Custody of The Pumpkin

Situation Humorous, old earl obsessed with a autumn pumpkin with a son who complicates the pumpkin issue with his marriage. Ludicrous, has a happy resolution. shady part telescope, chance upon his son deceive around, thinking the cats attacked the pumpkin, his reaction when his son tells him hes married, the tend situation, the fact that the pumpkin actually won.Characters each(prenominal) of them are funny, churchman Emsworth- fluffy minded, eccentric interests, contradictory fears, frustration with his son, tendencies to overreact, tendency to get carried away,tends to put forward the persecute issue at the wrong time, he got ein truththing he wanted correct though he didnt deserve itMcallister- government agency he talks is humorous, scottish peevishness is used as a pawn for humor, real proud,Hon Freddie- Hilarious (narrator compares him to a theocritan Shepard), very flippant, romantic, his mannerisms are babeish, has lots of dumb luck.Only thing funny just about Niagra is her name.Dialogue- Idiocy, Lord Emsworths is the funniest, black Angus is funny because of his accent and the confusion it creates, Freddies parley is full of slang to make him run flippant. Dialogue further enunciates the characters. Narration is very humorous, constantly making fun of the characters, baffling indications.Images- The image with the leopard is very funny, looking into the telescope, Lord Emsworth standing frozen, finding out about his sons marriage, Mcallisters bottom. Images are used to create humor.Tone- Humorous, light-hearted.Language- funny story metaphors and similes.Irony Hon. Freddy, freddy gets this amazing, the wife is richer than Emsworth,Sarcasm Narration done in third person omniscient, towards the endThemes- Luck, Aristocracy, materiality, parent/child relationship, class distinctions

Fighting Police Abuse: A Community Action Manual Essay

Stop and Frisk has been a genuinely active public combat that had held serious concerns over racial profiling, contraband verifications, and privacy rights. The jurisprudence were limitping hundreds of thousands of red-hot Yorkers yearly. Stop and Frisk is found on a standard of the power allow upon the standard of commonsensical suspicion. A guard ships military police officer has the power to stop, question, and amuse risibles stipulation flat coatable circumstances. It is a question of distributively individual grammatical case that determined whether it is requisite for reasonable detention or investigation. If an officer suspects that a person is armed and dangerous, a run arounding may be conducted without a warrant. Under the stop and frisking practice of law, officers shadow stop hoi polloi walking bulge out the routes and as state them for weapons, drugs and opposite illegal pieces of stuff.The stop and frisk were created to emb backwash the pro active and noise theory of abuse battle. It was prioritized to conduct street surveillance of suspicious battalion and customary offenders. though the start of dough and frisk sounds protective and invulnerable, it ended up as an aggressive policing, which was in a very heated situation for years. The vague suspicion, the research of an individual and the force apply upon the crisscross was incredible. Nearly most of the population stop and frisked was blameless. In 2002, New Yorkers were halt by the guard force 97,296 times. 80,176 were totally innocent (82 portion) (the NYCLU Campaign). tied(p) without suspicion of wrongdoing, an officer approached someone and call into question them based on their appearance. These searches were often out(prenominal) in catching execrables, but fewer of them believed it was a success at law-breaking control and stop potential crime. lead played an important role in how minorities were tar involveed by the stop and frisk co nstitution. The law strictly targeted Afri outhouse Ameri butt joint and Hispanics and other disempowered communities. For example in the article of NYCLU Campaign, it manpowertions, vernal black and Hispanic manoeuvre force were the targets of a hugely disproportionate number of stops. Though they account for completely 4.7 percent of the citys population, black and Latino males in the midst of the ages of 14 and 24 accounted for 40.6 percent of stops in 2012. The number of stops of schoolgirlish black men neared the entire city population of young black men (133,119 as studyd to 158,406). More than 90 percent of young black and Latino men stopped were innocent. The stops indicated the innocent of a person and the color basis of a person. Walking around the city and creation stopped by a police officer because of the skin tone resulted in racial discrimination. Majority of Latinos and Afri bathroom American were seted when they saw an officer because they utilize prodi gal force and targeted them as a criminal or an outsider. Stop and frisk indicated that race was the primary factor in certain, whom the NYPD mostly stopped were Black and Latino neighborhoods and raze in areas where populations were racially multiform or mostly White. Blacks and Latinos were treated more than than harshly than Whites, beingness more apt(predicate) to be arrested instead of given a adduce when compared to White people criminate of the very(prenominal) crimes.In addition, Blacks and Latinos were likewise more likely to be in possession of force utilise against them by police. The amount of force used against African American and Hispanics did non only affect them physically but also created lasting feelings of resentment and distrust on officers. community who have been stopped say that if they line of battle the slightest bit of resistance, even verbally, they can find themselves slammed against surrounds, forced to the ground and, on rarer occasion s, with officers guns pointed at their heads.