Chinese Modernist fiction Essay Example for Free

Chinese Modernist fiction Essay Chinese Modernist fiction is very complicated in terms of imagery and literary expression used by the author, as well as in terms of dual or multiple meanings of the works, but in general they express the mood of the epoch. Mu’s stories are to great extent experimental and vary between purely proletarian fiction and ‘dialect’ writings that express really deep thoughts through internal monologues and the use of dialogue as a tool of changing the characters’ self-perception or their impressions about their environment (MacDonald, 2004). Mu Shiying’s prose is often called â€Å"New Sensationist† (Xin ganjuepai) style of writing short stories whose plot often develops rapidly, whereas the picture the author has drawn at first remains unchengeable(MacDonald, 2004). â€Å"The name â€Å"New Sensationist† was derived from the Shinkankahu ha, a group of Japanese avant-garde writers from the 1920s and 1930s. However, the evidence is against the actual existence of a group of writers who called themselves â€Å"New Sensationist† in China† (MacDonald, 2004, p. 797). Nevertheless, Mu’s short story entitled â€Å"Five in a Nightclub† gives a number of sensational experiences, which this essay is designed to discuss. The first scene of the short story describes the intrinsic human need for material resources, the main drive of the business world: â€Å"Men with blood-shot eyes milled about the gold exchange. [†¦] The speculators devolved into brutes. The wind blew the reason from their minds and the steel from their nerves† (Shiying, 1992, p. 5), so that the first perception of Shanghai refers to the psychological tension between the people, who have suffered a lot from the adversities, brought about by life. The first episode represents the pace of Shanghai life: a person can lose their fortune or become rich in one moment, so the description of instability and nervousness refers to the lack of control over the situation, as if the participants were obedient marionettes in the hands of the powerful and malicious force. The second scene, depicting a young man, scornfully rejected by the girl he loves, also refers to the whims of fortune and more precisely –explains the sensation of hope; this feeling appears hovering or hanging over the place where Zheng Ping is waiting for his darling. The words he sent to the girl yesterday are, as he realizes, written to describe his today’s situation: â€Å"Stranger, O stranger! / Yesterday I was your slave. Today you say I’m a stranger†¦Ã¢â‚¬  (Shiying, 1992, p. 6). Importantly, there is a notable contrast between the first paragraphs, in which the author describes the character’s romantic thought, his illusionary closeness to the object of his strong feeling, and his disappointment and sorrow at the end, when â€Å"Zheng Ping’s hair turned white† (Shiying, 1992, p. 7). Fragments rapidly change one another. The short passage about a young woman, who has lost her beauty over the recent years, points to the perception of human body as machine that can be used: â€Å"Youth A – â€Å"Isn’t it Daisy Huang? She was the toast of the town five years ago! † Youth B – â€Å"Amen. She was quite a dish! †Ã¢â‚¬  (Shiying, 1992, p. 8). Accordingly, human beings do not belong completely to themselves, as they should always try hard to meet the requirements, imposed by society, especially those related to appearance and beauty. Ji Jie, the character, described in the next episode, is also lost in his self-identity and self-perception, so that he even fails to comprehend his real nature and the sense of his being in this world. Another character, battered cruelly by life, is Miao Zongdan, a clerk, who has been working hard for his career development and who receives a letter of dismissal. This episode is very similar to the first one, in which the sudden turning-point can ultimately change the individual’s life, destroy their desires, aspirations, ambitions – just like a high wave of tsunami that covers the person’s life. The first chapter of the short story therefore provides an overview of the psychological lives of certain dwellers of Shanghai, whereas the other people, surrounding them, remain indifferent, so that the average inhabitant of Shanghai is a ‘small person’, incapable of managing their fate. On the other hand, they should cope with their problems without any support from outside. The second chapter narrates about a typical Saturday night in Shanghai, or the bright underground life, heated by neon, alcohol and cigarettes: â€Å"Red streets, green streets, blue streets, purple streets†¦ City clad in strong colours! Dancing neon light – multi-coloured waves, scintillating waves, colourless waves – a sky filled with colour. The sky now had everything: wine, cigarettes, high-heels, clock-towers†¦Ã¢â‚¬  (Shiying, 1992, p. 10). Human mores become increasingly more relaxed at this time, and people are about to do unusual things, as such conducts are not likely to happen in the daylight. In the third chapter, Shanghai is described in merely two colors: black and white, that symbolize purity and dust, but flow together into a single glamour of the night club. In addition, one can note a mixture of different cultures in nightclub settings: the club itself is designed in European style, as the idea of night amusements in such settings derives from this continent, whereas the customers are Chinese; and the dancers who entertain the visitors are â€Å"Russian princesses† (Shiying, 1992, p. 11). This pre-arranged chaos influences the characters almost magically: their dreams seem to come true. The idea of saving night resembles the fairy tale theme: at daytime, the characters remain ugly beasts, whereas at night they turn into young and attractive princes and princesses, who become rich and are as a result surrounded by their admirers. In this sense, night is remedy against all daily troubles, as they all are resolved or fixed very quickly and naturally, as if the natural force that throws the characters into the depth of adversity and misfortune calms down at night – this magic conversion can be compared to black and white colors, which seem to be the major imagery in this place: â€Å"By the white tablecloths sit men dressed in formal evening attire: layers of black and white: black hair, white faces, black eyes, white collars, black ties, white starched shirts, black jackets, white waistcoats, black pants†¦black and white†¦Ã¢â‚¬  (Shiying, 1992, p. 10). The author seems to recognize only extremes, rather than the â€Å"golden middle† that balances the positive and negative forces and protects human psyche from excessively strong feelings and emotions. The city, in turn, also experiences a kind of transformation: whereas at daytime it looks like a huge technocratic monster that has only concrete and asphalt inside and is inhabited by people, who hurt each other with their apathy and indifference; at night it alters into a real paradise, filled with the radiance of happiness, kindness and friendliness. Noticeably, the characters in the night club interact with one another very dynamically and seem united by this atmosphere of common joy and relaxation. Nevertheless, this illusion of amusement seems unrealistic after the events, which took place in the afternoon; in spite of the miraculous healing of all human hardships, it contains the after-pains, which give the idea of the possible return of all daily problems once this wonderful night comes to its logical end. The depiction of the common excitement only reinforces the reader’s expectation of the future negative events, which will take place in the following morning or afternoon and shatter this positive emotional atmosphere. As for the characters in the nightclub settings, they are described as fragments, successfully integrated in an entity, as all of them manifest their self-confidence in almost the same way. For instance, Daisy re-gains her youth and beauty, so that nobody recognizes her, except her companion, Junyi, a gold baron: â€Å"†I’ve never been more sane in my life! † said Daisy, who had regained her composure. Suddenly she laughed again: â€Å"I will always be young. Oh, Junyi, let’s make a real night of it! † Daisy pulled Hu Junyi out onto the dance floor† (Shiying, 1992, p. 12). Later, Zheng Ping enters the club, looking drunk and happy because this time he has another girlfriend and therefore seems protected from the negative remembrances, which can be caused by Nina’s presence. Similarly to Daisy’s case, Zheng experiences a very short loss of nerves, but finally retakes self-control and focuses on his new girlfriend. Although Miao’s problem is not solved