would result in lower $$ price increase than a stock that was \"\"supposed to\"\" have a high P/E. And that would be true. But let's game it out: Scenario Say you have two stocks, ABC and XYZ. Both have $5 EPS. ABC is a utility, so it has a low P/E of 5, and thus trades at $25/share. XYZ is a high flying tech company, so it has a P/E of 10, thus trading at $50/share. If both companies increase their EPS by $1, to $6, and the P/Es remain the same, that means company ABC rises to $30, and company XYZ rises to $60. Hey! One went up $5, and the other $10, twice as much! That means XYZ was the better investment, right? Nope. You see, shares are not tokens, and you don't get an identical, arbitrary number of them. You make an investment, and that's in dollars. So, say you'd invested $1,000 in each. $1,000 in ABC buys you 40 shares. $1,000 in XYZ buys you 20 shares. Their EPS adds that buck, the shares rise to maintain P/E, and you have: ABC: $6 EPS at P/E 5 = $30/share. Position value = 40 shares x $30/share = $1,200 XYZ: $6 EPS at P/E 10 = $60/share. Position value = 20 shares x $60/share = $1,200 They both make you the exact same 20% profit. It makes sense when you think about it this way: a 20% increase in EPS is going to give you a 20% increase in price if the P/E is to remain constant. It doesn't matter what the dollar amount of the EPS or the share price is.\"",
"title": ""
},
{
"docid": "99d863578d26125199b3f9ac63a5bf4a",
"text": "\"To perhaps better explain the \"\"why\"\" behind this rule of thumb, first think of what it means when the P/E ratio changes. If the P/E ratio increases, then this means the stock has become more expensive (in relative terms)--for example, an increase in the price but no change in the earnings means you are now paying more for each cent of earnings than you previously were; or, a decrease in the earnings but no change in the price means you are now paying the same for less earnings. Keeping this in mind, consider what happens to the PE ratio when earnings increase (grow)-- if the price of the stock remains the same, then the stock has actually become relatively \"\"cheaper\"\", since you are now getting more earnings for the same price. All else equal, we would not expect this to happen--instead, we would expect the price of the stock to increase as well proportionate to the earnings growth. Therefore, a stock whose PE ratio is growing at a rate that is faster than its earnings are growing is becoming more expensive (the price paid per cent of earnings is increasing). Similarly, a stock whose PE ratio is growing at a slower rate than its earnings is becoming cheaper (the price paid per cent of earnings is decreasing). Finally, a stock whose P/E ratio is growing at the same rate as its earnings are growing is retaining the same relative valuation--even though the actual price of the stock may be increasing, you are paying the same amount for each cent of the underlying company's earnings.\"",
"title": ""
},
{
"docid": "7a1af1f518ca2fda333f2639837459d9",
"text": "PE ratio is the current share price divided by the prior 4 quarters earnings per share. Any stock quote site will report it. You can also compute it yourself. All you need is an income statement and a current stock quote.",
"title": ""
},
{
"docid": "5f5014ca6d5e1582d914c4400f4a7023",
"text": "This is a note from my broker, CMC Markets, who use Morningstar: Morningstar calculate the P/E Ratio using a weighted average of the most recent earnings and the projected earnings for the next year. This may result in a different P/E Ratio to those based solely on past earnings as reported on some sites and other publications. They show the P/E as being 9.93. So obviously past earnings would usually be used but you would need to check with your source which numbers they are using. Also, as BHP's results just came out yesterday it may take a while for the most recent financial details to be updated.",
"title": ""
},
{
"docid": "1066af5b8b288258e63e8c7f4a6f4ed3",
"text": "You can add $262,500 worth of notes payable (assuming that you use the cash to buy inventory immediately). Any more and you would push the current ratio below 2. In case this ratio is the trouble, the formula for current ratio is current assets over current liabilities. Notes payable is a current liability and inventory is a current asset so you add the number to both of them. I used Excel to do this. With this addition the quick ratio is 1.19. The formula for this is (current assets - inventory)/Current liabilities. So you take ($1,312,500 + $262,500 - $262,500 - $375,000)/($525,000 + $262,500) = 1.19",
"title": ""
},
{
"docid": "ce39b9dfd8d0449374b8c1df3bc0e9d5",
"text": "\"For free, 5 years is somewhat available, and 10 years is available to a limited extent on money.msn.com. Some are calculated for you. Gurufocus is also a treasure trove of value statistics that do in fact reach back 10 years. From the Gurufocus site, the historical P/E can be calculated by dividing their figure for \"\"Earnings per Share\"\" by the share price at the time. It looks like their EPS figure is split adjusted, so you'll have to use the split adjusted share price. \"\"Free cash\"\", defined in the comments as money held at the end of the year, can be found on the balance sheet as \"\"Cash, Cash Equivalents, Marketable Securities\"\"; however, the more common term is \"\"free cash flow\"\", and its growth rate can be found at the top of the gurufocus financials page.\"",
"title": ""
},
{
"docid": "a1002e1a15d4cbb39de3a75c762a98e7",
"text": "You can create something like that by: You'll have to determine the PE ratio manually from the financial statements. To get the PE ratio for each company, you can try the Edgar database, though I doubt it goes as far back as 1950. This blog has a graph of the DJIA PE ratio from 1929 - 2009.",
"title": ""
},
{
"docid": "985975023a13cbcb386766fa4e23c83d",
"text": "See this link...I was also looking an answer to the same questions. This site explains with an example http://www.independent-stock-investing.com/PE-Ratio.html",
"title": ""
},
{
"docid": "7b0c4f9b96ade9e42083f413ef5016f0",
"text": "You can illustrate why expense ratio fees are in the numerator with an extreme example: Let's say you have $100 in a mutual fund, their expense ratio is 50%, your nominal return is 900% and inflation is 900%. Thus, without the expense, your investment would give you $100 in present value (because your return and inflation are identical), and $1000 in future value. So with the expense ratio of 50% and no change in present value, you can reason that you would expect the expense ratio will eat half the present value. If you apply your equation and include expenses in the numerator, you end up with: ((100 - 100(.50))*(1+9))/(1+9) = $50 present value as you would expect If you apply the manager's assumption that fees are applied external to inflation, then you end up with: (100 * (1 + 9))/(1+9) - (100 * (1+9) * .50) = $-400 present value. With this example you can see applying the fees externally acts as though they are charging you the fees on future returns today. *Edit: It's probably not worth fighting with someone senior to you over, as inflation rates are noisy estimates to begin with and the difference between these is typically not material to the decision being made; but pissing off someone senior by showing them their math is off will probably have a material impact on you.",
"title": ""
},
{
"docid": "b0f869c36cbaef461e171d52dc5b2204",
"text": "What you're referring to is the yield. The issue with these sorts of calculations is that the dividend isn't guaranteed until it's declared. It may have paid the quarterly dividend like clockwork for the last decade, that does not guarantee it will pay this quarter. Regarding question number 2. Yield is generally an after the fact calculation. Dividends are paid out of current or retained earnings. If the company becomes hot and the stock price doubles, but earnings are relatively similar, the dividend will not be doubled to maintain the prior yield; the yield will instead be halved because the dividend per share was made more expensive to attain due to the increased share price. As for the calculation, obviously your yield will likely vary from the yield published on services like Google and Yahoo finance. The variation is strictly based on the price you paid for the share. Dividend per share is a declared amount. Assuming a $10 share paying a quarterly dividend of $0.25 your yield is: Now figure that you paid $8.75 for the share. Now the way dividends are allocated to shareholders depends on dates published when the dividend is declared. The day you purchase the share, the day your transaction clears etc are all vital to being paid a particular dividend. Here's a link to the SEC with related information: https://www.sec.gov/answers/dividen.htm I suppose it goes without saying but, historical dividend payments should not be your sole evaluation criteria. Personally, I would be extremely wary of a company paying a 40% dividend ($1 quarterly dividend on a $10 stock), it's very possible that in your example bar corp is a more sound investment. Additionally, this has really nothing to do with P/E (price/earnings) ratios.",
"title": ""
},
{
"docid": "237d225e0da24ae0ac9d26ba666568d8",
"text": "i will not calculate it for you but just calculate the discounted cash flow (by dividing with 1.1 / 1.1^2 / 1.1^3 ...)of each single exercise as stated and deduct the 12.000 of the above sum. in the end compare which has the highest npv",
"title": ""
},
{
"docid": "8a6e87ece5bda5dbb3720b8f90837b88",
"text": "\"Here is how I would approach that problem: 1) Find the average ratios of the competitors: 2) Find the earnings and book value per share of Hawaiian 3) Multiply the EPB and BVPS by the average ratios. Note that you get two very different numbers. This illustrates why pricing from ratios is inexact. How you use those answers to estimate a \"\"price\"\" is up to you. You can take the higher of the two, the average, the P/E result since you have more data points, or whatever other method you feel you can justify. There is no \"\"right\"\" answer since no one can accurately predict the future price of any stock.\"",
"title": ""
},
{
"docid": "bc8a62eba2e7e399e1295a6c80f1ee90",
"text": "\"Since doodle77 handled arbitrage, I'll take goodwill. Goodwill is an accounting term that acts much like a \"\"plug\"\" account: you add/subtract to it the amount that makes everything balance. In the case of goodwill, it generally only applies to mergers & acquisitions. The theory (and justification) is this: firms buy other firms at prices other than the market price (usually higher), and it is assumed that this is because the acquirer values its acquisition more than other people do. But whether you use historical prices or market prices when you add (subtract) assets and liabilities to to (from) your balance sheet, this will never add up, because you paid more (less) than the assets are worth in the market, so more (less) cash flowed out than assets flowed in. The difference goes into the goodwill account, so firms with a large goodwill account are ones that have made lots of acquisitions.\"",
"title": ""
},
{
"docid": "cbe185e1d074f6ebf2fe638058bf87b2",
"text": "Market price of a stock typically trades in a range of Price/Earnings Ratio (P/E ratio). Or in other words, price of a stock = Earnings * P/E ratio Because of this direct proportionality of stock price with earnings, stock prices move in tandem with earnings.",
"title": ""
}
] | fiqa |
9550bd6acb67c69dbbb38d411462ec3d | Why do stores and manufacturers use mail in rebates? A scam, or is there a way to use them effectively? | [
{
"docid": "e8b9a607be932228b6971a9f3471c756",
"text": "\"It's an effective way to achieve market segmentation without having to ask your customers how rich they are, and you get the benefit of finding out additional information like their address, email etc. The principle is similar to coupons on cereal boxes, anybody can get the rebate/discount if they go to the effort, but people who are cash rich/time poor are less likely to do so than those that really need the money. Joel Spolsky wrote about this and various other pricing mechanisms a while back, I like to reference the article every few weeks. It's well worth a read. Now, if you're retired and living off of social security, $7 an hour sounds pretty good, so you do it, but if you're a stock analyst at Merrill Lynch getting paid $12,000,000 a year to say nice things about piece-of-junk Internet companies, working for $7 an hour is a joke, and you're not going to clip coupons. Heck, in one hour you could issue \"\"buy\"\" recommendations on ten piece-of-junk Internet companies! So coupons are a way for consumer products companies to charge two different prices and effectively segment their market into two. Mail-in rebates are pretty much the same as coupons, with some other twists like the fact that they reveal your address, so you can be direct marketed to in the future.\"",
"title": ""
},
{
"docid": "37378016117cfe55477c3a200d8e8c6c",
"text": "I've had positive experiences and negative ones. One key is to be sure you have followed ALL of the instructions. Once I forgot a small piece of information and lost out on $40. I was not happy. A few weeks ago I got a rebate for $50 from Staples, and it couldn't have been simpler. Stick with big companies and make sure you do everything on time. Companies use rebates because they know some people will forget, mess up, or not use the rebate. They make a ton of money off of unused rebates.",
"title": ""
},
{
"docid": "b5628635272a039b4666d00717ac95ce",
"text": "\"Unfortunately too many companies view a Mail in rebate as an unwelcome cost instead of as a customer interaction issue, and it gives the company a bad reputation when someone gets stiffed on the mail in rebate, and it also has basically ruined the concept to a large degree. Many people will simply regard the rebate as worthless and evaluate the product based on the full price - killing what the company wanted to get out of it (Rich Seller hit the nail on the head), which is why you see \"\"instant rebates\"\" etc.\"",
"title": ""
},
{
"docid": "4c39f1bdb2a4800bdcd26ebbcf798d1e",
"text": "Chiming in with other answers that incriminate market segmentation attempts, I would like to offer this Seth Godin video where (among other things) he speaks about breakage, the art of making coupon redemption so difficult that most people get it wrong and do not redeem them. Oh, and when comparing/deciding which/whether to buy, I always use the up-front price. Don't want to encourage the wrong behavior.",
"title": ""
},
{
"docid": "eb7bb4c46288d13c229a97656695dafb",
"text": "Rebates are a great way to give discounts to customers who are cost sensitive. A long time ago, I worked for a retailer that extensively used rebates as a marketing tool. From my point of view, about 90% of the complaints that I investigated were a result of people not following directions. Biggest single thing was not sending original documentation when it was called for.",
"title": ""
},
{
"docid": "9c47423c7761218fadf9b8ecb9db947c",
"text": "There are many reasons, some already covered by other answers. I have a blog post on the issue here, and I'll summarize:",
"title": ""
},
{
"docid": "2abf6bc3e485833bc81ae2e3cf02ea3e",
"text": "Some notable percentage of buyers won't even try to do the rebate, or will forget - so it's a [relatively] cheap incentive to the consumer than most will miss out on.",
"title": ""
},
{
"docid": "6e6f249e0ff2a1eba602fb9da7350447",
"text": "Not so much a scam, if you fill the required paperwork and actually take time to mail it in assuming it's done correctly; you will get your money. That being said, having a mail-in rebate program is usually a win-win for the seller. While they may have to pay a small fee to a third party who handles the rebate almost always this influences a potential buyer to choose a specific product over the alternative. The seller knows very well that very few people will actually go through with it. And yes, they do often make the process needlessly complicated and long as a deterrent. Plus, let's be real, no one likes sending out physical letters anymore. From a marketing standpoint the mail-in rebate is a brilliant idea. However, it's usually more of an annoyance for the consumer.",
"title": ""
}
] | [
{
"docid": "8295b286876c60a2d0043058a9df4844",
"text": "Computers and digital cameras are great candidates for handing down because they can still be useful long after they have started looking dated to the initial buyer. Buying DVDs is unfortunately more convenient than renting in my hometown, but we make up for this by a liberal borrowing policy. And, perhaps most unusually, coupons -- the special discounts that mail-order retailers like to send when it's convenient for them to make a sale (or just arbitrarily, really). Those often have complicated terms so that they are only really interesting if exactly two articles are ordered, or the amount of the order exactly 80 EUR. A couple of persons in the family are the specialists of these discounts, and others can just tell them to watch for an interesting item. They'll place the order at the best time.",
"title": ""
},
{
"docid": "fad9d64626f90023c966ca639615a523",
"text": "Every reward program has to have a funding source. If the card gives you x percent back on all purchases. That means that their business is structured to entice you to pump more transactions through the system. Either their other costs are lower, or the increased business allows them to make more money off of late fees, and interest. If the card has you earn extra points for buying a type of item or from a type of store (home stores improvement in the Spring), they are trying to make sure you use their card for what can be a significant amount of business during a small window of time. Sometimes they cap it by saying 5% cash back at home improvement stores during the spring but only on the first $1500 of purchases. That limits it to $75 maximum. Adding more business for them, makes more money for them. Groceries and gas are a good year round purchase categories. Yes there is some variation depending on the season, and the weather, but overall there is not an annual cliff once the season ends. Gas and groceries account for thousands of dollars a year these are not insignificant categories, for many families are recession proof. If they perceive a value from this type of offer they will change their buying behavior. My local grocery store has a deal with a specific gas station. This means that they made a monetary deal. Because you earn points at the grocery store and spend points at the gas station, the grocery store is paying some compensation to the gas station every time you use points. The gas station must be seeing an increase in business so theoretically they don't get 100% compensation from the grocery store. In cases where credit cards give airline miles, the credit card company buys the miles from the airline at a discount because they know that a significant number of miles will never be used.",
"title": ""
},
{
"docid": "cee2f6ca79d788f239484db00eff466d",
"text": "\"Did you even read the article? These were people who went into the store and did this in person. there are no \"\"orders\"\" to cancel. As for invalidating the cards, again, the article stated that many people took the Target gift cards and used them to buy Amex and Visa gift cards. tl;dr **RTFA**\"",
"title": ""
},
{
"docid": "905ff51e9fab93967bccf2fbe7892bad",
"text": "\"This one struck a nerve I see. I also certainly understand your side- it's not \"\"right\"\" for the consumer to do it, in a strictly moral sense of the word. However, they're operating in a marketplace where Target will use any and all tricks in the book to increase revenue, including tax dodging/sheltering, lobbying against their citizens' interest, using non-union shops (see the Canadians' discussion below), etc. That is, Target is doing everything it can to gain the upper hand against consumers/employees/labor, etc, in the old \"\"labor vs capital\"\" battle. To ask individuals to adhere to a stricter set of marketplace rules is to put \"\"us\"\" (or any individual) at a disadvantage in said marketplace. Consumers need to be able to be just as ruthless in the marketplace as corporations. In this case, Target screwed up and thus pays for it. If Target found a perfectly legal loophole, it's guaranteed they would drive the whole ship through it. I mean, there's a reason corporate taxes rates are abysmally low. The argument I would accept is this: One could argue that the consumers, by using the gift card deal in a way that deliberately violates the terms of the contract of said card, are committing fraud. That's fine- I have no problem with saying it's wrong on that technicality. However, economics has been called the \"\"dismal science\"\" for a reason- there's no morality in a marketplace.\"",
"title": ""
},
{
"docid": "cabd4fc23a7fe0148bf3e415e2157075",
"text": "\"They weren't supposed to buy gift cards, and the coupon had a limit on it. These people bought gift cards and photocopied the coupon to get as much as $5,000 in free Target gift cards. That can't happen if you play by the rules. But I don't care, I wasn't being 100% dictionary-definition literal with my use of the word \"\"cheating.\"\"\"",
"title": ""
},
{
"docid": "950898f483d9ce6377d07e9f54f1e44b",
"text": "\"Understand that buying a Starbucks gift card at the grocery store to receive 6% back on your coffee rather than 6% back on your groceries is an exploit of a flaw in the benefits program, not a feature. It's definitely not a blanket yes or no answer, the only way to find out is to try. Separately, I don't know why you would find this \"\"concerning.\"\" This will vary greatly between merchants and cards. There will always be new points churning exploits, they don't last forever and you can't expect every customer service rep to be well versed in methods employed to juice cardmember programs. Hell, a number of years ago one person figured out that he could buy rolls of $1 coins from the US treasury with free shipping and no additional fees. This guy was literally buying thousands of dollars of cash each month to deposit and pay his credit card bill; completely against the terms of the treasury program for distributing the $1 coins. A number of people had their cards and points/cash back revoked for that one.\"",
"title": ""
},
{
"docid": "26df5f84fc25ddd998b843eefed72589",
"text": "\"It is likely a scam. In fact the whole mystery shopping \"\"job\"\" may be a scam. There is a Snopes page about cashier's check scams, as well as a US government page which specifically mentions mystery shopping as a scam angle. As for how the scam works, from the occ.gov site I just linked: However, cashier’s checks lately have become an attractive vehicle for fraud when used for payments to consumers. Although, the amount of a cashier’s check quickly becomes \"\"available\"\" for withdrawal by the consumer after the consumer deposits the check, these funds do not belong to the consumer if the check proves to be fraudulent. It may take weeks to discover that a cashier’s check is fraudulent. In the meantime, the consumer may have irrevocably wired the funds to a scam artist or otherwise used the funds—only to find out later, when the fraud is detected—that the consumer owes the bank the full amount of the cashier’s check that had been deposited. It is somewhat unusual in that, from what you say, there has been no attempt thus far to get money back. However, your sister-in-law may have received that info separately, or received it as part of her mystery shopping job but didn't mention it to you with regard to this check. Typically the scam involves telling the recipient to transfer money to a third party (e.g., by buying goods as a mystery shopper, or via wire transfer to \"\"reimburse\"\" someone associated with a sham operation). By the time the cashier's check is revealed as fraudulent, the victim has already transferred away his/her own real money. It's probably worth taking the check to your or her bank and asking them about it. They may have more info. Also, banks usually want to know about scams like this because, in the long run, they accumulate data on them and share that with law enforcement and can eventually catch some of the scammers. Edit: Just to help anyone who may be reading this later. The letter you added confirms it is absolutely a scam. My boss was once contacted via a scam operation very similar to this. The huge red flag (in addition to others already mentioned) is that you are being \"\"given\"\" a check for over $2000, of which only $25 is purportedly for actual mystery shopping and $285 is payment for you, the mystery shopper. The whole rest of the $2000+ amount is for you to wire to \"\"another Mystery/Secret Shopper in order for them to complete their assignment\"\". They are giving you $2000 to give to someone else who is supposedly another one of their own employees/contractors. Ask yourself what sane business would conduct their operations in this way. If you work at a law office, or a hamburger stand, or a school, or anything you like, does your boss ever say \"\"Here is your paycheck for $5000. I know you only earned $1000, but I'm just going to give you the whole $5000, and you're supposed to use $4000 of it to pay your coworker Joe his wages.\"\" No. There is no reason to do that except that the \"\"other mystery shopper\"\" is actually the scammer.\"",
"title": ""
},
{
"docid": "9c08be007e7cb309ab80980bbb7d5495",
"text": "\"Most people on Reddit don't seem to \"\"get\"\" any system they're talking about, and this is the perfect example. The patent was approved before the sale. It takes about 2 years to get a non-controversial patent in the US. Maybe they were in talks for this acquisition 2 1/2 years ago, but that's somewhat unlikely given the timelines for most acquisitions. It would be so far and away more valuable to Amazon to prevent a shopper at a competitor from seeing that they could get the same product for 30% less on Amazon than to ever prevent someone in their \"\"forthcoming brick and mortar empire\"\" from doing it. As far as a brick and mortar store goes groceries is also a very low margin one. Yes they picked the high end market that would be better than your average Safeway, Bi-Lo, or Walmart, but it's also a relatively small one compared to the alternatives and I think it's dumb to expect that to make a difference. Groceries are the \"\"final frontier\"\" for Amazon as far as making sure they can deliver anything, anywhere, today. It's basically having cold storage warehouses in every metro area without having to build them. Edit: yeah, there was a missed double negative there. Obviously it's in their interest to keep *other businesses* from preventing people in their stores from realizing they can get things cheaper on Amazon.\"",
"title": ""
},
{
"docid": "b12d022626f6db29928c4eaeb5b613cb",
"text": "\"Here I thought I would not ever answer a question on this site and boom first ten minutes. First and foremost I am in the automotive industry, specifically one of our core competencies is finance department management consulting and the sales process both for the sale of the care as well as the financial transaction. First and foremost new vehicle gross profits are nowhere near 20% for the dealership. In an entry level vehicle like say a Toyota Corolla there is only a few hundreds of dollars in markup from invoice to M.S.R.P. There is also something called holdback that dealers get for achieving certain goals such as sales volume. These are usually pretty easy to hit. As a matter of fact I have never heard of a dealer not getting the hold back on a deal. This hold back is there to cover overhead for the car, the cost of getting it ready to sell, having a lot to park it on, making it ready for delivery, offset some of the cost of sales labor etc. Most dealerships consider the holdback portion of the invoice to not be part of the deal when it comes to negotiations. Certain brands such as KIA and Chrysler have something called \"\"Dealer Cash\"\" these payouts are usually stair stepped according to volume and vary by dealer, location, past history, how the guys at the factory feel that day and any number of combinations. Then there is CSI or Customer Service Index payments, these payments are usually made every 1/4 are on the Parts Statement not the Sales Doc and while they effect the dealers bottom line they almost never affect the sales managers or sales persons payroll so they are not considered a part of the cost of the car. They are however extremely important to the dealer and this is why after you have your new car they want you to bring in your survey for a free oil change or something. IF you are going to give a bad survey they want to throw it away and not send it in, if you are going to give a good survey they want to make sure you fill it out correctly. This is because lets say they ask you on a scale of 1-10 how was your sales person and you put a 9 that is a failing score. Dumb I know but that is how every factory CSI score system I have seen worked. According to NADA the average New Vehicle gross profit including hold back and dealer cash is around $1000.00. No where near 20%. Dealerships would love it if they made 20% on your new F250 Supercrew Diesel at around $50,000.00. One last thing there is something on the invoice called Wholesale Finance Reserve. This is the amount of money the factory forwards to the Dealership to offset the cost of financing vehicle on the floor plan so they can have it for you to look at before you buy. This is usually equal to around 3 months of interest and while you might buy a vehicle that has been on the lot for 2 days they have plenty that have been there much longer so this equals out in a fair to middling run store. General Mangers that know what they are doing can make this really pad their net profit to statement. On to incentives, there are basically 3 kinds. Cash to customer in the form of rebates, Dealer Cash in the form of incentives to dealerships based on volume or the undesirability of a vehicle, and incentive rates or Subvented leases. The rates are pretty self explanatory as they advertised as such (example 0% for 60 Months). Subvented Leased are harder to figure out and usually not disclosed as they are hard to explain and also a source of increased profit. Subvented leases are usually powered by lower cost of money called a money factor (think of it as an interest rate) that is discounted from the lease company or a subsidized residual. Subsidized residuals are virtually verboten on domestic vehicles due to their poor resell values. A subsidized residual works like this, you buy a Toyota Camry and the ALG (automotive lease guide) says it has a residual at 36 months of 48%. Well Toyota Motor Credit says we will give you a subvented residual of 60% basically subsidizing a 2% increase in residual. Since they do not expect to be able to sell the car at auction for that amount they have to set aside the 2% as a future expense. What does this mean to you, it means a lower payment. Also a good rule of thumb if you are told a money factor by your salesperson to figure out what the interest rate is just multiply it by 2400. So if a money factor is give of .00345 you know your actual interest rate is a little bit lower than 8.28% (illustration purposes only money factors are much lower than that right now). So how does this save you money well a lease is basically calculated by multiplying the MSRP by the residual and then subtracting that amount from the \"\"Capitalized Cost\"\" which is the Price paid for the car - trade in + payoff + TT&L-Rebate-Down Payment. That is the depreciation. Then you divide that number by the term of the loan and you have the depreciation amount. So if you have 20K CC and 10K R your D = 10K / 36 = 277 monthly payment. For the rest of the monthly payment you add (I think been a long time since I did this with out a computer) the Residual plus the CC for $30,000 * MF of .00345 = 107 for a total payment of 404 ish. This is not completely accurate but you can use it to make sure a salesperson/finance person is not trying to do one thing and say another as so often happens on leases. 0% how the heck do they make money at that, well its simple. First in 2008 the Fed made all the \"\"Captive\"\" lenders into actual banks instead of whatever they were before. So now they have access to the Fed's discounting window which with todays monetary policies make it almost free money. In the past these lenders had to go through all kinds of hoops to raise funds and securitize loans even for super prime credit. Those days are essentially over. Now they get their short term money just like Bank of America does. Eventually they still bundle these loans and sell them. So in the short term YOU pay for the 0% by giving up part or all of your rebate. This is really important DO NOT GIVE up your rebate for 0% unless it makes sense to do so. When you can get the money at 2.5% and get a $7000.00 rebate (customer cash) on that F250 or 0% take the cash. First of all make the finance guy/gal show you the the difference in total cost they can do do this using the federal truth in lending disclosures on a finance contract. Secondly how long will you keep the vehicle? If you come out ahead by say $1500 by taking the lower rate but you usually trade out every three years this is not going to work. Also and this is important if you are involved in a situation with a total loss like a stolen car or even worse a bad wreck before the breakeven point you lose that price break. Finally on judging what is right for you, just know that future value of the vehicle on for resell or trade-in will take into effect all of these past rebates and value the car accordingly. So if a vehicle depreciates 20% a year for the first 3 years the starting point will essentially be $7000.00 less than you actually paid, using rough numbers. How does this help the dealers and car companies? Well while a dealer struggles to make money on new cars the factory makes all of their money on the new cars and the new car financing. While your individual loan might lose money that money is offset by the loss of rebate and I think Ford does actually pay Ford Motor Credit Company the difference in the rate. The most important thing is what happens later FMCC now has 2500 loans with people with perfect credit. They can now use those loans to budle with people with not so perfect credit that they financed at 12%-18% and buy that money with interest rates in the 2%-3% range. Well that is a hell of a lot of profit. 'How does it help the dealership, well the more super prime credit they have in their portfolio the more subprime credit the banks will buy for them. This means they have more loans originated that are more profitable for them. Say you come in for the 0% but have 590 credit score, they get FMCC to buy the deal because they have a good portfolio and you win because the dealer gets to buy the money at say 9% and sell it to you at say 12% making the spread. You win there because you actually qualified for a rate of around 18% with a subprime company like Santander or Capital One (yes that capital one) so you save a ton on your overall cost of the car. Any dealership that is half way well run makes as much or money in the finance and insurance office than the rest of the dealership. When you factor in what a good F&I Director can do to get deals done with favorable terms that really goes up. Think about that the guys sitting a desk drinking coffee making more than the service department guys all put together. Well that was long winded but there I broke down the car business for whoever read this far.\"",
"title": ""
},
{
"docid": "b20d02dcab564c4a982b62fa79932712",
"text": "\"There's a concept in retail called a \"\"loss leader\"\", and essentially it means that a store will sell an item intentionally at a loss as a way of bringing in business in the hope that while consumers are in the store taking advantage of the discounted item, they'll make other purchases to make up for the loss and generate an overall profit. Many times it only makes sense to carry items that enhance the value of something else the store sells. Stores pay big money to study consumer behaviors and preferences in order to understand what items are natural fits for each other and the best ways to market them. A good example of what you're talking about is the fact that many grocery stores carry private label products that sell for higher margins, and they'll stock them alongside the name brands that cost much more. As a consequence (and since consumers often don't see a qualitative difference between store brands and name brands much of the time to rationalize spending more), the store's own brands sell better. I hope this helps. Good luck!\"",
"title": ""
},
{
"docid": "18fc339279a168216568ea7feace6c69",
"text": "Thank you for the summary! I live in a small city where it would never take more than 10 minutes to walk into the store and get your refund, so I don't see a huge advantage to this. Maybe for bigger and busier stores.",
"title": ""
},
{
"docid": "e138d48bd150ef9c9d160460027a7c44",
"text": "Because your friend isn't going to like the ~2% charge they have to pay to the credit card company on the $10,000 purchase. Credit card companies make money off of transactions. The cardholder normally doesn't pay any transaction fees (and in fact can make a profit via rewards), but the merchant has to pay a certain amount of money to the credit card company for the transaction. In this case, the apartment owners ate the charge, likely because it was easier for them to send a check than to refund the cost of the fee through the credit card company. If you started doing this a lot to take advantage of this, I would imagine they would get smart and refuse your business (it'll be pretty obvious what you're doing if you're not signing any leases).",
"title": ""
},
{
"docid": "fc2ade6041922447eedfb53677d9184a",
"text": "\"Here's another rational reason: Discount. This typically works only in smaller stores, where you're talking directly to the owners, but it is sometimes possible to negotiate a few percent off the price when paying by check, since otherwise they'd have to give a few percent to the credit card company. (Occasionally the sales reps at larger stores have the authority to cut this deal, but it's far less common.) Not worth worrying about on small items, but if you're making a large purchase (a bedroom suite, for example) it can pay for lunch. And sometimes the store's willing to give you more discount than that, simply because with checks they don't have to worry about chargebacks or some of the other weirdnesses that can occur in credit card processing. Another reason: Nobody's very likely to steal you check number and try to write themselves a second check or otherwise use it without authorization. It's just too easy to steal credit card info these days to make printing checks worth the effort. But, in the end, the real answer is that there's no rational reason not to use checks. So it takes you a few seconds more to complete the transaction. What were you going to do with those seconds that makes them valuable? Especially if they're seconds that the store is spending bagging your purchase, so there's no lost time... and the effort really isn't all that different from signing the credit card authorization. Quoting Dean Inge: \"\"There are two kinds of fool. One says 'this is old, and therefore good.' The other says 'this is new, and therefore better.'\"\"\"",
"title": ""
},
{
"docid": "bba97770f7b68aee993d8a234005dff1",
"text": "Ebates is great for getting a little extra discount once you find what you are looking for. You can usually get about 2%-4% off from places like Dell, Staples, Home Depot, etc. What I do is do my research/shopping first and then add the item to the cart, then head over to Ebates and click through back to the store I was just on, and then purchase the item. Ebates will track the purchase and send you a check about once every 3 months. It is not much and not reflected in the price immediately but still it is a savings of some sort.",
"title": ""
},
{
"docid": "387c129acc390a3c1a392d09e73a8b0f",
"text": "\"Of course Goldman Sacs sells the bonds to the fed without charging a commission. They are well known for their compassionate altruism. Just kidding! Of course they charge. The Federal Reserve Act specifies that the Federal Reserve buy and sell Treasury securities only in the \"\"open market.\"\" The Federal Reserve conducts its purchases through \"\"Primary Dealers\"\" - usually Goldman Sacs-these btw are older securities. The new ones such as the fed has been gobbling up lately are sold at auction. This supposedly supports the central banks independence in conducting monetary policy but still doesn't seem right. But then the fact that we have a central bank at all instead of the U.S. Treasury printing the money, doesn't seem quite right either now does it?\"",
"title": ""
}
] | fiqa |
275634b8e1be45aa4e658d3acc34d7c8 | Software-defined networking security: pros and cons | [
{
"docid": "1657df28bba01b18fb26bb8c823ad4b4",
"text": "Come with us to read a new book that is coming recently. Yeah, this is a new coming book that many people really want to read will you be one of them? Of course, you should be. It will not make you feel so hard to enjoy your life. Even some people think that reading is a hard to do, you must be sure that you can do it. Hard will be felt when you have no ideas about what kind of book to read. Or sometimes, your reading material is not interesting enough.",
"title": ""
}
] | [
{
"docid": "d929208943c4fe87598704ace5ea510b",
"text": "Deep learning has been shown to achieve outstanding performance in a number of challenging real-world applications. However, most of the existing works assume a fixed set of labeled data, which is not necessarily true in real-world applications. Getting labeled data is usually expensive and time consuming. Active labelling in deep learning aims at achieving the best learning result with a limited labeled data set, i.e., choosing the most appropriate unlabeled data to get labeled. This paper presents a new active labeling method, AL-DL, for cost-effective selection of data to be labeled. AL-DL uses one of three metrics for data selection: least confidence, margin sampling, and entropy. The method is applied to deep learning networks based on stacked restricted Boltzmann machines, as well as stacked autoencoders. In experiments on the MNIST benchmark dataset, the method outperforms random labeling consistently by a significant margin.",
"title": ""
},
{
"docid": "80d920f1f886b81e167d33d5059b8afe",
"text": "Agriculture is one of the most important aspects of human civilization. The usages of information and communication technologies (ICT) have significantly contributed in the area in last two decades. Internet of things (IOT) is a technology, where real life physical objects (e.g. sensor nodes) can work collaboratively to create an information based and technology driven system to maximize the benefits (e.g. improved agricultural production) with minimized risks (e.g. environmental impact). Implementation of IOT based solutions, at each phase of the area, could be a game changer for whole agricultural landscape, i.e. from seeding to selling and beyond. This article presents a technical review of IOT based application scenarios for agriculture sector. The article presents a brief introduction to IOT, IOT framework for agricultural applications and discusses various agriculture specific application scenarios, e.g. farming resource optimization, decision support system, environment monitoring and control systems. The article concludes with the future research directions in this area.",
"title": ""
},
{
"docid": "52e28bd011df723642b6f4ee83ab448d",
"text": "Researchers in a variety of fields, including aeolian science, biology, and environmental science, have already made use of stationary and mobile remote sensing equipment to increase their variety of data collection opportunities. However, due to mobility challenges, remote sensing opportunities relevant to desert environments and in particular dune fields have been limited to stationary equipment. We describe here an investigative trip to two well-studied experimental deserts in New Mexico with DRHex, a mobile remote sensing platform oriented towards desert research. D-RHex is the latest iteration of the RHex family of robots, which are six-legged, biologically inspired, small (10kg) platforms with good mobility in a variety of rough terrains, including on inclines and over obstacles of higher than robot hip height.",
"title": ""
},
{
"docid": "51ae09462b4def4ff6d9994c6532cb7c",
"text": "Issue No. 2, Fall 2002 www.spacejournal.org Page 1 of 29 A Prediction Model that Combines Rain Attenuation and Other Propagation Impairments Along EarthSatellite Paths Asoka Dissanayake, Jeremy Allnutt, Fatim Haidara Abstract The rapid growth of satellite services using higher frequency bands such as the Ka-band has highlighted a need for estimating the combined effect of different propagation impairments. Many projected Ka-band services will use very small terminals and, for some, rain effects may only form a relatively small part of the total propagation link margin. It is therefore necessary to identify and predict the overall impact of every significant attenuating effect along any given path. A procedure for predicting the combined effect of rain attenuation and several other propagation impairments along earth-satellite paths is presented. Where accurate model exist for some phenomena, these have been incorporated into the prediction procedure. New models were developed, however, for rain attenuation, cloud attenuation, and low-angle fading to provide more overall accuracy, particularly at very low elevation angles (<10°). In the absence of a detailed knowledge of the occurrence probabilities of different impairments, an empirical approach is taken in estimating their combined effects. An evaluation of the procedure is made using slant-path attenuation data that have been collected with simultaneous beacon and radiometer measurements which allow a near complete account of different impairments. Results indicate that the rain attenuation element of the model provides the best average accuracy globally between 10 and 30 GHz and that the combined procedure gives prediction accuracies comparable to uncertainties associated with the year-to-year variability of path attenuation.",
"title": ""
},
{
"docid": "da2f99dd979a1c4092c22ed03537bbe8",
"text": "Several large cloze-style context-questionanswer datasets have been introduced recently: the CNN and Daily Mail news data and the Children’s Book Test. Thanks to the size of these datasets, the associated text comprehension task is well suited for deep-learning techniques that currently seem to outperform all alternative approaches. We present a new, simple model that uses attention to directly pick the answer from the context as opposed to computing the answer using a blended representation of words in the document as is usual in similar models. This makes the model particularly suitable for question-answering problems where the answer is a single word from the document. Our model outperforms models previously proposed for these tasks by a large margin.",
"title": ""
},
{
"docid": "fe16f2d946b3ea7bc1169d5667365dbe",
"text": "This study assessed embodied simulation via electromyography (EMG) as participants first encoded emotionally ambiguous faces with emotion concepts (i.e., \"angry,\"\"happy\") and later passively viewed the faces without the concepts. Memory for the faces was also measured. At initial encoding, participants displayed more smiling-related EMG activity in response to faces paired with \"happy\" than in response to faces paired with \"angry.\" Later, in the absence of concepts, participants remembered happiness-encoded faces as happier than anger-encoded faces. Further, during passive reexposure to the ambiguous faces, participants' EMG indicated spontaneous emotion-specific mimicry, which in turn predicted memory bias. No specific EMG activity was observed when participants encoded or viewed faces with non-emotion-related valenced concepts, or when participants encoded or viewed Chinese ideographs. From an embodiment perspective, emotion simulation is a measure of what is currently perceived. Thus, these findings provide evidence of genuine concept-driven changes in emotion perception. More generally, the findings highlight embodiment's role in the representation and processing of emotional information.",
"title": ""
},
{
"docid": "9df09e27a1570c8d0a2fb42b8db2aa78",
"text": "Self-driving cars offer a bright future, but only if the public can overcome the psychological challenges that stand in the way of widespread adoption. We discuss three: ethical dilemmas, overreactions to accidents, and the opacity of the cars’ decision-making algorithms — and propose steps towards addressing them.",
"title": ""
},
{
"docid": "5956e9399cfe817aa1ddec5553883bef",
"text": "Most existing zero-shot learning methods consider the problem as a visual semantic embedding one. Given the demonstrated capability of Generative Adversarial Networks(GANs) to generate images, we instead leverage GANs to imagine unseen categories from text descriptions and hence recognize novel classes with no examples being seen. Specifically, we propose a simple yet effective generative model that takes as input noisy text descriptions about an unseen class (e.g. Wikipedia articles) and generates synthesized visual features for this class. With added pseudo data, zero-shot learning is naturally converted to a traditional classification problem. Additionally, to preserve the inter-class discrimination of the generated features, a visual pivot regularization is proposed as an explicit supervision. Unlike previous methods using complex engineered regularizers, our approach can suppress the noise well without additional regularization. Empirically, we show that our method consistently outperforms the state of the art on the largest available benchmarks on Text-based Zero-shot Learning.",
"title": ""
},
{
"docid": "79287d0ca833605430fefe4b9ab1fd92",
"text": "Passwords are frequently used in data encryption and user authentication. Since people incline to choose meaningful words or numbers as their passwords, lots of passwords are easy to guess. This paper introduces a password guessing method based on Long Short-Term Memory recurrent neural networks. After training our LSTM neural network with 30 million passwords from leaked Rockyou dataset, the generated 3.35 billion passwords could cover 81.52% of the remaining Rockyou dataset. Compared with PCFG and Markov methods, this method shows higher coverage rate.",
"title": ""
},
{
"docid": "f7d728041dacdd701d2e9700864121ae",
"text": "This article analyzes late-life depression, looking carefully at what defines a person as elderly, the incidence of late-life depression, complications and differences in symptoms between young and old patients with depression, subsyndromal depression, bipolar depression in the elderly, the relationship between grief and depression, along with sleep disturbances and suicidal ideation.",
"title": ""
},
{
"docid": "14679a23d6f0d7b8652c74b7ab9a4a03",
"text": "The JPEG baseline standard for image compression employs a block Discrete Cosine Transform (DCT) and uniform quantization. For a monochrome image, a single quantization matrix is allowed, while for a color image, distinct matrices are allowed for each color channel.. Here we describe a method, called DCTune, for design of color quantization matrices that is based on a model of the visibility of quantization artifacts. The model describes artifact visibility as a function of DCT frequency, color channel, and display resolution and brightness. The model also describes summation of artifacts over space and frequency, and masking of artifacts by the image itself. The DCTune matrices are different from the de facto JPEG matrices, and appear to provide superior visual quality at equal bit-rates.",
"title": ""
},
{
"docid": "3c735e32191db854bbf39b9ba17b8c2b",
"text": "While many image colorization algorithms have recently shown the capability of producing plausible color versions from gray-scale photographs, they still suffer from limited semantic understanding. To address this shortcoming, we propose to exploit pixelated object semantics to guide image colorization. The rationale is that human beings perceive and distinguish colors based on the semantic categories of objects. Starting from an autoregressive model, we generate image color distributions, from which diverse colored results are sampled. We propose two ways to incorporate object semantics into the colorization model: through a pixelated semantic embedding and a pixelated semantic generator. Specifically, the proposed network includes two branches. One branch learns what the object is, while the other branch learns the object colors. The network jointly optimizes a color embedding loss, a semantic segmentation loss and a color generation loss, in an end-to-end fashion. Experiments on PASCAL VOC2012 and COCO-stuff reveal that our network, when trained with semantic segmentation labels, produces more realistic and finer results compared to the colorization state-of-the-art. Jiaojiao Zhao Universiteit van Amsterdam, Amsterdam, the Netherlands E-mail: j.zhao3@uva.nl Jungong Han Lancaster University, Lancaster, UK E-mail: jungonghan77@gmail.com Ling Shao Inception Institute of Artificial Intelligence, Abu Dhabi, UAE E-mail: ling.shao@ieee.org Cees G. M. Snoek Universiteit van Amsterdam, Amsterdam, the Netherlands E-mail: cgmsnoek@uva.nl",
"title": ""
},
{
"docid": "cfe7cffeb7b99c3fe4cb54985d07afb0",
"text": "The Internet of Things (IoT) applications is envisioned to require higher throughput protocols because of the increasing data amount. To significantly enhance the network throughput between IoT devices, this paper proposes a new link-layer data forwarding technique that is aware of link correlation (LC) and supports receiver initiated acknowledgement (RI-ACK). We also propose a multicast communication protocol based on LC-aware forwarding and RI-ACKs to further enhance the throughput. In a simulation study, our protocol improves the throughput by 35%-55% comparing to a state-of-the-art baseline.",
"title": ""
},
{
"docid": "0348469edcf3d6533fdd6d3612a97fb0",
"text": "Cloud computing brings a number of advantages to consumers in terms of accessibility and elasticity. It is based on centralization of resources that possess huge processing power and storage capacities. Fog computing, in contrast, is pushing the frontier of computing away from centralized nodes to the edge of a network, to enable computing at the source of the data. On the other hand, Jungle computing includes a simultaneous combination of clusters, grids, clouds, and so on, in order to gain maximum potential computing power.",
"title": ""
},
{
"docid": "31b279fd7bd4a6ef5f25a8f241eb0b56",
"text": "Like many epithelial tumors, head and neck squamous cell carcinoma (HNSCC) contains a heterogeneous population of cancer cells. We developed an immunodeficient mouse model to test the tumorigenic potential of different populations of cancer cells derived from primary, unmanipulated human HNSCC samples. We show that a minority population of CD44(+) cancer cells, which typically comprise <10% of the cells in a HNSCC tumor, but not the CD44(-) cancer cells, gave rise to new tumors in vivo. Immunohistochemistry revealed that the CD44(+) cancer cells have a primitive cellular morphology and costain with the basal cell marker Cytokeratin 5/14, whereas the CD44(-) cancer cells resemble differentiated squamous epithelium and express the differentiation marker Involucrin. The tumors that arose from purified CD44(+) cells reproduced the original tumor heterogeneity and could be serially passaged, thus demonstrating the two defining properties of stem cells: ability to self-renew and to differentiate. Furthermore, the tumorigenic CD44(+) cells differentially express the BMI1 gene, at both the RNA and protein levels. By immunohistochemical analysis, the CD44(+) cells in the tumor express high levels of nuclear BMI1, and are arrayed in characteristic tumor microdomains. BMI1 has been demonstrated to play a role in self-renewal in other stem cell types and to be involved in tumorigenesis. Taken together, these data demonstrate that cells within the CD44(+) population of human HNSCC possess the unique properties of cancer stem cells in functional assays for cancer stem cell self-renewal and differentiation and form unique histological microdomains that may aid in cancer diagnosis.",
"title": ""
},
{
"docid": "b0d9c5716052e9cfe9d61d20e5647c8c",
"text": "We propose Efficient Neural Architecture Search (ENAS), a faster and less expensive approach to automated model design than previous methods. In ENAS, a controller learns to discover neural network architectures by searching for an optimal path within a larger model. The controller is trained with policy gradient to select a path that maximizes the expected reward on the validation set. Meanwhile the model corresponding to the selected path is trained to minimize the cross entropy loss. On the Penn Treebank dataset, ENAS can discover a novel architecture thats achieves a test perplexity of 57.8, which is state-of-the-art among automatic model design methods on Penn Treebank. On the CIFAR-10 dataset, ENAS can design novel architectures that achieve a test error of 2.89%, close to the 2.65% achieved by standard NAS (Zoph et al., 2017). Most importantly, our experiments show that ENAS is more than 10x faster and 100x less resource-demanding than NAS.",
"title": ""
},
{
"docid": "bd9f01cad764a03f1e6cded149b9adbd",
"text": "Psycholinguistic research has shown that the influence of abstract syntactic knowledge on performance is shaped by particular sentences that have been experienced. To explore this idea, the authors applied a connectionist model of sentence production to the development and use of abstract syntax. The model makes use of (a) error-based learning to acquire and adapt sequencing mechanisms and (b) meaning-form mappings to derive syntactic representations. The model is able to account for most of what is known about structural priming in adult speakers, as well as key findings in preferential looking and elicited production studies of language acquisition. The model suggests how abstract knowledge and concrete experience are balanced in the development and use of syntax.",
"title": ""
},
{
"docid": "a47da93173c43eaa7d4b62f96b09be27",
"text": "Creating 3D maps on robots and other mobile devices has become a reality in recent years. Online 3D reconstruction enables many exciting applications in robotics and AR/VR gaming. However, the reconstructions are noisy and generally incomplete. Moreover, during online reconstruction, the surface changes with every newly integrated depth image which poses a significant challenge for physics engines and path planning algorithms. This paper presents a novel, fast and robust method for obtaining and using information about planar surfaces, such as walls, floors, and ceilings as a stage in 3D reconstruction based on Signed Distance Fields (SDFs). Our algorithm recovers clean and accurate surfaces, reduces the movement of individual mesh vertices caused by noise during online reconstruction and fills in the occluded and unobserved regions. We implemented and evaluated two different strategies to generate plane candidates and two strategies for merging them. Our implementation is optimized to run in real-time on mobile devices such as the Tango tablet. In an extensive set of experiments, we validated that our approach works well in a large number of natural environments despite the presence of significant amount of occlusion, clutter and noise, which occur frequently. We further show that plane fitting enables in many cases a meaningful semantic segmentation of real-world scenes.",
"title": ""
},
{
"docid": "065c12155991b38d36ec1e71cff60ce4",
"text": "The purpose of this chapter is to introduce, analyze, and compare the models of wheeled mobile robots (WMR) and to present several realizations and commonly encountered designs. The mobility of WMR is discussed on the basis of the kinematic constraints resulting from the pure rolling conditions at the contact points between the wheels and the ground. According to this discussion it is shown that, whatever the number and the types of the wheels, all WMR belong to only five generic classes. Different types of models are derived and compared: the posture model versus the configuration model, the kinematic model versus the dynamic model. The structural properties of these models are discussed and compared. These models as well as their properties constitute the background necessary for model-based control design. Practical robot structures are classified according to the number of wheels, and features are introduced focusing on commonly adopted designs. Omnimobile robots and articulated robots realizations are described in more detail.",
"title": ""
},
{
"docid": "21528ffae0a6e4bd4fe9acfce5660473",
"text": "Ultrasound image quality is related to the receive beamformer’s ability. Delay and sum (DAS), a conventional beamformer, is combined with the coherence factor (CF) technique to suppress side lobe levels. The purpose of this study is to improve these beamformer’s abilities. It has been shown that extension of the receive aperture can improve the receive beamformer’s ability in radar studies. This paper shows that the focusing quality of CF and CF+DAS in medical ultrasound can be increased by extension of the receive aperture’s length in phased synthetic aperture (PSA) imaging. The 3-dB width of the main lobe in the receive beam related to CF focusing decreased to 0.55 mm using the proposed PSA compared to the conventional phased array (PHA) imaging, whose FWHM is about 0.9 mm. The clutter-to-total-energy ratio (CTR) represented by R20 dB showed an improvement of 50 and 33% for CF and CF+DAS beamformers, respectively, with PSA as compared to PHA. In addition, simulation results validated the effectiveness of PSA versus PHA. In applications where there are no important limitations on the SNR, PSA imaging is recommended as it increases the ability of the receive beamformer for better focusing.",
"title": ""
}
] | scidocsrr |
7083fcf39daecbb9e4e1ef55b25e9f16 | Big data on cloud for government agencies: benefits, challenges, and solutions | [
{
"docid": "72944a6ad81c2802d0401f9e0c2d8bb5",
"text": "Available online 10 August 2016 Big Data (BD), with their potential to ascertain valued insights for enhanced decision-making process, have recently attracted substantial interest from both academics and practitioners. Big Data Analytics (BDA) is increasingly becoming a trending practice that many organizations are adopting with the purpose of constructing valuable information from BD. The analytics process, including the deployment and use of BDA tools, is seen by organizations as a tool to improve operational efficiency though it has strategic potential, drive new revenue streams and gain competitive advantages over business rivals. However, there are different types of analytic applications to consider. Therefore, prior to hasty use and buying costly BD tools, there is a need for organizations to first understand the BDA landscape. Given the significant nature of theBDandBDA, this paper presents a state-ofthe-art review that presents a holistic view of the BD challenges and BDA methods theorized/proposed/ employed by organizations to help others understand this landscape with the objective of making robust investment decisions. In doing so, systematically analysing and synthesizing the extant research published on BD and BDA area. More specifically, the authors seek to answer the following two principal questions: Q1 –What are the different types of BD challenges theorized/proposed/confronted by organizations? and Q2 – What are the different types of BDA methods theorized/proposed/employed to overcome BD challenges?. This systematic literature review (SLR) is carried out through observing and understanding the past trends and extant patterns/themes in the BDA research area, evaluating contributions, summarizing knowledge, thereby identifying limitations, implications and potential further research avenues to support the academic community in exploring research themes/patterns. Thus, to trace the implementation of BD strategies, a profiling method is employed to analyze articles (published in English-speaking peer-reviewed journals between 1996 and 2015) extracted from the Scopus database. The analysis presented in this paper has identified relevant BD research studies that have contributed both conceptually and empirically to the expansion and accrual of intellectual wealth to the BDA in technology and organizational resource management discipline. © 2016 The Authors. Published by Elsevier Inc. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).",
"title": ""
},
{
"docid": "03d5c8627ec09e4332edfa6842b6fe44",
"text": "In the same way businesses use big data to pursue profits, governments use it to promote the public good.",
"title": ""
}
] | [
{
"docid": "f4d514a95cc4444dc1cbfdc04737ec75",
"text": "Ultra-high speed data links such as 400GbE continuously push transceivers to achieve better performance and lower power consumption. This paper presents a highly parallelized TRX at 56Gb/s with integrated serializer/deserializer, FFE/CTLE/DFE, CDR, and eye-monitoring circuits. It achieves BER<10−12 under 24dB loss at 14GHz while dissipating 602mW of power.",
"title": ""
},
{
"docid": "d57072f4ffa05618ebf055824e7ae058",
"text": "Online social networks such as Friendster, MySpace, or the Facebook have experienced exponential growth in membership in recent years. These networks offer attractive means for interaction and communication, but also raise privacy and security concerns. In this study we survey a representative sample of the members of the Facebook (a social network for colleges and high schools) at a US academic institution, and compare the survey data to information retrieved from the network itself. We look for underlying demographic or behavioral differences between the communities of the network’s members and non-members; we analyze the impact of privacy concerns on members’ behavior; we compare members’ stated attitudes with actual behavior; and we document the changes in behavior subsequent to privacy-related information exposure. We find that an individual’s privacy concerns are only a weak predictor of his membership to the network. Also privacy concerned individuals join the network and reveal great amounts of personal information. Some manage their privacy concerns by trusting their ability to control the information they provide and the external access to it. However, we also find evidence of members’ misconceptions about the online community’s actual size and composition, and about the visibility of members’ profiles.",
"title": ""
},
{
"docid": "b074ba4ae329ffad0da3216dc84b22b9",
"text": "A recent research trend in Artificial Intelligence (AI) is the combination of several programs into one single, stronger, program; this is termed portfolio methods. We here investigate the application of such methods to Game Playing Programs (GPPs). In addition, we consider the case in which only one GPP is available by decomposing this single GPP into several ones through the use of parameters or even simply random seeds. These portfolio methods are trained in a learning phase. We propose two different offline approaches. The simplest one, BestArm, is a straightforward optimization of seeds or parameters; it performs quite well against the original GPP, but performs poorly against an opponent which repeats games and learns. The second one, namely Nash-portfolio, performs similarly in a “one game” test, and is much more robust against an opponent who learns. We also propose an online learning portfolio, which tests several of the GPP repeatedly and progressively switches to the best one using a bandit algorithm.",
"title": ""
},
{
"docid": "b99efb63e8016c7f5ab09e868ae894da",
"text": "The popular bag of words approach for action recognition is based on the classifying quantized local features density. This approach focuses excessively on the local features but discards all information about the interactions among them. Local features themselves may not be discriminative enough, but combined with their contexts, they can be very useful for the recognition of some actions. In this paper, we present a novel representation that captures contextual interactions between interest points, based on the density of all features observed in each interest point's mutliscale spatio-temporal contextual domain. We demonstrate that augmenting local features with our contextual feature significantly improves the recognition performance.",
"title": ""
},
{
"docid": "3bb1065dfc4e06fa35ef91e2c89d50d2",
"text": "Portable, accurate, and relatively inexpensive high-frequency vector network analyzers (VNAs) have great utility for a wide range of applications, encompassing microwave circuit characterization, reflectometry, imaging, material characterization, and nondestructive testing to name a few. To meet the rising demand for VNAs possessing the aforementioned attributes, we present a novel and simple VNA design based on a standing-wave probing device and an electronically controllable phase shifter. The phase shifter is inserted between a device under test (DUT) and a standing-wave probing device. The complex reflection coefficient of the DUT is then obtained from multiple standing-wave voltage measurements taken for several different values of the phase shift. The proposed VNA design eliminates the need for expensive heterodyne detection schemes required for tuned-receiver-based VNA designs. Compared with previously developed VNAs that operate based on performing multiple power measurements, the proposed VNA utilizes a single power detector without the need for multiport hybrid couplers. In this paper, the efficacy of the proposed VNA is demonstrated via numerical simulations and experimental measurements. For this purpose, measurements of various DUTs obtained using an X-band (8.2-12.4 GHz) prototype VNA are presented and compared with results obtained using an Agilent HP8510C VNA. The results show that the proposed VNA provides highly accurate vector measurements with typical errors on the order of 0.02 and 1° for magnitude and phase, respectively.",
"title": ""
},
{
"docid": "e37a93ff39840e1d6df589b415848a85",
"text": "In this paper we propose a stacked generalization (or stacking) model for event extraction in bio-medical text. Event extraction deals with the process of extracting detailed biological phenomenon, which is more challenging compared to the traditional binary relation extraction such as protein-protein interaction. The overall process consists of mainly three steps: event trigger detection, argument extraction by edge detection and finding correct combination of arguments. In stacking, we use Linear Support Vector Classification (Linear SVC), Logistic Regression (LR) and Stochastic Gradient Descent (SGD) as base-level learning algorithms. As meta-level learner we use Linear SVC. In edge detection step, we find out the arguments of triggers detected in trigger detection step using a SVM classifier. To find correct combination of arguments, we use rules generated by studying the properties of bio-molecular event expressions, and form an event expression consisting of event trigger, its class and arguments. The output of trigger detection is fed to edge detection for argument extraction. Experiments on benchmark datasets of BioNLP2011 show the recall, precision and Fscore of 48.96%, 66.46% and 56.38%, respectively. Comparisons with the existing systems show that our proposed model attains state-of-the-art performance.",
"title": ""
},
{
"docid": "4d585dd4d56dda31c2fb929a61aba5f8",
"text": "Growing greenhouse vegetables is one of the most exacting and intense forms of all agricultural enterprises. In combination with greenhouses, hydroponics is becoming increasingly popular, especially in the United States, Canada, western Europe, and Japan. It is high technology and capital intensive. It is highly productive, conservative of water and land and protective of the environment. For production of leafy vegetables and herbs, deep flow hydroponics is common. For growing row crops such as tomato, cucumber, and pepper, the two most popular artificial growing media are rockwool and perlite. Computers today operate hundreds of devices within a greenhouse by utilizing dozens of input parameters, to maintain the most desired growing environment. The technology of greenhouse food production is changing rapidly with systems today producing yields never before realized. The future for hydroponic/soilless cultured systems appears more positive today than any time over the last 50 years.",
"title": ""
},
{
"docid": "11c4d318abb6d2e838f74d2a6ae61415",
"text": "We propose a new framework for entity and event extraction based on generative adversarial imitation learning – an inverse reinforcement learning method using generative adversarial network (GAN). We assume that instances and labels yield to various extents of difficulty and the gains and penalties (rewards) are expected to be diverse. We utilize discriminators to estimate proper rewards according to the difference between the labels committed by ground-truth (expert) and the extractor (agent). Experiments also demonstrate that the proposed framework outperforms state-of-the-art methods.",
"title": ""
},
{
"docid": "5a3f65509a2acd678563cd495fe287de",
"text": "Auditory menus have the potential to make devices that use visual menus accessible to a wide range of users. Visually impaired users could especially benefit from the auditory feedback received during menu navigation. However, auditory menus are a relatively new concept, and there are very few guidelines that describe how to design them. This paper details how visual menu concepts may be applied to auditory menus in order to help develop design guidelines. Specifically, this set of studies examined possible ways of designing an auditory scrollbar for an auditory menu. The following different auditory scrollbar designs were evaluated: single-tone, double-tone, alphabetical grouping, and proportional grouping. Three different evaluations were conducted to determine the best design. The first two evaluations were conducted with sighted users, and the last evaluation was conducted with visually impaired users. The results suggest that pitch polarity does not matter, and proportional grouping is the best of the auditory scrollbar designs evaluated here.",
"title": ""
},
{
"docid": "4749d4153d09082d81b2b64f7954b9cd",
"text": " Background. Punctate or stippled cartilaginous calcifications are associated with many conditions, including chromosomal, infectious, endocrine, and teratogenic etiologies. Some of these conditions are clinically mild, while others are lethal. Accurate diagnosis can prove instrumental in clinical management and in genetic counseling. Objective. To describe the diagnostic radiographic features seen in Pacman dysplasia, a distinct autosomal recessive, lethal skeletal dysplasia. Materials and methods. We present the fourth reported case of Pacman dysplasia and compare the findings seen in our patient with the three previously described patients. Results. Invariable and variable radiographic findings were seen in all four cases of histologically proven Pacman dysplasia. Conclusion. Pacman dysplasia presents both constant and variable diagnostic radiographic features.",
"title": ""
},
{
"docid": "8a679c93185332398c5261ddcfe81e84",
"text": "We discuss the temporal-difference learning algorithm, as applied to approximating the cost-to-go function of an infinite-horizon discounted Markov chain, using a function approximator involving linear combinations of fixed basis functions. The algorithm we analyze performs on-line updating of a parameter vector during a single endless trajectory of an ergodic Markov chain with a finite or infinite state space. We present a proof of convergence (with probability 1), a characterization of the limit of convergence, and a bound on the resulting approximation error. In addition to proving new and stronger results than those previously available, our analysis is based on a new line of reasoning that provides new intuition about the dynamics of temporal-difference learning. Finally, we prove that on-line updates, based on entire trajectories of the Markov chain, are in a certain sense necessary for convergence. This fact reconciles positive and negative results that have been discussed in the literature, regarding the soundness of temporal-difference learning.",
"title": ""
},
{
"docid": "4248fb006221fbb74d565705dcbc5a7a",
"text": "Shot boundary detection (SBD) is an important and fundamental step in video content analysis such as content-based video indexing, browsing, and retrieval. In this paper, a hybrid SBD method is presented by integrating a high-level fuzzy Petri net (HLFPN) model with keypoint matching. The HLFPN model with histogram difference is executed as a predetection. Next, the speeded-up robust features (SURF) algorithm that is reliably robust to image affine transformation and illumination variation is used to figure out all possible false shots and the gradual transition based on the assumption from the HLFPN model. The top-down design can effectively lower down the computational complexity of SURF algorithm. The proposed approach has increased the precision of SBD and can be applied in different types of videos.",
"title": ""
},
{
"docid": "b9717a3ce0ed7245621314ba3e1ce251",