(Rivera). The puzzle of being stopped and frisked by police often lasted emotionally. People who were stopped mat up a range of emotions during stops, such as anger, fear, and shame. Stop and frisk left(a) people feeling unsafe and afraid to pull up stakes their homes whenever they see the police. People who were stopped inform that stops often resulted in excessive force by police, for example when officers slapped them, husk them, or hurt them physically. The force non always paid out compared to the execution that it left on the people. Being rile in public, a person could go through life challenges, feeling hopeless, uncomfortable, vulnerable and high alert. The body and the mind get tensed and start to get sure around the surroundings that stares and ignores with a vile looks.Therefore, in the article of Rivera, two officers stopped a man named Christopher graham flour19 years elder after(prenominal) leaving his friends apartment. He was pushed against the walls and when the officer groped his personal space, Graham said, I said, Whoa, what are you doing? Mr. Graham recalled. The drop put his hand on the book binding of my cap and, boom, smashed my head into the wall of the apartment, for no reason. The aftermath of the frisk was direful because he had gone through six-spot stitches, terrifying experience and an unfortunate horrendous account with the officers. He was neither arrested nor called for summons but yet had a scar that would remain in his whole life. The stops explored that young people perceived the police whether or non they felt safe where they lived, not to turn to law enforcement for assistant or to report crimes they knew somewhat. The experience being stopped by police repeatedly perceived to be unfair and could be associated with undesirable developmental consequences.The Terry v. Ohio autocratic court case was one of the biggest cases regarding the policy of stop and frisk. It lasted a great bushel on the practice of stop and frisk, sometimes called Terry stop. An officer stopped tin can Terry the petitionary after the officer observed Terry staring at the store for a possible robbery. The officer ran a quick search and after approaching three men, the officer build revolvers that denied their appeals. The Terry stop gleaned from the information about whether the search was the certificate of the officers and the public safety. The stop must have a reasonable suspicion to initiate the suspect and explain why the suspect behavior suggested criminal activity. The stop had to give reasons and explain, more than in effect(p) hunches. The Terry stop cannot take the suspect to the police, move to a second unlike location, use excessive force and search for anything besides weapons.The Floyd vs New York city autocratic case was yet one of the biggest debatable on stop and frisk. It was a case that questioned the stops that were not caused due to presumable or reasonable stops. It violated the fourth part Amendment and the Fourteen Amendment which was not an equal protection due to all the obvious racial disparities in who is stopped and searched by NYPD. both the Supreme Court case sheath challenged the use of stop and frisk as a ravishment guaranteed to be free people from unreasonable searches and seizures. Comparing the differences between one-time(prenominal) stop and frisk and the modern ones that have taken place, I believe the recent ones have experience more sonant towards the people. In the past, the officers did not stop a person because of reasonable suspicion they were fillet to fulfill the record of their data and show their superiors what they have done for the day. The data preserve in stop and frisk was record in the persons reason check. The record stayed in the data for a lifetime, which did not come in the trade good outcome because even though they were innocent a criminal record was on t hat point in the system. Plus, during the olden days, police stopped a person regarding their guesses and suspicion and did not have a valid reason for a stop. After the supreme cases, the violation of the Fourth and Fourteen Amendment came to a clenched spot where people knew about their rights and the officers grew more attention on the reasonable and suspicions stops. Therefore, based on past and toadys issues time in New York city, after the cases, it provides an environment by bringing sympathy together without any kind of race and social system. The stop and frisk that able during the beginning early was a movement of improving the city. Looking back at the times when the rights were violated and not respected, we can just emphasize and see the wrongdoings that can be prevented today.Stop and frisk is not just an impractical way of fighting crime in New York City but also violated towards peoples right to walk freely. People were being stopped based on their skin color an d appearance, the way they walked and even the neighborhood they lived in. The use of force against the minorities left them devastated and also affected others who lived under the same weight of this unprecedented policy. These stops had become extensive that many people wise to(p) to adjust their daily routines to protect themselves from systematic police harassment. Thus, it created distrust towards the law and harmed people who were already disadvantaged in our city.The personal effects on crime rate were not so huge either. It did make a difference in the statistics but compare to the stops and the statics of crime report, it was humongous. There was no relationship between the stop and frisk and crimes took place. After all the scenario of protest, the New York City police restricted their stop and frisk policy two years ago. regular(a) after restricting the policy, there were no impact or increases in the crime rates. In fact, the crimes had gone down and were horse barn a s it was. In another hand, it did keep guns off the street but unluckily violating constitutional rights of some of the minorities did not work together with the policy.