yet, he also joins the party and soon becomes drunk and happy. Whereas at first, Daisy and Hu’s joy seems natural, later the company is gradually falling into absolutely inhuman and unexplainable ecstasy that can be caused only by the overuse of spirits: â€Å"Everyone laughed with her – open mouths, open mouths, open mouth†¦ gaping holes that with every passing moment seemed less human† ((Shiying, 1992, p. 14). The characters have already joined to the nightclub atmosphere, primarily – because all of them have come with partners, so that they are no loner lonely and miserable. Ji Jie, despite the demonstrative happiness of the other four persons, is slowly sinking in the marsh of his own thoughts, in his hard mental work. Nevertheless, he is no longer depressed, as his visit to the club will probably allows him to find his identity and understand himself better. Moreover, he is described by the customers as a happy person: â€Å"Customer D – â€Å"He who has nothing to do after dinner and who can come here to break matchsticks is a happy man†. Customer C – â€Å" Even the drunkard with him is happy! He’s the guy who spilled the drink after badging in here. A while ago he was picking fights, now he’s telling jokes! † (Shiying, 1992, p. 18). Towards the end of the night the delight of the five characters begins to disappear, and the sensation of this night never seems to come again, as the problems, experienced by the five persons at daytime, are becoming more real. The sixth character, Jonny, later gets to know that her wife and newborn son are dead, but he is not allowed to leave the work and must continue entertaining the visitors with his music. The five personalities, who seemed cheerful to craze in the evening, are now described as â€Å"popped balloons† (Shiying, 1992, p. 20). All the characters later reconcile themselves to the fact that they are losers in this life, only Hu Junyi kills himself. His death is a milestone, after which the other characters open their true faces and confess to their tiredness of living. The night was nothing more than an attempt to repair the shattered lives, whose pieces turned out so small that it was impossible to paste them together. To sum up, the new perception of Shanghai is presented as never-ending rolling down, a journey through the severe daily reality and exaggeratedly euphoric night parties, which, however, quicken human degradation. Whiteness and blackness are never to mix together in Shanghai, so that its dwellers are fated to swinging between the two extremes, which are pain and delight. Either sooner, or later, the life of this small person will be shattered by the large city, as the short story narrates. Works cited MacDonald, S. The Shanghai Foxtrot by: Introduction. Modernism/modernity, Vol. 11 (4): pp. 797-807 Shiying, Mu. Five in a Nightclub, Renditions Spring 1992, pp. 5-22.

Honor killingskillings Essay Example for Free

Honor killingskillings Essay It is shocking to see that in today’s era when education and awareness has become the most integral part of human and societal development. Moreover, women empowerment and their role in every walk of lives have changed over the period of time. There are still such hideous practices that are being done in some parts of the world under the disguised name of honor killing and Pakistan being one of the countries which holds the highest rates of honor killings in the world. Karo Kari another name for ignorance. This name originated from the rural areas of interior sindh. It is being practiced in areas of Sindh such as Jacocabad, Sukkur, Khairpur, and Larkana along with other areas of Sindh and some places in Punjab. THE TRIBAL SYSTEM Pakistani society is rich with multiple cultures and ethnic backgrounds. Each of these cultures and people from diversified ethnic groups come from distinct backgrounds and live together hence they have their own traditions and customs which they have been following since years. In the rural areas of Pakistan the tribal system still exists such as areas in the interior sindh. This is where the ‘jirga’ system or commonly known as the â€Å"panchayat† system exists. Under this system the rich and the influential class of the village tends to form a committee and takes decisions on behalf of everyone and the decision given by this group is bound to be accepted by every member of the society. They have their own way of judging the case and passing a verdict on that, they take their own time, they think over it and give the date for the decision. The lower and the poor working class is suppressed under this system as they don’t have any say in it and obliged to follow it. KARO KARI Karo Kari is practiced when the women of the family has brought dishonor to the family name by any means. This could be if the woman has any illicit relations with any man, or an extra marital affair, she could be a rape victim or even if she wants to get married to somebody of her choice she is brutally killed by one of the family members themselves in order to bring back the lost glory and name of the family. It is not just this that an innocent women can be categorized as Kari and killed it is also when the family and the brothers want to keep the property and resolve land disputes she becomes a victim of this murder, for example if a man owes some money to a person and that creditor comes to his place in order to collect the money to his place from another village and stays over night. The person who owes the money would kill his wife next day and declare her a Kari so that he doesn’t have to pay the money . in this way the creditor would choose to leave without taking the money rather being declared as Karo and being killed. Similarly a man can be declared a Karo even if he doesn’t have any kind of affair with a woman but he has any form of dispute with some other tribe and he’ll be killed under the name of honor killing. These killings tend to have the most inhuman ways of torturing some one and sentencing them to death. They will bury the girl alive recently in one of the states of Sindh, Khairpur; a girl was thrown in front of dogs to be torn apart as an act of hour killing. THE RISE IN THE NUMBER OF KILLINGS It is very depressing to see that the trend in the number of killings that has taken place due to this has increased over the years instead of dropping. It is estimated that over the last six years in Pakistan the number of deaths caused by Karo Kari have been more than six thousand which included around 800 men too, so it is not just women who fall for this, there are men too but their number is relatively lower than the women. Different societies have different people and thinking therefore they believe what they are doing is the right way but this practice of suppressing the right of women and taking her right to live is a murderous crime and contradictory to the teachings of Islam. It is that barbaric evil of the society that has to be eliminated completely. Even worse is the fact that the rich and influential class tends to get away with this practice while the poor are helpless and they become the victim. THE ROLE OF GOVERNMENT As far as the government and other NGO’s are concerned then in the year 2004 there was an amendment made in the constitution which declared honor killings such as Karo Kari as equal to murder however, this amendment never came into practice because under another clause of the constitution it was stated that the accused can get away with the crime if one gets the consent of the family and in this case of Karo Kari the victims family itself is the one who are doing it therefore nobody can be put to trial as they don’t appear in the police station. It is the government’s duty to look into this matter and they should have made an alteration in the other amendment so that this brutal practice can be put to an end, however no concrete step has been taken to curb this. KARO KARI IS UNJUSTIFIABLE Karo Kari is a cultural shock to anyone who belongs to a civilized, developed and educated society and would condemn it. it is a murder not a punishment there could be any other ways of punishing one for their doings but such act is not justifiable on any grounds, it is barbaric and takes away the freedom of speech and expression. The dominating men in the â€Å"jirga† system have curbed the rights of women in these rural areas. It is actually the sardars who are the influential â€Å"waderas† who tend to encourage this practice as this increases their prestige in the society ,over that they get a compensation from the â€Å"jirga† too. Karo Kari is another name for ignorance, Islam has already restricted the Muslims and it has set punishments for the victim therefore