The Adventures of Pinocchio :: Books, Film

When a book is made into a movie, certain scenes and overall big pictures sometimes get â€Å"lost in translation.† This certainly is the case for Carlo Collodi’s story The Adventures of Pinocchio. Many things occur in the book that do not take place in the Disney movie Pinocchio, originally produced in 1940, and rereleased in 1992. A possible reason for some of the changes could regard audiences. The Adventures of Pinocchio was written in Italian in 1883. Perhaps that is why the book focuses more on morality and is a teach-you-a-lesson about the consequences of being bad kind of book, while the movie more gently tries to get the same message across by adding and deleting scenes from the original work. A change from book to movie occurs right at the beginning of the film. In the book, Geppetto buys the wood that is to become Pinocchio from Mastro Antonio—a character left out of the movie entirely (1). The movie version begins with Jiminy Cricket, as he is called in the movie, singing about wishing upon stars. In the book, he is known as the Talking Cricket. Pinocchio is already crafted, fitted with marionette strings, and is sitting on a shelf. In the book, as soon as Pinocchio has feet—he is already alive—he runs out the door (6); however, in the movie, Geppetto, who controls him with the marionette strings, dances him around. I find it strange that Geppetto makes the puppet (while he controls him) kick the cat, Figaro—who is not in the original book—causing him to fall off the steps. How does Geppetto expect Pinocchio to be a good boy if at the beginning of his functioning he (Pinocchio) is made to kick innocent cats? After Geppetto dances the puppet around for a bit he goes to bed, but before he falls asleep, he wishes upon a star. He wishes that the puppet was a real boy. The star comes into the window and is a fairy with blue hair. The fairy grants the wish, giving the puppet life. The stipulation the fairy gives Pinocchio is that he can become a real boy when he proves himself and learns to choose between right and wrong. This requirement is the same in the book (55). A difference in this film scene and the book is the appearance of the fairy. In the book, Pinocchio initially sees the fairy much later (32). The Adventures of Pinocchio :: Books, Film When a book is made into a movie, certain scenes and overall big pictures sometimes get â€Å"lost in translation.† This certainly is the case for Carlo Collodi’s story The Adventures of Pinocchio. Many things occur in the book that do not take place in the Disney movie Pinocchio, originally produced in 1940, and rereleased in 1992. A possible reason for some of the changes could regard audiences. The Adventures of Pinocchio was written in Italian in 1883. Perhaps that is why the book focuses more on morality and is a teach-you-a-lesson about the consequences of being bad kind of book, while the movie more gently tries to get the same message across by adding and deleting scenes from the original work. A change from book to movie occurs right at the beginning of the film. In the book, Geppetto buys the wood that is to become Pinocchio from Mastro Antonio—a character left out of the movie entirely (1). The movie version begins with Jiminy Cricket, as he is called in the movie, singing about wishing upon stars. In the book, he is known as the Talking Cricket. Pinocchio is already crafted, fitted with marionette strings, and is sitting on a shelf. In the book, as soon as Pinocchio has feet—he is already alive—he runs out the door (6); however, in the movie, Geppetto, who controls him with the marionette strings, dances him around. I find it strange that Geppetto makes the puppet (while he controls him) kick the cat, Figaro—who is not in the original book—causing him to fall off the steps. How does Geppetto expect Pinocchio to be a good boy if at the beginning of his functioning he (Pinocchio) is made to kick innocent cats? After Geppetto dances the puppet around for a bit he goes to bed, but before he falls asleep, he wishes upon a star. He wishes that the puppet was a real boy. The star comes into the window and is a fairy with blue hair. The fairy grants the wish, giving the puppet life. The stipulation the fairy gives Pinocchio is that he can become a real boy when he proves himself and learns to choose between right and wrong. This requirement is the same in the book (55). A difference in this film scene and the book is the appearance of the fairy. In the book, Pinocchio initially sees the fairy much later (32).

Movie Tehcniques

Film, what do you think of when you hear that word? A motion picture is simply a series of still pictures shown quickly so they stimulate motion. But a film can be so much more than that. It can tell a story, inform people of news, or educate. A film can surprise, aggravate, and inspire the imagination. Some of the necessary skills to analyze how images are constructed, how they create meanings, and how they affect us help us to better understand film as a whole. Throughout the class we watched several films each displaying some different techniques used throughout the films.These techniques help provide a dynamic approach to discover the different meanings that the viewer can receive from the film. In Buster Keaton’s Sherlock Jr. made in 1924, the specific film technique that best stands out is mise-en-scene. Mise-en-scene is the composition or what’s in the scene or frame. This technique includes long take, long shot, and moving camera. A specific example of a scene f rom the film that illustrates mise-en-scene is when Sherlock Jr. (Buster Keaton) is riding on the handle bars of the motorcycle that the theater manager, Gillette (Ford West) is racing around through town on (154).Sherlock Jr. is unaware that Gillette has fallen off and he is performing crazy stunts while on the handle bars with no driver. One of the extreme stunts that he performed is when the motorcycle appears to cross a bridge that is open so it looks like he could plummet to the ground, but just as he is crossing the gap two trucks pass underneath him filling the gap and he safely makes is across. From this account, this powerful scene shows mise-en-scene perfectly. The camera is taking a long take which means that the camera is taking a single unbroken shot that can be moving or stationary.In this case the camera is moving with the action which shows moving camera. The scene also fills long shot which is a shot that shows the full human body, and the camera is also showing the background behind Sherlock Jr. while he racing around town performing