"text": "Analog beamforming with phased arrays is a promising technique for 5G wireless communication at millimeter wave frequencies. Using a discrete codebook consisting of multiple analog beams, each beam focuses on a certain range of angles of arrival or departure and corresponds to a set of fixed phase shifts across frequency due to practical hardware considerations. However, for sufficiently large bandwidth, the gain provided by the phased array is actually frequency dependent, which is an effect called beam squint, and this effect occurs even if the radiation pattern of the antenna elements is frequency independent. This paper examines the nature of beam squint for a uniform linear array (ULA) and analyzes its impact on codebook design as a function of the number of antennas and system bandwidth normalized by the carrier frequency. The criterion for codebook design is to guarantee that each beam's minimum gain for a range of angles and for all frequencies in the wideband system exceeds a target threshold, for example 3 dB below the array's maximum gain. Analysis and numerical examples suggest that a denser codebook is required to compensate for beam squint. For example, 54% more beams are needed compared to a codebook design that ignores beam squint for a ULA with 32 antennas operating at a carrier frequency of 73 GHz and bandwidth of 2.5 GHz. Furthermore, beam squint with this design criterion limits the bandwidth or the number of antennas of the array if the other one is fixed.",
"title": ""
},
{
"docid": "2d6d5c8b1ac843687db99ccf50a0baff",
"text": "This paper presents algorithms for fast segmentation of 3D point clouds and subsequent classification of the obtained 3D segments. The method jointly determines the ground surface and segments individual objects in 3D, including overhanging structures. When compared to six other terrain modelling techniques, this approach has minimal error between the sensed data and the representation; and is fast (processing a Velodyne scan in approximately 2 seconds). Applications include improved alignment of successive scans by enabling operations in sections (Velodyne scans are aligned 7% sharper compared to an approach using raw points) and more informed decision-making (paths move around overhangs). The use of segmentation to aid classification through 3D features, such as the Spin Image or the Spherical Harmonic Descriptor, is discussed and experimentally compared. Moreover, the segmentation facilitates a novel approach to 3D classification that bypasses feature extraction and directly compares 3D shapes via the ICP algorithm. This technique is shown to achieve accuracy on par with the best feature based classifier (92.1%) while being significantly faster and allowing a clearer understanding of the classifier’s behaviour.",
"title": ""
},
{
"docid": "61ba52f205c8b497062995498816b60f",
"text": "The past century experienced a proliferation of retail formats in the marketplace. However, as a new century begins, these retail formats are being threatened by the emergence of a new kind of store, the online or Internet store. From being almost a novelty in 1995, online retailing sales were expected to reach $7 billion by 2000 [9]. In this increasngly timeconstrained world, Internet stores allow consumers to shop from the convenience of remote locations. Yet most of these Internet stores are losing money [6]. Why is such counterintuitive phenomena prevailing? The explanation may lie in the risks associated with Internet shopping. These risks may arise because consumers are concerned about the security of transmitting credit card information over the Internet. Consumers may also be apprehensive about buying something without touching or feeling it and being unable to return it if it fails to meet their approval. Having said this, however, we must point out that consumers are buying goods on the Internet. This is reflected in the fact that total sales on the Internet are on the increase [8, 11]. Who are the consumers that are patronizing the Internet? Evidently, for them the perception of the risk associated with shopping on the Internet is low or is overshadowed by its relative convenience. This article attempts to determine why certain consumers are drawn to the Internet and why others are not. Since the pioneering research done by Becker [3], it has been accepted that the consumer maximizes his utility subject to not only income constraints but also time constraints. A consumer seeks out his best decision given that he has a limited budget of time and money. While purchasing a product from a store, a consumer has to expend both money and time. Therefore, the consumer patronizes the retail store where his total costs or the money and time spent in the entire process are the least. Since the util-",
"title": ""
},
{
"docid": "28cf177349095e7db4cdaf6c9c4a6cb1",
"text": "Neural Architecture Search aims at automatically finding neural architectures that are competitive with architectures designed by human experts. While recent approaches have achieved state-of-the-art predictive performance for image recognition, they are problematic under resource constraints for two reasons: (1) the neural architectures found are solely optimized for high predictive performance, without penalizing excessive resource consumption; (2) most architecture search methods require vast computational resources. We address the first shortcoming by proposing LEMONADE, an evolutionary algorithm for multi-objective architecture search that allows approximating the entire Pareto-front of architectures under multiple objectives, such as predictive performance and number of parameters, in a single run of the method. We address the second shortcoming by proposing a Lamarckian inheritance mechanism for LEMONADE which generates children networks that are warmstarted with the predictive performance of their trained parents. This is accomplished by using (approximate) network morphism operators for generating children. The combination of these two contributions allows finding models that are on par or even outperform both hand-crafted as well as automatically-designed networks.",
"title": ""
},
{
"docid": "8bb5a38908446ca4e6acb4d65c4c817c",
"text": "Column-oriented database systems have been a real game changer for the industry in recent years. Highly tuned and performant systems have evolved that provide users with the possibility of answering ad hoc queries over large datasets in an interactive manner. In this paper we present the column-oriented datastore developed as one of the central components of PowerDrill. It combines the advantages of columnar data layout with other known techniques (such as using composite range partitions) and extensive algorithmic engineering on key data structures. The main goal of the latter being to reduce the main memory footprint and to increase the efficiency in processing typical user queries. In this combination we achieve large speed-ups. These enable a highly interactive Web UI where it is common that a single mouse click leads to processing a trillion values in the underlying dataset.",
"title": ""
},
{
"docid": "4775bf71a5eea05b77cafa53daefcff9",
"text": "There is mounting empirical evidence that interacting with nature delivers measurable benefits to people. Reviews of this topic have generally focused on a specific type of benefit, been limited to a single discipline, or covered the benefits delivered from a particular type of interaction. Here we construct novel typologies of the settings, interactions and potential benefits of people-nature experiences, and use these to organise an assessment of the benefits of interacting with nature. We discover that evidence for the benefits of interacting with nature is geographically biased towards high latitudes and Western societies, potentially contributing to a focus on certain types of settings and benefits. Social scientists have been the most active researchers in this field. Contributions from ecologists are few in number, perhaps hindering the identification of key ecological features of the natural environment that deliver human benefits. Although many types of benefits have been studied, benefits to physical health, cognitive performance and psychological well-being have received much more attention than the social or spiritual benefits of interacting with nature, despite the potential for important consequences arising from the latter. The evidence for most benefits is correlational, and although there are several experimental studies, little as yet is known about the mechanisms that are important for delivering these benefits. For example, we do not know which characteristics of natural settings (e.g., biodiversity, level of disturbance, proximity, accessibility) are most important for triggering a beneficial interaction, and how these characteristics vary in importance among cultures, geographic regions and socio-economic groups. These are key directions for future research if we are to design landscapes that promote high quality interactions between people and nature in a rapidly urbanising world.",
"title": ""
},
{
"docid": "db158f806e56a1aae74aae15252703d2",
"text": "Despite achieving impressive performance, state-of-the-art classifiers remain highly vulnerable to small, imperceptible, adversarial perturbations. This vulnerability has proven empirically to be very intricate to address. In this paper, we study the phenomenon of adversarial perturbations under the assumption that the data is generated with a smooth generative model. We derive fundamental upper bounds on the robustness to perturbations of any classification function, and prove the existence of adversarial perturbations that transfer well across different classifiers with small risk. Our analysis of the robustness also provides insights onto key properties of generative models, such as their smoothness and dimensionality of latent space. We conclude with numerical experimental results showing that our bounds provide informative baselines to the maximal achievable robustness on several datasets.",
"title": ""
},
{
"docid": "4f7fbc3f313e68456e57a2d6d3c90cd0",
"text": "This survey paper describes a focused literature survey of machine learning (ML) and data mining (DM) methods for cyber analytics in support of intrusion detection. Short tutorial descriptions of each ML/DM method are provided. Based on the number of citations or the relevance of an emerging method, papers representing each method were identified, read, and summarized. Because data are so important in ML/DM approaches, some well-known cyber data sets used in ML/DM are described. The complexity of ML/DM algorithms is addressed, discussion of challenges for using ML/DM for cyber security is presented, and some recommendations on when to use a given method are provided.",
"title": ""
}
] | scidocsrr |
ec9bd79cc132faa21fed23c7ccd62a6a | Cross-Project Defect Prediction Using a Connectivity-Based Unsupervised Classifier | [
{
"docid": "1657df28bba01b18fb26bb8c823ad4b4",
"text": "Come with us to read a new book that is coming recently. Yeah, this is a new coming book that many people really want to read will you be one of them? Of course, you should be. It will not make you feel so hard to enjoy your life. Even some people think that reading is a hard to do, you must be sure that you can do it. Hard will be felt when you have no ideas about what kind of book to read. Or sometimes, your reading material is not interesting enough.",
"title": ""
}
] | [
{
"docid": "5355add24920dbfec7335c27102d00c4",
"text": "The aim of the present study was to examine further the role that self-identity plays in the theory of planned behaviour and, more specifically, to: (1) examine the combined effects of self-identity and social identity constructs on intention and behaviour, and (2) examine the effects of self-identity as a function of past experience of performing the behaviour. The study was concerned with the prediction of intention to engage in household recycling and reported recycling behaviour. A sample of 143 community residents participated in the study. It was prospective in design: measures of the predictors and intention were obtained at the first wave of data collection, whereas behaviour was assessed two weeks later. Self-identity significantly predicted behavioural intention, a relationship that was not dependent on the extent to which the behaviour had been performed in the past. As expected, there was also evidence that the perceived norm of a behaviourally relevant reference group was related to behavioural intention, but only for participants who identified strongly with the group, whereas the relationship between perceived behavioural control (a personal factor) and intention was strongest for low identifiers.",
"title": ""
},
{
"docid": "fc08c706567d10686fc2208ae329f969",
"text": "Object technology is believed to be crucial in achieving the long sought-after goal of widespread reuse. This goal is the most frequently stated reason for adopting OT. Unfortunately, many people naively equate reuse with objects, expecting it to “automatically” ensure reuse, but often do not get much reuse. Based on my experience with reuse at HP, Objectory and Rational, and with many customers, I know that without extensive changes to support component-based development and systematic reuse, OT as used today will not succeed in giving users reuse. Without an explicit reuse agenda, and a systematic approach to the design and use of reusable components and frameworks, 00 reuse will not succeed. In almost all cases of successful reuse, architecture, a dedicated component development and support group, management support, and a stable domain were the keys to success. These largely non-technical issues seem to be more important to successful reuse than the specific language or design chosen.",
"title": ""
},
{
"docid": "6dd440495dacfa43e1926fcdaa063aab",
"text": "In this paper we revise the state of the art on personality-aware recommender systems, identifying main research trends and achievements up to date, and discussing open issues that may be addressed in the future.",
"title": ""
},
{
"docid": "2df316f30952ffdb4da1e9797b9658bb",
"text": "Breast cancer is a leading disease worldwide, and the success of medical therapies is heavily related to the availability of breast cancer imaging techniques. While current methods, mainly ultrasound, x-ray mammography, and magnetic resonance imaging, all exhibit some disadvantages, a possible alternative investigated in recent years is based on microwave and mm-wave imaging system. A key point for these systems is their reliability in terms of safety, in particular exposure limits. This paper presents a feasibility study for a mm-wave breast cancer imaging system, with the aim of ensuring safety and compliance with the widely adopted European ICNIRP recommendations. The study is based on finite element method models of human tissues, experimentally characterized by measures obtained at one of the most important European clinical center for cancer treatments. Results prove the feasibility of the system, which can meet the exposure limits while providing the required dynamic range to let the receiver detect the cancer anomaly. In addition, the dosimetric quantities used at the present and their maximum limits at mm-waves are taking into discussion and the possibility of needing moderns quantities and limitations is discussed.",
"title": ""
},
{
"docid": "8108c37cc3f3160c78252fcfbeb8d2f2",
"text": "It is well understood that the pancreas has two distinct roles: the endocrine and exocrine functions, that are functionally and anatomically closely related. As specialists in diabetes care, we are adept at managing pancreatic endocrine failure and its associated complications. However, there is frequent overlap and many patients with diabetes also suffer from exocrine insufficiency. Here we outline the different causes of exocrine failure, and in particular that associated with type 1 and type 2 diabetes and how this differs from diabetes that is caused by pancreatic exocrine disease: type 3c diabetes. Copyright © 2017 John Wiley & Sons. Practical Diabetes 2017; 34(6): 200–204",
"title": ""
},
{
"docid": "69d7ec6fe0f847cebe3d1d0ae721c950",
"text": "Circularly polarized (CP) dielectric resonator antenna (DRA) subarrays have been numerically studied and experimentally verified. Elliptical CP DRA is used as the antenna element, which is excited by either a narrow slot or a probe. The elements are arranged in a 2 by 2 subarray configuration and are excited sequentially. In order to optimize the CP bandwidth, wideband feeding networks have been designed. Three different types of feeding network are studied; they are parallel feeding network, series feeding network and hybrid ring feeding network. For the CP DRA subarray with hybrid ring feeding network, the impedance matching bandwidth (S11<-10 dB) and 3-dB AR bandwidth achieved are 44% and 26% respectively",
"title": ""
},
{
"docid": "8e3b1f49ca8a5afe20a9b66e0088a56a",
"text": "Describing the contents of images is a challenging task for machines to achieve. It requires not only accurate recognition of objects and humans, but also their attributes and relationships as well as scene information. It would be even more challenging to extend this process to identify falls and hazardous objects to aid elderly or users in need of care. This research makes initial attempts to deal with the above challenges to produce multi-sentence natural language description of image contents. It employs a local region based approach to extract regional image details and combines multiple techniques including deep learning and attribute learning through the use of machine learned features to create high level labels that can generate detailed description of real-world images. The system contains the core functions of scene classification, object detection and classification, attribute learning, relationship detection and sentence generation. We have also further extended this process to deal with open-ended fall detection and hazard identification. In comparison to state-of-the-art related research, our system shows superior robustness and flexibility in dealing with test images from new, unrelated domains, which poses great challenges to many existing methods. Our system is evaluated on a subset from Flickr8k and Pascal VOC 2012 and achieves an impressive average BLEU score of 46 and outperforms related research by a significant margin of 10 BLEU score when evaluated with a small dataset of images containing falls and hazardous objects. It also shows impressive performance when evaluated using a subset of IAPR TC-12 dataset.",
"title": ""
},
{
"docid": "012bcbc6b5e7b8aaafd03f100489961c",
"text": "DNA is an attractive medium to store digital information. Here we report a storage strategy, called DNA Fountain, that is highly robust and approaches the information capacity per nucleotide. Using our approach, we stored a full computer operating system, movie, and other files with a total of 2.14 × 106 bytes in DNA oligonucleotides and perfectly retrieved the information from a sequencing coverage equivalent to a single tile of Illumina sequencing. We also tested a process that can allow 2.18 × 1015 retrievals using the original DNA sample and were able to perfectly decode the data. Finally, we explored the limit of our architecture in terms of bytes per molecule and obtained a perfect retrieval from a density of 215 petabytes per gram of DNA, orders of magnitude higher than previous reports.",
"title": ""
},
{
"docid": "379407880b47b82db77dbfa8c2941e04",
"text": "The revolutionary advancement in Information and Communication Technologies (“ICT”) has intrinsically altered the scale on which human affairs take place; it has fostered an interdependence of local, national, and international communities that is far greater than any previously experienced. The most significant feature of this technological revolution is the invention of the Internet: this network of interactive and global communications complex that has resulted in a compression of space and time, transmogrified the classic models of commercial interaction, business, and economic paradigms, and reshaped our lives and communities accordingly.",
"title": ""
},
{
"docid": "380fdee23bebf16b05ce7caebd6edac4",
"text": "Automatic detection of emotions has been evaluated using standard Mel-frequency Cepstral Coefficients, MFCCs, and a variant, MFCC-low, calculated between 20 and 300 Hz, in order to model pitch. Also plain pitch features have been used. These acoustic features have all been modeled by Gaussian mixture models, GMMs, on the frame level. The method has been tested on two different corpora and languages; Swedish voice controlled telephone services and English meetings. The results indicate that using GMMs on the frame level is a feasible technique for emotion classification. The two MFCC methods have similar performance, and MFCC-low outperforms the pitch features. Combining the three classifiers significantly improves performance.",
"title": ""
},
{
"docid": "b81d07c26f8c28527c08fe8aeaffbdd8",
"text": "Remote keyless-entry systems are systems that are widely used to control access to vehicles or buildings. The system is increasingly secured against hacking attacks by use of encryption and code algorithms. However, there are effective hacker attacks that rely on jamming the wireless link from the key fob to the receiver, while the attacker is able to receive the signal from the key fob. In this paper, we show that typical envelope receivers that are often used in remote keyless-entry systems are highly vulnerable to pulsed interference as compared to continuous interference. The effects of pulsed interference on envelope detectors are analyzed through both simulations and measurements. An improved receiver design would use synchronous receivers instead, which are not very sensitive against pulsed interference.",
"title": ""
},
{
"docid": "c32d28b173df9f6fbbe33e6843338007",
"text": "A coflow is a collection of related parallel flows that occur typically between two stages of a multi-stage compute task in a network, such as shuffle flows in MapReduce. The coflow abstraction allows applications to convey their semantics to the network so that application-level requirements (e.g., minimizing the completion time of the slowest flow) can be better satisfied. In this paper, we study the routing and scheduling of multiple coflows to minimize the average coflow completion time (CCT). We first propose a rounding-based randomized approximation algorithm, called OneCoflow, for single coflow routing and scheduling. The multiple coflow problem is more challenging as coexisting coflows will compete for the same network resources such as link bandwidths. To minimize the average CCT, we derive an online multiple coflow routing and scheduling algorithm, called OMCoflow, and prove that it has a reasonably good competitive ratio. To the best of our knowledge, this is the first online algorithm with theoretical performance guarantees which considers routing and scheduling simultaneously for multi-coflows. Compared with existing methods, OMCoflow runs more efficiently, and it avoids the problem of frequently rerouting the flows. Extensive simulations on a Facebook data trace show that OMCoflow outperforms the state-of-the-art heuristic schemes significantly (e.g., reducing the average CCT by up to 41.8% and the execution time by up to 99.2% against RAPIER [28]).",
"title": ""
},
{
"docid": "fa1025c86ce9fce67ee148b7a37975da",
"text": "Context-aware Web services are emerging as a promising technology for the electronic businesses in mobile and pervasive environments. Unfortunately, complex context-aware services are still hard to build. In this paper, we present a modeling language for the model-driven development of context-aware Web services based on the Unified Modeling Language (UML). Specifically, we show how UML can be used to specify information related to the design of context-aware services. We present the abstract syntax and notation of the language and illustrate its usage using an example service. Our language offers significant design flexibility that considerably simplifies the development of context-aware Web services.",
"title": ""
},
{
"docid": "6690a10450f54d1efca733707b601536",
"text": "BACKGROUND\nEstuaries are among the most productive habitats on the planet. Bacteria in estuary sediments control the turnover of organic carbon and the cycling of nitrogen and sulfur. These communities are complex and primarily made up of uncultured lineages, thus little is known about how ecological and metabolic processes are partitioned in sediments.\n\n\nRESULTS\nDe novo assembly and binning resulted in the reconstruction of 82 bacterial genomes from different redox regimes of estuary sediments. These genomes belong to 23 bacterial groups, including uncultured candidate phyla (for example, KSB1, TA06, and KD3-62) and three newly described phyla (White Oak River (WOR)-1, WOR-2, and WOR-3). The uncultured phyla are generally most abundant in the sulfate-methane transition (SMTZ) and methane-rich zones, and genomic data predict that they mediate essential biogeochemical processes of the estuarine environment, including organic carbon degradation and fermentation. Among the most abundant organisms in the sulfate-rich layer are novel Gammaproteobacteria that have genes for the oxidation of sulfur and the reduction of nitrate and nitrite. Interestingly, the terminal steps of denitrification (NO3 to N2O and then N2O to N2) are present in distinct bacterial populations.\n\n\nCONCLUSIONS\nThis dataset extends our knowledge of the metabolic potential of several uncultured phyla. Within the sediments, there is redundancy in the genomic potential in different lineages, often distinct phyla, for essential biogeochemical processes. We were able to chart the flow of carbon and nutrients through the multiple geochemical layers of bacterial processing and reveal potential ecological interactions within the communities.",
"title": ""
},
{
"docid": "c41038d0e3cf34e8a1dcba07a86cce9a",
"text": "Alzheimer's disease (AD) is a major neurodegenerative disease and is one of the most common cause of dementia in older adults. Among several factors, neuroinflammation is known to play a critical role in the pathogenesis of chronic neurodegenerative diseases. In particular, studies of brains affected by AD show a clear involvement of several inflammatory pathways. Furthermore, depending on the brain regions affected by the disease, the nature and the effect of inflammation can vary. Here, in order to shed more light on distinct and common features of inflammation in different brain regions affected by AD, we employed a computational approach to analyze gene expression data of six site-specific neuronal populations from AD patients. Our network based computational approach is driven by the concept that a sustained inflammatory environment could result in neurotoxicity leading to the disease. Thus, our method aims to infer intracellular signaling pathways/networks that are likely to be constantly activated or inhibited due to persistent inflammatory conditions. The computational analysis identified several inflammatory mediators, such as tumor necrosis factor alpha (TNF-a)-associated pathway, as key upstream receptors/ligands that are likely to transmit sustained inflammatory signals. Further, the analysis revealed that several inflammatory mediators were mainly region specific with few commonalities across different brain regions. Taken together, our results show that our integrative approach aids identification of inflammation-related signaling pathways that could be responsible for the onset or the progression of AD and can be applied to study other neurodegenerative diseases. Furthermore, such computational approaches can enable the translation of clinical omics data toward the development of novel therapeutic strategies for neurodegenerative diseases.",
"title": ""
},
{
"docid": "bd1cc759e636f8bf6828e758c27a0ca5",
"text": "Although personalised nutrition is frequently considered in the context of diet-gene interactions, increasingly, personalised nutrition is seen to exist at three levels. The first is personalised dietary advice using Internet-delivered services, which ultimately will become automated and which will also draw on mobile phone technology. The second level of personalised dietary advice will include phenotypic information on anthropometry, physical activity, clinical parameters and biochemical markers of nutritional status. It remains possible that in addition to personalised dietary advice based on phenotypic data, advice at that group or metabotype level may be offered where metabotypes are defined by a common metabolic profile. The third level of personalised nutrition will involve the use of genomic data. While the genomic aspect of personalised nutrition is often considered as its main driver, there are significant challenges to translation of data on SNP and diet into personalised advice. The majority of the published data on SNP and diet emanate from observational studies and as such do not offer any cause-effect associations. To achieve this, purpose-designed dietary intervention studies will be needed with subjects recruited according to their genotype. Extensive research indicates that consumers would welcome personalised dietary advice including dietary advice based on their genotype. Unlike personalised medicine where genotype data are linked to the risk of developing a disease, in personalised nutrition the genetic data relate to the optimal diet for a given genotype to reduce disease risk factors and thus there are few ethical and legal issues in personalised nutrition.",
"title": ""
},
{
"docid": "5d91cf986b61bf095c04b68da2bb83d3",
"text": "The adeno-associated virus (AAV) vector has been used in preclinical and clinical trials of gene therapy for central nervous system (CNS) diseases. One of the biggest challenges of effectively delivering AAV to the brain is to surmount the blood-brain barrier (BBB). Herein, we identified several potential BBB shuttle peptides that significantly enhanced AAV8 transduction in the brain after a systemic administration, the best of which was the THR peptide. The enhancement of AAV8 brain transduction by THR is dose-dependent, and neurons are the primary THR targets. Mechanism studies revealed that THR directly bound to the AAV8 virion, increasing its ability to cross the endothelial cell barrier. Further experiments showed that binding of THR to the AAV virion did not interfere with AAV8 infection biology, and that THR competitively blocked transferrin from binding to AAV8. Taken together, our results demonstrate, for the first time, that BBB shuttle peptides are able to directly interact with AAV and increase the ability of the AAV vectors to cross the BBB for transduction enhancement in the brain. These results will shed important light on the potential applications of BBB shuttle peptides for enhancing brain transduction with systemic administration of AAV vectors.",
"title": ""
},
{
"docid": "b0133ea142da1d4f2612407d4d8bf6c0",
"text": "The ability to transfer knowledge gained in previous tasks into new contexts is one of the most important mechanisms of human learning. Despite this, adapting autonomous behavior to be reused in partially similar settings is still an open problem in current robotics research. In this paper, we take a small step in this direction and propose a generic framework for learning transferable motion policies. Our goal is to solve a learning problem in a target domain by utilizing the training data in a different but related source domain. We present this in the context of an autonomous MAV flight using monocular reactive control, and demonstrate the efficacy of our proposed approach through extensive real-world flight experiments in outdoor cluttered environments.",
"title": ""
},
{
"docid": "690c27afb23df9778af47ddcbcfea48d",
"text": "Introduction Origanum vulgare (the scientific name of oregano) has been studied in depth due to a number of interesting and exciting potential clinical uses. There is also an ongoing interest in a number of industries to replace synthetic chemicals with natural products that have similar properties. Many bioactive compounds can be found in aromatic plants, and there are a number of different ways they can be extracted. In one study, the major components of oregano essential oils were found to be carvacrol, beta-fenchyl alcohol, thymol, and gamma-terpinene.[1] A hot-water extraction was found to be the best method of extracting antioxidant properties and provided the highest phenolic content. This study also tested the oregano extracts against seven bacterial cultures, but they were ineffective. However, the essential oil itself was able to inhibit the growth of all bacteria, causing greater reductions on both Listeria strains that were tested.",
"title": ""
},
{
"docid": "9b3db8c2632ad79dc8e20435a81ef2a1",
"text": "Social networks have changed the way information is delivered to the customers, shifting from traditional one-to-many to one-to-one communication. Opinion mining and sentiment analysis offer the possibility to understand the user-generated comments and explain how a certain product or a brand is perceived. Classification of different types of content is the first step towards understanding the conversation on the social media platforms. Our study analyses the content shared on Facebook in terms of topics, categories and shared sentiment for the domain of a sponsored Facebook brand page. Our results indicate that Product, Sales and Brand are the three most discussed topics, while Requests and Suggestions, Expressing Affect and Sharing are the most common intentions for participation. We discuss the implications of our findings for social media marketing and opinion mining.",
"title": ""
}
] | scidocsrr |
0a8ffc3e525a9e15863c7e0d84c7a2d0 | SPECTRAL BASIS NEURAL NETWORKS FOR REAL-TIME TRAVEL TIME FORECASTING | [
{
"docid": "727a97b993098aa1386e5bfb11a99d4b",
"text": "Inevitably, reading is one of the requirements to be undergone. To improve the performance and quality, someone needs to have something new every day. It will suggest you to have more inspirations, then. However, the needs of inspirations will make you searching for some sources. Even from the other people experience, internet, and many books. Books and internet are the recommended media to help you improving your quality and performance.",
"title": ""
},
{
"docid": "8b1b0ee79538a1f445636b0798a0c7ca",
"text": "Much of the current activity in the area of intelligent vehicle-highway systems (IVHS) focuses on one simple objective: to collect more data. Clearly, improvements in sensor technology and communication systems will allow transportation agencies to more closely monitor the condition of the surface transportation system. However, monitoring alone cannot improve the safety or efficiency of the system. It is imperative that surveillance data be used to manage the system in a proactive rather than a reactive manner. 'Proactive traffic management will require the ability to predict traffic conditions. Previous predictive modeling approaches can be grouped into three categories: (a) historical, data-based algorithms; (b) time-series models; and (c) simulations. A relatively new mathematical model, the neural network, offers an attractive alternative because neural networks can model undefined, complex nonlinear surfaces. In a comparison of a backpropagation neural network model with the more traditional approaches of an historical, data-based algorithm and a time-series model, the backpropagation model· was clearly superior, although all three models did an adequate job of predicting future traffic volumes. The backpropagation model was more responsive to dynamic conditions than the historical, data-based algorithm, and it did not experience the lag and overprediction characteristics of the time-series model. Given these advantages and the backpropagation model's ability to run in a parallel computing environment, it appears that such neural network prediction models hold considerable potential for use in real-time IVHS applications.",
"title": ""
}
] | [
{
"docid": "b01b7d382f534812f07faaaa1442b3f9",
"text": "In this paper, we first establish new relationships in matrix forms among discrete Fourier transform (DFT), generalized DFT (GDFT), and various types of discrete cosine transform (DCT) and discrete sine transform (DST) matrices. Two new independent tridiagonal commuting matrices for each of DCT and DST matrices of types I, IV, V, and VIII are then derived from the existing commuting matrices of DFT and GDFT. With these new commuting matrices, the orthonormal sets of Hermite-like eigenvectors for DCT and DST matrices can be determined and the discrete fractional cosine transform (DFRCT) and the discrete fractional sine transform (DFRST) are defined. The relationships among the discrete fractional Fourier transform (DFRFT), fractional GDFT, and various types of DFRCT and DFRST are developed to reduce computations for DFRFT and fractional GDFT.",
"title": ""
},
{
"docid": "d60fb42ca7082289c907c0e2e2c343fc",
"text": "As mentioned in the paper, the direct optimization of group assignment variables with reduced gradients yields faster convergence than optimization via softmax reparametrization. Figure 1 shows the distribution plots, which are provided by TensorFlow, of class-to-group assignments using two methods. Despite starting with lower variance, when the distribution of group assignment variables diverged to",
"title": ""
},
{
"docid": "7380419cc9c5eac99e8d46e73df78285",
"text": "This paper discusses the classification of books purely based on cover image and title, without prior knowledge or context of author and origin. Several methods were implemented to assess the ability to distinguish books based on only these two characteristics. First we used a color-based distribution approach. Then we implemented transfer learning with convolutional neural networks on the cover image along with natural language processing on the title text. We found that image and text modalities yielded similar accuracy which indicate that we have reached a certain threshold in distinguishing between the genres that we have defined. This was confirmed by the accuracy being quite close to the human oracle accuracy.",
"title": ""
},
{
"docid": "793d41551a918a113f52481ff3df087e",
"text": "In this paper, we propose a novel deep captioning framework called Attention-based multimodal recurrent neural network with Visual Concept Transfer Mechanism (A-VCTM). There are three advantages of the proposed A-VCTM. (1) A multimodal layer is used to integrate the visual representation and context representation together, building a bridge that connects context information with visual information directly. (2) An attention mechanism is introduced to lead the model to focus on the regions corresponding to the next word to be generated (3) We propose a visual concept transfer mechanism to generate novel visual concepts and enrich the description sentences. Qualitative and quantitative results on two standard benchmarks, MSCOCO and Flickr30K show the effectiveness and practicability of the proposed A-VCTM framework.",
"title": ""
},
{
"docid": "8c0d117602ecadee24215f5529e527c6",
"text": "We present the first open-set language identification experiments using one-class classification models. We first highlight the shortcomings of traditional feature extraction methods and propose a hashing-based feature vectorization approach as a solution. Using a dataset of 10 languages from different writing systems, we train a One-Class Support Vector Machine using only a monolingual corpus for each language. Each model is evaluated against a test set of data from all 10 languages and we achieve an average F-score of 0.99, demonstrating the effectiveness of this approach for open-set language identification.",
"title": ""
},
{
"docid": "478aa46b9dafbc111c1ff2cdb03a5a77",
"text": "This paper presents results from recent work using structured light laser profile imaging to create high resolution bathymetric maps of underwater archaeological sites. Documenting the texture and structure of submerged sites is a difficult task and many applicable acoustic and photographic mapping techniques have recently emerged. This effort was completed to evaluate laser profile imaging in comparison to stereo imaging and high frequency multibeam mapping. A ROV mounted camera and inclined 532 nm sheet laser were used to create profiles of the bottom that were then merged into maps using platform navigation data. These initial results show very promising resolution in comparison to multibeam and stereo reconstructions, particularly in low contrast scenes. At the test sites shown here there were no significant complications related to scattering or attenuation of the laser sheet by the water. The resulting terrain was gridded at 0.25 cm and shows overall centimeter level definition. The largest source of error was related to the calibration of the laser and camera geometry. Results from three small areas show the highest resolution 3D models of a submerged archaeological site to date and demonstrate that laser imaging will be a viable method for accurate three dimensional site mapping and documentation.",
"title": ""
},
{
"docid": "2876086e4431e8607d5146f14f0c29dc",
"text": "Vascular ultrasonography has an important role in the diagnosis and management of venous disease. The venous system, however, is more complex and variable compared to the arterial system due to its frequent anatomical variations. This often becomes quite challenging for sonographers. This paper discusses the anatomy of the long saphenous vein and its anatomical variations accompanied by sonograms and illustrations.",
"title": ""
},
{
"docid": "d362b36e0c971c43856a07b7af9055f3",
"text": "s (New York: ACM), pp. 1617 – 20. MASLOW, A.H., 1954,Motivation and personality (New York: Harper). MCDONAGH, D., HEKKERT, P., VAN ERP, J. and GYI, D. (Eds), 2003, Design and Emotion: The Experience of Everyday Things (London: Taylor & Francis). MILLARD, N., HOLE, L. and CROWLE, S., 1999, Smiling through: motivation at the user interface. In Proceedings of the HCI International’99, Volume 2 (pp. 824 – 8) (Mahwah, NJ, London: Lawrence Erlbaum Associates). NORMAN, D., 2004a, Emotional design: Why we love (or hate) everyday things (New York: Basic Books). NORMAN, D., 2004b, Introduction to this special section on beauty, goodness, and usability. Human Computer Interaction, 19, pp. 311 – 18. OVERBEEKE, C.J., DJAJADININGRAT, J.P., HUMMELS, C.C.M. and WENSVEEN, S.A.G., 2002, Beauty in Usability: Forget about ease of use! In Pleasure with products: Beyond usability, W. Green and P. Jordan (Eds), pp. 9 – 18 (London: Taylor & Francis). 96 M. Hassenzahl and N. Tractinsky D ow nl oa de d by [ M as se y U ni ve rs ity L ib ra ry ] at 2 1: 34 2 3 Ju ly 2 01 1 PICARD, R., 1997, Affective computing (Cambridge, MA: MIT Press). PICARD, R. and KLEIN, J., 2002, Computers that recognise and respond to user emotion: theoretical and practical implications. Interacting with Computers, 14, pp. 141 – 69. POSTREL, V., 2002, The substance of style (New York: Harper Collins). SELIGMAN, M.E.P. and CSIKSZENTMIHALYI, M., 2000, Positive Psychology: An Introduction. American Psychologist, 55, pp. 5 – 14. SHELDON, K.M., ELLIOT, A.J., KIM, Y. and KASSER, T., 2001, What is satisfying about satisfying events? Testing 10 candidate psychological needs. Journal of Personality and Social Psychology, 80, pp. 325 – 39. SINGH, S.N. and DALAL, N.P., 1999, Web home pages as advertisements. Communications of the ACM, 42, pp. 91 – 8. SUH, E., DIENER, E. and FUJITA, F., 1996, Events and subjective well-being: Only recent events matter. Journal of Personality and Social Psychology,",
"title": ""
},
{
"docid": "47ac4b546fe75f2556a879d6188d4440",
"text": "There is great interest in exploiting the opportunity provided by cloud computing platforms for large-scale analytics. Among these platforms, Apache Spark is growing in popularity for machine learning and graph analytics. Developing efficient complex analytics in Spark requires deep understanding of both the algorithm at hand and the Spark API or subsystem APIs (e.g., Spark SQL, GraphX). Our BigDatalog system addresses the problem by providing concise declarative specification of complex queries amenable to efficient evaluation. Towards this goal, we propose compilation and optimization techniques that tackle the important problem of efficiently supporting recursion in Spark. We perform an experimental comparison with other state-of-the-art large-scale Datalog systems and verify the efficacy of our techniques and effectiveness of Spark in supporting Datalog-based analytics.",
"title": ""
},
{
"docid": "587f1510411636090bc192b1b9219b58",
"text": "Creativity can be considered one of the key competencies for the twenty-first century. It provides us with the capacity to deal with the opportunities and challenges that are part of our complex and fast-changing world. The question as to what facilitates creative cognition-the ability to come up with creative ideas, problem solutions and products-is as old as the human sciences, and various means to enhance creative cognition have been studied. Despite earlier scientific studies demonstrating a beneficial effect of music on cognition, the effect of music listening on creative cognition has remained largely unexplored. The current study experimentally tests whether listening to specific types of music (four classical music excerpts systematically varying on valance and arousal), as compared to a silence control condition, facilitates divergent and convergent creativity. Creativity was higher for participants who listened to 'happy music' (i.e., classical music high on arousal and positive mood) while performing the divergent creativity task, than for participants who performed the task in silence. No effect of music was found for convergent creativity. In addition to the scientific contribution, the current findings may have important practical implications. Music listening can be easily integrated into daily life and may provide an innovative means to facilitate creative cognition in an efficient way in various scientific, educational and organizational settings when creative thinking is needed.",
"title": ""
},
{
"docid": "cdf2235bea299131929700406792452c",
"text": "Real-time detection of traffic signs, the task of pinpointing a traffic sign's location in natural images, is a challenging computer vision task of high industrial relevance. Various algorithms have been proposed, and advanced driver assistance systems supporting detection and recognition of traffic signs have reached the market. Despite the many competing approaches, there is no clear consensus on what the state-of-the-art in this field is. This can be accounted to the lack of comprehensive, unbiased comparisons of those methods. We aim at closing this gap by the “German Traffic Sign Detection Benchmark” presented as a competition at IJCNN 2013 (International Joint Conference on Neural Networks). We introduce a real-world benchmark data set for traffic sign detection together with carefully chosen evaluation metrics, baseline results, and a web-interface for comparing approaches. In our evaluation, we separate sign detection from classification, but still measure the performance on relevant categories of signs to allow for benchmarking specialized solutions. The considered baseline algorithms represent some of the most popular detection approaches such as the Viola-Jones detector based on Haar features and a linear classifier relying on HOG descriptors. Further, a recently proposed problem-specific algorithm exploiting shape and color in a model-based Houghlike voting scheme is evaluated. Finally, we present the best-performing algorithms of the IJCNN competition.",
"title": ""
},
{
"docid": "e33d34d0fbc19dbee009134368e40758",
"text": "Quantum metrology exploits quantum phenomena to improve the measurement sensitivity. Theoretical analysis shows that quantum measurement can break through the standard quantum limits and reach super sensitivity level. Quantum radar systems based on quantum measurement can fufill not only conventional target detection and recognition tasks but also capable of detecting and identifying the RF stealth platform and weapons systems. The theoretical basis, classification, physical realization of quantum radar is discussed comprehensively in this paper. And the technology state and open questions of quantum radars is reviewed at the end.",
"title": ""
},
{
"docid": "06b4bfebe295e3dceadef1a842b2e898",
"text": "Constant changes in the economic environment, where globalization and the development of the knowledge economy act as drivers, are systematically pushing companies towards the challenge of accessing external markets. Web localization constitutes a new field of study and professional intervention. From the translation perspective, localization equates to the website being adjusted to the typological, discursive and genre conventions of the target culture, adapting that website to a different language and culture. This entails much more than simply translating the content of the pages. The content of a webpage is made up of text, images and other multimedia elements, all of which have to be translated and subjected to cultural adaptation. A case study has been carried out to analyze the current presence of localization within Spanish SMEs from the chemical sector. Two types of indicator have been established for evaluating the sample: indicators for evaluating company websites (with a Likert scale from 0–4) and indicators for evaluating web localization (0–2 scale). The results show overall website quality is acceptable (2.5 points out of 4). The higher rating has been obtained by the system quality (with 2.9), followed by information quality (2.7 points) and, lastly, service quality (1.9 points). In the web localization evaluation, the contact information aspects obtain 1.4 points, the visual aspect 1.04, and the navigation aspect was the worse considered (0.37). These types of analysis facilitate the establishment of practical recommendations aimed at SMEs in order to increase their international presence through the localization of their websites.",
"title": ""
},
{
"docid": "3cae5c0440536b95cf1d0273071ad046",
"text": "Android platform adopts permissions to protect sensitive resources from untrusted apps. However, after permissions are granted by users at install time, apps could use these permissions (sensitive resources) with no further restrictions. Thus, recent years have witnessed the explosion of undesirable behaviors in Android apps. An important part in the defense is the accurate analysis of Android apps. However, traditional syscall-based analysis techniques are not well-suited for Android, because they could not capture critical interactions between the application and the Android system.\n This paper presents VetDroid, a dynamic analysis platform for reconstructing sensitive behaviors in Android apps from a novel permission use perspective. VetDroid features a systematic framework to effectively construct permission use behaviors, i.e., how applications use permissions to access (sensitive) system resources, and how these acquired permission-sensitive resources are further utilized by the application. With permission use behaviors, security analysts can easily examine the internal sensitive behaviors of an app. Using real-world Android malware, we show that VetDroid can clearly reconstruct fine-grained malicious behaviors to ease malware analysis. We further apply VetDroid to 1,249 top free apps in Google Play. VetDroid can assist in finding more information leaks than TaintDroid, a state-of-the-art technique. In addition, we show how we can use VetDroid to analyze fine-grained causes of information leaks that TaintDroid cannot reveal. Finally, we show that VetDroid can help identify subtle vulnerabilities in some (top free) applications otherwise hard to detect.",
"title": ""
},
{
"docid": "48a8cfc2ac8c8c63bbd15aba5a830ef9",
"text": "We extend prior research on masquerade detection using UNIX commands issued by users as the audit source. Previous studies using multi-class training requires gathering data from multiple users to train specific profiles of self and non-self for each user. Oneclass training uses data representative of only one user. We apply one-class Naïve Bayes using both the multivariate Bernoulli model and the Multinomial model, and the one-class SVM algorithm. The result shows that oneclass training for this task works as well as multi-class training, with the great practical advantages of collecting much less data and more efficient training. One-class SVM using binary features performs best among the oneclass training algorithms.",
"title": ""
},
{
"docid": "cf506587f2699d88e4a2e0be36ccac41",
"text": "A complete list of the titles in this series appears at the end of this volume. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages. Wiley also publishes its books in a variety of electronic formats. Some content that appears in print, however, may not be available in electronic format.",
"title": ""
},
{
"docid": "89c85642fc2e0b1f10c9a13b19f1d833",
"text": "Many current successful Person Re-Identification(ReID) methods train a model with the softmax loss function to classify images of different persons and obtain the feature vectors at the same time. However, the underlying feature embedding space is ignored. In this paper, we use a modified softmax function, termed Sphere Softmax, to solve the classification problem and learn a hypersphere manifold embedding simultaneously. A balanced sampling strategy is also introduced. Finally, we propose a convolutional neural network called SphereReID adopting Sphere Softmax and training a single model end-to-end with a new warming-up learning rate schedule on four challenging datasets including Market-1501, DukeMTMC-reID, CHHK-03, and CUHK-SYSU. Experimental results demonstrate that this single model outperforms the state-of-the-art methods on all four datasets without fine-tuning or reranking. For example, it achieves 94.4% rank-1 accuracy on Market-1501 and 83.9% rank-1 accuracy on DukeMTMC-reID. The code and trained weights of our model will be released.",
"title": ""
},
{
"docid": "fee96195e50e7418b5d63f8e6bd07907",
"text": "Optimal power flow (OPF) is considered for microgrids, with the objective of minimizing either the power distribution losses, or, the cost of power drawn from the substation and supplied by distributed generation (DG) units, while effecting voltage regulation. The microgrid is unbalanced, due to unequal loads in each phase and non-equilateral conductor spacings on the distribution lines. Similar to OPF formulations for balanced systems, the considered OPF problem is nonconvex. Nevertheless, a semidefinite programming (SDP) relaxation technique is advocated to obtain a convex problem solvable in polynomial-time complexity. Enticingly, numerical tests demonstrate the ability of the proposed method to attain the globally optimal solution of the original nonconvex OPF. To ensure scalability with respect to the number of nodes, robustness to isolated communication outages, and data privacy and integrity, the proposed SDP is solved in a distributed fashion by resorting to the alternating direction method of multipliers. The resulting algorithm entails iterative message-passing among groups of consumers and guarantees faster convergence compared to competing alternatives.",
"title": ""
},
{
"docid": "704d729295cddd358eba5eefdf0bdee4",
"text": "Remarkable advances in instrument technology, automation and computer science have greatly simplified many aspects of previously tedious tasks in laboratory diagnostics, creating a greater volume of routine work, and significantly improving the quality of results of laboratory testing. Following the development and successful implementation of high-quality analytical standards, analytical errors are no longer the main factor influencing the reliability and clinical utilization of laboratory diagnostics. Therefore, additional sources of variation in the entire laboratory testing process should become the focus for further and necessary quality improvements. Errors occurring within the extra-analytical phases are still the prevailing source of concern. Accordingly, lack of standardized procedures for sample collection, including patient preparation, specimen acquisition, handling and storage, account for up to 93% of the errors currently encountered within the entire diagnostic process. The profound awareness that complete elimination of laboratory testing errors is unrealistic, especially those relating to extra-analytical phases that are harder to control, highlights the importance of good laboratory practice and compliance with the new accreditation standards, which encompass the adoption of suitable strategies for error prevention, tracking and reduction, including process redesign, the use of extra-analytical specifications and improved communication among caregivers.",
"title": ""
},
{
"docid": "e05b1b6e1ca160b06e36b784df30b312",
"text": "The vision of the MDSD is an era of software engineering where modelling completely replaces programming i.e. the systems are entirely generated from high-level models, each one specifying a different view of the same system. The MDSD can be seen as the new generation of visual programming languages which provides methods and tools to streamline the process of software engineering. Productivity of the development process is significantly improved by the MDSD approach and it also increases the quality of the resulting software system. The MDSD is particularly suited for those software applications which require highly specialized technical knowledge due to the involvement of complex technologies and the large number of complex and unmanageable standards. In this paper, an overview of the MDSD is presented; the working styles and the main concepts are illustrated in detail.",
"title": ""
}
] | scidocsrr |
76a79f93307b188952b2fe5e0210b0fe | I want to answer; who has a question?: Yahoo! answers recommender system | [
{
"docid": "e870f2fe9a26b241bdeca882b6186169",
"text": "Some people may be laughing when looking at you reading in your spare time. Some may be admired of you. And some may want be like you who have reading hobby. What about your own feel? Have you felt right? Reading is a need and a hobby at once. This condition is the on that will make you feel that you must read. If you know are looking for the book enPDFd recommender systems handbook as the choice of reading, you can find here.",
"title": ""
}
] | [
{
"docid": "e6ff5af0a9d6105a60771a2c447fab5e",
"text": "Object detection and classification in 3D is a key task in Automated Driving (AD). LiDAR sensors are employed to provide the 3D point cloud reconstruction of the surrounding environment, while the task of 3D object bounding box detection in real time remains a strong algorithmic challenge. In this paper, we build on the success of the oneshot regression meta-architecture in the 2D perspective image space and extend it to generate oriented 3D object bounding boxes from LiDAR point cloud. Our main contribution is in extending the loss function of YOLO v2 to include the yaw angle, the 3D box center in Cartesian coordinates and the height of the box as a direct regression problem. This formulation enables real-time performance, which is essential for automated driving. Our results are showing promising figures on KITTI benchmark, achieving real-time performance (40 fps) on Titan X GPU.",
"title": ""
},
{
"docid": "22b259233ffe842e91347792bd7b48e0",
"text": "The increase of the complexity and advancement in ecological and environmental sciences encourages scientists across the world to collect data from multiple places, times, and thematic scales to verify their hypotheses. Accumulated over time, such data not only increases in amount, but also in the diversity of the data sources spread around the world. This poses a huge challenge for scientists who have to manually search for information. To alleviate such problems, ONEMercury has recently been implemented as part of the DataONE project to serve as a portal for accessing environmental and observational data across the globe. ONEMercury harvests metadata from the data hosted by multiple repositories and makes it searchable. However, harvested metadata records sometimes are poorly annotated or lacking meaningful keywords, which could affect effective retrieval. Here, we develop algorithms for automatic annotation of metadata. We transform the problem into a tag recommendation problem with a controlled tag library, and propose two variants of an algorithm for recommending tags. Our experiments on four datasets of environmental science metadata records not only show great promises on the performance of our method, but also shed light on the different natures of the datasets.",
"title": ""
},
{
"docid": "c366303728d2a8ee47fe4cbfe67dec24",
"text": "Terrestrial Gamma-ray Flashes (TGFs), discovered in 1994 by the Compton Gamma-Ray Observatory, are high-energy photon bursts originating in the Earth’s atmosphere in association with thunderstorms. In this paper, we demonstrate theoretically that, while TGFs pass through the atmosphere, the large quantities of energetic electrons knocked out by collisions between photons and air molecules generate excited species of neutral and ionized molecules, leading to a significant amount of optical emissions. These emissions represent a novel type of transient luminous events in the vicinity of the cloud tops. We show that this predicted phenomenon illuminates a region with a size notably larger than the TGF source and has detectable levels of brightness. Since the spectroscopic, morphological, and temporal features of this luminous event are closely related with TGFs, corresponding measurements would provide a novel perspective for investigation of TGFs, as well as lightning discharges that produce them.",
"title": ""
},
{
"docid": "5afe9c613da51904d498b282fb1b62df",
"text": "Two types of suspended stripline ultra-wideband bandpass filters are described, one based on a standard lumped element (L-C) filter concept including transmission zeroes to improve the upper passband slope, and a second one consisting of the combination of a low-pass and a high-pass filter.",
"title": ""
},
{
"docid": "e447a0129f01a096f03b16c2ee16c888",
"text": "Many authors use feedforward neural networks for modeling and forecasting time series. Most of these applications are mainly experimental, and it is often difficult to extract a general methodology from the published studies. In particular, the choice of architecture is a tricky problem. We try to combine the statistical techniques of linear and nonlinear time series with the connectionist approach. The asymptotical properties of the estimators lead us to propose a systematic methodology to determine which weights are nonsignificant and to eliminate them to simplify the architecture. This method (SSM or statistical stepwise method) is compared to other pruning techniques and is applied to some artificial series, to the famous Sunspots benchmark, and to daily electrical consumption data.",
"title": ""
},
{
"docid": "884ee23f40ad31f7010f9486b74d9433",
"text": "A streamlined parallel traffic management system (PtMS) is outlined that works alongside a redesigned intelligent transportation system in Qingdao, China. The PtMS's structure provides enhanced control and management support, with increased versatility for use in real-world scenarios.",
"title": ""
},
{
"docid": "4dc8b11b9123c6a25dcf4765d77cb6ca",
"text": "Accurate and reliable information about land use and land cover is essential for change detection and monitoring of the specified area. It is also useful in the updating the geographical information about the area. Over the past decade, a significant amount of research has been conducted concerning the application of different classifier and image fusion technique in this area. In this paper, introductions to the land use and land cover classification techniques are given and the results from a number of different techniques are compared. It has been found that, in general fusion technique perform better than either conventional classifier or supervised/unsupervised classification.",
"title": ""
},
{
"docid": "83856fb0a5e53c958473fdf878b89b20",
"text": "Due to the expensive nature of an industrial robot, not all universities are equipped with areal robots for students to operate. Learning robotics without accessing to an actual robotic system has proven to be difficult for undergraduate students. For instructors, it is also an obstacle to effectively teach fundamental robotic concepts. Virtual robot simulator has been explored by many researchers to create a virtual environment for teaching and learning. This paper presents structure of a course project which requires students to develop a virtual robot simulator. The simulator integrates concept of kinematics, inverse kinematics and controls. Results show that this approach assists and promotes better students‟ understanding of robotics.",
"title": ""
},
{
"docid": "865cfae2da5ad3d1d10d21b1defdc448",
"text": "During the last decade, novel immunotherapeutic strategies, in particular antibodies directed against immune checkpoint inhibitors, have revolutionized the treatment of different malignancies leading to an improved survival of patients. Identification of immune-related biomarkers for diagnosis, prognosis, monitoring of immune responses and selection of patients for specific cancer immunotherapies is urgently required and therefore areas of intensive research. Easily accessible samples in particular liquid biopsies (body fluids), such as blood, saliva or urine, are preferred for serial tumor biopsies.Although monitoring of immune and tumor responses prior, during and post immunotherapy has led to significant advances of patients' outcome, valid and stable prognostic biomarkers are still missing. This might be due to the limited capacity of the technologies employed, reproducibility of results as well as assay stability and validation of results. Therefore solid approaches to assess immune regulation and modulation as well as to follow up the nature of the tumor in liquid biopsies are urgently required to discover valuable and relevant biomarkers including sample preparation, timing of the collection and the type of liquid samples. This article summarizes our knowledge of the well-known liquid material in a new context as liquid biopsy and focuses on collection and assay requirements for the analysis and the technical developments that allow the implementation of different high-throughput assays to detect alterations at the genetic and immunologic level, which could be used for monitoring treatment efficiency, acquired therapy resistance mechanisms and the prognostic value of the liquid biopsies.",
"title": ""
},
{
"docid": "75f895ff76e7a55d589ff30637524756",
"text": "This paper details the coreference resolution system submitted by Stanford at the CoNLL2011 shared task. Our system is a collection of deterministic coreference resolution models that incorporate lexical, syntactic, semantic, and discourse information. All these models use global document-level information by sharing mention attributes, such as gender and number, across mentions in the same cluster. We participated in both the open and closed tracks and submitted results using both predicted and gold mentions. Our system was ranked first in both tracks, with a score of 57.8 in the closed track and 58.3 in the open track.",
"title": ""
},
{
"docid": "866c1e87076da5a94b9adeacb9091ea3",
"text": "Training a support vector machine (SVM) is usually done by ma pping the underlying optimization problem into a quadratic progr amming (QP) problem. Unfortunately, high quality QP solvers are not rea dily available, which makes research into the area of SVMs difficult for he those without a QP solver. Recently, the Sequential Minimal Optim ization algorithm (SMO) was introduced [1, 2]. SMO reduces SVM trainin g down to a series of smaller QP subproblems that have an analytical solution and, therefore, does not require a general QP solver. SMO has been shown to be very efficient for classification problems using l ear SVMs and/or sparse data sets. This work shows how SMO can be genera lized to handle regression problems.",
"title": ""
},
{
"docid": "0c0b099a2a4a404632a1f065cfa328c4",
"text": "Quantum computers are available to use over the cloud, but the recent explosion of quantum software platforms can be overwhelming for those deciding on which to use. In this paper, we provide a current picture of the rapidly evolving quantum computing landscape by comparing four software platforms—Forest (pyQuil), QISKit, ProjectQ, and the Quantum Developer Kit—that enable researchers to use real and simulated quantum devices. Our analysis covers requirements and installation, language syntax through example programs, library support, and quantum simulator capabilities for each platform. For platforms that have quantum computer support, we compare hardware, quantum assembly languages, and quantum compilers. We conclude by covering features of each and briefly mentioning other quantum computing software packages.",
"title": ""
},
{
"docid": "d7ea5e0bdf811f427b7c283d4aae7371",
"text": "This work investigates the development of students’ computational thinking (CT) skills in the context of educational robotics (ER) learning activity. The study employs an appropriate CT model for operationalising and exploring students’ CT skills development in two different age groups (15 and 18 years old) and across gender. 164 students of different education levels (Junior high: 89; High vocational: 75) engaged in ER learning activities (2 hours per week, 11 weeks totally) and their CT skills were evaluated at different phases during the activity, using different modality (written and oral) assessment tools. The results suggest that: (a) students reach eventually the same level of CT skills development independent of their age and gender, (b) CT skills inmost cases need time to fully develop (students’ scores improve significantly towards the end of the activity), (c) age and gender relevant differences appear when analysing students’ score in the various specific dimensions of the CT skills model, (d) the modality of the skill assessment instrumentmay have an impact on students’ performance, (e) girls appear inmany situations to need more training time to reach the same skill level compared to boys. © 2015 Elsevier B.V. All rights reserved.",
"title": ""
},
{
"docid": "f53a2ca0fda368d0e90cbb38076658af",
"text": "RNAi therapeutics is a powerful tool for treating diseases by sequence-specific targeting of genes using siRNA. Since its discovery, the need for a safe and efficient delivery system for siRNA has increased. Here, we have developed and characterized a delivery platform for siRNA based on the natural polysaccharide starch in an attempt to address unresolved delivery challenges of RNAi. Modified potato starch (Q-starch) was successfully obtained by substitution with quaternary reagent, providing Q-starch with cationic properties. The results indicate that Q-starch was able to bind siRNA by self-assembly formation of complexes. For efficient and potent gene silencing we monitored the physical characteristics of the formed nanoparticles at increasing N/P molar ratios. The minimum ratio for complete entrapment of siRNA was 2. The resulting complexes, which were characterized by a small diameter (~30 nm) and positive surface charge, were able to protect siRNA from enzymatic degradation. Q-starch/siRNA complexes efficiently induced P-glycoprotein (P-gp) gene silencing in the human ovarian adenocarcinoma cell line, NCI-ADR/Res (NAR), over expressing the targeted gene and presenting low toxicity. Additionally, Q-starch-based complexes showed high cellular uptake during a 24-hour study, which also suggested that intracellular siRNA delivery barriers governed the kinetics of siRNA transfection. In this study, we have devised a promising siRNA delivery vector based on a starch derivative for efficient and safe RNAi application.",
"title": ""
},
{
"docid": "7b5df73b6fb0574bd7c039da53047724",
"text": "Many ad hoc network protocols and applications assume the knowledge of geographic location of nodes. The absolute position of each networked node is an assumed fact by most sensor networks which can then present the sensed information on a geographical map. Finding position without the aid of GPS in each node of an ad hoc network is important in cases where GPS is either not accessible, or not practical to use due to power, form factor or line of sight conditions. Position would also enable routing in sufficiently isotropic large networks, without the use of large routing tables. We are proposing APS – a localized, distributed, hop by hop positioning algorithm, that works as an extension of both distance vector routing and GPS positioning in order to provide approximate position for all nodes in a network where only a limited fraction of nodes have self positioning capability.",
"title": ""
},
{
"docid": "e90c165a3e16035b56a4bb4ceb9282ed",
"text": "Point of care testing (POCT) refers to laboratory testing that occurs near to the patient, often at the patient bedside. POCT can be advantageous in situations requiring rapid turnaround time of test results for clinical decision making. There are many challenges associated with POCT, mainly related to quality assurance. POCT is performed by clinical staff rather than laboratory trained individuals which can lead to errors resulting from a lack of understanding of the importance of quality control and quality assurance practices. POCT is usually more expensive than testing performed in the central laboratory and requires a significant amount of support from the laboratory to ensure the quality testing and meet accreditation requirements. Here, specific challenges related to POCT compliance with accreditation standards are discussed along with strategies that can be used to overcome these challenges. These areas include: documentation of POCT orders, charting of POCT results as well as training and certification of individuals performing POCT. Factors to consider when implementing connectivity between POCT instruments and the electronic medical record are also discussed in detail and include: uni-directional versus bidirectional communication, linking patient demographic information with POCT software, the importance of positive patient identification and considering where to chart POCT results in the electronic medical record.",
"title": ""
},
{
"docid": "6cac6ab24b5e833e73c98db476e1437d",
"text": "The observation that a particular drug state may acquire the properties of a discriminative stimulus is explicable on the basis of drug-induced interoceptive cues. The present investigation sought to determine (a) whether the hallucinogens mescaline and LSD could serve as discriminative stimuli when either drug is paired with saline and (b) whether discriminative responding would occur when the paired stimuli are produced by equivalent doses of LSD and mescaline. In a standard two-lever operant test chamber, rats received a reinforcer (sweetened milk) for correct responses according to a variable interval schedule. All sessions were preceded by one of two treatments; following treatment A, only responses on lever A were reinforced and, in a similar fashion, lever B was correct following treatment B. No responses were reinforced during the first five minutes of a daily thirty-minute session. It was found that mescaline and LSD can serve as discriminative stimuli when either drug is paired with saline and that the degree of discrimination varies with drug dose. When equivalent doses of the two drugs were given to the same animal, no discriminated responding was observed. The latter finding suggests that mescaline and LSD produce qualitatively similar interoceptive cues in the rat.",
"title": ""
},
{
"docid": "4bce6150e9bc23716a19a0d7c02640c0",
"text": "A Data Mining Framework for Constructing Features and Models for Intrusion Detection Systems",
"title": ""
},
{
"docid": "9b3db8c2632ad79dc8e20435a81ef2a1",
"text": "Social networks have changed the way information is delivered to the customers, shifting from traditional one-to-many to one-to-one communication. Opinion mining and sentiment analysis offer the possibility to understand the user-generated comments and explain how a certain product or a brand is perceived. Classification of different types of content is the first step towards understanding the conversation on the social media platforms. Our study analyses the content shared on Facebook in terms of topics, categories and shared sentiment for the domain of a sponsored Facebook brand page. Our results indicate that Product, Sales and Brand are the three most discussed topics, while Requests and Suggestions, Expressing Affect and Sharing are the most common intentions for participation. We discuss the implications of our findings for social media marketing and opinion mining.",
"title": ""
},
{
"docid": "af1b98a3b40e8adc053ddafa49e44fd0",