any other act that is being practiced under its name is simply ignorance. In Islam having an illicit sexual relationship is condemned and the accused is whipped not subject to killing. How can one justify the killing of a woman who has been subjected to rape? By declaring such a women Kari and killing her society is depriving the soul from getting justice and instead of taking her out of that trauma one is putting an end to her life. Why are women accused more then men in Karo Kari, it is not that men are more faithful then women it is just that women are weak in these areas and men are strong that is why they are able to get away with it. These â€Å"jirga† have no right to take away the liberty to live from such people; they should work for the benefits of the society by coming to a conclusion on the basis of â€Å"shariah† not merely stay ignorant. Women are not property that their life is kept at stake to resolve land disputes. Moreover the killing is done in the most inhuman way. To bury some one alive, throwing her in front of dogs or to burn her alive is unjustifiable. Such practices were there in the olden days when there was no education and no awareness but it’s shocking that it still exists in our society and nobody has done anything to put an end to it. It is unjustly exploited by the feudal land lords and the elite class of the village who use Karo Kari to resolve their personal matters. One such incident took place when a native of interior Sindh came home after years of hard work from Dubai and brought money back home to start some form of business in his native land. He came in the eyes of the feudal lord due to his money and business. The opportunist wanted to trap him in the case of Karo Kari and he got the opportunity when the man by mistake prayed on the grave of some other women, thinking it to be his wife’s grave. The feudal lord took advantage of this and declared him a Karo; the man not only paid 15million to the land lord in order to save his life, he was kicked out of his home land and his business was taken away. There are many such instances when the influential people of the â€Å"panchayat† system tend to trap others for their own good and they use this practice of Karo Kari as a tool in order to get away with it. It is unfortunate to see that such murders are given the name of honor killings. THE URBAN AREAS VERSUS THE RURAL SETUP The tragedy with these women lies in the fact that they are born in such a set up and society where they are considered as a burden on the family. Girls still cannot compete with the boys and neither can they express their opinion. Sons are preferred over daughters. Daughters are not encouraged to go to school or get exposed to the outside world. Therefore their thinking is confined to just one place. They are expected to do what they are asked for and nothing else. Lives in the urban areas are an extreme opposite view of this. If one may not go far and compare with places in the similar province such as Karachi. The region is developed and modern. It is a cosmopolitan city and comprises of people from all caste, color and creed and they all share different cultures and languages and live altogether. Women here are educated and empowered like never before. They are independent, focused and know exactly what they want out of their lives. They are working as well as having a family and they are doing well in every walk of lives and competing with men. They take their own decisions. The living and culture of these societies varies from the rural areas actually there is no comparison. The two societies share the same religion and language yet again there are differences of opinions and thinking process. The urban life of Karachi is mush more modern and liberal as they are adopting the western culture in their society. Apart from the right to go out or make money, women can dress up the way she wants, socialize, make friends and do whatever she wants to. Girls are actually encouraged to go and study in co education and moreover sent abroad for further education and their families and relatives support them in this. In these urban areas there is no such thing as ‘jirga system. Life is different here justice drawn through legal courts and with the help of police. A rape victim can go to the police and lodge a complaint against the culprit and she has the right to live and fight for her right and nobody can stop her. All kinds of disputes pertaining to property, ownership, marriage or anything are resolved through legal procedure in the courts. After the age of eighteen years the girl and the boy have the right to choose her own life partner and get married to him legally. The concept of honor killings does not exist in these urban areas. This society has its own set of evils and drawbacks such as poverty, corruption, unemployment, terrorism. Women in urban areas are as influential and resourceful then men that they can not be dominated unjustly. Tribal system is a sign of backwardness and illiteracy and refusal to accept this fact is what is leading to what it is today. These two societies have completely different set of values, cultures, traditions and norms that they follow. The living and lifestyles of these people are also different. In the urban areas there are also powerful and influential people who tend to subjugate the weaker class, however that is done in entire different way where the free will of everyone is not included like the â€Å"jirga† system where everyone is bound to listen to them? Life in the urban society has made men and women strong and independent that’s the way they are brought up, whereas the tribal system has put them in a much weaker stand. The practice of Karo Kari is a social issue and it can not come to an end until there is no change in the social structure of the society and in order to change to be there, there has to be awareness and education and the powers of the rich and the land lords needs to be curbed so that they don’t exploit the common man who work for them as their slaves. It should not be encouraged but since it has been following from years and the people in the villages associate it as a matter of prestige and honor that is why is strongly accepted and being followed. It is not being used in villages to make easy money. The men’s of the family tend to kill their own daughter, wives and sisters ruthlessly in order to make easy money. it is actually depressing to see this that in today’s time such type of unjust ways of killings are taking place by the wrongdoers and they are justified on the basis of honor killings. 60% cases of the cases of Karo Kari are reported to be where the accused were innocent and yet killed. Every society and every religion have their own set of limitations which are known to all. Yet again those are not being followed that doesn’t mean that one can make use of it and exploit it on the basis of â€Å"ghayrat†. There are officials in the government who haven’t done anything to stop this practice because they feel it is not wrong, not only men, there are women who are seen in the political setup who have the ability to do something, yet are not doing anything. There are different cultures and people living in one country and each of them have their own problems and drawbacks. Whereas in one province one woman can get married by giving a divorce to her husband and in the other society she is buried alive if she has her own opinion. This tribal system has gone so worse that the people who live under it fear their death and therefore few try to escape and the ones who have money give that and get away with everything. Even if people try to escape these killings the villagers look for them and they kill them whenever and wherever they find them. Education is the key in all this that can reduce the gap and disparity among the two societies and give everyone the freedom to live as an independent citizen. ohou Key words Honor killings in Pakistan Karo Kari and the tribal system Women empowerment

Occlusal Stent Construction Research