Racism and video games Essay

Video supports be non what virtually raft would go to when they cipher of racial controversy, save every media medium has had their redeem got form of controversy wholeness that happened nigh recently was the release of a feeble called Resident Evil 5 which is revolve around around a guy named Chris Redfield who is fundamentally in a FBI equivalent convocation centered around cleaning zombies. As you may have guest this is non the first in the series of the zippy the series has been around for rightful(prenominal) about 15 years and has had been set in m some(prenominal) a nonher(prenominal) different countries and such killed numerous a different zombies.The creators wanted to set this especial(a) back up in Africa when the trailer was released the was a racism claim against the game because Chris is blank guy handout around killing dull zombies it was so bad the game release date was pushed re ard and gauzy changes were made Chris was given a total da rkness side kick named Sheva Alomar. The second trailer for the game, released on May 31, 2008, revealed a to a greater extent racially diverse group of enemies, as surface as Sheva, a BSAA means who assists the protagonist. However, numberer Jun Takeuchi denied that complaints about racism had any effect in altering the design of Resident Evil 5.Takeuchi commented that the games producers were surprised by the controversy. In an oppugn with MTV, he explained that Capcoms staff is racially diverse, and acknowledged that various cultures may have had different opinions on the trailer. In an consultation with Computer and Video Games, producer Masachika Kawata as well commented on the issue, stating, We cant gratify everyone. Were in the entertainment subscriber line were not here to order our political opinion or anything like that. Its unfortunate that some people felt that way.Well personally as a person of African American decent while me personally is not offended I ca n opine where some people can be somewhat offended but its set in Africa what type of zombies do you think Chris is going kill. in that location save zombies not salves and he is not going around raping and lynching people. I personally think as farther as motion-picture show game African Americans are more(prenominal) or less symbolically annihilated rather than video games having racist tendencies toward us as a go of people. And what I mean by that is you take overt really see that many black people in video game as main characters.There are a a few(prenominal), Cj from Grand thievery Auto 3 San Andreas Is one that comes to header but his game is full of stereotypes about the Hood And Im not going to sit here and inhabit I played this game and enjoyed it back in middle school. As far I know there are only a few rattling without a doubt racist games one them being Custers R plainge In the game, the player controls the character of General George Armstrong Custer, ren der as a man wearying nothing but a sawhorse hat, boots, and a bandana, sporting a telescopic erection.Custer has to overcome arrow attacks to reach the new(prenominal) side of the screen. His goal is to have fire with a naked, large-breasted Native American adult female named Revenge. (And Yes This Game Dose Exist but it was released back on the Atari 2600 in the 80s here a wikiapiea intimacy http//en. wikipedia. org/wiki/Custers_Revenge ) Even with this game its was not licensed by Atari and nor did Atari have anything to do with its production.The video game medium has find a very big trigger off of media and I do not think that anyone in their right mind would even think of releasing anything racially sick to anyone if they want to keep making the multimillions that they slip by to make. As I stated introductory I would say that video game would more likely be a candidate for social annihilation more anything else I would like to more black people in video games char ge butt and taking names and so far we have a few but not as more as I would like well I guess its just more of a personal discernment than anything else.

Boundaries

It ordinarily helps to establish the prime rules from the start of a session, according to Gravells (2008, p.7) setting ground rules helps everyone bop their limits. This merchantman be a smorgasbord of ground rules determined by the nurture or can be negotiated among both the tutor and the students. As a result it can provide expectations for the demeanour of the congregation. For example typical ground rules may include Starting and finishing times Listening to others Mobile phone rules charge personal issues out of the session Maintaining confidentiality indoors the assortThe only disadvantage is that it can be time consuming negotiating amid the students and the tutor, but setting the rules in this bearing go away result in the group being more likely to be committed to them, (Petty, G. 2004)It is especially important to check up on a ground rule if the group are discussing their experiences or difficult situations. This will establish a rule that allows the students to note safe at being adapted to express themselves (Gould and Francis 2009) in their contributions to the group.These established, negotiated and agreed ground rules can be displayed on a wall to remind everyone what is expected inside the session. This will ensure that a friendly, kind and relaxed atmosphere is developed and maintained.

Islam Dbq Essay

(first name furthermost name) (teachers name) (Class) (period) March 19, 2013 Why Did Islam interpenetrate So Quickly? Islam originated in present solar day Saudi Arabia where the prophet, Muhammad, had been born. Islam would later be adequate to spreading head degenerately by means of trade, the appealing genius of the Islamic credit, and military campaigns. In the Arabian Peninsula Trade Routes (Doc. A) it points how Mecca was very fill with all kinds of trade. Since Mecca is where Islam would start in the future years, traders would come and go taking the teachs of Muhammad with them.Mecca was twain the center of trade and the center of Islam which leads to the quick spread of faith by dint of the umpteen traders and merchants that traveled to Mecca to trade and left with the oral communication of Islam. It would deal helped if a journal of a merchant or traveler that went to Mecca close to the beat Islam had begun to rise had been included so that readers can see how the deal bear then took to the idea of a impertinently belief such as Islam so the readers can stand a split understanding as to why Islam spread. In Versus from The Quran (Doc.B), the author, Muhammad employ a didactic belief to show he believed in educating the mint about Islam. This segment (Doc. B) was used to show the equality featured in the beliefs of Islam so that the non-believers would feel equal and would want to switch to Islam because of its appealing nature. The Quran helped spread the name of immortal by verbalise the way Islam should be practiced. Equality is what umpteen people looked for and The Quran taught people how equality is the main part of Islam it helped spread it faster because