Hedging an Equity Portfolio Coursework Example | Topics and Well Written Essays - 2000 words

Hedging an Equity Portfolio - Coursework Example Zero cost collars can be defined as a strategy which is created by buying a put and selling a call in the same underlying security so that the strike price of the call gives rise to the exact amount of profit to negate the loss in the put option, so that the underlying scenario leads to neither loss nor gain. This action or strategy is mostly used by the bullish traders or investors who anticipate always a rise or a hike in value of the underlying securities and thus the investors want to protect their position by offsetting the excessive rise in prices by putting a collar or a ceiling and simultaneously creating a put to offset the hike in prices leading to profit. The zero cost strategy is mostly carried out using LEAPS options. The profit of the zero cost collars can be calculated by using the formulae- Purchase price of the shares – strike price of the call whereas the minimum loss can be a stock price at the beginning- strike price of put-/+ net credit or debit on trade.T he zero cost collar can be used to protect the investors investment effectively since utilizing this strategy we can mitigate the losses completely and even if the investor is a bullish trader then the zero collar strategy can be used to even reduce the amount of price hike or value hike in the case of the afore mentioned underlying securities. We have taken the date on 3/7/2014. Thus we have shown the strike price, sale price of the call and sell price of put of FTSE 100 index.

Telenursing in Health Care Essay Example | Topics and Well Written Essays - 1000 words

Telenursing in Health Care - Essay Example From this research it is clear that  a healthcare center can never be successful without the implementation of information system and communication technologies because of their role in improving the system of healthcare delivery. Telenursing facilitates and improves communication between patients and healthcare professionals. Many patients are in such condition that needs them to stay at their homes where they can get medical and psychological treatment together. Moreover, elderly patients also prefer to stay at their homes during treatment because they feel more comfortable being at home. â€Å"As most elderly people prefer home care to residential care, the nursing profession must change its current practice†. Under such circumstances, the role of telenursing becomes more influential as nurses have to examine the health status of patients while being at distance from them. In addition to this, telenursing has also found its place in healthcare settings because of its role in improving the quality of life of patients.This paper stresses that nurses have the most dominant role to play in telenursing as they are the ones who have to interact with distant patients through video calling to examine their current health status, as well as to prescribe treatment to them. Nurses and patients come in direct contact through telenursing system. Patients speak about their feelings and health status based on which nurses recommend a change or continuation of the treatment.

International Standards for Financial Reporting Case Study

International Standards for Financial Reporting - Case Study Example Looking first to Profit Ratios, the investment analyst would take interest in the return on invested capital that is a measure of profits earned on the capital that is invested in the company. The profit ratios would inform an investor about the reliability of the company in the use of its resources. The more reliable and efficient a company the more profitable it will be. ROIC is of value as a benchmark for Morrisons or other investors to compare the company to compete in the marketplace, as well as to compare subsidiary companies that Morrisons envelopes (Hill and Jones C3). Over time, profit ratios can show if a company’s performance is improving or declining. There are many types of profit ratios, for Morrisons, the Return on Investment Capital ratio (ROIC) will be analyzed: ROIC = Net profit/Invested capital   = â‚ ¤ 93.4 million (over 25 weeks)/ â‚ ¤ 3, 662.4 million Thus, profits were down, before tax being â‚ ¤ 61.5 million. Although the overall financial re sult was disappointing for Morrisons in 2006, achievements were made; so it was a period of dramatic changes. Benchmarking has had a strong focus at Morrisons over the past financial year, and a range of company labeled products has been adapted and extended to meet market demands. Also, the retraining of almost 90, 000 Safeway employees has led to progress in the contributions of experience, skills, competencies, and knowledge that are of deemed value to the Morrisons team (Morrisons’ Annual Report 5).  Ã¢â‚¬â„¢ Annual Report 5). It appears from the Annual Report published by Morrisons, that ROIC weaknesses are being buffered by a

The impact of human activities on sharks in the northwest atlantic Essay Example for Free