"text": "Kernel PCA as a nonlinear feature extractor has proven powerful as a preprocessing step for classification algorithms. But it can also be considered as a natural generalization of linear principal component analysis. This gives rise to the question how to use nonlinear features for data compression, reconstruction, and de-noising, applications common in linear PCA. This is a nontrivial task, as the results provided by kernel PCA live in some high dimensional feature space and need not have pre-images in input space. This work presents ideas for finding approximate pre-images, focusing on Gaussian kernels, and shows experimental results using these pre-images in data reconstruction and de-noising on toy examples as well as on real world data. 1 peA and Feature Spaces Principal Component Analysis (PC A) (e.g. [3]) is an orthogonal basis transformation. The new basis is found by diagonalizing the centered covariance matrix of a data set {Xk E RNlk = 1, ... ,f}, defined by C = ((Xi (Xk))(Xi (Xk))T). The coordinates in the Eigenvector basis are called principal components. The size of an Eigenvalue >. corresponding to an Eigenvector v of C equals the amount of variance in the direction of v. Furthermore, the directions of the first n Eigenvectors corresponding to the biggest n Eigenvalues cover as much variance as possible by n orthogonal directions. In many applications they contain the most interesting information: for instance, in data compression, where we project onto the directions with biggest variance to retain as much information as possible, or in de-noising, where we deliberately drop directions with small variance. Clearly, one cannot assert that linear PCA will always detect all structure in a given data set. By the use of suitable nonlinear features, one can extract more information. Kernel PCA is very well suited to extract interesting nonlinear structures in the data [9]. The purpose of this work is therefore (i) to consider nonlinear de-noising based on Kernel PCA and (ii) to clarify the connection between feature space expansions and meaningful patterns in input space. Kernel PCA first maps the data into some feature space F via a (usually nonlinear) function <II and then performs linear PCA on the mapped data. As the feature space F might be very high dimensional (e.g. when mapping into the space of all possible d-th order monomials of input space), kernel PCA employs Mercer kernels instead of carrying Kernel peA and De-Noising in Feature Spaces 537 out the mapping <I> explicitly. A Mercer kernel is a function k(x, y) which for all data sets {Xi} gives rise to a positive matrix Kij = k(Xi' Xj) [6]. One can show that using k instead of a dot product in input space corresponds to mapping the data with some <I> to a feature space F [1], i.e. k(x,y) = (<I>(x) . <I>(y)). Kernels that have proven useful include Gaussian kernels k(x, y) = exp( -llx Yll2 Ie) and polynomial kernels k(x, y) = (x·y)d. Clearly, all algorithms that can be formulated in terms of dot products, e.g. Support Vector Machines [1], can be carried out in some feature space F without mapping the data explicitly. All these algorithms construct their solutions as expansions in the potentially infinite-dimensional feature space. The paper is organized as follows: in the next section, we briefly describe the kernel PCA algorithm. In section 3, we present an algorithm for finding approximate pre-images of expansions in feature space. Experimental results on toy and real world data are given in section 4, followed by a discussion of our findings (section 5). 2 Kernel peA and Reconstruction To perform PCA in feature space, we need to find Eigenvalues A > 0 and Eigenvectors V E F\\{O} satisfying AV = GV with G = (<I>(Xk)<I>(Xk)T).1 Substituting G into the Eigenvector equation, we note that all solutions V must lie in the span of <I>-images of the training data. This implies that we can consider the equivalent system A( <I>(Xk) . V) = (<I>(Xk) . GV) for all k = 1, ... ,f (1) and that there exist coefficients Q1 , ... ,Ql such that l V = L i=l Qi<l>(Xi) (2) Substituting C and (2) into (1), and defining an f x f matrix K by Kij := (<I>(Xi)· <I>(Xj)) = k( Xi, X j), we arrive at a problem which is cast in terms of dot products: solve",
"title": ""
}
] | scidocsrr |
a83a32f9af7e3c9f191fd6d47ed7b593 | An algorithm for removing sensitive information: application to race-independent recidivism prediction | [
{
"docid": "18a524545090542af81e0a66df3a1395",
"text": "What does it mean for an algorithm to be biased? In U.S. law, unintentional bias is encoded via disparate impact, which occurs when a selection process has widely different outcomes for different groups, even as it appears to be neutral. This legal determination hinges on a definition of a protected class (ethnicity, gender) and an explicit description of the process.\n When computers are involved, determining disparate impact (and hence bias) is harder. It might not be possible to disclose the process. In addition, even if the process is open, it might be hard to elucidate in a legal setting how the algorithm makes its decisions. Instead of requiring access to the process, we propose making inferences based on the data it uses.\n We present four contributions. First, we link disparate impact to a measure of classification accuracy that while known, has received relatively little attention. Second, we propose a test for disparate impact based on how well the protected class can be predicted from the other attributes. Third, we describe methods by which data might be made unbiased. Finally, we present empirical evidence supporting the effectiveness of our test for disparate impact and our approach for both masking bias and preserving relevant information in the data. Interestingly, our approach resembles some actual selection practices that have recently received legal scrutiny.",
"title": ""
},
{
"docid": "22e21aab5d41c84a26bc09f9b7402efa",
"text": "Skeem for their thoughtful comments and suggestions.",
"title": ""
}
] | [
{
"docid": "1bc38456a881461764b26a9785337ac9",
"text": "Recent studies have characterized how host genetics, prenatal environment and delivery mode can shape the newborn microbiome at birth. Following this, postnatal factors, such as antibiotic treatment, diet or environmental exposure, further modulate the development of the infant's microbiome and immune system, and exposure to a variety of microbial organisms during early life has long been hypothesized to exert a protective effect in the newborn. Furthermore, epidemiological studies have shown that factors that alter bacterial communities in infants during childhood increase the risk for several diseases, highlighting the importance of understanding early-life microbiome composition. In this review, we describe how prenatal and postnatal factors shape the development of both the microbiome and the immune system. We also discuss the prospects of microbiome-mediated therapeutics and the need for more effective approaches that can reconfigure bacterial communities from pathogenic to homeostatic configurations.",
"title": ""
},
{
"docid": "d62c4280bbef1039a393e6949a164946",
"text": "Purpose – Achieving goals of better integrated and responsive government services requires moving away from stand alone applications toward more comprehensive, integrated architectures. As a result there is a mounting pressure to integrate disparate systems to support information exchange and cross-agency business processes. There are substantial barriers that governments must overcome to achieve these goals and to profit from enterprise application integration (EAI). Design/methodology/approach – In the research presented here we develop and test a methodology aimed at overcoming the barriers blocking adoption of EAI. This methodology is based on a discrete-event simulation of public sector structure, business processes and applications in combination with an EAI perspective. Findings – The testing suggests that our methodology helps to provide insight into the myriad of existing applications, and the implications of EAI. Moreover, it helps to identify novel options, gain stakeholder commitment, let them agree on the sharing of EAI costs, and finally it supports collaborative decision-making between public agencies. Practical implications – The approach is found to be useful for making the business case for EAI projects, and gaining stakeholder commitment prior to implementation. Originality/value – The joint addressing of the barriers of public sector reform including the transformation of the public sector structure, gaining of stakeholders’ commitment, understanding EAI technology and dependencies between cross-agency business processes, and a fair division of costs and benefits over stakeholders.",
"title": ""
},
{
"docid": "a4738508bec1fe5975ce92c2239d30d0",
"text": "The transpalatal arch might be one of the most common intraoral auxiliary fixed appliances used in orthodontics in order to provide dental anchorage. The aim of the present case report is to describe a case in which an adult patient with a tendency to class III, palatal compression, and bilateral posterior crossbite was treated with double transpalatal bars in order to control the torque of both the first and the second molars. Double transpalatal arches on both first and second maxillary molars are a successful appliance in order to control the posterior sectors and improve the torsion of the molars. They allow the professional to gain overbite instead of losing it as may happen with other techniques and avoid enlarging of Wilson curve, obtaining a more stable occlusion without the need for extra help from bone anchorage.",
"title": ""
},
{
"docid": "28ff3b1e9f29d7ae4b57f6565330cde5",
"text": "To identify the effects of core stabilization exercise on the Cobb angle and lumbar muscle strength of adolescent patients with idiopathic scoliosis. Subjects in the present study consisted of primary school students who were confirmed to have scoliosis on radiologic examination performed during their visit to the National Fitness Center in Seoul, Korea. Depending on whether they participated in a 12-week core stabilization exercise program, subjects were divided into the exercise (n=14, age 12.71±0.72 years) or control (n=15, age 12.80±0.86 years) group. The exercise group participated in three sessions of core stabilization exercise per week for 12 weeks. The Cobb angle, flexibility, and lumbar muscle strength tests were performed before and after core stabilization exercise. Repeated-measure two-way analysis of variance was performed to compare the treatment effects between the exercise and control groups. There was no significant difference in thoracic Cobb angle between the groups. The exercise group had a significant decrease in the lumbar Cobb angle after exercise compared to before exercise (P<0.001). The exercise group also had a significant increase in lumbar flexor and extensor muscles strength after exercise compared to before exercise (P<0.01 and P<0.001, respectively). Core stabilization exercise can be an effective therapeutic exercise to decrease the Cobb angle and improve lumbar muscle strength in adolescents with idiopathic scoliosis.",
"title": ""
},
{
"docid": "4fe25c65a4fd1886018482aceb82ad6f",
"text": "Article history: Received 21 March 2011 Revised 28 February 2012 Accepted 5 March 2012 Available online 26 March 2012 The purpose of this paper is (1) to identify critical issues in the current literature on ethical leadership — i.e., the conceptual vagueness of the construct itself and the focus on a Western-based perspective; and (2) to address these issues and recent calls for more collaboration between normative and empirical-descriptive inquiry of ethical phenomena by developing an interdisciplinary integrative approach to ethical leadership. Based on the analysis of similarities between Western and Eastern moral philosophy and ethics principles of the world religions, the present approach identifies four essential normative reference points of ethical leadership— the four central ethical orientations: (1) humane orientation, (2) justice orientation, (3) responsibility and sustainability orientation, and (4) moderation orientation. Research propositions on predictors and consequences of leader expressions of the four central orientations are offered. Real cases of ethical leadership choices, derived from in-depth interviews with international leaders, illustrate how the central orientations play out in managerial practice. © 2012 Elsevier Inc. All rights reserved.",
"title": ""
},
{
"docid": "63a481d452c6f566d88fdb9fa9d21703",
"text": "Compressive sensing (CS) is a novel sampling paradigm that samples signals in a much more efficient way than the established Nyquist sampling theorem. CS has recently gained a lot of attention due to its exploitation of signal sparsity. Sparsity, an inherent characteristic of many natural signals, enables the signal to be stored in few samples and subsequently be recovered accurately, courtesy of CS. This article gives a brief background on the origins of this idea, reviews the basic mathematical foundation of the theory and then goes on to highlight different areas of its application with a major emphasis on communications and network domain. Finally, the survey concludes by identifying new areas of research where CS could be beneficial.",
"title": ""
},
{
"docid": "073d93f6dc89e71ec54fa00e5dd2d194",
"text": "Naive Bayes and logistic regression perform well in different regimes. While the former is a very simple generative model which is efficient to train and performs well empirically in many applications,the latter is a discriminative model which often achieves better accuracy and can be shown to outperform naive Bayes asymptotically. In this paper, we propose a novel hybrid model, partitioned logistic regression, which has several advantages over both naive Bayes and logistic regression. This model separates the original feature space into several disjoint feature groups. Individual models on these groups of features are learned using logistic regression and their predictions are combined using the naive Bayes principle to produce a robust final estimation. We show that our model is better both theoretically and empirically. In addition, when applying it in a practical application, email spam filtering, it improves the normalized AUC score at 10% false-positive rate by 28.8% and 23.6% compared to naive Bayes and logistic regression, when using the exact same training examples.",
"title": ""
},
{
"docid": "c2da932aec6f3d8c6fddc9aaa994c9cd",
"text": "As more companies embrace the concepts of sustainable development, there is a need to bring the ideas inherent in eco-efficiency and the \" triple-bottom line \" thinking down to a practical implementation level. Putting this concept into operation requires an understanding of the key indicators of sustainability and how they can be measured to determine if, in fact, progress is being made. Sustainability metrics are intended as simple yardsticks that are applicable across industry. The primary objective of this approach is to improve internal management decision-making with respect to the sustainability of processes, products and services. This approach can be used to make better decisions at any stage of the stage-gate process: from identification of an innovation to design to manufacturing and ultimately to exiting a business. More specifically, sustainability metrics can assist decision makers in setting goals, benchmarking, and comparing alternatives such as different suppliers, raw materials, and improvement options from the sustainability perspective. This paper provides a review on the early efforts and recent progress in the development of sustainability metrics. The experience of BRIDGES to Sustainability™, a not-for-profit organization, in testing, adapting, and refining the sustainability metrics are summarized. Basic and complementary metrics under six impact categories: material, energy, water, solid wastes, toxic release, and pollutant effects, are discussed. The development of BRIDGESworks™ Metrics, a metrics management software tool, is also presented. The software was designed to be both easy to use and flexible. It incorporates a base set of metrics and their heuristics for calculation, as well as a robust set of impact assessment data for use in identifying pollutant effects. While providing a metrics management starting point, the user has the option of creating other metrics defined by the user. The sustainability metrics work at BRIDGES to Sustainability™ was funded partially by the U.S. Department of Energy through a subcontract with the American Institute of Chemical Engineers and through corporate pilots.",
"title": ""
},
{
"docid": "2ca62de84fadc2d00831447eb72325b7",
"text": "Research across many fields of medicine now points towards the clinical advantages of combining regenerative procedures with platelet-rich fibrin (PRF). This systematic review aimed to gather the extensive number of articles published to date on PRF in the dental field to better understand the clinical procedures where PRF may be utilized to enhance tissue/bone formation. Manuscripts were searched systematically until May 2016 and separated into the following categories: intrabony and furcation defect regeneration, extraction socket management, sinus lifting procedures, gingival recession treatment, and guided bone regeneration (GBR) including horizontal/vertical bone augmentation procedures. Only human randomized clinical trials were included for assessment. In total, 35 articles were selected and divided accordingly (kappa = 0.94). Overall, the use of PRF has been most investigated in periodontology for the treatment of periodontal intrabony defects and gingival recessions where the majority of studies have demonstrated favorable results in soft tissue management and repair. Little to no randomized clinical trials were found for extraction socket management although PRF has been shown to significantly decrease by tenfold dry sockets of third molars. Very little to no data was available directly investigating the effects of PRF on new bone formation in GBR, horizontal/vertical bone augmentation procedures, treatment of peri-implantitis, and sinus lifting procedures. Much investigation now supports the use of PRF for periodontal and soft tissue repair. Despite this, there remains a lack of well-conducted studies demonstrating convincingly the role of PRF during hard tissue bone regeneration. Future human randomized clinical studies evaluating the use of PRF on bone formation thus remain necessary. PRF was shown to improve soft tissue generation and limit dimensional changes post-extraction, with little available data to date supporting its use in GBR.",
"title": ""
},
{
"docid": "8222f36e2aa06eac76085fb120c8edab",
"text": "Small jobs, that are typically run for interactive data analyses in datacenters, continue to be plagued by disproportionately long-running tasks called stragglers. In the production clusters at Facebook and Microsoft Bing, even after applying state-of-the-art straggler mitigation techniques, these latency sensitive jobs have stragglers that are on average 8 times slower than the median task in that job. Such stragglers increase the average job duration by 47%. This is because current mitigation techniques all involve an element of waiting and speculation. We instead propose full cloning of small jobs, avoiding waiting and speculation altogether. Cloning of small jobs only marginally increases utilization because workloads show that while the majority of jobs are small, they only consume a small fraction of the resources. The main challenge of cloning is, however, that extra clones can cause contention for intermediate data. We use a technique, delay assignment, which efficiently avoids such contention. Evaluation of our system, Dolly, using production workloads shows that the small jobs speedup by 34% to 46% after state-of-the-art mitigation techniques have been applied, using just 5% extra resources for cloning.",
"title": ""
},
{
"docid": "3cf1197436af89889edc04cae8acfb0f",
"text": "The rapid growth of new radio technologies for Smart City/Building/Home applications means that models of cross-technology interference are needed to inform the development of higher layer protocols and applications. We systematically investigate interference interactions between LoRa and IEEE 802.15.4g networks. Our results show that LoRa can obtain high packet reception rates, even in presence of strong IEEE 802.15.4g interference. IEEE 802.15.4g is also shown to have some resilience to LoRa interference. Both effects are highly dependent on the LoRa radio's spreading factor and bandwidth configuration, as well as on the channelization. The results are shown to arise from the interaction between the two radios' modulation schemes. The data have implications for the design and analysis of protocols for both radio technologies.",
"title": ""
},
{
"docid": "1846bbaac13e4a8d5c34b1657a5b634c",
"text": "Technology advancement entails an analog design scenario in which sophisticated signal processing algorithms are deployed in mixed-mode and radio frequency circuits to compensate for deterministic and random deficiencies of process technologies. This article reviews one such approach of applying a common communication technique, equalization, to correct for nonlinear distortions in analog circuits, which is analogized as non-ideal communication channels. The efficacy of this approach is showcased by a few latest advances in data conversion and RF transmission integrated circuits, where unprecedented energy efficiency, circuit linearity, and post-fabrication adaptability have been attained with low-cost digital processing.",
"title": ""
},
{
"docid": "3d8345898c5d058217447de807027902",
"text": "A problem in the design of decision aids is how to design them so that decision makers will trust them and therefore use them appropriately. This problem is approached in this paper by taking models of trust between humans as a starting point, and extending these to the human-machine relationship. A definition and model of human-machine trust are proposed, and the dynamics of trust between humans and machines are examined. Based upon this analysis, recommendations are made for calibrating users' trust in decision aids.",
"title": ""
},
{
"docid": "c4490ecc0b0fb0641dc41313d93ccf44",
"text": "Machine learning predictive modeling algorithms are governed by “hyperparameters” that have no clear defaults agreeable to a wide range of applications. The depth of a decision tree, number of trees in a forest, number of hidden layers and neurons in each layer in a neural network, and degree of regularization to prevent overfitting are a few examples of quantities that must be prescribed for these algorithms. Not only do ideal settings for the hyperparameters dictate the performance of the training process, but more importantly they govern the quality of the resulting predictive models. Recent efforts to move from a manual or random adjustment of these parameters include rough grid search and intelligent numerical optimization strategies. This paper presents an automatic tuning implementation that uses local search optimization for tuning hyperparameters of modeling algorithms in SAS® Visual Data Mining and Machine Learning. The AUTOTUNE statement in the TREESPLIT, FOREST, GRADBOOST, NNET, SVMACHINE, and FACTMAC procedures defines tunable parameters, default ranges, user overrides, and validation schemes to avoid overfitting. Given the inherent expense of training numerous candidate models, the paper addresses efficient distributed and parallel paradigms for training and tuning models on the SAS® ViyaTM platform. It also presents sample tuning results that demonstrate improved model accuracy and offers recommendations for efficient and effective model tuning.",
"title": ""
},
{
"docid": "de73980005a62a24820ed199fab082a3",
"text": "Natural language interfaces offer end-users a familiar and convenient option for querying ontology-based knowledge bases. Several studies have shown that they can achieve high retrieval performance as well as domain independence. This paper focuses on usability and investigates if NLIs are useful from an end-user’s point of view. To that end, we introduce four interfaces each allowing a different query language and present a usability study benchmarking these interfaces. The results of the study reveal a clear preference for full sentences as query language and confirm that NLIs are useful for querying Semantic Web data.",
"title": ""
},
{
"docid": "11d458252bc83d062c8cf46a556c6c80",
"text": "A new bio-inspired optimisation algorithm: Bird Swarm Algorithm Xian-Bing Meng, X.Z. Gao, Lihua Lu, Yu Liu & Hengzhen Zhang a College of Information Engineering, Shanghai Maritime University, Shanghai, P.R. China b Chengdu Green Energy and Green Manufacturing R&D Center, Chengdu, P.R. China c Department of Electrical Engineering and Automation, Aalto University School of Electrical Engineering, Aalto, Finland d School of Computer Science, Fudan University, Shanghai, P.R. China e College of Mathematics and Information Science, Zhengzhou University of Light Industry, Zhengzhou, P.R. China Published online: 17 Jun 2015.",
"title": ""
},
{
"docid": "db1ea53535365f0ca01a806fa0f7b6d7",
"text": "OBJECTIVES\nThe purpose of this study was to examine the overlap in burnout and depression.\n\n\nMETHOD\nThe sample comprised 1,386 schoolteachers (mean [M]age = 43; Myears taught = 15; 77% women) from 18 different U.S. states. We assessed burnout, using the Shirom-Melamed Burnout Measure, and depression, using the depression module of the Patient Health Questionnaire.\n\n\nRESULTS\nTreated dimensionally, burnout and depressive symptoms were strongly correlated (.77; disattenuated correlation, .84). Burnout and depressive symptoms were similarly correlated with each of 3 stress-related factors, stressful life events, job adversity, and workplace support. In categorical analyses, 86% of the teachers identified as burned out met criteria for a provisional diagnosis of depression. Exploratory analyses revealed a link between burnout and anxiety.\n\n\nCONCLUSIONS\nThis study provides evidence that past research has underestimated burnout-depression overlap. The state of burnout is likely to be a form of depression. Given the magnitude of burnout-depression overlap, treatments for depression may help workers identified as \"burned out.\"",
"title": ""
},
{
"docid": "9b9cff2b6d1313844b88bad5a2724c52",
"text": "A robot is usually an electro-mechanical machine that is guided by computer and electronic programming. Many robots have been built for manufacturing purpose and can be found in factories around the world. Designing of the latest inverted ROBOT which can be controlling using an APP for android mobile. We are developing the remote buttons in the android app by which we can control the robot motion with them. And in which we use Bluetooth communication to interface controller and android. Controller can be interfaced to the Bluetooth module though UART protocol. According to commands received from android the robot motion can be controlled. The consistent output of a robotic system along with quality and repeatability are unmatched. Pick and Place robots can be reprogrammable and tooling can be interchanged to provide for multiple applications.",
"title": ""
},
{
"docid": "7d7ae20eab5f945f9e08969b7ab9152d",
"text": "Semantic tagging of mathematical expressions (STME) gives semantic meanings to tokens in mathematical expressions. In this work, we propose a novel STME approach that relies on neither text along with expressions, nor labelled training data. Instead, our method only requires a mathematical grammar set. We point out that, besides the grammar of mathematics, the special property of variables and user habits of writing expressions help us understand the implicit intents of the user. We build a system that considers both restrictions from the grammar and variable properties, and then apply an unsupervised method to our probabilistic model to learn the user habits. To evaluate our system, we build large-scale training and test datasets automatically from a public math forum. The results demonstrate the significant improvement of our method, compared to the maximum-frequency baseline. We also create statistics to reveal the properties of mathematics language.",
"title": ""
},
{
"docid": "027a5da45d41ce5df40f6b342a9e4485",
"text": "GPipe is a scalable pipeline parallelism library that enables learning of giant deep neural networks. It partitions network layers across accelerators and pipelines execution to achieve high hardware utilization. It leverages recomputation to minimize activation memory usage. For example, using partitions over 8 accelerators, it is able to train networks that are 25× larger, demonstrating its scalability. It also guarantees that the computed gradients remain consistent regardless of the number of partitions. It achieves an almost linear speedup without any changes in the model parameters: when using 4× more accelerators, training the same model is up to 3.5× faster. We train a 557 million parameters AmoebaNet model and achieve a new state-ofthe-art 84.3% top-1 / 97.0% top-5 accuracy on ImageNet 2012 dataset. Finally, we use this learned model to finetune multiple popular image classification datasets and obtain competitive results, including pushing the CIFAR-10 accuracy to 99% and CIFAR-100 accuracy to 91.3%.",
"title": ""
}
] | scidocsrr |
08bbea096c19a441f37a03e57ccb612b | An alternative view of the mental lexicon | [
{
"docid": "144a16894de8fa88cf3130fe3e44c05d",
"text": "Bargaining with reading habit is no need. Reading is not kind of something sold that you can take or not. It is a thing that will change your life to life better. It is the thing that will give you many things around the world and this universe, in the real world and here after. As what will be given by this foundations of language brain meaning grammar evolution, how can you bargain with the thing that has many benefits for you?",
"title": ""
},
{
"docid": "8e8d7b2411fa0b0c19d745ce85fcec11",
"text": "Parallel distributed processing (PDP) architectures demonstrate a potentially radical alternative to the traditional theories of language processing that are based on serial computational models. However, learning complex structural relationships in temporal data presents a serious challenge to PDP systems. For example, automata theory dictates that processing strings from a context-free language (CFL) requires a stack or counter memory device. While some PDP models have been hand-crafted to emulate such a device, it is not clear how a neural network might develop such a device when learning a CFL. This research employs standard backpropagation training techniques for a recurrent neural network (RNN) in the task of learning to predict the next character in a simple deterministic CFL (DCFL). We show that an RNN can learn to recognize the structure of a simple DCFL. We use dynamical systems theory to identify how network states re ̄ ect that structure by building counters in phase space. The work is an empirical investigation which is complementary to theoretical analyses of network capabilities, yet original in its speci ® c con® guration of dynamics involved. The application of dynamical systems theory helps us relate the simulation results to theoretical results, and the learning task enables us to highlight some issues for understanding dynamical systems that process language with counters.",
"title": ""
},
{
"docid": "664cd5bc10a5564b3962458a21292c46",
"text": "This article may be used for research, teaching and private study purposes. Any substantial or systematic reproduction, redistribution , reselling , loan or sub-licensing, systematic supply or distribution in any form to anyone is expressly forbidden. The publisher does not give any warranty express or implied or make any representation that the contents will be complete or accurate or up to date. The accuracy of any instructions, formulae and drug doses should be independently verified with primary sources. The publisher shall not be liable for any loss, actions, claims, proceedings, demand or costs or damages whatsoever or howsoever caused arising directly or indirectly in connection with or arising out of the use of this material. In this paper, we review basic aspects of conventional approaches to sentence comprehension and point out some of the difficulties faced by models that take these approaches. We then describe an alternative approach, based on the principles of parallel distributed processing, and show how it offers different answers to basic questions about the nature of the language processing mechanism. We describe an illustrative simulation model that captures the key characteristics of the approach, and illustrate how it can cope with the difficulties faced by conventional models. We describe alternative ways of conceptualising basic aspects of language processing within the framework of this approach, consider how it can address several arguments that might be brought to bear against it, and suggest avenues for future development.",
"title": ""
}
] | [
{
"docid": "37f2ed531daf16b41eb99f21cc065dbe",
"text": "This paper combines three exploratory data analysis methods, principal component methods, hierarchical clustering and partitioning, to enrich the description of the data. Principal component methods are used as preprocessing step for the clustering in order to denoise the data, transform categorical data in continuous ones or balanced groups of variables. The principal component representation is also used to visualize the hierarchical tree and/or the partition in a 3D-map which allows to better understand the data. The proposed methodology is available in the HCPC (Hierarchical Clustering on Principal Components) function of the FactoMineR package.",
"title": ""
},
{
"docid": "ab2f3971a6b4f2f22e911b2367d1ef9e",
"text": "Many multimedia systems stream real-time visual data continuously for a wide variety of applications. These systems can produce vast amounts of data, but few studies take advantage of the versatile and real-time data. This paper presents a novel model based on the Convolutional Neural Networks (CNNs) to handle such imbalanced and heterogeneous data and successfully identifies the semantic concepts in these multimedia systems. The proposed model can discover the semantic concepts from the data with a skewed distribution using a dynamic sampling technique. The paper also presents a system that can retrieve real-time visual data from heterogeneous cameras, and the run-time environment allows the analysis programs to process the data from thousands of cameras simultaneously. The evaluation results in comparison with several state-of-the-art methods demonstrate the ability and effectiveness of the proposed model on visual data captured by public network cameras.",
"title": ""
},
{
"docid": "b57006686160241bf118c2c638971764",
"text": "Reproducibility is the hallmark of good science. Maintaining a high degree of transparency in scientific reporting is essential not just for gaining trust and credibility within the scientific community but also for facilitating the development of new ideas. Sharing data and computer code associated with publications is becoming increasingly common, motivated partly in response to data deposition requirements from journals and mandates from funders. Despite this increase in transparency, it is still difficult to reproduce or build upon the findings of most scientific publications without access to a more complete workflow. Version control systems (VCS), which have long been used to maintain code repositories in the software industry, are now finding new applications in science. One such open source VCS, Git, provides a lightweight yet robust framework that is ideal for managing the full suite of research outputs such as datasets, statistical code, figures, lab notes, and manuscripts. For individual researchers, Git provides a powerful way to track and compare versions, retrace errors, explore new approaches in a structured manner, while maintaining a full audit trail. For larger collaborative efforts, Git and Git hosting services make it possible for everyone to work asynchronously and merge their contributions at any time, all the while maintaining a complete authorship trail. In this paper I provide an overview of Git along with use-cases that highlight how this tool can be leveraged to make science more reproducible and transparent, foster new collaborations, and support novel uses.",
"title": ""
},
{
"docid": "a13114518e3e2303e15bf079508d26aa",
"text": "Machine learning algorithms are optimized to model statistical properties of the training data. If the input data reflects stereotypes and biases of the broader society, then the output of the learning algorithm also captures these stereotypes. In this paper, we initiate the study of gender stereotypes in word embedding, a popular framework to represent text data. As their use becomes increasingly common, applications can inadvertently amplify unwanted stereotypes. We show across multiple datasets that the embeddings contain significant gender stereotypes, especially with regard to professions. We created a novel gender analogy task and combined it with crowdsourcing to systematically quantify the gender bias in a given embedding. We developed an efficient algorithm that reduces gender stereotype using just a handful of training examples while preserving the useful geometric properties of the embedding. We evaluated our algorithm on several metrics. While we focus on male/female stereotypes, our framework may be applicable to other types of embedding biases.",
"title": ""
},
{
"docid": "eb2a89c9308283f871df3d52d1bdc340",
"text": "Vertical NAND flash memory cell array by TCAT (terabit cell array transistor) technology is proposed. Damascened metal gate SONOS type cell in the vertical NAND flash string is realized by a unique dasiagate replacementpsila process. Also, conventional bulk erase operation of the cell is successfully demonstrated. All advantages of TCAT flash is achieved without any sacrifice of bit cost scalability.",
"title": ""
},
{
"docid": "f555a50f629bd9868e1be92ebdcbc154",
"text": "The transformation of traditional energy networks to smart grids revolutionizes the energy industry in terms of reliability, performance, and manageability by providing bi-directional communications to operate, monitor, and control power flow and measurements. However, communication networks in smart grid bring increased connectivity with increased severe security vulnerabilities and challenges. Smart grid can be a prime target for cyber terrorism because of its critical nature. As a result, smart grid security is already getting a lot of attention from governments, energy industries, and consumers. There have been several research efforts for securing smart grid systems in academia, government and industries. This article provides a comprehensive study of challenges in smart grid security, which we concentrate on the problems and proposed solutions. Then, we outline current state of the research and future perspectives.With this article, readers can have a more thorough understanding of smart grid security and the research trends in this topic.",
"title": ""
},
{
"docid": "383b029f9c10186a163f48c01e1ef857",
"text": "Neuroscience has focused on the detailed implementation of computation, studying neural codes, dynamics and circuits. In machine learning, however, artificial neural networks tend to eschew precisely designed codes, dynamics or circuits in favor of brute force optimization of a cost function, often using simple and relatively uniform initial architectures. Two recent developments have emerged within machine learning that create an opportunity to connect these seemingly divergent perspectives. First, structured architectures are used, including dedicated systems for attention, recursion and various forms of short- and long-term memory storage. Second, cost functions and training procedures have become more complex and are varied across layers and over time. Here we think about the brain in terms of these ideas. We hypothesize that (1) the brain optimizes cost functions, (2) the cost functions are diverse and differ across brain locations and over development, and (3) optimization operates within a pre-structured architecture matched to the computational problems posed by behavior. In support of these hypotheses, we argue that a range of implementations of credit assignment through multiple layers of neurons are compatible with our current knowledge of neural circuitry, and that the brain's specialized systems can be interpreted as enabling efficient optimization for specific problem classes. Such a heterogeneously optimized system, enabled by a series of interacting cost functions, serves to make learning data-efficient and precisely targeted to the needs of the organism. We suggest directions by which neuroscience could seek to refine and test these hypotheses.",
"title": ""
},
{
"docid": "7c5d9777de76a895c628e0dc171781da",
"text": "The influence of temporal and spatial variations on the microbial community composition was assessed in the unique coastal mangrove of Sundarbans using parallel 16S rRNA gene pyrosequencing. The total sediment DNA was extracted and subjected to the 16S rRNA gene pyrosequencing, which resulted in 117 Mbp of data from three experimental stations. The taxonomic analysis of the pyrosequencing data was grouped into 24 different phyla. In general, Proteobacteria were the most dominant phyla with predominance of Deltaproteobacteria, Alphaproteobacteria, and Gammaproteobacteria within the sediments. Besides Proteobacteria, there are a number of sequences affiliated to the following major phyla detected in all three stations in both the sampling seasons: Actinobacteria, Bacteroidetes, Planctomycetes, Acidobacteria, Chloroflexi, Cyanobacteria, Nitrospira, and Firmicutes. Further taxonomic analysis revealed abundance of micro-aerophilic and anaerobic microbial population in the surface layers, suggesting anaerobic nature of the sediments in Sundarbans. The results of this study add valuable information about the composition of microbial communities in Sundarbans mangrove and shed light on possible transformations promoted by bacterial communities in the sediments.",
"title": ""
},
{
"docid": "bfc663107f88522f438bd173db2b85ce",
"text": "While much progress has been made in how to encode a text sequence into a sequence of vectors, less attention has been paid to how to aggregate these preceding vectors (outputs of RNN/CNN) into fixed-size encoding vector. Usually, a simple max or average pooling is used, which is a bottom-up and passive way of aggregation and lack of guidance by task information. In this paper, we propose an aggregation mechanism to obtain a fixed-size encoding with a dynamic routing policy. The dynamic routing policy is dynamically deciding that what and how much information need be transferred from each word to the final encoding of the text sequence. Following the work of Capsule Network, we design two dynamic routing policies to aggregate the outputs of RNN/CNN encoding layer into a final encoding vector. Compared to the other aggregation methods, dynamic routing can refine the messages according to the state of final encoding vector. Experimental results on five text classification tasks show that our method outperforms other aggregating models by a significant margin. Related source code is released on our github page1.",
"title": ""
},
{
"docid": "ebb01a778c668ef7b439875eaa5682ac",
"text": "In this paper, we present a large scale off-line handwritten Chinese character database-HCL2000 which will be made public available for the research community. The database contains 3,755 frequently used simplified Chinesecharacters written by 1,000 different subjects. The writers’ information is incorporated in the database to facilitate testing on grouping writers with different background such as age, occupation, gender, and education etc. We investigate some characteristics of writing styles from different groups of writers. We evaluate HCL2000 database using three different algorithms as a baseline. We decide to publish the database along with this paper and make it free for a research purpose.",
"title": ""
},
{
"docid": "0d41fcc5ea57e42c87b4a3152d50f9d2",
"text": "This paper is concerned with a continuous-time mean-variance portfolio selection model that is formulated as a bicriteria optimization problem. The objective is to maximize the expected terminal return and minimize the variance of the terminal wealth. By putting weights on the two criteria one obtains a single objective stochastic control problem which is however not in the standard form due to the variance term involved. It is shown that this nonstandard problem can be “embedded” into a class of auxiliary stochastic linear-quadratic (LQ) problems. The stochastic LQ control model proves to be an appropriate and effective framework to study the mean-variance problem in light of the recent development on general stochastic LQ problems with indefinite control weighting matrices. This gives rise to the efficient frontier in a closed form for the original portfolio selection problem.",
"title": ""
},
{
"docid": "3f45dbb4b3bc0de55a5274170c800406",
"text": "An optimal design procedure, based on Hooke-Jeeves method, applied to a permanent magnet transverse flux motor (PMTFM) is presented in the paper. Different objective functions, as minimum cost, minimum cogging torques and maximum efficiency were considered. The results obtained for a low power sample PMTFM are given and commented.",
"title": ""
},
{
"docid": "880b4ce4c8fd19191cb996aceabdf5a7",
"text": "The study of the web as a graph is not only fascinating in its own right, but also yields valuable insight into web algorithms for crawling, searching and community discovery, and the sociological phenomena which characterize its evolution. We report on experiments on local and global properties of the web graph using two Altavista crawls each with over 200 million pages and 1.5 billion links. Our study indicates that the macroscopic structure of the web is considerably more intricate than suggested by earlier experiments on a smaller scale.",
"title": ""
},
{
"docid": "d813c010b5c70b11912ada93f0e3b742",
"text": "The rapid development of technologies introduces smartness to all organisations and communities. The Smart Tourism Destinations (STD) concept emerges from the development of Smart Cities. With technology being embedded on all organisations and entities, destinations will exploit synergies between ubiquitous sensing technology and their social components to support the enrichment of tourist experiences. By applying smartness concept to address travellers’ needs before, during and after their trip, destinations could increase their competitiveness level. This paper aims to take advantage from the development of Smart Cities by conceptualising framework for Smart Tourism Destinations through exploring tourism applications in destination and addressing both opportunities and challenges it possessed.",
"title": ""
},
{
"docid": "f1dbacae0f2b67555616bfc551e5a6ea",
"text": "The oscillating and swinging parts of a target observed by radar cause additional frequency modulation and induce sidebands in the target's Doppler frequency shift (micro-Doppler). This effect provides unique features for classification in radar systems. In this paper, the micro-Doppler spectra and range-Doppler matrices of single bird and bird flocks are obtained by simulations for linear FMCW radar. Obtained range-Doppler matrices are compared for single bird and bird flock under several scenarios and new features are proposed for classification.",
"title": ""
},
{
"docid": "2fcd7e151c658e29cacda5c4f5542142",
"text": "The connection between gut microbiota and energy homeostasis and inflammation and its role in the pathogenesis of obesity-related disorders are increasingly recognized. Animals models of obesity connect an altered microbiota composition to the development of obesity, insulin resistance, and diabetes in the host through several mechanisms: increased energy harvest from the diet, altered fatty acid metabolism and composition in adipose tissue and liver, modulation of gut peptide YY and glucagon-like peptide (GLP)-1 secretion, activation of the lipopolysaccharide toll-like receptor-4 axis, and modulation of intestinal barrier integrity by GLP-2. Instrumental for gut microbiota manipulation is the understanding of mechanisms regulating gut microbiota composition. Several factors shape the gut microflora during infancy: mode of delivery, type of infant feeding, hospitalization, and prematurity. Furthermore, the key importance of antibiotic use and dietary nutrient composition are increasingly recognized. The role of the Western diet in promoting an obesogenic gut microbiota is being confirmation in subjects. Following encouraging results in animals, several short-term randomized controlled trials showed the benefit of prebiotics and probiotics on insulin sensitivity, inflammatory markers, postprandial incretins, and glucose tolerance. Future research is needed to unravel the hormonal, immunomodulatory, and metabolic mechanisms underlying microbe-microbe and microbiota-host interactions and the specific genes that determine the health benefit derived from probiotics. While awaiting further randomized trials assessing long-term safety and benefits on clinical end points, a healthy lifestyle--including breast lactation, appropriate antibiotic use, and the avoidance of excessive dietary fat intake--may ensure a friendly gut microbiota and positively affect prevention and treatment of metabolic disorders.",
"title": ""
},
{
"docid": "f72d72975b1c16ee3d0c0ec1826301e3",
"text": "Motion layer estimation has recently emerged as a promising object tracking method. In this paper, we extend previous research on layer-based tracker by introducing the concept of background occluding layers and explicitly inferring depth ordering of foreground layers. The background occluding layers lie in front of, behind, and in between foreground layers. Each pixel in the background regions belongs to one of these layers and occludes all the foreground layers behind it. Together with the foreground ordering, the complete information necessary for reliably tracking objects through occlusion is included in our representation. An MAP estimation framework is developed to simultaneously update the motion layer parameters, the ordering parameters, and the background occluding layers. Experimental results show that under various conditions with occlusion, including situations with moving objects undergoing complex motions or having complex interactions, our tracking algorithm is able to handle many difficult tracking tasks reliably.",
"title": ""
},
{
"docid": "2a18be6c7ba24fa727406ddd75f80c0e",
"text": "Increasing evidence suggests that Alzheimer's disease pathogenesis is not restricted to the neuronal compartment, but includes strong interactions with immunological mechanisms in the brain. Misfolded and aggregated proteins bind to pattern recognition receptors on microglia and astroglia, and trigger an innate immune response characterised by release of inflammatory mediators, which contribute to disease progression and severity. Genome-wide analysis suggests that several genes that increase the risk for sporadic Alzheimer's disease encode factors that regulate glial clearance of misfolded proteins and the inflammatory reaction. External factors, including systemic inflammation and obesity, are likely to interfere with immunological processes of the brain and further promote disease progression. Modulation of risk factors and targeting of these immune mechanisms could lead to future therapeutic or preventive strategies for Alzheimer's disease.",
"title": ""
},
{
"docid": "9e68f50309814e976abff3f5a5926a57",
"text": "This paper presents a compact and broadband micro strip patch antenna array (BMPAA) with uniform linear array configuration of 4x1 elemnt for 3G applications. The 4×1 BMPAA was designed and developed by integrating new patch sha pe Hybrid E-H shape, L-probe feeding, inverted patch structure with air filled dielectric microstr ip patch antenna (MPA) element. The array was constructed using two dielectric layer arrangement with a thick air-filled substrate sandwiched betwee n a top-loaded dielectric substrate ( RT 5880) with inverting radiating patch and a ground plane . The Lprobe fed inverted hybrid E-H (LIEH) shaped BMPAA a chieves an impedance bandwidth of 17.32% referenced to the center frequency at 2.02 GHz (at VSWR ≤ 1.5), maximum achievable gain of 11.9±1dBi, and 23 dB crosspolarization level.",
"title": ""
},
{
"docid": "0d3403ce2d1613c1ea6b938b3ba9c5e6",
"text": "Extracting a set of generalizable rules that govern the dynamics of complex, high-level interactions between humans based only on observations is a high-level cognitive ability. Mastery of this skill marks a significant milestone in the human developmental process. A key challenge in designing such an ability in autonomous robots is discovering the relationships among discriminatory features. Identifying features in natural scenes that are representative of a particular event or interaction (i.e. »discriminatory features») and then discovering the relationships (e.g., temporal/spatial/spatio-temporal/causal) among those features in the form of generalized rules are non-trivial problems. They often appear as a »chicken-and-egg» dilemma. This paper proposes an end-to-end learning framework to tackle these two problems in the context of learning generalized, high-level rules of human interactions from structured demonstrations. We employed our proposed deep reinforcement learning framework to learn a set of rules that govern a behavioral intervention session between two agents based on observations of several instances of the session. We also tested the accuracy of our framework with human subjects in diverse situations.",
"title": ""
}
] | scidocsrr |
2839e2f4b745d364b86917c5507c18a0 | Provenance-Driven Data Curation Workflow Analysis | [
{
"docid": "14682892d663cb1d351f54f3534c44b2",
"text": "Feel lonely? What about reading books? Book is one of the greatest friends to accompany while in your lonely time. When you have no friends and activities somewhere and sometimes, reading book can be a great choice. This is not only for spending the time, it will increase the knowledge. Of course the b=benefits to take will relate to what kind of book that you are reading. And now, we will concern you to try reading data quality concepts methodologies and techniques as one of the reading material to finish quickly.",
"title": ""
}
] | [
{
"docid": "d5868da2fedb7498a9d6454ed939408c",
"text": "over concrete thinking Understand that virtual objects are computer generated, and they do not need to obey physical laws",
"title": ""
},
{
"docid": "10365680ff0a5da9b97727bf40432aae",
"text": "In this paper, we investigate the contextualization of news documents with geographic and visual information. We propose a matrix factorization approach to analyze the location relevance for each news document. We also propose a method to enrich the document with a set of web images. For location relevance analysis, we first perform toponym extraction and expansion to obtain a toponym list from news documents. We then propose a matrix factorization method to estimate the location-document relevance scores while simultaneously capturing the correlation of locations and documents. For image enrichment, we propose a method to generate multiple queries from each news document for image search and then employ an intelligent fusion approach to collect a set of images from the search results. Based on the location relevance analysis and image enrichment, we introduce a news browsing system named NewsMap which can support users in reading news via browsing a map and retrieving news with location queries. The news documents with the corresponding enriched images are presented to help users quickly get information. Extensive experiments demonstrate the effectiveness of our approaches.",
"title": ""
},
{
"docid": "41d546266db9b3e9ec5071e4926abb8d",
"text": "Estimating the shape of transparent and refractive objects is one of the few open problems in 3D reconstruction. Under the assumption that the rays refract only twice when traveling through the object, we present the first approach to simultaneously reconstructing the 3D positions and normals of the object's surface at both refraction locations. Our acquisition setup requires only two cameras and one monitor, which serves as the light source. After acquiring the ray-ray correspondences between each camera and the monitor, we solve an optimization function which enforces a new position-normal consistency constraint. That is, the 3D positions of surface points shall agree with the normals required to refract the rays under Snell's law. Experimental results using both synthetic and real data demonstrate the robustness and accuracy of the proposed approach.",
"title": ""
},
{
"docid": "bb65f9fec86c2f66b5b61be527b2bdf4",
"text": "Success in natural language inference (NLI) should require a model to understand both lexical and compositional semantics. However, through adversarial evaluation, we find that several state-of-the-art models with diverse architectures are over-relying on the former and fail to use the latter. Further, this compositionality unawareness is not reflected via standard evaluation on current datasets. We show that removing RNNs in existing models or shuffling input words during training does not induce large performance loss despite the explicit removal of compositional information. Therefore, we propose a compositionality-sensitivity testing setup that analyzes models on natural examples from existing datasets that cannot be solved via lexical features alone (i.e., on which a bag-of-words model gives a high probability to one wrong label), hence revealing the models’ actual compositionality awareness. We show that this setup not only highlights the limited compositional ability of current NLI models, but also differentiates model performance based on design, e.g., separating shallow bag-of-words models from deeper, linguistically-grounded tree-based models. Our evaluation setup is an important analysis tool: complementing currently existing adversarial and linguistically driven diagnostic evaluations, and exposing opportunities for future work on evaluating models’ compositional understanding.",
"title": ""
},
{
"docid": "736e70e5488d1e7e1fb05aaac08fdc5d",
"text": "Almost all current multi-view methods are slow, and thus suited to offline reconstruction. This paper presents a set o f heuristic space-carving algorithms with a focus on speed over detail. The algorithms discretize space via the 3D Delaunay triangulation, and they carve away the volumes that violate free-space or visibility constraints. Whereas sim ilar methods exist, our algorithms are fast and fully incrementa l. They encompass a dynamic event-driven approach to reconstruction that is suitable for integration with online SLAM or Structure-from-Motion. We integrate our algorithms with PTAM [ 12], and we realize a complete system that reconstructs 3D geometry from video in real-time. Experiments on typical real-world inpu ts demonstrate online performance with modest hardware. We provide run-time complexity analysis and show that the perevent processing time is independent of the number of images previously processed: a requirement for real-time operation on lengthy image sequences.",
"title": ""
},
{
"docid": "4a1c76e617fe05b7253cb508ce5119bc",
"text": "Interdental cleaning is an important part of a patient's personal oral care regimen. Water flossers, also known as oral irrigators or dental water jets, can play a vital, effective role in interdental hygiene. Evidence has shown a significant reduction in plaque biofilm from tooth surfaces and the reduction of subgingival pathogenic bacteria from pockets as deep as 6 mm with the use of water flossing. In addition, water flossers have been shown to reduce gingivitis, bleeding, probing pocket depth, host inflammatory mediators, and calculus. Educating patients on the use of a water flosser as part of their oral hygiene routine can be a valuable tool in maintaining oral health.",
"title": ""
},
{
"docid": "983ec9cdd75d0860c96f89f3c9b2f752",
"text": "Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use.",
"title": ""
},
{
"docid": "c2c1c8e97858bb6e8541bfa662ac4db8",
"text": "In exploring the question of whether a computer program is behaving creatively, it is important to be explicit, and if possible formal, about the criteria that are being applied in making judgements of creativity. We propose a formal (and rather simplified) outline of the relevant attributes of a potentially creative program. Based on this, we posit a number of formal criteria that could be applied to rate the extent to which the program has behaved creatively. A guiding principle is that the question of what computational mechanisms might lead to creative behaviour is open and empirical, and hence we should clearly distinguish between judgements about creative achievements and theoretical proposals about potentially creative mechanisms. The intention is to focus, clarify and make more concrete the debate about creative",
"title": ""
},
{
"docid": "f122373d44be16dadd479c75cca34a2a",
"text": "This paper presents the design, fabrication, and evaluation of a novel type of valve that uses an electropermanent magnet [1]. This valve is then used to build actuators for a soft robot. The developed EPM valves require only a brief (5 ms) pulse of current to turn flow on or off for an indefinite period of time. EPMvalves are characterized and demonstrated to be well suited for the control of elastomer fluidic actuators. The valves drive the pressurization and depressurization of fluidic channels within soft actuators. Furthermore, the forward locomotion of a soft, multi-actuator rolling robot is driven by EPM valves. The small size and energy-efficiency of EPM valves may make them valuable in soft mobile robot applications.",
"title": ""
},
{
"docid": "de1f35d0e19cafc28a632984f0411f94",
"text": "Large-pose face alignment is a very challenging problem in computer vision, which is used as a prerequisite for many important vision tasks, e.g, face recognition and 3D face reconstruction. Recently, there have been a few attempts to solve this problem, but still more research is needed to achieve highly accurate results. In this paper, we propose a face alignment method for large-pose face images, by combining the powerful cascaded CNN regressor method and 3DMM. We formulate the face alignment as a 3DMM fitting problem, where the camera projection matrix and 3D shape parameters are estimated by a cascade of CNN-based regressors. The dense 3D shape allows us to design pose-invariant appearance features for effective CNN learning. Extensive experiments are conducted on the challenging databases (AFLW and AFW), with comparison to the state of the art.",
"title": ""
},
{
"docid": "59786d8ea951639b8b9a4e60c9d43a06",
"text": "Compressed sensing is a technique to sample compressible signals below the Nyquist rate, whilst still allowing near optimal reconstruction of the signal. In this paper we present a theoretical analysis of the iterative hard thresholding algorithm when applied to the compressed sensing recovery problem. We show that the algorithm has the following properties (made more precise in the main text of the paper) • It gives near-optimal error guarantees. • It is robust to observation noise. • It succeeds with a minimum number of observations. • It can be used with any sampling operator for which the operator and its adjoint can be computed. • The memory requirement is linear in the problem size. Preprint submitted to Elsevier 28 January 2009 • Its computational complexity per iteration is of the same order as the application of the measurement operator or its adjoint. • It requires a fixed number of iterations depending only on the logarithm of a form of signal to noise ratio of the signal. • Its performance guarantees are uniform in that they only depend on properties of the sampling operator and signal sparsity.",
"title": ""
},
{
"docid": "210a777341f3557081d43f2580428c32",
"text": "This paper studies the problem of associating images with descriptive sentences by embedding them in a common latent space. We are interested in learning such embeddings from hundreds of thousands or millions of examples. Unfortunately, it is prohibitively expensive to fully annotate this many training images with ground-truth sentences. Instead, we ask whether we can learn better image-sentence embeddings by augmenting small fully annotated training sets with millions of images that have weak and noisy annotations (titles, tags, or descriptions). After investigating several state-of-the-art scalable embedding methods, we introduce a new algorithm called Stacked Auxiliary Embedding that can successfully transfer knowledge from millions of weakly annotated images to improve the accuracy of retrieval-based image description.",
"title": ""
},
{
"docid": "2e2dc51bc059d7d40cdae22e1e36776e",
"text": "In this thesis we present an approach to neural machine translation (NMT) that supports multiple domains in a single model and allows switching between the domains when translating. The core idea is to treat text domains as distinct languages and use multilingual NMT methods to create multi-domain translation systems; we show that this approach results in significant translation quality gains over fine-tuning. We also propose approach of unsupervised domain assignment and explore whether the knowledge of pre-specified text domains is necessary; turns out that it is after all, but also that when it is not known quite high translation quality can be reached, and even higher than with known domains in some cases. Additionally, we explore the possibility of intra-language style adaptation through zero shot translation. We show that this approach is able to style adapt, however, with unresolved text deterioration issues.",
"title": ""
},
{
"docid": "97e5f2e774b58f7533242114e5e06159",
"text": "We address the problem of phase retrieval, which is frequently encountered in optical imaging. The measured quantity is the magnitude of the Fourier spectrum of a function (in optics, the function is also referred to as an object). The goal is to recover the object based on the magnitude measurements. In doing so, the standard assumptions are that the object is compactly supported and positive. In this paper, we consider objects that admit a sparse representation in some orthonormal basis. We develop a variant of the Fienup algorithm to incorporate the condition of sparsity and to successively estimate and refine the phase starting from the magnitude measurements. We show that the proposed iterative algorithm possesses Cauchy convergence properties. As far as the modality is concerned, we work with measurements obtained using a frequency-domain optical-coherence tomography experimental setup. The experimental results on real measured data show that the proposed technique exhibits good reconstruction performance even with fewer coefficients taken into account for reconstruction. It also suppresses the autocorrelation artifacts to a significant extent since it estimates the phase accurately.",
"title": ""
},
{
"docid": "021f8f1a831e1f7a9b363bc240cc527b",
"text": "This paper presents a new graph-based approach that induces synsets using synonymy dictionaries and word embeddings. First, we build a weighted graph of synonyms extracted from commonly available resources, such as Wiktionary. Second, we apply word sense induction to deal with ambiguous words. Finally, we cluster the disambiguated version of the ambiguous input graph into synsets. Our meta-clustering approach lets us use an efficient hard clustering algorithm to perform a fuzzy clustering of the graph. Despite its simplicity, our approach shows excellent results, outperforming five competitive state-of-the-art methods in terms of F-score on three gold standard datasets for English and Russian derived from large-scale manually constructed lexical resources.",
"title": ""
},
{
"docid": "1fc6b2ffedfddb0dc476c3470c52fb13",
"text": "Exponential growth in Electronic Healthcare Records (EHR) has resulted in new opportunities and urgent needs for discovery of meaningful data-driven representations and patterns of diseases in Computational Phenotyping research. Deep Learning models have shown superior performance for robust prediction in computational phenotyping tasks, but suffer from the issue of model interpretability which is crucial for clinicians involved in decision-making. In this paper, we introduce a novel knowledge-distillation approach called Interpretable Mimic Learning, to learn interpretable phenotype features for making robust prediction while mimicking the performance of deep learning models. Our framework uses Gradient Boosting Trees to learn interpretable features from deep learning models such as Stacked Denoising Autoencoder and Long Short-Term Memory. Exhaustive experiments on a real-world clinical time-series dataset show that our method obtains similar or better performance than the deep learning models, and it provides interpretable phenotypes for clinical decision making.",
"title": ""
},
{
"docid": "52237ca8bf4168e444383f2c3813d009",
"text": "This article develops a model of a project as a payoff function that depends on the state of the world and the choice of a sequence of actions. A causal mapping, which may be incompletely known by the project team, represents the impact of possible actions on the states of the world. An underlying probability space represents available information about the state of the world. Interactions among actions and states of the world determine the complexity of the payoff function. Activities are endogenous, in that they are the result of a policy that maximizes the expected project payoff. A key concept is the adequacy of the available information about states of the world and action effects. We express uncertainty, ambiguity, and complexity in terms of information adequacy. We identify three fundamental project management strategies: instructionism, learning, and selectionism. We show that classic project management methods emphasize adequate information and instructionism, and demonstrate how modern methods fit into the three fundamental strategies. The appropriate strategy is contingent on the type of uncertainty present and the complexity of the project payoff function. Our model establishes a rigorous language that allows the project manager to judge the adequacy of the available project information at the outset, choose an appropriate combination of strategies, and set a supporting project infrastructure—that is, systems for planning, coordination and incentives, and monitoring. (Project Management; Uncertainty; Complexity; Instructionalism; Project Selection; Ambiguity )",
"title": ""
},
{
"docid": "294ac617bbd49afe95c278836fa4c9ec",
"text": "We present a practical lock-free shared data structure that efficiently implements the operations of a concurrent deque as well as a general doubly linked list. The implementation supports parallelism for disjoint accesses and uses atomic primitives which are available in modern computer systems. Previously known lock-free algorithms of doubly linked lists are either based on non-available atomic synchronization primitives, only implement a subset of the functionality, or are not designed for disjoint accesses. Our algorithm only requires single-word compare-and-swap atomic primitives, supports fully dynamic list sizes, and allows traversal also through deleted nodes and thus avoids unnecessary operation retries. We have performed an empirical study of our new algorithm on two different multiprocessor platforms. Results of the experiments performed under high contention show that the performance of our implementation scales linearly with increasing number of processors. Considering deque implementations and systems with low concurrency, the algorithm by Michael shows the best performance. However, as our algorithm is designed for disjoint accesses, it performs significantly better on systems with high concurrency and non-uniform memory architecture. © 2008 Elsevier Inc. All rights reserved.",
"title": ""
},
{
"docid": "630baadcd861e58e0f36ba3a4e52ffd2",
"text": "The handshake gesture is an important part of the social etiquette in many cultures. It lies at the core of many human interactions, either in formal or informal settings: exchanging greetings, offering congratulations, and finalizing a deal are all activities that typically either start or finish with a handshake. The automated detection of a handshake can enable wide range of pervasive computing scanarios; in particular, different types of information can be exchanged and processed among the handshaking persons, depending on the physical/logical contexts where they are located and on their mutual acquaintance. This paper proposes a novel handshake detection system based on body sensor networks consisting of a resource-constrained wrist-wearable sensor node and a more capable base station. The system uses an effective collaboration technique among body sensor networks of the handshaking persons which minimizes errors associated with the application of classification algorithms and improves the overall accuracy in terms of the number of false positives and false negatives.",
"title": ""
},
{
"docid": "19fba15978f12e7892e727afb4177cae",
"text": "ion makes it possible to build non-recursive functions directly inside Calculus of Constructions terms, without giving a name to them, but for recursive functions the Fixpoint command always gives a name to the defined function. It mixes the two operations: first the description of a recursive function, second the definition of a constant having this function as value. With the fix construct, we can have only the first operation; in this sense, it is similar to the abstraction construct. Here is the syntax for this construct: As with the Fixpoint command, the {struct ai} is not mandatory if p = l. In the particular case where one defines only one recursive function the two occurrences of the identifier f must coincide. This identifier is used to denote the recursive function being defined but it can only be used inside the expression expr. The similarity between Fixpoint and fix makes it easier to understand the need for the various parts of this construct. For instance, the mul t2 function could also have been declared in the following manner: Definition mult2' : nat~nat := fix f (n:nat) : nat .= match n with 0 =} 0 I S p =} S (S (f p)) end. Here we have willingly changed the name given to the recursive function inside the fix construct to underline the fact that f is bound only inside the construct. Thus, this identifier has no relation with the name under which the function will be known. 6.4 Polymorphic Types 175 6.4 Polymorphic Types Among the operations that one can perform on binary trees carrying integer values, many rely only on the tree structure, but are independent of the fact that the values are integer values. For instance, we can compute the size or the height of a tree without looking at the values. It is sensible to define a general type of tree, in which the type of elements is left as a parameter, and use instances of this general type according to the needs of our algorithms. This is similar to the polymorphic data structures available in conventional functional languages, or the generic data structures of Ada. We describe this notion of polymorphism on lists, pairs, etc. 6.4.1 Polymorphic Lists The Coq system provides a theory of polymorphic lists in the package List. Require Import List. Print list. Inductive list (A : Set) : Set := nil : list A / cons : A -+ list A -+ list A For nil: Argument A is implicit For cons: Argument A is implicit For list: Argument scope is [type_scope] For nil: Argument scope is [type_scope] For cons: Argument scopes are [type_scope __ ] The Coq system provides a notation for lists, so that the expression\" cons a l\" is actually denoted \"a: : l.\" We see here that the inductive type being defined does not occur as a simple identifier, but as a dependent type with one argument. The value of this argument is always A, the parameter of the definition, as given in the first line of the definition. This definition behaves as if we were actually defining a whole family of inductive types, indexed over the sort Set. This illustrates the construction of higher-order types that we saw in Chap. 4. There may be several parameters in an inductive definition. When parameters are provided, they must appear at every use of the type being defined. Everything happens as if the inductive type had been declared in a section, with a context where A is bound as a variable. Thus, the definition above is equivalent to a definition of the following form: Section define_lists. Variable A : Set. Inductive list' : Set := I nil' : list' I cons' : A -+ list' -+ list'. End define_lists. 176 6 Inductive Data Types This analogy between polymorphic inductive types and simple inductive types defined inside a section is helpful to understand the form of the induction principle. Let us first study the type of the induction principle as it would have been constructed inside the section: list'_indO : 'v'P : list' --+Prop, P nil' --+ ('v'(x:A)(l:list'), P 1 --+ P (cons' x 1»--+ 'v'x:list', P x. When the section is closed, the variable A is discharged, the type list' must be abstracted over A, the constructors, too, and the induction principle must take these changes into account: Check list'. list' : Set--+Set Check nil'. nil' : 'v' A:Set, list' A Check cons'. cons' : 'v' A:Set, A --+ list' A --+ list' A Check list'_ind. list' ind: 'v' (A:Set)(P:list' A --+ Prop), P (nil' A) --+{V (a:A)(l:list' A), P l--+ P (cons' A a l)) --+ 'v' l:list' A, P l From a practical point of view, an important characteristic of parametric inductive definitions is that the universal quantification appears before the universal quantification over the property that is the object of the proof by induction. This characteristic will be important in comparison with the inductive principles for inductive definitions of variably dependent types (see Sect. 6.5.2) Recursive functions and pattern matching on polymorphic types can be performed in the same manner as for the inductive types of the previous sections. However, there is an important difference; the parameters must not appear in the left-hand side of pattern matching clauses. For instance, the function to concatenate polymorphic lists is defined by an expression of this form: Fixpoint app (A:Set) (1 m:list A){struct I} : list A := match 1 with I nil :::} m I cons a 11 :::} cons a (app A 11 m) end. In this pattern matching construct, nil appears in the left-hand side of its clause without its Set argument. The same occurs for the cons constructor, 6.4 Polymorphic Types 177 even though cons normally has three arguments; the pattern only has two. The reasoh for removing the parameter arguments from the constructors is that these parameters cannot be bound in the pattern. The type A for the values is already fixed because an expression of type \"list A\" is being analyzed by the pattern matching construct. In the right-hand side of the second clause, cons also appears with two arguments, but this is because the function is defined with the first argument being implicit (see Sect. 4.2.3.1). Use of implicit arguments for functions manipulating polymorphic types is frequent. For instance, the function app also has its first argument as an implicit argument. For this function, the Coq system also provides an infix notation, where \"app h h\" is actually denoted \"h++h.\" Exercise 6.34 Build a polymorphic function that takes a list as argument and returns a list containing the first two elements when they exist. Exercise 6.35 Build a function that takes a natural number, n, and a list as arguments and returns the list containing the first n elements of the list when they exist. Exercise 6.36 Build a function that takes a list of integers as argument and returns the sum of these numbers. Exercise 6.37 Build a function that takes a natural number n as argument and builds a list containing n occurrences of the number one. Exercise 6.38 Build a function that takes a number n and returns the list containing the integers from 1 to n, in this order. 6.4.2 The option Type Polymorphic types need not be truly recursive. A frequent example is the option type that is well-adapted to describe a large class of partial functions. This type is also present in conventional functional programming languages. Its inductive definition has the following form: Print option. Inductive option (A:Set) : Set := Some: A-+option A / None: option A For Some: Argument A is implicit For None: Argument A is implicit For option: Argument scope is [type_scope] For Some: Argument scopes are [type_scope _] For None: Argument scope is [type_scope] 178 6 Inductive Data Types When we need to define a function that is not total from a type A to a type B, it is often possible to describe it as a total function from A to \"option B,\" with the convention that the value \"None\" is the result when the function is not defined and the value is \"Some y\" when the function would have been defined with value y. For instance, the Coq library contains a pred function of type nat---+nat that maps any natural number to its predecessor (when it exists) and maps zero to itself. A partial function could have been defined that does not have a value for the number zero. The definition would have been as follows: Definition pred_option (n:nat) : option nat := match n with 0 => None I S P => Some pend. To use a value of the option type, a case analysis is necessary, to express explicitly how the computation proceeds when no true value is given. For instance, the function that returns the predecessor's predecessor can be defined as follows: Definition pred2_option (n:nat) : option nat := match pred_option n with I None => None I Some p => pred_option p end. As a second example, we can consider the function that returns the nth element of a list. The Coq library provides a function called nth for this requirement but that function takes an extra argument which is used for the result when the list has less than n elements. An alternative could be to define a function whose result belongs in the option type. This function can be defined using simultaneous pattern matching on the number and the list. Both arguments decrease at each recursive call, so that the principal recursion argument could be either of them. Here is one of the two possible versions: Fixpoint nth_option (A:Set) (n:nat) (l:list A){struct l} : option A := match n, 1 with I 0, cons a tl => Some a I S p, cons a tl => nth_option A p tl I n, nil => None end. Exercise 6.39 Define the other variant \"nth_option'.\" The arguments are given in the same order, but the principal argument is the number n. Prove that both functions always give the same result when applied on the same input. Exercise 6.40 * Prove V(A:Set)(n:nat)(l:list A), nth_option A n 1 = None ---+ length 1 < n. 6.4 Polymorphic Types 179 Exercise 6.41 * Define a function that maps a type A in sort Set, a function f of type A---+booL, and a list L to the first element :z: in L such that \"f x\" is true. 6.4.3 The Type of Pairs Pairs prov",