crazy stunts. This technique is used to help keep this silent American comedy interesting and the audience intrigued throughout the performance that Sherlock Jr. is presenting. In Sergei Eisenstein’s 1926 film, Battleship Potemkin, the specific film technique that stands out is montage.Montage is different than mise-en-scene instead of long take, long shot, and moving camera it is a sequence of quick shots, showing a condensed series of events. The individual shots put together to cause and emotional or intellectual reactions to the audience. Eisenstein believed that film montage could create ideas or have impact beyond the individual images. He wanted to represent perceptions powerfully more than emotions directly (172). A specific example of a scene that illustrates montage very well is the Odessa Steps scene.In this scene, the Tsar’s soldiers march down a seemingly endless flight of steps in a rh ythmic, machine like fashion. While walking down the steps they are shooting into the crowd of town’s citizens creating a traumatic massacre. There were several victims including an older woman trying to stop the soldiers but she is stabbed with a knife. The next shot is of a young boy that was killed and his mother was protesting for them to help her because her boy had been hurt, but they didn’t even listen and shot her.The next shot flashes to a mother holding onto a baby carriage but she is shot. As she falls to her death she knocks the carriage down the steps. The camera continues to show the carriage tumbling down the stairs and then zooming in on the wheels of the carriage and it quickly plummets down the steps. During these main shots, there were quick shots of other town citizen’s dying and scurrying to get away. This seven minute scene just showed complete and utter chaos.Montage is used for the Odessa Step scene because it allows Eisenstein to manipul ate the audience’s perceptions of time by stretching out the crowd’s flight down the steps. The rapid progression and alteration of images in the sequence gives the audience just a piece from a dreadful nightmare. This sequence of montage sets up the audience to rise up against oppression and the Tsar government. In Orson Welles 1989 film, Citizen Kane, the specific film technique that stands out right from the beginning is mise-en-scene.As explained earlier mise-en-scene is what the director decides to put into the film frame such as lighting, the setting, costume, and the movement and actions of figures appearing within the film. The scene that shows the most powerful and significant mise-en-scene is the first flashback scene set at Charles Foster Kane’s (Orson Welles) childhood home. The scene begins showing Kane in the background, while in the foreground, his parents (Mary and Jim Kane) and Mr. Walter Parks Thatcher (George Coulouris) are discussing his futu re.Kane appears visually trapped within the frames of a window, foreshadowing the way in which he will be â€Å"trapped† into Mr. Thatcher’s guardianship. During the scene, they show a close up of Kane’s facial expression and they fade out to reveal the sleigh, Rosebud, which he was happily playing with moments before. The beginning scene of the flashback of Kane’s happy childhood being given into the hands of Mr. Thatcher illustrates mise-en-scene very well. The scene provides a great example of deep focus, which is the drama within the frame.The director focuses on the foreground with his mother signing the papers, the father in the middle by the door, and young Kane outside the window. The use of mise-en-scene keeps the audience intrigued into who Kane was referring to when he was dying and asked for rosebud. They continue to use long take, long shot, and at the end the moving camera reveals what Rosebud was. By not revealing that Rosebud was the sled from his child hood right from the beginning, the audience stays curious as to who Rosebud really was.In Stanley Donen and Gene Kelly’s 1951 film, Singin’ in the Rain, the specific film technique that stands out is mise-en-scene. When mise-en-scene is applied to film it means everything that is present before the camera, which includes arrangement of props, actors and sets. During the entire film, mise-en-scene was shown through performance of the main characters Don Lockwood (Gene Kelly), Kathy Seldon (Debbie Reynolds), Lina Lamont (Jean Hagen) and Cosmo Brown (Donald O’Connor). These characters would often express their emotions through song or dance.One example of a scene that shows mise-en-scene thoroughly is when Don Lockwood performs the song, â€Å"Singing in the Rain. † The scene starts with Don Lockwood kissing Kathy Selden on the doorstep of the house. This starts off as a long shot before zooming into a close up of the two kissing and they are both under Lockwood’s umbrella, which is a crucial prop for the entire scene. There is a constant rain throughout the scene, which is acknowledged by Kathy who states â€Å"This California dew is just a little heavier than usual tonight,† before she goes back inside.Don then waves away the waiting taxi which has been visible since the start of the scene. Don begins to sing the opening of â€Å"Singing in the Rain. † He then shuts his umbrella and begins dancing down the street, filled with a mixture of houses and shops with displays on the window. Don interacts with almost all of the props like the light pole on the sidewalk and the puddles of water on the road. Two people rush past him hiding under a newspaper, while he dances around them giving them a cheerful wave.Throughout his performance, Don carries an umbrella as some kind of dance partner, and at one point using it as an air guitar. This technique is used in the movie to allow the audience to use the pe rformance to perceive different perceptions and meanings of the images and sound. Mise-en-scene in this specific scene with Don creates a different effect, leaving the audience with a feel good moment. Everyone lives in a different reality and that is why people enjoy watching films. They give insight into the worlds of others.Film directors do their best to portray their characters’ lives and make them as believable as they can. They do this through the different film techniques to help describe the way that meaning is created throughout the film. Many help set up the realism with costumes, setting and performance, while others use a series of quick shots to condense space, time and information. Even though film is just a story or event recorded by a camera as a set of images, when shown to an audience the meanings created helps them to better understand the films overall.