The impact of human activities on sharks in the northwest atlantic Essay The earth is a finite space. Everyone and everything on it must share its vast yet limited resources, and the actions of one species effects many, if not all, others. Over time, we have come to realize that human activities are having disproportionately negative effects on the global environment. An excellent example of this within the marine biome can be seen in analyzing shark populations of the Northwest Atlantic. In their study, â€Å"Collapse and Conservation of Shark Populations in the Northwest Atlantic† (2003), Julia K. Baum, et al. traced the changes in the populations of eight shark species from 1986 to 2000 (two species were only recorded from 1992 onward). They looked at the areas comprised of the â€Å"Caribbean, Gulf of Mexico, Florida East Coast, South Atlantic Bight, Mid Atlantic Bight, Northeast Coastal, Northeast Distant, Sargasso/North Central Atlantic, Tuna North/Tuna South. † In this region, they noted an 89% decline in the hammerhead shark population over a period of 14 years. Similarly, white sharks declined 79%, tiger sharks 65%, and thresher shark populations declined by 80% between 1986 and 2000. In fact, each of the eight species saw a population decline over the course of the study. The study concludes that â€Å"The magnitude of the declines estimated†¦suggests that several sharks may also now be at risk of large-scale extirpation. † The study goes on analyse the causes of such drastic decline over such a short period of time. Citing overfishing as a significant culprit it claims, â€Å"In the past half century, as fishing fleets expanded rapidly in the open ocean, have large marine predators been subject to this intense exploitation. † Overfishing however is not a new phenomenon, and has indeed been a factor in depleting populations of marine species historically as well. In his 2001 colloquium paper, â€Å"What was natural in the coastal oceans? † Jeremy B. Jackson cites 19th century overfishing in cause â€Å"live coral abundance declined to 1-2% cover from values of 50% or more† in the 1908s. He claims that while this was noted in the 1980s it is the result of historical trends by determining, â€Å"Coral communities did not change noticeably until the epidemic mortality of Diadema antillarum in the 1980s because ecological redundancy of herbivores obscured the potential effects of the loss of large herbivorous fishes for well over a century. Macroalgae were not able to overgrow corals until the last major herbivore was lost from the system. † The ramifications for sharks and other carnivorous species as is significant because declining herbivore populations means there is a food scarcity and thus will result in a decline in predator populations as well. The Baum study notes that their finding of â€Å"large and rapid declines†¦are in addition to substantial historical reductions. Overexploitation of elasmobranchs (sharks, skates, and rays) is known to have already nearly eliminated two skate species from much of their ranges. † They then engage in a discussion of appropriate measures that could be adopted to counteract the declines their study revealed. They particularly examine marine reserves an â€Å"increasingly popular tool for marine conservation and resource management worldwide† (2002). Using â€Å"simple models to analyze the implications of large-scale marine reserves for shark conservation. They ran each of these models with two likely scenarios â€Å"(i) after the closure, fishing effort is displaced and changes such that the same total swordfish quota is caught (constant-quota scenario); or (ii) fishing effort is displaced but remains constant overall (constant-effort scenario). † Surprisingly, the study found that â€Å"marine reserves can indirectly cause harm if fishing effort is merely displaced. † They found that while closing one region of the study area benefited some species of that region, it had the potential to harm other species both within the closed region and in other regions of the Northwest Atlantic. Their findings suggest that â€Å"if marine reserves are to be effective, their placement is of critical importance, and conservation initiatives must explicitly consider impacts on the whole community of species. † They concluded that â€Å"emphasis on single-species conservation, without controlling effort, simply shifts pressure from one threatened species to another and may actually jeopardize biodiversity. † This scenario would be much like that of 19th century overfishing in that its results would be indirect and thus their effects might immediately be masked but could show up to be catastrophic in the long-term. A more recent study further indicated that ensuring species survival would require a 40-80% reduction in fishing mortality, and that â€Å"rapid recovery of community bio-mass and diversity usually occurs when fishing mortality is reduced. † This recovery was noted to be â€Å"more variable for single species, often because of the influence of species interactions. † Thus, the study concluded that multi-species management must be targeted toward the needs of the most sensitive rather than the most robust species in the system. Finally, in order to most effectively aid in the recovery of predator species of the Northwest Atlantic, the effort must include â€Å"reductions in fishing effort, reduction in bycatch mortality and protection of key areas to initiate recovery of severely depleted communities† (Myers Worm, 2005). Analysis the potential outcomes of any activity is significant because all human activity, not just actions determined to have a negative effect such as fishing, affects the environment. Even activities whose goal is to benefit another species can have unforeseen ramifications, some of these could even result in further harm to the species or environment they are seeking to aid. Rather than merely rushing to the conclusion that marine regions should be designated as reserves, it is important to examine not only the effects on one species, but look to the larger biome and scrutinize the impact that one variable is likely to have on countless other factors with which it interacts directly and indirectly. Within the finite space of the earth, any one action regardless of its intent is likely to reverberate throughout the environment and especially be felt within a specific region or biome. Thus, humans must consider all of there actions when working with the marine biome so as to ensure the least possible harm to its species and the larger world in general. References Baum, J. K. , Myers, R. A. , Kehler, D. G. , Worm, B. , Harley, S. J. , Doherty P. A. (2003).Collapse and Conservation of Shark Populations in the Northwest Atlantic, Science, 299 (5605), 389-392. Halpern, B. S. and Warner R. S. (2002). Marine Reserves Have Rapid and Lasting Effects, Ecology Letters, 5, 361-366. Jackson, J. B. C. (2001). What Was Natural in the Coastal Oceans? , Procedures of the National Academy of Science U. S. A. 98, 5411-5418. Myers, R. A. , Worm, B. (2005). Extinction, Survival or Recovery of Large Predatory Fishes, Philosophical Transactions of the Royal Society B: Biological Sciences, 360 (1453), 13-20.

