Pair Trading
prediction of further movement of any financial instrument - a thankless task. No methods or indicators are not able to on a regular basis to indicate the correct direction of trade. The market changes all the time, so one stop strategy work, others (not necessarily better) become effective. Obtained by cycling and traders, leaving a huge physical and emotional load of market fluctuations, often do not receive the calculated return. Alternatives to "predict" is, and plenty of them. A wide range of traded financial assets, access to various markets allow you to apply the strategy, in general, neutral to the market. One such approach is the pair trading or, as it is called, the statistical arbitrage.
main idea of the strategy is the assumption that the market is correlated with each other financial instruments or their group. A classic example of such pairs are stocks of companies of one sector or basket of stocks relative to the index itself equity indices. Sooner or later the market situation arises when the correlation is weaker. One of the assets (in the jargon of traders "leg") by virtue of any factor starts to deviate much stronger than the other, if not start trading tools differently. As a result, the difference (or spread) between price increases. Focusing on historical patterns and statistical calculations, we can assume that raskorrelyatsiya - a temporary phenomenon and the spread will come to normal mean values, ie shrink. Therefore, that "leg", which has grown abnormally, we sell, the second purchase, conversely, if the downward movement, buying heavily sagging asset, another sell out. It turns out, is one tool we make a profit, and another loss. Total to the general market movement strategy is neutral, we are only interested in the width of spread of the selected pair. Accordingly, once the spread starts to narrow, strategy will begin to generate income. We just close the two "legs" opposite transaction and fix the profit.
Thus, one of the main task is to find the pair trading well correlated with each instrument. It is important that they are liquid and available for discovery, as long position (buying) and short (sell). However, the higher the correlation, so usually already spread and harder to earn. In the Russian market the range of such tools small, it is primarily blue chips, futures for them, as well as commodity and commodity futures and futures on the RTS and MICEX. In addition to correlation, it is necessary balance tools in the pair, otherwise the dynamics of a single "leg" of the pair will prevail over another and the financial results will be distorted. For example, if we got together to trade action against the futures on the same rally, you need to handle that amount of shares, which corresponds to the specifications of the futures contract (usually futures per 100 shares). Thus, we chose a couple and begin trading in the direction of narrowing spreads, but spreads, as luck would have continued to expand. This situation, incidentally, the most likely, since we are trading against the trend of a more agile instrument. What do you do?
published two - either wait, or to average a losing position opening up new contracts. Waiting in itself - it is losing money, so to make a pair trading, have averaged. We can not do without a plan and pre-conceived factors and averaging steps in accordance with disposable tools. Must rely to sustain wide spreads at least 1.5 times greater than the maximum possible value based on historical data. Of course, such restrictions can not guarantee that, with some point spread will narrow. It is important to remember that the average losing position, albeit with minimal probability can lead to complete loss of money, ie averaging only increases the losses.
therefore advocates the strategy of trading the pair are trying to diversify, selling more than one pair, and the portfolio such pairs. Another "trick" the pair of traders is trading "with both hands, simultaneously on multiple accounts. The idea is that the position of we did not 0, and +1 on one account and -1 in another. Further, at some point profitable position is closed, and losing is averaged. Finally, last but not least aspect is the time-frame. Intra-day spread may be one, and the daily and weekly - many times more. This point should be considered when calculating the period averaging. Perhaps the best solution would be fixing a losing position if financial resources are inadequate.
Generally, the idea of pair trading not new and is very popular, especially in western areas. There are hedge funds that specialize exclusively in doubles trading. In Russia, this niche have not yet mastered. Perhaps this is due to the small number of assets available for short sales. In recent years, there are many software products, allows you to trade in pairs in the automatic mode, and hence the popularity of the pair trading will grow in the Russian market.