"title": ""
}
] | scidocsrr |
ce59b445dc3920118a570526fca01920 | Designing for the Safety of Pedestrians , Cyclists , and Motorists in Urban Environments | [
{
"docid": "99aaea5ec8f90994a9fa01bfc0131ee2",
"text": "Beyond simply acting as thoroughfares for motor vehicles, urban streets often double as public spaces. Urban streets are places where people walk, shop, meet, and generally engage in the diverse array of social and recreational activities that, for many, are what makes urban living enjoyable. And beyond even these quality-of-life benefits, pedestrian-friendly urban streets have been increasingly linked to a host of highly desirable social outcomes, including economic growth and innovation (Florida, ), improvements in air quality (Frank et al., ), and increased physical fitness and health (Frank et al., ), to name only a few. For these reasons, many groups and individuals encourage the design of “livable” streets, or streets that seek to better integrate the needs of pedestrians and local developmental objectives into a roadway’s design. There has been a great deal of work describing the characteristics of livable streets (see Duany et al., ; Ewing, ; Jacobs, ), and there is general consensus on their characteristics: livable streets, at a minimum, seek to enhance the pedestrian character of the street by providing a continuous sidewalk network and incorporating design features that minimize the negative impacts of motor vehicle use on pedestrians. Of particular importance is the role played by roadside features such as street trees and on-street parking, which serve to buffer the pedestrian realm from potentially hazardous oncoming traffic, and to provide spatial definition to the public right-of-way. Indeed, many livability advocates assert that trees, as much as any other single feature, can play a central role in enhancing a roadway’s livability (Duany et al., ; Jacobs, ). While most would agree that the inclusion of trees and other streetscape features enhances the aesthetic quality of a roadway, there is substantive disagreement about their safety effects (see Figure ). Conventional engineering practice encourages the design of roadsides that will allow a vehicle leaving the travelway to safely recover before encountering a potentially hazardous fixed object. When one considers the aggregate statistics on run-off-roadway crashes, there is indeed ",
"title": ""
}
] | [
{
"docid": "4b494016220eb5442642e34c3ed2d720",
"text": "BACKGROUND\nTreatments for alopecia are in high demand, but not all are safe and reliable. Dalteparin and protamine microparticles (D/P MPs) can effectively carry growth factors (GFs) in platelet-rich plasma (PRP).\n\n\nOBJECTIVE\nTo identify the effects of PRP-containing D/P MPs (PRP&D/P MPs) on hair growth.\n\n\nMETHODS & MATERIALS\nParticipants were 26 volunteers with thin hair who received five local treatments of 3 mL of PRP&D/P MPs (13 participants) or PRP and saline (control, 13 participants) at 2- to 3-week intervals and were evaluated for 12 weeks. Injected areas comprised frontal or parietal sites with lanugo-like hair. Experimental and control areas were photographed. Consenting participants underwent biopsies for histologic examination.\n\n\nRESULTS\nD/P MPs bind to various GFs contained in PRP. Significant differences were seen in hair cross-section but not in hair numbers in PRP and PRP&D/P MP injections. The addition of D/P MPs to PRP resulted in significant stimulation in hair cross-section. Microscopic findings showed thickened epithelium, proliferation of collagen fibers and fibroblasts, and increased vessels around follicles.\n\n\nCONCLUSION\nPRP&D/P MPs and PRP facilitated hair growth but D/P MPs provided additional hair growth. The authors have indicated no significant interest with commercial supporters.",
"title": ""
},
{
"docid": "cc85e917ca668a60461ba6848e4c3b42",
"text": "In this paper a generic method for fault detection and isolation (FDI) in manufacturing systems considered as discrete event systems (DES) is presented. The method uses an identified model of the closed loop of plant and controller built on the basis of observed fault free system behavior. An identification algorithm known from literature is used to determine the fault detection model in form of a non-deterministic automaton. New results of how to parameterize this algorithm are reported. To assess the fault detection capability of an identified automaton, probabilistic measures are proposed. For fault isolation, the concept of residuals adapted for DES is used by defining appropriate set operations representing generic fault symptoms. The method is applied to a case study system.",
"title": ""
},
{
"docid": "5561d77226a21b2f2f4598709f36b8b2",
"text": "Presence of crystals in urine sediment is not an infrequent finding, and its observation does not have any especial clinical signification in most situations. Some factors as pH, temperature, and emission time of the urine may play a part in their formation. Nevertheless, in some diseases such as congenital anomalies or severe liver pathology, some types of crystals (cystine, tyrosine, and leucine) are quite rare and its identification is very important. In urinary cytopathology, crystals such as uric acid, calcium oxalate dihydrate, and ammonium magnesium phosphate (struvite) are among those that may be frequently observed in urine sediment. Taking into account its morphology, they are usually named as ‘‘lemons’’ (uric acid), ‘‘envelopes’’ (calcium oxalate dihydrate), and ‘‘coffin linds’’ (struvite). Here, a type of crystal (calcium oxalate monohydrate), not as frequent as those mentioned earlier is showed (Fig. C-1). The image belongs to a voided urine smear from a patient suffering acute renal failure. Calcium oxalate monohydrate crystals vary in size and, depending on their position, they give a different projection showing the typical ‘‘dumbbell’’ shape or round–oval morphology with a central depression (they are also described as ‘‘hour-glass\" or ‘‘sheaf’’). Factors such as excessive consumption of certain aliments rich in oxalates (spinaches, asparagus, tomatoes, etc), a decrease in the urinary pH, and a scant diuresis may contribute to its development. The presence of calcium oxalate crystals (mono or dihydrate) in the urine sediment does not mean necessary the existence of calculi in the urinary tract. In fresh and unstained urine samples, and depending of their size, this type of crystals must be differentiated from erythrocytes, yeast, and parasitic ova, especially Enterobius vermicularis. However, its high refraction index can solve the problem.",
"title": ""
},
{
"docid": "f14e128c17a95e8f549f822dad408133",
"text": "Capparis Spinosa L. is an aromatic plant growing wild in dry regions around the Mediterranean basin. Capparis Spinosa was shown to possess several properties such as antioxidant, antifungal, and anti-hepatotoxic actions. In this work, we aimed to evaluate immunomodulatory properties of Capparis Spinosa leaf extracts in vitro on human peripheral blood mononuclear cells (PBMCs) from healthy individuals. Using MTT assay, we identified a range of Capparis Spinosa doses, which were not toxic. Unexpectedly, we found out that Capparis Spinosa aqueous fraction exhibited an increase in cell metabolic activity, even though similar doses did not affect cell proliferation as shown by CFSE. Interestingly, Capparis Spinosa aqueous fraction appeared to induce an overall anti-inflammatory response through significant inhibition of IL-17 and induction of IL-4 gene expression when PBMCs were treated with the non toxic doses of 100 and/or 500 μg/ml. Phytoscreening analysis of the used Capparis Spinosa preparations showed that these contain tannins; sterols, alkaloids; polyphenols and flavonoids. Surprisingly, quantification assays showed that our Capparis Spinosa preparation contains low amounts of polyphenols relative to Capparis Spinosa used in other studies. This Capparis Spinosa also appeared to act as a weaker scavenging free radical agent as evidenced by DPPH radical scavenging test. Finally, polyphenolic compounds including catechin, caffeic acid, syringic acid, rutin and ferulic acid were identified by HPLC, in the Capparis spinosa preparation. Altogether, these findings suggest that our Capparis Spinosa preparation contains interesting compounds, which could be used to suppress IL-17 and to enhance IL-4 gene expression in certain inflammatory situations. Other studies are underway in order to identify the compound(s) underlying this effect.",
"title": ""
},
{
"docid": "4f6f441129aa47b09984f893b910035f",
"text": "Hydroxycinnamic acids (such as ferulic, caffeic, sinapic, and p-coumaric acids) are a group of compounds highly abundant in food that may account for about one-third of the phenolic compounds in our diet. Hydroxycinnamic acids have gained an increasing interest in health because they are known to be potent antioxidants. These compounds have been described as chain-breaking antioxidants acting through radical scavenging activity, that is related to their hydrogen or electron donating capacity and to the ability to delocalize/stabilize the resulting phenoxyl radical within their structure. The free radical scavenger ability of antioxidants can be predicted from standard one-electron potentials. Thus, voltammetric methods have often been applied to characterize a diversity of natural and synthetic antioxidants essentially to get an insight into their mechanism and also as an important tool for the rational design of new and potent antioxidants. The structure-property-activity relationships (SPARs) correlations already established for this type of compounds suggest that redox potentials could be considered a good measure of antioxidant activity and an accurate guideline on the drug discovery and development process. Due to its magnitude in the antioxidant field, the electrochemistry of hydroxycinnamic acid-based antioxidants is reviewed highlighting the structure-property-activity relationships (SPARs) obtained so far.",
"title": ""
},
{
"docid": "a39b83010f5c4094bc7636fd550a71bd",
"text": "Trend following (TF) is trading philosophy by which buying/selling decisions are made solely according to the observed market trend. For many years, many manifestations of TF such as a software program called Turtle Trader, for example, emerged in the industry. Surprisingly little has been studied in academic research about its algorithms and applications. Unlike financial forecasting, TF does not predict any market movement; instead it identifies a trend at early time of the day, and trades automatically afterwards by a pre-defined strategy regardless of the moving market directions during run time. Trend following trading has been popular among speculators. However it remains as a trading method where human judgment is applied in setting the rules (aka the strategy) manually. Subsequently the TF strategy is executed in pure objective operational manner. Finding the correct strategy at the beginning is crucial in TF. This usually involves human intervention in first identifying a trend, and configuring when to place an order and close it out, when certain conditions are met. In this paper, we evaluated and compared a collection of TF algorithms that can be programmed in a computer system for automated trading. In particular, a new version of TF called trend recalling model is presented. It works by partially matching the current market trend with one of the proven successful patterns from the past. Our experiments based on real stock market data show that this method has an edge over the other trend following methods in profitability. The results show that TF however is still limited by market fluctuation (volatility), and the ability to identify trend signal. 2012 Elsevier Ltd. All rights reserved.",
"title": ""
},
{
"docid": "3726f6ddd4166c431f0847cdf23eb415",
"text": "We introduce an approach that leverages surface normal predictions, along with appearance cues, to retrieve 3D models for objects depicted in 2D still images from a large CAD object library. Critical to the success of our approach is the ability to recover accurate surface normals for objects in the depicted scene. We introduce a skip-network model built on the pre-trained Oxford VGG convolutional neural network (CNN) for surface normal prediction. Our model achieves state-of-the-art accuracy on the NYUv2 RGB-D dataset for surface normal prediction, and recovers fine object detail compared to previous methods. Furthermore, we develop a two-stream network over the input image and predicted surface normals that jointly learns pose and style for CAD model retrieval. When using the predicted surface normals, our two-stream network matches prior work using surface normals computed from RGB-D images on the task of pose prediction, and achieves state of the art when using RGB-D input. Finally, our two-stream network allows us to retrieve CAD models that better match the style and pose of a depicted object compared with baseline approaches.",
"title": ""
},
{
"docid": "54e5cd296371e7e058a00b1835251242",
"text": "In this paper, a quasi-millimeter-wave wideband bandpass filter (BPF) is designed by using a microstrip dual-mode ring resonator and two folded half-wavelength resonators. Based on the transmission line equivalent circuit of the filter, variations of the frequency response of the filter versus the circuit parameters are investigated first by using the derived formulas and circuit simulators. Then a BPF with a 3dB fractional bandwidth (FBW) of 20% at 25.5 GHz is designed, which realizes the desired wide passband, sharp skirt property, and very wide stopband. Finally, the designed BPF is fabricated, and its measured frequency response is found agree well with the simulated result.",
"title": ""
},
{
"docid": "b69f2c426f86ad0e07172eb4d018b818",
"text": "Versatile motor skills for hitting and throwing motions can be observed in humans already in early ages. Future robots require high power-to-weight ratios as well as inherent long operational lifetimes without breakage in order to achieve similar perfection. Robustness due to passive compliance and high-speed catapult-like motions as possible with fast energy release are further beneficial characteristics. Such properties can be realized with antagonistic muscle-based designs. Additionally, control algorithms need to exploit the full potential of the robot. Learning control is a promising direction due to its the potential to capture uncertainty and control of complex systems. The aim of this paper is to build a robotic arm that is capable of generating high accelerations and sophisticated trajectories as well as enable exploration at such speeds for robot learning approaches. Hence, we have designed a light-weight robot arm with moving masses below 700 g with powerful antagonistic compliant actuation with pneumatic artificial muscles. Rather than recreating human anatomy, our system is designed to be easy to control in order to facilitate future learning of fast trajectory tracking control. The resulting robot is precise at low speeds using a simple PID controller while reaching high velocities of up to 12 m/s in task space and 1500 deg/s in joint space. This arm will enable new applications in fast changing and uncertain task like robot table tennis while being a sophisticated and reproducible test-bed for robot skill learning methods. Construction details are available.",
"title": ""
},
{
"docid": "236dc9aa7d8c78698cbff770184db32b",
"text": "The prevalence of diet-related chronic diseases strongly impacts global health and health services. Currently, it takes training and strong personal involvement to manage or treat these diseases. One way to assist with dietary assessment is through computer vision systems that can recognize foods and their portion sizes from images and output the corresponding nutritional information. When multiple food items may exist, a food segmentation stage should also be applied before recognition. In this study, we propose a method to detect and segment the food of already detected dishes in an image. The method combines region growing/merging techniques with a deep CNN-based food border detection. A semi-automatic version of the method is also presented that improves the result with minimal user input. The proposed methods are trained and tested on non-overlapping subsets of a food image database including 821 images, taken under challenging conditions and annotated manually. The automatic and semi-automatic dish segmentation methods reached average accuracies of 88% and 92%, respectively, in roughly 0.5 seconds per image.",
"title": ""
},
{
"docid": "6a59641369fefcb7c7a917718f1d067c",
"text": "This paper presents an adaptive fuzzy sliding-mode dynamic controller (AFSMDC) of the car-like mobile robot (CLMR) for the trajectory tracking issue. First, a kinematics model of the nonholonomic CLMR is introduced. Then, according to the Lagrange formula, a dynamic model of the CLMR is created. For a real time trajectory tracking problem, an optimal controller capable of effectively driving the CLMR to track the desired trajectory is necessary. Therefore, an AFSMDC is proposed to accomplish the tracking task and to reduce the effect of the external disturbances and system uncertainties of the CLMR. The proposed controller could reduce the tracking errors between the output of the velocity controller and the real velocity of the CLMR. Therefore, the CLMR could track the desired trajectory without posture and orientation errors. Additionally, the stability of the proposed controller is proven by utilizing the Lyapunov stability theory. Finally, the simulation results validate the effectiveness of the proposed AFSMDC.",
"title": ""
},
{
"docid": "d103d856c51a4744d563dff2eff224a7",
"text": "Automotive engines is an important application for model-based diagnosis because of legislative regulations. A diagnosis system for the air-intake system of a turbo-charged engine is constructed. The design is made in a systematic way and follows a framework of hypothesis testing. Different types of sensor faults and leakages are considered. It is shown how many different types of fault models, e.g., additive and multiplicative faults, can be used within one common diagnosis system, and using the same underlying design principle. The diagnosis system is experimentally validated on a real engine using industry-standard dynamic test-cycles.",
"title": ""
},
{
"docid": "f19057578e0fce86e57d762d5805e676",
"text": "A polymer network of intranuclear lamin filaments underlies the nuclear envelope and provides mechanical stability to the nucleus in metazoans. Recent work demonstrates that the expression of A-type lamins scales positively with the stiffness of the cellular environment, thereby coupling nuclear and extracellular mechanics. Using the spectrin-actin network at the erythrocyte plasma membrane as a model, we contemplate how the relative stiffness of the nuclear scaffold impinges on the growing number of interphase-specific nuclear envelope remodeling events, including recently discovered, nuclear envelope-specialized quality control mechanisms. We suggest that a stiffer lamina impedes these remodeling events, necessitating local lamina remodeling and/or concomitant scaling of the efficacy of membrane-remodeling machineries that act at the nuclear envelope.",
"title": ""
},
{
"docid": "e23cebac640a47643b3a3249eae62f89",
"text": "Objective: To assess the factors that contribute to impaired quinine clearance in acute falciparum malaria. Patients: Sixteen adult Thai patients with severe or moderately severe falciparum malaria were studied, and 12 were re-studied during convalescence. Methods: The clearance of quinine, dihydroquinine (an impurity comprising up to 10% of commercial quinine formulations), antipyrine (a measure of hepatic mixed-function oxidase activity), indocyanine green (ICG) (a measure of liver blood flow), and iothalamate (a measure of glomerular filtration rate) were measured simultaneously, and the relationship of these values to the␣biotransformation of quinine to the active metabolite 3-hydroxyquinine was assessed. Results: During acute malaria infection, the systemic clearance of quinine, antipyrine and ICG and the biotransformation of quinine to 3-hydroxyquinine were all reduced significantly when compared with values during convalescence. Iothalamate clearance was not affected significantly and did not correlate with the clearance of any of the other compounds. The clearance of total and free quinine correlated significantly with antipyrine clearance (r s = 0.70, P = 0.005 and r s = 0.67, P = 0.013, respectively), but not with ICG clearance (r s = 0.39 and 0.43 respectively, P > 0.15). In a multiple regression model, antipyrine clearance and plasma protein binding accounted for 71% of the variance in total quinine clearance in acute malaria. The pharmacokinetic properties of dihydroquinine were generally similar to those of quinine, although dihydroquinine clearance was less affected by acute malaria. The mean ratio of quinine to 3-hydroxyquinine area under the plasma concentration-time curve (AUC) values in acute malaria was 12.03 compared with 6.92 during convalescence P=0.01. The mean plasma protein binding of 3-hydroxyquinine was 46%, which was significantly lower than that of quinine (90.5%) or dihydroquinine (90.5%). Conclusion: The reduction in quinine clearance in acute malaria results predominantly from a disease-induced dysfunction in hepatic mixed-function oxidase activity (principally CYP 3A) which impairs the conversion of quinine to its major metabolite, 3-hydroxyquinine. The metabolite contributes approximately 5% of the antimalarial activity of the parent compound in malaria, but up to 10% during convalescence.",
"title": ""
},
{
"docid": "b66846f076d41c8be3f5921cc085d997",
"text": "We present a novel hierarchical force-directed method for drawing large graphs. The algorithm produces a graph embedding in an Euclidean space E of any dimension. A two or three dimensional drawing of the graph is then obtained by projecting a higher-dimensional embedding into a two or three dimensional subspace of E. Projecting high-dimensional drawings onto two or three dimensions often results in drawings that are “smoother” and more symmetric. Among the other notable features of our approach are the utilization of a maximal independent set filtration of the set of vertices of a graph, a fast energy function minimization strategy, efficient memory management, and an intelligent initial placement of vertices. Our implementation of the algorithm can draw graphs with tens of thousands of vertices using a negligible amount of memory in less than one minute on a mid-range PC.",
"title": ""
},
{
"docid": "45d72f6c70c034122c86301be9531e97",
"text": "Multiple Classifier Systems (MCS) have been widely studied as an alternative for increasing accuracy in pattern recognition. One of the most promising MCS approaches is Dynamic Selection (DS), in which the base classifiers are selected on the fly, according to each new sample to be classified. This paper provides a review of the DS techniques proposed in the literature from a theoretical and empirical point of view. We propose an updated taxonomy based on the main characteristics found in a dynamic selection system: (1) The methodology used to define a local region for the estimation of the local competence of the base classifiers; (2) The source of information used to estimate the level of competence of the base classifiers, such as local accuracy, oracle, ranking and probabilistic models, and (3) The selection approach, which determines whether a single or an ensemble of classifiers is selected. We categorize the main dynamic selection techniques in the DS literature based on the proposed taxonomy. We also conduct an extensive experimental analysis, considering a total of 18 state-of-the-art dynamic selection techniques, as well as static ensemble combination and single classification models. To date, this is the first analysis comparing all the key DS techniques under the same experimental protocol. Furthermore, we also present several perspectives and open research questions that can be used as a guide for future works in this domain. © 2017 Elsevier B.V. All rights reserved.",
"title": ""
},
{
"docid": "e1b7fc500b064f359c67772d046b4cde",
"text": "We propose a novel regularization technique for supervised and semi-supervised training of large models like deep neural network. By including into objective function the local smoothness of predictive distribution around each training data point, not only were we able to extend the work of (Goodfellow et al. (2015)) to the setting of semi-supervised training, we were also able to eclipse current state of the art supervised and semi-supervised methods on the permutation invariant MNIST classification task.",
"title": ""
},
{
"docid": "529ca36809a7052b9495279aa1081fcc",
"text": "To effectively control complex dynamical systems, accurate nonlinear models are typically needed. However, these models are not always known. In this paper, we present a data-driven approach based on Gaussian processes that learns models of quadrotors operating in partially unknown environments. What makes this challenging is that if the learning process is not carefully controlled, the system will go unstable, i.e., the quadcopter will crash. To this end, barrier certificates are employed for safe learning. The barrier certificates establish a non-conservative forward invariant safe region, in which high probability safety guarantees are provided based on the statistics of the Gaussian Process. A learning controller is designed to efficiently explore those uncertain states and expand the barrier certified safe region based on an adaptive sampling scheme. Simulation results are provided to demonstrate the effectiveness of the proposed approach.",
"title": ""
},
{
"docid": "7569c7f3983c608151fb5bbb093b3293",
"text": "A unilateral probe-fed rectangular dielectric resonator antenna (DRA) with a very small ground plane is investigated. The small ground plane simultaneously works as an excitation patch that excites the fundamental TE111 mode of the DRA, which is an equivalent magnetic dipole. By combining this equivalent magnetic dipole and the electric dipole of the probe, a lateral radiation pattern can be obtained. This complementary antenna has the same E- and H-Planes patterns with low back radiation. Moreover, the cardioid-shaped pattern can be easily steered in the horizontal plane by changing the angular position of the patch (ground). To verify the idea, a prototype operating in 3.5-GHz long term evolution band (3.4–3.6 GHz) was fabricated and measured, with reasonable agreement between the measured and simulated results obtained. It is found that the measured 15-dB front-to-back-ratio bandwidth is 10.9%.",
"title": ""
},
{
"docid": "6e9e448eb2313ca76106684e6c126c55",
"text": "We compared anthropometric and fitness performance data from graduate male youth players from an elite soccer academy who on leaving the institution were either successful or not in progressing to higher standards of play. Altogether, 161 players were grouped according to whether they achieved international or professional status or remained amateur. Measures were taken across three age categories (under 14, 15 and 16 years of age). Players were assessed using standard measures of anthropometric and fitness characteristics. The skeletal age of players was also measured to determine maturity status. Multivariate analysis (MANCOVA) identified a significant (p<0.001) effect for playing status. Univariate analysis revealed a significant difference in maturity status in amateurs and professionals versus internationals (p<0.05), in body mass in professionals versus amateurs (d=0.56, p<0.05), in height (d=0.85, p<0.01) and maximal anaerobic power (d=0.79, p<0.01) in both professionals and internationals versus amateurs. There was also a significant difference in counter-movement jump (d=0.53, p<0.05) and 40-m sprint time (d=0.50, p<0.05) in internationals versus amateurs, as well as a significant main effect for age and playing position (p<0.001). Significant differences were reported for maturity status, body mass, height, peak concentric torque, maximal anaerobic power, and sprint and jump performance with results dependant on age category and playing position. These results suggest that anthropometric and fitness assessments of elite youth soccer players can play a part in determining their chances of proceeding to higher achievement levels.",
"title": ""
}
] | scidocsrr |
09b95bca11476f6d8dd9131fcd29a4a7 | A Hierarchical Model of Approach and Avoidance Achievement Motivation | [
{
"docid": "2a1f1576ab73e190dce400dedf80df36",
"text": "No wonder you activities are, reading will be always needed. It is not only to fulfil the duties that you need to finish in deadline time. Reading will encourage your mind and thoughts. Of course, reading will greatly develop your experiences about everything. Reading motivation reconsidered the concept of competence is also a way as one of the collective books that gives many advantages. The advantages are not only for you, but for the other peoples with those meaningful benefits.",
"title": ""
},
{
"docid": "c56c71775a0c87f7bb6c59d6607e5280",
"text": "A correlational study examined relationships between motivational orientation, self-regulated learning, and classroom academic performance for 173 seventh graders from eight science and seven English classes. A self-report measure of student self-efficacy, intrinsic value, test anxiety, self-regulation, and use of learning strategies was administered, and performance data were obtained from work on classroom assignments. Self-efficacy and intrinsic value were positively related to cognitive engagement and performance. Regression analyses revealed that, depending on the outcome measure, self-regulation, self-efficacy, and test anxiety emerged as the best predictors of performance. Intrinsic value did not have a direct influence on performance but was strongly related to self-regulation and cognitive strategy use, regardless of prior achievement level. The implications of individual differences in motivational orientation for cognitive engagement and self-regulation in the classroom are discussed.",
"title": ""
}
] | [
{
"docid": "88f43c85c32254a5c2859e983adf1c43",
"text": "This study observed naturally occurring emergent leadership behavior in distributed virtual teams. The goal of the study was to understand how leadership behaviors emerge and are distributed in these kinds of teams. Archived team interaction captured during the course of a virtual collaboration exercise was analyzed using an a priori content analytic scheme derived from behaviorally-based leadership theory to capture behavior associated with leadership in virtual environments. The findings lend support to the notion that behaviorally-based leadership theory can provide insights into emergent leadership in virtual environments. This study also provides additional insights into the patterns of leadership that emerge in virtual environments and relationship to leadership behaviors.",
"title": ""
},
{
"docid": "055071ff6809eaea4eeb0a9f64e49274",
"text": "Compressed bitmap indexes are used in systems such as Git or Oracle to accelerate queries. They represent sets and often support operations such as unions, intersections, differences, and symmetric differences. Several important systems such as Elasticsearch, Apache Spark, Netflix’s Atlas, LinkedIn’s Pivot, Metamarkets’ Druid, Pilosa, Apache Hive, Apache Tez, Microsoft Visual Studio Team Services and Apache Kylin rely on a specific type of compressed bitmap index called Roaring. We present an optimized software library written in C implementing Roaring bitmaps: CRoaring. It benefits from several algorithms designed for the single-instruction-multiple-data (SIMD) instructions available on commodity processors. In particular, we present vectorized algorithms to compute the intersection, union, difference and symmetric difference between arrays. We benchmark the library against a wide range of competitive alternatives, identifying weaknesses and strengths in our software. Our work is available under a liberal open-source license.",
"title": ""
},
{
"docid": "5f30867cb3071efa8fb0d34447b8a8f6",
"text": "Money laundering is a global problem that affects all countries to various degrees. Although, many countries take benefits from money laundering, by accepting the money from laundering but keeping the crime abroad, at the long run, “money laundering attracts crime”. Criminals come to know a country, create networks and eventually also locate their criminal activities there. Most financial institutions have been implementing antimoney laundering solutions (AML) to fight investment fraud. The key pillar of a strong Anti-Money Laundering system for any financial institution depends mainly on a well-designed and effective monitoring system. The main purpose of the Anti-Money Laundering transactions monitoring system is to identify potential suspicious behaviors embedded in legitimate transactions. This paper presents a monitor framework that uses various techniques to enhance the monitoring capabilities. This framework is depending on rule base monitoring, behavior detection monitoring, cluster monitoring and link analysis based monitoring. The monitor detection processes are based on a money laundering deterministic finite automaton that has been obtained from their corresponding regular expressions. Index Terms – Anti Money Laundering system, Money laundering monitoring and detecting, Cycle detection monitoring, Suspected Link monitoring.",
"title": ""
},
{
"docid": "66313e7ec725fa6081a9d834ce87cb2e",
"text": "In this paper, the DCXO is based on a Pierce oscillator with two MIM capacitor arrays for tuning the anti-resonant frequency of a 19.2MHz crystal. Each array of MIM capacitors is thermometer-coded and formatted in a matrix shape to facilitate layout. Although a segmented architecture is an area-efficient method for implementing a SC array, a thermometer-coded array provides the best linearity and guarantees a monotonic frequency tuning characteristic, which is of utmost importance in an AFC system.",
"title": ""
},
{
"docid": "90d06c97cdf3b67a81345f284d839c25",
"text": "Open information extraction is an important task in Biomedical domain. The goal of the OpenIE is to automatically extract structured information from unstructured text with no or little supervision. It aims to extract all the relation tuples from the corpus without requiring pre-specified relation types. The existing tools may extract ill-structured or incomplete information, or fail on the Biomedical literature due to the long and complicated sentences. In this paper, we propose a novel pattern-based information extraction method for the wide-window entities (WW-PIE). WW-PIE utilizes dependency parsing to break down the long sentences first and then utilizes frequent textual patterns to extract the high-quality information. The pattern hierarchical grouping organize and structure the extractions to be straightforward and precise. Consequently, comparing with the existing OpenIE tools, WW-PIE produces structured output that can be directly used for downstream applications. The proposed WW-PIE is also capable in extracting n-ary and nested relation structures, which is less studied in the existing methods. Extensive experiments on real-world biomedical corpus from PubMed abstracts demonstrate the power of WW-PIE at extracting precise and well-structured information.",
"title": ""
},
{
"docid": "5b0eaf636d6d8cf0523e3f00290b780f",
"text": "Toward materializing the recently identified potential of cognitive neuroscience for IS research (Dimoka, Pavlou and Davis 2007), this paper demonstrates how functional neuroimaging tools can enhance our understanding of IS theories. Specifically, this study aims to uncover the neural mechanisms that underlie technology adoption by identifying the brain areas activated when users interact with websites that differ on their level of usefulness and ease of use. Besides localizing the neural correlates of the TAM constructs, this study helps understand their nature and dimensionality, as well as uncover hidden processes associated with intentions to use a system. The study also identifies certain technological antecedents of the TAM constructs, and shows that the brain activations associated with perceived usefulness and perceived ease of use predict selfreported intentions to use a system. The paper concludes by discussing the study’s implications for underscoring the potential of functional neuroimaging for IS research and the TAM literature.",
"title": ""
},
{
"docid": "1856090b401a304f1172c2958d05d6b3",
"text": "The Iranian government operates one of the largest and most sophisticated Internet censorship regimes in the world, but the mechanisms it employs have received little research attention, primarily due to lack of access to network connections within the country and personal risks to Iranian citizens who take part. In this paper, we examine the status of Internet censorship in Iran based on network measurements conducted from a major Iranian ISP during the lead up to the June 2013 presidential election. We measure the scope of the censorship by probing Alexa’s top 500 websites in 18 different categories. We investigate the technical mechanisms used for HTTP Host–based blocking, keyword filtering, DNS hijacking, and protocol-based throttling. Finally, we map the network topology of the censorship infrastructure and find evidence that it relies heavily on centralized equipment, a property that might be fruitfully exploited by next generation approaches to censorship circumvention.",
"title": ""
},
{
"docid": "34398d644ba55ea1a49e5703dd3275ae",
"text": "Swimming is a sport that requires considerable training commitment to reach individual performance goals. Nutrition requirements are specific to the macrocycle, microcycle, and individual session. Swimmers should ensure suitable energy availability to support training while maintaining long term health. Carbohydrate intake, both over the day and in relation to a workout, should be manipulated (3-10 g/kg of body mass/day) according to the fuel demands of training and the varying importance of undertaking these sessions with high carbohydrate availability. Swimmers should aim to consume 0.3 g of high-biological-value protein per kilogram of body mass immediately after key sessions and at regular intervals throughout the day to promote tissue adaptation. A mixed diet consisting of a variety of nutrient-dense food choices should be sufficient to meet the micronutrient requirements of most swimmers. Specific dietary supplements may prove beneficial to swimmers in unique situations, but should be tried only with the support of trained professionals. All swimmers, particularly adolescent and youth swimmers, are encouraged to focus on a well-planned diet to maximize training performance, which ensures sufficient energy availability especially during periods of growth and development. Swimmers are encouraged to avoid rapid weight fluctuations; rather, optimal body composition should be achieved over longer periods by modest dietary modifications that improve their food choices. During periods of reduced energy expenditure (taper, injury, off season) swimmers are encouraged to match energy intake to requirement. Swimmers undertaking demanding competition programs should ensure suitable recovery practices are used to maintain adequate glycogen stores over the entirety of the competition period.",
"title": ""
},
{
"docid": "9090999f7fdaad88943f4dc4dca414d6",
"text": "Collaborative reasoning for understanding each image-question pair is very critical but underexplored for an interpretable visual question answering system. Although very recent works also attempted to use explicit compositional processes to assemble multiple subtasks embedded in the questions, their models heavily rely on annotations or handcrafted rules to obtain valid reasoning processes, leading to either heavy workloads or poor performance on composition reasoning. In this paper, to better align image and language domains in diverse and unrestricted cases, we propose a novel neural network model that performs global reasoning on a dependency tree parsed from the question, and we thus phrase our model as parse-tree-guided reasoning network (PTGRN). This network consists of three collaborative modules: i) an attention module to exploit the local visual evidence for each word parsed from the question, ii) a gated residual composition module to compose the previously mined evidence, and iii) a parse-tree-guided propagation module to pass the mined evidence along the parse tree. Our PTGRN is thus capable of building an interpretable VQA system that gradually derives the image cues following a question-driven parse-tree reasoning route. Experiments on relational datasets demonstrate the superiority of our PTGRN over current state-of-the-art VQA methods, and the visualization results highlight the explainable capability of our reasoning system.",
"title": ""
},
{
"docid": "54e2dfd355e9e082d9a6f8c266c84360",
"text": "The wealth and value of organizations are increasingly based on intellectual capital. Although acquiring talented individuals and investing in employee learning adds value to the organization, reaping the benefits of intellectual capital involves translating the wisdom of employees into reusable and sustained actions. This requires a culture that creates employee commitment, encourages learning, fosters sharing, and involves employees in decision making. An infrastructure to recognize and embed promising and best practices through social networks, evidence-based practice, customization of innovations, and use of information technology results in increased productivity, stronger financial performance, better patient outcomes, and greater employee and customer satisfaction.",
"title": ""
},
{
"docid": "a958ded315a2de150f46c92ac9a5a414",
"text": "Dynamic binary analysis techniques play a central role to study the security of software systems and detect vulnerabilities in a broad range of devices and applications. Over the past decade, a variety of different techniques have been published, often alongside the release of prototype tools to demonstrate their effectiveness. Unfortunately, most of those techniques’ implementations are deeply coupled with their dynamic analysis frameworks and are not easy to integrate in other frameworks. Those frameworks are not designed to expose their internal state or their results to other components. This prevents analysts from being able to combine together different tools to exploit their strengths and tackle complex problems which requires a combination of sophisticated techniques. Fragmentation and isolation are two important problems which too often results in duplicated efforts or in multiple equivalent solutions for the same problem – each based on a different programming language, abstraction model, or execution environment. In this paper, we present avatar2, a dynamic multi-target orchestration framework designed to enable interoperability between different dynamic binary analysis frameworks, debuggers, emulators, and real physical devices. Avatar2 allows the analyst to organize different tools in a complex topology and then “move” the execution of binary code from one system to the other. The framework supports the automated transfer of the internal state of the device/application, as well as the configurable forwarding of input/output and memory accesses to physical peripherals or emulated targets. To demonstrate avatar2 usage and versatility, in this paper we present three very different use cases in which we replicate a PLC rootkit presented at NDSS 2017, we test Firefox combining Angr and GDB, and we record the execution of an embedded device firmware using PANDA and OpenOCD. All tools and the three use cases will be released as open source to help other researchers to replicate our experiments and perform their own analysis tasks with avatar2.",
"title": ""
},
{
"docid": "e2be1b93be261deac59b5afde2f57ae1",
"text": "The electronic and transport properties of carbon nanotube has been investigated in presence of ammonia gas molecule, using Density Functional Theory (DFT) based ab-initio approach. The model of CNT sensor has been build using zigzag (7, 0) CNT with a NH3 molecule adsorbed on its surface. The presence of NH3 molecule results in increase of CNT band gap. From the analysis of I-V curve, it is observed that the adsorption of NH3 leads to different voltage and current curve in comparison to its pristine state confirms the presence of NH3.",
"title": ""
},
{
"docid": "ca8aba51ab75cb86a32b6913ed9690cc",
"text": "Capsicum is a lightweight operating system capability and sandbox framework planned for inclusion in FreeBSD 9. Capsicum extends, rather than replaces, UNIX APIs, providing new kernel primitives (sandboxed capability mode and capabilities) and a userspace sandbox API. These tools support the compartmentalization of monolithic UNIX applications into logical applications. We demonstrate our approach by adapting core FreeBSD utilities and Google’s Chromium web browser to use Capsicum primitives, and compare the complexity and robustness of Capsicum with other sandboxing techniques.",
"title": ""
},
{
"docid": "c3e46c3317d81b2d8b8c53f7e5cd37b9",
"text": "A novel rainfall prediction method has been proposed. In the present work rainfall prediction in Southern part of West Bengal (India) has been conducted. A two-step method has been employed. Greedy forward selection algorithm is used to reduce the feature set and to find the most promising features for rainfall prediction. First, in the training phase the data is clustered by applying k-means algorithm, then for each cluster a separate Neural Network (NN) is trained. The proposed two step prediction model (Hybrid Neural Network or HNN) has been compared with MLP-FFN classifier in terms of several statistical performance measuring metrics. The data for experimental purpose is collected by Dumdum meteorological station (West Bengal, India) over the period from 1989 to 1995. The experimental results have suggested a reasonable improvement over traditional methods in predicting rainfall. The proposed HNN model outperformed the compared models by achieving 84.26% accuracy without feature selection and 89.54% accuracy with feature selection.",
"title": ""
},
{
"docid": "882390e6f557c044cd0774b3edf9ce89",
"text": "Over five years ago, The Leadership Quarterly published a special issue on complexity to advance a new way of thinking about leadership. In shifting attention away from the individual to the organizing process itself, complexity added an important focus on process and context to leadership and management research. Yet, the complexity approach creates challenges for researchers who must combine or replace individual level constructs—like those built through surveys or factor analysis—with richer theories that investigate networked meso dynamics, multilevel phenomena, emergent processes, and organizational outcomes. To address this challenge, the present analysis draws on theoretical and empirical work over the last several years to identify five specific areas where complexity inspired research has led to new insights about the mechanisms that enable the organization to perform and adapt. It suggests propositions that describe how leadership and management, defined holistically, might activate complexity mechanisms to perform five essential organizing functions.",
"title": ""
},
{
"docid": "edaa5ba6a10b6c4e66a895b7647881b9",
"text": "A possible side-effect of exposure to non-native sounds is a change in the way we perceive native sounds. Previous studies have demonstrated that native speakers’ speech production can change as a result of learning a new language, but little work has been carried out to measure the perceptual consequences of exposure. The current study examined how intensive exposure to Spanish intervocalic consonants affected Chinese learners with no prior experience of Spanish. Before, during and after a training period, listeners undertook both an adaptive noise task, which measured the noise level at which listeners could identify native language consonants, and an assimilation task, in which listeners assigned Spanish consonants to Chinese consonant categories. Listeners exhibited a significantly reduced noise tolerance for the Chinese consonants /l/ and /w/ following exposure to Spanish. These two consonants also showed the largest reductions in Spanish to Chinese category assimilations. Taken together, these findings suggest that Chinese listeners modified their native language categories boundaries as a result of exposure to Spanish sounds in order to accommodate them, and that as a consequence their identification performance in noise reduced. Some differences between the two sounds in the time-course of recovery from perceptual adaptation were observed.",
"title": ""
},
{
"docid": "b99b9f80b4f0ca4a8d42132af545be76",
"text": "By: Catherine L. Anderson Decision, Operations, and Information Technologies Department Robert H. Smith School of Business University of Maryland Van Munching Hall College Park, MD 20742-1815 U.S.A. Catherine_Anderson@rhsmith.umd.edu Ritu Agarwal Center for Health Information and Decision Systems University of Maryland 4327 Van Munching Hall College Park, MD 20742-1815 U.S.A. ragarwal@rhsmith.umd.edu",
"title": ""
},
{
"docid": "7ff291833a25ca1a073ebc2a2e5274e7",
"text": "High precision ground truth data is a very important factor for the development and evaluation of computer vision algorithms and especially for advanced driver assistance systems. Unfortunately, some types of data, like accurate optical flow and depth as well as pixel-wise semantic annotations are very difficult to obtain. In order to address this problem, in this paper we present a new framework for the generation of high quality synthetic camera images, depth and optical flow maps and pixel-wise semantic annotations. The framework is based on a realistic driving simulator called VDrift [1], which allows us to create traffic scenarios very similar to those in real life. We show how we can use the proposed framework to generate an extensive dataset for the task of multi-class image segmentation. We use the dataset to train a pairwise CRF model and to analyze the effects of using various combinations of features in different image modalities.",
"title": ""
},
{
"docid": "8e23ef656b501814fc44c609feebe823",
"text": "This paper proposes an approach for segmentation and semantic labeling of RGBD data based on the joint usage of geometrical clues and deep learning techniques. An initial oversegmentation is performed using spectral clustering and a set of NURBS surfaces is then fitted on the extracted segments. The input data are then fed to a Convolutional Neural Network (CNN) together with surface fitting parameters. The network is made of nine convolutional stages followed by a softmax classifier and produces a per-pixel descriptor vector for each sample. An iterative merging procedure is then used to recombine the segments into the regions corresponding to the various objects and surfaces. The couples of adjacent segments with higher similarity according to the CNN features are considered for merging and the NURBS surface fitting accuracy is used in order to understand if the selected couples correspond to a single surface. By combining the obtained segmentation with the descriptors from the CNN a set of labeled segments is obtained. The comparison with state-of-the-art methods shows how the proposed method provides an accurate and reliable scene segmentation and labeling.",
"title": ""
},
{
"docid": "b229aa8b39b3df3fec941ce4791a2fe9",
"text": "Translating information between text and image is a fundamental problem in artificial intelligence that connects natural language processing and computer vision. In the past few years, performance in image caption generation has seen significant improvement through the adoption of recurrent neural networks (RNN). Meanwhile, text-to-image generation begun to generate plausible images using datasets of specific categories like birds and flowers. We've even seen image generation from multi-category datasets such as the Microsoft Common Objects in Context (MSCOCO) through the use of generative adversarial networks (GANs). Synthesizing objects with a complex shape, however, is still challenging. For example, animals and humans have many degrees of freedom, which means that they can take on many complex shapes. We propose a new training method called Image-Text-Image (I2T2I) which integrates text-to-image and image-to-text (image captioning) synthesis to improve the performance of text-to-image synthesis. We demonstrate that I2T2I can generate better multi-categories images using MSCOCO than the state-of-the-art. We also demonstrate that I2T2I can achieve transfer learning by using a pre-trained image captioning module to generate human images on the MPII Human Pose dataset (MHP) without using sentence annotation.",
"title": ""
}
] | scidocsrr |
6cbf8b77ca86f24f75e38a10e305490d | Learning to "Read Between the Lines" using Bayesian Logic Programs | [
{
"docid": "d08529ef66abefda062a414acb278641",
"text": "Spend your few moment to read a book even only few pages. Reading book is not obligation and force for everybody. When you don't want to read, you can get punishment from the publisher. Read a book becomes a choice of your different characteristics. Many people with reading habit will always be enjoyable to read, or on the contrary. For some reasons, this inductive logic programming techniques and applications tends to be the representative book in this website.",
"title": ""
},
{
"docid": "15b90de82b2c3576a3a0e5c124436871",
"text": "Information Extraction (IE) is the name given to any process which selectively structures and combines data which is found, explicitly stated or implied, in one or more texts. The final output of the extraction process varies; in every case, however, it can be transformed so as to populate some type of database. Information analysts working long term on specific tasks already carry out information extraction manually with the express goal of database creation.",
"title": ""
},
{
"docid": "78cda62ca882bb09efc08f7d4ea1801e",
"text": "Open Domain: There are nearly an unbounded number of classes, objects and relations Missing Data: Many useful facts are never explicitly stated No Negative Examples: Labeling positive and negative examples for all interesting relations is impractical Learning First-Order Horn Clauses from Web Text Stefan Schoenmackers Oren Etzioni Daniel S. Weld Jesse Davis Turing Center, University of Washington Katholieke Universiteit Leuven",
"title": ""
},
{
"docid": "23e08b1f6886d8171fe2f46c88ea6ee2",
"text": "In recent years, there has been a significant interest in integrating probability theory with first order logic and relational representations [see De Raedt and Kersting, 2003, for an overview]. Muggleton [1996] and Cussens [1999] have upgraded stochastic grammars towards Stochastic Logic Programs, Sato and Kameya [2001] have introduced Probabilistic Distributional Semantics for logic programs, and Domingos and Richardson [2004] have upgraded Markov networks towards Markov Logic Networks. Another research stream including Poole’s Independent Choice Logic [1993], Ngo and Haddawy’s Probabilistic-Logic Programs [1997], Jäger’s Relational Bayesian Networks [1997], and Pfeffer’s Probabilistic Relational Models [2000] concentrates on first order logical and relational extensions of Bayesian networks.",
"title": ""
}
] | [
{
"docid": "e82e4599a7734c9b0292a32f551dd411",
"text": "Generating a text abstract from a set of documents remains a challenging task. The neural encoder-decoder framework has recently been exploited to summarize single documents, but its success can in part be attributed to the availability of large parallel data automatically acquired from the Web. In contrast, parallel data for multi-document summarization are scarce and costly to obtain. There is a pressing need to adapt an encoder-decoder model trained on single-document summarization data to work with multiple-document input. In this paper, we present an initial investigation into a novel adaptation method. It exploits the maximal marginal relevance method to select representative sentences from multi-document input, and leverages an abstractive encoder-decoder model to fuse disparate sentences to an abstractive summary. The adaptation method is robust and itself requires no training data. Our system compares favorably to state-of-the-art extractive and abstractive approaches judged by automatic metrics and human assessors.",
"title": ""
},
{
"docid": "8780b620d228498447c4f1a939fa5486",
"text": "A new mechanism is proposed for securing a blockchain applied to contracts management such as digital rights management. This mechanism includes a new consensus method using a credibility score and creates a hybrid blockchain by alternately using this new method and proof-of-stake. This makes it possible to prevent an attacker from monopolizing resources and to keep securing blockchains.",
"title": ""
},
{
"docid": "5b6f55af9994b2c2491344fca573502d",
"text": "From times immemorial, colorants, and flavorings have been used in foods. Color and flavor are the major attributes to the quality of a food product, affecting the appearance and acceptance of the product. As a consequence of the increased demand of natural flavoring and colorant from industries, there is a renewed interest in the research on the composition and recovery of natural food flavors and colors. Over the years, numerous procedures have been proposed for the isolation of aromatic compounds and colors from plant materials. Generally, the methods of extraction followed for aroma and pigment from plant materials are solvent extraction, hydro-distillation, steam distillation, and super critical carbon dioxide extraction. The application of enzymes in the extraction of oil from oil seeds like sunflower, corn, coconut, olives, avocado etc. are reported in literature. There is a great potential for this enzyme-based extraction technology with the selection of appropriate enzymes with optimized operating conditions. Various enzyme combinations are used to loosen the structural integrity of botanical material thereby enhancing the extraction of the desired flavor and color components. Recently enzymes have been used for the extraction of flavor and color from plant materials, as a pre-treatment of the raw material before subjecting the plant material to hydro distillation/solvent extraction. A deep knowledge of enzymes, their mode of action, conditions for optimum activity, and selection of the right type of enzymes are essential to use them effectively for extraction. Although the enzyme hydrolases such as lipases, proteases (chymotrypsin, subtilisin, thermolysin, and papain), esterases use water as a substrate for the reaction, they are also able to accept other nucleophiles such as alcohols, amines, thio-esters, and oximes. Advantages of enzyme-assisted extraction of flavor and color in some of the plant materials in comparison with conventional methods are dealt with in this reveiw.",
"title": ""
},
{
"docid": "446c1bf541dbed56f8321b8024391b8c",
"text": "Tokenisation has been adopted by the payment industry as a method to prevent Personal Account Number (PAN) compromise in EMV (Europay MasterCard Visa) transactions. The current architecture specified in EMV tokenisation requires online connectivity during transactions. However, it is not always possible to have online connectivity. We identify three main scenarios where fully offline transaction capability is considered to be beneficial for both merchants and consumers. Scenarios include making purchases in locations without online connectivity, when a reliable connection is not guaranteed, and when it is cheaper to carry out offline transactions due to higher communication/payment processing costs involved in online approvals. In this study, an offline contactless mobile payment protocol based on EMV tokenisation is proposed. The aim of the protocol is to address the challenge of providing secure offline transaction capability when there is no online connectivity on either the mobile or the terminal. The solution also provides end-to-end encryption to provide additional security for transaction data other than the token. The protocol is analysed against protocol objectives and we discuss how the protocol can be extended to prevent token relay attacks. The proposed solution is subjected to mechanical formal analysis using Scyther. Finally, we implement the protocol and obtain performance measurements.",
"title": ""
},
{
"docid": "eec40573db841727a1410e5408ae43ed",
"text": "The design of a compact low-loss magic-T is proposed. The planar magic-T incorporates the compact microstrip-slotline tee junction and small microstrip-slotline transition area to reduce slotline radiation. The experimental results show that the magic-T produces broadband in-phase and out-of-phase power combiner/divider responses, has an average in-band insertion loss of 0.3 dB and small in-band phase and amplitude imbalance of less than plusmn 1.6deg and plusmn 0.3 dB, respectively.",
"title": ""
},
{
"docid": "c697ce69b5ba77cce6dce93adaba7ee0",
"text": "Online social networks play a major role in modern societies, and they have shaped the way social relationships evolve. Link prediction in social networks has many potential applications such as recommending new items to users, friendship suggestion and discovering spurious connections. Many real social networks evolve the connections in multiple layers (e.g. multiple social networking platforms). In this article, we study the link prediction problem in multiplex networks. As an example, we consider a multiplex network of Twitter (as a microblogging service) and Foursquare (as a location-based social network). We consider social networks of the same users in these two platforms and develop a meta-path-based algorithm for predicting the links. The connectivity information of the two layers is used to predict the links in Foursquare network. Three classical classifiers (naive Bayes, support vector machines (SVM) and K-nearest neighbour) are used for the classification task. Although the networks are not highly correlated in the layers, our experiments show that including the cross-layer information significantly improves the prediction performance. The SVM classifier results in the best performance with an average accuracy of 89%.",
"title": ""
},
{
"docid": "33e9975e16ece06500b89aced4c903eb",
"text": "We present a novel image resizing method which attempts to ensure that important local regions undergo a geometric similarity transformation, and at the same time, to preserve image edge structure. To accomplish this, we define handles to describe both local regions and image edges, and assign a weight for each handle based on an importance map for the source image. Inspired by conformal energy, which is widely used in geometry processing, we construct a novel quadratic distortion energy to measure the shape distortion for each handle. The resizing result is obtained by minimizing the weighted sum of the quadratic distortion energies of all handles. Compared to previous methods, our method allows distortion to be diffused better in all directions, and important image edges are well-preserved. The method is efficient, and offers a closed form solution.",
"title": ""
},
{
"docid": "16880162165f4c95d6b01dc4cfc40543",
"text": "In this paper we present CMUcam3, a low-cost, open source, em bedded computer vision platform. The CMUcam3 is the third generation o f the CMUcam system and is designed to provide a flexible and easy to use ope n source development environment along with a more powerful hardware platfo rm. The goal of the system is to provide simple vision capabilities to small emb dded systems in the form of an intelligent sensor that is supported by an open sou rce community. The hardware platform consists of a color CMOS camera, a frame bu ff r, a low cost 32bit ARM7TDMI microcontroller, and an MMC memory card slot. T he CMUcam3 also includes 4 servo ports, enabling one to create entire, w orking robots using the CMUcam3 board as the only requisite robot processor. Cus tom C code can be developed using an optimized GNU toolchain and executabl es can be flashed onto the board using a serial port without external download ing hardware. The development platform includes a virtual camera target allowi ng for rapid application development exclusively on a PC. The software environment c omes with numerous open source example applications and libraries includi ng JPEG compression, frame differencing, color tracking, convolutions, histog ramming, edge detection, servo control, connected component analysis, FAT file syste m upport, and a face detector.",
"title": ""
},
{
"docid": "57d6b4c717ce071c17a55c12a52bf53f",
"text": "College of Information Science and Engineering, Ritsumeikan University, 1-1-1 Noji Higashi, Kusatsu, Shiga 525-8577, Japan Department of Mechanical Engineering and Intelligent Systems, The University of Electro-Communications, 1-5-1 Chofugaoka, Chofu-shi, Tokyo 182-8585, Japan Faculty of Computer Science and Systems Engineering, Okayama Prefectural University, 111 Kubogi, Soja-shi, Okayama 719-1197, Japan Department of Intermedia Art and Science, School of Fundamental Science and Engineering, Waseda University, 3-4-1 Ohkubo, Shinjuku, Tokyo 169-8555, Japan Artificial Intelligence Research Center, National Institute of Advanced Industrial Science and Technology (AIST), AIST Tsukuba Central 1, 1-1-1 Umezono, Tsukuba, Ibaraki 305-8560, Japan",
"title": ""
},
{
"docid": "7a47dde6f7cc68c092922718000a807a",
"text": "In the present study k-Nearest Neighbor classification method, have been studied for economic forecasting. Due to the effects of companies’ financial distress on stakeholders, financial distress prediction models have been one of the most attractive areas in financial research. In recent years, after the global financial crisis, the number of bankrupt companies has risen. Since companies' financial distress is the first stage of bankruptcy, using financial ratios for predicting financial distress have attracted too much attention of the academics as well as economic and financial institutions. Although in recent years studies on predicting companies’ financial distress in Iran have been increased, most efforts have exploited traditional statistical methods; and just a few studies have used nonparametric methods. Recent studies demonstrate this method is more capable than other methods.",
"title": ""
},
{
"docid": "e1be36e185b024561190bcf85ab4c756",
"text": "Molecular (nucleic acid)-based diagnostics tests have many advantages over immunoassays, particularly with regard to sensitivity and specificity. Most on-site diagnostic tests, however, are immunoassay-based because conventional nucleic acid-based tests (NATs) require extensive sample processing, trained operators, and specialized equipment. To make NATs more convenient, especially for point-of-care diagnostics and on-site testing, a simple plastic microfluidic cassette (\"chip\") has been developed for nucleic acid-based testing of blood, other clinical specimens, food, water, and environmental samples. The chip combines nucleic acid isolation by solid-phase extraction; isothermal enzymatic amplification such as LAMP (Loop-mediated AMPlification), NASBA (Nucleic Acid Sequence Based Amplification), and RPA (Recombinase Polymerase Amplification); and real-time optical detection of DNA or RNA analytes. The microfluidic cassette incorporates an embedded nucleic acid binding membrane in the amplification reaction chamber. Target nucleic acids extracted from a lysate are captured on the membrane and amplified at a constant incubation temperature. The amplification product, labeled with a fluorophore reporter, is excited with a LED light source and monitored in situ in real time with a photodiode or a CCD detector (such as available in a smartphone). For blood analysis, a companion filtration device that separates plasma from whole blood to provide cell-free samples for virus and bacterial lysis and nucleic acid testing in the microfluidic chip has also been developed. For HIV virus detection in blood, the microfluidic NAT chip achieves a sensitivity and specificity that are nearly comparable to conventional benchtop protocols using spin columns and thermal cyclers.",
"title": ""
},
{
"docid": "17cdb26d3fd4e915341b21fcf85606c8",
"text": "Persistent occiput posterior (OP) is associated with increased rates of maternal and newborn morbidity. Its diagnosis by physical examination is challenging but is improved with bedside ultrasonography. Occiput posterior discovered in the active phase or early second stage of labor usually resolves spontaneously. When it does not, prophylactic manual rotation may decrease persistent OP and its associated complications. When delivery is indicated for arrest of descent in the setting of persistent OP, a pragmatic approach is suggested. Suspected fetal macrosomia, a biparietal diameter above the pelvic inlet or a maternal pelvis with android features should prompt cesarean delivery. Nonrotational operative vaginal delivery is appropriate when the maternal pelvis has a narrow anterior segment but ample room posteriorly, like with anthropoid features. When all other conditions are met and the fetal head arrests in an OP position in a patient with gynecoid pelvic features and ample room anteriorly, options include cesarean delivery, nonrotational operative vaginal delivery, and rotational procedures, either manual or with the use of rotational forceps. Recent literature suggests that maternal and fetal outcomes with rotational forceps are better than those reported in older series. Although not without significant challenges, a role remains for teaching and practicing selected rotational forceps operations in contemporary obstetrics.",
"title": ""
},
{
"docid": "642f380599ca1c6d7b7db32a124e1b30",
"text": "1 Department of Clinical Psychology and Psychotherapy, International Institute for Advanced Study in Psychotherapy and Applied Mental Health at Babes-Bolyai University, Cluj-Napoca, Romania, 2 Department of Population Health Sciences and Policy at Icahn School of Medicine at Mount Sinai, New York, NY, United States, 3 Department of Psychological and Brain Sciences, Boston University, Boston, MA, United States",
"title": ""
},
{
"docid": "d3562d7a7dafeb4971563d90e4c31fd6",
"text": "A challenging problem in open information extraction and text mining is the learning of the selectional restrictions of semantic relations. We propose a minimally supervised bootstrapping algorithm that uses a single seed and a recursive lexico-syntactic pattern to learn the arguments and the supertypes of a diverse set of semantic relations from the Web. We evaluate the performance of our algorithm on multiple semantic relations expressed using “verb”, “noun”, and “verb prep” lexico-syntactic patterns. Humanbased evaluation shows that the accuracy of the harvested information is about 90%. We also compare our results with existing knowledge base to outline the similarities and differences of the granularity and diversity of the harvested knowledge.",
"title": ""
},
{
"docid": "704a925f5bb0d5629038923d5b2bf471",
"text": "OBJECTIVES\nThis guideline provides evidence-based recommendations on managing benign paroxysmal positional vertigo (BPPV), which is the most common vestibular disorder in adults, with a lifetime prevalence of 2.4 percent. The guideline targets patients aged 18 years or older with a potential diagnosis of BPPV, evaluated in any setting in which an adult with BPPV would be identified, monitored, or managed. This guideline is intended for all clinicians who are likely to diagnose and manage adults with BPPV.\n\n\nPURPOSE\nThe primary purposes of this guideline are to improve quality of care and outcomes for BPPV by improving the accurate and efficient diagnosis of BPPV, reducing the inappropriate use of vestibular suppressant medications, decreasing the inappropriate use of ancillary tests such as radiographic imaging and vestibular testing, and to promote the use of effective repositioning maneuvers for treatment. In creating this guideline, the American Academy of Otolaryngology-Head and Neck Surgery Foundation selected a panel representing the fields of audiology, chiropractic medicine, emergency medicine, family medicine, geriatric medicine, internal medicine, neurology, nursing, otolaryngology-head and neck surgery, physical therapy, and physical medicine and rehabilitation.\n\n\nRESULTS\nThe panel made strong recommendations that 1) clinicians should diagnose posterior semicircular canal BPPV when vertigo associated with nystagmus is provoked by the Dix-Hallpike maneuver. The panel made recommendations against 1) radiographic imaging, vestibular testing, or both in patients diagnosed with BPPV, unless the diagnosis is uncertain or there are additional symptoms or signs unrelated to BPPV that warrant testing; and 2) routinely treating BPPV with vestibular suppressant medications such as antihistamines or benzodiazepines. The panel made recommendations that 1) if the patient has a history compatible with BPPV and the Dix-Hallpike test is negative, clinicians should perform a supine roll test to assess for lateral semicircular canal BPPV; 2) clinicians should differentiate BPPV from other causes of imbalance, dizziness, and vertigo; 3) clinicians should question patients with BPPV for factors that modify management including impaired mobility or balance, CNS disorders, lack of home support, and increased risk for falling; 4) clinicians should treat patients with posterior canal BPPV with a particle repositioning maneuver (PRM); 5) clinicians should reassess patients within 1 month after an initial period of observation or treatment to confirm symptom resolution; 6) clinicians should evaluate patients with BPPV who are initial treatment failures for persistent BPPV or underlying peripheral vestibular or CNS disorders; and 7) clinicians should counsel patients regarding the impact of BPPV on their safety, the potential for disease recurrence, and the importance of follow-up. The panel offered as options that 1) clinicians may offer vestibular rehabilitation, either self-administered or with a clinician, for the initial treatment of BPPV and 2) clinicians may offer observation as initial management for patients with BPPV and with assurance of follow-up. The panel made no recommendation concerning audiometric testing in patients diagnosed with BPPV.\n\n\nDISCLAIMER\nThis clinical practice guideline is not intended as a sole source of guidance in managing benign paroxysmal positional vertigo. Rather, it is designed to assist clinicians by providing an evidence-based framework for decision-making strategies. The guideline is not intended to replace clinical judgement or establish a protocol for all individuals with this condition, and may not provide the only appropriate approach to diagnosing and managing this problem.",