Te Tiriti o Waitangi and its application in social services

Te Tiriti o Waitangi and its application in social services Explanation of Te Tiriti o Waitangi and its application in social services Te Tiriti o Waitangi can be used in the social services through the application of four principle of the treaty, which are Partnership, Protection, Participation, and Permission. Partnership – in this principle the social service providers ensure that all the services they provide are bi-cultural in perspective. Also, the social service organizations ensure that the needs of Maori clients are taken into consider in terms of interaction with them and creation of policy that may affect Maori. For instance, before engaging with a Maori client, the social worker should build rapport and trust through effective and therapeutic communication. The social worker must provide consultation to the Whanau of the client then include them in the decision making of the client. Protection – in this principle the social service organization needs to respect the rights of every Maori client to enjoy their treasured resources. Maori clients have the right to make their own choices with regard to their cultural traditions and customary practices. Their rights should be acknowledge in order to protect them all the time. For instance, Maori clients are ensured that they are safe at all times like in consultation. They are given the freedom to speak Te Reo Maori. Participation – in this principle, Maori clients are ensured to participate at all times. They should be consulted with regard to the important matters that can impact their well being and life. For instance, the social service providers must ensure that they have consulted the whanau of the client before implementing any plan for the client. Permission – Maori client should be asked for their permission if they wanted to speak Te Reo Maori and if they wanted to participate in any Maori spiritual and cultural practices. For instance, the social service providers must ask permission if the Maori clients and their whanu would like to practice their culture like karakia, kai, powhiri and mihi when organizing a whanau hui. TASK 2 TASK 3 TASK 4 TASK 5 Application of social service theory Te Tiriti o Waitangi The social service provider committed, observed and practiced their services with regard to the four principles namely Partnership, Protection, Permission and Participation. These principles helped me build a strong relationship while working together with a Maori client, empowering and protecting Maori Tinorangatiratanga. For instance, social worker must observe and consider cultural practices, values, and beliefs of a Maori client and his Whanau when conducting whanau hui. The rights of Maori client must be observed and respected in terms of the services available and decision-making process to encourage autonomy of every Maori client. Social work service Users Clients were given the essential information with regard to their rights as a client thus, equality, fairness and quality services can be provided. This can build trust and rapport to clients in which I and the social worker established to have with the client and whanau. For instance, social service provider ensures that the rights of the client and his whanau are being acknowledged and practiced during the whanau hui. In addition, the gathered information about the client and his whanau must be treated as confidential and safe through documentation and avoiding open disclosure to other personnel not involved in the case. Social work ethics This serves as a guidelines and principles for social work practice to act and to work professionally and ethically to client and his whanau. This ensures boundaries and accountability of the social worker to every clients and whanau involved. For instance, social worker is well equipped and knowledgeable about ones role whenever rendering services to client and whanau. Social worker is aware of the responsibilities and obligations in the social work practice. In addition, social worker must maintain veracity and honesty to all clients and whanau in order to deliver safe social work practice. Reference: Aotearoa New Zealand Association of Social workers: Social Work Practice. (2012). Backgorund of the Code of Ethics. Retrieved from http://anzasw.org.nz/social_work_practice/topics/show/157-background-of-the-code-of-ethics Hayward, J. (n.d.). Appendix: The principles of The Treaty of Waitangi. Retrieved from http://www.justice.govt.nz/tribunals/waitangi-tribunal/treaty-of-waitangi/tribunals/waitangi-tribunal/documents/public/treaty-principles-appendix-99 Te Ara. (2013). Story: Kaumatua – Maori elders and their role. Retrieved from http://www.teara.govt.nz/en/kaumatua-maori-elders/page-1 Te Ara. (2013). Story: Maori feasts and ceremonial eating – hakari. Retrieved from http://www.teara.govt.nz/en/maori-feasts-and-ceremonial-eating-hakari