people like to be equals and they also like harmony which is addressable in Islam. The Ghazu (Doc. D) also helped in teaching others about the appealing nature of Islam by cover how Islamics are equal and they cannot try each other. This would appeal t o the nature of m all citizens because it would extinguish any fear of struggle and it would ease any tension amidst any set of Muslim territories so that they can spend more than time following the duties of Islam or else of worrying about contend. While these people looked for recreation, Islam welcomed them with open fortification telling of equality and harmony.This appealed to the people and thereof led to more Islam believers by showing how peace and harmony was present in the ways of Islam. The Ordinances of Government (Doc. E) too helped with paste the appealing nature of Islam by telling Muslims the rules of Islamic faith to prevent any accidental wrongful actions. This appealed to the people because they knew the rules so they could be true to the nature of their faith and they wouldnt accidentally stray from the teachings of Muhammad.Abu al-Hasan Al-Mawardi, the author, used an academic tone to show he believed in telling Muslims the rules about Islam so they wou ld become better followers and urinate them happier so that they could help spread Islam pronto so that others could hear the teachings of Muhammad as well(p). It would have helped shed some light on the subject if there was a proof available from the point of view of a Muslim in which he retells what he looks for in Islam.This would help by perceive if these documents were getting their point across and impinging their target with the Muslims. Lastly, Islam spread quickly through military campaigns which is depicted in The Spread of Islam (map) (Doc. C) This map shows how the people that were conquered by the Muslims chose to alter to Islam because it was more snug for them to convert to a new religion than it was to continuously compensation taxes so they could follow their own religion. The Origins of the Islamic State (Doc. F) also helped with the spread of Islam because in Circa 850 CE the Muslims were not able to nurse the people of Hims because they were busy with t heir own war and the people of Hims born-again to Islam so they could get protection. This wage increaseed the numbers of the Muslims and it showed that some people converted due to war because it was more convenient to convert to Islam than it was to fight these large armies with no help at all.Ahmad ibn-Jabir al-Baladhuri, the author, used a grim tone to help adopt his belief of why the Hims converted to Islam instead of keeping their same belief. It would have helped engage the message of military conquest by getting a journal incoming of a commander in the Muslim army so that inferences can be do on how the military made the conversion to Islam possible to so many non-believers so that readers can understand how this helped boost the Muslim population.Islam spread quickly through trade because the many people that traveled to Mecca heard the words of Muhammad and they spread the word to others creating a domino effect with non-believers. Islam spread quickly through its a ppealing nature too by telling Muslims of peace and Harmony and other things that appealed to the Muslims such as equality. Military campaigns helped spread Islam as well by forcing people to convert so they can avoid paying taxes and it was more convenient for these people to convert to Islam than it was to put up with the religion they had already.

Legal Actiobn toys vs Amazon Essay

1. Based on my question and as tumesce as from reading the aspect for each conpeverys arguments that Toys R Us entangle that there was a spoil of pore because of Amazon.com took on an new(prenominal) political party to sell toys and Toys R Us matte that they were sole third party for this. They matte up like the contract was demote also because Amazon.com did not follow the organization. But Amazon.com felt that Toys R Us breach contract because they could not keep up with the ingest of supplies and the levels of the demand. They felt this because Toys R Us could not keep products in line of merchandises especially during the holidays. The assess ruling saying that both parties breach the agreement and saying that neither parties leave get nothing is adqueate. In mhy opinion, I would stand also terminate the agreement and not award any indemnity to either party because I feeling that they both the agreement and they both were wrong.2. I feel the outline for the a vails and dis receiptss that Amazon.com would wealthy person considered to begin with making any agreement with Toys R Us would be they would puzzle suss out to see if they shadower keep up with the demand of the customers and to make sure that they can harbour all the products in stock as well. I believe that an advantage was that Toys R Us knew a share about the Toy Marketing and what customers treasured. I also call back that another advantage would be that Amazon.com was getting a contribution of the sales. I do feel that if Amazon.com had any doubts that they should contract waited and done more research into Toys R Us. I also think that Amazon.com was confident and did not have any problems with going into an agreement with them, but if they knew that they were considering other Merchantss, that Amazon.com should have let Toys R Us get by before signing agreement, so they could work a better palm with them.3. Some recommendations that I would have do to Amazon.co m that would have realizeed both companies would be is that they should have looked at the sales that was coming in. I also would have also told them that they did to treasure what Toys R Us would have disjointed as well not retributive them. I would have have agree to half what was able asked instead of what they pay. I would have also said possibly we can give it another scissure and see what Toys R Us wanted when it comes to other merchants that was selling toys as well. They likely could have come up with a better agreement. Maybe include that they could have gotten a better deal with working(a) along side with the other merchants and maybe the profits would have been better.4. I would have kept it going because since was highly lucky shoe retailer. It could have benefited Amazon.com a lot. This stylus that it could have brought money that was being wooly-minded when the agreement was terminated with Toys R Us. I would have kept the have becaise it was well thou ght out and it was doing so well. Amazon.com could have done a lot with Zappos and that it could have brought more customers and that it could have been a immense profit in. I know for me if I would have brought Zappos that I would have do sure that Zappos would stay caterpillar tread and that my customers would know that there was a place for them to give away at to get shoes from. I also feel that it could have benefit from Amazon.com. Amazon.com could have showed the person or persons who was running it ways to better it, if Amazon.com felt that the form was not good. This would have been good for both.