Investment Analysis Using Reuters Financial Database Finance Essay - Free Essay Example

Sample details Pages: 12 Words: 3607 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Standard Chartered PLC is the merging of The Standard Bank of British South Africa and the Chartered Bank of India, Australia and China at 1969. The company headquarter is in London, England and the branches are operating all over the world (Standard Chartered Bank, 2010). They main business strategy is focus on Consumer banking, Wholesale banking, SME banking, Islamic banking and Private banking. Don’t waste time! Our writers will create an original "Investment Analysis Using Reuters Financial Database Finance Essay" essay for you Create order Other than that, Standard Chartered is approaching 3 main principal in their business model that are participate in growing market, positioning as a global leader and effective costs and risks control (Standard Chartered Bank, 2010). Standard Chartered also listed on London, Hong Kong and Mumbai stock exchanges market and it also part of FTSE 100 Index. Standard Chartered tends to come out with large capital for the further expansion to Europe, Asia and Africa. At 2000, Standard Chartered is successful to acquire ANZ Grindlays and it help to enter the market in India and Pakistan. As a result, it brings the huge profit for the companies and strengthens their market position (Yahoo Finance, 2010). Technical Analysis Dow Theory is a type of technical analysis that assumes the stock market movements are rise or fall together and economic trend can be predicted (Copsey, 1999). Dow and Hamilton stated that there are three types of price movements for the Dow Theory: primary movements, secondary movements and daily fluctuations. Primary moves can be indentifying from a few months to several years and it can determine the trend of the market. The primary upward trend market is representing the bull market and downward trend is representing the bear market. Secondary movements are move in opposite direction of the primary trend from a few weeks to a few months. Therefore, the secondary trend movement are regularly more volatile than those of the primary move. Daily fluctuations always go with or against the primary trend and within a few hours to a few days, but not exceed a week (Stock Charts, 2010). Figure 1: Bull Trend from 2003 to 2007 In figure 1, Standard Chartered is on the upward trend during 2003 to 2007. The upward trend price can form a series of rising peaks and rising troughs. Therefore, STAN.L is in bull trend because the price is moves according to the support line. It doesnt move straight upward but has some corrections along the way. Figure 2: Bear Trend from 2008 to 2009 In figure 2, Standard Chartered is on the downward trend during 2008 to 2009 when a bear trend starts at the end of a bull trend. The downward trend price can form a series of declining peaks and declining troughs. Hence, STAN.L is in bear trend because the price is moves according to the resistant line. In a bear market, it is not moving straight downward because secondary movement create rallies in that period. When a rally ends with a bottom low, it shows the end of the bear trend and the rise of the bull trend. In 2010, the red support line is showing the bull trend after 2009 and it might continue for at least few years before the bear trend start. Elliott Wave Theory Elliott Wave theory is a type of technical analysis that uses to predict the market trends and the price patterns. Elliott believed that stock markets follow repetitive cycles because it reflected the investor psychology (Beckman, 1976). Therefore, market cycles are dividing to two separate type of wave: impulsive wave and corrective wave. An impulse wave will contain 5 elements while corrective wave contain 3 elements. The impulse waves are following the direction of the trend for example up in a bull market and down in a bear market, the corrective waves are always move against the trend (Arotec, 2010). Figure 3: Elliot Wave on STAN.L C A B 5 4 3 2 1 In figure 3, the impulse wave for Standard Chartered is follows a bull trend. The graph show that the three waves in the direction of the upward trend (1, 3, and 5) and wave 5 is the end of the bull market because it already achieves the new highest price. After that, the share price fall drastically during 2008 and corrective wave is begin to show the bear trend (A and B). But the wave A seems to be the bottom of the bear trend and wave B continued to rise after 2009 and achieve the new peak compare to wave 5. So, the wave C will fall that predict STAN.L price will drop in the future. Support and Resistance Support and Resistance is a form of technical analysis that driven by the greed and fear forces. In other words, it represents the demand and supply theory. The price of the stocks will move down when the supply increase and the price will move up when the demand increase. In trending market, bull cycle occurs when demand increase and bear cycle occurs when supply increase. Therefore, non-trending market occurs when supply and demand are the same. A support level act as a floor to support the price to going further down and a resistance level act as a ceiling to support the price to going further up (Martinez, 2007). Figure 4: Support and Resistance Line from 2006 to 2008 In figure 4, the trend channel had been draw from 2005 to 2008 to show the Standard Chartered share price is oscillates between the support and resistance lines. The support line has been tested 5 times without being broken but at 2008 the breakout occurred and the share price fell below the support level. So, the bull trend end and the bear trend start. At the end of 2008, the share price drops to the bottom and oscillates between the second support and resistance lines. The share price had moved sideways during 2008 to 2009 and the resistance line has been tested 3 times without broken but at middle of 2009 the breakout occurred. Therefore, the share price rises against the resistance line and achieves the new peak. Chart Patterns Investment analysts always look for the patterns to indicate the direction of the market. There are two major types of patterns that are reversal patterns and continuation patterns. Reversal patterns provide an indication that the market is turning in its primary trend and continuation patterns provide an indication that the market is going continue in the same direction (Dawson and Steeley, 2003). Head and Shoulders (Reversal Patterns) The head and shoulders pattern is a most famous reversal patterns in technical analysis. It is always happened from uptrends to downtrends (bullish to bearish). This pattern includes three successive peaks with the left shoulder, a head, and a right shoulder and a line drawn as the neckline (Osier and Chang, 1995). Figure 5: Head and Shoulders Pattern from 2007 to 2008 Neckline Left Shoulder Right Shoulder Head In figure 5, the left shoulder form at middle of 2007 and marks the high point of the Standard Chartered price of the bull trend. Investors who bought the shares fear that the price has risen too high and might fall. So, they sell STAN.L shares to prevent the profit turn to loss. Bargain hunters soon