Teaching and Learning Online: Reflection

Teaching and Learning Online: Reflection Teaching and Learning Online In this reflection, I will capture a few of my thoughts that have changed my views the most. Although there was far more that I reflected on in my learning journal, I will focus on the main topics that interest me to take forward into my teaching. I found the initial orientation between different tools confusing, as I had been using Blackboard for everything previously. Moving to Canvas was good as it has a friendlier feel, less institutional, more laidback, which helped in feeling freer to informally chat. This helped create a sense of community. The wiki was initially overwhelming, now, as there are all the course materials and assignments kept there, I see it as a fantastic repository of shared knowledge, I shall use this idea in the future on teacher training courses. I was tentative about the online sessions as I had previous negative experiences of these and wondered if it was ever possible for the technical aspects to be overcome as Schrum Hong (2002 b) say, minimizing technical difficulties is very important, I felt this myself and at the start of the course, this experience can lead to a feeling of foreboding about online sessions. After the first synchronous session, I bought a new web camera and contacted my ISP to check all my connections. This worked well for me, as I was able to join the next sessions, albeit tentatively, and the technical problems were fixed. This was a huge relief and meant that I could follow and participate in the sessions. The effect of this meant that where I was originally much more at home with an asynchronous environment, I now started to see the real benefits in synchronous sessions, not least the social, community building aspect. I think that the technical aspect of online learning must be given a lot of tho ught and any use of new tools must also include clear guidelines or help in how to use them. As I progressed through the course, I noted in my journal times when I felt that the literature and course activities were overlapping, which led to several mini epiphanies. For me, this lead to a deeper understanding of the subject as I was reading the theoretical background and acting it out at the same time. Schrum Hong (2002 a)’s recommendations was a paper I found very helpful. The way that it is set out forms an excellent framework for thinking about how to organize online courses and in looking through these at the end of the course, I was able to see that they were all part of the course. Vicarious learning was quite revelatory for me; it gave a name to something I had been aware of. This somehow made it a more acceptable way of being an online learner and made me reflect on the fact that all learners are different, and while participation is a key factor in learning online, students can participate in different ways. On the forum I noted that â€Å"I found the Sutton (2001) paper very interesting from the point of view of reflecting on my own learning in online environments. I think that it would be difficult to categorise myself as either a direct interactor or vicarious interactor, as I use both aspects to greater or lesser extents. I think that the context does influence which one I am at any given time.† I was not previously aware of this category, the vicarious interactor, and would have put it down to social anxiety or shyness. This has never really sat well with me before, as I am not especially shy or introverted in social situations, and do not feel intimidated by posting my own opinions online. However, I can see that I have many traits of the vicarious interactor. I like to observe and process direct interaction, often before interacting myself and I do learn from the actions of others. I find it useful to reflect on my learning style and I think that this also plays a big part in my teaching. This is especially true when I am involved in teacher training, I like to observe the actions of participants, and draw threads and ideas together. I think that this works well when cultivating a social learning environment. As stated by Garrison Cleveland-Innes (2010), interaction plays a central role in any educational experience, and online learning is no exception. I had previously noted in my journal that I felt that there were two types of online learning, one where the teacher taught a class online, through a tool such as Adobe Connect, that would be similar to a lecture, and one where the teacher used an LMS to provide learning materials and was fairly hands-off after that. I now started to think that the teacher needs to be more active in monitoring progress and reacting to emerging needs, and also to act as a facilitator to the social experience. The idea of flexible learning as proposed by White (2006) and Collis Moonen (2008) was something that resonated with me. I had previously noted in my journal that I thought that one of the key factors in online learning for me was good quality learning materials. While I still agree with this view, Collis and Moonen (2008) said that learning situations need to be flexible and adaptable and White (2006) talks of making sure that learners receive sustained attention. On reflection, I think that this is a large part of teaching online. In the classroom, students expect the teacher to give them attention and to provide personalized learning according to their needs. I had tried out a number of MOOCs and always gave up due to the sheer size of them. Many of the materials were excellent, but I just did not engage with the course. I realize that this was one of the factors in my failure. I found that the framework proposed by Collis Moonen (2008) of the before, during and after activities one that could be easily and effectively transferred to my teaching context. Many teachers in my organization lack technical know-how and appear unwilling to try out new ideas. This framework can quite easily be adapted as many teachers use a similar lesson framework for activities such as listening comprehensions. This could be an excellent way of getting teachers to start working on using online learning with their students, probably with an emphasis on a blended learning approach. Word count: 1,081 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ References Collis, B. Moonen, J. (2008) The Contributing Student, Computers in the Schools, 19:3-4, 207-220 Garrison, R. Cleveland-Innes, M. (2010) Facilitating Cognitive Presence in Online Learning: Interaction Is Not Enough, American Journal of Distance Education, 19:3, 133-148 Minocha, S. Roberts, D. (2008) Laying the Groundwork for Socialisation and Knowledge Construction within 3D Virtual Worlds, ALT-J, Research in Learning Technology, Vol. 16, No. 3, September 2008, 181–196 Moore, M.G. (1997) Theory of Transactional Distance, in Keegan, D., ed. Theoretical Principles of Distance Education (1997), Routledge, pp. 22-38. Schrum, L. Hong, S. (2002 a) Dimensions and Strategies for Online Success: Voices from Experience and Educators, JALN Volume 6, Issue 1 July 2002 Schrum, L. Hong, S. (2002 b) From the Field: Characteristics of Successful Tertiary Online Students and Strategies of Experienced Online Educators, Education and Information Technologies 7:1, 5–16, 2002 White, C. (2006) Contribution of Distance Education to the Development of Individual Learners, Distance Education, 26:2, 165-181 Sutton, L.A. (2001) The Principle of Vicarious Interaction in Computer-Mediated Communications, International Journal of Educational Telecommunications, 7(3), 223-242 Electronic Submission Form – Version 1.0

