An Article on Facebook from the Times of India Essay Example for Free

An Article on Facebook from the Times of India Essay For once, I was ahead of the curve, and, having rarely been in this exalted place, I can tell you it feels good. The backlash against Facebook, the social networking site, has begun, with rumblings of discontent being heard from distant corners of the globe. Word is going round that it is time-wasting, trivial, and a pathetic substitute for meeting friends in person. This is precisely what I have been saying to my friends all along but they used to recoil in horror as though declining to open a Facebook account was like refusing to bathe. They muttered darkly about certain people being pig-headed. I was reated like a Luddite, vainly holding out against penicillin or the electric kettle. Every time i asked them what exactly was so wonderful about this site, they gave the same feeble answers. Oh, its a great way to keep in touch. You can post your photos on it. Through the links to other peoples pages, you can see what your ex-boyfriends or ex-husbands are up to. Well, according to me, this is a waste of time. I can barely keep in touch with the friends who really matter to me four to five at the most, at any given stage in my life much less maintain an online relationship with old college friends or colleagues from years ago. If one has never bothered to make contact with them in all these years, its because one has never needed or particularly wanted to. It means that they dont matter hugely to me now. They did then, but now im in touch with another set of friends. My life is full enough with them. If one has a spare few hours, one would rather meet a friend over coffee or wine. That real-time, face-to-face conversation is contact, not exchanging trivia online. Why would i want to see a friends holiday snaps when i can barely summon up enough interest in my own to get them developed? Few things, bar waiting for milk to boil, are as boring as other peoples holiday pictures. Much as i love my friends in various parts of the world, im perfectly content with a broad brush update. An occasional e-mail telling me they are fine, their teenage son hasnt become a drug dealer and their dogs arthritis is better is fine with me. Any more detail is redundant. I assume they are equally uninterested in the daily mundaneness of my life and that is exactly as it should be. Even assuming i wanted to sign up, i would never have the time. If i, blessed with two maids and only one child to look after, cannot find the time to go on this site, how do millions of others, particularly those in the West who have many household chores, do so? hurry! No wonder companies are banning this site. God knows what it is doing to global productivity. But even outside work, dont people have to walk the dog? Check up on an elderly aunt? File their tax returns? The Facebook phenomenon has confirmed yet again what we have always known that human beings are sheep. They see someone going off in one direction and they follow blindly for no apparent reason beyond the comfort of numbers. All my efforts at persuading my 12-year-old son not to get onto Facebook failed. I spoke cogently about the charm of being different, of having the moral strength to resist peer pressure, of the infinitely greater pleasures of reading, but my efforts failed. His school friends looked at him as though he had gone soft in the brain. As for twitter, dont even get me started. The very name cutesy and twee irritates the hell out of me. Facebook and twitter are fads. Like all fads, theyll end up in the dustbin, not of history, but of historys footnotes.