Monday, January 31, 2011
Pain Under Rib After Eating
montepulciano d'abruzzo
check out Recommended![[info]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_uVoJRNZkCN8_iAL20GoAWTczVK11SbocW2gm1PtCMYP-6qYYwfRR_5veFVN2WsOWa-mQq_jKmu8bipNzEe2PYrVSCatTrMIH2Jc0rqfWGPTU0hbw=s0-d)
der_scholar Italian dry wine montepulciano d'abruzzo 2009 - it seemed to us to delicious than CHATEAU REYSSON.
yet again, drank a bottle of semi-sweet "Ahr Winzer" and did so, dry wine certainly has its charm. Children's tastes' wine - only sweet "start to move. In addition, at the bottom of glasses with semisweet were some mysterious white crystals. By type of sugar, tastes like a glass. Semi-sweet wine is the only dry, which poured the sugar on the bottom of the cups was just sugar, but this ... uh ... who gave himself the blame?
later in the queue zatsenochnoy recommendation from ferneregenbogen "A good option - wines from other continents. South America - Chile, mostly. I like Casillero Del Diablo, a simple white label, is easily recognized - a very strong and the" right " flavor, especially love the merlot. "
check out Recommended
der_scholar Italian dry wine montepulciano d'abruzzo 2009 - it seemed to us to delicious than CHATEAU REYSSON. yet again, drank a bottle of semi-sweet "Ahr Winzer" and did so, dry wine certainly has its charm. Children's tastes' wine - only sweet "start to move. In addition, at the bottom of glasses with semisweet were some mysterious white crystals. By type of sugar, tastes like a glass. Semi-sweet wine is the only dry, which poured the sugar on the bottom of the cups was just sugar, but this ... uh ... who gave himself the blame?
later in the queue zatsenochnoy recommendation from
ferneregenbogen "A good option - wines from other continents. South America - Chile, mostly. I like Casillero Del Diablo, a simple white label, is easily recognized - a very strong and the" right " flavor, especially love the merlot. "
Sunday, January 30, 2011
Saturday, January 29, 2011
Wolf Pen Creek Bowling
Trading System TANKER
tells clients Foundation that developed and tested the basic features of stock trading system, which poluchila name TANKER. Details will be published later, after further Testing and castings basic elements.
tells clients Foundation that developed and tested the basic features of stock trading system, which poluchila name TANKER. Details will be published later, after further Testing and castings basic elements.
Acronis True Image Wd Installation Interrupted
gave Cloud - amerikansky trader earned $ 5 billion for Year
hedge fund manager and head of the investment firm Paulson & Co John Paulson earned in 2010 more than 5 billion U.S., writes The Wall Street Journal. Paulson also broke his record for earnings (4000000000), established three years ago, when he played against high-risk mortgage market bonds.
These figures show that the elite hedge fund managers are now the most vysookooplachivaemymi financial market participants. In addition to Paulson, these include the founder of the investment company Appaloosa Management, David Tepper and head of Bridgewater Associates, Ray Dalio, who received last year from 2 to 3 billion dollars. Comparable revenues are fixed and the founder of Renaissance Technologies LLC, James Simons.
For comparison, the largest investment bank the world's Goldman Sachs, a famous bounty to its employees, up to 2010 has paid 36 thousand people for a total of 8.35 billion dollars (an average of 231,000 dollars per employee). The head of another leading investment bank Morgan Stanley James Gorman earned in 2010 only 15 million dollars.
Typically, these traders like Paulson, rarely take all of their earned cash. A significant portion of the profits exists only on paper and reflects the growth in assets at the disposal of their firms. In the case of market downturn, these earnings may fall sharply. Another portion of the proceeds from sales will eventually return to their company.
John Paulson and his colleagues have successfully put the growing cost of commodities, which in 2010 was extremely high due to the end of the world recession and the resumption of the global recovery GDP.
COOL :-)
hedge fund manager and head of the investment firm Paulson & Co John Paulson earned in 2010 more than 5 billion U.S., writes The Wall Street Journal. Paulson also broke his record for earnings (4000000000), established three years ago, when he played against high-risk mortgage market bonds.