Thomas Hobbes and Jean-Jacques Rousseau Essay -- Philosophy Philosophi

Thomas Hobbes and Jean-Jacques Rousseau Thomas Hobbes and Jean-Jacques Rousseau developed theories on human nature and how men govern themselves. With the passing of time, political views on the philosophy of government gradually changed. Despite their differences, Hobbes and Rousseau, both became two of the most influential political theorists in the world. Their ideas and philosophies spread all over the world influencing the creation of many new governments. These theorists all recognize that people develop a social contract within their society, but have differing views on what exactly the social contract is and how it is established. By way of the differing versions of the social contract Hobbes and Rousseau agreed that certain freedoms had been surrendered for a society’s protection and emphasizing the government’s definite responsibilities to its citizens.   Ã‚  Ã‚  Ã‚  Ã‚  Each political theorist agrees that before men came to govern themselves, they all existed in a state of nature. The state of nature is the condition men were in before political government came into existence, and what society would be if there was no government. In relation to this the two theorists raised as much praise as criticism for their famous masterpieces.   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Hobbes and Rousseau created a revolutionary idea of the state of nature. They did not believe government should be organized through the church, therefore abandoning the idea of the divine right theory, where power of the king came directly from God. Starting from a clean slate, with no organized church, Hobbes and Rousseau needed a construct on what to build society on. The foundation of society began with the original state of nature. Hobbes’ perception of the original state of nature is what would exist if there were no common power to execute and enforce the laws to restrain individuals. In this case, the laws of the jungle would prevail: only the fittest survive. Man’s desires are insatiable. Since resources are scarce, humankind is naturally competitive, inevitably creating jealousy and hatred, which eventually leads to war.   Ã‚  Ã‚  Ã‚  Ã‚  The constant state of war is what Hobbes believes to be man’s original state of nature. According to Hobbes, man cannot be trusted in the state of nature. War among men is consequent and nothing can be unjust. Notions of justice and injustice or right and wrong will not hav... ...ons on what kind of government should prevail within a society in order for it to function properly. Each dismissed the divine right theory and needed to start from a clean slate. The two authors agree that before men came to govern themselves, they all existed in a state of nature, which lacked society and structure. In addition, the two political philosophers developed differing versions of the social contract. In Hobbes’ system, the people did little more than choose who would have absolute rule over them. This is a system that can only be derived from a place where no system exists at all. It is the lesser of two evils. People under this state have no participation in the decision making process, only to obey what is decided. While not perfect, the Rousseau state allows for the people under the state to participate in the decision making process. Rousseau’s idea of government is more of a utopian idea and not really executable in the real world. Neither state, h owever, describes what a government or sovereign should expect from its citizens or members, but both agree on the notion that certain freedoms must be surrendered in order to improve the way of life for all humankind.