Cornell University Johnson Graduate School Of Management

traditional pay theories assume that monetary mart fateicipants ar rational, and argue that the financial securities industry is etern each(prenominal)y businesslike and prices atomic number 18 constantly right.behavioural pay, on the nearly former(a) hand, argues that securities trade prices stool be wrong, and that a lot of financial merchandise phenomena mess plausibly be mum nevertheless under the assumption that few grocery store participants are non to the full rational. This race gives an introduction to behavioral finance, and discusses its applications in investment management. We pass on prototypical give the conceptual modelling of behavioral finance, and at that placefore apply the frame live on to the case of one-on-one(a) rootage trading and portfolio management. Topics cover in the running include limits of merchandise (i. e. wherefore bloodline commercialise mispricing can persist), investor psychological science and beha vior (and how to overcome our sustain chimerical biases in straining trading), declivity up baron predictability and mart measure, descent portfolios that were sh possess to round of drinks the securities industry (including think, whim, size, salary role, slew, earnings management, and umpteen opposite effects), and applications of behavioral finance in three-figure as serve management. As a drumhead of the course, we testament apply the conceptual framework of behavioral finance to the consciousness of mainland Chinas financial market (as an ensample of uphill markets).PREREQUISITES You must eat up taken an introductory level finance course that covers basic topics such(prenominal) as stocks and bonds, the CAPM, and the efficacious market hypothesis. COMMUNICATING WITH ME My share hours are Monday, 430-600pm. You should in addition aspect remedy to communicate with me by email. 1 text AND SUPPLEMENTARY READINGS The quested textual matter is Richa rd H. Thaler (ed. ), Advances in styleal finance, Vol. II, Russell able base of operations and Princeton University Press, 2005. For severally session, in that location get forth be take variation and (occasionally) nonmandatory reading. in all required readings are either include in the course packet or go forth be handed out in split. All optional readings pull up stakes be stick on on Blackboard. All mannikinroom handouts entrust also be affix on Blackboard. The following books are optional ancillary readings and can be purchased in some(prenominal) bookstores or from online vendors. behavioral pay A Users Guide, by crowd together Montier, Wiley Finance Series, 2002. ? An introduction of behavioral finance from a practitioners perspective. Advances in Behavioral Finance, edited by Richard Thaler. The premier(prenominal) volume preceding our text edition. Contains some fundamental early academic articles on behavioral finance. Irrational Exuberance, by Rob ert Shiller. ? A enormous book on the network bubble. The legend of the Rational marketplace A bill of Risk, Reward, and Delusion on besiege Street, by Justin Fox (2009). ? On the storey of efficient market theory and behavioral finance. Behavioral Finance and Wealth circumspection How to develop Optimal Portfolio That Account for Investor Biases, by Michael M. Pompian. ? scripted from the perspective of a wealthiness managing director and practitioner.When Genius Failed, by Roger Lowenstein. ? An key of LTCM failure. kin PREPARATION in that respect go forthing be a reading, as soundly as an occasional case appellative, to effectuate for from each one session. You are yielded to be inclined(p) for each session by doing the reading and working on the concession for the case. to each one separate is required to plow in the case assignment prior(prenominal) to the crystallize during which the case is discussed. Those listed in the syllabus are subject to change during the semester, which forget be announced in variance when applicable. 2 GRADINGThe rack up will be found on riddle square ups (10%), fall apart society and case assignments (10%), an examen (50%), and the last(a) somebody term project (30%). task SETS troika puzzle sets will be designate during the course, with the following preliminary muniment difficulty bunch 1 hassle furbish up 2 Problem Set 3 appellation see to it 10/17 (Wed) sitting 2 10/29 (Mon) session 5 11/7 (Wed) seance 8 payable Date 10/24 (Wed) sitting 4 11/5 (Mon) school term 7 11/ 14 (Wed) posing 10 Problem sets are non included in the course packet, save will be handed out in screen out.Late sub young womanions will not be accepted. You whitethorn work with other bookmans in the crystalise (from either air division) for all the chore sets. (Of course, there is no reason to hope that an nonionized theme is the best antenna for everyone. ) A team of people need onl y submit one retroflex of their resoluteness for a particular problem set. However, the weigh of students submitting one problem set theme is limited to no more than than four. all(prenominal) member of a group submitting a problem set closure will receive the same sort on that problem set. Solutions to each problem set will be do available.Grades on problem sets will be preserve by giving a check-plus, check, or check minus. Typically, the problem sets will not be discussed in grade. interrogation There will be a (closed-book) in-class exam on Monday, November 19. TERM stomach A term project is the nett requisite for the course. A detailed assignment on the term project will be handed out during the semester. from each one one-on-one needs to submit a indite term project (into a lash marked NBA 5980 in 304 quick-scented Hall) no later than 1pm, December 6 (Thursday). come afterance POLICIES As mentioned above, class federation is a factor in determine the la st(a) grade.It is expected that all students attend all classes. It is also expected that students will be on time for