Durango Street :: essays research papers

Durango Street Durango Street is a novel by Frank Bonham. He writes about a young boy who lives in an extremely bad neighborhood. His name is Rufus Henry. Rufus was in a correctional camp for stealing a car. In the camp he met a friend named Baby. Baby lived where Rufus's mother had moved. Baby got released a little bit before Rufus and then went on to his home "the flats." Rufus was left out from camp with a parol officer. His parole officer tells him not to get involved with gangs but Rufus knows he has to join a gang to survive. He runs into one of the local gangs The Gassers, and gets into a little fight with them and the leader Simon Jones. He gets away in good condition, but knows that The Gassers are goin to be looking for him. So he finds his friend Baby and joins the gang The Moors. Rufus gets beat up into the gang, and soon after takes over. He beats up the leader Bantu. Rufus the takes contorl of the gang. The rival gang knows about this, and then beats up Rufus's little s ister. Rufus then gets back at them and beats up the gang and blows up there car. He then meets up with a man named Alex Robbins. The man is a social worker who "sponsors" or helps gangs. They have meetings every week and talk about The Gassers and ideas they have. Alex suggests to go to the local football team (TheMaurders) and watch them train. Little did Alex know is that Rufus has an obsession with their star running back Ernie Brown. Ernie is actually Rufus's father, but no-one knows except Rufus and his mother. Simon Jones steals Rufus's book of Ernie Brown that he keeps in secret and in provate. Simon then reads it in front of everyone how Ernie is really Rufus's father. This makes things with the gangs very hostile. The Moors then meet these two girls named Nonie and Jannet. They talk with the gang and convince them to throw a graduation dance. The gang rounds up some money and has the dance. The Gassers try to ruin it by setting off smoke bombs in the ventalation systems, but the dance is not spoiled but turned out great. After the dance Rufus and Alex talk about Rufus going back to school, and they end off with a nice smile.

Positive and Negative Advances in Biotechnology Essay

Biotechnology and the research associated with it have become an issue in which people either support, or are against. Technological advances in this day and age have given scientists the ability to do things that were only dreamed about in the past. Research has given them the ability to find cures for diseases, to allow people to live longer with new medications, and also to solve crimes that may have been unsolved due to a lack in technology. Biotechnology has given humanity a great deal of advances with new discoveries, but some may think it’s a privilege that is being abused. I believe that biotechnology is one of the greatest discoveries that mankind has achieved this past decade. It has led the way to maintain and improve the quality of life we live. Biotechnology has very positive effects and is encourage by many people, although there are many laboratories who have taken the power of science and used it for purposes that are selfish, unethical and unnecessary. Biotechnology has proved to change the lives of many people, it has given those suffering from diseases a chance to live their life without the fear they are going to die. Eliminating a disease or at least controlling its symptoms is the greatest breakthrough that we have yet seen. Medical biotechnology has helped those with cancer combat it and live worry free, it has prolonged the lives of those who may have already had death wishes. Currently the use of plastic artificial body parts, a fairly new concept, has allowed people to maintain their lifestyle without interruptions or fear of death. Its given doctors the ability to get a heart beating again once it has stopped. The fact of genetic testing has eased many minds in hopes they will not have any lifelong health problems. Although testing can reveal problems and then worry them more. I believe that the worry is worth it because you are now aware of possible health risks and can live your life accordingly. In reading â€Å"Tinkering with Destiny,† there was a statement that I thought was very bothersome relating to the issue of genetic testing. Eleni, the mother of the family suffering from cancer had said, â€Å"If I had  known I carried the disease, I never would have gotten married and had children† (517). People who think this way have limited knowledge of life and would rather make their life pointless and worthless than try to overcome an obstacle they are presented with. How would she feel if her mother never had her? HIV and AIDS are still the greatest threat affecting many in the gay community, as well many heterosexuals. I understand the fear people may have in getting tested because when I first