Impact of Harriet Beecher Stowes Uncle Toms Cabin :: Uncle Toms Cabin Essays

Harriet Beecher Stowe was born on June 14, 1811, in Connecticut. She was the seventh child of a famous protestant preacher. Harriet worked as a teacher with her older sister Catharine, at the Hartford Female Academy. She was also an established writer. She helped support her family financially by writing local and religious periodicals. Harriet began writing when she was young, beginning with poems, travel books, and children’s books, and eventually writing adult novels. Her first adult novel that she wrote and published was Uncle Tom’s Cabin. She wrote Uncle Tom’s Cabin in 1852, after the Fugitive Slave Law was passed. Uncle Tom’s Cabin is a controversial book that Harriet wrote on her feelings of slavery. The story focuses on the harsh reality of slavery and the main character, Uncle Tom, a suffering black slave whose Christian love and faith overcame enslavement. Uncle Tom's Cabin was the best-selling novel of the 19th century, and the second best-selling book of the century after the Bible. 300,000 copies of the book were sold in the first year after it was published. Harriet being a sworn abolitionist, her views and comments written in the book helped start the Abolitionist Cause in the 1850’s. The book also spread many stereotypes about African-Americans, such as Mammy (slang for mother), Pickaninny (slang for a black child), and Uncle Tom (slang for a black servant faithful to his white master or mistress). The impact of the book was so great, that before the Civil War, President Abraham Lincoln wanted to meet Harriet. When he finally met her in 1862, he said, â€Å"So you’re the little woman that wrote the book that made this big war!†. Uncle Tom’s Cabin, however, had a greater impact in England than it did in America. The first London edition of the book came out in May, 1852, and sold over one million copies. The biggest reason it was more popular in England than America was because of British antipathy to America. One remarkable writer from England explained that "The evil passions which 'Uncle Tom' gratified in England were not hatred or vengeance [of slavery], but national jealousy and national vanity. We have long been smarting under the conceit of America--we are tired of hearing her boast that she is the freest and the most enlightened country that the world has ever seen. Our clergy hate her voluntary system--our Tories hate her democrats--our Whigs hate her parvenus--our Radicals hate her litigiousness, her insolence, and her ambition.

Kosovo Movement

Kosovo served as a centre of Serbian kingdom with old Serbian monasteries and Serbian Eastern Orthodox Churches. These survived the harsh ottoman rule until 1912, when there was liberation. Large number of Serbs hard firm attachment to Christian faith thus, opposed the conversion to Islam. This made them to leave Kosovo region because of fear of persecution by the Turkish. The Albanians settled in their places and their number increased. Kosovo Problem. The problem faced by Kosovo is the highly increasing Albanians population. The population increasing rate outweighed the industrial growth, despite heavy investments on the region. Many efforts have been made to develop the regions especially the Yugoslav Federation to no success. The region continues to become poor, and remains the poorest region in Yugoslavia. An extensive autonomy was given to the Albanians with the aim of enhancing development, only to understand that the autonomy was abused by the Albanians since they used the autonomy to clear the Kosovo habitants who were non-Albanians. The Albanians aim of when clearing the Kosovo region of the non-Albanians was to start up a succession process as they needed to be greater Albania. The Albanians in Kosovo are self satisfied, small political classes of Western Europe. The Albanians claim that they are solving the problem selling drugs illegally, and carrying out other illegal activities in the west, and the income got from the trade, are used to cause more disaster in the region, since they purchase illegal weapons, which they used in the conflict and continued spreading terror throughout the region.( Booth, 2001). The conflict had inter-ethnic tensions in Balkans and despite how much the Serbian tried to find ways of implementing peaceful solution, the Albanians never cared.  The west have tried to use many method to solve problem, but most of the methods they used, and especially the ancient methods are aimed at getting chances to access the great mineral resources which the region owns. This explains why the Americans supported the Albanian terrorists. Important Actors and their interests The Milosevic acted in the Kosovo tragedy. He had power over the Kosovo region, and his interest was to control and clear the Kosovo autonomy. The Albanians in Kosovo lost their jobs, their access to school, and health care was limited, and they lost administrative control. He also had interest in creating Greater Serbia, and to clearing the minority from the region. The Kosovo Albanians responded against the Milosevic power, where they created a parallel civil administration, and other social facilities such as schools and health care facilities. Under the leadership of Ibrahim Rugova, the Kosovo Albanians resisted the Milosevic regime in a non violent way, where they applied