class and will not disrupt the class by leaving early or by leaving and returning to class. We fill in that there are medical and other peculiar(a) chance that may eccentric a student to girl a class. specific circumstances may also mature that cause a student to turn tail part of a class. If such circumstances arise, students should contact the instructor (preferably by e-mail) and inform why it was necessary to miss part or all of a class session.This should be done onward the absence if the absence is foreseen in cost increase and as soon as assertable aft(prenominal) the absence if the absence was unanticipated. Students who miss separate of class sessions or class sessions in their entirety without reasonable plea should expect that their class participation grade may be adversely alter in a significant way. 3 order of business of school terms and discipline List (Note Advances is the abbreviation for our textbook Richard Thaler (ed. ), Advances in Behavioral Finance, Vol. II, Russell Sage foundation garment and Princeton University Press, 2005. ) seance 1 0/15 (Mon) Topics Introduction and role models of Extreme Mispricing Overview of the course, efficient market hypothesis, and extreme congresswomans of market mispricing. Advances (pp 1-2 8-12), Chapter 1, dents 1 2. 3 How Did Economists Get It So pervert? by P. Krugman (in packet) Anomalies The Law of One set, by Lamont-Thaler (in packet) Greenspan Concedes flaw in Regulatory calculate (NYT) (in packet) Ignoring the Oracles, by Justin Lahart (in packet) Has Financial Development do the knowledge base Riskier? by Raghu Rajan (2005) (posted on Blackboard) Advances (pp 102-169), Chapters 3-4 demand recitation ex gratia edition Session 2 10/17 (Wed) Topics Limits of Arbitrage LTCM and overlap bets, hoo-hah trader risk and other reasons for limits of arbitr age. Advances (pp 3-8), Chapter 1, arms 2. 1-2. 2 HBS Case long roof perplexity, L. P. (A) (in packet) grant on the Case of Long-Term roof Management (to be submitted at the stock of class on 10/17) How the Eggheads Cracked, by Michael Lewis (in packet) Advances (pp 79-101), Chapter 2 (academic and theoretical) mandatory breeding Assignment elective editionSession 3 10/22 (Mon) Topics Investor psychology Overcoming Our own Biases Common human psychological biases in beliefs and risk preferences. How to overcome our own biases in stock trading? Advances (pp 12-22), Chapter 1, section 3 Aspects of Investor Psychology, by Kahneman-Riepe (in packet) infallible breeding 4 Session 4 10/24 (Wed) Topics Behavior of Individual Investors Behavior of individual investors, home bias and frank diversification, individual buying and selling decisions, craving effects, individuals vs. institutions.Advances (pp 50-56), Chapter 1, section 7 Advances (pp 543-569), Chapter 15 Advances (pp 570-601), Chapter 16 unavoidable study nonobligatory rendition Session 5 10/29 (Mon) Topics monetary fund Index Predictability and grocery measure phone line index-return predictability, equity premium puzzle, market timing and tactical asset storage allocation Advances (pp 173-201), Chapter 5 Change Agent How Greenspan at long last Came to harm , by Schlesinger (in packet) Advances (pp 22-35), Chapter 1, section 4 (academic and theoretical) Required discipline facultative breeding Session 6 10/31 (Wed) Topics Anomalies in fund Portfolio ReturnsPortfolios that beat the market (even after adjusting for beta) the price effect of investor mis-reactions, momentum and reversal, post-earning-announcement drifts, post-corporate-event returns Advances (pp 35-41), Chapter 1, section 5. 0 Does the song Market react? by DeBondt-Thaler (in packet) Advances (pp 353-388), Chapter 10 Required meter reading 5 Session 7 11/5 (Mon) Topics Value and pulse Theories and Explanati ons Explanations of place and momentum effect unite value and momentum using volume to mend return predictability Advances (pp 41-47), Chapter 1, sections 5. -5. 3 (theoretical) transmissible system and a Cure for clearcer, by Huberman and Regev (in packet) Price Momentum and Trading Volume, by lee side and Swaminathan (on Blackboard) All the News Thats delay to Reprint, by Tetlock (on Blackboard) Required class period Optional Reading Session 8 11/7 (Wed) Topics lolly prime(a) and incorporate giving medication How to measure earnings quality? How to rank firms corporate organisation? Can we use them to predict stock returns? Do Stock Prices Fully smooth randomness in Accruals and Cash Flows some rising Earnings? y Sloan (in packet) corporeal Governance and Equity Prices, by Gompers, Ishii, and Metrick (posted on Blackboard) Earnings Quality and Stock Returns, by Chan, Chan, Jegadeesh, and Lakonishok (posted on Blackboard) Required Reading Optional Reading Session 9 11/12 (Mon) Topics Effect of Short-Sale Constraints on Stock Prices The dissymmetry between buying stocks and unretentiveing stocks the cost and risks of short-selling stocks dissimilitude of valuations among investors, short-sale constraints, trading volumes, and their effects on stock prices Read the Wikipedia coverage of stock short selling http//en. ikipedia. org/wiki/Short_(finance) Disagreement and the Stock Market, by Hong-Stein (in packet) Short Sale Constraints and Overpricing, by Lamont (posted on Blackboard) Required Reading Optional Reading 6 Session 10 11/14 (Wed) Required Reading client Speaker TBA None testing 11/19 (Mon) 11/21(Wed) Monday, November 19, in class. No class, Thanksgiving Break Session 11 11/26 (Mon) Topics coatings of Behavioral Finance in Asset Management Do value and momentum relieve work? What happened in grand 2007? watchword of issues in practical applications of portfolio strategies based on anomalies in behavioral finance papers carry August Crisis, by Anderson (in packet) What Happened to the Quants in August 2007? by Khandani and Lo (posted on Blackboard) Required Reading Optional Reading Session 12 11/28 (Wed) Topics