Occlusal Stent Construction Research Initial examination was carried out consisting of evaluation the periodontal condition of the teeth. After selecting the suitable patients for the study, all of them received supra gingival scaling and polishing with a good motivation and instruction in oral hygiene measures including brushing, using dental floss and interproximal brushes as indicated and demonstration was given to them about the work of perio Q gel and it’s application . An alginate impression was taken and an occlusal stent was constructed for each patient. After completion of the occlusal stent construction, the patient was recalled again and this was considered the first visit. In this visit the clinical periodontal examination was carried out for the selected sites and it included the following parameters: Plaque Index (PLI) :- (Silness and Loe 1964) A periodontal probe was used after air drying of the teeth and the selected sites were examined for plaque. The periodontal probe was gently passed along the gingival crevice. The criteria was the following: Score 0: No plaque in the gingival area. Score 1: A film of plaque adhering to the free gingival margin and adjacent area of the tooth surface, which cannot be seen with the naked eye but only by using disclosing solution or by using probe. Score 2: Moderate accumulation of soft deposits within the gingival pocket, on the gingival margin and or adjacent tooth surface which can be seen by naked eye. Score 3: Abundance of soft matter within the gingival pocket and or on the gingival margin and adjacent tooth. Gingival Index (GI): (Loe, 1967). The occurrence of gingival inflammation was assessed using the criteria of gingival index system Score 0: Normal gingiva. Score 1: Mild inflammation, slight change in color, slight edema, and no bleeding on probing Score 2: Moderate inflammation, redness and glazing, bleeding on probing. Score 3: Severe inflammation, marked redness and ulceration, tendency to spontaneous bleeding. Bleeding on Probing (BOP) :- (Carranza, 2012). A blunt periodontal probe inserted to the bottom of the periodontal pocket/sulcus and is moved gently along the root surface. If bleeding occurred within 30 seconds after probing, the site was given positive score (1), and a negative score (0) for the non-bleeding site Probing Pocket Depth (PPD): (Lindhe et al.,1998) The probing pocket depth was measured with a Williams periodontal probe at four sites of all teeth on (mesial, buccal, distal and lingual), the distance from gingival margin to the most apical extent of the probe inserted parallel to the long axis of the tooth to the nearest millimeter (mm) was recorded only for the sites exhibiting probing depth of (5-8)mm. Relative Attachment Level (RAL): The occlusal stent was adjusted to fit the teeth, then vertical grooves or holes corresponding to the probed site were made using rotary fissure bur, these grooves provided a fixed reference mark for probe insertion and angulation. The stent was putted on the occlusal surfaces to cover half or 2/3 of the crown. The distance from the base of the pocket to the lower border of the stent at the base of the groove was considered as the RAL. The measurement was made to the nearest mm . The clinical periodontal recordings were repeated after 3 and 6 weeks. Treatments After recording of all periodontal parameters for the selected sites, the patient mouth was splitted into three quadrants, each quadrant received different treatment modality and as follows: Initial visit (1stday): patient selection, supra gingival scaling, alginate impression, motivation, instruction. . Gel group: 111 sites in this group received intra pocket application of perio Q gel. The selected sites were isolated by cotton rolls and dried the teeth by air, and then dried the pockets by paper point size (30, 35, 40, and 45).the application of the gel was made using disposable syringe of 5ml. the sharp tip of needle was removed by rotary bur to avoid hurting the gingival tissue and smoothened it, then 1 ml of the gel was pulled by the syringe and the needle gently placed down through the pocket until it reach to the bottom of the pockets then placed the gel while worked the way up until the gingival margin. Each pocket was received a range of (0.1-0.3) ml., the excess gel oozing from the pockets was removed by Cotton rolls The patients were instructed to avoid spitting, washing, eating and drinking for 2 hours of the gel application. Toothbrush and interdental aids should paused of the day after the gel application. Combination group: 106 sites in this group received scaling and root planing, then after one hour, the patient examined if there was no blood oozing,then the gel applied as was described previously. If not, the patient was referred to the next day. Scaling and root planning group: 106 sites in this group received scaling and root planning only. Pilot study To perform intra examiner calibration and inter examiner calibration with clinical periodontal parameters used in this study (PLI, GI, BOP, PPD, RALI), a pilot study was carried out in Department of periodontics, College of Dentistry, Baghdad University. It was carried at about four weeks before the conduction of the actual project on two subject with twelve-sites. The intra examiner calibration was repeated after an appropriate period (usually 2-4 weeks) to resolve any memory bias. While the inter examiner calibration was repeated by another trained professional at the same time. The consistency (calibration) should be at least 90% and if it is low, the measurement should be repeated. Statistical Analysis Data were processed and analyzed using SPSS 16 for windows8 (statistical package for social science) and excel 2013.both descriptive and inferential analyses Descriptive Statistics Tables (Range, Frequencies and Percentage) Arithmetic Mean Standard Deviation Mean Difference. Median Minimum and Maximum Graphical Presentation by Bar Charts and Scattered Plots. Inferential Statistics There was used to accept or reject the statistical hypotheses, which included: Analysis of Variance Test(ANOVA) One Way Student t-Test for equality of means of two independent groups. Wilcoxon Signs rank test Mann Whitney U Test References Lindhe J Karring T Lang N. Clinical periodontology and implant dentistry. 3rd edition. Copenhagen, Munksgaard,1998 LÃ ¶e, H. The Gingival Index, the Plaque Index and the Retention Index Systems. Journal of Periodontology, Vol. 38, No. 6 (November-December 1967), pp. 610-616. Silness J, Loe H. Periodontal disease in pregnancy. II. Correlation between oral hygiene and periodontal condition. Acta Odontol Scand 1964;22:112-135

The Adventurous Character Tom in Mark Twains The Adventures of Tom Saw

The Adventurous Character Tom in Mark Twain's The Adventures of Tom Sawyer The needle pricked the finger to let the blood drip on to the peace of pine shingle to finalize the oath that was to keep them "mum" (76) about the murder they had just witnessed. Mark Twain's book The Adventures of Tom Sawyer (1985) takes place in the mid 1800's and tells the adventures of Tom Sawyers adventures. The adventures started out with Tom and his friend, Huckleberry Fin, sneaking out and accidentally being witnesses to a murder. They then promise to never tell a word of it. Throughout the book they forgot about the murder and decide to go and play pirates and search for gold, but a trial about the murder finally comes, and it is haunting Tom because an innocent person, Muff Potter, is about to be executed. Tom opens his mouth to tell who the murderer was and then both Tom and his friend are in danger of being the next victims, but fate catches up with the murderer and he starves in a cave when the door is locked shut. The novel's finale is Tom and Huck finding the chest of gold, which made them both prosper with wealth. Throughout the novel, Twain uses a great approach to making the novel a very good read because of the fascinating characterization of Tom Sawyer. The dominant techniques that Twain uses to characterize Tom as an adventurous young man are his appearance, his thoughts, what others think of him, his actions, and his speech. Tom's appearance is the first element that enhances his character. His appearance is always changing. Tom starts most days looking like a cleaned up young man in nice clothes, but it usually never failed that through Tom's adventures of his rough play, fighting, mischief or swimming his clothes would end t... ...t example because if a person were in a fight they wouldn't say "You say enough when you have had enough." The use in the story makes it more realistic. Another good example of Tom's speech is when he was talking about the money that the robbers had got. He said, " 'Tain't a dream, then, 'tain't a dream! Somehow I most wish it was. Dog'd if I don't, Huck" (169). This is another good example because Tom was really excited when he stated this, so he wouldn't worry about good speech and grammar. Twain did a very good job of characterizing Thomas Sawyer. To do this he effectively used the techniques of characterization including appearance, his thoughts, what others think of him, his actions, and his speech to formulate a very interesting exploiting character. Work Cited Twain, Mark. The Adventures of Tom Sawyer. New York: Houghton Mifflin Company, 1985.