return to the market and eventually push the price through to new highs that form a head patterns. However, the new highs are quickly turned back and price falling again to the neckline. The advance from the low of the forms the right shoulder because bargain hunters will buy the shares and the market rallies once more, but fails to achieve the previous peak because of the fear. STAN.L shares price fall after it breakout from the neckline at 1290p at middle of 2008. Figure 6: Volume for Head and Shoulders Pattern In figure 6, volume has a greater significance in the head and shoulders pattern. The higher price on the left shoulder will reflect the high volume as it shows on figure 6. However, the volume during the head is less than the volume during the left shoulder. The decreases in volume along with new highs that form the head serve as a warning sign. Bargain hunters are not aggressive then before that can be show on the volume. On the last rallying, volume on right shoulder increase and signalling that the buyers may have exhausted themselves. Standard Chartered share price break the neckline and the pattern is complete. STAN.L share price is falling and the bear market start. Head and Shoulder Bottom or Head and Shoulder Top? Neckline Right Shoulder Head Left Shoulder Neckline Right Shoulder Head Left ShoulderFor the year 2011, the graphs show us that there are 2 possibilities of the head and shoulder top or bottom trend will occur in this graph. Therefore, it depend on the bargain hunters whether they will enter the market to take advantage of profit taking or investors will sell the shares because it reach another peak for Standard Chartered share price. Flag and Pennant (Continuation Patterns) The flag and pennant pattern is a most familiar continuation patterns in technical analysis. There are consolidation patterns and happen after some sharp movement in the price. It only acts in short-term period during the bull or bear markets (Kirkpatrick and Dahlquist, 2007). Figure 7: Flag and Pennant Pattern at Q2 2009 FlagpolegpoleIn figure 7, Standard Chartered share price had a sharp increase and the volume increase drastically in 2009. Then, a pennant appears within 12 weeks after a sharp increase in price and volume. Bargain hunters are not willing to bid up the stock and shareholder enter the market to sell their shares to earn the profit. The flagpole occurs from the sharp advance break a trend line. The form of flags and pennants require a sharp advance or decline on heavy volume. According to figure 7, the volume of STAN.L shares decline after the heavy volume. When the share price break above resistance signals, the pennant is finished and the bull trend continues. MA (Moving Average) MA is type of technical analysis to indicate the trend of the market and help to predict the market turning point. The share price will use as an indicator to form a trend and it do not predict the price direction. A short MA will respond more quickly than a longer period MA (Greene, 2008). Golden Cross Death Cross Golden CrossFigure 8: Moving Average Triple from 2005 to 2010 Death Cross In figure 8, there are 3 moving average line that the red colour represents the 50 period, green colour represent the 100 period and purple colour represent the 200 period of MA. The interaction between 50 day and 200 day of MA can use as an indicator of a switching between a Bull and a Bear market. The golden cross is usually show the start of bull market and death cross is show the start of bear market. In figure 8, the 50 day and 200 day had cross around end of 2006 and Standard Chartered share price is moving up and signifying the start of bull market. It creates the buy signal for the investor to enter the market. Next, the line cross again at end of 2008 and the 200 day MA is moving above the 50 day MA. It shows the death cross and the STAN.L share is falling and start of bear market. It creates a sell signal for the investor to quit the market. At 2009, the 50 day MA is cross against the 200 day MA and the golden cross occur. As STAN.L is on bull trend during 2009-2010, it cre ates the buy signal again and the share price is achieving a new peak. MACD (Moving Average Convergence and Divergence) MACD is a type of oscillator that can measure market momentum as well as follow or indicate the trend. MACD consists of two lines, the MACD Line and the Signal Line. The MACD Line measures the difference between a short moving average and a long moving average. It generates the buy and sell signal. When the MACD Line and the Signal Line cross signals are generated (Stock Charts, 2010). Figure 9: MACD from 2008 to 2010 Buy Bullish Divergence In figure 9, the red colour line is a MACD Line and the green colour is a Signal Line. A buy signal is generated when the MACD Line crosses from below to above the Signal Line, the further below the zero line that this occurs the stronger the signal. The Standard Chartered share is generating a buy signal during 2008 to 2009 when the share price drop to the bottom of the bear market. So, it create the bullish divergence is when prices are making lower lows but the MACD is making higher lows. This is a sign that the down move is weakening and ensuring the buy signal. Figure 10: MACD from Aug 2010 to Dec 2010 Sell Bearish Divergence In figure 10, Standard Chartered PLC share is generating a sell signal during August 2010 to November 2010. A sell signal is generated when the MACD Line crosses from above to below the Signal Line, the further above the zero line that this occurs the stronger the signal. So, the sign of up move is weakening due to bearish divergence occur when prices are making higher highs but the MACD is making lower highs. Consequently, it strengthens the sell signal for STAN.L share. Average Direction Index The Average Directional Index is an indicator for the market whether is trending or moving sideways. The analysis of Average Direction Index is a process of assessing market trend and determines whether investors to decide which is the strongest trends and gain good profits during the strong trend (Option Trading Guide, 2010). Figure 11: Average Direction Index from Aug 2010 to Dec 2010 Sell Buy In figure 11, the red colour line is Positive Direction Indicator (+DI) and the green colour line is Negative Direction Indicator (-DI). If the +DI line is above the -DI line then the trend is up, and if the -DI line is above the +DI line the trend is down. Buy and sell signals are generated by the +DI and -DI lines. If the +DI crosses above the -DI line, this is a buy signal. A sell signal is generated when the -DI line crosses above the +DI line. Standard Chartered share is on the uptrend during early of September 2010 when the +DI line is cross over -DI line and it creates the buy signal. On middle of December 2010, the -DI line is cross over +DI and it show the market is overbought. As a result, investor should leave the market and sell the share due to the sell signal is been create. Fundamental Analysis Ratio Analysis: Value Investing In fundamental analysis, I choose value investing as my stock picking strategy. According to Chan and Lakonishok (2004), value stocks have made higher returns compare to growth stocks. The