"title": ""
},
{
"docid": "d99fdf7b559d5609bec3c179dee3cd58",
"text": "This study aimed to describe dietary habits of Syrian adolescents attending secondary schools in Damascus and the surrounding areas. A descriptive, cross-sectional study was carried out on 3507 students in 2001. A stratified, 2-stage random cluster sample was used to sample the students. The consumption pattern of food items during the previous week was described. More than 50% of the students said that they had not consumed green vegetables and more than 35% had not consumed meat. More than 35% said that they consumed cheese and milk at least once a day. Only 11.8% consumed fruit 3 times or more daily. Potential determinants of the pattern of food consumption were arialysed. Weight control practices and other eating habits were also described.",
"title": ""
},
{
"docid": "c26caff761092bc5b6af9f1c66986715",
"text": "The mechanisms used by DNN accelerators to leverage datareuse and perform data staging are known as dataflow, and they directly impact the performance and energy efficiency of DNN accelerator designs. Co-optimizing the accelerator microarchitecture and its internal dataflow is crucial for accelerator designers, but there is a severe lack of tools and methodologies to help them explore the co-optimization design space. In this work, we first introduce a set of datacentric directives to concisely specify DNN dataflows in a compiler-friendly form. Next, we present an analytical model, MAESTRO, that estimates various cost-benefit tradeoffs of a dataflow including execution time and energy efficiency for a DNN model and hardware configuration. Finally, we demonstrate the use of MAESTRO to drive a hardware design space exploration (DSE) engine. The DSE engine searched 480M designs and identified 2.5M valid designs at an average rate of 0.17M designs per second, and also identified throughputand energy-optimized designs among this set.",
"title": ""
},
{
"docid": "5dedc1d4fbd4fcb32871fb182d520168",
"text": "In this paper, we propose a distributed data-gathering scheme using an autonomous underwater vehicle (AUV) working as a mobile sink to gather data from a randomly distributed underwater sensor network where sensor nodes are clustered around several cluster headers. Unlike conventional data-gathering schemes where the AUV visits either every node or every cluster header, the proposed scheme allows the AUV to visit some selected nodes named path-nodes in a way that reduces the overall transmission power of the sensor nodes. Monte Carlo simulations are performed to investigate the performance of the proposed scheme compared with several preexisting techniques employing the AUV in terms of total amount of energy consumption, standard deviation of each node's energy consumption, latency to gather data at a sink, and controlling overhead. Simulation results show that the proposed scheme not only reduces the total energy consumption but also distributes the energy consumption more uniformly over the network, thereby increasing the lifetime of the network.",
"title": ""
},
{
"docid": "b17736a9b80ba71168dc85fdd6cdf036",
"text": "Many previous efforts have been focused on generating optimal coordinates for cage deformation; cage generation for 3D models has been relatively understudied. We introduce an efficient complete pipeline to generate high quality cages for 3D models with arbitrary topological complexities, including high genus models and those without perceptible skeletal structures. Specifically, starting from user-specified cut slides, our method automatically optimizes the consistent, orthogonal orientations of cage cross sections. Then, through automated cage meshing and refining, it can further improve the cage quality by tackling the cage coverage issue and bounding the input model with a controllable tightness. Our experiments demonstrate this approach is efficient and robust to handle a variety of 3D models including human-like, animal, and high genus models.",
"title": ""
},
{
"docid": "7435d1591725bbcd86fe93c607d5683c",
"text": "This study evaluated the role of breast magnetic resonance (MR) imaging in the selective study breast implant integrity. We retrospectively analysed the signs of breast implant rupture observed at breast MR examinations of 157 implants and determined the sensitivity and specificity of the technique in diagnosing implant rupture by comparing MR data with findings at surgical explantation. The linguine and the salad-oil signs were statistically the most significant signs for diagnosing intracapsular rupture; the presence of siliconomas/seromas outside the capsule and/or in the axillary lymph nodes calls for immediate explantation. In agreement with previous reports, we found a close correlation between imaging signs and findings at explantation. Breast MR imaging can be considered the gold standard in the study of breast implants. Scopo del nostro lavoro è stato quello di valutare il ruolo della risonanza magnetica (RM) mammaria nello studio selettivo dell’integrità degli impianti protesici. è stata eseguita una valutazione retrospettiva dei segni di rottura documentati all’esame RM effettuati su 157 protesi mammarie, al fine di stabilire la sensibilità e specificità nella diagnosi di rottura protesica, confrontando tali dati RM con i reperti riscontrati in sala operatoria dopo la rimozione della protesi stessa. Il linguine sign e il salad-oil sign sono risultati i segni statisticamente più significativi nella diagnosi di rottura protesica intracapsulare; la presenza di siliconomi/sieromi extracapsulari e/o nei linfonodi ascellari impone l’immediato intervento chirurgico di rimozione della protesi rotta. I dati ottenuti dimostrano, in accordo con la letteratura, una corrispondenza tra i segni dell’imaging e i reperti chirurgici, confermando il ruolo di gold standard della RM nello studio delle protesi mammarie.",
"title": ""
}
] | scidocsrr |
31c0c7d30d38abd5a1719505df584dc3 | SEC-TOE Framework: Exploring Security Determinants in Big Data Solutions Adoption | [
{
"docid": "03d5c8627ec09e4332edfa6842b6fe44",
"text": "In the same way businesses use big data to pursue profits, governments use it to promote the public good.",
"title": ""
}
] | [
{
"docid": "022460b5f9cd5460f4213794455dedd0",
"text": "The meniscus was once considered a functionless remnant of muscle that should be removed in its entirety at any sign of abnormality. Its role in load distribution, knee stability, and arthritis prevention has since been well established. The medial and lateral menisci are now considered vital structures in the healthy knee. Advancements in surgical techniques and biologic augmentation methods have expanded the indications for meniscal repair, with documented healing in tears previously deemed unsalvageable. In this article, we review the anatomy and function of the meniscus, evaluate the implications of meniscectomy, and assess the techniques of, and outcomes following, meniscal repair.",
"title": ""
},
{
"docid": "37f157cdcd27c1647548356a5194f2bc",
"text": "Purpose – The aim of this paper is to propose a novel evaluation framework to explore the “root causes” that hinder the acceptance of using internal cloud services in a university. Design/methodology/approach – The proposed evaluation framework incorporates the duo-theme DEMATEL (decision making trial and evaluation laboratory) with TAM (technology acceptance model). The operational procedures were proposed and tested on a university during the post-implementation phase after introducing the internal cloud services. Findings – According to the results, clear understanding and operational ease under the theme perceived ease of use (PEOU) are more imperative; whereas improved usefulness and productivity under the theme perceived usefulness (PU) are more urgent to foster the usage of internal clouds in the case university. Research limitations/implications – Based on the findings, some intervention activities were suggested to enhance the level of users’ acceptance of internal cloud solutions in the case university. However, the results should not be generalized to apply to other educational establishments. Practical implications – To reduce the resistance from using internal clouds, some necessary intervention activities such as developing attractive training programs, creating interesting workshops, and rewriting user friendly manual or handbook are recommended. Originality/value – The novel two-theme DEMATEL has greatly contributed to the conventional one-theme DEMATEL theory. The proposed two-theme DEMATEL procedures were the first attempt to evaluate the acceptance of using internal clouds in university. The results have provided manifest root-causes under two distinct themes, which help derive effectual intervention activities to foster the acceptance of usage of internal clouds in a university.",
"title": ""
},
{
"docid": "1afc103a3878d859ec15929433f49077",
"text": "Large-scale deep neural networks (DNNs) are both compute and memory intensive. As the size of DNNs continues to grow, it is critical to improve the energy efficiency and performance while maintaining accuracy. For DNNs, the model size is an important factor affecting performance, scalability and energy efficiency. Weight pruning achieves good compression ratios but suffers from three drawbacks: 1) the irregular network structure after pruning, which affects performance and throughput; 2) the increased training complexity; and 3) the lack of rigirous guarantee of compression ratio and inference accuracy.\n To overcome these limitations, this paper proposes CirCNN, a principled approach to represent weights and process neural networks using block-circulant matrices. CirCNN utilizes the Fast Fourier Transform (FFT)-based fast multiplication, simultaneously reducing the computational complexity (both in inference and training) from O(n2) to O(n log n) and the storage complexity from O(n2) to O(n), with negligible accuracy loss. Compared to other approaches, CirCNN is distinct due to its mathematical rigor: the DNNs based on CirCNN can converge to the same \"effectiveness\" as DNNs without compression. We propose the CirCNN architecture, a universal DNN inference engine that can be implemented in various hardware/software platforms with configurable network architecture (e.g., layer type, size, scales, etc.). In CirCNN architecture: 1) Due to the recursive property, FFT can be used as the key computing kernel, which ensures universal and small-footprint implementations. 2) The compressed but regular network structure avoids the pitfalls of the network pruning and facilitates high performance and throughput with highly pipelined and parallel design. To demonstrate the performance and energy efficiency, we test CirCNN in FPGA, ASIC and embedded processors. Our results show that CirCNN architecture achieves very high energy efficiency and performance with a small hardware footprint. Based on the FPGA implementation and ASIC synthesis results, CirCNN achieves 6 - 102X energy efficiency improvements compared with the best state-of-the-art results.",
"title": ""
},
{
"docid": "81aa85ced7f0d83e28b0a2616bce6aae",
"text": "Delaunay refinement is a technique for generating unstructured meshes of triangles for use in interpolation, the finite element method, and the finite volume method. In theory and practice, meshes produced by Delaunay refinement satisfy guaranteed bounds on angles, edge lengths, the number of triangles, and the grading of triangles from small to large sizes. This article presents an intuitive framework for analyzing Delaunay refinement algorithms that unifies the pioneering mesh generation algorithms of L. Paul Chew and Jim Ruppert, improves the algorithms in several minor ways, and most importantly, helps to solve the difficult problem of meshing nonmanifold domains with small angles. Although small angles inherent in the input geometry cannot be removed, one would like to triangulate a domain without creating any new small angles. Unfortunately, this problem is not always soluble. A compromise is necessary. A Delaunay refinement algorithm is presented that can create a mesh in which most angles are or greater and no angle is smaller than \"!# , where %$'& is the smallest angle separating two segments of the input domain. New angles smaller than appear only near input angles smaller than & ( . In practice, the algorithm’s performance is better than these bounds suggest. Another new result is that Ruppert’s analysis technique can be used to reanalyze one of Chew’s algorithms. Chew proved that his algorithm produces no angle smaller than ) (barring small input angles), but without any guarantees on grading or number of triangles. He conjectures that his algorithm offers such guarantees. His conjecture is conditionally confirmed here: if the angle bound is relaxed to less than &+*-, , Chew’s algorithm produces meshes (of domains without small input angles) that are nicely graded and size-optimal.",
"title": ""
},
{
"docid": "dd1fd4f509e385ea8086a45a4379a8b5",
"text": "As we move towards large-scale object detection, it is unrealistic to expect annotated training data for all object classes at sufficient scale, and so methods capable of unseen object detection are required. We propose a novel zero-shot method based on training an end-to-end model that fuses semantic attribute prediction with visual features to propose object bounding boxes for seen and unseen classes. While we utilize semantic features during training, our method is agnostic to semantic information for unseen classes at test-time. Our method retains the efficiency and effectiveness of YOLO [1] for objects seen during training, while improving its performance for novel and unseen objects. The ability of state-of-art detection methods to learn discriminative object features to reject background proposals also limits their performance for unseen objects. We posit that, to detect unseen objects, we must incorporate semantic information into the visual domain so that the learned visual features reflect this information and leads to improved recall rates for unseen objects. We test our method on PASCAL VOC and MS COCO dataset and observed significant improvements on the average precision of unseen classes.",
"title": ""
},
{
"docid": "4d69284c25e1a9a503dd1c12fde23faa",
"text": "Human pose estimation has been actively studied for decades. While traditional approaches rely on 2d data like images or videos, the development of Time-of-Flight cameras and other depth sensors created new opportunities to advance the field. We give an overview of recent approaches that perform human motion analysis which includes depthbased and skeleton-based activity recognition, head pose estimation, facial feature detection, facial performance capture, hand pose estimation and hand gesture recognition. While the focus is on approaches using depth data, we also discuss traditional image based methods to provide a broad overview of recent developments in these areas.",
"title": ""
},
{
"docid": "68f8d261308714abd7e2655edd66d18a",
"text": "In this paper, we present a solution to Moments in Time (MIT) [1] Challenge. Current methods for trimmed video recognition often utilize inflated 3D (I3D) [2] to capture spatial-temporal features. First, we explore off-the-shelf structures like non-local [3], I3D, TRN [4] and their variants. After a plenty of experiments, we find that for MIT, a strong 2D convolution backbone following temporal relation network performs better than I3D network. We then add attention module based on TRN to learn a weight for each relation so that the model can capture the important moment better. We also design uniform sampling over videos and relation restriction policy to further enhance testing performance.",
"title": ""
},
{
"docid": "8cd701723c72b16dfe7d321cb657ee31",
"text": "A coupled-inductor double-boost inverter (CIDBI) is proposed for microinverter photovoltaic (PV) module system, and the control strategy applied to it is analyzed. Also, the operation principle of the proposed inverter is discussed and the gain from dc to ac is deduced in detail. The main attribute of the CIDBI topology is the fact that it generates an ac output voltage larger than the dc input one, depending on the instantaneous duty cycle and turns ratio of the coupled inductor as well. This paper points out that the gain is proportional to the duty cycle approximately when the duty cycle is around 0.5 and the synchronized pulsewidth modulation can be applicable to this novel inverter. Finally, the proposed inverter servers as a grid inverter in the grid-connected PV system and the experimental results show that the CIDBI can implement the single-stage PV-grid-connected power generation competently and be of small volume and high efficiency by leaving out the transformer or the additional dc-dc converter.",
"title": ""
},
{
"docid": "cf0a52fb8b55cf253f560aa8db35717a",
"text": "Big Data though it is a hype up-springing many technical challenges that confront both academic research communities and commercial IT deployment, the root sources of Big Data are founded on data streams and the curse of dimensionality. It is generally known that data which are sourced from data streams accumulate continuously making traditional batch-based model induction algorithms infeasible for real-time data mining. Feature selection has been popularly used to lighten the processing load in inducing a data mining model. However, when it comes to mining over high dimensional data the search space from which an optimal feature subset is derived grows exponentially in size, leading to an intractable demand in computation. In order to tackle this problem which is mainly based on the high-dimensionality and streaming format of data feeds in Big Data, a novel lightweight feature selection is proposed. The feature selection is designed particularly for mining streaming data on the fly, by using accelerated particle swarm optimization (APSO) type of swarm search that achieves enhanced analytical accuracy within reasonable processing time. In this paper, a collection of Big Data with exceptionally large degree of dimensionality are put under test of our new feature selection algorithm for performance evaluation.",
"title": ""
},
{
"docid": "a42ca90e38f8fcdea60df967c7ca8ecd",
"text": "DDoS defense today relies on expensive and proprietary hardware appliances deployed at fixed locations. This introduces key limitations with respect to flexibility (e.g., complex routing to get traffic to these “chokepoints”) and elasticity in handling changing attack patterns. We observe an opportunity to address these limitations using new networking paradigms such as softwaredefined networking (SDN) and network functions virtualization (NFV). Based on this observation, we design and implement Bohatei, a flexible and elastic DDoS defense system. In designing Bohatei, we address key challenges with respect to scalability, responsiveness, and adversary-resilience. We have implemented defenses for several DDoS attacks using Bohatei. Our evaluations show that Bohatei is scalable (handling 500 Gbps attacks), responsive (mitigating attacks within one minute), and resilient to dynamic adversaries.",
"title": ""
},
{
"docid": "12267eb671d0b7b12f04e8b04637f0b6",
"text": "Monopulse antennas can be used for accurate and rapid angle estimation in radar systems [1]. This paper presents a new kind of monopulse antenna base on two-dimensional elliptical lens. As an example, a patch-fed elliptical lens antenna is designed at 35 GHz. Simulations show the designed lens antenna exhibits clean and symmetrical patterns on both sum and difference ports. A very deep null is achieved in the difference pattern because of the circuit symmetry.",
"title": ""
},
{
"docid": "5eb4ba54e8f1288c8fa9222d664704b1",
"text": "Common Information Model (CIM) is widely adopted by many utilities since it offers interoperability through standard information models. Storing, processing, retrieving, and providing concurrent access of the large power network models to the various power system applications in CIM framework are the current challenges faced by utility operators. As the power network models resemble largely connected-data sets, the design of CIM oriented database has to support high-speed data retrieval of the connected-data and efficient storage for processing. The graph database is gaining wide acceptance for storing and processing of largely connected-data for various applications. This paper presents a design of CIM oriented graph database (CIMGDB) for storing and processing the largely connected-data of power system applications. Three significant advantages of the CIMGDB are efficient data retrieval and storage, agility to adapt dynamic changes in CIM profile, and greater flexibility of modeling CIM unified modeling language (UML) in GDB. The CIMGDB does not need a predefined database schema. Therefore, the CIM semantics needs to be added to the artifacts of GDB for every instance of CIM objects storage. A CIM based object-graph mapping methodology is proposed to automate the process. An integration of CIMGDB and power system applications is discussed by an implementation architecture. The data-intensive network topology processing (NTP) is implemented, and demonstrated for six IEEE test networks and one practical 400 kV Maharashtra network. Results such as computation time of executing network topology processing evaluate the performance of the CIMGDB.",
"title": ""
},
{
"docid": "99cd180d0bb08e6360328b77219919c1",
"text": "In this paper, we describe our approach to RecSys 2015 challenge problem. Given a dataset of item click sessions, the problem is to predict whether a session results in a purchase and which items are purchased if the answer is yes.\n We define a simpler analogous problem where given an item and its session, we try to predict the probability of purchase for the given item. For each session, the predictions result in a set of purchased items or often an empty set.\n We apply monthly time windows over the dataset. For each item in a session, we engineer features regarding the session, the item properties, and the time window. Then, a balanced random forest classifier is trained to perform predictions on the test set.\n The dataset is particularly challenging due to privacy-preserving definition of a session, the class imbalance problem, and the volume of data. We report our findings with respect to feature engineering, the choice of sampling schemes, and classifier ensembles. Experimental results together with benefits and shortcomings of the proposed approach are discussed. The solution is efficient and practical in commodity computers.",
"title": ""
},
{
"docid": "a6acba54f34d1d101f4abb00f4fe4675",
"text": "We study the potential flow of information in interaction networks, that is, networks in which the interactions between the nodes are being recorded. The central notion in our study is that of an information channel. An information channel is a sequence of interactions between nodes forming a path in the network which respects the time order. As such, an information channel represents a potential way information could have flown in the interaction network. We propose algorithms to estimate information channels of limited time span from every node to other nodes in the network. We present one exact and one more efficient approximate algorithm. Both algorithms are onepass algorithms. The approximation algorithm is based on an adaptation of the HyperLogLog sketch, which allows easily combining the sketches of individual nodes in order to get estimates of how many unique nodes can be reached from groups of nodes as well. We show how the results of our algorithm can be used to build efficient influence oracles for solving the Influence maximization problem which deals with finding top k seed nodes such that the information spread from these nodes is maximized. Experiments show that the use of information channels is an interesting data-driven and model-independent way to find top k influential nodes in interaction networks.",
"title": ""
},
{
"docid": "74fb666c47afc81b8e080f730e0d1fe0",
"text": "In current commercial Web search engines, queries are processed in the conjunctive mode, which requires the search engine to compute the intersection of a number of posting lists to determine the documents matching all query terms. In practice, the intersection operation takes a significant fraction of the query processing time, for some queries dominating the total query latency. Hence, efficient posting list intersection is critical for achieving short query latencies. In this work, we focus on improving the performance of posting list intersection by leveraging the compute capabilities of recent multicore systems. To this end, we consider various coarse-grained and fine-grained parallelization models for list intersection. Specifically, we present an algorithm that partitions the work associated with a given query into a number of small and independent tasks that are subsequently processed in parallel. Through a detailed empirical analysis of these alternative models, we demonstrate that exploiting parallelism at the finest-level of granularity is critical to achieve the best performance on multicore systems. On an eight-core system, the fine-grained parallelization method is able to achieve more than five times reduction in average query processing time while still exploiting the parallelism for high query throughput.",
"title": ""
},
{
"docid": "c16499b3945603d04cf88fec7a2c0a85",
"text": "Recovering structure and motion parameters given a image pair or a sequence of images is a well studied problem in computer vision. This is often achieved by employing Structure from Motion (SfM) or Simultaneous Localization and Mapping (SLAM) algorithms based on the real-time requirements. Recently, with the advent of Convolutional Neural Networks (CNNs) researchers have explored the possibility of using machine learning techniques to reconstruct the 3D structure of a scene and jointly predict the camera pose. In this work, we present a framework that achieves state-of-the-art performance on single image depth prediction for both indoor and outdoor scenes. The depth prediction system is then extended to predict optical flow and ultimately the camera pose and trained end-to-end. Our framework outperforms previous deep-learning based motion prediction approaches, and we also demonstrate that the state-of-the-art metric depths can be further improved using the knowledge of pose.",
"title": ""
},
{
"docid": "b740fd9a56701ddd8c54d92f45895069",
"text": "In vivo imaging of apoptosis in a preclinical setting in anticancer drug development could provide remarkable advantages in terms of translational medicine. So far, several imaging technologies with different probes have been used to achieve this goal. Here we describe a bioluminescence imaging approach that uses a new formulation of Z-DEVD-aminoluciferin, a caspase 3/7 substrate, to monitor in vivo apoptosis in tumor cells engineered to express luciferase. Upon apoptosis induction, Z-DEVD-aminoluciferin is cleaved by caspase 3/7 releasing aminoluciferin that is now free to react with luciferase generating measurable light. Thus, the activation of caspase 3/7 can be measured by quantifying the bioluminescent signal. Using this approach, we have been able to monitor caspase-3 activation and subsequent apoptosis induction after camptothecin and temozolomide treatment on xenograft mouse models of colon cancer and glioblastoma, respectively. Treated mice showed more than 2-fold induction of Z-DEVD-aminoluciferin luminescent signal when compared to the untreated group. Combining D-luciferin that measures the total tumor burden, with Z-DEVD-aminoluciferin that assesses apoptosis induction via caspase activation, we confirmed that it is possible to follow non-invasively tumor growth inhibition and induction of apoptosis after treatment in the same animal over time. Moreover, here we have proved that following early apoptosis induction by caspase 3 activation is a good biomarker that accurately predicts tumor growth inhibition by anti-cancer drugs in engineered colon cancer and glioblastoma cell lines and in their respective mouse xenograft models.",
"title": ""
},
{
"docid": "748ae7abfd8b1dfb3e79c94c5adace9d",
"text": "Users routinely access cloud services through third-party apps on smartphones by giving apps login credentials (i.e., a username and password). Unfortunately, users have no assurance that their apps will properly handle this sensitive information. In this paper, we describe the design and implementation of ScreenPass, which significantly improves the security of passwords on touchscreen devices. ScreenPass secures passwords by ensuring that they are entered securely, and uses taint-tracking to monitor where apps send password data. The primary technical challenge addressed by ScreenPass is guaranteeing that trusted code is always aware of when a user is entering a password. ScreenPass provides this guarantee through two techniques. First, ScreenPass includes a trusted software keyboard that encourages users to specify their passwords' domains as they are entered (i.e., to tag their passwords). Second, ScreenPass performs optical character recognition (OCR) on a device's screenbuffer to ensure that passwords are entered only through the trusted software keyboard. We have evaluated ScreenPass through experiments with a prototype implementation, two in-situ user studies, and a small app study. Our prototype detected a wide range of dynamic and static keyboard-spoofing attacks and generated zero false positives. As long as a screen is off, not updated, or not tapped, our prototype consumes zero additional energy; in the worst case, when a highly interactive app rapidly updates the screen, our prototype under a typical configuration introduces only 12% energy overhead. Participants in our user studies tagged their passwords at a high rate and reported that tagging imposed no additional burden. Finally, a study of malicious and non-malicious apps running under ScreenPass revealed several cases of password mishandling.",
"title": ""
},
{
"docid": "467f7ac9d8f52b9b82257e736910fab6",
"text": "The manual assessment of activities of daily living (ADLs) is a fundamental problem in elderly care. The use of miniature sensors placed in the environment or worn by a person has great potential in effective and unobtrusive long term monitoring and recognition of ADLs. This paper presents an effective and unobtrusive activity recognition system based on the combination of the data from two different types of sensors: RFID tag readers and accelerometers. We evaluate our algorithms on non-scripted datasets of 10 housekeeping activities performed by 12 subjects. The experimental results show that recognition accuracy can be significantly improved by fusing the two different types of sensors. We analyze different acceleration features and algorithms, and based on tag detections we suggest the best tagspsila placements and the key objects to be tagged for each activity.",
"title": ""
},
{
"docid": "af5a2ad28ab61015c0344bf2e29fe6a7",
"text": "Recent years have shown that more than ever governments and intelligence agencies try to control and bypass the cryptographic means used for the protection of data. Backdooring encryption algorithms is considered as the best way to enforce cryptographic control. Until now, only implementation backdoors (at the protocol/implementation/management level) are generally considered. In this paper we propose to address the most critical issue of backdoors: mathematical backdoors or by-design backdoors, which are put directly at the mathematical design of the encryption algorithm. While the algorithm may be totally public, proving that there is a backdoor, identifying it and exploiting it, may be an intractable problem. We intend to explain that it is probably possible to design and put such backdoors. Considering a particular family (among all the possible ones), we present BEA-1, a block cipher algorithm which is similar to the AES and which contains a mathematical backdoor enabling an operational and effective cryptanalysis. The BEA-1 algorithm (80-bit block size, 120-bit key, 11 rounds) is designed to resist to linear and differential cryptanalyses. A challenge will be proposed to the cryptography community soon. Its aim is to assess whether our backdoor is easily detectable and exploitable or not.",
"title": ""
}
] | scidocsrr |
6e76f748c9d8c6b4bc9e46a13dee51fd | A critical evaluation of the emotional intelligence construct | [
{
"docid": "346bedcddf74d56db8b2d5e8b565efef",
"text": "Ulric Neisser (Chair) Gwyneth Boodoo Thomas J. Bouchard, Jr. A. Wade Boykin Nathan Brody Stephen J. Ceci Diane E Halpern John C. Loehlin Robert Perloff Robert J. Sternberg Susana Urbina Emory University Educational Testing Service, Princeton, New Jersey University of Minnesota, Minneapolis Howard University Wesleyan University Cornell University California State University, San Bernardino University of Texas, Austin University of Pittsburgh Yale University University of North Florida",
"title": ""
}
] | [
{
"docid": "d94f4df63ac621d9a8dec1c22b720abb",
"text": "Automatically selecting an appropriate set of materialized views and indexes for SQL databases is a non-trivial task. A judicious choice must be cost-driven and influenced by the workload experienced by the system. Although there has been work in materialized view selection in the context of multidimensional (OLAP) databases, no past work has looked at the problem of building an industry-strength tool for automated selection of materialized views and indexes for SQL workloads. In this paper, we present an end-to-end solution to the problem of selecting materialized views and indexes. We describe results of extensive experimental evaluation that demonstrate the effectiveness of our techniques. Our solution is implemented as part of a tuning wizard that ships with Microsoft SQL Server 2000.",
"title": ""
},
{
"docid": "e464cde1434026c17b06716c6a416b7a",
"text": "Three experiments supported the hypothesis that people are more willing to express attitudes that could be viewed as prejudiced when their past behavior has established their credentials as nonprejudiced persons. In Study 1, participants given the opportunity to disagree with blatantly sexist statements were later more willing to favor a man for a stereotypically male job. In Study 2, participants who first had the opportunity to select a member of a stereotyped group (a woman or an African American) for a category-neutral job were more likely to reject a member of that group for a job stereotypically suited for majority members. In Study 3, participants who had established credentials as nonprejudiced persons revealed a greater willingness to express a politically incorrect opinion even when the audience was unaware of their credentials. The general conditions under which people feel licensed to act on illicit motives are discussed.",
"title": ""
},
{
"docid": "505b1fc76ef4e3fa6b0d5101e3dfd4fb",
"text": "In this work the problem of guided improvisation is approached and elaborated; then a new method, Variable Markov Oracle, for guided music synthesis is proposed as the first step to tackle the guided improvisation problem. Variable Markov Oracle is based on previous results from Audio Oracle, which is a fast indexing and recombination method of repeating sub-clips in an audio signal. The newly proposed Variable Markov Oracle is capable of identifying inherent datapoint clusters in an audio signal while tracking the sequential relations among clusters at the same time. With a target audio signal indexed by Variable Markov Oracle, a query-matching algorithm is devised to synthesize new music materials by recombination of the target audio matched to a query audio. This approach makes the query-matching algorithm a solution to the guided music synthesis problem. The query-matching algorithm is efficient and intelligent since it follows the inherent clusters discovered by Variable Markov Oracle, creating a query-by-content result which allows numerous applications in concatenative synthesis, machine improvisation and interactive music system. Examples of using Variable Markov Oracle to synthesize new musical materials based on given music signals in the style of",
"title": ""
},
{
"docid": "0e56ef5556c34274de7d7dceff17317e",
"text": "We investigate grounded sentence representations, where we train a sentence encoder to predict the image features of a given caption— i.e., we try to “imagine” how a sentence would be depicted visually—and use the resultant features as sentence representations. We examine the quality of the learned representations on a variety of standard sentence representation quality benchmarks, showing improved performance for groundedmodels over non-grounded ones. In addition, we thoroughly analyze the extent to which grounding contributes to improved performance, and show that the system also learns improved word embeddings.",
"title": ""
},
{
"docid": "d6c490c24aaa6f3798f31e713441ef72",
"text": "High-level synthesis (HLS) has been gaining traction recently as a design methodology for FPGAs, with the promise of raising the productivity of FPGA hardware designers, and ultimately, opening the door to the use of FPGAs as computing devices targetable by software engineers. In this tutorial, we introduce LegUp, an open-source HLS tool for FPGAs developed at the University of Toronto. With LegUp, a user can compile a C program completely to hardware, or alternately, he/she can choose to compile the program to a hybrid hardware/software system comprising a processor along with one or more accelerators. LegUp supports the synthesis of most of the C language to hardware, including loops, structs, multi-dimensional arrays, pointer arithmetic, and floating point operations. The LegUp distribution includes the CHStone HLS benchmark suite, as well as a test suite and associated infrastructure for measuring quality of results, and for verifying the functionality of LegUp-generated circuits. LegUp is freely downloadable at www.legup.org, providing a powerful platform that can be leveraged for new high-level synthesis research.",
"title": ""
},
{
"docid": "382fd1b9fca8163718548522ce05c58d",
"text": "Software development involves a number of interrelated factors which affect development effort and productivity. Since many of these relationships are not well understood, accurate estimation of so&are development time and effort is a dificult problem. Most estimation models in use or proposed in the literature are based on regression techniques. This paper examines the potential of two artijcial intelligence approaches i.e. artificial neural network and case-based reasoning for creating development effort estimation models. Artijcial neural network can provide accurate estimates when there are complex relationships between variables and where the input data is distorted by high noise levels Case-based reasoning solves problems by adapting solutions from old problems similar to the current problem. This research examines both the performance of back-propagation artificial neural networks in estimating software development effort and the potential of case-based reasoning for development estimation using the same dataset.",
"title": ""
},
{
"docid": "32764726652b5f95aa2d208f80e967c0",
"text": "Simulation is a technique-not a technology-to replace or amplify real experiences with guided experiences that evoke or replicate substantial aspects of the real world in a fully interactive manner. The diverse applications of simulation in healthcare can be categorized by 11 dimensions: aims and purposes of the simulation activity; unit of participation; experience level of participants; healthcare domain; professional discipline of participants; type of knowledge, skill, attitudes, or behaviors addressed; the simulated patient's age; technology applicable or required; site of simulation; extent of direct participation; and method of feedback used. Using simulation to improve safety will require full integration of its applications into the routine structures and practices of healthcare. The costs and benefits of simulation are difficult to determine, especially for the most challenging applications, where long-term use may be required. Various driving forces and implementation mechanisms can be expected to propel simulation forward, including professional societies, liability insurers, healthcare payers, and ultimately the public. The future of simulation in healthcare depends on the commitment and ingenuity of the healthcare simulation community to see that improved patient safety using this tool becomes a reality.",
"title": ""
},
{
"docid": "5f3dc141b69eb50e17bdab68a2195e13",
"text": "The purpose of this study is to develop a fuzzy-AHP multi-criteria decision making model for procurement process. It aims to measure the procurement performance in the automotive industry. As such measurement of procurement will enable competitive advantage and provide a model for continuous improvement. The rapid growth in the market and the level of competition in the global economy transformed procurement as a strategic issue; which is broader in scope and responsibilities as compared to purchasing. This study reviews the existing literature in procurement performance measurement to identify the key areas of measurement and a hierarchical model is developed with a set of generic measures. In addition, a questionnaire is developed for pair-wise comparison and to collect opinion from practitioners, researchers, managers etc. The relative importance of the measurement criteria are assessed using Analytical Hierarchy Process (AHP) and fuzzy-AHP. The validity of the model is c onfirmed with the results obtained.",
"title": ""
},
{
"docid": "764eba2c2763db6dce6c87170e06d0f8",
"text": "Kansei Engineering was developed as a consumer-oriented technology for new product development. It is defined as \"translating technology of a consumer's feeling and image for a product into design elements\". Kansei Engineering (KE) technology is classified into three types, KE Type I, II, and III. KE Type I is a category classification on the new product toward the design elements. Type II utilizes the current computer technologies such as Expert System, Neural Network Model and Genetic Algorithm. Type III is a model using a mathematical structure. Kansei Engineering has permeated Japanese industries, including automotive, electrical appliance, construction, clothing and so forth. The successful companies using Kansei Engineering benefited from good sales regarding the new consumer-oriented products. Relevance to industry Kansei Engineering is utilized in the automotive, electrical appliance, construction, clothing and other industries. This paper provides help to potential product designers in these industries.",
"title": ""
},
{
"docid": "779d75beb7ea4967f9503d6c4d087a5d",
"text": "BACKGROUND\nTeaching is considered a highly stressful occupation. Burnout is a negative affective response occurring as a result of chronic work stress. While the early theories of burnout focused exclusively on work-related stressors, recent research adopts a more integrative approach where both environmental and individual factors are studied. Nevertheless, such studies are scarce with teacher samples.\n\n\nAIMS\nThe present cross-sectional study sought to investigate the association between burnout, personality characteristics and job stressors in primary school teachers from Cyprus. The study also investigates the relative contribution of these variables on the three facets of burnout - emotional exhaustion, depersonalization and reduced personal accomplishment.\n\n\nSAMPLE\nA representative sample of 447 primary school teachers participated in the study.\n\n\nMETHOD\nTeachers completed measures of burnout, personality and job stressors along with demographic and professional data. Surveys were delivered by courier to schools, and were distributed at faculty meetings.\n\n\nRESULTS\nResults showed that both personality and work-related stressors were associated with burnout dimensions. Neuroticism was a common predictor of all dimensions of burnout although in personal accomplishment had a different direction. Managing student misbehaviour and time constraints were found to systematically predict dimensions of burnout.\n\n\nCONCLUSIONS\nTeachers' individual characteristics as well as job related stressors should be taken into consideration when studying the burnout phenomenon. The fact that each dimension of the syndrome is predicted by different variables should not remain unnoticed especially when designing and implementing intervention programmes to reduce burnout in teachers.",
"title": ""
},
{
"docid": "e1afaed983932bc98c5b0b057d4b5ab6",
"text": "This paper presents a novel solution for the problem of building text classifier using positive documents (P) and unlabeled documents (U). Here, the unlabeled documents are mixed with positive and negative documents. This problem is also called PU-Learning. The key feature of PU-Learning is that there is no negative document for training. Recently, several approaches have been proposed for solving this problem. Most of them are based on the same idea, which builds a classifier in two steps. Each existing technique uses a different method for each step. Generally speaking, these existing approaches do not perform well when the size of P is small. In this paper, we propose a new approach aiming at improving the system when the size of P is small. This approach combines the graph-based semi-supervised learning method with the two-step method. Experiments indicate that our proposed method performs well especially when the size of P is small.",
"title": ""
},
{
"docid": "9e3057c25630bfdf5e7ebcc53b6995b0",
"text": "We present a new solution to the ``ecological inference'' problem, of learning individual-level associations from aggregate data. This problem has a long history and has attracted much attention, debate, claims that it is unsolvable, and purported solutions. Unlike other ecological inference techniques, our method makes use of unlabeled individual-level data by embedding the distribution over these predictors into a vector in Hilbert space. Our approach relies on recent learning theory results for distribution regression, using kernel embeddings of distributions. Our novel approach to distribution regression exploits the connection between Gaussian process regression and kernel ridge regression, giving us a coherent, Bayesian approach to learning and inference and a convenient way to include prior information in the form of a spatial covariance function. Our approach is highly scalable as it relies on FastFood, a randomized explicit feature representation for kernel embeddings. We apply our approach to the challenging political science problem of modeling the voting behavior of demographic groups based on aggregate voting data. We consider the 2012 US Presidential election, and ask: what was the probability that members of various demographic groups supported Barack Obama, and how did this vary spatially across the country? Our results match standard survey-based exit polling data for the small number of states for which it is available, and serve to fill in the large gaps in this data, at a much higher degree of granularity.",
"title": ""
},
{
"docid": "e20d26ce3dea369ae6817139ff243355",
"text": "This article explores the roots of white support for capital punishment in the United States. Our analysis addresses individual-level and contextual factors, paying particular attention to how racial attitudes and racial composition influence white support for capital punishment. Our findings suggest that white support hinges on a range of attitudes wider than prior research has indicated, including social and governmental trust and individualist and authoritarian values. Extending individual-level analyses, we also find that white responses to capital punishment are sensitive to local context. Perhaps most important, our results clarify the impact of race in two ways. First, racial prejudice emerges here as a comparatively strong predictor of white support for the death penalty. Second, black residential proximity functions to polarize white opinion along lines of racial attitude. As the black percentage of county residents rises, so too does the impact of racial prejudice on white support for capital punishment.",
"title": ""
},
{
"docid": "ec1da767db4247990c26f97483f1b9e1",
"text": "We survey foundational features underlying modern graph query languages. We first discuss two popular graph data models: edge-labelled graphs, where nodes are connected by directed, labelled edges, and property graphs, where nodes and edges can further have attributes. Next we discuss the two most fundamental graph querying functionalities: graph patterns and navigational expressions. We start with graph patterns, in which a graph-structured query is matched against the data. Thereafter, we discuss navigational expressions, in which patterns can be matched recursively against the graph to navigate paths of arbitrary length; we give an overview of what kinds of expressions have been proposed and how they can be combined with graph patterns. We also discuss several semantics under which queries using the previous features can be evaluated, what effects the selection of features and semantics has on complexity, and offer examples of such features in three modern languages that are used to query graphs: SPARQL, Cypher, and Gremlin. We conclude by discussing the importance of formalisation for graph query languages; a summary of what is known about SPARQL, Cypher, and Gremlin in terms of expressivity and complexity; and an outline of possible future directions for the area.",
"title": ""
},
{
"docid": "3b26a62ec701f34c9876bd93c494412d",
"text": "Emotions affect many aspects of our daily lives including decision making, reasoning and physical wellbeing. Researchers have therefore addressed the detection of emotion from individuals' heart rate, skin conductance, pupil dilation, tone of voice, facial expression and electroencephalogram (EEG). This paper presents an algorithm for classifying positive and negative emotions from EEG. Unlike other algorithms that extract fuzzy rules from the data, the fuzzy rules used in this paper are obtained from emotion classification research reported in the literature and the classification output indicates both the type of emotion and its strength. The results show that the algorithm is more than 90 times faster than the widely used LIBSVM and the obtained average accuracy of 63.52 % is higher than previously reported using the same EEG dataset. This makes this algorithm attractive for real time emotion classification. In addition, the paper introduces a new oscillation feature computed from local minima and local maxima of the signal.",
"title": ""
},
{
"docid": "a227cdfba497e6e6d356e50fa5d90afc",
"text": "SUMMARY\nThe Biopython project is a mature open source international collaboration of volunteer developers, providing Python libraries for a wide range of bioinformatics problems. Biopython includes modules for reading and writing different sequence file formats and multiple sequence alignments, dealing with 3D macro molecular structures, interacting with common tools such as BLAST, ClustalW and EMBOSS, accessing key online databases, as well as providing numerical methods for statistical learning.\n\n\nAVAILABILITY\nBiopython is freely available, with documentation and source code at (www.biopython.org) under the Biopython license.",
"title": ""
},
{
"docid": "2959b7da07ce8b0e6825819566bce9ab",
"text": "Social isolation among the elderly is a concern in developed countries. Using a randomized trial, this study examined the effect of a social isolation prevention program on loneliness, depression, and subjective well-being of the elderly in Japan. Among the elderly people who relocated to suburban Tokyo, 63 who responded to a pre-test were randomized and assessed 1 and 6 months after the program. Four sessions of a group-based program were designed to prevent social isolation by improving community knowledge and networking with other participants and community \"gatekeepers.\" The Life Satisfaction Index A (LSI-A), Geriatric Depression Scale (GDS), Ando-Osada-Kodama (AOK) loneliness scale, social support, and other variables were used as outcomes of this study. A linear mixed model was used to compare 20 of the 21 people in the intervention group to 40 of the 42 in the control group, and showed that the intervention program had a significant positive effect on LSI-A, social support, and familiarity with services scores and a significant negative effect on AOK over the study period. The program had no significant effect on depression. The findings of this study suggest that programs aimed at preventing social isolation are effective when they utilize existing community resources, are tailor-made based on the specific needs of the individual, and target people who can share similar experiences.",
"title": ""
},
{
"docid": "1168c9e6ce258851b15b7e689f60e218",
"text": "Modern deep learning architectures produce highly accurate results on many challenging semantic segmentation datasets. State-of-the-art methods are, however, not directly transferable to real-time applications or embedded devices, since naïve adaptation of such systems to reduce computational cost (speed, memory and energy) causes a significant drop in accuracy. We propose ContextNet, a new deep neural network architecture which builds on factorized convolution, network compression and pyramid representation to produce competitive semantic segmentation in real-time with low memory requirement. ContextNet combines a deep network branch at low resolution that captures global context information efficiently with a shallow branch that focuses on highresolution segmentation details. We analyse our network in a thorough ablation study and present results on the Cityscapes dataset, achieving 66.1% accuracy at 18.3 frames per second at full (1024× 2048) resolution (23.2 fps with pipelined computations for streamed data).",
"title": ""
},
{
"docid": "625002b73c5e386989ddd243a71a1b56",
"text": "AutoTutor is a learning environment that tutors students by holding a conversation in natural language. AutoTutor has been developed for Newtonian qualitative physics and computer literacy. Its design was inspired by explanation-based constructivist theories of learning, intelligent tutoring systems that adaptively respond to student knowledge, and empirical research on dialogue patterns in tutorial discourse. AutoTutor presents challenging problems (formulated as questions) from a curriculum script and then engages in mixed initiative dialogue that guides the student in building an answer. It provides the student with positive, neutral, or negative feedback on the student's typed responses, pumps the student for more information, prompts the student to fill in missing words, gives hints, fills in missing information with assertions, identifies and corrects erroneous ideas, answers the student's questions, and summarizes answers. AutoTutor has produced learning gains of approximately .70 sigma for deep levels of comprehension.",
"title": ""
}
] | scidocsrr |
9263a2626034f037af2424c5c2c6b5cc | Design Decisions: The Bridge between Rationale and Architecture | [
{
"docid": "5ae890862d844ce03359624c3cb2012b",
"text": "Spend your time even for only few minutes to read a book. Reading a book will never reduce and waste your time to be useless. Reading, for some people become a need that is to do every day such as spending time for eating. Now, what about you? Do you like to read a book? Now, we will show you a new book enPDFd software architecture in practice second edition that can be a new way to explore the knowledge. When reading this book, you can get one thing to always remember in every reading time, even step by step.",
"title": ""
}
] | [
{
"docid": "3c4a8623330c48558ca178a82b68f06c",
"text": "Humans assimilate information from the traffic environment mainly through visual perception. Obviously, the dominant information required to conduct a vehicle can be acquired with visual sensors. However, in contrast to most other sensor principles, video signals contain relevant information in a highly indirect manner and hence visual sensing requires sophisticated machine vision and image understanding techniques. This paper provides an overview on the state of research in the field of machine vision for intelligent vehicles. The functional spectrum addressed covers the range from advanced driver assistance systems to autonomous driving. The organization of the article adopts the typical order in image processing pipelines that successively condense the rich information and vast amount of data in video sequences. Data-intensive low-level “early vision” techniques first extract features that are later grouped and further processed to obtain information of direct relevance for vehicle guidance. Recognition and classification schemes allow to identify specific objects in a traffic scene. Recently, semantic labeling techniques using convolutional neural networks have achieved impressive results in this field. High-level decisions of intelligent vehicles are often influenced by map data. The emerging role of machine vision in the mapping and localization process is illustrated at the example of autonomous driving. Scene representation methods are discussed that organize the information from all sensors and data sources and thus build the interface between perception and planning. Recently, vision benchmarks have been tailored to various tasks in traffic scene perception that provide a metric for the rich diversity of machine vision methods. Finally, the paper addresses computing architectures suited to real-time implementation. Throughout the paper, numerous specific examples and real world experiments with prototype vehicles are presented.",
"title": ""
},
{
"docid": "b8124460ac2eeab0a5afa88ba6f92804",
"text": "Evidence from diverse literatures supports the viewpoint that two modes of self-regulation exist, a lower-order system that responds quickly to associative cues of the moment and a higher-order system that responds more reflectively and planfully; that low serotonergic function is linked to relative dominance of the lower-order system; that how dominance of the lower-order system is manifested depends on additional variables; and that low serotonergic function therefore can promote behavioral patterns as divergent as impulsive aggression and lethargic depression. Literatures reviewed include work on two-mode models; studies of brain function supporting the biological plausibility of the two-mode view and the involvement of serotonergic pathways in functions pertaining to it; and studies relating low serotonergic function to impulsiveness, aggression (including extreme violence), aspects of personality, and depression vulnerability. Substantial differences between depression and other phenomena reviewed are interpreted by proposing that depression reflects both low serotonergic function and low reward sensitivity. The article closes with brief consideration of the idea that low serotonergic function relates to even more diverse phenomena, whose natures depend in part on sensitivities of other systems.",
"title": ""
},
{
"docid": "e791574d97507c1ecc9912e6d5c5f1b0",
"text": "Sequential pattern mining is an important data mining problem with broad applications. However, it is also a difficult problem since the mining may have to generate or examine a combinatorially explosive number of intermediate subsequences. Most of the previously developed sequential pattern mining methods, such as GSP, explore a candidate generation-and-test approach [R. Agrawal et al. (1994)] to reduce the number of candidates to be examined. However, this approach may not be efficient in mining large sequence databases having numerous patterns and/or long patterns. In this paper, we propose a projection-based, sequential pattern-growth approach for efficient mining of sequential patterns. In this approach, a sequence database is recursively projected into a set of smaller projected databases, and sequential patterns are grown in each projected database by exploring only locally frequent fragments. Based on an initial study of the pattern growth-based sequential pattern mining, FreeSpan [J. Han et al. (2000)], we propose a more efficient method, called PSP, which offers ordered growth and reduced projected databases. To further improve the performance, a pseudoprojection technique is developed in PrefixSpan. A comprehensive performance study shows that PrefixSpan, in most cases, outperforms the a priori-based algorithm GSP, FreeSpan, and SPADE [M. Zaki, (2001)] (a sequential pattern mining algorithm that adopts vertical data format), and PrefixSpan integrated with pseudoprojection is the fastest among all the tested algorithms. Furthermore, this mining methodology can be extended to mining sequential patterns with user-specified constraints. The high promise of the pattern-growth approach may lead to its further extension toward efficient mining of other kinds of frequent patterns, such as frequent substructures.",
"title": ""
},
{
"docid": "de2f36b553a1b7d53659fd5d42a051d9",
"text": "In order to fit the diverse scenes in life, more and more people choose to join different types of social networks simultaneously. These different networks often contain the information that people leave in a particular scene. Under the circumstances, identifying the same person across different social networks is a crucial way to help us understand the user from multiple aspects. The current solution to this problem focuses on using only profile matching or relational matching method. Some other methods take the two aspect of information into consideration, but they associate the profile similarity with relation similarity simply by a parameter. The matching results on two dimensions may have large difference, directly link them may reduce the overall similarity. Unlike the most of the previous work, we propose to utilize collaborative training method to tackle this problem. We run experiments on two real-world social network datasets, and the experimental results confirmed the effectiveness of our method.",
"title": ""
},
{
"docid": "4e32fd1e49dc82e84df6de2714e918b2",
"text": "Chronic obstructive pulmonary disease (COPD), a disabling combination of emphysema and chronic bronchitis, relies on spirometric lung function measurements for clinical diagnosis and treatment. Because spirometers are unavailable in most of the developing world, this project developed a low cost point of care spirometer prototype for the mobile phone called the “TeleSpiro.” The key contributions of this work are the design of a novel repeat-use, sterilisable, low cost, phone-powered prototype meeting developing world user requirements. A differential pressure sensor, dual humidity/pressure sensor, microcontroller and USB hardware were mounted on a printed circuit board for measurement of air flow in a custom machine-lathed respiratory air flow tube. The embedded circuit electronics were programmed to transmit data to and receive power directly from either a computer or Android smartphone without the use of batteries. Software was written to filter and extract respiratory cycles from the digitised data. Differential pressure signals from Telespiro showed robust, reproducible responses to the delivery of physiologic lung volumes. The designed device satisfied the stringent design criteria of resource-limited settings and makes substantial inroads in providing evidence-based chronic respiratory disease management.",
"title": ""
},
{
"docid": "65ba10afbe83c269530e0779499c653c",
"text": "The subjective nature of qualitative research necessitates scrupulous scientific methods to ensure valid results. Although qualitative methods such as grounded theory, phenomenology, and ethnography yield rich data, consumers of research need to be able to trust the findings reported in such studies. Researchers are responsible for establishing the trustworthiness of qualitative research through a variety of ways. Specific challenges faced in the field can seriously threaten the dependability of the data. However, by minimizing potential errors that can occur when doing fieldwork, researchers can increase the trustworthiness of the study. The purpose of this article is to present three of the pitfalls that can occur in qualitative research during data collection and transcription: equipment failure, environmental hazards, and transcription errors. Specific strategies to minimize the risk for avoidable errors will be discussed.",
"title": ""
},
{
"docid": "d0ea12e1aa134a1b033d78e9c94ff59e",
"text": "This introductory tutorial presents an over view of the process of conducting a simulation study of any discrete system. The basic viewpoint is that conducting such a study requires both art and science. Some of the issues addressed are how to get started, the steps to be followed, the issues to be faced at each step, the potential pitfalls occurring at each step, and the most common causes of failures.",
"title": ""
},
{
"docid": "57d162c64d93b28f6be1e086b5a1c134",
"text": "Making deep convolutional neural networks more accurate typically comes at the cost of increased computational and memory resources. In this paper, we reduce this cost by exploiting the fact that the importance of features computed by convolutional layers is highly input-dependent, and propose feature boosting and suppression (FBS), a new method to predictively amplify salient convolutional channels and skip unimportant ones at run-time. FBS introduces small auxiliary connections to existing convolutional layers. In contrast to channel pruning methods which permanently remove channels, it preserves the full network structures and accelerates convolution by dynamically skipping unimportant input and output channels. FBS-augmented networks are trained with conventional stochastic gradient descent, making it readily available for many state-of-the-art CNNs. We compare FBS to a range of existing channel pruning and dynamic execution schemes and demonstrate large improvements on ImageNet classification. Experiments show that FBS can respectively provide 5× and 2× savings in compute on VGG-16 and ResNet-18, both with less than 0.6% top-5 accuracy loss.",
"title": ""
},
{
"docid": "69dfe6a7a3738a00d32eb18491a83f5c",
"text": "Real-time transmission of video data in network environments, such as wireless and Internet, is a challenging task, as it requires high compression efficiency and network friendly design. H.264/AVC is the newest international video coding standard, jointly developed by groups from ISO/IEC and ITU-T, which aims at achieving improved compression performance and a network-friendly video representation for different types of applications, such as conversational, storage, and streaming. In this paper, we discuss various error resiliency schemes employed by H.264/AVC. The related topics such as nonnormative error concealment and network environment are also described. Some experimental results are discussed to show the performance of error resiliency schemes.",
"title": ""
},
{
"docid": "34baa9b0e77f6ef290ab54889edf293d",
"text": "Concurrent with the enactment of metric conversion legislation by the U. S. Congress in 1975, the Motor and Generator Section of the National Electrical Manufacturer Association (NEMA) voted to proceed with the development of a Guide for the Development of Metric Standards for Motors and Generators, referred to as the \" IMetric Guide\" or \"the Guide.\" The first edition was published in 1978, followed by a second, more extensive, edition in November 1980. A summary of the Metric Guide, is given, including comparison with NEMA and International Electrotechnical Commission (IEC) standards.",
"title": ""
},
{
"docid": "a839016be99c3cb93d30fa48403086d8",
"text": "At synapses of the mammalian central nervous system, release of neurotransmitter occurs at rates transiently as high as 100 Hz, putting extreme demands on nerve terminals with only tens of functional vesicles at their disposal. Thus, the presynaptic vesicle cycle is particularly critical to maintain neurotransmission. To understand vesicle cycling at the most fundamental level, we studied single vesicles undergoing exo/endocytosis and tracked the fate of newly retrieved vesicles. This was accomplished by minimally stimulating boutons in the presence of the membrane-fluorescent styryl dye FM1-43, then selecting for terminals that contained only one dye-filled vesicle. We then observed the kinetics of dye release during single action potential stimulation. We found that most vesicles lost only a portion of their total dye during a single fusion event, but were able to fuse again soon thereafter. We interpret this as direct evidence of \"kiss-and-run\" followed by rapid reuse. Other interpretations such as \"partial loading\" and \"endosomal splitting\" were largely excluded on the basis of multiple lines of evidence. Our data placed an upper bound of <1.4 s on the lifetime of the kiss-and-run fusion event, based on the assumption that aqueous departitioning is rate limiting. The repeated use of individual vesicles held over a range of stimulus frequencies up to 30 Hz and was associated with neurotransmitter release. A small percentage of fusion events did release a whole vesicle's worth of dye in one action potential, consistent with a classical picture of exocytosis as fusion followed by complete collapse or at least very slow retrieval.",
"title": ""
},
{
"docid": "1547a67fd88ac720f4521a206a26dff3",
"text": "A core business in the fashion industry is the understanding and prediction of customer needs and trends. Search engines and social networks are at the same time a fundamental bridge and a costly middleman between the customer’s purchase intention and the retailer. To better exploit Europe’s distinctive characteristics e.g., multiple languages, fashion and cultural differences, it is pivotal to reduce retailers’ dependence to search engines. This goal can be achieved by harnessing various data channels (manufacturers and distribution networks, online shops, large retailers, social media, market observers, call centers, press/magazines etc.) that retailers can leverage in order to gain more insight about potential buyers, and on the industry trends as a whole. This can enable the creation of novel on-line shopping experiences, the detection of influencers, and the prediction of upcoming fashion trends. In this paper, we provide an overview of the main research challenges and an analysis of the most promising technological solutions that we are investigating in the FashionBrain project.",
"title": ""
},
{
"docid": "98f814584c555baa05a1292e7e14f45a",
"text": "This paper presents two types of dual band (2.4 and 5.8 GHz) wearable planar dipole antennas, one printed on a conventional substrate and the other on a two-dimensional metamaterial surface (Electromagnetic Bandgap (EBG) structure). The operation of both antennas is investigated and compared under different bending conditions (in E and H-planes) around human arm and leg of different radii. A dual band, Electromagnetic Band Gap (EBG) structure on a wearable substrate is used as a high impedance surface to control the Specific Absorption Rate (SAR) as well as to improve the antenna gain up to 4.45 dBi. The EBG inspired antenna has reduced the SAR effects on human body to a safe level (< 2W/Kg). I.e. the SAR is reduced by 83.3% for lower band and 92.8% for higher band as compared to the conventional antenna. The proposed antenna can be used for wearable applications with least health hazard to human body in Industrial, Scientific and Medical (ISM) band (2.4 GHz, 5.2 GHz) applications. The antennas on human body are simulated and analyzed in CST Microwave Studio (CST MWS).",
"title": ""
},
{
"docid": "c82f4117c7c96d0650eff810f539c424",
"text": "The Stock Market is known for its volatile and unstable nature. A particular stock could be thriving in one period and declining in the next. Stock traders make money from buying equity when they are at their lowest and selling when they are at their highest. The logical question would be: \"What Causes Stock Prices To Change?\". At the most fundamental level, the answer to this would be the demand and supply. In reality, there are many theories as to why stock prices fluctuate, but there is no generic theory that explains all, simply because not all stocks are identical, and one theory that may apply for today, may not necessarily apply for tomorrow. This paper covers various approaches taken to attempt to predict the stock market without extensive prior knowledge or experience in the subject area, highlighting the advantages and limitations of the different techniques such as regression and classification. We formulate both short term and long term predictions. Through experimentation we achieve 81% accuracy for future trend direction using classification, 0.0117 RMSE for next day price and 0.0613 RMSE for next day change in price using regression techniques. The results obtained in this paper are achieved using only historic prices and technical indicators. Various methods, tools and evaluation techniques will be assessed throughout the course of this paper, the result of this contributes as to which techniques will be selected and enhanced in the final artefact of a stock prediction model. Further work will be conducted utilising deep learning techniques to approach the problem. This paper will serve as a preliminary guide to researchers wishing to expose themselves to this area.",
"title": ""
},
{
"docid": "afae709279cd8adeda2888089872d70e",
"text": "One-class classification problemhas been investigated thoroughly for past decades. Among one of themost effective neural network approaches for one-class classification, autoencoder has been successfully applied for many applications. However, this classifier relies on traditional learning algorithms such as backpropagation to train the network, which is quite time-consuming. To tackle the slow learning speed in autoencoder neural network, we propose a simple and efficient one-class classifier based on extreme learning machine (ELM).The essence of ELM is that the hidden layer need not be tuned and the output weights can be analytically determined, which leads to much faster learning speed.The experimental evaluation conducted on several real-world benchmarks shows that the ELM based one-class classifier can learn hundreds of times faster than autoencoder and it is competitive over a variety of one-class classification methods.",
"title": ""
},
{
"docid": "d455f379442de99caaccc312737546df",
"text": "Research suggests that rumination increases anger and aggression. Mindfulness, or present-focused and intentional awareness, may counteract rumination. Using structural equation modeling, we examined the relations between mindfulness, rumination, and aggression. In a pair of studies, we found a pattern of correlations consistent with rumination partially mediating a causal link between mindfulness and hostility, anger, and verbal aggression. The pattern was not consistent with rumination mediating the association between mindfulness and physical aggression. Although it is impossible with the current nonexperimental data to test causal mediation, these correlations support the idea that mindfulness could reduce rumination, which in turn could reduce aggression. These results suggest that longitudinal work and experimental manipulations mindfulness would be worthwhile approaches for further study of rumination and aggression. We discuss possible implications of these results.",
"title": ""
},
{
"docid": "a8b8f36f7093c79759806559fb0f0cf4",
"text": "Cooperative adaptive cruise control (CACC) is an extension of ACC. In addition to measuring the distance to a predecessor, a vehicle can also exchange information with a predecessor by wireless communication. This enables a vehicle to follow its predecessor at a closer distance under tighter control. This paper focuses on the impact of CACC on traffic-flow characteristics. It uses the traffic-flow simulation model MIXIC that was specially designed to study the impact of intelligent vehicles on traffic flow. The authors study the impacts of CACC for a highway-merging scenario from four to three lanes. The results show an improvement of traffic-flow stability and a slight increase in traffic-flow efficiency compared with the merging scenario without equipped vehicles",
"title": ""
},
{
"docid": "e3fe0379cf84f2834eeee6e29d6206b3",
"text": "A method is presented in this paper for the design of a high frequency CMOS operational amplifier (OpAmp) which operates at 3V power supply using tsmc 0.18 micron CMOS technology. The OPAMP designed is a two-stage CMOS OPAMP followed by an output buffer. This Operational Transconductance Amplifier (OTA) employs a Miller capacitor and is compensated with a current buffer compensation technique. The unique behaviour of the MOS transistors in saturation region not only allows a designer to work at a low voltage, but also at a high frequency. Designing of two-stage op-amps is a multi-dimensional-optimization problem where optimization of one or more parameters may easily result into degradation of others. The OPAMP is designed to exhibit a unity gain frequency of 2.02GHz and exhibits a gain of 49.02dB with a 60.5 0 phase margin. As compared to the conventional approach, the proposed compensation method results in a higher unity gain frequency under the same load condition. Design has been carried out in Tanner tools. Simulation results are verified using S-edit and W-edit.",