Essays --

The author of the article â€Å"Why I changed my mind† captured the true picture of the monstrous shadow that stalks teachers in public schools. The NCLB might have been conceived initially with good intentions but had spawned into a creeping threat creating nightmares to educators. Like what Diane Ravitch said, accountability became the stick that is used to punish schools. I think it also created resentment; and this resentment has taken away the joy of teaching and learning. The non-stop assessment to measure if standards have been taught left teachers always on their toes. In effort to cover all concepts included in the test, teachers are left with no choice but scratching on the surface without getting deeper on the content. Not only this leaves students with no mastery, it also resulted in the widening of learning gaps. Teachers, year after year, inherit students who are unprepared and lacking grade level skills. This is evident to some 5th graders in my school who are in still struggling to subtract with regrouping, much more across zeroes. Subtraction with regrouping is first taught in second grade. In addition, with assessments used as a measure of teachers’ performance and determinant of incentives to teachers created inequality. Teachers with students scoring high and receiving monetary incentive may feel elated. While in contrary, teachers who somehow got a group of students who did not perform well are left demoralized. Teachers cannot c hoose their students. With all the factors stated in the article that determines students’ performance, there are other aspects that are beyond the teachers’ control. I personally know a teacher who teaches at a regular public high school, he is very dedicated and almost yearly trained at ... ...w the concepts based from observation and work samples. In several occasions, during benchmarks or in the real test, her scores were one or two questions away from passing. I saw how her morale and self esteem deteriorate. She became so unsure of herself becoming anxious each time a test. Her mother even considered transferring her to a private school so she will not be subjected to state testing. With her morale destroyed, the more she became unfocused during testing. To help her cope, I tried to appease her dismay with encouragement, highlighting her strengths and stressing that her scores are not reflective of whom she is. She seemed to have understood. However, I knew that as she move up to middle school, her test scores will be the first data being looked at. It is a sad reality that all the learning and effort of this student are summarized to her test scores.

Filipino Accounting Education Essay

This Statement is issued by the Accounting Education Change Commission (AECC). The AECC was appointed in 1989 by the American Accounting Association and supported by the Sponsors’ Education Task Force, representing the largest public accounting firms in the United States. Its objective is to be a catalyst for improving the academic preparation of accountants so that entrants to the accounting profession possess the skills, knowledge, and attitudes required for success in accounting career paths. The Commission encourages reproduction and distribution of its statements. The Commission’s first Position Statement, on the objectives of education for accountants, emphasized the importance of teaching. The Statement cited the need for training in instructional methods, recognizing and rewarding contributions to teaching and curriculum design, and measurement and evaluation systems that encourage continuous improvement of instructional methods and materials.1 Without progress in these prerequisites to effective teaching, the objectives of that Statement cannot be realized. Moreover, progress is needed in mechanisms for sharing ideas and techniques and in the culture and organizational climate that establishes and maintains the scholarly status of teaching within the professoriate. All interested parties (e.g., university boards of trustees, regents, legislatures, governors, parents of students, and other sponsors of education) should help establish a priority on teaching and otherwise improve its effectiveness, but faculty and administrative leaders bear the greatest responsibility. CHARACTERISTICS OF EFFECTIVE TEACHING The characteristics of effective teaching must be identified if their presence is to be measured and improvements envisioned. Understanding the characteristic of effective teaching is essential for faculty (so they know what is expected) and administrators (so they can assess performance). Five characteristics of effective teaching are listed below. Curriculum Design and Course Development. To effectively design curricula and develop courses the teacher must: set appropriate objectives; develop a useful framework for the conduct of courses and programs; conceptualize, organize, and properly sequence the subject matter; integrate courses with other related courses, disciplines, and current research; and be innovative and adaptive to change. Use of Well Conceived Course Materials. Effective course materials enhance presentation skills, fulfill course objectives, are consistent with current developments and new technology in the field, create a base upon which continued learning can be built, challenge students to think, and give them the tools to solve problems. Presentation Skills. Effective presentation skills stimulate students’ interests and their active participation in the learning process, respond to classroom developments as they occur, convey mastery of the subject matter, achieve clarity of exposition, instill professionalism, and engage students with different learning styles. Well Chosen Pedagogical Methods and Assessment Devices. Effective pedagogical methods (e.g., experiments, cases, small group activities) vary with circumstances (e.g., size of class, nature of the subject, ability or skill being developed). Assessment devices (e.g., examinations, projects, papers, presentations) should be geared both to course objectives and to the progress of the course and should have a pedagogical component (e.g., fixing in the student’s mind what is most important, learning by thinking through a problem, identifying weaknesses to be corrected, reinforcing acquired skills). Guidance and Advising. An effective teacher guides and advises students as appropriate to the level of study and research (e.g., a freshman’s exploration of potential careers, a senior’s job placement, or a doctoral student’s work on a dissertation). THE ADMINISTRATIVE TASK Administrators should ensure that the reward structure stimulates effective teaching. They should also give attention to the other administrative issues that can affect the quality of teaching. These include: The school’s or department’s infrastructure for learning. This infrastructure includes, for example, classrooms, EDP and projection equipment, library facilities, and study space. Deployment of discretionary resources (e.g., availability of secretarial assistance, printing and duplicating, travel funds for teaching conferences). Appropriate class sizes and teaching loads, given the educational mission and resources of the school. Administrators should consider how each of the factors above is influencing the quality of teaching at their institutions and whether improvements can be made. Finally, administrators should be satisfied with the quality of the procedures in place in their institutions to evaluate teaching and continuously improve it. REWARDING EFFECTIVE TEACHING Faculty and administrators have a joint responsibility to develop incentive systems that produce the best educational outcomes for students. No one reward system or set of reward criteria can serve all institutions, but all should create adequate incentive for effective teaching. The incentive systems should reward effective teaching in deed as well as in word. Effective