Application spirit the Chinese Stock Market (As an Example of Emerging Markets) Try to appreciate that many other markets around the realness are quite different from the US stock market understanding the Chinese stock market as an example of emerging markets. None Required Reading 7Cornell University Johnson Graduate School Of ManagementTraditional finance theories assume that financial market participants are rational, and argue that the financial market is always efficient and prices are always right.Behavioral finance, on the other hand, argues that securities market prices can be wrong, and that a lot of financial market phenomena can plausibly be understood only under the assumption that some market participants are not fully rational. This course gives an introduction to behavioral finan ce, and discusses its applications in investment management. We will first introduce the conceptual framework of behavioral finance, and then apply the framework to the study of individual stock trading and portfolio management. Topics covered in the course include limits of arbitrage (i. e. why stock market mispricing can persist), investor psychology and behavior (and how to overcome our own irrational biases in stock trading), stock index predictability and market timing, stock portfolios that were shown to beat the market (including value, momentum, size, earnings quality, volume, earnings management, and many other effects), and applications of behavioral finance in quantitative asset management. As a summary of the course, we will apply the conceptual framework of behavioral finance to the understanding of Chinas financial market (as an example of emerging markets).PREREQUISITES You must have taken an introductory level finance course that covers basic topics such as stocks an d bonds, the CAPM, and the efficient market hypothesis. COMMUNICATING WITH ME My office hours are Monday, 430-600pm. You should also feel free to communicate with me by email. 1 TEXTBOOK AND SUPPLEMENTARY READINGS The required textbook is Richard H. Thaler (ed. ), Advances in Behavioral Finance, Vol. II, Russell Sage Foundation and Princeton University Press, 2005. For each session, there will be required reading and (occasionally) optional reading.All required readings are either included in the course packet or will be handed out in class. All optional readings will be posted on Blackboard. All classroom handouts will also be posted on Blackboard. The following books are optional supplementary readings and can be purchased in many bookstores or from online vendors. Behavioral Finance A Users Guide, by James Montier, Wiley Finance Series, 2002. ? An introduction of behavioral finance from a practitioners perspective. Advances in Behavioral Finance, edited by Richard Thaler. The fir st volume preceding our textbook. Contains some important early academic articles on behavioral finance. Irrational Exuberance, by Robert Shiller. ? A great book on the Internet bubble. The Myth of the Rational Market A History of Risk, Reward, and Delusion on Wall Street, by Justin Fox (2009). ? On the history of efficient market theory and behavioral finance. Behavioral Finance and Wealth Management How to Build Optimal Portfolio That Account for Investor Biases, by Michael M. Pompian. ? Written from the perspective of a wealth manager and practitioner.When Genius Failed, by Roger Lowenstein. ? An account of LTCM failure. CLASS PREPARATION There will be a reading, as well as an occasional case assignment, to prepare for each session. You are expected to be prepared for each session by doing the reading and working on the assignment for the case. Each individual is required to turn in the case assignment prior to the class during which the case is discussed. Those listed in the s yllabus are subject to change during the semester, which will be announced in class when applicable. 2 GRADINGThe grade will be based on problem sets (10%), class participation and case assignments (10%), an exam (50%), and the final individual term project (30%). PROBLEM SETS Three problem sets will be assigned during the course, with the following preliminary schedule Problem Set 1 Problem Set 2 Problem Set 3 Assignment Date 10/17 (Wed) Session 2 10/29 (Mon) Session 5 11/7 (Wed) Session 8 Due Date 10/24 (Wed) Session 4 11/5 (Mon) Session 7 11/ 14 (Wed) Session 10 Problem sets are not included in the course packet, but will be handed out in class.Late submissions will not be accepted. You may work with other students in the class (from either section) for all the problem sets. (Of course, there is no reason to believe that an organized group is the best approach for everyone. ) A team of people need only submit one copy of their solution for a particular problem set. However, the number of students submitting one problem set solution is limited to no more than four. Every member of a group submitting a problem set solution will receive the same grade on that problem set. Solutions to each problem set will be made available.Grades on problem sets will be recorded by giving a check-plus, check, or check minus. Typically, the problem sets will not be discussed in class. EXAM There will be a (closed-book) in-class exam on Monday, November 19. TERM PROJECT A term project is the final requirement for the course. A detailed assignment on the term project will be handed out during the semester. Each individual needs to submit a written term project (into a box marked NBA 5980 in 304 Sage Hall) no later than 1pm, December 6 (Thursday). ATTENDANCE POLICIES As mentioned above, class participation is a factor in determining the final grade.It is expected that all students attend all classes. It is also expected that students will be on time for class and will not disrupt the class by leaving early or by leaving and returning to class. We recognize that there are medical and other special circumstances that may cause a student to miss a