Gandhian tactics. The Kosovo Albanians’ interest was to have their rights considered, because despite the frequent periodic reports made by human right investigators, and International diplomats who investigated the gross and systemic human rights violations, Milosevic continued to violate their rights. After the failure of non violent demonstration, the Kosovo Albanians decided to use violent demonstration. The Kosovo Liberation Army joined the fight against Milosevic, and the army publicly asked for help from the entire community. The crowd provided overwhelming support, but the Serb had a disproportionate retaliation responds. The conflict between the Serb and the KLA continued, and revenge was persistent. The human rights continued to be violated, with no intervention, instead the Milosevic increased the military to clear KLA. The Contact Group intervened, with the interest of enhancing negotiations between the two groups and subsequent signing of peace plan. The Contact group required the KLA to disarm, Milosevic to reduce his military, and to restore autonomy, and to have NATO peace keeping force to be implemented. This brought more conflict because the Kosovo needed full independence guarantees, while the Milosevic wanted total control over the Province and the people, so they could not allow a new military force in the Province. The NATO joined the fight with the aim of enhancing the signing of the peace plan, and threatened to bomb Serb if they failed to sign. Kosovo signed after a delay, but Milosevic refused to sign, and continued to destroy Kosovo. NATO launched air campaign targeting the Serb military. Milosevic fought the NATO, and the Kosovo population in respond. (Ruga, 2007). Why does this conflict exist? The Kosovo conflict exists because of the existing form of revisionism which has prevailed for many years among the critics of Kosovo population desire for independence. This has been caused by failure of scrutiny, ignorance, racism, culture and religion. The various sides are guilty of varying degree, and mall the actors have failed in one way or the other. No actor wants to be held responsible of the conflict, despite the fact that each of the actors has played a role in the conflict. Serbia blames the Serb security force of the 1998 and 1999 massacre. The Kosovo Albanians explains their innocence by convincing people that they flew from their land to be refugees because of the fear of NATO bombing (Loyd, 2007). This has led to continued conflict in Kosovo. References: Booth, K (2001) Kosovo Tragedy. New York: Routledge. Loyd, A (2007) Kosovo deserves its independence, Retrieved April, 2008, from http://www.timesonline.co.uk/tol/comment/columnists/guest_contributors/article3037002.ece Ruga, G. (2007)   History of Kosovo war, Retrieved April, 2008, from http://www.friendsofbosnia.org/edu_kos.html.      

Analysis Of The Stock Market Supported by The Concept of Efficient Market Hypothesis - Free Essay Example

Sample details Pages: 10 Words: 2922 Downloads: 1 Date added: 2017/06/26 Category Marketing Essay Type Analytical essay Level High school Did you like this example? Introduction: From the last several decades the efficiency of stock market has been the sole purpose of research studies. As a result, several theories have been introduced and implemented in relation to principally how the competition in the stock market will force the known information into the prices of securities. The knowledge of information on a variety of securities that are traded in the market is one of the major factors in influencing the movements of stock market. Don’t waste time! Our writers will create an original "Analysis Of The Stock Market Supported by The Concept of Efficient Market Hypothesis" essay for you Create order In the stock market, a securities price tends to move rise and fall depending mainly on the availability of the information. The stock prices in the efficient market correspond to available information and therefore register any rise or fall mainly when recent and unpredictable information is available. The up and down in the security prices largely depends upon the advantages and disadvantages associated with the available information and to what extent it will affect the companys performance which is represented by the security. As it is very difficult to tell whether the information available is useful or not, in the same way it is quite impossible to make predictions about the trend of the stock market, such that whether there will be an upward or downward trend in the near future by using the available information. In the financial market it is not mandatory that all professionals related to market always possess the information about the securities and have skills to evaluate t his information for their gain. The only thing the efficient market requires is that few individuals must have the information about securities and as a result of the information supplied by them, the whole market must be well informed and benefitted. Hence the available information plays an important role in determining the efficiency of the stock market. By focussing on the above idea, the concept of Efficient Market Hypothesis has been developed and became one of the most concentrated and debatable topic among professionals and people related to finance and stock market studies. RESEARCH AIM: The main aim of my