teaching should be a primary consideration in the tenure, promotion, and merit evaluation process. Effectiveness and innovation are not free, and it would be a mistake to assume that in the long term simply faculty pride and altruism are sufficient to accomplish continual change and improvement in the instructional function. STRATEGIES FOR EVALUATING AND IMPROVING TEACHING There is a close relationship between evaluating and improving teaching. Information about performance provides feedback on where improvements might be made. Assessments of performance need not have a purely administrative function of determining salaries and promotions; they can be devoted to improving teaching. The techniques below illustrate the range of what is available. Regardless of the technique chosen, assessments of teaching should be systematic and consistent. Self-assessment. Every teacher should regularly assess his or her work in order to improve. Self-assessment requires an evaluation of what was effective, what was not, why some things were relatively more effective, and what changes are desirable. Self-assessments can include documentation of purposes and techniques provided to colleagues as part of formal evaluations and are a natural basis for informal discussions of teaching techniques. Observations by Colleagues. Faculty should be primarily responsible for evaluating the teaching performance of colleagues. The evaluation process should be systematic and should strive for objectivity. A structured approach lends consistency to observations, which can make subsequent observations less stressful. All observations by colleagues should have as a major purpose to make recommendations for improvement, even if the occasion for the observation is administrative. Experience should be considered in assigning faculty observers. Student Evaluations. Student evaluations provide direct evidence of student attitudes toward the classroom experience. Students can report reactions to course workload; to the course materials; to the teacher’s classroom enthusiasm, demeanor and control; and to their personal interaction with the teacher. They can also estimate their own academic growth in the course. Alumni Input. Graduates can report on the thoroughness of their preparation, the usefulness of specific educational experiences in their lives and careers, and recollections of effective courses and teachers. Aggregate data on alumni outcomes (e.g., employment data) can be combined with information on curriculum design and teaching effectiveness to evaluate how both an accounting program and teaching approaches might be improved. Instructional Consultants. Consultants can analyze teaching techniques and styles and provide recommendations for improvement. Sometimes it is useful to work with a consultant and a faculty colleague, with the colleague focusing on course content and the consultant on teaching techniques. Teaching Portfolios. A teaching portfolio is a factual description or collection of a professor’s teaching achievements (i.e., an extended teaching resume). The teaching portfolio is to a professor’s teaching what lists of publications, grants, and academic honors are to research. A portfolio might include documentation of one’s teaching experience and philosophy, syllabi, evidence of student learning, student and faculty evaluations, videotapes, and documentation of work on curriculum design and course development. A teaching portfolio may be critical to providing the teaching vita with the portability and external review enjoyed for so long by the publishing vita. CONCLUSION Every party with a stake in improving accounting education has a stake in improving accounting professors’ teaching, but faculty and administrators can do the most to bring it about. They can work to ensure that teaching is appropriately rewarded and supported, that campus conditions are conducive to effective teaching, that effective teaching strategies are shared with others, that sound mechanisms for feedback on teaching effectiveness are in place and functioning, and that methods of evaluating teaching are refined and viewed as credible by those who play key roles in the evaluation and reward process. SELECTED BIBLIOGRAPHY Angelo, Thomas A. and K. Patricia Cross. Classroom Assessment Techniques: A Handbook for College Teachers (2nd Edition) San Francisco, CA: Jossey-Bass Publishers, 1993 Boyer, Ernest L. Scholarship Reconsidered: Priorities of the Professoriate. Princeton, N.J.: The Carnegie Foundation for the Advancement of Teaching, 1990. Blackburn, Robert T. and Judith A. Pitney. Performance Appraisal for Faculty: Implications for Higher Education. Ann Arbor, MI: national Center for Research to Improve Postsecondary Education, The University of Michigan, 1988. Braskamp, Larry A. and John C. Ory. Assessing Faculty Work. San Francisco, CA: Jossey-Bass Publishers (in preparation), 1993. Cashin, William E. â€Å"Defining and Evaluating College Teaching,† IDEA Paper No. 21. Kansas State University, Center for Faculty Evaluation and Development, September 1989. Centra, John, Robert C. Froh, Peter J. Gray, Leo M. Lambert and Robert M. Diamond, eds. A Guide to Evaluating Teaching for Promotion and Tenure. Syracuse University, Center for Instructional Development, 1987. Diamond, Robert M. Designing and Improving Courses and Curricula in Higher Education. San Francisco: Jossey-Bass Publishers, 1989. Edgerton, Russell, Patricia Hutchings and Kathleen Quinlan. The Teaching Portfolio: Capturing the Scholarship in Teaching. Washington, D.C.: American Association for Higher Education, 1991. Gabbin, Alexander L., Scott N. Cairns and Ralph L. Benke, Jr., eds. Faculty Performance Appraisal. Harrisonburg, VA: Center for Research in Accounting Education, 1990. Lambert, Leo M. and Stacey Lane Tice, eds. Preparing Graduate Students to Teach: A Guide to Programs that Improve Undergraduate Education and Develop Tomorrow’s Faculty. Washington, D.C.: American Association of Higher Education, 1993. McKeachie, Wilbert J. Teaching Tips: A Guide Book for the Beginning College Teacher. (8th Edition) Lexington, MA: Heath and Company, 1986. Mckeachie, Wilbert J., Paul R. Pintrich, Yi-Guang Lin and David Smith. Teaching and Learning in the College Classroom: A Review of the Research Literature. Ann Arbor, MI: National Center for Research to Improve Postsecondary Education, The University of Michigan, 1986. Menges, Robert J, and B. Claude Matkis, eds. Key Resources on Teaching, Learning, Curriculum, and faculty Development. San Francisco, CA. Jossey-Bass Publishers, 1988. Seldin, Peter. The Teaching Portfolio: A Practical Guide to Improved Performance and Promotion Tenure Decisions. Boston, MA: Anker Publishing, 1991. Seldin, Peter and others. How Administrators Can Improve Teaching: Moving from Talk to Action in Higher Education. San Francisco, CA: Jossey-Bass Publishers, 1990. Stark, Joan S. and others. Planning Introductory College Courses: Influence on Faculty. Ann Arbor, MI: National Center for Research to Improve Postsecondary Education, The University of Michigan, 1990. St. Pierre, E. Kent, Michael P. Riordan and Diane A. Riordan, eds. Research in Instructional Effectiveness. Harrisonburg, VA: Center for Research in Accounting Education, 1990. The Teaching Professor. A newsletter published by Magna Publications, Inc., Madison, WI: Maryellen G. Weimer, Editor, Pennsylvania State University. The AECC acknowledge the contributions to the Statement of the following task force members who are not Commission members: Ronald J. Patten and Arthur R. Wyatt. Other Statement issued by the Accounting Education Change Commission: Issues Statement No. 1: AECC Urges Priority for Teaching in Higher Education (August 1990). Position Statement No. One: Objectives of Education for Accountants (September 1990). Issues Statement No. 2: AECC Urges Decoupling of Academic Studies and Professional Accounting Examination Preparation (July 1991).