These figures show that the elite hedge fund managers are now the most vysookooplachivaemymi financial market participants. In addition to Paulson, these include the founder of the investment company Appaloosa Management, David Tepper and head of Bridgewater Associates, Ray Dalio, who received last year from 2 to 3 billion dollars. Comparable revenues are fixed and the founder of Renaissance Technologies LLC, James Simons.
For comparison, the largest investment bank the world's Goldman Sachs, a famous bounty to its employees, up to 2010 has paid 36 thousand people for a total of 8.35 billion dollars (an average of 231,000 dollars per employee). The head of another leading investment bank Morgan Stanley James Gorman earned in 2010 only 15 million dollars.
Typically, these traders like Paulson, rarely take all of their earned cash. A significant portion of the profits exists only on paper and reflects the growth in assets at the disposal of their firms. In the case of market downturn, these earnings may fall sharply. Another portion of the proceeds from sales will eventually return to their company.
John Paulson and his colleagues have successfully put the growing cost of commodities, which in 2010 was extremely high due to the end of the world recession and the resumption of the global recovery GDP.
COOL :-)
Friday, January 28, 2011
Wednesday, January 26, 2011
Pretty Little Liars Sayings
dry and semidry. red.
occurred yesterday cast a spell over the recommended mini_max wine: cru bourgeois superieur CHATEAU REYSSON haut medoc 2006. Not so expensive, like me scared ("only" 9 euros), very good dry wine.
still drink well liked in the last time Ahr Winzer (2008), this time a semi-dry. Wine is also not cheap (7 euros), but semi somehow very very "non vulva em non Rubram Legionem".
There the charm of good dry wine. From the throat goes well:)
There charm semi-sweet wines, and it has the charm, I was closer. But the semi-dry as something entirely by cash.
occurred yesterday cast a spell over the recommended
mini_max wine: cru bourgeois superieur CHATEAU REYSSON haut medoc 2006. Not so expensive, like me scared ("only" 9 euros), very good dry wine. still drink well liked in the last time Ahr Winzer (2008), this time a semi-dry. Wine is also not cheap (7 euros), but semi somehow very very "non vulva em non Rubram Legionem".
There the charm of good dry wine. From the throat goes well:)
There charm semi-sweet wines, and it has the charm, I was closer. But the semi-dry as something entirely by cash.
Tom Delonge Wrist Tattoo
yesterday it saw in a picture of friends at three
gospoja wrote that works where it is filmed. She also leads the Vietnamese picture vislobryuhoy pig.
gospoja wrote that works where it is filmed. She also leads the Vietnamese picture vislobryuhoy pig.
Maxine Jokes On Healthcare Plan
Psychological characteristics of trading
Absolutely all traders in varying degrees, are experiencing the same emotional problems, foremost among which are fear, greed and hope. Probably, many traders are familiar stupor when you sit in front of the monitor and watch as the price moves further and further against your open position. And whenever the hand goes to close the position and put an end to their torment, the brain instantly blinded by the hope of reversal. Another frequently widespread option is a case where a losing position is somehow still locked, but then opens up a new, trying as quickly as possible revenge for the previous one.
In both cases, as a rule, this leads only to exacerbate the situation and, consequently, to large losses. This state can be called a poker term "Tilt" when emotions take up over common sense and received inadequate solutions, completely forgetting about all their strategies and internal installation.
Consider the reverse situation.
open position is profitable - hooray! Let's hurry it will close, and tomorrow with renewed vigor and a clear head look at what to do. For the majority of people such trading is psychologically more comfortable. It turns out that a trader suffers a loss-making position, as the hope of clinging to any "nice" factors, and profitable - quickly closed because it was terrible, that is about to lose profits (better tit in the hands ...), ie, takes its greed. As a result, sooner or later (depending on the rules of money management), the matter ends zeroing of the account.