"title": ""
},
{
"docid": "a2eee3cd0e8ee3e97af54f11b8a29fc9",
"text": "Internet Service Providers (ISPs) are responsible for transmitting and delivering their customers’ data requests, ranging from requests for data from websites, to that from filesharing applications, to that from participants in Voice over Internet Protocol (VoIP) chat sessions. Using contemporary packet inspection and capture technologies, ISPs can investigate and record the content of unencrypted digital communications data packets. This paper explains the structure of these packets, and then proceeds to describe the packet inspection technologies that monitor their movement and extract information from the packets as they flow across ISP networks. After discussing the potency of contemporary deep packet inspection devices, in relation to their earlier packet inspection predecessors, and their potential uses in improving network operators’ network management systems, I argue that they should be identified as surveillance technologies that can potentially be incredibly invasive. Drawing on Canadian examples, I argue that Canadian ISPs are using DPI technologies to implicitly ‘teach’ their customers norms about what are ‘inappropriate’ data transfer programs, and the appropriate levels of ISP manipulation of customer data traffic. Version 1.2 :: January 10, 2008. * Doctoral student in the University of Victoria’s Political Science department. Thanks to Colin Bennett, Andrew Clement, Fenwick Mckelvey and Joyce Parsons for comments.",
"title": ""
}
] | scidocsrr |
dfbc38a49a35e0519f42b8da546c8212 | Natural Language Communication with Robots | [
{
"docid": "485cda7203863d2ff0b2070ca61b1126",
"text": "Interestingly, understanding natural language that you really wait for now is coming. It's significant to wait for the representative and beneficial books to read. Every book that is provided in better way and utterance will be expected by many peoples. Even you are a good reader or not, feeling to read this book will always appear when you find it. But, when you feel hard to find it as yours, what to do? Borrow to your friends and don't know when to give back it to her or him.",
"title": ""
}
] | [
{
"docid": "d18c3e9f7b77a130dc7b7d76a3e2bbe4",
"text": "Laser grooving process is crucial to thin chip strength. Much of paper has been put on the mechanism of laser grooving, but only few investigations were taken for chip strength enhancement. In this paper, thin chip (less than 100um chip thickness) is adopted, and the experiment of laser grooving process is carried out for mechanical characteristics evaluation. Based on experiment results, the optimal process condition has been determined. A notable improvement for thin chip strength is achieved after process optimization.",
"title": ""
},
{
"docid": "c91cc6de1e26d9ac9b5ba03ba67fa9b9",
"text": "As in most of the renewable energy sources it is not possible to generate high voltage directly, the study of high gain dc-dc converters is an emerging area of research. This paper presents a high step-up dc-dc converter based on current-fed Cockcroft-Walton multiplier. This converter not only steps up the voltage gain but also eliminates the use of high frequency transformer which adds to cost and design complexity. N-stage Cockcroft-Walton has been utilized to increase the voltage gain in place of a transformer. This converter also provides dual input operation, interleaved mode and maximum power point tracking control (if solar panel is used as input). This converter is utilized for resistive load and a pulsed power supply and the effect is studied in high voltage application. Simulation has been performed by designing a converter of 450 W, 400 V with single source and two stage of Cockcroft-Walton multiplier and interleaved mode of operation is performed. Design parameters as well as simulation results are presented and verified in this paper.",
"title": ""
},
{
"docid": "8a6a26094a9752010bb7297ecc80cd15",
"text": "This paper provides standard instructions on how to protect short text messages with one-time pad encryption. The encryption is performed with nothing more than a pencil and paper, but provides absolute message security. If properly applied, it is mathematically impossible for any eavesdropper to decrypt or break the message without the proper key.",
"title": ""
},
{
"docid": "6b236f1e123dd27e7c52392e8efa500d",
"text": "An ordered probit regression model estimated using 15 years’ data is used to model English league football match results. As well as past match results data, the significance of the match for end-ofseason league outcomes; the involvement of the teams in cup competition; the geographical distance between the two teams’ home towns; and the average attendances of the two teams all contribute to the model’s performance. The model is used to test the weak-form efficiency of prices in the fixedodds betting market, and betting strategies with a positive expected return are identified.",
"title": ""
},
{
"docid": "974daec8be06ab2c386257751a69e6e4",
"text": "Inspired by recent successes of deep learning in computer vision, we propose a novel framework for encoding time series as different types of images, namely, Gramian Angular Summation/Difference Fields (GASF/GADF) and Markov Transition Fields (MTF). This enables the use of techniques from computer vision for time series classification and imputation. We used Tiled Convolutional Neural Networks (tiled CNNs) on 20 standard datasets to learn high-level features from the individual and compound GASF-GADF-MTF images. Our approaches achieve highly competitive results when compared to nine of the current best time series classification approaches. Inspired by the bijection property of GASF on 0/1 rescaled data, we train Denoised Auto-encoders (DA) on the GASF images of four standard and one synthesized compound dataset. The imputation MSE on test data is reduced by 12.18%-48.02% when compared to using the raw data. An analysis of the features and weights learned via tiled CNNs and DAs explains why the approaches work.",
"title": ""
},
{
"docid": "7ffaedeabffcc9816d1eb83a4e4cdfd0",
"text": "In this paper, we propose a new method for calculating the output layer in neural machine translation systems. The method is based on predicting a binary code for each word and can reduce computation time/memory requirements of the output layer to be logarithmic in vocabulary size in the best case. In addition, we also introduce two advanced approaches to improve the robustness of the proposed model: using error-correcting codes and combining softmax and binary codes. Experiments on two English ↔ Japanese bidirectional translation tasks show proposed models achieve BLEU scores that approach the softmax, while reducing memory usage to the order of less than 1/10 and improving decoding speed on CPUs by x5 to x10.",
"title": ""
},
{
"docid": "503951e241d69d6ca21392807141ad45",
"text": "The authors examined the efficacy, speed, and incidence of symptom worsening for 3 treatments of posttraumatic stress disorder (PTSD): prolonged exposure, relaxation training, or eye movement desensitization and reprocessing (EMDR; N = 60). Treaments did not differ in attrition, in the incidence of symptom worsening, or in their effects on numbing and hyperarousal symptoms. Compared with EMDR and relaxation training, exposure therapy (a) produced significantly larger reductions in avoidance and reexperiencing symptoms, (b) tended to be faster at reducing avoidance, and (c) tended to yield a greater proportion of participants who no longer met criteria for PTSD after treatment. EMDR and relaxation did not differ from one another in speed or efficacy.",
"title": ""
},
{
"docid": "5da804fa4c1474e27a1c91fcf5682e20",
"text": "We present an overview of Candide, a system for automatic translat ion of French text to English text. Candide uses methods of information theory and statistics to develop a probabili ty model of the translation process. This model, which is made to accord as closely as possible with a large body of French and English sentence pairs, is then used to generate English translations of previously unseen French sentences. This paper provides a tutorial in these methods, discussions of the training and operation of the system, and a summary of test results. 1. I n t r o d u c t i o n Candide is an experimental computer program, now in its fifth year of development at IBM, for translation of French text to Enghsh text. Our goal is to perform fuRy-automatic, high-quality text totext translation. However, because we are still far from achieving this goal, the program can be used in both fully-automatic and translator 's-assistant modes. Our approach is founded upon the statistical analysis of language. Our chief tools axe the source-channel model of communication, parametric probabili ty models of language and translation, and an assortment of numerical algorithms for training such models from examples. This paper presents elementary expositions of each of these ideas, and explains how they have been assembled to produce Caadide. In Section 2 we introduce the necessary ideas from information theory and statistics. The reader is assumed to know elementary probabili ty theory at the level of [1]. In Sections 3 and 4 we discuss our language and translation models. In Section 5 we describe the operation of Candide as it translates a French document. In Section 6 we present results of our internal evaluations and the AB.PA Machine Translation Project evaluations. Section 7 is a summary and conclusion. 2 . Stat is t ical Trans la t ion Consider the problem of translating French text to English text. Given a French sentence f , we imagine that it was originally rendered as an equivalent Enghsh sentence e. To obtain the French, the Enghsh was t ransmit ted over a noisy communication channel, which has the curious property that English sentences sent into it emerge as their French translations. The central assumption of Candide's design is that the characteristics of this channel can be determined experimentally, and expressed mathematically. *Current address: Renaissance Technologies, Stony Brook, NY ~ English-to-French I f e Channel \" _[ French-to-English -] Decoder 6 Figure 1: The Source-Channel Formalism of Translation. Here f is the French text to be translated, e is the putat ive original English rendering, and 6 is the English translation. This formalism can be exploited to yield French-to-English translations as follows. Let us write P r (e I f ) for the probability that e was the original English rendering of the French f. Given a French sentence f, the problem of automatic translation reduces to finding the English sentence tha t maximizes P.r(e I f) . That is, we seek 6 = argmsx e Pr (e I f) . By virtue of Bayes' Theorem, we have = argmax Pr(e If ) = argmax Pr(f I e)Pr(e) (1) e e The term P r ( f l e ) models the probabili ty that f emerges from the channel when e is its input. We call this function the translation model; its domain is all pairs (f, e) of French and English word-strings. The term Pr (e ) models the a priori probability that e was supp led as the channel input. We call this function the language model. Each of these fac tors the translation model and the language model independent ly produces a score for a candidate English translat ion e. The translation model ensures that the words of e express the ideas of f, and the language model ensures that e is a grammatical sentence. Candide sehcts as its translat ion the e that maximizes their product. This discussion begs two impor tant questions. First , where do the models P r ( f [ e) and Pr (e ) come from? Second, even if we can get our hands on them, how can we search the set of all English strings to find 6? These questions are addressed in the next two sections. 2.1. P robab i l i ty Models We begin with a brief detour into probabili ty theory. A probability model is a mathematical formula that purports to express the chance of some observation. A parametric model is a probability model with adjustable parameters, which can be changed to make the model bet ter match some body of data. Let us write c for a body of da ta to be modeled, and 0 for a vector of parameters. The quanti ty Prs (c ) , computed according to some formula involving c and 0, is called the hkelihood 157 [Human Language Technology, Plainsboro, 1994]",
"title": ""
},
{
"docid": "e76a9cef74788905d3d8f5659c2bfca2",
"text": "In this paper, we present a novel configuration for realizing monolithic substrate integrated waveguide (SIW)-based phased antenna arrays using Ferrite low-temperature cofired ceramic (LTCC) technology. Unlike the current common schemes for realizing SIW phased arrays that rely on surface-mount component (p-i-n diodes, etc.) for controlling the phase of the individual antenna elements, here the phase is tuned by biasing of the ferrite filling of the SIW. This approach eliminates the need for mounting of any additional RF components and enables seamless monolithic integration of phase shifters and antennas in SIW technology. As a proof of concept, a two-element slotted SIW-based phased array is designed, fabricated, and measured. The prototype exhibits a gain of 4.9 dBi at 13.2 GHz and a maximum E-plane beam-scanning of ±28° using external windings for biasing the phase shifters. Moreover, the array can achieve a maximum beam-scanning of ±19° when biased with small windings that are embedded in the package. This demonstration marks the first time a fully monolithic SIW-based phased array is realized in Ferrite LTCC technology and paves the way for future larger size implementations.",
"title": ""
},
{
"docid": "dcc7f48a828556808dc435deda5c1281",
"text": "Object detection and segmentation represents the basis for many tasks in computer and machine vision. In biometric recognition systems the detection of the region-of-interest (ROI) is one of the most crucial steps in the overall processing pipeline, significantly impacting the performance of the entire recognition system. Existing approaches to ear detection, for example, are commonly susceptible to the presence of severe occlusions, ear accessories or variable illumination conditions and often deteriorate in their performance if applied on ear images captured in unconstrained settings. To address these shortcomings, we present in this paper a novel ear detection technique based on convolutional encoder-decoder networks (CEDs). For our technique, we formulate the problem of ear detection as a two-class segmentation problem and train a convolutional encoder-decoder network based on the SegNet architecture to distinguish between image-pixels belonging to either the ear or the non-ear class. The output of the network is then post-processed to further refine the segmentation result and return the final locations of the ears in the input image. Different from competing techniques from the literature, our approach does not simply return a bounding box around the detected ear, but provides detailed, pixel-wise information about the location of the ears in the image. Our experiments on a dataset gathered from the web (a.k.a. in the wild) show that the proposed technique ensures good detection results in the presence of various covariate factors and significantly outperforms the existing state-of-the-art.",
"title": ""
},
{
"docid": "92b4d9c69969c66a1d523c38fd0495a4",
"text": "A level designer typically creates the levels of a game to cater for a certain set of objectives, or mission. But in procedural content generation, it is common to treat the creation of missions and the generation of levels as two separate concerns. This often leads to generic levels that allow for various missions. However, this also creates a generic impression for the player, because the potential for synergy between the objectives and the level is not utilised. Following up on the mission-space generation concept, as described by Dormans [5], we explore the possibilities of procedurally generating a level from a designer-made mission. We use a generative grammar to transform a mission into a level in a mixed-initiative design setting. We provide two case studies, dungeon levels for a rogue-like game, and platformer levels for a metroidvania game. The generators differ in the way they use the mission to generate the space, but are created with the same tool for content generation based on model transformations. We discuss the differences between the two generation processes and compare it with a parameterized approach.",
"title": ""
},
{
"docid": "57c0db8c200b94baa28779ff4f47d630",
"text": "The development of the Web services lets many users easily provide their opinions recently. Automatic summarization of enormous sentiments has been expected. Intuitively, we can summarize a review with traditional document summarization methods. However, such methods have not well-discussed “aspects”. Basically, a review consists of sentiments with various aspects. We summarize reviews for each aspect so that the summary presents information without biasing to a specific topic. In this paper, we propose a method for multiaspects review summarization based on evaluative sentence extraction. We handle three features; ratings of aspects, the tf -idf value, and the number of mentions with a similar topic. For estimating the number of mentions, we apply a clustering algorithm. By integrating these features, we generate a more appropriate summary. The experiment results show the effectiveness of our method.",
"title": ""
},
{
"docid": "6ea91574db57616682cf2a9608b0ac0b",
"text": "METHODOLOGY AND PRINCIPAL FINDINGS\nOleuropein promoted cultured human follicle dermal papilla cell proliferation and induced LEF1 and Cyc-D1 mRNA expression and β-catenin protein expression in dermal papilla cells. Nuclear accumulation of β-catenin in dermal papilla cells was observed after oleuropein treatment. Topical application of oleuropein (0.4 mg/mouse/day) to C57BL/6N mice accelerated the hair-growth induction and increased the size of hair follicles in telogenic mouse skin. The oleuropein-treated mouse skin showed substantial upregulation of Wnt10b, FZDR1, LRP5, LEF1, Cyc-D1, IGF-1, KGF, HGF, and VEGF mRNA expression and β-catenin protein expression.\n\n\nCONCLUSIONS AND SIGNIFICANCE\nThese results demonstrate that topical oleuroepin administration induced anagenic hair growth in telogenic C57BL/6N mouse skin. The hair-growth promoting effect of oleuropein in mice appeared to be associated with the stimulation of the Wnt10b/β-catenin signaling pathway and the upregulation of IGF-1, KGF, HGF, and VEGF gene expression in mouse skin tissue.",
"title": ""
},
{
"docid": "b96a571e57a3121746d841bed4af4dbe",
"text": "The Open Provenance Model is a model of provenance that is designed to meet the following requirements: (1) To allow provenance information to be exchanged between systems, by means of a compatibility layer based on a shared provenance model. (2) To allow developers to build and share tools that operate on such a provenance model. (3) To define provenance in a precise, technology-agnostic manner. (4) To support a digital representation of provenance for any “thing”, whether produced by computer systems or not. (5) To allow multiple levels of description to coexist. (6) To define a core set of rules that identify the valid inferences that can be made on provenance representation. This document contains the specification of the Open Provenance Model (v1.1) resulting from a community effort to achieve inter-operability in the Provenance Challenge series.",
"title": ""
},
{
"docid": "6706ad68059944988c41ba96e6d67f7c",
"text": "This paper investigates the motives, behavior, and characteristics shaping mutual fund managers’ willingness to incorporate Environmental, Social and Governance (ESG) issues into investment decision making. Using survey evidence from fund managers from five different countries, we demonstrate that this predisposition is the stronger, the shorter their average forecasting horizon and the higher their level of reliance on business risk in portfolio management is. We also find that the propensity to incorporate ESG factors is positively related to an increasing level of risk aversion, an increasing importance of salary change and senior management approval/disapproval as motivating factors as well as length of professional experience in current fund and increasing significance of assessment by superiors in remuneration. Overall, our evidence suggests that ESG diligence among fund managers serves mainly as a method for mitigating risk and is typically motivated by herding; it is much less important as a tool for additional value creation. The prevalent use of ESG criteria in mitigating risk is in contrast with traditional approach, but it is in line with behavioral finance theory. Additionally, our results also show a strong difference in the length of the forecasting horizon between continental European and Anglo-Saxon fund managers.",
"title": ""
},
{
"docid": "cfff07dbbc363a3e64b94648e19f2e4b",
"text": "Nitrogen (N) starvation and excess have distinct effects on N uptake and metabolism in poplars, but the global transcriptomic changes underlying morphological and physiological acclimation to altered N availability are unknown. We found that N starvation stimulated the fine root length and surface area by 54 and 49%, respectively, decreased the net photosynthetic rate by 15% and reduced the concentrations of NH4+, NO3(-) and total free amino acids in the roots and leaves of Populus simonii Carr. in comparison with normal N supply, whereas N excess had the opposite effect in most cases. Global transcriptome analysis of roots and leaves elucidated the specific molecular responses to N starvation and excess. Under N starvation and excess, gene ontology (GO) terms related to ion transport and response to auxin stimulus were enriched in roots, whereas the GO term for response to abscisic acid stimulus was overrepresented in leaves. Common GO terms for all N treatments in roots and leaves were related to development, N metabolism, response to stress and hormone stimulus. Approximately 30-40% of the differentially expressed genes formed a transcriptomic regulatory network under each condition. These results suggest that global transcriptomic reprogramming plays a key role in the morphological and physiological acclimation of poplar roots and leaves to N starvation and excess.",
"title": ""
},
{
"docid": "a1915a869616b9c8c2547f66ec89de13",
"text": "The harvest yield in vineyards can vary significantly from year to year and also spatially within plots due to variations in climate, soil conditions and pests. Fine grained knowledge of crop yields can allow viticulturists to better manage their vineyards. The current industry practice for yield prediction is destructive, expensive and spatially sparse - during the growing season sparse samples are taken and extrapolated to determine overall yield. We present an automated method that uses computer vision to detect and count grape berries. The method could potentially be deployed across large vineyards taking measurements at every vine in a non-destructive manner. Our berry detection uses both shape and visual texture and we can demonstrate detection of green berries against a green leaf background. Berry detections are counted and the eventual harvest yield is predicted. Results are presented for 224 vines (over 450 meters) of two different grape varieties and compared against the actual harvest yield as groundtruth. We calibrate our berry count to yield and find that we can predict yield of individual vineyard rows to within 9.8% of actual crop weight.",
"title": ""
},
{
"docid": "d51f6c74b69716db5e748ad07577aba6",
"text": "Feature selection and feature weighting are useful techniques for improving the classification accuracy of K-nearest-neighbor (K-NN) rule. The term feature selection refers to algorithms that select the best subset of the input feature set. In feature weighting, each feature is multiplied by a weight value proportional to the ability of the feature to distinguish pattern classes. In this paper, a novel hybrid approach is proposed for simultaneous feature selection and feature weighting of K-NN rule based on Tabu Search (TS) heuristic. The proposed TS heuristic in combination with K-NN classifier is compared with several classifiers on various available data sets. The results have indicated a significant improvement in the performance in classification accuracy. The proposed TS heuristic is also compared with various feature selection algorithms. Experiments performed revealed that the proposed hybrid TS heuristic is superior to both simple TS and sequential search algorithms. We also present results for the classification of prostate cancer using multispectral images, an important problem in biomedicine. 2006 Elsevier B.V. All rights reserved.",
"title": ""
},
{
"docid": "d8c04293459a66db4332696aea7791ce",
"text": "Techniques known as Nonlinear Set Membership prediction, Lipschitz Interpolation or Kinky Inference are approaches to machine learning that utilise presupposed Lipschitz properties to compute inferences over unobserved function values. Provided a bound on the true best Lipschitz constant of the target function is known a priori they offer convergence guarantees as well as bounds around the predictions. Considering a more general setting that builds on Hölder continuity relative to pseudo-metrics, we propose an online method for estimating the Hölder constant online from function value observations that possibly are corrupted by bounded observational errors. Utilising this to compute adaptive parameters within a kinky inference rule gives rise to a nonparametric machine learning method, for which we establish strong universal approximation guarantees. That is, we show that our prediction rule can learn any continuous function in the limit of increasingly dense data to within a worst-case error bound that depends on the level of observational uncertainty. We apply our method in the context of nonparametric model-reference adaptive control (MRAC). Across a range of simulated aircraft roll-dynamics and performance metrics our approach outperforms recently proposed alternatives that were based on Gaussian processes and RBF-neural networks. For discrete-time systems, we provide stability guarantees for our learning-based controllers both for the batch and the online learning setting.",
"title": ""
},
{
"docid": "c68c5df29702e797b758474f4e8b137e",
"text": "Abstract—A miniaturized printed log-periodic fractal dipole antenna is proposed. Tree fractal structure is introduced in an antenna design and evolves the traditional Euclidean log-periodic dipole array into the log-periodic second-iteration tree-dipole array (LPT2DA) for the first time. Main parameters and characteristics of the proposed antenna are discussed. A fabricated proof-of-concept prototype of the proposed antenna is etched on a FR4 substrate with a relative permittivity of 4.4 and volume of 490 mm × 245 mm × 1.5 mm. The impedance bandwidth (measured VSWR < 2) of the fabricated antenna with approximate 40% reduction of traditional log-periodic dipole antenna is from 0.37 to 3.55GHz with a ratio of about 9.59 : 1. Both numerical and experimental results show that the proposed antenna has stable directional radiation patterns and apparently miniaturized effect, which are suitable for various ultra-wideband applications.",
"title": ""
}
] | scidocsrr |
ec089bc17fbd305406537f1dbe0ec25d | Usability of Forensics Tools: A User Study | [
{
"docid": "5420818f35031e07207a9bc9168be3c2",
"text": "DFRWS is dedicated to the sharing of knowledge and ideas about digital forensics research. Ever since it organized the first open workshop devoted to digital forensics in 2001, DFRWS continues to bring academics and practitioners together in an informal environment. As a non-profit, volunteer organization, DFRWS sponsors technical working groups, annual conferences and challenges to help drive the direction of research and development.",
"title": ""
},
{
"docid": "faf0e45405b3c31135a20d7bff6e7a5a",
"text": "Law enforcement is in a perpetual race with criminals in the application of digital technologies, and requires the development of tools to systematically search digital devices for pertinent evidence. Another part of this race, and perhaps more crucial, is the development of a methodology in digital forensics that encompasses the forensic analysis of all genres of digital crime scene investigations. This paper explores the development of the digital forensics process, compares and contrasts four particular forensic methodologies, and finally proposes an abstract model of the digital forensic procedure. This model attempts to address some of the shortcomings of previous methodologies, and provides the following advantages: a consistent and standardized framework for digital forensic tool development; a mechanism for applying the framework to future digital technologies; a generalized methodology that judicial members can use to relate technology to non-technical observers; and, the potential for incorporating nondigital electronic technologies within the abstractionmodel of the digital forensic procedure. This model attempts to address some of the shortcomings of previous methodologies, and provides the following advantages: a consistent and standardized framework for digital forensic tool development; a mechanism for applying the framework to future digital technologies; a generalized methodology that judicial members can use to relate technology to non-technical observers; and, the potential for incorporating nondigital electronic technologies within the abstraction Introduction The digital age can be characterized as the application of computer technology as a tool that enhances traditional methodologies. The incorporation of computer systems as a tool into private, commercial, educational, governmental, and other facets of modern life has improved",
"title": ""
}
] | [
{
"docid": "2466530b54a99a53ec9ee1d0aa413858",
"text": "Deep neural networks are typically optimized with stochastic gradient descent (SGD). In this work, we propose a novel second-order stochastic optimization algorithm. The algorithm is based on analytic results showing that a non-zero mean of features is harmful for the optimization. We prove convergence of our algorithm in a convex setting. In our experiments we show that our proposed algorithm converges faster than SGD. Further, in contrast to earlier work, our algorithm allows for training models with a factorized structure from scratch. We found this structure to be very useful not only because it accelerates training and decoding, but also because it is a very effective means against overfitting. Combining our proposed optimization algorithm with this model structure, model size can be reduced by a factor of eight and still improvements in recognition error rate are obtained. Additional gains are obtained by improving the Newbob learning rate strategy.",
"title": ""
},
{
"docid": "ced8cc9329777cc01cdb3e91772a29c2",
"text": "Manually annotating clinical document corpora to generate reference standards for Natural Language Processing (NLP) systems or Machine Learning (ML) is a timeconsuming and labor-intensive endeavor. Although a variety of open source annotation tools currently exist, there is a clear opportunity to develop new tools and assess functionalities that introduce efficiencies into the process of generating reference standards. These features include: management of document corpora and batch assignment, integration of machine-assisted verification functions, semi-automated curation of annotated information, and support of machine-assisted pre-annotation. The goals of reducing annotator workload and improving the quality of reference standards are important considerations for development of new tools. An infrastructure is also needed that will support largescale but secure annotation of sensitive clinical data as well as crowdsourcing which has proven successful for a variety of annotation tasks. We introduce the Extensible Human Oracle Suite of Tools (eHOST) http://code.google.com/p/ehost that provides such functionalities that when coupled with server integration offer an end-to-end solution to carry out small or large scale as well as crowd sourced annotation projects.",
"title": ""
},
{
"docid": "d9f812dc626fcfb360401af693042408",
"text": "OBJECTIVES\nTo examine the possible association of skull deformity and the development of the cranial sutures in fetuses with Apert syndrome.\n\n\nMETHODS\nThree-dimensional (3D) ultrasound was used to examine the metopic and coronal sutures in seven fetuses with Apert syndrome at 22-27 weeks of gestation. The gap between the frontal bones in the transverse plane of the head at the level of the cavum septi pellucidi was measured and compared to findings in 120 anatomically normal fetuses undergoing routine ultrasound examination at 16-32 weeks.\n\n\nRESULTS\nIn the normal group, the gap between the frontal bones in the metopic suture at the level of the cavum septi pellucidi, decreased significantly with gestation from a mean of 2.2 mm (5th and 95th centiles: 1.5 mm and 2.9 mm) at 16 weeks to 0.9 mm (5th and 95th centiles: 0.3 mm and 1.6 mm) at 32 weeks. In the seven cases with Apert syndrome, two-dimensional ultrasound examination demonstrated the characteristic features of frontal bossing, depressed nasal bridge and bilateral syndactyly. On 3D examination there was complete closure of the coronal suture and a wide gap in the metopic suture (15-23 mm).\n\n\nCONCLUSION\nIn normal fetuses, cranial bones are believed to grow in response to the centrifugal pressure from the expanding brain and proximity of the dura to the suture is critical in maintaining its patency. In Apert syndrome, the frontal bossing may be a mere consequence of a genetically predetermined premature closure of the coronal suture. Alternatively, there is a genetically predetermined deformation of the brain, which in turn, through differential stretch of the dura in the temporal and frontal regions, causes premature closure of the coronal suture and impaired closure of the metopic suture.",
"title": ""
},
{
"docid": "a3fafe73615c434375cd3f35323c939e",
"text": "In this paper, Magnetic Resonance Images,T2 weighte d modality , have been pre-processed by bilateral filter to reduce th e noise and maintaining edges among the different tissues. Four different t echniques with morphological operations have been applied to extra c the tumor region. These were: Gray level stretching and Sobel edge de tection, K-Means Clustering technique based on location and intensit y, Fuzzy C-Means Clustering, and An Adapted K-Means clustering techn ique and Fuzzy CMeans technique. The area of the extracted tumor re gions has been calculated. The present work showed that the four i mplemented techniques can successfully detect and extract the brain tumor and thereby help doctors in identifying tumor's size and region.",
"title": ""
},
{
"docid": "182bb07fb7dbbaf17b6c7a084f1c4fb2",
"text": "Network Functions Virtualization (NFV) is an upcoming paradigm where network functionality is virtualized and split up into multiple building blocks that can be chained together to provide the required functionality. This approach increases network flexibility and scalability as these building blocks can be allocated and reallocated at runtime depending on demand. The success of this approach depends on the existence and performance of algorithms that determine where, and how these building blocks are instantiated. In this paper, we present and evaluate a formal model for resource allocation of virtualized network functions within NFV environments, a problem we refer to as Virtual Network Function Placement (VNF-P). We focus on a hybrid scenario where part of the services may be provided by dedicated physical hardware, and where part of the services are provided using virtualized service instances. We evaluate the VNF-P model using a small service provider scenario and two types of service chains, and evaluate its execution speed. We find that the algorithms finish in 16 seconds or less for a small service provider scenario, making it feasible to react quickly to changing demand.",
"title": ""
},
{
"docid": "77d616dc746e74db02215dcf2fdb6141",
"text": "It is almost a quarter of a century since the launch in 1968 of NASA's Pioneer 9 spacecraft on the first mission into deep-space that relied on coding to enhance communications on the critical downlink channel. [The channel code used was a binary convolutional code that was decoded with sequential decoding--we will have much to say about this code in the sequel.] The success of this channel coding system had repercussions that extended far beyond NASA's space program. It is no exaggeration to say that the Pioneer 9 mission provided communications engineers with the first incontrovertible demonstration of the practical utility of channel coding techniques and thereby paved the way for the successful application of coding to many other channels.",
"title": ""
},
{
"docid": "43a84d7fc14e52e93ab2df5db6660a2b",
"text": "The advent of regenerative medicine has brought us the opportunity to regenerate, modify and restore human organs function. Stem cells, a key resource in regenerative medicine, are defined as clonogenic, self-renewing, progenitor cells that can generate into one or more specialized cell types. Stem cells have been classified into three main groups: embryonic stem cells (ESCs), induced pluripotent stem cells (iPSCs) and adult/postnatal stem cells (ASCs). The present review focused the attention on ASCs, which have been identified in many perioral tissues such as dental pulp, periodontal ligament, follicle, gingival, alveolar bone and papilla. Human dental pulp stem cells (hDPSCs) are ectodermal-derived stem cells, originating from migrating neural crest cells and possess mesenchymal stem cell properties. During last decade, hDPSCs have received extensive attention in the field of tissue engineering and regenerative medicine due to their accessibility and ability to differentiate in several cell phenotypes. In this review, we have carefully described the potential of hDPSCs to differentiate into odontoblasts, osteocytes/osteoblasts, adipocytes, chondrocytes and neural cells.",
"title": ""
},
{
"docid": "1a2d9da5b42a7ae5a8dcf5fef48cfe26",
"text": "The space of bio-inspired hardware can be partitioned along three axes: phylogeny, ontogeny, and epigenesis. We refer to this as the POE model. Our Embryonics (for embryonic electronics) project is situated along the ontogenetic axis of the POE model and is inspired by the processes of molecular biology and by the embryonic development of living beings. We will describe the architecture of multicellular automata that are endowed with self-replication and self-repair properties. In the conclusion, we will present our major on-going project: a giant self-repairing electronic watch, the BioWatch, built on a new reconfigurable tissue, the electronic wall or e–wall.",
"title": ""
},
{
"docid": "ce8f565a80deadb7b35adf93d2afbd4c",
"text": "Graph ranking plays an important role in many applications, such as page ranking on web graphs and entity ranking on social networks. In applications, besides graph structure, rich information on nodes and edges and explicit or implicit human supervision are often available. In contrast, conventional algorithms (e.g., PageRank and HITS) compute ranking scores by only resorting to graph structure information. A natural question arises here, that is, how to effectively and efficiently leverage all the information to more accurately calculate graph ranking scores than the conventional algorithms, assuming that the graph is also very large. Previous work only partially tackled the problem, and the proposed solutions are also not satisfying. This paper addresses the problem and proposes a general framework as well as an efficient algorithm for graph ranking. Specifically, we define a semi-supervised learning framework for ranking of nodes on a very large graph and derive within our proposed framework an efficient algorithm called Semi-Supervised PageRank. In the algorithm, the objective function is defined based upon a Markov random walk on the graph. The transition probability and the reset probability of the Markov model are defined as parametric models based on features on nodes and edges. By minimizing the objective function, subject to a number of constraints derived from supervision information, we simultaneously learn the optimal parameters of the model and the optimal ranking scores of the nodes. Finally, we show that it is possible to make the algorithm efficient to handle a billion-node graph by taking advantage of the sparsity of the graph and implement it in the MapReduce logic. Experiments on real data from a commercial search engine show that the proposed algorithm can outperform previous algorithms on several tasks.",
"title": ""
},
{
"docid": "e05d92ac29261f1560e8d9775d39f6b4",
"text": "The Architecture Engineering Construction Facilities Management (AEC/FM) industry is currently plagued with inefficiencies in access and retrieval of relevant information across the various stakeholders and actors, because the vast amount of project related information is not only diverse but the information is also highly fragmented and distributed across different sources and actors. More often than not, even if a good part of the project and task related information may be stored in the distributed information systems, the knowledge of where what is stored, and how that information can be accessed remains a tacit knowledge stored in the minds of the people involved in the project. Consequently, navigating through this distributed and fragmented information in the current practice is heavily reliant on the knowledge and experience of the individual actors in the network, who are able to guide each other to relevant information source, and in the process answering questions such as: who knows what? What information is where? Etc. Thus, to be able to access and effectively use the distributed knowledge and information held by different actors and information systems within a project, each actor needs to know the information access path, which in turn is mediated by other actors and their knowledge of the distribution of the information. In this type of distributed-knowledge network and “actor-focused thinking” when the key actor or actors leave the project, the access path to the relevant knowledge for the associated queries may also disappear, breaking the chain of queries. Therefore, we adopt an “information-focused thinking” where all project actors are considered and represented as computational and information storage entities in a knowledge network, building on the concepts and theories of Transactive Memory Systems (TMS), which primarily deal with effective management and usage of distributed knowledge sources. We further extend the explicit representation of the information entities to visual objects such that the actors can effectively understand, construct and recognize contextual relationships among the information entities through visual management and communication. The merits and challenges of such an approach towards visual transactive memory system for project information management are discussed using a prototype information management platform, VisuaLynk, developed around graph and linked-data concepts, and currently configured for the use phase of a project.",
"title": ""
},
{
"docid": "e49aa0d0f060247348f8b3ea0a28d3c6",
"text": "Over the past five years a new approach to privacy-preserving data analysis has born fruit [13, 18, 7, 19, 5, 37, 35, 8, 32]. This approach differs from much (but not all!) of the related literature in the statistics, databases, theory, and cryptography communities, in that a formal and ad omnia privacy guarantee is defined, and the data analysis techniques presented are rigorously proved to satisfy the guarantee. The key privacy guarantee that has emerged is differential privacy. Roughly speaking, this ensures that (almost, and quantifiably) no risk is incurred by joining a statistical database. In this survey, we recall the definition of differential privacy and two basic techniques for achieving it. We then show some interesting applications of these techniques, presenting algorithms for three specific tasks and three general results on differentially private learning.",
"title": ""
},
{
"docid": "420719690b6249322927153daedba87b",
"text": "• In-domain: 91% F1 on the dev set, 5 we reduced the learning rate from 10−4 to 10−5. We then stopped the training when F1 was not improved after 20 epochs. We did the same for ment-norm except that the learning rate was changed at 91.5% F1. Note that all the hyper-parameters except K and the turning point for early stopping were set to the values used by Ganea and Hofmann (2017). Systematic tuning is expensive though may have further ncreased the result of our models.",
"title": ""
},
{
"docid": "68b38404198f2360c9fa9dccf3d49f8e",
"text": "A space-filling curve is a linear traversal of a discrete finite multidimensional space. In order for this traversal to be useful in many applications, the curve should preserve \"locality\". We quantify \"locality\" and bound the locality of multidimensional space-filling curves. Classic Hilbert space-filling curves come close to achieving optimal locality.",
"title": ""
},
{
"docid": "bdfb3a761d7d9dbb96fa4f07bc2c1f89",
"text": "We present an algorithm for recognition and reconstruction of scanned 3D indoor scenes. 3D indoor reconstruction is particularly challenging due to object interferences, occlusions and overlapping which yield incomplete yet very complex scene arrangements. Since it is hard to assemble scanned segments into complete models, traditional methods for object recognition and reconstruction would be inefficient. We present a search-classify approach which interleaves segmentation and classification in an iterative manner. Using a robust classifier we traverse the scene and gradually propagate classification information. We reinforce classification by a template fitting step which yields a scene reconstruction. We deform-to-fit templates to classified objects to resolve classification ambiguities. The resulting reconstruction is an approximation which captures the general scene arrangement. Our results demonstrate successful classification and reconstruction of cluttered indoor scenes, captured in just few minutes.",
"title": ""
},
{
"docid": "da4180a563d4395f642203abc19281b3",
"text": "PKCS#11 defines an API for cryptographic devices that has been widely adopted in industry. However, it has been shown to be vulnerable to a variety of attacks that could, for example, compromise the sensitive keys stored on the device. In this paper, we set out a formal model of the operation of the API, which differs from previous security API models notably in that it accounts for non-monotonic mutable global state. We give decidability results for our formalism, and describe an implementation of the resulting decision procedure using the model checker NuSMV. We report some new attacks and prove the safety of some configurations of the API in our model. We also analyse proprietary extensions proposed by nCipher (Thales) and Eracom (Safenet), designed to address the shortcomings of PKCS#11.",
"title": ""
},
{
"docid": "dc546e170054e505842a510ca04dc137",
"text": "Machine learning (ML) and pattern matching (PM) are powerful computer science techniques which can derive knowledge from big data, and provide prediction and matching. Since nanometer VLSI design and manufacturing have extremely high complexity and gigantic data, there has been a surge recently in applying and adapting machine learning and pattern matching techniques in VLSI physical design (including physical verification), e.g., lithography hotspot detection and data/pattern-driven physical design, as ML and PM can raise the level of abstraction from detailed physics-based simulations and provide reasonably good quality-of-result. In this paper, we will discuss key techniques and recent results of machine learning and pattern matching, with their applications in physical design.",
"title": ""
},
{
"docid": "5a7ab5ea251e45c3a1ced2ff044c228a",
"text": "In recent years, there has been growing interest in learning to rank. The introduction of feature selection into different learning problems has been proven effective. These facts motivate us to investigate the problem of feature selection for learning to rank. We propose a joint convex optimization formulation which minimizes ranking errors while simultaneously conducting feature selection. This optimization formulation provides a flexible framework in which we can easily incorporate various importance measures and similarity measures of the features. To solve this optimization problem, we use the Nesterov's approach to derive an accelerated gradient algorithm with a fast convergence rate O(1/T2). We further develop a generalization bound for the proposed optimization problem using the Rademacher complexities. Extensive experimental evaluations are conducted on the public LETOR benchmark datasets. The results demonstrate that the proposed method shows: 1) significant ranking performance gain compared to several feature selection baselines for ranking, and 2) very competitive performance compared to several state-of-the-art learning-to-rank algorithms.",
"title": ""
},
{
"docid": "3686b88ab4b0fdfe690bb1b8869dce5c",
"text": "In recent years, several special multiple-parameter discrete fractional transforms (MPDFRTs) have been proposed, and their advantages have been demonstrated in the fields of communication systems and information security. However, the general theoretical framework of MPDFRTs has not yet been established. In this paper, we propose two separate theoretical frameworks called the type I and II MPDFRT that can include existing multiple-parameter transforms as special cases. The properties of the type I and II MPDFRT have been analyzed in detail and their high-dimensional operators have been defined. Under the theoretical frameworks, we can construct new types of transforms that may be useful in signal processing and information security. Finally, we perform two applications about image encryption and image feature extraction in the type I and II MPDFRT domain. The simulation results demonstrate that the typical transforms constructed under the proposed theoretical frameworks yield promising results in these applications.",
"title": ""
},
{
"docid": "ff4088094e114f9a5682bd12ee046645",
"text": "In this paper, we present a multi-sensor system for automatic landing of fixed wing UAVs. The system is composed of a high precision aircraft controller and a vision module which is currently used for detection and tracking of runways. Designing the system we paid special attention to its robustness. The runway detection algorithm uses a maximum amount of information in images and works with high level geometrical models. It allows detecting a runway under different weather conditions even if only a small part is visible in the image. In order to increase landing reliability under sub-optimal wind conditions, an additional loop was introduced into the altitude controller. All control and image processing is performed onboard. The system has been successfully tested in flight experiments with two different fixed wing platforms at various weather conditions, in summer, fall and winter.",
"title": ""
},
{
"docid": "4ef861b705c207c95d93687571caea89",
"text": "Mounting of the acute inflammatory response is crucial for host defense and pivotal to the development of chronic inflammation, fibrosis, or abscess formation versus the protective response and the need of the host tissues to return to homeostasis. Within self-limited acute inflammatory exudates, novel families of lipid mediators are identified, named resolvins (Rv), protectins, and maresins, which actively stimulate cardinal signs of resolution, namely, cessation of leukocytic infiltration, counterregulation of proinflammatory mediators, and the uptake of apoptotic neutrophils and cellular debris. The biosynthesis of these resolution-phase mediators in sensu stricto is initiated during lipid-mediator class switching, in which the classic initiators of acute inflammation, prostaglandins and leukotrienes (LTs), switch to produce specialized proresolving mediators (SPMs). In this work, we review recent evidence on the structure and functional roles of these novel lipid mediators of resolution. Together, these show that leukocyte trafficking and temporal spatial signals govern the resolution of self-limited inflammation and stimulate homeostasis.",
"title": ""
}
] | scidocsrr |
6383d9343f894767bcf1fd0f5d0a0c0d | A Simple Machine Learning Method for Commonsense Reasoning? A Short Commentary on Trinh & Le (2018) | [
{
"docid": "485cda7203863d2ff0b2070ca61b1126",
"text": "Interestingly, understanding natural language that you really wait for now is coming. It's significant to wait for the representative and beneficial books to read. Every book that is provided in better way and utterance will be expected by many peoples. Even you are a good reader or not, feeling to read this book will always appear when you find it. But, when you feel hard to find it as yours, what to do? Borrow to your friends and don't know when to give back it to her or him.",
"title": ""
}
] | [
{
"docid": "9bdd5424d73375a44c3461ffe456a844",
"text": "A new suspended plate antenna is presented for the enhancement of impedance bandwidth. The probe-fed plate antenna is suspended above a ground plane and its center portion is concaved to form a \"V\" shape. The experiment and simulation show that without increase in size the proposed antenna is capable of providing an impedance bandwidth of up to 60% for |S/sub 11/|<-10 dB with an acceptable gain of 8 dBi.",
"title": ""
},
{
"docid": "6033682cf01008f027877e3fda4511f8",
"text": "The HER-2/neu oncogene is a member of the erbB-like oncogene family, and is related to, but distinct from, the epidermal growth factor receptor. This gene has been shown to be amplified in human breast cancer cell lines. In the current study, alterations of the gene in 189 primary human breast cancers were investigated. HER-2/neu was found to be amplified from 2- to greater than 20-fold in 30% of the tumors. Correlation of gene amplification with several disease parameters was evaluated. Amplification of the HER-2/neu gene was a significant predictor of both overall survival and time to relapse in patients with breast cancer. It retained its significance even when adjustments were made for other known prognostic factors. Moreover, HER-2/neu amplification had greater prognostic value than most currently used prognostic factors, including hormonal-receptor status, in lymph node-positive disease. These data indicate that this gene may play a role in the biologic behavior and/or pathogenesis of human breast cancer.",
"title": ""
},
{
"docid": "a33348ee1396be9be333eb3be8dadb39",
"text": "In the multi-MHz low voltage, high current applications, Synchronous Rectification (SR) is strongly needed due to the forward recovery and the high conduction loss of the rectifier diodes. This paper applies the SR technique to a 10-MHz isolated class-Φ2 resonant converter and proposes a self-driven level-shifted Resonant Gate Driver (RGD) for the SR FET. The proposed RGD can reduce the average on-state resistance and the associated conduction loss of the MOSFET. It also provides precise switching timing for the SR so that the body diode conduction time of the SR FET can be minimized. A 10-MHz prototype with 18 V input, 5 V/2 A output was built to verify the advantage of the SR with the proposed RGD. At full load of 2 A, the SR with the proposed RGD improves the converter efficiency from 80.2% using the SR with the conventional RGD to 82% (an improvement of 1.8%). Compared to the efficiency of 77.3% using the diode rectification, the efficiency improvement is 4.7%.",
"title": ""
},
{
"docid": "d277a7e6a819af474b31c7a35b9c840f",
"text": "Blending face geometry in different expressions is a popular approach for facial animation in films and games. The quality of the animation relies on the set of blend shape expressions, and creating sufficient blend shapes takes a large amount of time and effort. This paper presents a complete pipeline to create a set of blend shapes in different expressions for a face mesh having only a neutral expression. A template blend shapes model having sufficient expressions is provided and the neutral expression of the template mesh model is registered into the target face mesh using a non-rigid ICP (iterative closest point) algorithm. Deformation gradients between the template and target neutral mesh are then transferred to each expression to form a new set of blend shapes for the target face. We solve optimization problem to consistently map the deformation of the source blend shapes to the target face model. The result is a new set of blend shapes for a target mesh having triangle-wise correspondences between the source face and target faces. After creating blend shapes, the blend shape animation of the source face is retargeted to the target mesh automatically.",
"title": ""
},
{
"docid": "38863f217a610af5378c42e03cd3fe3c",
"text": "In human movement learning, it is most common to teach constituent elements of complex movements in isolation, before chaining them into complex movements. Segmentation and recognition of observed movement could thus proceed out of this existing knowledge, which is directly compatible with movement generation. In this paper, we address exactly this scenario. We assume that a library of movement primitives has already been taught, and we wish to identify elements of the library in a complex motor act, where the individual elements have been smoothed together, and, occasionally, there might be a movement segment that is not in our library yet. We employ a flexible machine learning representation of movement primitives based on learnable nonlinear attractor system. For the purpose of movement segmentation and recognition, it is possible to reformulate this representation as a controlled linear dynamical system. An Expectation-Maximization algorithm can be developed to estimate the open parameters of a movement primitive from the library, using as input an observed trajectory piece. If no matching primitive from the library can be found, a new primitive is created. This process allows a straightforward sequential segmentation of observed movement into known and new primitives, which are suitable for robot imitation learning. We illustrate our approach with synthetic examples and data collected from human movement. Appearing in Proceedings of the 15 International Conference on Artificial Intelligence and Statistics (AISTATS) 2012, La Palma, Canary Islands. Volume XX of JMLR: W&CP XX. Copyright 2012 by the authors.",
"title": ""
},
{
"docid": "2c704a11e212b90520e92adf85696674",
"text": "The authors in this study examined the function and public reception of critical tweeting in online campaigns of four nationalist populist politicians during major national election campaigns. Using a mix of qualitative coding and case study inductive methods, we analyzed the tweets of Narendra Modi, Nigel Farage, Donald Trump, and Geert Wilders before the 2014 Indian general elections, the 2016 UK Brexit referendum, the 2016 US presidential election, and the 2017 Dutch general election, respectively. Our data show that Trump is a consistent outlier in terms of using critical language on Twitter when compared to Wilders, Farage, and Modi, but that all four leaders show significant investment in various forms of antagonistic messaging including personal insults, sarcasm, and labeling, and that these are rewarded online by higher retweet rates. Building on the work of Murray Edelman and his notion of a political spectacle, we examined Twitter as a performative space for critical rhetoric within the frame of nationalist politics. We found that cultural and political differences among the four settings also impact how each politician employs these tactics. Our work proposes that studies of social media spaces need to bring normative questions into traditional notions of collaboration. As we show here, political actors may benefit from in-group coalescence around antagonistic messaging, which while serving as a call to arms for online collaboration for those ideologically aligned, may on a societal level lead to greater polarization.",
"title": ""
},
{
"docid": "821b88f996e98216b83fcc9d6e6a4450",
"text": "Rotation invariant multiview face detection (MVFD) aims to detect faces with arbitrary rotation-in-plane (RIP) and rotation-off-plane (ROP) angles in still images or video sequences. MVFD is crucial as the first step in automatic face processing for general applications since face images are seldom upright and frontal unless they are taken cooperatively. In this paper, we propose a series of innovative methods to construct a high-performance rotation invariant multiview face detector, including the width-first-search (WFS) tree detector structure, the vector boosting algorithm for learning vector-output strong classifiers, the domain-partition-based weak learning method, the sparse feature in granular space, and the heuristic search for sparse feature selection. As a result of that, our multiview face detector achieves low computational complexity, broad detection scope, and high detection accuracy on both standard testing sets and real-life images",
"title": ""
},
{
"docid": "755535335da1eb05e4b4a163a8f3d2ac",
"text": "Calcium pyrophosphate (CPP) crystal deposition (CPPD) is associated with ageing and osteoarthritis, and with uncommon disorders such as hyperparathyroidism, hypomagnesemia, hemochromatosis and hypophosphatasia. Elevated levels of synovial fluid pyrophosphate promote CPP crystal formation. This extracellular pyrophosphate originates either from the breakdown of nucleotide triphosphates by plasma-cell membrane glycoprotein 1 (PC-1) or from pyrophosphate transport by the transmembrane protein progressive ankylosis protein homolog (ANK). Although the etiology of apparent sporadic CPPD is not well-established, mutations in the ANK human gene (ANKH) have been shown to cause familial CPPD. In this Review, the key regulators of pyrophosphate metabolism and factors that lead to high extracellular pyrophosphate levels are described. Particular emphasis is placed on the mechanisms by which mutations in ANKH cause CPPD and the clinical phenotype of these mutations is discussed. Cartilage factors predisposing to CPPD and CPP-crystal-induced inflammation and current treatment options for the management of CPPD are also described.",
"title": ""
},
{
"docid": "ed4454269322ed7a083e05bb222b28d9",
"text": "To address devastating environmental crises and to improve human well-being, China has been implementing a number of national policies on payments for ecosystem services. Two of them, the Natural Forest Conservation Program (NFCP) and the Grain to Green Program (GTGP), are among the biggest programs in the world because of their ambitious goals, massive scales, huge payments, and potentially enormous impacts. The NFCP conserves natural forests through logging bans and afforestation with incentives to forest enterprises, whereas the GTGP converts cropland on steep slopes to forest and grassland by providing farmers with grain and cash subsidies. Overall ecological effects are beneficial, and socioeconomic effects are mostly positive. Whereas there are time lags in ecological effects, socioeconomic effects are more immediate. Both the NFCP and the GTGP also have global implications because they increase vegetative cover, enhance carbon sequestration, and reduce dust to other countries by controlling soil erosion. The future impacts of these programs may be even bigger. Extended payments for the GTGP have recently been approved by the central government for up to 8 years. The NFCP is likely to follow suit and receive renewed payments. To make these programs more effective, we recommend systematic planning, diversified funding, effective compensation, integrated research, and comprehensive monitoring. Effective implementation of these programs can also provide important experiences and lessons for other ecosystem service payment programs in China and many other parts of the world.",
"title": ""
},
{
"docid": "216698730aa68b3044f03c64b77e0e62",
"text": "Portable biomedical instrumentation has become an important part of diagnostic and treatment instrumentation. Low-voltage and low-power tendencies prevail. A two-electrode biopotential amplifier, designed for low-supply voltage (2.7–5.5 V), is presented. This biomedical amplifier design has high differential and sufficiently low common mode input impedances achieved by means of positive feedback, implemented with an original interface stage. The presented circuit makes use of passive components of popular values and tolerances. The amplifier is intended for use in various two-electrode applications, such as Holter monitors, external defibrillators, ECG monitors and other heart beat sensing biomedical devices.",
"title": ""
},
{
"docid": "cb0803dfd3763199519ff3f4427e1298",
"text": "Motion deblurring is a long standing problem in computer vision and image processing. In most previous approaches, the blurred image is modeled as the convolution of a latent intensity image with a blur kernel. However, for images captured by a real camera, the blur convolution should be applied to scene irradiance instead of image intensity and the blurred results need to be mapped back to image intensity via the camera’s response function (CRF). In this paper, we present a comprehensive study to analyze the effects of CRFs on motion deblurring. We prove that the intensity-based model closely approximates the irradiance model at low frequency regions. However, at high frequency regions such as edges, the intensity-based approximation introduces large errors and directly applying deconvolution on the intensity image will produce strong ringing artifacts even if the blur kernel is invertible. Based on the approximation error analysis, we further develop a dualimage based solution that captures a pair of sharp/blurred images for both CRF estimation and motion deblurring. Experiments on synthetic and real images validate our theories and demonstrate the robustness and accuracy of our approach.",
"title": ""
},
{
"docid": "e7c8abf3387ba74ca0a6a2da81a26bc4",
"text": "An experiment was conducted to test the relationships between users' perceptions of a computerized system's beauty and usability. The experiment used a computerized application as a surrogate for an Automated Teller Machine (ATM). Perceptions were elicited before and after the participants used the system. Pre-experimental measures indicate strong correlations between system's perceived aesthetics and perceived usability. Post-experimental measures indicated that the strong correlation remained intact. A multivariate analysis of covariance revealed that the degree of system's aesthetics affected the post-use perceptions of both aesthetics and usability, whereas the degree of actual usability had no such effect. The results resemble those found by social psychologists regarding the effect of physical attractiveness on the valuation of other personality attributes. The ®ndings stress the importance of studying the aesthetic aspect of human±computer interaction (HCI) design and its relationships to other design dimensions. q 2000 Elsevier Science B.V. All rights reserved.",
"title": ""
},
{
"docid": "b966af7f15e104865944ac44fad23afc",
"text": "Five cases are described where minute foci of adenocarcinoma have been demonstrated in the mesorectum several centimetres distal to the apparent lower edge of a rectal cancer. In 2 of these there was no other evidence of lymphatic spread of the tumour. In orthodox anterior resection much of this tissue remains in the pelvis, and its is suggested that these foci might lead to suture-line or pelvic recurrence. Total excision of the mesorectum has, therefore, been carried out as a part of over 100 consecutive anterior resections. Fifty of these, which were classified as 'curative' or 'conceivably curative' operations, have now been followed for over 2 years with no pelvic or staple-line recurrence.",
"title": ""
},
{
"docid": "4daa16553442aa424a1578f02f044c6e",
"text": "Cluster structure of gene expression data obtained from DNA microarrays is analyzed and visualized with the Self-Organizing Map (SOM) algorithm. The SOM forms a non-linear mapping of the data to a two-dimensional map grid that can be used as an exploratory data analysis tool for generating hypotheses on the relationships, and ultimately of the function of the genes. Similarity relationships within the data and cluster structures can be visualized and interpreted. The methods are demonstrated by computing a SOM of yeast genes. The relationships of known functional classes of genes are investigated by analyzing their distribution on the SOM, the cluster structure is visualized by the U-matrix method, and the clusters are characterized in terms of the properties of the expression profiles of the genes. Finally, it is shown that the SOM visualizes the similarity of genes in a more trustworthy way than two alternative methods, multidimensional scaling and hierarchical clustering.",
"title": ""
},
{
"docid": "d01a22301de1274220a16351d14d4d83",
"text": "In this paper, we propose a solution to the problems and the features encountered in the geometric modeling of the 6 DOF manipulator arm, the Fanuc. Among these, the singularity of the Jacobian matrix obtained by the kinematic model and which has a great influence on the boundaries and accessibility of the workspace of manipulator robot and it reduce the number of solutions found. We can decompose it into several sub-matrices of smaller dimensions, for ultimately a non-linear equation with two unknowns. We validate our work by conducting a simulation software platform that allows us to verify the results of manipulation in a virtual reality environment based on VRML and Matlab software, integration with the CAD model.",
"title": ""
},
{
"docid": "c993d3a77bcd272e8eadc66155ee15e1",
"text": "This paper presents animated pose templates (APTs) for detecting short-term, long-term, and contextual actions from cluttered scenes in videos. Each pose template consists of two components: 1) a shape template with deformable parts represented in an And-node whose appearances are represented by the Histogram of Oriented Gradient (HOG) features, and 2) a motion template specifying the motion of the parts by the Histogram of Optical-Flows (HOF) features. A shape template may have more than one motion template represented by an Or-node. Therefore, each action is defined as a mixture (Or-node) of pose templates in an And-Or tree structure. While this pose template is suitable for detecting short-term action snippets in two to five frames, we extend it in two ways: 1) For long-term actions, we animate the pose templates by adding temporal constraints in a Hidden Markov Model (HMM), and 2) for contextual actions, we treat contextual objects as additional parts of the pose templates and add constraints that encode spatial correlations between parts. To train the model, we manually annotate part locations on several keyframes of each video and cluster them into pose templates using EM. This leaves the unknown parameters for our learning algorithm in two groups: 1) latent variables for the unannotated frames including pose-IDs and part locations, 2) model parameters shared by all training samples such as weights for HOG and HOF features, canonical part locations of each pose, coefficients penalizing pose-transition and part-deformation. To learn these parameters, we introduce a semi-supervised structural SVM algorithm that iterates between two steps: 1) learning (updating) model parameters using labeled data by solving a structural SVM optimization, and 2) imputing missing variables (i.e., detecting actions on unlabeled frames) with parameters learned from the previous step and progressively accepting high-score frames as newly labeled examples. This algorithm belongs to a family of optimization methods known as the Concave-Convex Procedure (CCCP) that converge to a local optimal solution. The inference algorithm consists of two components: 1) Detecting top candidates for the pose templates, and 2) computing the sequence of pose templates. Both are done by dynamic programming or, more precisely, beam search. In experiments, we demonstrate that this method is capable of discovering salient poses of actions as well as interactions with contextual objects. We test our method on several public action data sets and a challenging outdoor contextual action data set collected by ourselves. The results show that our model achieves comparable or better performance compared to state-of-the-art methods.",
"title": ""
},
{
"docid": "45b5b7256dc791d8276bf328b833b09c",
"text": "Today, embedded, mobile, and cyberphysical systems are ubiquitous and used in many applications, from industrial control systems, modern vehicles, to critical infrastructure. Current trends and initiatives, such as \"Industrie 4.0\" and Internet of Things (IoT), promise innovative business models and novel user experiences through strong connectivity and effective use of next generation of embedded devices. These systems generate, process, and exchange vast amounts of security-critical and privacy-sensitive data, which makes them attractive targets of attacks. Cyberattacks on IoT systems are very critical since they may cause physical damage and even threaten human lives. The complexity of these systems and the potential impact of cyberattacks bring upon new threats.\n This paper gives an introduction to Industrial IoT systems, the related security and privacy challenges, and an outlook on possible solutions towards a holistic security framework for Industrial IoT systems.",
"title": ""
},
{
"docid": "804b320c6f5b07f7f4d7c5be29c572e9",
"text": "Softmax is the most commonly used output function for multiclass problems and is widely used in areas such as vision, natural language processing, and recommendation. A softmax model has linear costs in the number of classes which makes it too expensive for many real-world problems. A common approach to speed up training involves sampling only some of the classes at each training step. It is known that this method is biased and that the bias increases the more the sampling distribution deviates from the output distribution. Nevertheless, almost all recent work uses simple sampling distributions that require a large sample size to mitigate the bias. In this work, we propose a new class of kernel based sampling methods and develop an efficient sampling algorithm. Kernel based sampling adapts to the model as it is trained, thus resulting in low bias. It can also be easily applied to many models because it relies only on the model’s last hidden layer. We empirically study the trade-off of bias, sampling distribution and sample size and show that kernel based sampling results in low bias with few samples.",
"title": ""
},
{
"docid": "c432a44e48e777a7a3316c1474f0aa12",
"text": "In this paper, we present an algorithm that generates high dynamic range (HDR) images from multi-exposed low dynamic range (LDR) stereo images. The vast majority of cameras in the market only capture a limited dynamic range of a scene. Our algorithm first computes the disparity map between the stereo images. The disparity map is used to compute the camera response function which in turn results in the scene radiance maps. A refinement step for the disparity map is then applied to eliminate edge artifacts in the final HDR image. Existing methods generate HDR images of good quality for still or slow motion scenes, but give defects when the motion is fast. Our algorithm can deal with images taken during fast motion scenes and tolerate saturation and radiometric changes better than other stereo matching algorithms.",
"title": ""
},
{
"docid": "6d1c4530ba67b931729d9773debabb65",
"text": "This paper explores the idea that the universe is a virtual reality created by information processing, and relates this strange idea to the findings of modern physics about the physical world. The virtual reality concept is familiar to us from online worlds, but the world as a virtual reality is usually a subject for science fiction rather than science. Yet logically the world could be an information simulation running on a three-dimensional space-time screen. Indeed, that the essence of the universe is information has advantages, e.g. if matter, charge, energy and movement are aspects of information, the many conservation laws could become a single law of information conservation. If the universe were a virtual reality, its creation at the big bang would no longer be paradoxical, as every virtual system must be booted up. It is suggested that whether the world is an objective or a virtual reality is a matter for science to resolve. Modern computer science can help suggest a model that derives core physical properties like space, time, light, matter and movement from information processing. Such an approach could reconcile relativity and quantum theories, with the former being how information processing creates space-time, and the latter how it creates energy and matter.",
"title": ""
}
] | scidocsrr |
65ca4aa3209015c7077e3fbdfa1e7479 | The UbiCARS Model-Driven Framework: Automating Development of Recommender Systems for Commerce | [
{
"docid": "b213afb537bbc4c476c760bb8e8f2997",