research is to analyse the efficiency of stock market supported by the concept of Efficient Market Hypothesis. It also aims to depict the impact of the Efficient Market Hypothesis on security trading by reviewing the available literature. RESEARCH QUESTIONS: My research aims to answer the following questions: To what extent the available information, according to the concept of Efficient Market Theory, affects the security trading in stock market. What is insider trading and its impact on the efficiency of stock market. What are the various types of anomalies associated with the stock market and their effect on the stock market efficiency. LITERATURE REVIEW: In this part of my research paper I will re-examine the existing literature on the anomalies and the efficiency of the stock market. An efficient market is defined as a market where there are large numbers of rational, profit-maximizers actively competing, with each trying to predict future market values of individual securities, and where important current information is almost freely available to all participants. In an efficient market, competition among the many intelligent participants leads to a situation where, at any point in time, actual prices of individual securities already reflect the effects of information based both on events that have already occurred and on events which, as of now, the market expects to take place in the future. In other words, in an efficient market at any point in time the actual price of a individual securities already reflect the effects of information based both on events that have already occurred and on events which, as of now, the market expects to take place in the future. In other words, in an efficient market at any point in time the actual price of a security will be a good estimate of its intrinsic value.(Eugene F. Fama 1965) According to the Efficient Market Hypothesis, given by Fama, the ups and downs in the prices of securities in the financial market totally reflect known information at a specified period of time. In other words, Efficient Market Hypothesis states that the trading of securities by the individuals is always carried out purely based on the assumption that securities worth are always more or less than the price offer by market. Whereas, trading of securities trying to outperform the stock market will be luck instead of professional skills if current prices fully reflect all available information as well as stock markets are efficient. According to this hypothesis if new information is revealed about a firm it will be incorporated into the share price rapidly and rationally, with respect to the direction of the share price movement and the size of that movement. (Elearn -NetTel) . Efficiency is an unclear word in itself so for more clarification, in my dissertation, I will describe all types of efficiencies: operational, allocation and pricing. I will also give full detail on levels of market efficiency : weak-form efficiency, semi-strong form efficiency and strong-form efficiency. According Random walk theory , there are no trends and format that are being followed by the prices of securities in stock market. There is another fact given by this theory which says that the prices of securities in the past can not be useful for future predictions and fluctuation in prices. The Efficient Market Hypothesis and anomalies related to the stock market developed by the researchers always contrasts with each other. The search for anomalies is effectively the search for systems or patterns that can be used to outperform passive and/or buy-and-hold strategies. (Invest Home) . With the invention of any anomaly, there is always a kind of exploitation by the investors of the anomalies discovered in order to increase their profit. This practice make the anomaly disappear with the passage of time. There are so many internal and external factors of the entities that affects the operations of stock market and those factors are often known as Anomalies which plays an important role in over performing or under performing the operations of the stock market by taking into consideration the fact that these anomalies have good or bad effect on the prices of stocks and entities. There are different types of anomalies and some of the anomalies are discussed. Fundamental Anomalies: First type of anomaly is fundamental anomaly which basically depends upon the price of the stock and on the past performance of the entity due to which stock prices rises or fall. Several anomalies of these kinds exist related to the growth, present value and profitability of the companies concerned. Under fundamental anomaly, there exist a most historical and famous anomaly named Value investing and is regarded as the most appropriate strategy for investment purposes. These anomalies depend on the stock value and companys performance based on which the stock prices go up or down. A technique used is to divide the given index into high price and low price to book value stocks. The low price to book concept was developed by Eugene Fama and Keneth French favouring the hypothesis that lower risk is attached to value stocks whereas the stocks with growth are attached with higher risk. According to another anomaly named as low price to sales, stocks with low price to sales ratio perform better then high price to sales ratio. According to James P. O