analyst had done the experiments over the small-cap stocks and large-cap stocks and the result show that value investing is more suitable. It was because value stocks had less effect compare to growth stocks when the stock market in the downturn. There are several studies prove that extrapolative biases in investor behaviour might affect the investment decision. Investors are overbid the prices of growth stocks as the prices of value stocks dropped far below their value based on fundamentals. Therefore, value investing is the best choice for long-term investment strategy. Figure 12: Overview of Standard Chartered Fundamental Analysis as at 14/12/2010 Earning Yield Earning Yield is the ratio of earning per share over the current market price per share. The earnings yield is the opposite of the P/E ratio. It is measure the percentage of each dollar invested in the stock that was earned by the company. According to Graham (1949), he suggests that if the earning yield was double the yield on a low risk corporate bond (AAA rated) the stock represents good value. Standard Chartered earning yield is 6.34% and the 5 years AAA bond yield is 3.35%. So, the earning yield should be 6.68% to meet the criteria. Figure 13: STAN.L PE Ratio as at 14/12/2010 P/E Ratio P/E ratio is the ratio of current share price over the annual earning by the company per share. A high P/E ratio company is expecting higher earnings growth in the future compared to company with a lower P/E. P/E ratio usually do not reflect the real value of the share but it is helpful to compare the P/E ratios of one firm to other firms in the same sector. According to Graham (1949), the stocks with a PE of less than 40% of the market average over the last 5 years will have the large room to growth. Standard Chartered P/E ratio is 15.78% and the overall sector PE ratio is 13.02%. Therefore, Standard Chartered does not fulfil the 40% criteria. Figure 14: 10 year UK bond and STAN.L Fundamental Ratio as at 14/12/2010 Dividend Yield Dividend Yield is the ratio of annual dividends that paid by the company over the current share price. In other word, dividend yield is use to determine the amount of cash flow that the company earn to be invested in its own share. Therefore, for those risks adverse investors that prefer a steady income from their investment portfolio should invest in stocks that paying relatively high and stable dividend yields. According to Graham (1949), a value stock should have a yield at least 2/3 that of AAA rated bonds. Standard Chartered dividend yield is 2.65% and 10 year UK government bond yield is 4.18%. Therefore, the dividend yield should be 2.79% to meet the criteria. Price to Book Value DDM is a share valuation method on the cash flow that receives in the future to find the intrinsic value. In real life, many investors do not believe on DDM because it always produces a negative bias to valuation estimates. Hence, we will use constant growth rate of the dividend or 3-stage model to solve the biasness (Fuller and Hsia, 1984). First, we need to assume the risk free interest rate, expected dividend growth rate, risk premium and periods of dividend growth. For Standard Chartered DDM, we will use the default risk free rate that same as the yield on 10 year UK gilts. According to Goedhart, Koller, and Williams (2002), the risk premium for UK equity market is 3.5% to 4%. The result of DDM is show at figure 18, constant growth rate model has show if the expected dividend growth rate is 7% then the share price is more than the current value. But for the estimate growth rate at 5% or 6%, it show the current share price is overvalue and investors should sell the share. Therefore, a constant growth rate of 7% p.a. might not be realistic in this current economic situation. For 3-stage model, we will assume that the first stage is high stable growth and will last for 5 years, second stage is declining growth that last for 10 years and the last is infinite stable growth. Standard Chartered is on the maturity stage in the business life cycle and the potential to grow is limited because the competition is very high in UK. As a result, for case 1 and case 2 the value of the stock is under the current share price but case 3 is 13.88% more than the current share price. But 15% for the first 5 years is unrealistic and it shows the share is overvalued. From the aspect from technical analysis, Standard Chartered share price is on bull trend according to Dow Theory and Elliot Wave Theory. From the chart patterns, it shows the STAN.L is on head and shoulder top or bottom but we need to determine the volume for the share price in the future to confirm the patterns. Moving average and MACD are produce the sell signal for STAN.L because the share is on the peak compares to historical data. At last, the average direction index also giving the same signal that STAN.L is overbought and it advise the investors to sell the share in the future. From the aspect from fundamental analysis, Standard Chartered share price is testing by the ratio analysis to determine whether the share is undervalued. Standard Chartered is fail on earning yield, PE ratio, dividend yield, P/B ratio, and debt to equity ratio, therefore, the share price is not undervalue. Next, we use target price model to calculate the intrinsic value of the share. So, Standard Chartered share price in target pricing is higher than current price but after our justification the share price is not undervalue because the estimate EPS is too high for current market. The DDM also show that the Standard Chartered share price is overvalue by our estimation for constant growth and 3-stage model. In the nutshell, investors need to decide whether to follow technical analysis or fundamental analysis. Therefore, we need to determine whether the FTSE 100 markets are efficient. If FTSE 100 is weak form efficient market hypothesis, all the historical information will reflect on the share price and analyst cant use technical analysis to do the prediction. Analyst stating that FTSE 100 might be semi-strong form efficient market hypothesis that reveal all publicly available information on the share price and fundamental analysis cant produce any unusual return. Some of the researchers claim that stock market is like random walk that analyst cant predict the share price by historical data. Therefore, Malkiel (1999) is claim that there is no point to do technical analysis and fundamental analysis because the stock prices reflect all the available information that is relevant to the price. But some of the analysts claim that there are some fund managers able to beat the market consistent ly by their stock picking technique. At last, there are many different opinion between practitioners and academics as to how efficient markets and how useful stock picking and the market timing. For my opinion, whether we choose technical analysis or fundamental analysis, we need to determine the result by ourselves. There is no right or wrong answer on which analysis we approach. In this project, the result for technical analysis and fundamental analysis on Standard Chartered share is showing the sell signal, so the investors who have the share should hold the share or sell it in the future.