Ltcm (Long Term Capital Management)

Workshop 2, week 3 Syndicate 1 1. The collapse of Trio Capital demonstrated the way in which hedge funds and funds of hedge funds can be overly complex, unclear and lacking in transparency, particularly for retail investors. a. Briefly summarise what has happened in the case of Trio Capital last year in 2012 in Australia The collapse of Trio Capital is the biggest superannuation fraud in Australian history. Trio Capital was the trustee of a numbers of super funds governed by the APRA (Ryan, S. , 2011).It also had a number of managed investment schemes, like ARP Growth Fund and Astarra Strategic Fund. An American lawyer, Jack Flader, controlled the hedge funds in the Caribbean in behalf of the company with the $180 million from Trio Capital’s schemes (Ryan, S. , 2011). When those funds collapsed, Australian investors funds disappeared. The company had very poor corporate governance, and at least one of the directors had fraudulent conduct and has gone to jail (Ryan, S. , 2011). Liquidators have record $300 million assets, but more than $ 200million are still missing (Ryan, S. 2011). More than 6000 investors lost money and some of them lost their entire retirement savings (Ryan, S. , 2011). And 5000 of those investors share $55 million taxpayer-funded levy to compensate the loss (Ryan, S. , 2011). However more than 600 investors will not get any compensation because the hedged funds they invested were self- managed and not governed by the APRA (Ryan, S. , 2011). 2. Discuss the regulations that were in place with regard to hedge funds in Australia and what the changes that are in place are.Firstly, Lacking of universal definition of â€Å"hedge funds† has been a problem. Hedge funds have five unique characteristics defined by the regulations. According to Class Order [CO 12/749] Relief from the shorter PDS regime, a responsible entity using expression of â€Å"hedge funds† must exhibit two or more characteristics from the following list: (i) U se of investment strategies intended to generate returns with low correlation to equity and bond indices and/or complex investment structures (ASIC, 2012) (ii) Use of everage to increase returns (ASIC, 2012); (iii) Use of derivatives for speculative purposes (ASIC, 2012); (iv) Use of short selling (ASIC, 2012); or (v) Performance fees (in contrast to fees based on funds under management (FUM)) (ASIC, 2012). However, after the scale collapse of Trio Capital and other funds, hedge funds mangers might try to avoid labelled as hedge funds due to poor reputation.Secondly, improving disclosure promote more efficient capital market, help disclosure relevant information, reduce the possibility of omitting important information, concentrated on the information need of the investors, and be flexible to adapt investors’ information needs changes (ASIC, 2012). Under Corporations Act. 3 Pt 7. 9 requires the Product Disclosure Statement need to be prepared to the offer of interests, and on going disclosure obligation and requirements on advertising and publicity for the offer of interests(ASIC, 2012) .In detail, PDS must: (a) Be worded and presented in a clear, concise and effective manner (s1013C(3)) (ASIC, 2012); (b) Make specific disclosures (s1013D), including among other things about the significant risks associated with holding the product (ASIC, 2012); and (c) Include all other information that might reasonably be expected to have a material influence on the decision of a reasonable person (when investing as a retail client) about whether or not to invest in the product (s1013E) (ASIC, 2012).In addition, Ch 5C has further requirements on hedge funds, including the registration need to be label as a managed investment scheme operated by a responsible entity which holds an Australian financial services (AFS) licence, and to have a scheme constitution and compliance plan (ASIC, 2012). 3. Describe the roles of investment banks and merchant banks, with an emphasis o n the nature of their off -balance-sheet business, in particular mergers and acquisitions. The merge and acquisition services income of the investment banks and merchant banks are large.In 2003 the total amount of advisory fees that charged exceeded $596 million in USA, suggesting that investment banks earned a significant amount of income for providing M&A advice (Walter, Yawson & Yeung, 2007). The advisory services offered by investment banks usually related to various aspects of the acquisition and sale of company and assets such as business valuation, negotiation, pricing and structuring of transactions, and procedure and implementation (Water, et al. , 2007).One of the most important analyses is called dilution analysis, which requires updated skills about M & A accounting. Investment banks also provide â€Å"fairness opinions† which usually involved documents attesting to the fairness of a transaction (Water, et al. , 2007). In some cases, firms interested in M & A advi ce will contact an investment bank directly to process a transaction in mind. However, in the majority cases, investment banks will pitch ideas to potential clients.After a general introduction of investment banks services in merger and acquisition, the specific roles will be provided below: First, investment bank plays an advisory role for both buyers and sellers. When investment bank takes the role of an advisor to potential sellers, this is named as a sell-side engagement (Water, et al. , 2007). On another hand, when investment banks act as an advisor to the acquirers, this is called a buy-side assignment (Water, et al. , 2007). Other services include advising clients on hostile takeovers, joint ventures, h, buyouts and takeover defense.Secondly, investment bank also plays a due diligence role. Due diligence means gathering, analyzing and interpreting the target company’s financial information, compared with its historical and projected financial results, assessing potenti al synergies and evaluating operations to identify opportunities and challenges (Water, et al. , 2007). Due diligence is used to investigate the risk and give client a true financial picture of the acquiring company. Clear the benefits and challenges of the transaction.Off balance sheet business means the business involved an asset or debt or financing activity is not record on the company’s balance sheet (Wikipedia, 2013). For example, financial institutions have business like asset management or brokage service to their clients. The assets (often securities) usually belong to the clients directly or in trust, the company has no direct claim to these assets or has no direct obligation to these liabilities (Wikipedia, 2013). The company usually has responsible for some fiduciary duties to the client.Financial institutions may report off –balance sheet items in their accounting statements or may also refer to â€Å"assets under management† on off balance sheet it ems. Under current accounting rules, the accounting distinction between on and off-balance sheet items are quiet detailed and depend on the degree of management (Wikipedia, 2013). In this case, investment banks help buyers and sellers to process the transaction in merge and acquisition. The assets and liabilities involved in merge and acquisition is directly controlled by the buyers and sellers rather than the investment banks.Hence these assets or liabilities should be recorded on the off-balance sheet of the investment banks. Syndicate 2 1. Describe the key factors, strategies that led to and the lessons learned from the demise of Long Term capital Management. Provide a brief summary of what happened and what were the strategies used by the fund. ( ,reference reading , reading ) Summary of what happened: Long-Term Capital Management was a hedge fund management company that involves absolute-return trading strategies accompany with high leverage nature.The firm's key hedge fund wh ich called Long-Term Capital Portfolio initially succussed with after fees yearly returns over 40% in its first years. However due to the influences from Russia financial crisis and its high leverage, in 1998 it lost $4. 