decided to get tested I worried for days until I got the results and was very happy in knowing I was perfectly healthy. Even if I had been infected I would still want to be aware to prevent passing it to others and change my life accordingly. Research in this field has come a long way in lengthening the lives of these ill-fated individuals who unfortunately know they eventually will die because of this disease. Although there is no cure yet, biogenetic research will play a large part in solving this horrible epidemic. Many of these medical advances are results of researchers who should be applauded for the work they do. Improving and maintaining a person’s life is the greatest gift someone could receive, it would not be possible without research. It is not only the medical field or improving human life that biotechnology is greatly appreciated for, but also in the use of crime solving and forensic work. Blood and other bodily fluids has been a great help in solving crimes which the offenders may believe is a â€Å"perfect crime,† where they won’t be caught. It has not only helped solving crimes, but solving crimes from the past where the technology was not available to do DNA testing. In reading William Tucker’s story, â€Å"DNA in court,† he mentions â€Å"From its inception, DNA profiling has implicated the guilty and exonerated the innocent in a way that was previously unthinkable† (579). Imagine how thankful an innocent person sitting in jail is to the person who had the idea to test DNA samples found at the crime scene. As well the guilty can now be properly punished for crimes they commit. Watching many court cases, I have learned that a crime is always traceable with the use of techno logy, its amazing how a crime can be solved because of skin cells found under the victims fingernails, which lead investigators to the offender. We have seen all the good that biotechnology can offer but there are individuals and laboratories that take advantage of modern science and use it for purposes that should be outlawed or at least strictly regulated. The big controversy has been with cloning and altering the genetics of babies, also called â€Å"designer babies.† It is my opinion that the parents that go along and encourage such research are acting in their own selfishness and vanity. Birth is a natural process and should not be altered in any means except if it is to treat the child for any problems. What is the purpose of cloning and choosing your child’s characteristics? Isn’t the whole joy of childbirth to see what two people made? Imagine all the heartbreak parents would have if their baby came out all disfigured? Also, if the idea of making your own baby was possible, would the parents be held liable if the child’s characteristics are not what he/she wanted? Could the child then sue for such an improper selection? The whole idea is absurd and the government should forbid it. It is these researchers who will later be responsible for any wrongdoing as a result of this sort of experimentation. The researchers believe in fact they are doing a good thing for mankind, they get so caught up in their work that they believe they are providing a need for humanity. This was especially seen in â€Å"Brave New World† when Huxley wrote about the director of the research facility who believed his work was very important. He said, â€Å"You should see the way a negro ovary responds to pituitary! It’s quite astonishing, when you’re used to working with European material.† Reading this passage gave me the feeling this person believes they are of a high status and how he must be so involved in his work that he can become upset when someone mentions something other than what he believes. The idea of living forever is something we sometimes see in movies, but it is now being researched to see if such a thing is possible. Imagine that, living forever, again messing with nature and the creation of God. If should a thing were possible we could stop the evolution of humans and prevent any future for anyone or us. Scientific research for ideas such as these and the government funding they receive is wrong. Government money should be used for important purposes such as healing the sick and improving and  maintaining human life. Biotechnology is a fairly new concept and I believe it should be fully encouraged for meaningful purposes but not because of vanity and selfishness. We should not tinker around with the greatest gift that god gave us, life. Perhaps some of the biotechnological advances not related with medicine or crimes are okay, but they should be strictly regulated. There should be some sort of ethical code of conduct of what should be allowed by law and what is not. We are in an age for many great advances, before its too late we should consider what is necessary to research. What is the difference if a child has blue eyes versus brown eyes anyway?