Why Veins Look Blue Even Though Blood Is Red

Your blood is always red, even when it is deoxygenated, so why do your veins look blue? They arent actually blue, but there are reasons why veins look that way: Skin absorbs blue light:  Subcutaneous fat only allows blue light to penetrate skin all the way to veins, so this is the color that is reflected back. Less energetic, warmer colors are absorbed by skin before they can travel that far. Blood also absorbs light, so blood vessels appear dark. Arteries have muscular walls, rather than thin walls like veins, but they likely would appear the same color if they were visible through the skin.Deoxygenated blood is dark red:  Most veins carry deoxygenated blood, which is a darker color than oxygenated blood. The deep color of blood makes veins appear dark, too.Different sizes of vessels appear different colors:  If you look closely at your veins, for example, along with the inside of your wrist, youll see your veins are not all the same color. The diameter and thickness of the walls of the veins play a part in the way light is absorbed and how much blood is seen through the vessel.Vein color depends on your perception:  In part, you se e veins as more blue than they really are because your brain compares the color of the blood vessel against the brighter and warmer tone of your skin. What Color Are Veins? So, if veins arent blue, you may be wondering about their true color. If you have ever eaten meat, you already know the answer to this question! Blood vessels appear reddish-brown in color. There isnt much difference in color between arteries and veins. They do present different cross-sections. Arteries are thick-walled and muscular. Veins have thin walls. Learn More Color science is a complex topic: Why Blood Isnt Blue: Some people believe deoxygenated blood is blue.Why Babies Have Blue Eyes: Eye color changes over time.Why the Sea Is Blue: Is water blue or is it a matter of reflected light from the sky?Chemical Composition of Human Blood: Just what is blood, anyway? Source Kienle, A., Lilge, L., Vitkin, I.A., Patterson, M.S., Wilson, B.C., Hibst, R., Steiner, R. (1996).  Why do veins appear blue? A new look at an old question.  Applied Optics. 35(7), 1151-1160.

The Science Fiction Genre And Genre Essay - 1781 Words

The science fiction film genre has been around almost as long as movies have, but like the cinema it is still a fairly young art form. This genre came into existence shortly after the invention of the movie camera in 1888 and has endured for over one-hundred years. Science fiction is adaptive; it changes with the times and this trend can be seen in its incorporation of other genres, cultural history and technology. This essay will attempt to define the genre, chronicle the history and evolution, and explore its relation to technology. This is in general and in the cinema. When discussing the science fiction film genre a problem occurs. The distinction between science fiction and other genres is not always clear cut. Many movies span between the science fiction genre and other genres. Movies such as The Ring (2002) or the Alien series (1979, 1986, 1992, 1997) illustrate how the distinction between science fiction and horror films can be obscure. (Telotte 46) Some comedies, such as Mars Attacks (1996) and Back to the Future (1985), are very much science fiction. (Mitchell 133) In fact there is an example of a science fiction film fitting into almost any genre. Starship Troopers (1997) parallels a war film and Outland (1981) resembles a western in many respects. (Telotte 45) The characteristics that define the science fiction genre can be difficult to pin down. A genre such as the western has easily identifiable characteristics such as cowboys, guns, the wild west, and badShow MoreRelatedThe Science Fiction Film Genre Essay1683 Words   |  7 PagesScience Fiction Films The science fiction film genre has been around almost as long as movies have, but like the cinema it is still a fairly young art form. This genre came into existence shortly after the invention of the movie camera in 1888 and has endured for over one-hundred years. Science fiction is adaptive; it changes with the times and this trend can be seen in its incorporation of other genres, cultural history and technology. This essay will attempt to define the genre, chronicle the historyRead MoreThe Science Fiction Film Genre Essay1691 Words   |  7 PagesThe science-fiction film genre serves as an excellent medium for examining shifting power structures, social paranoia and Cold War politics during the 1950s. A number of films released during this period, including: Invasion of the Body Snatchers (1956), The Day the Earth Stood Still (1951), Them (1954) and Attack of the 50ft Woman (1958), are particularly symptomatic of the social and political atmosphere of the time. These films naviga te not only narrative based issues such as the threat of aliensRead MoreDystopian And Other Science Fiction Genres1971 Words   |  8 Pagesother science fiction genres literature often critique society in meaningful ways that give the novels greater depth than might be expected of books written for younger audiences. Recently, â€Å"dystopian novels set in some dark, post-nuclear fallout future have dominated the young adult—better known as YA—bestseller lists† (Donston-Miller). The line between age groups in some of these novels also blur as adults latch on the increasingly complex themes and characters in modern science fiction for youngRead MoreScience Fiction Film Genre Analysis Paper1450 Words   |  6 PagesGenre Definition Paper The science fiction film genre is absolutely the hardest to define. It can easily be confused with or applied to Fantasy films and some horror films as well. Genres are used to identify types of films, and outside of science fiction this is a fairly simple process. A Western is set in the west and has cowboys and Indians. A gangster film has a plot revolving around the mafia. A horror film is centrally purposed to scare the viewer. Science fiction, on the other hand, is notRead MoreA Compare and Contrast of Horror and Science Fiction/Fantasy Genres1777 Words   |  7 Pagesof different genres, but also compare them and understand their purpose in the world. The Horror genre has used the basic principles throughout time, and as a result, films of this type have not proven to be as timeless as another genre: Science Fiction/Fantasy. At first, these two genres might at times seem similar as they have at several occasions been blended together, but their basic, common theme serves diff erent meanings about humans. I shall compare and contrast these two genres and focus onRead MoreStar Wars : A Science Fiction Genre Trilogy2692 Words   |  11 PagesResearch Savon Benally Star Wars Star Wars is a Science Fiction genre trilogy. The stories and ideas of the trilogy were all written by George Lucas. Star Wars was originally a three movie saga. A New Hope was the first movie of the Star Wars trilogy released in 1977. Then a second