Shaughnesey, prices are the only strongest determinant of excessive return. There are several studies which advocates that stocks having low P/E ratio always perform better in the market as compared to stocks with high P/E ratios. In the same manner, the stocks with high dividend yield are better performers than stocks with low dividend yields. There are some other stocks named as neglected stock and are chosen by those with the contrarian strategy. A study was conducted by F.M DeBondtand Richard Thaler on 35 best and worst performer stocks between 1932 and 1977 in New York Stock Exchange and came out with the result that the performance of best performer stocks in the stock exchange falls whereas the stocks with bad performance in the past showed better results when compared to the results of the same stock in the past. Technical Anomalies: Another types of anomalies in which past prices and statistics are used to predict the prices of securities are known as technical anomalies. The techniques used in these types of anomalies include strategies related to support and resistance, moving averages and strength. Some researchers are against the method of technical analysis and say that the investors are hardly benefitted from these technical analysis techniques where as some researchers argue that there is enough evidence and facts that are sufficient to say that the technical analysis method is favourable for the investors. According to technical analysts, the selling of stocks is influenced by the resistance level whereas the buying is influenced at the support level. A signal to sell the stock is developed in case the support level is penetrated by the price whereas a signal to buy the stock is produced in case price penetrated the resistance level. According to the conclusion made by William Brock, Josef Lakonishok, and Blake LeBaron, the outcomes are reliable with technical rules having forecasting power. But at the same time the cost related to transaction must be taken into account before implementing such concepts and strategies. Another conclusion given by them says that the stock returns generating is more complicated and different process as compared to the results obtained by conducting different studies and researches using various linear models. Calendar Anomalies: Calendar anomaly is another type of anomaly in which various effects are included. In January effect, general and small stocks perform abnormally better in the month of January. Philippe Jorion and Robert Haugen say that, the January effect is, perhaps the best-known example of anomalous behaviour in security markets throughout the world. An interesting fact about January effect is that it lasted for nearly two decades whereas any anomaly hardly survive as traders start taking advantage of the anomalies which results in vanishing of anomaly. Another effect named Turn of the Month was founded by Chris R. Hensel and William T. Ziemba, according to which, in between period 1928 to 1993, the returns for the turn of the month performed well and considerably greater than normal performance. According to study, those investors who make regular purchases may be benefitted if they make schedule to do the purchasing at the end and prior to the starting of next month. In addition to these eff ects another effect is known as Monday effect and is considered to be the worst day in stock market if investments are made on this day. According to study conducted by Lawrence Harris, the week end effect occurs during first 45 minutes of buying and selling whereas prices shows upward trend during the first 45 minutes of trading on all other days. This kind of anomaly may occur due to moods and behaviour of people after weekend holidays. Other Anomalies There are certain other facts that are responsible for affecting the operations of stock market. The size effect, announcement based effect, IPOs, Stock buybacks, insider transactions and S and P game. According to Fama and French (1992), the book to market ratio as well as the size capture the cross-sectional variation of average stock returns in NYSE, and Nsdaq securities. A complete investigation of book to market was provided by Tim Loughran in relation to dimensions of firm size, exchange listings etc and experimental findings of French and Fama are basically forwarded by two features of the data which includes relatively low returns on small, new and growing stocks. Srinivas Nippani, Augustine C. Arize study three main US corporate bond market indices by taking into account calendar based anomalies between the years 1982-2002. In the analysis, the whole bond market as well as two broad classes of industries namely industrials and utilities were taken into account. The stud y find the mixed response for the weekend effect in the overall bond index and industrial index whereas very less response to utilities index. The findings showed definite proof of January effect on the bond market. RESEARCH METHOD AND DATA: Data Collection Methods: The general idea of business research is that it is concerned with collection of data, making questionnaires and then analysing and evaluating the collected data. In addition to this, the identification of problem and the approach needed to solve the problem is also important. (Ghauri et al., 1995). Data sources are often referred to as the carriers of data information. Basically