"text": "Recommender system has been demonstrated as one of the most useful tools to assist users' decision makings. Several recommendation algorithms have been developed and implemented by both commercial and open-source recommendation libraries. Context-aware recommender system (CARS) emerged as a novel research direction during the past decade and many contextual recommendation algorithms have been proposed. Unfortunately, no recommendation engines start to embed those algorithms in their kits, due to the special characteristics of the data format and processing methods in the domain of CARS. This paper introduces an open-source Java-based context-aware recommendation engine named as CARSKit which is recognized as the 1st open source recommendation library specifically designed for CARS. It implements the state-of-the-art context-aware recommendation algorithms, and we will showcase the ease with which CARSKit allows recommenders to be configured and evaluated in this demo.",
"title": ""
},
{
"docid": "e870f2fe9a26b241bdeca882b6186169",
"text": "Some people may be laughing when looking at you reading in your spare time. Some may be admired of you. And some may want be like you who have reading hobby. What about your own feel? Have you felt right? Reading is a need and a hobby at once. This condition is the on that will make you feel that you must read. If you know are looking for the book enPDFd recommender systems handbook as the choice of reading, you can find here.",
"title": ""
}
] | [
{
"docid": "a6347b2f03ba45d233a872cb6f6891a8",
"text": "The data in many disciplines such as social networks, web analysis, etc. is link-based, and the link structure can be exploited for many different data mining tasks. In this paper, we consider the problem of temporal link prediction: Given link data for time periods 1 through T, can we predict the links in time period T +1? Specifically, we look at bipartite graphs changing over time and consider matrix- and tensor-based methods for predicting links. We present a weight-based method for collapsing multi-year data into a single matrix. We show how the well-known Katz method for link prediction can be extended to bipartite graphs and, moreover, approximated in a scalable way using a truncated singular value decomposition. Using a CANDECOMP/PARAFAC tensor decomposition of the data, we illustrate the usefulness of exploiting the natural three-dimensional structure of temporal link data. Through several numerical experiments, we demonstrate that both matrix and tensor-based techniques are effective for temporal link prediction despite the inherent difficulty of the problem.",
"title": ""
},
{
"docid": "7def66c81180a73282cd7e463dc4938c",
"text": "Drug abuse in Nigeria has been indicated to be on the rise in recent years. The use of hard drugs and misuse of prescription drugs for nonmedical purposes cuts across all strata, especially the youths. Tramadol (2[(Dimethylamin) methyl]-1-(3-methoxyphenyl)cyclohexanol) is known for its analgesic potentials. This potent opioid pain killer is misused by Nigerian youths, owing to its suspicion as sexual performance drug. This study therefore is aimed at determining the effect of tramadol on hormone levels its improved libido properties and possibly fertility. Twenty seven (27) European rabbits weighing 1.0 to 2.0 kg were used. Animals were divided into four major groups consisting of male and female control, and male and female tramadol treated groups. Treated groups were further divided into oral and intramuscular (IM) administered groups. Oral groups were administered 25 mg/kg b.w. of tramadol per day while the IM groups received 15 mg/kg b.w. per Original Research Article Osadolor and Omo-Erhabor; BJMMR, 14(8): 1-11, 2016; Article no.BJMMR.24620 2 day over a period of thirty days. Blood samples were collected at the end of the experiment for progesterone, testosterone, estrogen (E2), luteinizing hormone, follicle stimulating hormone (FSH), β-human chorionic gonadotropin and prolactin estimation. Tramadol treated groups were compared with control groups at the end of the study, as well as within group comparison was done. From the results, FSH was found to be significantly reduced (p<0.05) while LH increased significantly (p<0.05). A decrease was observed for testosterone (p<0.001), and estrogen, FSH, progesterone also decreased (p<0.05). Significant changes weren’t observed when IM groups were compared with oral groups. This study does not support an improvement of libido by tramadol, though its possible usefulness in the treatment of premature ejaculation may have been established, but its capabilities to induce male and female infertility is still in doubt.",
"title": ""
},
{
"docid": "85feabca6a73d83be10a75c98d8cb046",
"text": "We propose a new recommendation algorithm for online documents, images and videos, which is personalized. Our idea is to rely on the attention time of individual users captured through commodity eye-tracking as the essential clue. The prediction of user interest over a certain online item (a document, image or video) is based on the user's attention time acquired using vision-based commodity eye-tracking during his previous reading, browsing or video watching sessions over the same type of online materials. After acquiring a user's attention times over a collection of online materials, our algorithm can predict the user's probable attention time over a new online item through data mining. Based on our proposed algorithm, we have developed a new online content recommender system for documents, images and videos. The recommendation results produced by our algorithm are evaluated by comparing with those manually labeled by users as well as by commercial search engines including Google (Web) Search, Google Image Search and YouTube.",
"title": ""
},
{
"docid": "51dce19889df3ae51b6c12e3f2a47672",
"text": "Existing recommender systems model user interests and the social influences independently. In reality, user interests may change over time, and as the interests change, new friends may be added while old friends grow apart and the new friendships formed may cause further interests change. This complex interaction requires the joint modeling of user interest and social relationships over time. In this paper, we propose a probabilistic generative model, called Receptiveness over Time Model (RTM), to capture this interaction. We design a Gibbs sampling algorithm to learn the receptiveness and interest distributions among users over time. The results of experiments on a real world dataset demonstrate that RTM-based recommendation outperforms the state-of-the-art recommendation methods. Case studies also show that RTM is able to discover the user interest shift and receptiveness change over time",
"title": ""
},
{
"docid": "b9965956c3b1807b1b6e09fa2b329c71",
"text": "A serial link transmitter fabricated in a large-scale integrated 0.4m CMOS process uses multilevel signaling (4PAM) and a three-tap pre-emphasis filter to reduce intersymbol interference (ISI) caused by channel low-pass effects. Due to the process-limited on-chip frequency, the transmitter output driver is designed as a 5 : 1 multiplexer to reduce the required clock frequency to one-fifth the symbol rate, or 1 GHz. At 5 Gsym/s (10 Gb/s), a data eye opening with a height >350 mV and a width >100 ps is achieved at the source. After 10 m of a copper coaxial cable (PE142LL), the eye opening is reduced to 200 mV and 90 ps with pre-emphasis, and to zero without filtering. The chip dissipates 1 W with a 3.3-V supply and occupies 1.5 2.0 mm2 of die area.",
"title": ""
},
{
"docid": "52462bd444f44910c18b419475a6c235",
"text": "Snoring is a common symptom of serious chronic disease known as obstructive sleep apnea (OSA). Knowledge about the location of obstruction site (VVelum, OOropharyngeal lateral walls, T-Tongue, E-Epiglottis) in the upper airways is necessary for proper surgical treatment. In this paper we propose a dual source-filter model similar to the source-filter model of speech to approximate the generation process of snore audio. The first filter models the vocal tract from lungs to the point of obstruction with white noise excitation from the lungs. The second filter models the vocal tract from the obstruction point to the lips/nose with impulse train excitation which represents vibrations at the point of obstruction. The filter coefficients are estimated using the closed and open phases of the snore beat cycle. VOTE classification is done by using SVM classifier and filter coefficients as features. The classification experiments are performed on the development set (283 snore audios) of the MUNICH-PASSAU SNORE SOUND CORPUS (MPSSC). We obtain an unweighted average recall (UAR) of 49.58%, which is higher than the INTERSPEECH-2017 snoring sub-challenge baseline technique by ∼3% (absolute).",
"title": ""
},
{
"docid": "a5d96c0cda59ad304d2f9b052611220f",
"text": "Behavior-based systems (BBS) have been effective in a variety of applications, but due to their limited use of representation they have not been applied much to more complex problems, such as ones involving temporal sequences, or hierarchical task representations. This paper presents an approach to implementing these AI-level concepts into BBS, without compromising BBS' key properties. We describe a Hierarchical Abstract Behavior Architecture that allows for the representation and execution of complex, sequential, hierarchically structured tasks within a behavior-based framework. The architecture, obtained by introducing the notion of abstract behaviors into BBS, also enables reusability of behaviors across different tasks. The basis for task representation is the behavior network construct which encodes complex, hierarchical plan-like strategies. The approach is validated in experiments on a Pioneer 2DX mobile robot.",
"title": ""
},
{
"docid": "3877a5f89e36bca45660193c04ad170b",
"text": "Adversarial samples are perturbed inputs crafted to mislead the machine learning systems. A training mechanism, called adversarial training, which presents adversarial samples along with clean samples has been introduced to learn robust models. In order to scale adversarial training for large datasets, these perturbations can only be crafted using fast and simple methods (e.g., gradient ascent). However, it is shown that adversarial training converges to a degenerate minimum, where the model appears to be robust by generating weaker adversaries. As a result, the models are vulnerable to simple black-box attacks. In this paper we, (i) demonstrate the shortcomings of existing evaluation policy, (ii) introduce novel variants of white-box and black-box attacks, dubbed “gray-box adversarial attacks” based on which we propose novel evaluation method to assess the robustness of the learned models, and (iii) propose a novel variant of adversarial training, named “Graybox Adversarial Training” that uses intermediate versions of the models to seed the adversaries. Experimental evaluation demonstrates that the models trained using our method exhibit better robustness compared to both undefended and adversarially trained models.",
"title": ""
},
{
"docid": "0249db106163559e34ff157ad6d45bf5",
"text": "We present an interpolation-based planning and replanning algorithm for generating low-cost paths through uniform and nonuniform resolution grids. Most grid-based path planners use discrete state transitions that artificially constrain an agent’s motion to a small set of possible headings e.g., 0, /4, /2, etc. . As a result, even “optimal” gridbased planners produce unnatural, suboptimal paths. Our approach uses linear interpolation during planning to calculate accurate path cost estimates for arbitrary positions within each grid cell and produce paths with a range of continuous headings. Consequently, it is particularly well suited to planning low-cost trajectories for mobile robots. In this paper, we introduce a version of the algorithm for uniform resolution grids and a version for nonuniform resolution grids. Together, these approaches address two of the most significant shortcomings of grid-based path planning: the quality of the paths produced and the memory and computational requirements of planning over grids. We demonstrate our approaches on a number of example planning problems, compare them to related algorithms, and present several implementations on real robotic systems. © 2006 Wiley Periodicals, Inc.",
"title": ""
},
{
"docid": "0a4392285df7ddb92458ffa390f36867",
"text": "A good model of object shape is essential in applications such as segmentation, detection, inpainting and graphics. For example, when performing segmentation, local constraints on the shapes can help where object boundaries are noisy or unclear, and global constraints can resolve ambiguities where background clutter looks similar to parts of the objects. In general, the stronger the model of shape, the more performance is improved. In this paper, we use a type of deep Boltzmann machine (Salakhutdinov and Hinton, International Conference on Artificial Intelligence and Statistics, 2009) that we call a Shape Boltzmann Machine (SBM) for the task of modeling foreground/background (binary) and parts-based (categorical) shape images. We show that the SBM characterizes a strong model of shape, in that samples from the model look realistic and it can generalize to generate samples that differ from training examples. We find that the SBM learns distributions that are qualitatively and quantitatively better than existing models for this task.",
"title": ""
},
{
"docid": "6206968905f6e211b07e896f49ecdc57",
"text": "We present here a new algorithm for segmentation of intensity images which is robust, rapid, and free of tuning parameters. The method, however, requires the input of a number of seeds, either individual pixels or regions, which will control the formation of regions into which the image will be segmented. In this correspondence, we present the algorithm, discuss briefly its properties, and suggest two ways in which it can be employed, namely, by using manual seed selection or by automated procedures.",
"title": ""
},
{
"docid": "5f5116c8e7324d55b180a65ba45fa1da",
"text": "Some aspects of W3C's RDF Model and Syntax Specification require careful reading and interpretation to produce a conformant implementation. Issues have arisen around anonymous resources, reification and RDF Graphs. These and other issues are identified, discussed and an interpretation of each is proposed. Jena, an RDF API in Java based on this interpretation, is described.",
"title": ""
},
{
"docid": "00b91e8539356af888c29e0813a0a4f5",
"text": "With white-light LEDs one can combine lighting and wireless communication functionalities in one source. We investigate feasible transmission rates in a moderate-size office room illuminated with commercially available phosphor-based LEDs. Due to prevalent high signal-to-noise ratios and negligible inter-symbol-interference maximum data rates of 300 Mbit/s are shown to be achievable with the use of pulse amplitude modulation (PAM) or discrete multi-tone modulation (DMT). Also, we present first experiments with white-light LEDs and demonstrate wireless net data rates of up to 101 Mbit/s.",
"title": ""
},
{
"docid": "e8c05d0540f384d0e85b4610c4bad4ef",
"text": "We present DIALDroid, a scalable and accurate tool for analyzing inter-app Inter-Component Communication (ICC) among Android apps, which outperforms current stateof-the-art ICC analysis tools. Using DIALDroid, we performed the first large-scale detection of collusive and vulnerable apps based on inter-app ICC data flows among 110,150 real-world apps and identified key security insights.",
"title": ""
},
{
"docid": "a6b74c0f23d5028e89a68be75102ad3d",
"text": "Schools have the potential to make valuable contributions to both the prevention and treatment of childhood obesity. This article reviews the research on school-based interventions to prevent and treat obesity. A literature search from 1965 to the present on school-based treatment of obesity, identified 11 controlled experimental studies. The results show positive, though modest short-term results. Relatively few primary prevention research studies, targeted specifically to preventing obesity, have been conducted. Therefore, efficacy has not been established. Both primary and secondary obesity interventions have a role in schools. A comprehensive, integrated model for school-based obesity prevention is presented. This model, building upon the comprehensive school health program model, consists of eight interacting components: health instruction; health services; school environment; food service; school-site health promotion for faculty and staff; social support services; physical education classes; and integrated and linked family and community health promotion efforts. While multi-faceted community-wide efforts are needed to address the growing problem of obesity, schools are in a unique position to play a pivotal role in promoting healthy lifestyles and helping to prevent obesity.",
"title": ""
},
{
"docid": "cf6784bb69c17a0874dc4fafbd75a370",
"text": "Communications among crewmembers in rescue teams and among victims are crucial to relieve the consequences and damages of a disaster situation. A common communication system for establishing real time communications between the elements (victims, crewmembers, people living in the vicinity of the disaster scenario, among others) involved in a disaster scenario is required. Ad hoc networks have been envisioned for years as a possible soluCommunicated by A. Castiglione. D. G. Reina · J. M. León-Coca · S. L. Toral · F. Barrero Electronic Engineering Department, University of Seville, Seville, Spain e-mail: dgutierrezreina@us.es J. M. León-Coca e-mail: jmleoncoca@us.es S. L. Toral e-mail: storal@us.es F. Barrero e-mail: fbarrero@esi.us.es E. Asimakopoulou · N. Bessis (B) School of Computing and Maths, University of Derby, Derby, UK e-mail: n.bessis@derby.ac.uk E. Asimakopoulou e-mail: eleana.asimakopoulou@gmail.com P. Norrington Institute for Research in Applicable Computing, University of Bedfordshire, Luton, UK e-mail: peter.norrington@beds.ac.uk N. Bessis Department of Computer Science and Technology, University of Bedfordshire, Bedfordshire, UK e-mail: nik.bessis@beds.ac.uk tion. They allow users to establish decentralized communications quickly and using common devices like mobile phones. Broadcasting is the main mechanism used to disseminate information in all-to-all fashion in ad hoc networks. The objective of this paper is to optimize a broadcasting scheme based on similarity/dissimilarity coefficient designed for disaster response scenarios through a multi-objective optimization problem in which several performance metrics such as reachability, number of retransmissions and delay are optimized simultaneously.",
"title": ""
},
{
"docid": "1e7db897ead58568def5066f86922081",
"text": "This paper addresses the dynamic difficulty adjustment on MOBA games as a way to improve the players entertainment. Although MOBA is currently one of the most played genres around the world, it is known as a game that offer less autonomy, more challenges and consequently more frustration. Due to these characteristics, the use of a mechanism that performs the difficulty balance dynamically seems to be an interesting alternative to minimize and/or avoid that players experience such frustrations. In this sense, this paper presents a dynamic difficulty adjustment mechanism for MOBA games. The main idea is to create a computer controlled opponent that adapts dynamically to the player performance, trying to offer to the player a better game experience. This is done by evaluating the performance of the player using a metric based on some game features and switching the difficulty of the opponent’s artificial intelligence behavior accordingly. Quantitative and qualitative experiments were performed and the results showed that the system is capable of adapting dynamically to the opponent’s skills. In spite of that, the qualitative experiments with users showed that the player’s expertise has a greater influence on the perception of the difficulty level and dynamic adaptation.",
"title": ""
},
{
"docid": "ee0d858955c3c45ac3d990d3ad9d56ed",
"text": "Survival analysis is a subfield of statistics where the goal is to analyze and model data where the outcome is the time until an event of interest occurs. One of the main challenges in this context is the presence of instances whose event outcomes become unobservable after a certain time point or when some instances do not experience any event during the monitoring period. This so-called censoring can be handled most effectively using survival analysis techniques. Traditionally, statistical approaches have been widely developed in the literature to overcome the issue of censoring. In addition, many machine learning algorithms have been adapted to deal with such censored data and tackle other challenging problems that arise in real-world data. In this survey, we provide a comprehensive and structured review of the statistical methods typically used and the machine learning techniques developed for survival analysis, along with a detailed taxonomy of the existing methods. We also discuss several topics that are closely related to survival analysis and describe several successful applications in a variety of real-world application domains. We hope that this article will give readers a more comprehensive understanding of recent advances in survival analysis and offer some guidelines for applying these approaches to solve new problems arising in applications involving censored data.",
"title": ""
},
{
"docid": "753a3b5946bf4998bf5194af9994f197",
"text": "MOTIVATION\nVisualizing and analysing the potential non-linear structure of a dataset is becoming an important task in molecular biology. This is even more challenging when the data have missing values.\n\n\nRESULTS\nHere, we propose an inverse model that performs non-linear principal component analysis (NLPCA) from incomplete datasets. Missing values are ignored while optimizing the model, but can be estimated afterwards. Results are shown for both artificial and experimental datasets. In contrast to linear methods, non-linear methods were able to give better missing value estimations for non-linear structured data.\n\n\nAPPLICATION\nWe applied this technique to a time course of metabolite data from a cold stress experiment on the model plant Arabidopsis thaliana, and could approximate the mapping function from any time point to the metabolite responses. Thus, the inverse NLPCA provides greatly improved information for better understanding the complex response to cold stress.\n\n\nCONTACT\nscholz@mpimp-golm.mpg.de.",
"title": ""
}
] | scidocsrr |
a6ba410d2771eca20bd54bcbe3992c35 | Ice-Breaking: Mitigating Cold-Start Recommendation Problem by Rating Comparison | [
{
"docid": "e870f2fe9a26b241bdeca882b6186169",
"text": "Some people may be laughing when looking at you reading in your spare time. Some may be admired of you. And some may want be like you who have reading hobby. What about your own feel? Have you felt right? Reading is a need and a hobby at once. This condition is the on that will make you feel that you must read. If you know are looking for the book enPDFd recommender systems handbook as the choice of reading, you can find here.",
"title": ""
},
{
"docid": "499a37563d171054ad0b0d6b8f7007bf",
"text": "For cold-start recommendation, it is important to rapidly profile new users and generate a good initial set of recommendations through an interview process --- users should be queried adaptively in a sequential fashion, and multiple items should be offered for opinion solicitation at each trial. In this work, we propose a novel algorithm that learns to conduct the interview process guided by a decision tree with multiple questions at each split. The splits, represented as sparse weight vectors, are learned through an L_1-constrained optimization framework. The users are directed to child nodes according to the inner product of their responses and the corresponding weight vector. More importantly, to account for the variety of responses coming to a node, a linear regressor is learned within each node using all the previously obtained answers as input to predict item ratings. A user study, preliminary but first in its kind in cold-start recommendation, is conducted to explore the efficient number and format of questions being asked in a recommendation survey to minimize user cognitive efforts. Quantitative experimental validations also show that the proposed algorithm outperforms state-of-the-art approaches in terms of both the prediction accuracy and user cognitive efforts.",
"title": ""
}
] | [
{
"docid": "bfdfac980d1629f85f5bd57705b11b19",
"text": "Deduplication is an approach of avoiding storing data blocks with identical content, and has been shown to effectively reduce the disk space for storing multi-gigabyte virtual machine (VM) images. However, it remains challenging to deploy deduplication in a real system, such as a cloud platform, where VM images are regularly inserted and retrieved. We propose LiveDFS, a live deduplication file system that enables deduplication storage of VM images in an open-source cloud that is deployed under low-cost commodity hardware settings with limited memory footprints. LiveDFS has several distinct features, including spatial locality, prefetching of metadata, and journaling. LiveDFS is POSIXcompliant and is implemented as a Linux kernel-space file system. We deploy our LiveDFS prototype as a storage layer in a cloud platform based on OpenStack, and conduct extensive experiments. Compared to an ordinary file system without deduplication, we show that LiveDFS can save at least 40% of space for storing VM images, while achieving reasonable performance in importing and retrieving VM images. Our work justifies the feasibility of deploying LiveDFS in an open-source cloud.",
"title": ""
},
{
"docid": "f2b291fd6dacf53ed88168d7e1e4ecce",
"text": "BACKGROUND\nAs trials of 5 years of tamoxifen in early breast cancer mature, the relevance of hormone receptor measurements (and other patient characteristics) to long-term outcome can be assessed increasingly reliably. We report updated meta-analyses of the trials of 5 years of adjuvant tamoxifen.\n\n\nMETHODS\nWe undertook a collaborative meta-analysis of individual patient data from 20 trials (n=21,457) in early breast cancer of about 5 years of tamoxifen versus no adjuvant tamoxifen, with about 80% compliance. Recurrence and death rate ratios (RRs) were from log-rank analyses by allocated treatment.\n\n\nFINDINGS\nIn oestrogen receptor (ER)-positive disease (n=10,645), allocation to about 5 years of tamoxifen substantially reduced recurrence rates throughout the first 10 years (RR 0·53 [SE 0·03] during years 0-4 and RR 0·68 [0·06] during years 5-9 [both 2p<0·00001]; but RR 0·97 [0·10] during years 10-14, suggesting no further gain or loss after year 10). Even in marginally ER-positive disease (10-19 fmol/mg cytosol protein) the recurrence reduction was substantial (RR 0·67 [0·08]). In ER-positive disease, the RR was approximately independent of progesterone receptor status (or level), age, nodal status, or use of chemotherapy. Breast cancer mortality was reduced by about a third throughout the first 15 years (RR 0·71 [0·05] during years 0-4, 0·66 [0·05] during years 5-9, and 0·68 [0·08] during years 10-14; p<0·0001 for extra mortality reduction during each separate time period). Overall non-breast-cancer mortality was little affected, despite small absolute increases in thromboembolic and uterine cancer mortality (both only in women older than 55 years), so all-cause mortality was substantially reduced. In ER-negative disease, tamoxifen had little or no effect on breast cancer recurrence or mortality.\n\n\nINTERPRETATION\n5 years of adjuvant tamoxifen safely reduces 15-year risks of breast cancer recurrence and death. ER status was the only recorded factor importantly predictive of the proportional reductions. Hence, the absolute risk reductions produced by tamoxifen depend on the absolute breast cancer risks (after any chemotherapy) without tamoxifen.\n\n\nFUNDING\nCancer Research UK, British Heart Foundation, and Medical Research Council.",
"title": ""
},
{
"docid": "76666e9ba10179c8c17edde34cd3ffbc",
"text": "The purpose of this paper is to present an asymmetrical V-shape rotor configuration of an interior permanent magnet (IPM) machine for improving the torque characteristics, i.e., reducing cogging torque and torque ripple. Using this rotor configuration, the great reduction of the cogging torque and the torque ripple can be achieved. To acquire more desired torque characteristics, an optimization design is implemented using hybrid genetic algorithm-Taguchi (HGAT). Time-stepping finite-element analysis is adopted to calculate the torque characteristics for comparison and analyses. The best set of design parameters is found out; and the IPM model optimized using the HGAT shows even better torque characteristics. An IPM machine prototype having HGAT-design parameters was manufactured for test, and the effectiveness of the proposed rotor is verified by comparison between the simulation and the experiment results.",
"title": ""
},
{
"docid": "1d1f14cb78693e56d014c89eacfcc3ef",
"text": "We undertook a meta-analysis of six Crohn's disease genome-wide association studies (GWAS) comprising 6,333 affected individuals (cases) and 15,056 controls and followed up the top association signals in 15,694 cases, 14,026 controls and 414 parent-offspring trios. We identified 30 new susceptibility loci meeting genome-wide significance (P < 5 × 10−8). A series of in silico analyses highlighted particular genes within these loci and, together with manual curation, implicated functionally interesting candidate genes including SMAD3, ERAP2, IL10, IL2RA, TYK2, FUT2, DNMT3A, DENND1B, BACH2 and TAGAP. Combined with previously confirmed loci, these results identify 71 distinct loci with genome-wide significant evidence for association with Crohn's disease.",
"title": ""
},
{
"docid": "a2e2e49ba695f81eed05abaa9333b4f2",
"text": "This paper presents an automatic lesion segmentation method based on similarities between multichannel patches. A patch database is built using training images for which the label maps are known. For each patch in the testing image, k similar patches are retrieved from the database. The matching labels for these k patches are then combined to produce an initial segmentation map for the test case. Finally an iterative patch-based label refinement process based on the initial segmentation map is performed to ensure the spatial consistency of the detected lesions. The method was evaluated in experiments on multiple sclerosis (MS) lesion segmentation in magnetic resonance images (MRI) of the brain. An evaluation was done for each image in the MICCAI 2008 MS lesion segmentation challenge. Results are shown to compete with the state of the art in the challenge. We conclude that the proposed algorithm for segmentation of lesions provides a promising new approach for local segmentation and global detection in medical images.",
"title": ""
},
{
"docid": "7057a9c1cedafe1fca48b886afac20d3",
"text": "In this paper, we develop an approach to exploiting kernel methods with manifold-valued data. In many computer vision problems, the data can be naturally represented as points on a Riemannian manifold. Due to the non-Euclidean geometry of Riemannian manifolds, usual Euclidean computer vision and machine learning algorithms yield inferior results on such data. In this paper, we define Gaussian radial basis function (RBF)-based positive definite kernels on manifolds that permit us to embed a given manifold with a corresponding metric in a high dimensional reproducing kernel Hilbert space. These kernels make it possible to utilize algorithms developed for linear spaces on nonlinear manifold-valued data. Since the Gaussian RBF defined with any given metric is not always positive definite, we present a unified framework for analyzing the positive definiteness of the Gaussian RBF on a generic metric space. We then use the proposed framework to identify positive definite kernels on two specific manifolds commonly encountered in computer vision: the Riemannian manifold of symmetric positive definite matrices and the Grassmann manifold, i.e., the Riemannian manifold of linear subspaces of a Euclidean space. We show that many popular algorithms designed for Euclidean spaces, such as support vector machines, discriminant analysis and principal component analysis can be generalized to Riemannian manifolds with the help of such positive definite Gaussian kernels.",
"title": ""
},
{
"docid": "7ca6ea8592c0bd3a31108221975f9470",
"text": "BACKGROUND\nThe dermoscopic patterns of pigmented skin tumors are influenced by the body site.\n\n\nOBJECTIVE\nTo evaluate the clinical and dermoscopic features associated with pigmented vulvar lesions.\n\n\nMETHODS\nRetrospective analysis of clinical and dermoscopic images of vulvar lesions. The χ² test was used to test the association between clinical data and histopathological diagnosis.\n\n\nRESULTS\nA total of 42 (32.8%) melanocytic and 86 (67.2%) nonmelanocytic vulvar lesions were analyzed. Nevi significantly prevailed in younger women compared with melanomas and melanosis and exhibited most commonly a globular/cobblestone (51.3%) and a mixed (21.6%) pattern. Dermoscopically all melanomas showed a multicomponent pattern. Melanotic macules showed clinical overlapping features with melanoma, but their dermoscopic patterns differed significantly from those observed in melanomas.\n\n\nCONCLUSION\nThe diagnosis and management of pigmented vulvar lesions should be based on a good clinicodermoscopic correlation. Dermoscopy may be helpful in the differentiation of solitary melanotic macules from early melanoma.",
"title": ""
},
{
"docid": "10f4d5815cbaaba862ee114c1194b2ed",
"text": "INTRODUCTION\nBurnout can create problems in every aspect of individual's' human life. It may have an adverse effect on interpersonal and family relations and can lead to a general negative attitude towards life.\n\n\nAIM\nThe purpose of this study is to investigate whether burnout is associated with the mental health status of health care providers.\n\n\nMATERIAL AND METHODS\nThe sample in this study consisted of 240 health care employees. The Greek version of Maslach's Burnout Inventory (MBI) was used for measuring burnout levels and the Greek version of the Symptoms Rating Scale for Depression and Anxiety (SRSDA) questionnaire was used to evaluate health care providers' mental health status. Descriptive statistics were initially generated for sample characteristics. Normality was checked by the Kolmogorov-Smirnov test and data was processed with parametric tests. General linear models with MBI dimensions as independent variables and SRSDA subscales as dependent variables were used to determine the relation between burnout and mental health status. Statistics were processed with SPSS v. 17.0 (SPSS, Chicago, IL, USA). Statistical significance was set at p=0.05.\n\n\nRESULTS\nThe average age of the sample is 40.00±7.95 years. Regarding gender the percentage of men is 21.40% (N=49) and of women is 78.60% (N=180). Overall the professional burnout of health care workers is moderate. The mean score for emotional exhaustion is 26.41, for personal accomplishment 36.70 and for depersonalization 9.81. The mean for each subscale of SRSDA is 8.23±6.79 for Depression Beck-21, 3.96±4.26 for Depression Beck-13, 4.91±4.44 for Melancholia, 6.32±4.35 for Asthenia and 6.36±4.72 for Anxiety. The results of general linear models with the MBI dimensions as independent variables and the SRSDA subscales as dependent variables are shown that emotional exhaustion and personal accomplishment are statistically correlated with all subscales of SRSDA, while depersonalization is not correlated with any SRSDA subscale.\n\n\nCONCLUSIONS\nBurnout appears to implicate mental health status of healthcare providers in work index. Emotional exhaustion is the burnout dimension that is correlated the most with employees' mental health.",
"title": ""
},
{
"docid": "1e474d00718f2937f9600b64dd84b642",
"text": "Abstract Background: Allergies manifest in various forms, which can be mild and unnoticeable to life threatening anaphylaxis. To pin point the exact agent causing the allergy is a challenge. Case Description: A 6 year old boy presented with pain and burning sensation in the right side of the mouth since 10 days. His mother gave a history of visiting a dentist 1 month back where he was prescribed fluoridated pediatric toothpaste. On using the toothpaste the patient noticed occurrence of small fluid filled boils in the right cheek region and the right side of the tongue which slowly increased in size and turned flat. Since 10 days the pain is severe and causing difficulty to open the mouth, talk and eat. Clinical implications: Dentists should exercise care when prescribing any new products to patients and be aware of their allergic potential. Also any allergic manifestations should be recognized early and managed appropriately.",
"title": ""
},
{
"docid": "5e861eeaecc70dbefcfff8616747eb99",
"text": "Atrial fibrillation (AF) is the most common arrhythmia (estimated lifetime risk, 22%-26%). The aim of this article is to review the clinical epidemiological features of AF and to relate them to underlying mechanisms. Long-established risk factors for AF include aging, male sex, hypertension, valve disease, left ventricular dysfunction, obesity, and alcohol consumption. Emerging risk factors include prehypertension, increased pulse pressure, obstructive sleep apnea, high-level physical training, diastolic dysfunction, predisposing gene variants, hypertrophic cardiomyopathy, and congenital heart disease. Potential risk factors are coronary artery disease, kidney disease, systemic inflammation, pericardial fat, and tobacco use. AF has substantial population health consequences, including impaired quality of life, increased hospitalization rates, stroke occurrence, and increased medical costs. The pathophysiology of AF centers around 4 general types of disturbances that promote ectopic firing and reentrant mechanisms, and include the following: (1) ion channel dysfunction, (2) Ca(2+)-handling abnormalities, (3) structural remodeling, and (4) autonomic neural dysregulation. Aging, hypertension, valve disease, heart failure, myocardial infarction, obesity, smoking, diabetes mellitus, thyroid dysfunction, and endurance exercise training all cause structural remodeling. Heart failure and prior atrial infarction also cause Ca(2+)-handling abnormalities that lead to focal ectopic firing via delayed afterdepolarizations/triggered activity. Neural dysregulation is central to atrial arrhythmogenesis associated with endurance exercise training and occlusive coronary artery disease. Monogenic causes of AF typically promote the arrhythmia via ion channel dysfunction, but the mechanisms of the more common polygenic risk factors are still poorly understood and under intense investigation. Better recognition of the clinical epidemiology of AF, as well as an improved appreciation of the underlying mechanisms, is needed to develop improved methods for AF prevention and management.",
"title": ""
},
{
"docid": "4033e07d16ad317b442be476e608e48d",
"text": "In this research, a gas sensor using double split-ring resonator (DSRR) incorporated with conducting polymer (CP) is proposed at microwave frequencies (Ku-band). The DSRR fabricated on printed circuit board (PCB) is excited by a high-impedance microstrip line, and the CP is coated inside of an inner circle of the DSRR. Electrical characteristics of the CP can be deviated by an interaction between CP and a target gas, and then this deviation of electrical characteristic is demonstrated by S21 frequency response of the DSRR. To examine the performance of the proposed sensor, 100 ppm ethanol (C2H5OH) gas is exposed at room temperature. According to the measured result, the S21 resonance frequency of the DSRR is shifted by 220 MHz and simultaneously, the resonance amplitude is changed by 0.79 dB level. It is clearly found that the DSRR with CP material can be a good candidate for a sensitive gas sensor operating at microwave frequencies.",
"title": ""
},
{
"docid": "998aef287b9d5bb8f13cddae0be18e80",
"text": "In this paper, we use dynamical system to analyze the nonlinear weight dynamics of two-layered bias-free networks in the form of g(x;w) = ∑K j=1 σ(w T j x), where σ(·) is ReLU nonlinearity. We assume that the input x follow Gaussian distribution. The network is trained using gradient descent to mimic the output of a teacher network of the same size with fixed parameters w∗ using l2 loss. We first show that when K = 1, the nonlinear dynamics can be written in close form, and converges to w∗ with at least (1 − )/2 probability, if random weight initializations of proper standard derivation (∼ 1/ √ d) is used, verifying empirical practice [Glorot & Bengio (2010); He et al. (2015); LeCun et al. (2012)]. For networks with many ReLU nodes (K ≥ 2), we apply our close form dynamics and prove that when the teacher parameters {w∗ j}j=1 forms orthonormal bases, (1) a symmetric weight initialization yields a convergence to a saddle point and (2) a certain symmetry-breaking weight initialization yields global convergence to w∗ without local minima. To our knowledge, this is the first proof that shows global convergence in nonlinear neural network without unrealistic assumptions on the independence of ReLU activations. In addition, we also give a concise gradient update formulation for a multilayer ReLU network when it follows a teacher of the same size with l2 loss. Simulations verify our theoretical analysis.",
"title": ""
},
{
"docid": "11c4d318abb6d2e838f74d2a6ae61415",
"text": "We propose a new framework for entity and event extraction based on generative adversarial imitation learning – an inverse reinforcement learning method using generative adversarial network (GAN). We assume that instances and labels yield to various extents of difficulty and the gains and penalties (rewards) are expected to be diverse. We utilize discriminators to estimate proper rewards according to the difference between the labels committed by ground-truth (expert) and the extractor (agent). Experiments also demonstrate that the proposed framework outperforms state-of-the-art methods.",
"title": ""
},
{
"docid": "91a73d0e3e5d7a60b28357bc47868b87",
"text": "Modeling, understanding, and predicting the spatio-temporal dynamics of online memes are important tasks, with ramifications on location-based services, social media search, targeted advertising and content delivery networks. However, the raw data revealing these dynamics are often incomplete and error-prone; for example, API limitations and data sampling policies can lead to an incomplete (and often biased) perspective on these dynamics. Hence, in this paper, we investigate new methods for uncovering the full (underlying) distribution through a novel spatio-temporal dynamics recovery framework which models the latent relationships among locations, memes, and times. By integrating these hidden relationships into a tensor-based recovery framework -- called AirCP -- we find that high-quality models of meme spread can be built with access to only a fraction of the full data. Experimental results on both synthetic and real-world Twitter hashtag data demonstrate the promising performance of the proposed framework: an average improvement of over 27% in recovering the spatio-temporal dynamics of hashtags versus five state-of-the-art alternatives.",
"title": ""
},
{
"docid": "c29b91a5b580a620bb245519695a6cd9",
"text": "It is commonly believed that datacenter networking software must sacri ce generality to attain high performance. The popularity of specialized distributed systems designed speci cally for niche technologies such as RDMA, lossless networks, FPGAs, and programmable switches testi es to this belief. In this paper, we show that such specialization is unnecessary. eRPC is a new general-purpose remote procedure call (RPC) library that o ers performance comparable to specialized systems, while running on commodity CPUs in traditional datacenter networks based on either lossy Ethernet or lossless fabrics. eRPC performs well in three key metrics: message rate for small messages; bandwidth for large messages; and scalability to a large number of nodes and CPU cores. It handles packet loss, congestion, and background request execution. In microbenchmarks, one CPU core can handle up to 5 million small eRPC requests per second, or saturate a 40 Gbps link with large messages. We port a production-grade implementation of Raft state machine replication to eRPC without modifying the core Raft source code. We achieve 5.5 μs of replication latency on lossy Ethernet, which is faster or comparable to specialized replication systems that use programmable switches, FPGAs, or RDMA.",
"title": ""
},
{
"docid": "64a634a76a39fbc1930a7ca66e21e125",
"text": "This paper presents a broadband cascode SiGe power amplifier (PA) in the polar transmitter (TX) system using the envelope-tacking (ET) technique. The cascode PA achieves the power-added efficiency (PAE) of >30% across the frequency range of 0.6∼2.4 GHz in continuous wave (CW) mode. The ET-based polar TX system using this cascode PA is evaluated and compared with the conventional stand-alone cascode PA. The experimental data shows that the cascode PA is successfully linearized by the ET scheme, passing the stringent WiMAX spectral mask and the required error vector magnitude (EVM). The entire polar TX system reaches the PAE of 30%/36% at the average output power of 18/17 dBm at 2.3/0.7 GHz for WiMAX 16QAM 3.5 MHz signals. These measurement results suggest that our saturated cascode SiGe PA can be attractive for dual-mode WiMAX applications.",
"title": ""
},
{
"docid": "9af09d6ba8b1628284f3169316993ee0",
"text": "This paper proposed a retinal image segmentation method based on conditional Generative Adversarial Network (cGAN) to segment optic disc. The proposed model consists of two successive networks: generator and discriminator. The generator learns to map information from the observing input (i.e., retinal fundus color image), to the output (i.e., binary mask). Then, the discriminator learns as a loss function to train this mapping by comparing the ground-truth and the predicted output with observing the input image as a condition. Experiments were performed on two publicly available dataset; DRISHTI GS1 and RIM-ONE. The proposed model outperformed state-of-the-art-methods by achieving around 0.96 and 0.98 of Jaccard and Dice coefficients, respectively. Moreover, an image segmentation is performed in less than a second on recent GPU.",
"title": ""
},
{
"docid": "03aac64e2d209d628874614d061b90f9",
"text": "Patterns of reading development were examined in native English-speaking (L1) children and children who spoke English as a second language (ESL). Participants were 978 (790 L1 speakers and 188 ESL speakers) Grade 2 children involved in a longitudinal study that began in kindergarten. In kindergarten and Grade 2, participants completed standardized and experimental measures including reading, spelling, phonological processing, and memory. All children received phonological awareness instruction in kindergarten and phonics instruction in Grade 1. By the end of Grade 2, the ESL speakers' reading skills were comparable to those of L1 speakers, and ESL speakers even outperformed L1 speakers on several measures. The findings demonstrate that a model of early identification and intervention for children at risk is beneficial for ESL speakers and also suggest that the effects of bilingualism on the acquisition of early reading skills are not negative and may be positive.",
"title": ""
},
{
"docid": "3a5be5b365cfdc6f29646bf97953fc18",
"text": "Fuzzy set methods have been used to model and manage uncertainty in various aspects of image processing, pattern recognition, and computer vision. High-level computer vision applications hold a great potential for fuzzy set theory because of its links to natural language. Linguistic scene description, a language-based interpretation of regions and their relationships, is one such application that is starting to bear the fruits of fuzzy set theoretic involvement. In this paper, we are expanding on two earlier endeavors. We introduce new families of fuzzy directional relations that rely on the computation of histograms of forces. These families preserve important relative position properties. They provide inputs to a fuzzy rule base that produces logical linguistic descriptions along with assessments as to the validity of the descriptions. Each linguistic output uses hedges from a dictionary of about 30 adverbs and other terms that can be tailored to individual users. Excellent results from several synthetic and real image examples show the applicability of this approach.",
"title": ""
},
{
"docid": "29f84c19870151abc266a1f37702643c",
"text": "Choice poetics is a formalist framework that seeks to concretely describe the impacts choices have on player experiences within narrative games. Developed in part to support algorithmic generation of narrative choices, the theory includes a detailed analytical framework for understanding the impressions choice structures make by analyzing the relationships among options, outcomes, and player goals. The theory also emphasizes the need to account for players’ various modes of engagement, which vary both during play and between players. In this work, we illustrate the non-computational application of choice poetics to the analysis of two different games to further develop the theory and make it more accessible to others. We focus first on using choice poetics to examine the central repeated choice in “Undertale,” and show how it can be used to contrast two different player types that will approach a choice differently. Finally, we give an example of fine-grained analysis using a choice from the game “Papers, Please,” which breaks down options and their outcomes to illustrate exactly how the choice pushes players towards complicity via the introduction of uncertainty. Through all of these examples, we hope to show the usefulness of choice poetics as a framework for understanding narrative choices, and to demonstrate concretely how one could productively apply it to choices “in the wild.”",
"title": ""
}
] | scidocsrr |
6f3a839835df297d40359fc96f2176d7 | Relational Reinforcement Learning | [
{
"docid": "d08529ef66abefda062a414acb278641",
"text": "Spend your few moment to read a book even only few pages. Reading book is not obligation and force for everybody. When you don't want to read, you can get punishment from the publisher. Read a book becomes a choice of your different characteristics. Many people with reading habit will always be enjoyable to read, or on the contrary. For some reasons, this inductive logic programming techniques and applications tends to be the representative book in this website.",
"title": ""
},
{
"docid": "bc0def2cdcb570feaee55293cea0c97f",
"text": "Inductive Logic Programming (ILP) is a new discipline which investigates the inductive construction of rst-order clausal theories from examples and background knowledge. We survey the most important theories and methods of this new eld. Firstly, various problem speciications of ILP are formalised in semantic settings for ILP, yielding a \\model-theory\" for ILP. Secondly, a generic ILP algorithm is presented. Thirdly, the inference rules and corresponding operators used in ILP are presented, resulting in a \\proof-theory\" for ILP. Fourthly, since inductive inference does not produce statements which are assured to follow from what is given, inductive inferences require an alternative form of justiication. This can take the form of either probabilistic support or logical constraints on the hypothesis language. Information compression techniques used within ILP are presented within a unifying Bayesian approach to connrmation and corroboration of hypotheses. Also, diierent ways to constrain the hypothesis language, or specify the declarative bias are presented. Fifthly, some advanced topics in ILP are addressed. These include aspects of computational learning theory as applied to ILP, and the issue of predicate invention. Finally, we survey some applications and implementations of ILP. ILP applications fall under two diierent categories: rstly scientiic discovery and knowledge acquisition, and secondly programming assistants.",
"title": ""
}
] | [
{
"docid": "73940354496e29cbdeea127fb6a9da6b",
"text": "Available online 3 November 2011",
"title": ""
},
{
"docid": "1f809c009955737df324c6e466a86d70",
"text": "Digital banking as an essential service can be hard to access in remote, rural regions where the network connectivity is unavailable or intermittent. The payment operators like Visa and Mastercard often face difficulties reaching these remote, rural areas. Although micro-banking has been made possible by short message service or unstructured supplementary service data messages in some places, their security flaws and session-based nature prevent them from wider adoption. Global-level cryptocurrencies enable low-cost, secure, and pervasive money transferring among distributed peers, but are still limited in their ability to reach people in remote communities. We propose a blockchain-based digital payment scheme that can deliver reliable services on top of unreliable networks in remote regions. We focus on a scenario where a community-run base station provides reliable local network connectivity while intermittently connects to the broader Internet. We take advantage of the distributed verification guarantees of the Blockchain technology for financial transaction verification and leverage smart contracts for secure service management. In the proposed system, payment operators deploy multiple proxy nodes that are intermittently connected to the remote communities where the local blockchain networks, such as Ethereum are composed of miners, vendors, and regular users. Through probabilistic modeling, we devise design parameters for the blockchain network to realize robust operation over the top of the unreliable network. Furthermore, we show that the transaction processing time will not be significantly impacted due to the network unreliability through extensive emulations on a private Ethereum network. Finally, we demonstrate the practical feasibility of the proposed system by developing Near Field Communication (NFC)-enabled payment gateways on Raspberry-Pis, a mobile wallet application and mining nodes on off-the-shelf computers.",
"title": ""
},
{
"docid": "cbbe1d60d580dccba44c13a7b88630e0",
"text": "OF THE DISSERTATION Sampling Algorithms to Handle Nuisances in Large-Scale Recognition",
"title": ""
},
{
"docid": "b14ce16f81bf19c2e3ae1120b42f14c0",
"text": "Most robotic grasping tasks assume a stationary or fixed object. In this paper, we explore the requirements for tracking and grasping a moving object. The focus of our work is to achieve a high level of interaction between a real-time vision system capable of tracking moving objects in 3-D and a robot arm with gripper that can be used to pick up a moving object. There is an interest in exploring the interplay of hand-eye coordination for dynamic grasping tasks such as grasping of parts on a moving conveyor system, assembly of articulated parts, or for grasping from a mobile robotic system. Coordination between an organism's sensing modalities and motor control system is a hallmark of intelligent behavior, and we are pursuing the goal of building an integrated sensing and actuation system that can operate in dynamic as opposed to static environments. The system we have built addresses three distinct problems in robotic hand-eye coordination for grasping moving objects: fast computation of 3-D motion parameters from vision, predictive control of a moving robotic arm to track a moving object, and interception and grasping. The system is able to operate at approximately human arm movement rates, and experimental results in which a moving model train is tracked is presented, stably grasped, and picked up by the system. The algorithms we have developed that relate sensing to actuation are quite general and applicable to a variety of complex robotic tasks that require visual feedback for arm and hand control.",
"title": ""
},
{
"docid": "a72efe95f299903639756f7501a6900b",
"text": "With the advent of the Internet of Things (IoT), communication between connected machines has become necessity. We simulate the communication of IoT by short-lived instant messaging for group communication. Group communication security requires such measures as group forward and backward secrecy and perfect forward secrecy. We satisfy these security measures by using a group controller and Attributebased Encryption (ABE) to encrypt data on update procedures. The communication overhead is outsourced to a mediating MQ Telemetry Transport broker. Thus, we decrease the costs for group joins and leaves to T(1). The number of attributes used in the system are reduced to O(log(N)), where N represents the maximum number of members. We provide an intuitive approach to fit the maximum number N = 2k members to our requirements and to increase the maximum size of members, if needed by N = 2k+1.",
"title": ""
},
{
"docid": "7c2960e9fd059e57b5a0172e1d458250",
"text": "The main goal of this research is to discover the structure of home appliances usage patterns, hence providing more intelligence in smart metering systems by taking into account the usage of selected home appliances and the time of their usage. In particular, we present and apply a set of unsupervised machine learning techniques to reveal specific usage patterns observed at an individual household. The work delivers the solutions applicable in smart metering systems that might: (1) contribute to higher energy awareness; (2) support accurate usage forecasting; and (3) provide the input for demand response systems in homes with timely energy saving recommendations for users. The results provided in this paper show that determining household characteristics from smart meter data is feasible and allows for quickly grasping general trends in data.",
"title": ""
},
{
"docid": "2d04a311815c8fef8728e4a992d3efac",
"text": "The amidase activities of two Aminobacter sp. strains (DSM24754 and DSM24755) towards the aryl-substituted substrates phenylhydantoin, indolylmethyl hydantoin, D,L-6-phenyl-5,6-dihydrouracil (PheDU) and para-chloro-D,L-6-phenyl-5,6-dihydrouracil were compared. Both strains showed hydantoinase and dihydropyrimidinase activity by hydrolyzing all substrates to the corresponding N-carbamoyl-α- or N-carbamoyl-β-amino acids. However, carbamoylase activity and thus a further degradation of these products to α- and β-amino acids was not detected. Additionally, the genes coding for a dihydropyrimidinase and a carbamoylase of Aminobacter sp. DSM24754 were elucidated. For Aminobacter sp. DSM24755 a dihydropyrimidinase gene flanked by two genes coding for putative ABC transporter proteins was detected. The deduced amino acid sequences of both dihydropyrimidinases are highly similar to the well-studied dihydropyrimidinase of Sinorhizobium meliloti CECT4114. The latter enzyme is reported to accept substituted hydantoins and dihydropyrimidines as substrates. The deduced amino acid sequence of the carbamoylase gene shows a high similarity to the very thermostable enzyme of Pseudomonas sp. KNK003A.",
"title": ""
},
{
"docid": "fb177ec14deca616fb5b096c5119cd6c",
"text": "We introduce the concept of numerical Gaussian processes, which we define as Gaussian processes with covariance functions resulting from temporal discretization of time-dependent partial differential equations. Numerical Gaussian processes, by construction, are designed to deal with cases where: (1) all we observe are noisy data on black-box initial conditions, and (2) we are interested in quantifying the uncertainty associated with such noisy data in our solutions to time-dependent partial differential equations. Our method circumvents the need for spatial discretization of the differential operators by proper placement of Gaussian process priors. This is an attempt to construct structured and data-efficient learning machines, which are explicitly informed by the underlying physics that possibly generated the observed data. The effectiveness of the proposed approach is demonstrated through several benchmark problems involving linear and nonlinear time-dependent operators. In all examples, we are able to recover accurate approximations of the latent solutions, and consistently propagate uncertainty, even in cases involving very long time integration.",
"title": ""
},
{
"docid": "0cc86e894165216fda1ff82c636272a1",
"text": "In the era of globalization, concepts such as individualization and personalization become more and more important in virtual systems. With the goal of creating a more familiar interaction between human and machines, it makes sense to create a consistent and believable model of personality. This paper presents an explicit model of personality, based in the Five Factor Model, which aims at the creation of distinguishable personalities by using the personality traits to automatically influence cognitive processes: appraisal, planning,coping, and bodily expression.",
"title": ""
},
{
"docid": "06ff54cb5c44fdc49000f6c1b5a2bf01",
"text": "Ego-disturbances have been a topic in schizophrenia research since the earliest clinical descriptions of the disorder. Manifesting as a feeling that one's \"self,\" \"ego,\" or \"I\" is disintegrating or that the border between one's self and the external world is dissolving, \"ego-disintegration\" or \"dissolution\" is also an important feature of the psychedelic experience, such as is produced by psilocybin (a compound found in \"magic mushrooms\"). Fifteen healthy subjects took part in this placebo-controlled study. Twelve-minute functional MRI scans were acquired on two occasions: subjects received an intravenous infusion of saline on one occasion (placebo) and 2 mg psilocybin on the other. Twenty-two visual analogue scale ratings were completed soon after scanning and the first principal component of these, dominated by items referring to \"ego-dissolution\", was used as a primary measure of interest in subsequent analyses. Employing methods of connectivity analysis and graph theory, an association was found between psilocybin-induced ego-dissolution and decreased functional connectivity between the medial temporal lobe and high-level cortical regions. Ego-dissolution was also associated with a \"disintegration\" of the salience network and reduced interhemispheric communication. Addressing baseline brain dynamics as a predictor of drug-response, individuals with lower diversity of executive network nodes were more likely to experience ego-dissolution under psilocybin. These results implicate MTL-cortical decoupling, decreased salience network integrity, and reduced inter-hemispheric communication in psilocybin-induced ego disturbance and suggest that the maintenance of \"self\"or \"ego,\" as a perceptual phenomenon, may rest on the normal functioning of these systems.",
"title": ""
},
{
"docid": "55d92c6a46c491a5cc8d727536077c3c",
"text": "Given a collection of objects and an associated similarity measure, the all-pairs similarity search problem asks us to find all pairs of objects with similarity greater than a certain user-specified threshold. Locality-sensitive hashing (LSH) based methods have become a very popular approach for this problem. However, most such methods only use LSH for the first phase of similarity search i.e. efficient indexing for candidate generation. In this paper, we presentBayesLSH, a principled Bayesian algorithm for the subsequent phase of similarity search performing candidate pruning and similarity estimation using LSH. A simpler variant, BayesLSHLite, which calculates similarities exactly, is also presented. BayesLSH is able to quickly prune away a large majority of the false positive candidate pairs, leading to significant speedups over baseline approaches. For BayesLSH, we also provide probabilistic guarantees on the quality of the output, both in terms of accuracy and recall. Finally, the quality of BayesLSH’s output can be easily tuned and does not require any manual setting of the number of hashes to use for similarity estimation, unlike standard approaches. For two state-of-the-art candidate generation algorithms, AllPairs [3] and LSH, BayesLSH enables significant speedups, typically in the range 2x-20x for a wide variety of datasets.",
"title": ""
},
{
"docid": "5fe7cf9d742f79263e804f164b48d208",
"text": "In this paper we consider the cognitive radio system based on spectrum sensing, and propose an error correction technique for its performance improvement. We analyze secondary user link based on Orthogonal Frequency-Division Multiplexing (OFDM), realized by using Universal Software Radio Peripheral N210 platforms. Parameters of low density parity check codes and interleaver that provide significant performance improvement for the acceptable decoding latency are identified. The experimental results will be compared with the Monte Carlo simulation results obtained by using the simplified channel models.",
"title": ""
},
{
"docid": "25d4dab65c13696bff0195e3981b5c86",
"text": "In the proposed Irrigation system IoT is implemented, in this system all the information that are received from the sensors and the various parameters are given to the arduinouno microcontroller as an analog input. A preset value of soil moisture sensor is fixed in microcontroller and also for fencing. When it goes beyond the particular threshold value water is automatically irrigated to the crops and once the required amount of water is fulfilled it stops. The Microcontroller transmits that information on the internet through a network of IoT in the form of wifi module ESP8266 that is attached to it. This enhances automated irrigation as the water pump can be switched on or off through information given to the controller. This proposed Irrigation system is used to get the chlorophyll content and nitrogen content of the leaf using LDR and Laser. This approach is for the advancement of irrigation process by automatic method without manpower by measuring various parameters related to the field and thus improves irrigation.",
"title": ""
},
{
"docid": "65d1578555a3d29ddc7daf1dd48c8e06",
"text": "Overhangs have been a major stumbling block in the context of terrain synthesis models. These models resort invariably to a heightfield paradigm, which immediately precludes the existence of any type of overhang. This article presents a new technique for the generation of surfaces, with the ability to model overhangs in a procedural way. This technique can be used generally to model landscape elements, not only terrains but also the surface of the sea. The technique applies non-linear deformations to an initial heightfield surface. The deformations occur after the surface has been displaced along some specified vector field. The method is conceptually simple and enhances greatly the class of landscapes synthesized with procedural models.",
"title": ""
},
{
"docid": "0c09c0cc8906f0d8d10f09439985e413",
"text": "A lot of effort has been put into researching image interpretation, but there is still no universally accepted approach to map low-level feature into high level image semantic interpretation [1]. In this paper, a method for continuous low-level features vector quantization is presented so as to define appropriate values for descriptive variables. The similarity among different concepts of the domain is examined and compared by using the measure of similarity which is based on the probabilistic model and the measure of distance. Also, an abstract image description vector suitable for image analysis is given.",
"title": ""
},
{
"docid": "18e4a195b6de89ac0fd1c18fe3a41a41",
"text": "Basic topological modeling, such as the ability to have several faces share a common edge, has been largely absent from vector graphics. We introduce the vector graphics complex (VGC) as a simple data structure to support fundamental topological modeling operations for vector graphics illustrations. The VGC can represent any arbitrary non-manifold topology as an immersion in the plane, unlike planar maps which can only represent embeddings. This allows for the direct representation of incidence relationships between objects and can therefore more faithfully capture the intended semantics of many illustrations, while at the same time keeping the geometric flexibility of stacking-based systems. We describe and implement a set of topological editing operations for the VGC, including glue, unglue, cut, and uncut. Our system maintains a global stacking order for all faces, edges, and vertices without requiring that components of an object reside together on a single layer. This allows for the coordinated editing of shared vertices and edges even for objects that have components distributed across multiple layers. We introduce VGC-specific methods that are tailored towards quickly achieving desired stacking orders for faces, edges, and vertices.",
"title": ""
},
{
"docid": "9e68f50309814e976abff3f5a5926a57",
"text": "This paper presents a compact and broadband micro strip patch antenna array (BMPAA) with uniform linear array configuration of 4x1 elemnt for 3G applications. The 4×1 BMPAA was designed and developed by integrating new patch sha pe Hybrid E-H shape, L-probe feeding, inverted patch structure with air filled dielectric microstr ip patch antenna (MPA) element. The array was constructed using two dielectric layer arrangement with a thick air-filled substrate sandwiched betwee n a top-loaded dielectric substrate ( RT 5880) with inverting radiating patch and a ground plane . The Lprobe fed inverted hybrid E-H (LIEH) shaped BMPAA a chieves an impedance bandwidth of 17.32% referenced to the center frequency at 2.02 GHz (at VSWR ≤ 1.5), maximum achievable gain of 11.9±1dBi, and 23 dB crosspolarization level.",
"title": ""
},
{
"docid": "20572b386fee2eec52d5d54031fc9aa6",
"text": "of the Thesis Attention Correctness in Neural Image Captioning",
"title": ""
},
{
"docid": "e5ede43d313f63f081a70239fa2948d4",
"text": "The main procedure used by clinicians to determine whether an individual may be at risk of suicidal behaviors is the suicide risk assessment (SRA). The purpose of the SRA is to identify risk and protective factors that then provide the data for the formulation of suicide risk. The suicide risk formulation (SRF) assigns a level of suicide risk that ideally leads to triage and treatment deemed appropriate for that level of risk. Some of the problems with the SRA are explored here, with an emphasis on addressing the over reliance on communicated suicide ideation, and recommendations are made for improvements. Part II of this article (Berman & Silverman, 2013, also appears in this issue of STLB) examines the process of an SRF and, similarly, makes recommendations to improve clinical practice toward the desired end of saving lives.",
"title": ""
},
{
"docid": "4690fbbaa412557e3b1c516e9355c9f8",
"text": "JCO/APRIL 2004 M distalization in Class II cases has been accomplished with various functional appliances, including fixed interarch appliances, such as the Herbst* and Jasper Jumper,** and fixed intra-arch appliances. The Twin Force Bite Corrector (TFBC)*** is a new fixed intermaxillary appliance with a built-in constant force for Class II correction. This article presents two patients who were part of a long-term prospective study currently in progress at the University of Connecticut Department of Orthodontics. Each patient was treated with the TFBC to correct a skeletal Class II malocclusion due to a retrognathic mandible.",
"title": ""
}
] | scidocsrr |
fbd2d9c728981726d8416fa5ded6fc38 | Profiling relational data: a survey | [
{
"docid": "576e590fe50a5c7be9acc4d413187b79",
"text": "Make more knowledge even in less time every day. You may not always spend your time and money to go abroad and get the experience and knowledge by yourself. Reading is a good alternative to do in getting this desirable knowledge and experience. You may gain many things from experiencing directly, but of course it will spend much money. So here, by reading data matching, you can take more advantages with limited budget.",
"title": ""
}
] | [
{
"docid": "733885d6ec4ac2f7bce950fb7104773f",
"text": "This paper presents a neuro-fuzzy classifer for activity recognition using one triaxial accelerometer and feature reduction approaches. We use a triaxial accelerometer to acquire subjects’ acceleration data and train the neurofuzzy classifier to distinguish different activities/movements. To construct the neuro-fuzzy classifier, a modified mapping-constrained agglomerative clustering algorithm is devised to reveal a compact data configuration from the acceleration data. In addition, we investigate two different feature reduction methods, a feature subset selection and linear discriminate analysis. These two methods are used to determine the significant feature subsets and retain the characteristics of the data distribution in the feature space for training the neuro-fuzzy classifier. Experimental results have successfully validated the effectiveness of the proposed classifier.",
"title": ""
},
{
"docid": "bd121443b5a1dfb16687001c72b22199",
"text": "We review the nosological criteria and functional neuroanatomical basis for brain death, coma, vegetative state, minimally conscious state, and the locked-in state. Functional neuroimaging is providing new insights into cerebral activity in patients with severe brain damage. Measurements of cerebral metabolism and brain activations in response to sensory stimuli with PET, fMRI, and electrophysiological methods can provide information on the presence, degree, and location of any residual brain function. However, use of these techniques in people with severe brain damage is methodologically complex and needs careful quantitative analysis and interpretation. In addition, ethical frameworks to guide research in these patients must be further developed. At present, clinical examinations identify nosological distinctions needed for accurate diagnosis and prognosis. Neuroimaging techniques remain important tools for clinical research that will extend our understanding of the underlying mechanisms of these disorders.",
"title": ""
},
{
"docid": "72dab1cb47a0360a1f8d3ebe5d9b1c0a",
"text": "This paper presents a new MapReduce cloud service model, Cura, for provisioning cost-effective MapReduce services in a cloud. In contrast to existing MapReduce cloud services such as a generic compute cloud or a dedicated MapReduce cloud, Cura has a number of unique benefits. First, Cura is designed to provide a cost-effective solution to efficiently handle MapReduce production workloads that have a significant amount of interactive jobs. Second, unlike existing services that require customers to decide the resources to be used for the jobs, Cura leverages MapReduce profiling to automatically create the best cluster configuration for the jobs. While the existing models allow only a per-job resource optimization for the jobs, Cura implements a globally efficient resource allocation scheme that significantly reduces the resource usage cost in the cloud. Third, Cura leverages unique optimization opportunities when dealing with workloads that can withstand some slack. By effectively multiplexing the available cloud resources among the jobs based on the job requirements, Cura achieves significantly lower resource usage costs for the jobs. Cura's core resource management schemes include cost-aware resource provisioning, VM-aware scheduling and online virtual machine reconfiguration. Our experimental results using Facebook-like workload traces show that our techniques lead to more than 80 percent reduction in the cloud compute infrastructure cost with upto 65 percent reduction in job response times.",
"title": ""
},
{
"docid": "86314426c9afd5dbd13d096605af7b05",
"text": "Large scale knowledge graphs (KGs) such as Freebase are generally incomplete. Reasoning over multi-hop (mh) KG paths is thus an important capability that is needed for question answering or other NLP tasks that require knowledge about the world. mh-KG reasoning includes diverse scenarios, e.g., given a head entity and a relation path, predict the tail entity; or given two entities connected by some relation paths, predict the unknown relation between them. We present ROPs, recurrent one-hop predictors, that predict entities at each step of mh-KB paths by using recurrent neural networks and vector representations of entities and relations, with two benefits: (i) modeling mh-paths of arbitrary lengths while updating the entity and relation representations by the training signal at each step; (ii) handling different types of mh-KG reasoning in a unified framework. Our models show state-of-the-art for two important multi-hop KG reasoning tasks: Knowledge Base Completion and Path Query Answering.1",
"title": ""
},
{
"docid": "f71b608183cb3673ca15e1348e670791",
"text": "Representing knowledge about researchers and research communities is a prime use case for distributed, locally maintained, interlinked and highly structured information in the spirit of the Semantic Web. In this paper we describe the publicly available ‘Semantic Web for Research Communities’ (SWRC) ontology, in which research communities and relevant related concepts are modelled. We describe the design decisions that underlie the ontology and report on both experiences with and known usages of the SWRC Ontology. We believe that for making the Semantic Web reality the re-usage of ontologies and their continuous improvement by user communities is crucial. Our contribution aims to provide a description and usage guidelines to make the value of the SWRC explicit and to facilitate",
"title": ""
},
{
"docid": "f0f02e6505fe0156b10a6d8f53ffc8a6",
"text": "Microfluidic paper-based analytical devices (μPADs) have emerged as a promising diagnostic platform a decade ago. In contrast to highly active academic developments, their entry into real-life applications is still very limited. This discrepancy is attributed to the gap between research developments and their practical utility, particularly in the aspects of operational simplicity, long-term stability of devices, and associated equipment. On the basis of these backgrounds, this review attempts to: 1) identify the reasons for success of paper-based devices already in the market, 2) describe the current status and remaining issues of μPADs in terms of operational complexity, signal interpretation approaches, and storage stability, and 3) discuss the possibility of mass production based on established manufacturing technologies. Finally, the state-of-the-art in commercialisation of μPADs is discussed, and the \"upgrades\" required from a laboratory-based prototype to an end user device are demonstrated on a specific example.",