Portfolio Theory And Capital Pricing Model Are Essential Finance Essay - Free Essay Example

Sample details Pages: 5 Words: 1506 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? Portfolio Theory  is a theory of  investment  which try to maximize portfolio expected  return  for a given amount of portfolio risk, or evenly minimize  risk  for a given level of expected return, by carefully choosing the proportions of various  assets. The expected return on a portfolio is calculated on the stocks which comprise the portfolio. The weights reflect the proportion of the portfolio invest in the stock. Don’t waste time! Our writers will create an original "Portfolio Theory And Capital Pricing Model Are Essential Finance Essay" essay for you Create order This can be expressed as follows: Where: = expected return on the portfolio = number of stocks in the portfolio =the proportion of the portfolio invested in stock i = expected return on stock i For a portfolio consisting of two assets the equation can be express as: Portfolio Theory also assumes that investors are risk averse, meaning that given two portfolios that offer the same expected return, an investor will prefer the less risky one. Thus, an investor will take on increased risk only if it gains higher expected returns. Conversely, an investor who wants higher expected returns must accept more risk. The exact trade-off will be the same for all investors, but different investors will evaluate the trade-off differently based on individual risk aversion characteristics. The implication is that a rational  investor will not invest in a portfolio if a second portfolio exists with a more favorable  risk-expected return profile. According to Portfolio theor y, investors should focus on the significance of diversification to reduce the total portfolio risk, but they also learn how they can effectively diversify. Portfolio theory has had a marked impact on how investors perceive risk, return and portfolio management. The theory demonstrates that portfolio diversification can reduce investment risk.In other words Portfolio Theory  of Investment  highlights  the importance for an investor not to invest in one stock but to invest in a Portfolio of stock and bonds and Treasury Bills so that he can minimize risk and maximize his return given his risk preference. As well,  Portfolio Theory  of Investment can be used if one knows the beta of stocks to calculate the expected return of equity using the Capital Asset Pricing Model, which is essential to evaluate capital budgeting decision making. That is,  Portfolio Theory  of Investment is the basis of the Capital Asset pricing Model and is used in modern financial management of a c ompany. Capital Asset pricing Model (CAPM) on its part provides an expression which relates the expected return on an asset to its systematic risk (Systematic risk is a risk of security that cannot be reduced through diversification).The relationship between is known as the security market line (SML) equation and the measure of systematic risk is called the Beta. The CAPM define systematic risk as beta. In the CAPM model, because all the investors are assumed to hold the market portfolio, an individual asset owned by an investor will have a risk that is defined as the amount of risk that it adds to the market portfolio. Systematic and unsystematic risk: Systematic risk  is due to risk factors that affect the entire market such as investment policy changes, foreign investment policy, change in taxation clauses, shift in socio-economic parameters, global security threats and measures whereas unsystematic risk  is due to factors specific to an industry or a company like labor unions, product category, research and development, pricing, marketing strategy. Risk, standard deviation of return% Unsystematic risk (unique risk) Total systematic risk risk (market risk) The greater is the systematic risk, the greater is the return expected out of the asset. The relationship between the expected returns and systematic risk is what the CAPM explains. The Security Market Line Equation is as follows: Where: = the expected return on asset i = the risk-free rate =the expected return on the market portfolio = the beta on asset i = the market risk premium The graph below depicts the SML. The SML is equal to which is the market risk premium and the SML intercepts the Y-axis at the risk-free rate. SML I In capital market equilibrium, the required return on an asset must equal its expected return. Thus, the SML can also be used to determine an assets required return given its Beta. The Beta ( for a stock is calculated as follows: Where: = the covariance between the return on asset I and the market portfolio = the variance of the market portfolio Variance = Where: N=the number of states = the probability of the state i =the return on the stock in state i = the expected return on the stock The beta of the market portfolio equals 1 and the beta of the risk-free asset equal to 0 An assets systematic risk therefore depends upon its covariance with the market portfolio. The market portfolio is the most diversified portfolio as it consists of every asset in the economy held according to its market portfolio. Capital Market Line: R Levered portfolio of risky assets E M all the wealth is in risky assets L some wealth is in risk free assets All the wealth is in risk-free asset The formula of capital market line is as follows: E The CML results from the combination of the  market portfolio  and the risk-free asset (the point L). All points along the CML have superior risk-return profiles to any portfolio on the  efficient frontier, with the exception of the Market Portfolio, the point on the efficient frontier to which the CML is the tangent. From a CML perspective, this portfolio is composed entirely of the risky asset, the market, and has no holding of the risk free asset, i.e., money is neither invested in, nor borrowed from the money market account. The following are some assumptions that underlie the CAPM model. Zero transaction costs. The CAPM assumes trading is costless so investments are priced to all fall on the capital market line. If not, some investment would hover below the line- with transaction cost discouraging obvious swaps. But however, many investments involve significant transaction costs. Homogeneous investor expectations. The CAPM assumes invests have the same beliefs about expected returns and the risks of available investments. But there is massive trading of stocks and bonds by investors with different expectations and also that investors have different risk preferences. Thus it may be that the capital market line is fuzzy amalgamation of many different investors capital market lines. Beta as full measure of risk. The CAPM assumes that risk is measured by the volatility (Standard deviation) of an assets systematic risk, relative to the volatility of the market as a whole. Somehow investor face other risk such as inflation risk which mean that returns may be devalue by the future inflation and also liquidity risk that is investors in need of funds or wishing to change their portfolios risk profile may be unable to readily sell at current market prices. Moreover standard deviation does not measure risk when returns are not evenly distributed around the mean. ADVANTAGES OF THE CAPM: It generates a theoretically-derived relationship between required return and systematic risk which has been subject to frequent empirical research and testing. It is generally seen as a much better method of calculating the cost of equity than the dividend growth model (DGM) in that it explicitly takes into account a companys level of systematic risk relative to the stock market as a whole. It considers only systematic risk, reflecting a reality in which most investors have diversified portfolios from which unsystematic risk has been essentially eliminated. DISADVANTAGES OF THE CAPM Problems can arise when using the CAPM to calculate a pr oject-specific discount rate. For example, one common difficulty is finding suitable proxy betas, since proxy companies very rarely undertake only one business activity. The proxy beta for a proposed investment project must be disentangled from the companys equity beta. One way to do this is to treat the equity beta as an average of the betas of several different areas of proxy company activity, weighted by the relative share of the proxy company market value arising from each activity. However, information about relative shares of proxy company market value may be quite difficult to obtain. In order to use the CAPM, values need to be assigned to the risk-free rate of return, the return on the market, or the equity risk premium, and the equity beta. Conclusion Portfolio theory and Capital Asset pricing Model are important for managers as well as investors as it helps them in their decision making and a good decision making in its turn will allow then to gain more in term of return. It will also allow them to know the level of risk associated with an investment and generally the greater the risk the higher the return should be. However the CAPM is not perfect but its spirit is to provide a usable measure of risk that helps investors determine what return they deserve for putting their money at risk and in order to be successful, an investor must understand and be comfortable with taking risks.   Creating wealth is the object of making investments, and risk is the energy that in the long run drives investment returns.