data sources are divided into two categories namely primary data and secondary data. Primary data is concerned with the interviews and observations collected while conducting research project where as, secondary data is collected by others and academic and non academic sources are included in this type of data. In my topic of research which is to study the efficiency of stock market, I want to use the Desk method that is secondary data collection method. This includes the gathering of information from sources like books, journals related to my topic of research, and from electronic media like internet w hich is one of the major sources of information. These all sources of information will be helpful for the accomplishment of my research. DATA SOURCES: As I have already describe that I will use secondary method in my dissertation so I have to search a lot for this topic and for this search my main resource is FBES (Faculty of Business, Environment and Society) which provides the best online business information services which is also including the digital management library. Some of the main sources (journal databases) for my research area are given below: EBSCO Business Source. Business Source Premiere. Emerald. Science Direct. NetLibrary. Overall these cover hundreds of journals, and give access to up to a million journal articles. EXPECTED OUTCOMES: While reviewing all the information from available literature on efficient market hypothesis, operations of stock market, price fluctuations and the anomalies of stock market, I have come to the conclusion that the following outcomes could be possible and predictable from my research, If the stock market is efficient then no information can play any role in making any change towards the performance of stock market. The efficient market hypothesis is expected to take any of the following forms which are weak, semi-strong and strong which purely depends upon the availability, and trueness of the past and present information about the stock concerned in the stock market. The anomalies like technical anomalies could be of great help to the researchers and analysts to predict the changing trend in the prices of stocks in the stock market but the transaction cost is the cause of concern while using such technical method. There are some other stock market anomalies which purely depend upon the internal and external factors of the entity and may result in fluctuations in the stock market. The anomalies related to stock market exist for short period of time but function against the concept of efficient market hypothesis and in my research I will find out the facts relating to the vibrations in the stock market as a result of these anomalies. LIMITATIONS AND EXPECTED DIFFICULTIES: While conducting my research I have to face certain difficulties and limitations which may occur during the course of my research. As my research involves the collection of secondary data, I have to be quite aware of the limitations that may arise due to the nature of data. Some of the limitations that are possible are as follows It could be possible that the theory and data we collected for our research is unclear and is not helpful for the companies in their decision making. It is important to check the source of the information as it could be wrong and misleading. It is possible that the theory is quite old for studies and research purposes in todays rapidly developing world. The theory may not be fit for application due to development of new and technological methods and techniques used for the analysis. REFERENCES: Chris R. Hensel and William T. Ziemba (1996)Investment Results from Exploiting Turn-of-the-Month Effects, Journal of Portfolio Management 22, 17-23 Elearn NetTel Financial Analysis Revised: Session 1: Market Efficiency [Online] Available From: https://cbdd.wsu.edu/kewlcontent/cdoutput/TR505r/page4.htm Eugene Fama and Kenneth R. French (1992)The Cross-section of Expected Stock Returns, The Journal of Finance 47, 427-465. Eugene F. Fama (1995) Random Walks in Stock Market Prices, Financial Analysts Journal 21, 55-59. Ghauri, P., Gronhaug K and Kristianslund I., (1995) Research methods in business studies a practical guide Hempstead: Prentice Hall Investor Home Historical Stock Market Anomolies [Online] Available From: lt;https://www.investorhome.com/anomaly.htm James P. OShaughnessy (1998) 2nd edn. What Works on Wall Street: A Guide to the Best-Performing Investment Strategies of All Time. New York: McGraw Hills Lawrence Harris (1986) A Transaction Data Study of Weekly and Intradaily Patterns in Stock Returns, Journal of Financial Economics 16, 99-117 Loughran Tim (1997)Book-to-Market across firm Size, Exchange, and seasonality: Is There an Effect? Journal of Finance Quantitative Analysis 32, 249-268 Marc R. Reinganum (1997) The Size Effect: Evidence and Potential Explanations, Investing in Small-Cap and Microcap Securities, Association for Investment Management and Research, 1997. Robert Haugen and Philippe Jorion, (1996)The January Effect: Still There after All These Years, Financial Analysts Journal, January-February 1996. Srinivas Nippani and Anita K. Pennathur (2004) Day-of-the-week effects in commercial paper yield rates. Quaterly Review of economics Finance 44, 508-520 Werner F.M. DeBondtand Richard Thaler (1985)Does the Stock Market Overreact? The Journal of Finance 40, 793-805.