movie was made sequencing A New Hope, The Empire Strikes Back (1980). Three years later a third movie was made, The Return of The Jedi (1983). With Star Wars originally being a 3 movie saga; a prequel was made with havingRead MoreEssay on How Terminator Two Satisfies the Science Fiction Genre1157 Words   |  5 PagesHow Terminator Two Satisfies the Science Fiction Genre The film, ‘TerminatorÂ’ is part of a trilogy; Terminator 2 is the sequel to the first terminator film- Terminator 1. The auteur, James Cameron, produced the first terminator movie in 1984; and because the film was a big success with a range of viewers- the majority of different genre lovers- , James Cameron had decided to create a sequel, which was producedRead MoreExploring the Film Genres of Horror, Science Fiction, and Action Movies817 Words   |  4 Pagesmovies are, in there own way, great. Practically the excitement of horror movies, and science and technology of science fiction movies, and action and enthusiasm in the action movies are some credits that makes people’s engrossment. Even so could all movies create an entertainment and make people experience their thoughts of imaginations in the real world. What are the most interesting things about these film genres, which could establish a fantasy world for their fans to escape to their imaginationsRead MoreThe Utopia And Science Fiction Genres Of Books, Movies, And Even Video Games1199 Words   |  5 PagesThis idea is often explored in the utopia and science fiction genres of books, movies, and even video games. In 1984, a book by George Orwell, citizens of Airstrip One, which was previously England, are under constant surveillance from th eir government and leader, Big Brother. Nothing in their country is private, even their thoughts are monitored and regulated by their government. Minority Report, directed by Steven Spielberg, depicts a science fiction future where citizens are under constant surveillanceRead MoreOppressive and Repressive Social Institutions, Value Systems and Codes of Behaviour Are Central to the Horror, Science-Fiction and Fantasy Genres. Focusing on 1-2 Examples of Your Choice, Consider How These Genres2841 Words   |  12 PagesOppressive and repressive social institutions, value systems and codes of behaviour are central to the horror, science-fiction and fantasy genres.  Focusing on 1-2 examples of your choice, consider how these genres mediate the ‘problem’ of the social.  How significant is ideology, as well as genre theory, to your case-study? This essay will explore the ways in which the horror genre perpetuates repressive and oppressive social institutions, value systems and codes of behaviour surrounding the homosexual

Concrete Free Essays

The crack widths predicted by the different codes have been calculated for a range of varying parameters: Varying tension reinforcement stress (Figure 9) Varying cover (Figure 10) Varying bar spacing with constant reinforcement area and stress. (Figure 1 1) Varying bar spacing with constant reinforcement area and maximum stress to AS 3600. Figure 12) BBS 5400 results have been plotted using a Ms / MGM ratio of 0. We will write a custom essay sample on Concrete or any similar topic only for you Order Now 1 and 1. All results have used long term values where available. Larger versions of these graphs may be found on the Powering presentation associated with this paper. The following observations can be made from the graph results: The BBS 5400 results using the two different load ratios gave substantially different results, with the higher ratio giving increased crack widths. The BBS 8110 results were either approximately centrally placed between the two BBS 5400 results, or close to the lower values. The Recoded 2 results were usually reasonably close to the mean of the other results. The CUBE-Flip-1990 results were consistently the lowest for high steel stresses and high concrete cover values. Results with varying spacing were close to Recoded 2 results. The IAC 318 results were consistently the highest, being close to and slightly higher than the upper bound BBS 5400 values. All crack widths increased approximately linearly with increasing steel stress Crack widths increased with increasing cover, with Recoded 2 reaching a constant value at 70 mm cover, and the CUBE-PIP code at 35 mm cover. The other codes continued to increase more than linearly up to 100 mm cover. All codes predicted increasing crack width with increasing bar spacing and constant reinforcement area steel stress. Figure 9: Varying tension reinforcement stress Figure 10: Varying cover Figure 11: Varying bar spacing with constant reinforcement area and stress Figure 12: Varying bar spacing with constant reinforcement area and maximum stress to AS 3600. When the steel stress was adjusted to the maximum allowable under AS 3600 (I. E. Reduced for increasing bar spacing and increasing bar diameter) the predicted crack widths were reasonably uniform in the spacing range 50 to 200 mm, then tended to reduce with greater spacing. DEFLECTION The main differences in approach to the calculation of deflections are summarized low: Australian and American codes are based on the Brannon equation, using a uniform average effective stiffness value. Australian codes allow for loss of tension stiffening through a reduction of the cracking moment related to the free concrete shrinkage. Allowance for shrinkage curvature in the Australian codes is simplified and will underestimate curvature in symmetrically reinforced sections. British codes allow only a low tension value for cracked sections, which is further reduced for long term deflections European codes adopt an intermediate approach for cracked sections, tit an allowance for loss of tension stiffening. British and European code provisions for shrinkage curvature are essentially the same Effective stiffness, calculated according to AS 3600, Recoded 2, BBS 5400, and BBS 8110, and with no tension stiffening, is plotted against bending moment for the same concrete section used in the crack width analysis. Figure 13 shows results with no shrinkage, and Figure 14 with a shrinkage of 300 Microscopic. RESEARCH ABOUT THE METHODS USED IN DIFFERENCE CONCRETE STANDARDS AS 3600 limits the maximum reinforcement stress under serviceability loads to a axiom value dependent on either the bar diameter or the bar spacing, whichever gives the greater stress. AS 5100 has the same limits, with an additional requirement to check for lower limits under permanent loads for elements in exposure classifications 82, C or U. Recoded 2 limits stresses in essentially the same way, except that the limits are presented as maximum bar spacing or diameter for a specified stress, rather than vice versa. The Recoded 2 limits are related to 3 different values of nominal crack width, 0. 2 mm, 0. 3 mm or 0. 