6 billion in less than four months. There were a wide range of companies and individuals affected by LTCM’s loss. In order to prevent chain reaction, Federal Reserve’s financial intervention and other companies taken over required and the company closed down in early 2000. The strategies:Initially, the company use complex mathematical model to analyse fined income bond to demonstrate arbitrary trade (usually pick up American, Japan and European government bond) Government bond is a term contract, which means in the future, at a fixed time, they will receive a fixed amount money. When the bond firstly issued, the difference of price has been minimised. Hence, according to economic theory, any price gasp will be fulfilled by arbitrary. The price differen ce between 30 years government bond and 29 times 9 month bind should be very small. And both of them will be mature about 30years later.However these two bonds will have slightly difference due to liquidity difference. So through a serious of financial techniques, buy 29 year 9 month bond and sell 30 years bond before the 30 years bond just issued, the profit becomes possible (Edwards, F. R. , 1999). But using the price difference and arbitrary was not sustainable. Hence the LTCM must use high leverage to generate more returns. In 1998, the company only had 47. 2 billion by them self, but financed funds about 1245 to 1290 billion, which means the leverage ratio exceed 25 (Edwards, F. R. , 1999).And the majority of the funds are invested in derivatives which is extremely risky (Edwards, 1999). Lessons: Limited leverage should be required for companies to reduce solvency risk. Arbitrary will not sustainable for the long period. The company lack of sustainable strategy. Disclosure of i nformation is quiet important. This will reduce the investors gambling act and let them realise the true risk. 2. Refer to the case of LTCM. Imitation is said to be the sincerest form of flattery. What problems does this create in financial markets? Does this cause financial market crises or is it only a problem when a crisis occurs?Problems: Leverage ratio exceeds to 25, which is too high. Arbitrary is not sustainable, hence the long term investment strategy is absent. The funds amount is large; hence it is difficult to recover the loss. This will increase the possibility of the financial crisis to happen. Because LTCM is extremely high risk company, even though all the company’s partners are graduated from world’s leading universities like MIT Harvard, and they have complex mathematic model, but its high leverage financing structure and business activity nature (e. g. edge, derivative) determined LTCM is an extremely high risk company. Those high-educated partners us e other person’s money to take risk without nominating the true risk. If the principal knows the risk, they might not invest in this company. As one company failure will cause others loss money. If the same investment strategies apply to all the companies in this industry, then the failure will expand to the whole industry, and have various chain reactions. Hence it is not only a problem when financial crisis occur, it actually will becomes the perpetrator to cause the financial crisis. . Explain the structure, roles and operation of managed funds and identify factors that have influenced their rapid growth. Structure: the variety of assets is wider same as the management styles range. Some portfolios are conservative and some are aggressive. Different structure is aim to achieve different portfolio goals, timeframe and risk tolerance (ASX, 2013). Roles: A management fund is a tool for investors to accumulate wealth. Managed funds can invest in a portfolio rather than a singl e security.The portfolio assets include wide range of financial products like domestic shared, international shares, fixed income securities, unlisted private companies and specialist sectors (ASX, 2013). Thereby the diversification of the portfolio reducing the risk of single security falls. Also managed funds can provide professionally managed portfolio to meet the need of customers who do not have time or the skill to manage (ANZ, 2013). Also managed funds can be bought and sold freely on ASX like share, hence the liquidity risk is low, and if you need money you can immediate trade at current price (ASX, 2013).What is more, it could help start at small, which means investor can invest a small amount of money and reach the same diversification as the large amount money (ANZ, 2013). Operation: Managed funds invest client’s money on the behalf of clients. They generally put same appetite clients’ money together to the selected portfolio (ANZ, 2013). The portfolio asset s include wide range of financial products like domestic shared, international shares, fixed income securities, unlisted private companies and specialist sectors (ANZ, 2013). Factors influence their rapid growth:There are four factors influence its rapid growth. Firstly, entry, exit and ongoing management fees reduce the return (ANZ, 2013). Secondly, diversification can limit portfolio risk but it may also dilute profits (ANZ, 2013). Thirdly, there might be more tax payment compared with funds managed by client themselves, or more adjustments made by the portfolio manager, more tax applies (ANZ, 2013). Fourthly, the owner lost control of the money (ANZ, 2013). Losing control of your money – others may be involved in making decisions regarding where your money is invested. Reference List:ANZ. (2013, March 15th). Managed Funds. Retrieved from: http://www. anz. com/personal/ways-bank/work-life-financial/personal-finance/managed-funds/ ASIC (2012, September). Hedge funds: Improvi ng disclosure. Retrieved from:http://www. asic. gov. au/asic/pdflib. nsf/LookupByFileName/RIS-hedge-funds-published-18-September-2012. pdf/$file/RIS-hedge-funds-published-18-September-2012. pdf ASX. (2013) Managed Funds. Retrieved from http://www. asx. com. au/products/managed-funds. htm Edwards, F. R. (1999) Hedge Funds and the Collapse of Long Term Capital Management, Journal of Economics