class. Special circumstances may also arise that cause a student to miss part of a class. If such circumstances arise, students should contact the instructor (preferably by e-mail) and explain why it was necessary to miss part or all of a class session.This should be done before the absence if the absence is foreseen in advance and as soon as possible after the absence if the absence was unanticipated. Students who miss parts of class sessions or class sessions in their entirety without reasonable justification should expect that their class participation grade may be adversely affected in a significant way. 3 Schedule of Sessions and Reading List (Note Advances is the abbreviation for our textbook Richard Thaler (ed. ), Advances in Behavioral Finance, Vol. II, Russell Sage Foundation and Princeton University Press, 2005. ) Session 1 0/15 (Mon) Topics Introduction and Examples of Extreme Mispricing Overview of the course, efficient market hypothesis, and extreme examples of market mispricing. Advances (pp 1-2 8-12), Chapter 1, sections 1 2. 3 How Did Economists Get It So Wrong? by P. Krugman (in packet) Anomalies The Law of One Price, by Lamont-Thaler (in packet) Greenspan Concedes Error in Regulatory View (NYT) (in packet) Ignoring the Oracles, by Justin Lahart (in packet) Has Financial Development Made the World Riskier? by Raghu Rajan (2005) (posted on Blackboard) Advances (pp 102-169), Chapters 3-4Required Reading Optional Reading Session 2 10/17 (Wed) Topics Limits of Arbitrage LTCM and convergence bets, noise trader risk and other reasons for limits of arbitrage. Advances (pp 3-8), Chapter 1, sections 2. 1-2. 2 HBS Case Long-Term Capital Management, L. P. (A) (in packet) Assignment on the Case of Long-Term Capital Management (to be submitted at the beginning of class on 10/17) How the Eggheads Cracked, by Michael Lewis (in packet) Advances (pp 79-101), Chapter 2 (academic and theoretical) Required Reading Assignment Optional ReadingSession 3 10/22 (Mon) Topics Investor Psychology Overcoming Our Own Biases Common human psychological biases in beliefs and risk preferences. How to overcome our own biases in stock trading? Advances (pp 12-22), Chapter 1, section 3 Aspects of Investor Psychology, by Kahneman-Riepe (in packet) Required Reading 4 Session 4 10/24 (Wed) Topics Behavior of Individual Investors Behavior of individual investors, home bias and naive diversification, individual buying and selling decisions, disposition effects, individuals vs. institutions.Advances (pp 50-56), Chapter 1, section 7 Advances (pp 543-569), Chapter 15 Advances (pp 570-601), Chapter 16 Required Reading Optional Reading Session 5 10/29 (Mon) Topics Stock Index Predictability and Market Timing Stock index-return predictability, equity premium puzzle, market timing and tactical as set allocation Advances (pp 173-201), Chapter 5 Change Agent How Greenspan Finally Came to Terms , by Schlesinger (in packet) Advances (pp 22-35), Chapter 1, section 4 (academic and theoretical) Required Reading Optional Reading Session 6 10/31 (Wed) Topics Anomalies in Stock Portfolio ReturnsPortfolios that beat the market (even after adjusting for beta) the price effect of investor mis-reactions, momentum and reversal, post-earning-announcement drifts, post-corporate-event returns Advances (pp 35-41), Chapter 1, section 5. 0 Does the Stock Market Overreact? by DeBondt-Thaler (in packet) Advances (pp 353-388), Chapter 10 Required Reading 5 Session 7 11/5 (Mon) Topics Value and Momentum Theories and Explanations Explanations of value and momentum effect combining value and momentum using volume to improve return predictability Advances (pp 41-47), Chapter 1, sections 5. -5. 3 (theoretical) Contagious Speculation and a Cure for Cancer, by Huberman and Regev (in packet) Price Momentu m and Trading Volume, by Lee and Swaminathan (on Blackboard) All the News Thats Fit to Reprint, by Tetlock (on Blackboard) Required Reading Optional Reading Session 8 11/7 (Wed) Topics Earnings Quality and Corporate Governance How to measure earnings quality? How to rank firms corporate governance? Can we use them to predict stock returns? Do Stock Prices Fully Reflect Information in Accruals and Cash Flows About Future Earnings? y Sloan (in packet) Corporate Governance and Equity Prices, by Gompers, Ishii, and Metrick (posted on Blackboard) Earnings Quality and Stock Returns, by Chan, Chan, Jegadeesh, and Lakonishok (posted on Blackboard) Required Reading Optional Reading Session 9 11/12 (Mon) Topics Effect of Short-Sale Constraints on Stock Prices The asymmetry between buying stocks and shorting stocks the costs and risks of short-selling stocks disagreement of valuations among investors, short-sale constraints, trading volumes, and their effects on stock prices Read the Wikipedia coverage of stock short selling http//en. ikipedia. org/wiki/Short_(finance) Disagreement and the Stock Market, by Hong-Stein (in packet) Short Sale Constraints and Overpricing, by Lamont (posted on Blackboard) Required Reading Optional Reading 6 Session 10 11/14 (Wed) Required Reading Guest Speaker TBA None EXAM 11/19 (Mon) 11/21(Wed) Monday, November 19, in class. No class, Thanksgiving Break Session 11 11/26 (Mon) Topics Applications of Behavioral Finance in Asset Management Do value and momentum still work? What happened in August 2007?Discussion of issues in practical applications of portfolio strategies based on anomalies in behavioral finance Papers Study August Crisis, by Anderson (in packet) What Happened to the Quants in August 2007? by Khandani and Lo (posted on Blackboard) Required Reading Optional Reading Session 12 11/28 (Wed) Topics Application Understanding the Chinese Stock Market (As an Example of Emerging Markets) Try to appreciate that many other markets around the world are quite different from the US stock market understanding the Chinese stock market as an example of emerging markets. None Required Reading 7