4 mm, under pseudo-static loading. The applicable crack Edith depends on the exposure classification and type of member. Code Provisions for Crack Width Limits As well as stress limits, Recoded 2 has detailed provisions for the calculation of design crack widths, which are summarized below: The basic formula for crack width: crack spacing x (mean steel strain – mean concrete strain) makes no allowance for variation in crack width between the level of the reinforcement and the surface of the concrete, however the crack spacing is mainly related to the cover depth, and the crack width is directly proportional to crack spacing, so the depth of cover has a significant effect on crack widths. The expression for Seems – ECMA limits the effect of tension stiffening to 40% of the steel strain. For long term effects the tension stiffening coefficient is reduced by 1/3, from 0. 6 to 0. 4. The British concrete design codes specify a design crack width at the surface of the concrete as follows: The basic approach is similar to Recoded 2, except that the crack width is projected from the reinforcement level to the concrete surface. The main differences between BBS 5400 and BBS 8110 are: BBS 5400 includes a factor to reduce the effect of tension stiffening, depending on the ratio of live load moment to dead load moment (Ms / MGM). The effect of this is to reduce tension stiffening effects to zero for a load ratio of 1 or greater. The tension stiffening coefficients are differently formulated. The IAC requirements are based on stress limits derived from the Surgery-Lutz equation: The IAC 318 equation makes no allowance for tension stiffening, and predicts crack width at the upper bound of those studied in this paper. Results are usually similar to those from the BBS 5400 equation using a Ms / MGM ratio of 1 . AS 3600, AS 5100, and IAC 318 AS 3600 and AS 5100 provisions for â€Å"simplified† calculation of deflections are identical other than a typographical error in AS 5100), and are both based on the â€Å"Brannon† equation, which is also used in IAC 318. The equation in IAC 318 is differently formulated, but will give identical results for the same cracking moment and section stiffness values. The AS 3600 version of the equation is shown below: left is calculated for the maximum moment section, and applied along the full length of the member being analyses. The calculation of the cracking moment in the Australian codes (but not IAC 318) includes an allowance for the shrinkage induced tensile stress in the unchecked section, which contributes to loss of tension stiffening: AS 3600 and AS 5100 provide a factor KC , applied to the calculated deflection, to account for the additional deflection due creep and shrinkage: KC = [2- 1. 2(ASS / East)] Note that for a symmetrically reinforced section KC reduces to the minimum value of 0. , being the effect of creep deflection alone. 6. 4. 2 OBSESS,BBS 8110 Deflections in BBS 5400 and BBS 8110 are calculated from integration of section curvatures. The cracking moment and curvature of cracked sections allows for a short term concrete tensile stress of 1 Amp, reducing to 0. 5 Amp in the long term. Shrinkage curvatures in BBS 8110 are determined from the free shrinkage strain, and the first moment of area of the reinforcement about the cracked or unchecked section, as appropriate. BBS 5400 uses a similar approach, but tabulates factors based on the compression and tension reinforcement ratios. 6. 4. 3 Recoded 2 and CUBE-PIP 1990 (MAC 90) The European codes also provide for calculation of deflections by integration of section curvatures, but provide a different expression for the stiffness of cracked sections: Shrinkage curvatures are assessed using a similar method to that given in BBS 8110: How to cite Concrete, Papers

Drawbacks of the Common Law System free essay sample

Explain the drawbacks of the common law system in England and Wales. ‘Common law’ originated in England in the 11th century. Today in the United States of America, some common law principles from the original English Law are being applied. Alongside it is the branching body of Common Law which is in the process of being set as a part of stare decisis which itself is an abbreviation of the Latin phrase ‘stare decisis et non quieta movere’ which translates as ‘to stand by decisions and not to disturb settled matters’, whereby the judicial systems decisions and interpretation of statutory law provisions by judges, are becoming a part of the common law. Judges too do look to these decisions as a guideline, reference or as a necessary precedent to follow, whilst making their own decisions. Although advantages of the system have been significant in England and Wales, drawbacks of the system gradually came on par. We will write a custom essay sample on Drawbacks of the Common Law System or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page As these decisions are based on past cases, predictability of the outcome increased and people are more exposed to what should be expected, however so, with the element of predictability, absurdity on deciding cases may occur. In referring to a decided case, if there appears to be no change and the decision is followed again by a judge, a bad decision will eventually be perpetuated. And considering common law systems have been following precedents as a base, changes takes a long time to happen. In the meantime, a bad decision from a past case continues to be upheld. It became a major criticism of common law systems that it can be hard to locate the relevant principles due to the available volume of material. Common law which was based on the principle of binding precedent meant that judges must follow precedent even if they disagree with it. Judges too were not able to distinguish essentially similar cases although they were on grounds decision made would be inappropriate. Lord Denning too criticised the doctrine to stand by what has been decided by saying, â€Å"if lawyers hold to their precedents too closely, forgetful of the fundamental principles of truth and justice which they should serve, they may find the whole edifice comes tumbling down about them. Just as the scientist seeks for truth, so the lawyer should seek for justice. Just as the scientist takes his instances and from them builds up his general propositions, so the lawyer should take his precedents and from them build up his general principles. Just as the propositions of the scientist fail to be modified when shown not to fit all instances, or even discarded when shown in error, so the principles of the lawyer should be modified when found to be unsuited to the times or discarded when found to work injustice. , which in other words meant accepting the decisions of old law leads to unfairness and injustice. Furthermore, when precedent appears absent the common law legal system will be bound to face difficulties in making judgements. Difficulties will arise and flood various parties which include judges and those with intention to claim justice will be at lost with the unavailability of a decided precedent to refer to. This has been said on certain occasion to lead to a high degree of unpredictability based on illogical distinctions.