Statistically the vast majority of beginners, especially active traders lose all the money in the first year of trading. If we talk about Forex, what this figure rises to 95%. Even in competitive accounts, where they sell the virtual money and psychological stress is absent, the number of losers is much exceed earned.
reason for these results is the absence of a trading plan. If you make trades only on the basis of their intuition, to guess to almost every transaction. A characteristic feature of beginners is the large number of small profitable trades that overlap several unprofitable and eventually turns negative, which in turn directly reflects human psychology. However, if you try to do everything exactly the opposite, ie quickly fix the damage and wait for a large profit, the result is not likely to change much. Why?
The fact that psychologically sustain a profitable position is much harder than losing. Paradoxically, but resist the temptation to profit much harder than sitting in a losing position. Therefore, in this case at the initial stage to earn unlikely.
Losses or something to teach, or a person simply lose interest in trading. There is not one of the famous trader, who could earn a fortune without a trading plan, but counter-examples loss of capital - do not count. Develop your trading plan "with the bay-floundering" will not work. First you need to learn nakoplennyy experience of the world trading acquainted with the well-known strategies, and, of course, the main teacher is the market itself, which teaches the loss of real money. Borrow (buy) someone, and let the super-profit strategy is unlikely to yield positive results. It's a dead end road, because to experience all the subtleties and nuances of another algorithm still does not work, namely, the result depends on them.
One of the main problems facing the trader - is to understand itself, its nature, temperament and attitude toward risk. What kind of money you are willing to risk? If you can quietly watch a profitable position and make profits grow? Think ли Вы, что движение рынка можно предсказать? В какой перспективе? Что Вы будете делать, если завтра рынок откроется на 10% не в ту сторону?
Ответы на эти вопросы help from the baggage claim area of knowledge select the appropriate segments, and which will form the basis of your strategy. No less important rule is strict adherence to its algorithm. Even a good strategy may cause damage if you do not abide by the rules outlined in any developments on the market. Many are very good traders can not make solely because of psychological imbalance and impulsive trades will go along something "better", etc. About 80% of trading success is based on a stable psychological state, and only 10% - less engineering input / output (the remaining 10% - good luck, the case). Cast-iron discipline - Significant term success. Trading on the plan, albeit not very well, much better intuitive decisions. And the emotions we leave to the poor.
Absolutely all traders in varying degrees, are experiencing the same emotional problems, foremost among which are fear, greed and hope. Probably, many traders are familiar stupor when you sit in front of the monitor and watch as the price moves further and further against your open position. And whenever the hand goes to close the position and put an end to their torment, the brain instantly blinded by the hope of reversal. Another frequently widespread option is a case where a losing position is somehow still locked, but then opens up a new, trying as quickly as possible revenge for the previous one.
In both cases, as a rule, this leads only to exacerbate the situation and, consequently, to large losses. This state can be called a poker term "Tilt" when emotions take up over common sense and received inadequate solutions, completely forgetting about all their strategies and internal installation.
Consider the reverse situation.
open position is profitable - hooray! Let's hurry it will close, and tomorrow with renewed vigor and a clear head look at what to do. For the majority of people such trading is psychologically more comfortable. It turns out that a trader suffers a loss-making position, as the hope of clinging to any "nice" factors, and profitable - quickly closed because it was terrible, that is about to lose profits (better tit in the hands ...), ie, takes its greed. As a result, sooner or later (depending on the rules of money management), the matter ends zeroing of the account.
Statistically the vast majority of beginners, especially active traders lose all the money in the first year of trading. If we talk about Forex, what this figure rises to 95%. Even in competitive accounts, where they sell the virtual money and psychological stress is absent, the number of losers is much exceed earned.
reason for these results is the absence of a trading plan. If you make trades only on the basis of their intuition, to guess to almost every transaction. A characteristic feature of beginners is the large number of small profitable trades that overlap several unprofitable and eventually turns negative, which in turn directly reflects human psychology. However, if you try to do everything exactly the opposite, ie quickly fix the damage and wait for a large profit, the result is not likely to change much. Why?
The fact that psychologically sustain a profitable position is much harder than losing. Paradoxically, but resist the temptation to profit much harder than sitting in a losing position. Therefore, in this case at the initial stage to earn unlikely.