"title": ""
},
{
"docid": "a13d1144c4a719b1d6d5f4f0e645c2e3",
"text": "Array antennas for 77GHz automotive radar application are designed and measured. Linear series-fed patch array (SFPA) antenna is designed for transmitters of middle range radar (MRR) and all the receivers. A planar SFPA based on the linear one and substrate integrated waveguide (SIW) feeding network is proposed for transmitter of long range radar (LRR), which can decline the radiation from feeding network itself. The array antennas are fabricated, both the performances with and without radome of these array antennas are measured. Good agreement between simulation and measurement has been achieved. They can be good candidates for 77GHz automotive application.",
"title": ""
},
{
"docid": "712636d3a1dfe2650c0568c8f7cf124c",
"text": "Modern deep neural networks have a large number of parameters, making them very hard to train. We propose DSD, a dense-sparse-dense training flow, for regularizing deep neural networks and achieving better optimization performance. In the first D (Dense) step, we train a dense network to learn connection weights and importance. In the S (Sparse) step, we regularize the network by pruning the unimportant connections with small weights and retraining the network given the sparsity constraint. In the final D (re-Dense) step, we increase the model capacity by removing the sparsity constraint, re-initialize the pruned parameters from zero and retrain the whole dense network. Experiments show that DSD training can improve the performance for a wide range of CNNs, RNNs and LSTMs on the tasks of image classification, caption generation and speech recognition. On ImageNet, DSD improved the Top1 accuracy of GoogLeNet by 1.1%, VGG-16 by 4.3%, ResNet-18 by 1.2% and ResNet-50 by 1.1%, respectively. On the WSJ’93 dataset, DSD improved DeepSpeech and DeepSpeech2 WER by 2.0% and 1.1%. On the Flickr-8K dataset, DSD improved the NeuralTalk BLEU score by over 1.7. DSD is easy to use in practice: at training time, DSD incurs only one extra hyper-parameter: the sparsity ratio in the S step. At testing time, DSD doesn’t change the network architecture or incur any inference overhead. The consistent and significant performance gain of DSD experiments shows the inadequacy of the current training methods for finding the best local optimum, while DSD effectively achieves superior optimization performance for finding a better solution. DSD models are available to download at https://songhan.github.io/DSD.",
"title": ""
},
{
"docid": "cd6c8a707b0f73bb045a9c693cc7a7f5",
"text": "Terpenes are secondary metabolites produced in different biological pathways as defense mechanisms against, among others, nematodes, insects and herbivores. Root-knot nematodes (RKN; Meloidogyne spp.) are one of the most serious pests of economically importance for vegetable production in Greece. The aim of this study was to investigate the nematicidal activity of geraniol on different life stages at 35–1000 ppm doses against the root-knot nematode Meloidogyne javanica. To our knowledge, this study is the first to report the effect of geraniol on egg differentiation and also its sub-lethal doses effect. Experiments testing the contact action of geraniol resulted in about 100% mortality of J2 s, whereas vapor showed only about 10%. Particularly, geraniol paralyzed 100% of second-stage juveniles (J2 s) and inhibited egg hatching in about 70%, at a dose of 500 ppm. In pot experiment, the use of geraniol at sub-lethal doses reduced female numbers in tomato roots. To the contrary, no nematostatic effects were observed in paralysis bioassays. The present study strongly demonstrates geraniol’s toxic effect against root-knot nematode Meloidogyne javanica.",
"title": ""
},
{
"docid": "5ea45a4376e228b3eacebb8dd8e290d2",
"text": "The sharing economy has quickly become a very prominent subject of research in the broader computing literature and the in human--computer interaction (HCI) literature more specifically. When other computing research areas have experienced similarly rapid growth (e.g. human computation, eco-feedback technology), early stage literature reviews have proved useful and influential by identifying trends and gaps in the literature of interest and by providing key directions for short- and long-term future work. In this paper, we seek to provide the same benefits with respect to computing research on the sharing economy. Specifically, following the suggested approach of prior computing literature reviews, we conducted a systematic review of sharing economy articles published in the Association for Computing Machinery Digital Library to investigate the state of sharing economy research in computing. We performed this review with two simultaneous foci: a broad focus toward the computing literature more generally and a narrow focus specifically on HCI literature. We collected a total of 112 sharing economy articles published between 2008 and 2017 and through our analysis of these papers, we make two core contributions: (1) an understanding of the computing community's contributions to our knowledge about the sharing economy, and specifically the role of the HCI community in these contributions (i.e.what has been done) and (2) a discussion of under-explored and unexplored aspects of the sharing economy that can serve as a partial research agenda moving forward (i.e.what is next to do).",
"title": ""
},
{
"docid": "57f4a6ad2e54f84d305ad8ae117bb950",
"text": "Using an event-related functional MRI design, we explored the relative roles of dorsal and ventral prefrontal cortex (PFC) regions during specific components (Encoding, Delay, Response) of a working memory task under different memory-load conditions. In a group analysis, effects of increased memory load were observed only in dorsal PFC in the encoding period. Activity was lateralized to the right hemisphere in the high but not the low memory-load condition. Individual analyses revealed variability in activation patterns across subjects. Regression analyses indicated that one source of variability was subjects' memory retrieval rate. It was observed that dorsal PFC plays a differentially greater role in information retrieval for slower subjects, possibly because of inefficient retrieval processes or a reduced quality of mnemonic representations. This study supports the idea that dorsal and ventral PFC play different roles in component processes of working memory.",
"title": ""
},
{
"docid": "d9f3bde9417e1206a740c55521fb66a6",
"text": "All firms aim at high performance which leads to high profits and sustainable competitive advantage. However all firms face a challenge on how to create sustainable competitive advantage especially on the rapid changing environment. This conceptual study paper hence looks at the dynamic capabilities which have been identified to assist firms in creating and sustaining competitiveness in the ever changing environment. Specifically the paper looks at the nature of the sensing, seizing, transforming and managerial dynamic capabilities and how their interconnection influence firm performance. The study is anchored on the dynamic capability theory. The main objectives of the study are to understand how interconnectivity of various clusters of dynamic capabilities influences firm performance. The paper also looks at the role of dynamism in talent development. This conceptual study paper looks at the paradigm shifts in the area of sustainable competitive advantage from resource based view, knowledge based view and dynamic capability view. The paper identifies a number of knowledge and research gaps in relation to performance by reviewing previous scholarly work in the study area. A conceptual model attempting to address the identified gaps is development and highlights the relationship among various clusters of dynamic capabilities and their influence to each other and to performance. The study views dynamic capabilities as an emerging paradigm of the modern business firm that propels sustainable high performance in rapidly changing environment.",
"title": ""
},
{
"docid": "100ab34e96da2b8640bd97467e9c91e1",
"text": "Manual work is taken over the robot technology and many of the related robot appliances are being used extensively also. Here represents the technology that proposed the working of robot for Floor cleaning. This floor cleaner robot can work in any of two modes i.e. “Automatic and Manual”. All hardware and software operations are controlled by AT89S52 microcontroller. This robot can perform sweeping and mopping task. RF modules have been used for wireless communication between remote (manual mode) and robot and having range 50m. This robot is incorporated with IR sensor for obstacle detection and automatic water sprayer pump. Four motors are used, two for cleaning, one for water pump and one for wheels. Dual relay circuit used to drive the motors one for water pump and another for cleaner. In previous work, there was no automatic water sprayer used and works only in automatic mode. In the automatic mode robot control all the operations itself and change the lane in case of hurdle detection and moves back. In the manual mode, the keypad is used to perform the expected task and to operate robot. In manual mode, RF module has been used to transmit and receive the information between remote and robot and display the information related to the hurdle detection on LCD. The whole circuitry is connected with 12V battery.",
"title": ""
},
{
"docid": "26bfd47822fba812108694e7b86d1077",
"text": "Automatic video analysis from urban surveillance cameras is a fast-emerging field based on computer vision techniques. We present here a comprehensive review of the state-of-the-art computer vision for traffic video with a critical analysis and an outlook to future research directions. This field is of increasing relevance for intelligent transport systems (ITSs). The decreasing hardware cost and, therefore, the increasing deployment of cameras have opened a wide application field for video analytics. Several monitoring objectives such as congestion, traffic rule violation, and vehicle interaction can be targeted using cameras that were typically originally installed for human operators. Systems for the detection and classification of vehicles on highways have successfully been using classical visual surveillance techniques such as background estimation and motion tracking for some time. The urban domain is more challenging with respect to traffic density, lower camera angles that lead to a high degree of occlusion, and the variety of road users. Methods from object categorization and 3-D modeling have inspired more advanced techniques to tackle these challenges. There is no commonly used data set or benchmark challenge, which makes the direct comparison of the proposed algorithms difficult. In addition, evaluation under challenging weather conditions (e.g., rain, fog, and darkness) would be desirable but is rarely performed. Future work should be directed toward robust combined detectors and classifiers for all road users, with a focus on realistic conditions during evaluation.",
"title": ""
},
{
"docid": "44faf0dd15da256cdbf5bf58e1b5a775",
"text": "We describe a practical path-planning algorithm that generates smooth paths for an autonomous vehicle operating in an unknown environment, where obstacles are detected online by the robot’s sensors. This work was motivated by and experimentally validated in the 2007 DARPA Urban Challenge, where robotic vehicles had to autonomously navigate parking lots. Our approach has two main steps. The first step uses a variant of the well-known A* search algorithm, applied to the 3D kinematic state space of the vehicle, but with a modified state-update rule that captures the continuous state of the vehicle in the discrete nodes of A* (thus guaranteeing kinematic feasibility of the path). The second step then improves the quality of the solution via numeric non-linear optimization, leading to a local (and frequently global) optimum. The path-planning algorithm described in this paper was used by the Stanford Racing Teams robot, Junior, in the Urban Challenge. Junior demonstrated flawless performance in complex general path-planning tasks such as navigating parking lots and executing U-turns on blocked roads, with typical fullcycle replaning times of 50–300ms. Introduction and Related Work We address the problem of path planning for an autonomous vehicle operating in an unknown environment. We assume the robot has adequate sensing and localization capability and must replan online while incrementally building an obstacle map. This scenario was motivated, in part, by the DARPA Urban Challenge, in which vehicles had to freely navigate parking lots. The path-planning algorithm described below was used by the Stanford Racing Team’s robot, Junior in the Urban Challenge (DARPA 2007). Junior (Figure 1) demonstrated flawless performance in complex general path-planning tasks—many involving driving in reverse—such as navigating parking lots, executing Uturns, and dealing with blocked roads and intersections with typical full-cycle replanning times of 50–300ms on a modern PC. One of the main challenges in developing a practical path planner for free navigation zones arises from the fact that the space of all robot controls—and hence trajectories—is continuous, leading to a complex continuous-variable optimization landscape. Much of prior work on search algorithms for Copyright c © 2008, American Association for Artificial Intelligence (www.aaai.org). All rights reserved. Figure 1: Junior, our entry in the DARPA Urban Challenge, was used in all experiments. Junior is equipped with several LIDAR and RADAR units, and a high-accuracy inertial measurement system. path planning (Ersson and Hu 2001; Koenig and Likhachev 2002; Ferguson and Stentz 2005; Nash et al. 2007) yields fast algorithms for discrete state spaces, but those algorithms tend to produce paths that are non-smooth and do not generally satisfy the non-holonomic constraints of the vehicle. An alternative approach that guarantees kinematic feasibility is forward search in continuous coordinates, e.g., using rapidly exploring random trees (RRTs) (Kavraki et al. 1996; LaValle 1998; Plaku, Kavraki, and Vardi 2007). The key to making such continuous search algorithms practical for online implementations lies in an efficient guiding heuristic. Another approach is to directly formulate the path-planning problem as a non-linear optimization problem in the space of controls or parametrized curves (Cremean et al. 2006), but in practice guaranteeing fast convergence of such programs is difficult due to local minima. Our algorithm builds on the existing work discussed above, and consists of two main phases. The first step uses a heuristic search in continuous coordinates that guarantees kinematic feasibility of computed trajectories. While lacking theoretical optimality guarantees, in practice this first",
"title": ""
},
{
"docid": "b5b3f504b03940b36858d1bf6151a9e7",
"text": "Dynamic Bayesian Networks: Representation, Inference and Learning by Kevin Patrick Murphy Doctor of Philosophy in Computer Science University of California, Berkeley Professor Stuart Russell, Chair Modelling sequential data is important in many areas of science and engineering. Hidden Markov models (HMMs) and Kalman filter models (KFMs) are popular for this because they are simple and flexible. For example, HMMs have been used for speech recognition and bio-sequence analysis, and KFMs have been used for problems ranging from tracking planes and missiles to predicting the economy. However, HMMs and KFMs are limited in their “expressive power”. Dynamic Bayesian Networks (DBNs) generalize HMMs by allowing the state space to be represented in factored form, instead of as a single discrete random variable. DBNs generalize KFMs by allowing arbitrary probability distributions, not just (unimodal) linear-Gaussian. In this thesis, I will discuss how to represent many different kinds of models as DBNs, how to perform exact and approximate inference in DBNs, and how to learn DBN models from sequential data. In particular, the main novel technical contributions of this thesis are as follows: a way of representing Hierarchical HMMs as DBNs, which enables inference to be done in O(T ) time instead of O(T ), where T is the length of the sequence; an exact smoothing algorithm that takes O(log T ) space instead of O(T ); a simple way of using the junction tree algorithm for online inference in DBNs; new complexity bounds on exact online inference in DBNs; a new deterministic approximate inference algorithm called factored frontier; an analysis of the relationship between the BK algorithm and loopy belief propagation; a way of applying Rao-Blackwellised particle filtering to DBNs in general, and the SLAM (simultaneous localization and mapping) problem in particular; a way of extending the structural EM algorithm to DBNs; and a variety of different applications of DBNs. However, perhaps the main value of the thesis is its catholic presentation of the field of sequential data modelling.",
"title": ""
},
{
"docid": "c2baa873bc2850b14b3868cdd164019f",
"text": "It is expensive to obtain labeled real-world visual data for use in training of supervised algorithms. Therefore, it is valuable to leverage existing databases of labeled data. However, the data in the source databases is often obtained under conditions that differ from those in the new task. Transfer learning provides techniques for transferring learned knowledge from a source domain to a target domain by finding a mapping between them. In this paper, we discuss a method for projecting both source and target data to a generalized subspace where each target sample can be represented by some combination of source samples. By employing a low-rank constraint during this transfer, the structure of source and target domains are preserved. This approach has three benefits. First, good alignment between the domains is ensured through the use of only relevant data in some subspace of the source domain in reconstructing the data in the target domain. Second, the discriminative power of the source domain is naturally passed on to the target domain. Third, noisy information will be filtered out during knowledge transfer. Extensive experiments on synthetic data, and important computer vision problems such as face recognition application and visual domain adaptation for object recognition demonstrate the superiority of the proposed approach over the existing, well-established methods.",
"title": ""
},
{
"docid": "3fe09244c12dc7ce92bdd0fd96380cec",
"text": "A novel switching dc-to-dc converter is presented, which has the same general conversion property (increase or decrease of the input dc voltage) as does the conventional buck-boost converter, and which offers through its new optimum topology higher efficiency, lower output voltage ripple, reduced EMI, smaller size and weight, and excellent dynamics response. One of its most significant advantages is that both input and output current are not pulsating but are continuous (essentially dc with small superimposed switching current ripple), this resulting in a close approximation to the ideal physically nonrealizable dc-to-dc transformer. The converter retains the simplest possible structure with the minimum number of components which, when interconnected in its optimum topology, yield the maximum performance. The new converter is extensively experimentally verified, and both the steady state (dc) and the dynamic (ac) theoretical model are correlated well with theexperimental data. both theoretical and experimental comparisons with the conventional buck-boost converter, to which an input filter has been added, demonstrate the significant advantages of the new optimum topology switching dc-to-dc converter.",
"title": ""
},
{
"docid": "25389fbfbefcbfb3506b6674b70e3d89",
"text": "This paper argues that a new class of geographically distributed network services is emerging, and that the most effective way to design, evaluate, and deploy these services is by using an overlay-based testbed. Unlike conventional network testbeds, however, we advocate an approach that supports both researchers that want to develop new services, and clients that want to use them. This dual use, in turn, suggests four design principles that are not widely supported in existing testbeds: services should be able to run continuously and access a slice of the overlay's resources, control over resources should be distributed, overlay management services should be unbundled and run in their own slices, and APIs should be designed to promote application development. We believe a testbed that supports these design principles will facilitate the emergence of a new service-oriented network architecture. Towards this end, the paper also briefly describes PlanetLab, an overlay network being designed with these four principles in mind.",
"title": ""
},
{
"docid": "ad4596e24f157653a36201767d4b4f3b",
"text": "We present a character-based model for joint segmentation and POS tagging for Chinese. The bidirectional RNN-CRF architecture for general sequence tagging is adapted and applied with novel vector representations of Chinese characters that capture rich contextual information and lower-than-character level features. The proposed model is extensively evaluated and compared with a state-of-the-art tagger respectively on CTB5, CTB9 and UD Chinese. The experimental results indicate that our model is accurate and robust across datasets in different sizes, genres and annotation schemes. We obtain stateof-the-art performance on CTB5, achieving 94.38 F1-score for joint segmentation and POS tagging.",
"title": ""
}
] | scidocsrr |
10d3a475508a44a81471f6cd1abaa8a6 | Guided data repair | [
{
"docid": "14682892d663cb1d351f54f3534c44b2",
"text": "Feel lonely? What about reading books? Book is one of the greatest friends to accompany while in your lonely time. When you have no friends and activities somewhere and sometimes, reading book can be a great choice. This is not only for spending the time, it will increase the knowledge. Of course the b=benefits to take will relate to what kind of book that you are reading. And now, we will concern you to try reading data quality concepts methodologies and techniques as one of the reading material to finish quickly.",
"title": ""
}
] | [
{
"docid": "9824a6ec0809cefdec77a52170670d17",
"text": "The use of planar fluidic devices for performing small-volume chemistry was first proposed by analytical chemists, who coined the term “miniaturized total chemical analysis systems” ( TAS) for this concept. More recently, the TAS field has begun to encompass other areas of chemistry and biology. To reflect this expanded scope, the broader terms “microfluidics” and “lab-on-a-chip” are now often used in addition to TAS. Most microfluidics researchers rely on micromachining technologies at least to some extent to produce microflow systems based on interconnected micrometer-dimensioned channels. As members of the microelectromechanical systems (MEMS) community know, however, one can do more with these techniques. It is possible to impart higher levels of functionality by making features in different materials and at different levels within a microfluidic device. Increasingly, researchers have considered how to integrate electrical or electrochemical function into chips for purposes as diverse as heating, temperature sensing, electrochemical detection, and pumping. MEMS processes applied to new materials have also resulted in new approaches for fabrication of microchannels. This review paper explores these and other developments that have emerged from the increasing interaction between the MEMS and microfluidics worlds.",
"title": ""
},
{
"docid": "24c1b31bac3688c901c9b56ef9a331da",
"text": "Advanced Persistent Threats (APTs) are a new breed of internet based smart threats, which can go undetected with the existing state of-the-art internet traffic monitoring and protection systems. With the evolution of internet and cloud computing, a new generation of smart APT attacks has also evolved and signature based threat detection systems are proving to be futile and insufficient. One of the essential strategies in detecting APTs is to continuously monitor and analyze various features of a TCP/IP connection, such as the number of transferred packets, the total count of the bytes exchanged, the duration of the TCP/IP connections, and details of the number of packet flows. The current threat detection approaches make extensive use of machine learning algorithms that utilize statistical and behavioral knowledge of the traffic. However, the performance of these algorithms is far from satisfactory in terms of reducing false negatives and false positives simultaneously. Mostly, current algorithms focus on reducing false positives, only. This paper presents a fractal based anomaly classification mechanism, with the goal of reducing both false positives and false negatives, simultaneously. A comparison of the proposed fractal based method with a traditional Euclidean based machine learning algorithm (k-NN) shows that the proposed method significantly outperforms the traditional approach by reducing false positive and false negative rates, simultaneously, while improving the overall classification rates.",
"title": ""
},
{
"docid": "e425bba0f3ab24c226ab8881f3fe0780",
"text": "We present a new method for solving total variation (TV) minimization problems in image restoration. The main idea is to remove some of the singularity caused by the nondifferentiability of the quantity |∇u| in the definition of the TV-norm before we apply a linearization technique such as Newton’s method. This is accomplished by introducing an additional variable for the flux quantity appearing in the gradient of the objective function, which can be interpreted as the normal vector to the level sets of the image u. Our method can be viewed as a primal-dual method as proposed by Conn and Overton [A Primal-Dual Interior Point Method for Minimizing a Sum of Euclidean Norms, preprint, 1994] and Andersen [Ph.D. thesis, Odense University, Denmark, 1995] for the minimization of a sum of Euclidean norms. In addition to possessing local quadratic convergence, experimental results show that the new method seems to be globally convergent.",
"title": ""
},
{
"docid": "f5f70dca677752bcaa39db59988c088e",
"text": "To examine how inclusive our schools are after 25 years of educational reform, students with disabilities and their parents were asked to identify current barriers and provide suggestions for removing those barriers. Based on a series of focus group meetings, 15 students with mobility limitations (9-15 years) and 12 parents identified four categories of barriers at their schools: (a) the physical environment (e.g., narrow doorways, ramps); (b) intentional attitudinal barriers (e.g., isolation, bullying); (c) unintentional attitudinal barriers (e.g., lack of knowledge, understanding, or awareness); and (d) physical limitations (e.g., difficulty with manual dexterity). Recommendations for promoting accessibility and full participation are provided and discussed in relation to inclusive education efforts. Exceptional Children",
"title": ""
},
{
"docid": "2e5981a41d13ee2d588ee0e9fe04e1ec",
"text": "Malicious software (malware) has been extensively employed for illegal purposes and thousands of new samples are discovered every day. The ability to classify samples with similar characteristics into families makes possible to create mitigation strategies that work for a whole class of programs. In this paper, we present a malware family classification approach using VGG16 deep neural network’s bottleneck features. Malware samples are represented as byteplot grayscale images and the convolutional layers of a VGG16 deep neural network pre-trained on the ImageNet dataset is used for bottleneck features extraction. These features are used to train a SVM classifier for the malware family classification task. The experimental results on a dataset comprising 10,136 samples from 20 different families showed that our approach can effectively be used to classify malware families with an accuracy of 92.97%, outperforming similar approaches proposed in the literature which require feature engineering and considerable domain expertise.",
"title": ""
},
{
"docid": "9407bdf78114e1369e6cc90283fbe892",
"text": "Making machines understand human expressions enables various useful applications in human-machine interaction. In this article, we present a novel facial expression recognition approach with 3D Mesh Convolutional Neural Networks (3DMCNN) and a visual analytics-guided 3DMCNN design and optimization scheme. From an RGBD camera, we first reconstruct a 3D face model of a subject with facial expressions and then compute the geometric properties of the surface. Instead of using regular Convolutional Neural Networks (CNNs) to learn intensities of the facial images, we convolve the geometric properties on the surface of the 3D model using 3DMCNN. We design a geodesic distance-based convolution method to overcome the difficulties raised from the irregular sampling of the face surface mesh. We further present interactive visual analytics for the purpose of designing and modifying the networks to analyze the learned features and cluster similar nodes in 3DMCNN. By removing low-activity nodes in the network, the performance of the network is greatly improved. We compare our method with the regular CNN-based method by interactively visualizing each layer of the networks and analyze the effectiveness of our method by studying representative cases. Testing on public datasets, our method achieves a higher recognition accuracy than traditional image-based CNN and other 3D CNNs. The proposed framework, including 3DMCNN and interactive visual analytics of the CNN, can be extended to other applications.",
"title": ""
},
{
"docid": "d8cd01ef5f39035b26124544c2e5c5aa",
"text": "Framing protocols employ cyclic redundancy check (CRC) to detect errors incurred during transmission. Generally whole frame is protected using CRC and upon detection of error, retransmission is requested. But certain protocols demand for single bit error correction capabilities for the header part of the frame, which often plays an important role in receiver synchronization. At a speed of 10 Gbps, header error correction implementation in hardware can be a bottleneck. This work presents a hardware efficient way of implementing CRC-16 over 16 bits of data, multiple bit error detection and single bit error correction on FPGA device.",
"title": ""
},
{
"docid": "82f8bfc9bb01105ccab46005d3df18d7",
"text": "This paper presents a comparative study of different classification methodologies for the task of fine-art genre classification. 2-level comparative study is performed for this classification problem. 1st level reviews the performance of discriminative vs. generative models while 2nd level touches the features aspect of the paintings and compares semantic-level features vs low-level and intermediate level features present in the painting.",
"title": ""
},
{
"docid": "0d22b9e723d95c1f86a5c2795f3dbd42",
"text": "Cancer is a class of diseases characterized by out-of-control cell growth. There are over 200 different types of cancer, and each is classified by the type of cell that is initially affected. This paper discusses the technical aspects of some of the ontology-based medical systems for cancer diseases. It also proposes an ontology based system for cancer diseases knowledge management. The system can be used to help patients, students and physicians to decide what cancer type the patient has, what is the stage of the cancer and how it can be treated. The system performance and accuracy are acceptable, with a cancer diseases classification accuracy of 92%.",
"title": ""
},
{
"docid": "84a187b1e5331c4e7eb349c8b1358f14",
"text": "We describe the maximum-likelihood parameter estimation problem and how the ExpectationMaximization (EM) algorithm can be used for its solution. We first describe the abstract form of the EM algorithm as it is often given in the literature. We then develop the EM parameter estimation procedure for two applications: 1) finding the parameters of a mixture of Gaussian densities, and 2) finding the parameters of a hidden Markov model (HMM) (i.e., the Baum-Welch algorithm) for both discrete and Gaussian mixture observation models. We derive the update equations in fairly explicit detail but we do not prove any convergence properties. We try to emphasize intuition rather than mathematical rigor.",
"title": ""
},
{
"docid": "198311a68ad3b9ee8020b91d0b029a3c",
"text": "Online multi-object tracking aims at producing complete tracks of multiple objects using the information accumulated up to the present moment. It still remains a difficult problem in complex scenes, because of frequent occlusion by clutter or other objects, similar appearances of different objects, and other factors. In this paper, we propose a robust online multi-object tracking method that can handle these difficulties effectively. We first propose the tracklet confidence using the detectability and continuity of a tracklet, and formulate a multi-object tracking problem based on the tracklet confidence. The multi-object tracking problem is then solved by associating tracklets in different ways according to their confidence values. Based on this strategy, tracklets sequentially grow with online-provided detections, and fragmented tracklets are linked up with others without any iterative and expensive associations. Here, for reliable association between tracklets and detections, we also propose a novel online learning method using an incremental linear discriminant analysis for discriminating the appearances of objects. By exploiting the proposed learning method, tracklet association can be successfully achieved even under severe occlusion. Experiments with challenging public datasets show distinct performance improvement over other batch and online tracking methods.",
"title": ""
},
{
"docid": "a6ff0eb31f2beb3fb7d8d731ca96da03",
"text": "The paper analyses the entry strategies of software firms that adopt the Open Source production model. A new definition of business model is proposed. Empirical evidence, based on an exploratory survey taken on 146 Italian software firms, shows that firms adapted to an environment dominated by incumbent standards by combining Open Source and proprietary software. The paper examines the determinants of business models and discusses the stability of hybrid models in the evolution of the industry.",
"title": ""
},
{
"docid": "41eec7ed2d93fb415dfd197933975028",
"text": "Open Information Extraction (OIE) is a recent unsupervised strategy to extract great amounts of basic propositions (verb-based triples) from massive text corpora which scales to Web-size document collections. We propose a multilingual rule-based OIE method that takes as input dependency parses in the CoNLL-X format, identifies argument structures within the dependency parses, and extracts a set of basic propositions from each argument structure. Our method requires no training data and, according to experimental studies, obtains higher recall and higher precision than existing approaches relying on training data. Experiments were performed in three languages: English, Portuguese, and Spanish.",
"title": ""
},
{
"docid": "597c3e1762b0eb8558b72963f25d4b27",
"text": "Animals are widespread in nature and the analysis of their shape and motion is important in many fields and industries. Modeling 3D animal shape, however, is difficult because the 3D scanning methods used to capture human shape are not applicable to wild animals or natural settings. Consequently, we propose a method to capture the detailed 3D shape of animals from images alone. The articulated and deformable nature of animals makes this problem extremely challenging, particularly in unconstrained environments with moving and uncalibrated cameras. To make this possible, we use a strong prior model of articulated animal shape that we fit to the image data. We then deform the animal shape in a canonical reference pose such that it matches image evidence when articulated and projected into multiple images. Our method extracts significantly more 3D shape detail than previous methods and is able to model new species, including the shape of an extinct animal, using only a few video frames. Additionally, the projected 3D shapes are accurate enough to facilitate the extraction of a realistic texture map from multiple frames.",
"title": ""
},
{
"docid": "d34d8dd7ba59741bb5e28bba3e870ac4",
"text": "Among those who have recently lost a job, social networks in general and online ones in particular may be useful to cope with stress and find new employment. This study focuses on the psychological and practical consequences of Facebook use following job loss. By pairing longitudinal surveys of Facebook users with logs of their online behavior, we examine how communication with different kinds of ties predicts improvements in stress, social support, bridging social capital, and whether they find new jobs. Losing a job is associated with increases in stress, while talking with strong ties is generally associated with improvements in stress and social support. Weak ties do not provide these benefits. Bridging social capital comes from both strong and weak ties. Surprisingly, individuals who have lost a job feel greater stress after talking with strong ties. Contrary to the \"strength of weak ties\" hypothesis, communication with strong ties is more predictive of finding employment within three months.",
"title": ""
},
{
"docid": "c233f33b91ef819f17fd3acc372e65a2",
"text": "A novel compact CPW-fed slot antenna for quadband operation is proposed. The antenna is printed on a 25 × 20 mm2 FR4 substrate with thickness of 1.6 mm and relative permittivity of 4.6. Three L-shaped slots and a rectangular slot are fabricated on the substrate to achieve quadband operation of 2.07-2.77, 3.3-3.8, 5.15-5.35, and 5.7-5.89 GHz. As the four resonant frequencies of antenna are excited by certain parts of the patch respectively, one resonant frequency can be flexibly tuned with little effect on the other. Experimental results demonstrate the good broadside radiation patterns for the four bands and suggest that the proposed antenna is suitable for the M-WiMAX and WLAN applications.",
"title": ""
},
{
"docid": "e9ba4e76a3232e25233a4f5fe206e8ba",
"text": "Systems code is often written in low-level languages like C/C++, which offer many benefits but also delegate memory management to programmers. This invites memory safety bugs that attackers can exploit to divert control flow and compromise the system. Deployed defense mechanisms (e.g., ASLR, DEP) are incomplete, and stronger defense mechanisms (e.g., CFI) often have high overhead and limited guarantees [19, 15, 9]. We introduce code-pointer integrity (CPI), a new design point that guarantees the integrity of all code pointers in a program (e.g., function pointers, saved return addresses) and thereby prevents all control-flow hijack attacks, including return-oriented programming. We also introduce code-pointer separation (CPS), a relaxation of CPI with better performance properties. CPI and CPS offer substantially better security-to-overhead ratios than the state of the art, they are practical (we protect a complete FreeBSD system and over 100 packages like apache and postgresql), effective (prevent all attacks in the RIPE benchmark), and efficient: on SPEC CPU2006, CPS averages 1.2% overhead for C and 1.9% for C/C++, while CPI’s overhead is 2.9% for C and 8.4% for C/C++. A prototype implementation of CPI and CPS can be obtained from http://levee.epfl.ch.",
"title": ""
},
{
"docid": "f908e519847fcbf777c5040160435451",
"text": "In this paper the branching time logic pCTL is deened. pCTL expresses quantitative bounds on the probabilities of correct behavior ; it can be interpreted over discrete Markov processes. A bisim-ulation relation is deened on nite Markov processes, and shown to be sound and complete with respect to pCTL. We extend the universe of models to generalized Markov processes in order to support notions of re-nement, abstraction, and parametrization. Model checking pCTL over generalized Markov processes is shown to be elementary by a reduction to RCF. We conclude by describing practical and theoretical avenues for further work.",
"title": ""
},
{
"docid": "cf6c6676844ae0068527b03fe419ed82",
"text": "We establish rates of convergences in statistical learning for time series forecasting. Using the PAC-Bayesian approach, slow rates of convergence √ d/n for the Gibbs estimator under the absolute loss were given in a previous work [7], where n is the sample size and d the dimension of the set of predictors. Under the same weak dependence conditions, we extend this result to any convex Lipschitz loss function. We also identify a condition on the parameter space that ensures similar rates for the classical penalized ERM procedure. We apply this method for quantile forecasting of the French GDP. Under additional conditions on the loss functions (satisfied by the quadratic loss function) and for uniformly mixing processes, we prove that the Gibbs estimator actually achieves fast rates of convergence d/n. We discuss the optimality of these different rates pointing out references to lower bounds when they are available. In particular, these results bring a generalization the results of [29] on sparse regression estimation to some autoregression.",
"title": ""
},
{
"docid": "2b0969dd0089bd2a2054957477ea4ce1",
"text": "A self-signaling action is an action chosen partly to secure good news about one’s traits or abilities, even when the action has no causal impact on these traits and abilities. We discuss some of the odd things that happen when self-signaling is introduced into an otherwise rational conception of action. We employ a signaling game perspective in which the diagnostic signals are an endogenous part of the equilibrium choice. We are interested (1) in pure self-signaling, separate from any desire to be regarded well by others, and (2) purely diagnostic motivation, that is, caring about what an action might reveal about a trait even when that action has no causal impact on it. When diagnostic motivation is strong, the person’s actions exhibit a rigidity characteristic of personal rules. Our model also predicts that a boost in self-image positively affects actions even though it leaves true preferences unchanged — we call this a “moral placebo effect.” 1 The chapter draws on (co-authored) Chapter 3 of Bodner’s doctoral dissertation (Bodner, 1995) and an unpublished MIT working paper (Bodner and Prelec, 1997). The authors thank Bodner’s dissertation advisors France Leclerc and Richard Thaler, workshop discussants Thomas Schelling, Russell Winer, and Mathias Dewatripont, and George Ainslie, Michael Bratman, Juan Carillo, Itzakh Gilboa, George Loewenstein, Al Mela, Matthew Rabin, Duncan Simester and Florian Zettelmeyer for comments on these ideas (with the usual disclaimer). We are grateful to Birger Wernerfelt for drawing attention to Bernheim's work on social conformity. Author addresses: Bodner – Director, Learning Innovations, 13\\4 Shimshon St., Jerusalem, 93501, Israel, learning@netvision.net.il; Prelec — E56-320, MIT, Sloan School, 38 Memorial Drive, Cambridge, MA 02139, dprelec@mit.edu. 1 Psychological evidence When we make a choice we reveal something of our inner traits or dispositions, not only to others, but also to ourselves. After the fact, this can be a source of pleasure or pain, depending on whether we were impressed or disappointed by our actions. Before the fact, the anticipation of future pride or remorse can influence what we choose to do. In a previous paper (Bodner and Prelec, 1997), we described how the model of a utility maximizing individual could be expanded to include diagnostic utility as a separate motive for action. We review the basic elements of that proposal here. The inspiration comes directly from signaling games in which actions of one person provide an informative signal to others, which in turn affects esteem (Bernheim, 1994). Here, however, actions provide a signal to ourselves, that is, actions are selfsignaling. For example, a person who takes the daily jog in spite of the rain may see that as a gratifying signal of willpower, dedication, or future well being. For someone uncertain about where he or she stands with respect to these dispositions, each new choice can provide a bit of good or bad \"news.” We incorporate the value of such \"news\" into the person's utility function. The notion that a person may draw inferences from an action he enacted partially in order to gain that inference has been posed as a philosophical paradox (e.g. Campbell and Sawden, 1985; Elster, 1985, 1989). A key problem is the following: Suppose that the disposition in question is altruism, and a person interprets a 25¢ donation to a panhandler as evidence of altruism. If the boost in self-esteem makes it worth giving the quarter even when there is no concern for the poor, than clearly, such a donation is not valid evidence of altruism. Logically, giving is valid evidence of high altruism only if a person with low altruism would not have given the quarter. This reasoning motivates our equilibrium approach, in which inferences from actions are an endogenous part of the equilibrium choice. As an empirical matter several studies have demonstrated that diagnostic considerations do indeed affect behavior (Quattrone and Tversky, 1984; Shafir and Tversky, 1992; Bodner, 1995). An elegant experiment by Quattrone and Tversky (1984) both defines the self-signaling phenomenon and demonstrates its existence. Quattrone and Tversky first asked each subject to take a cold pressor pain test in which the subject's arm is submerged in a container of cold water until the subject can no longer tolerate the pain. Subsequently the subject was told that recent medical studies had discovered a certain inborn heart condition, and that people with this condition are “frequently ill, prone to heart-disease, and have shorter-than-average life expectancy.” Subjects were also told that this type could be identified by the effect of exercise on the cold pressor test. Subjects were randomly assigned to one of two conditions in which they were told that the bad type of heart was associated with either increases or with decreases in tolerance to the cold water after exercise. Subjects then repeated the cold pressor test, after riding an Exercycle for one minute. As predicted, the vast majority of subjects showed changes in tolerance on the second cold pressor trial in the direction correlated of “good news”—if told that decreased tolerance is diagnostic of a bad heart they endured the near-freezing water longer (and vice versa). The result shows that people are willing to bear painful consequences for a behavior that is a signal, though not a cause, of a medical diagnosis. An experiment by Shafir and Tversky (1992) on \"Newcomb's paradox\" reinforces the same point. In the philosophical version of the paradox, a person is (hypothetically) presented with two boxes, A and B. Box A contains either nothing or some large amount of money deposited by an \"omniscient being.\" Box B contains a small amount of money for sure. The decision-maker doesn’t know what Box A contains choice, and has to choose whether to take the contents of that box (A) or of both boxes (A+B). What makes the problem a paradox is that the person is asked to believe that the omniscient being has already predicted her choice, and on that basis has already either \"punished\" a greedy choice of (A+B) with no deposit in A or \"rewarded\" a choice of (A) with a large deposit. The dominance principle argues in favor of choosing both boxes, because the deposits are fixed at the moment of choice. This is the philosophical statement of the problem. In the actual experiment, Shafir and Tversky presented a variant of Newcomb’s problem at the end of another, longer experiment, in which subjects repeatedly played a Prisoner’s Dilemma game against (virtual) opponents via computer terminals. After finishing these games, a final “bonus” problem appeared, with the two Newcomb boxes, and subjects had to choose whether to take money from one box or from both boxes. The experimental cover story did not mention an omniscient being but instead informed the subjects that \"a program developed at MIT recently was applied during the entire session [of Prisoner’s Dilemma choices] to analyze the pattern of your preference.” Ostensibly, this mighty program could predict choices, one or two boxes, with 85% accuracy, and, of course, if the program predicted a choice of both boxes it would then put nothing in Box A. Although it was evident that the money amounts were already set at the moment of choice, most experimental subjects opted for the single box. It is “as if” they believed that by declining to take the money in Box B, they could change the amount of money already deposited in box A. Although these are relatively recent experiments, their results are consistent with a long stream of psychological research, going back at least to the James-Lange theory of emotions which claimed that people infer their own states from behavior (e.g., they feel afraid if they see themselves running). The notion that people adopt the perspective of an outside observer when interpreting their own actions has been extensively explored in the research on self-perception (Bem, 1972). In a similar vein, there is an extensive literature confirming the existence of “self-handicapping” strategies, where a person might get too little sleep or under-prepare for an examination. In such a case, a successful performance could be attributed to ability while unsuccessful performance could be externalized as due to the lack of proper preparation (e.g. Berglas and Jones, 1978; Berglas and Baumeister, 1993). This broader context of psychological research suggests that we should view the results of Quattrone and Tversky, and Shafir and Tversky not as mere curiosities, applying to only contrived experimental situations, but instead as evidence of a general motivational “short circuit.” Motivation does not require causality, even when the lack of causality is utterly transparent. If anything, these experiments probably underestimate the impact of diagnosticity in realistic decisions, where the absence of causal links between actions and dispositions is less evident. Formally, our model distinguishes between outcome utility — the utility of the anticipated causal consequences of choice — and diagnostic utility — the value of the adjusted estimate of one’s disposition, adjusted in light of the choice. Individuals act so as to maximize some combination of the two sources of utility, and (in one version of the model) make correct inferences about what their choices imply about their dispositions. When diagnostic utility is sufficiently important, the individual chooses the same action independent of disposition. We interpret this as a personal rule. We describe other ways in which the behavior of self-signaling individuals is qualitatively different from that of standard economic agents. First, a self-signaling person will be more likely to reveal discrepancies between resolutions and actions when resolutions pertain to actions that are contingent or delayed. Thus she might honestly commit to do some worthy action if the circumstances requiring t",
"title": ""
}
] | scidocsrr |
0782e2213393dd19382e91143f015b28 | Supporting data quality management in decision-making | [
{
"docid": "5caedb986844afcd40b5deb9ca8ba116",
"text": "We present here because it will be so easy for you to access the internet service. As in this new era, much technology is sophistically offered by connecting to the internet. No any problems to face, just for this day, you can really keep in mind that the book is the best book for you. We offer the best here to read. After deciding how your feeling will be, you can enjoy to visit the link and get the book.",
"title": ""
}
] | [
{
"docid": "8581de718d41373ee4250a300e675fb4",
"text": "It seems almost impossible to overstate the power of words; they literally have changed and will continue to change the course of world history. Perhaps the greatest tools we can give students for succeeding, not only in their education but more generally in life, is a large, rich vocabulary and the skills for using those words. Our ability to function in today’s complex social and economic worlds is mightily affected by our language skills and word knowledge. In addition to the vital importance of vocabulary for success in life, a large vocabulary is more specifically predictive and reflective of high levels of reading achievement. The Report of the National Reading Panel (2000), for example, concluded, “The importance of vocabulary knowledge has long been recognized in the development of reading skills. As early as 1924, researchers noted that growth in reading power relies on continuous growth in word knowledge” (pp. 4–15). Vocabulary or Vocabularies?",
"title": ""
},
{
"docid": "36b4c028bcd92115107cf245c1e005c8",
"text": "CAPTCHA is now almost a standard security technology, and has found widespread application in commercial websites. Usability and robustness are two fundamental issues with CAPTCHA, and they often interconnect with each other. This paper discusses usability issues that should be considered and addressed in the design of CAPTCHAs. Some of these issues are intuitive, but some others have subtle implications for robustness (or security). A simple but novel framework for examining CAPTCHA usability is also proposed.",
"title": ""
},
{
"docid": "44258b538f61434d66dbde7f989e9c82",
"text": "Studies in animals showed that stress results in damage to the hippocampus, a brain area involved in learning and memory, with associated memory deficits. The mechanism involves glucocorticoids and possibly serotonin acting through excitatory amino acids to mediate hippocampal atrophy. Patients with posttraumatic stress disorder (PTSD) from Vietnam combat and childhood abuse had deficits on neuropsychological measures that have been validated as probes of hippocampal function. In addition, magnetic resonance imaging (MRI) showed reduction in volume of the hippocampus in both combat veterans and victims of childhood abuse. In combat veterans, hippocampal volume reduction was correlated with deficits in verbal memory on neuropsychological testing. These studies introduce the possibility that experiences in the form of traumatic stressors can have long-term effects on the structure and function of the brain.",
"title": ""
},
{
"docid": "31f6eaae19d29b921c92c5fdfd6e279e",
"text": "We investigate the preemptive scheduling of periodic, real-time task systems on one processor. First, we show that when all parameters to the system are integers, we may assume without loss of generality that all preemptions occur at integer time values. We then assume, for the remainder of the paper, that all parameters are indeed integers. We then give, as our main lemma, both necessary and sufficient conditions for a task system to be feasible on one processor. Although these conditions cannot, in general, be tested efficiently (unless P=NP), they do allow us to give efficient algorithms for deciding feasibility on one processor for certain types of periodic task systems. For example, we give a pseudo-polynomial-time algorithm for synchronous systems whose densities are bounded by a fixed constant less than 1. This algorithm represents an exponential improvement over the previous best algorithm. We also give a polynomial-time algorithm for systems having a fixed number of distinct types of tasks. Furthermore, we are able to use our main lemma to show that the feasibility problem for task systems on one processor is co-NP-complete in the strong sence. In order to show this last result, we first show the Simultaneous Congruences Problem to be NP-complete in the strong sense. Both of these last two results answer questions that have been open for ten years. We conclude by showing that for incomplete task systems, that is, task systems in which the start times are not specified, the feasibility problem is ∑ 2 p -complete.",
"title": ""
},
{
"docid": "842d06943ac9ad55ef90d2a4a3c65ed4",
"text": "The abundance of memory corruption and disclosure vulnerabilities in kernel code necessitates the deployment of hardening techniques to prevent privilege escalation attacks. As more strict memory isolation mechanisms between the kernel and user space, like Intel's SMEP, become commonplace, attackers increasingly rely on code reuse techniques to exploit kernel vulnerabilities. Contrary to similar attacks in more restrictive settings, such as web browsers, in kernel exploitation, non-privileged local adversaries have great flexibility in abusing memory disclosure vulnerabilities to dynamically discover, or infer, the location of certain code snippets and construct code-reuse payloads. Recent studies have shown that the coupling of code diversification with the enforcement of a \"read XOR execute\" (R^X) memory safety policy is an effective defense against the exploitation of userland software, but so far this approach has not been applied for the protection of the kernel itself.\n In this paper, we fill this gap by presenting kR^X: a kernel hardening scheme based on execute-only memory and code diversification. We study a previously unexplored point in the design space, where a hypervisor or a super-privileged component is not required. Implemented mostly as a set of GCC plugins, kR^X is readily applicable to the x86-64 Linux kernel and can benefit from hardware support (e.g., MPX on modern Intel CPUs) to optimize performance. In full protection mode, kR^X incurs a low runtime overhead of 4.04%, which drops to 2.32% when MPX is available.",
"title": ""
},
{
"docid": "96f2e93e188046fa1d97cedc51b07808",
"text": "The development of next-generation electrical link technology to support 400Gb/s standards is underway [1-5]. Physical constraints paired to the small area available to dissipate heat, impose limits to the maximum number of serial interfaces and therefore their minimum speed. As such, aggregation of currently available 25Gb/s systems is not an option, and the migration path requires serial interfaces to operate at increased rates. According to CEI-56G and IEEE P802.3bs emerging standards, PAM-4 signaling paired to forward error correction (FEC) schemes is enabling several interconnect applications and low-loss profiles [1]. Since the amplitude of each eye is reduced by a factor of 3, while noise power is only halved, a high transmitter (TX) output amplitude is key to preserve high SNR. However, compared to NRZ, the design of a PAM-4 TX is challenged by tight linearity constraints, required to minimize the amplitude distortion among the 4 levels [1]. In principle, current-mode (CM) drivers can deliver a differential peak-to-peak swing up to 4/3(VDD-VOV), but they struggle to generate high-swing PAM-4 levels with the required linearity. This is confirmed by recently published CM PAM-4 drivers, showing limited output swings even with VDD raised to 1.5V [2-4]. Source-series terminated (SST) drivers naturally feature better linearity and represent a valid alternative, but the maximum differential peak-to-peak swing is bounded to VDD only. In [5], a dual-mode SST driver supporting NRZ/PAM-4 was presented, but without FFE for PAM-4 mode. In this paper, we present a PAM-4 transmitter leveraging a hybrid combination of SST and CM driver. The CM part enhances the output swing by 30% beyond the theoretical limit of a conventional SST implementation, while being calibrated to maintain the desired linearity level. A 5b 4-tap FIR filter, where equalization tuning can be controlled independently from output matching, is also embedded. The transmitter, implemented in 28nm CMOS FDSOI, incorporates a half-rate serializer, duty-cycle correction (DCC), ≫2kV HBM ESD diodes, and delivers a full swing of 1.3Vppd at 45Gb/s while drawing 120mA from a 1V supply. The power efficiency is ~2 times better than those compared in this paper.",
"title": ""
},
{
"docid": "a74fc2476ec43b07eccfe2be1c9ef2cb",
"text": "In this paper, a broadband high efficiency Class-AB balanced power amplifier (PA) is presented. The proposed PA offers a high efficiency of > 43% for a band of 400 MHz to 1.4 GHz. The broadband matching circuits were realized with microstrip-radial-stubs (MRS) on low loss Rogers 5880 substrate with 0.78 mm thickness and 2.2 dielectric constant. The input and output matching is better than −13 dB throughout the band. The PA delivers maximum output power of 41.5 dBm with a flat gain of 11.4–13.5 dB. Due to high gain, stability, efficiency, and broadband, the proposed PA is thus suitable for recent and upcoming wireless communication systems.",
"title": ""
},
{
"docid": "3fd8092faee792a316fb3d1d7c2b6244",
"text": "The complete dynamics model of a four-Mecanum-wheeled robot considering mass eccentricity and friction uncertainty is derived using the Lagrange’s equation. Then based on the dynamics model, a nonlinear stable adaptive control law is derived using the backstepping method via Lyapunov stability theory. In order to compensate for the model uncertainty, a nonlinear damping term is included in the control law, and the parameter update law with σ-modification is considered for the uncertainty estimation. Computer simulations are conducted to illustrate the suggested control approach.",
"title": ""
},
{
"docid": "defb837e866948e5e092ab64476d33b5",
"text": "Recent multicoil polarised pads called Double D pads (DDP) and Bipolar Pads (BPP) show excellent promise when used in lumped charging due to having single sided fields and high native Q factors. However, improvements to field leakage are desired to enable higher power transfer while keeping the leakage flux within ICNIRP levels. This paper proposes a method to reduce the leakage flux which a lumped inductive power transfer (IPT) system exhibits by modifying the ferrite structure of its pads. The DDP and BPP pads ferrite structures are both modified by extending them past the ends of the coils in each pad with the intention of attracting only magnetic flux generated by the primary pad not coupled onto the secondary pad. Simulated improved ferrite structures are validated through practical measurements.",
"title": ""
},
{
"docid": "5b7483a4dea12d8b07921c150ccc66ee",
"text": "OBJECTIVE\nWe reviewed the efficacy of occupational therapy-related interventions for adults with rheumatoid arthritis.\n\n\nMETHOD\nWe examined 51 Level I studies (19 physical activity, 32 psychoeducational) published 2000-2014 and identified from five databases. Interventions that focused solely on the upper or lower extremities were not included.\n\n\nRESULTS\nFindings related to key outcomes (activities of daily living, ability, pain, fatigue, depression, self-efficacy, disease symptoms) are presented. Strong evidence supports the use of aerobic exercise, resistive exercise, and aquatic therapy. Mixed to limited evidence supports dynamic exercise, Tai Chi, and yoga. Among the psychoeducation interventions, strong evidence supports the use of patient education, self-management, cognitive-behavioral approaches, multidisciplinary approaches, and joint protection, and limited or mixed evidence supports the use of assistive technology and emotional disclosure.\n\n\nCONCLUSION\nThe evidence supports interventions within the scope of occupational therapy practice for rheumatoid arthritis, but few interventions were occupation based.",
"title": ""
},
{
"docid": "f028a403190899f96fcd6d6f9efbd2f1",
"text": "It is aimed to design a X-band monopulse microstrip antenna array that can be used almost in all modern tracking radars and having superior properties in angle detection and angular accuracy than the classical ones. In order to create a monopulse antenna array, a rectangular microstrip antenna is designed and 16 of it gathered together using the nonlinear central feeding to suppress the side lobe level (SLL) of the antenna. The monopulse antenna is created by the combining 4 of these 4×4 array antennas with a microstrip comparator designed using four branch line coupler. Good agreement is noted between the simulation and measurement results.",
"title": ""
},
{
"docid": "1b777ff8e7c30c23e7cc827ec3aee0bc",
"text": "The task of 2-D articulated human pose estimation in natural images is extremely challenging due to the high level of variation in human appearance. These variations arise from different clothing, anatomy, imaging conditions and the large number of poses it is possible for a human body to take. Recent work has shown state-of-the-art results by partitioning the pose space and using strong nonlinear classifiers such that the pose dependence and multi-modal nature of body part appearance can be captured. We propose to extend these methods to handle much larger quantities of training data, an order of magnitude larger than current datasets, and show how to utilize Amazon Mechanical Turk and a latent annotation update scheme to achieve high quality annotations at low cost. We demonstrate a significant increase in pose estimation accuracy, while simultaneously reducing computational expense by a factor of 10, and contribute a dataset of 10,000 highly articulated poses.",
"title": ""
},
{
"docid": "b1ba519ffe5321d9ab92ebed8d9264bb",
"text": "OBJECTIVES\nThe purpose of this study was to establish reference charts of fetal biometric parameters measured by 2-dimensional sonography in a large Brazilian population.\n\n\nMETHODS\nA cross-sectional retrospective study was conducted including 31,476 low-risk singleton pregnancies between 18 and 38 weeks' gestation. The following fetal parameters were measured: biparietal diameter, head circumference, abdominal circumference, femur length, and estimated fetal weight. To assess the correlation between the fetal biometric parameters and gestational age, polynomial regression models were created, with adjustments made by the determination coefficient (R(2)).\n\n\nRESULTS\nThe means ± SDs of the biparietal diameter, head circumference, abdominal circumference, femur length, and estimated fetal weight measurements at 18 and 38 weeks were 4.2 ± 2.34 and 9.1 ± 4.0 cm, 15.3 ± 7.56 and 32.3 ± 11.75 cm, 13.3 ± 10.42 and 33.4 ± 20.06 cm, 2.8 ± 2.17 and 7.2 ± 3.58 cm, and 256.34 ± 34.03 and 3169.55 ± 416.93 g, respectively. Strong correlations were observed between all fetal biometric parameters and gestational age, best represented by second-degree equations, with R(2) values of 0.95, 0.96, 0.95, 0.95, and 0.95 for biparietal diameter, head circumference, abdominal circumference, femur length, and estimated fetal weight.\n\n\nCONCLUSIONS\nFetal biometric parameters were determined for a large Brazilian population, and they may serve as reference values in cases with a high risk of intrauterine growth disorders.",
"title": ""
},
{
"docid": "8bdbf6fc33bc0b2cb5911683c13912a0",
"text": "The breaking of solid objects, like glass or pottery, poses a complex problem for computer animation. We present our methods of using physical simulation to drive the animation of breaking objects. Breakage is obtaned in a three-dimensional flexible model as the limit of elastic behavior. This article describes three principal features of the model: a breakage model, a collision-detection/response scheme, and a geometric modeling method. We use networks of point masses connected by springs to represent physical objects that can bend and break. We present effecient collision-detection algorithms, appropriate for simulating the collisions between the various pieces that interact in breakage. The capability of modeling real objects is provided by a technique of building up composite structures from simple lattice models. We applied these methods to animate the breaking of a teapot and other dishware activities in the animationTipsy Turvy shown at Siggraph '89. Animation techniques that rely on physical simulation to control the motion of objects are discussed, and further topics for research are presented.",
"title": ""
},
{
"docid": "a8f8a3ff73b3cf0c6f415fb4008105a7",
"text": "A variety of ontologies are used to define and represent knowledge in many domains. Many ontological approaches have been successfully applied in the field of Requirements Engineering. In order to successfully harness the disparate ontologies, researchers have focused on various ontology merging techniques. However, no serious attempts have been made in the area of Requirements Elicitation where ontology merging has the potential to be quite effective in generating requirements specifications quickly through the means of reasoning based on combined ontologies. This paper attempts to define an approach needed to effectively combine ontologies to enhance the Requirements Elicitation process. A methodology is proposed whereby domain knowledge encapsulated in existing ontologies is combined with an ontology being developed to capture the requirements. Using this, requirements engineers would be able to create more refined Requirements Deliverables.",
"title": ""
},
{
"docid": "ebc1e12f85c6b03de14b1170f450d3f8",
"text": "Mobility disability is becoming prevalent in the obese older population (> or = 60 years of age). We included a total of 13 cross-sectional and 15 longitudinal studies based on actual physical assessments of mobility in the obese older population in this review. We systematically examined existing evidence of which adiposity estimate best predicted mobility disability. Cross-sectional studies (82-4000 participants) showed poorer lower extremity mobility with increasing obesity severity in both men and women. All longitudinal studies (1-22 years) except for one, reported relationships between adiposity and declining mobility. While different physical tests made interpretation challenging, a consistent finding was that walking, stair climbing and chair rise ability were compromised with obesity, especially if the body mass index (BMI) exceeded 35 kg m(-2). More studies found that obese women were at an increased risk for mobility impairment than men. Existing evidence suggests that BMI and waist circumference are emerging as the more consistent predictors of the onset or worsening of mobility disability. Limited interventional evidence shows that weight loss is related with increased mobility and lower extremity function. Additional longitudinal studies are warranted that address overall body composition fat and muscle mass or change on future disability.",
"title": ""
},
{
"docid": "bf10806c9f2270a6958e38be6f640e1d",
"text": "Multivariate time series data can be found in many application domains. Examples include data from computer networks, healthcare, social networks, or financial markets. Often, patterns in such data evolve over time among multiple dimensions and are hard to detect. Dimensionality reduction methods such as PCA and MDS allow analysis and visualization of multivariate data, but per se do not provide means to explore multivariate patterns over time. We propose Temporal Multidimensional Scaling (TMDS), a novel visualization technique that computes temporal one-dimensional MDS plots for multivariate data which evolve over time. Using a sliding window approach, MDS is computed for each data window separately, and the results are plotted sequentially along the time axis, taking care of plot alignment. Our TMDS plots enable visual identification of patterns based on multidimensional similarity of the data evolving over time. We demonstrate the usefulness of our approach in the field of network security and show in two case studies how users can iteratively explore the data to identify previously unknown, temporally evolving patterns.",
"title": ""
},
{
"docid": "406c07534f083ebb4a71951a29292f2d",
"text": "Recurrent neural networks (RNNs) are capable of modeling the temporal dynamics of complex sequential information. However, the structures of existing RNN neurons mainly focus on controlling the contributions of current and historical information but do not explore the different importance levels of different elements in an input vector of a time slot. We propose adding a simple yet effective Element-wiseAttention Gate (EleAttG) to an RNN block (e.g., all RNN neurons in a network layer) that empowers the RNN neurons to have the attentiveness capability. For an RNN block, an EleAttG is added to adaptively modulate the input by assigning different levels of importance, i.e., attention, to each element/dimension of the input. We refer to an RNN block equipped with an EleAttG as an EleAtt-RNN block. Specifically, the modulation of the input is content adaptive and is performed at fine granularity, being element-wise rather than input-wise. The proposed EleAttG, as an additional fundamental unit, is general and can be applied to any RNN structures, e.g., standard RNN, Long Short-Term Memory (LSTM), or Gated Recurrent Unit (GRU). We demonstrate the effectiveness of the proposed EleAtt-RNN by applying it to the action recognition tasks on both 3D human skeleton data and RGB videos. Experiments show that adding attentiveness through EleAttGs to RNN blocks significantly boosts the power of RNNs.",
"title": ""
},
{
"docid": "642eaca36d3e2045ff07a24ffd82f69c",
"text": "BACKGROUND\nTo ensure accurate implementation of stabilization exercises in rehabilitation, physical therapists need to understand the muscle activation patterns of prescribed exercise.\n\n\nOBJECTIVE\nCompare muscle activity during eight trunk and lumbar spine stabilization exercises of the Functional Kinetics concept by Klein-Vogelbach.\n\n\nMETHODS\nA controlled laboratory study with a single-group repeated-measures design was utilized to analyze surface electromyographic intensities of 14 female and 6 male young healthy participants performing eight exercises. Data were captured from the rectus abdominis, external/internal oblique and lumbar paraspinalis. The normalized muscle activation levels (maximum voluntary isometric contraction, MVIC) for three repetitions during each exercise and muscle were analyzed.\n\n\nRESULTS\nSide bridging (28 ± 20%MVIC) and advanced planking (29 ± 20%MVIC) reached the highest activity in the rectus abdominis. For external and internal oblique muscles, side bridging also showed the greatest activity of 99 ± 36%MVIC and 52 ± 25%MVIC, respectively. Apart from side bridging (52 ± 14%MVIC), the supine roll-out (31 ± 12%MVIC) and prone roll-out (31 ± 9%MVIC) showed the greatest activity for the paraspinalis. The advanced quadruped, seated back extension and flexion on chair/Swiss Ball, prone roll-out and advanced one-leg back bridging only yielded negligible muscle activities for the rectus abdominis (< 5%MVIC).\n\n\nCONCLUSION\nBased on the data obtained, recommendations for selective trunk muscle activation during eight stabilization exercises were established, which will guide physical therapists in the development of exercises tailored to the needs of their patients.",
"title": ""
},
{
"docid": "042be132d3e4e99fa5fb3c2efda99d93",
"text": "In this research relevant areas that are important in Information System Security have been reviewed based on the health care industry of Malaysia. Some concepts such as definition of Information System Security, System Security Goals, System Security Threats and human error have been studied. The Human factors that are effective on Information System Security have been highlighted and also some relevant models have been introduced. Reviewing the pervious factors helped to find out the Health Information System factors. Finally, the effective human factors on Health Information System have been identified and the structure of Healthcare industry has been studied. Moreover, these factors are categorized in three new groups: Organizational Factors, Motivational Factors and Learning. This information will help to design a framework in Health Information System. 1.Introduction With less concern for people and organizational issues, a major part of information systems security strategies are technical in nature. As a consequence, since most information systems security strategies are of importance as they concentrate on technical oriented solutions, for instance checklists, risk analysis and assessment techniques, there is a necessity to investigate other ways of managing information systems security as they tend to disregard the social factors of risks and the informal structures of organizations. This investigation concentrates chiefly on human and organizational factors within the computer and information security system. The impact on security can be drastic if human and organizational factors influence their employment and use, irrespective of the power of technical controls (Bishop, 2002). In this aspect, the juncture for computer and information security vulnerabilities may be set by vulnerable computer and information security protection (e.g., weak passwords or poor usability) and malicious intentions may appear. The results of blemished organizational policies and individual practices whose origins are deeply rooted within early design presumptions or managerial choices causes susceptibilities (Besnard and Arief, 2004). Health Information System (HIS) has been implemented in Malaysia since late 1990s. HIS is an integration of several hospitals' information system to manage administration works, patients and clinical records. Because it is easy to access HIS data through the internet so its vulnerability to misuses, data lost and attacks will increase. Health data is very sensitive, therefore they require high protection and information security must be carefully watched as it plays an important role to protect the data from being stolen or harmed. Despite the vast research in information security, the human factor has been neglected …",
"title": ""
}
] | scidocsrr |
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