Losses or something to teach, or a person simply lose interest in trading. There is not one of the famous trader, who could earn a fortune without a trading plan, but counter-examples loss of capital - do not count. Develop your trading plan "with the bay-floundering" will not work. First you need to learn nakoplennyy experience of the world trading acquainted with the well-known strategies, and, of course, the main teacher is the market itself, which teaches the loss of real money. Borrow (buy) someone, and let the super-profit strategy is unlikely to yield positive results. It's a dead end road, because to experience all the subtleties and nuances of another algorithm still does not work, namely, the result depends on them.
One of the main problems facing the trader - is to understand itself, its nature, temperament and attitude toward risk. What kind of money you are willing to risk? If you can quietly watch a profitable position and make profits grow? Think ли Вы, что движение рынка можно предсказать? В какой перспективе? Что Вы будете делать, если завтра рынок откроется на 10% не в ту сторону?
Ответы на эти вопросы help from the baggage claim area of knowledge select the appropriate segments, and which will form the basis of your strategy. No less important rule is strict adherence to its algorithm. Even a good strategy may cause damage if you do not abide by the rules outlined in any developments on the market. Many are very good traders can not make solely because of psychological imbalance and impulsive trades will go along something "better", etc. About 80% of trading success is based on a stable psychological state, and only 10% - less engineering input / output (the remaining 10% - good luck, the case). Cast-iron discipline - Significant term success. Trading on the plan, albeit not very well, much better intuitive decisions. And the emotions we leave to the poor.
Sunday, January 23, 2011
Extreme Wrestling Shirts
Notes flora and fauna of
last natural BG album "Pushkinskaya 10" was released two years ago, has since been released seven CDs: live album, singles, old records.
1.) Day joy
2.) Oracle of the divine Bottle
3.) Feudalism
4.) Our life in terms of trees
5.) Secret Uzbek
I already had, downloaded yesterday:
6.) Notes on the flora and fauna
7.) Glorious Sea Sacred Baikal
For every download I try to pay.
sabzh not impressed.
Another strange that something with a secret Uzbeks - he had previously consisted of four songs, but now one.
last natural BG album "Pushkinskaya 10" was released two years ago, has since been released seven CDs: live album, singles, old records.
1.) Day joy
2.) Oracle of the divine Bottle
3.) Feudalism
4.) Our life in terms of trees
5.) Secret Uzbek
I already had, downloaded yesterday:
6.) Notes on the flora and fauna
7.) Glorious Sea Sacred Baikal
For every download I try to pay.
sabzh not impressed.
Another strange that something with a secret Uzbeks - he had previously consisted of four songs, but now one.
The Height Of The Netfor Men
integral wine viritas
Six years ago I began to study the range of beers in the German supermarkets have long reached such a degree of awareness that my stores region can not offer me any unfamiliar brand.
all changed, now I drink beer and wine often seems the time has come to understand something in this noble drink. Culture of wine consumption seems much harder to beer culture, no one did not come to mind to talk about what kind of beer is better suited for pistachio and which under the chips, not to mention the fact that beer is not important year bottling ... And here ... many conventions ... red wine to drink non-refrigerated, to love you want exceptionally dry wine ...
This week saw three wines:
1.) Dornfelder lieblich 2009 wappen der pfalz.
Dornfelder - a grape. lieblich something like our "sweet" and three words at the end point that the wine from the Palatinate, that is German. Wine is cheap (1.5 euros / 60 USD) and tasty.
German wines are still too can drink.
2.) Ahr Winzer 2009 portugieser qualitaetswein lieblich.
This wine is expensive (5 Euro / 200 USD) and tastier. The word "portugieser" kakbe hints that wine from Portugal, but written on the back "Wein aus Deutschland" embarrassing. Vickie says that it Ahr Rhine tributary and in the region grow just grapes for red wines. The largest vineyard in Germany.
3.) Le filou vin de france - vin rouge francais sweet
Sweet wine from France, too, seems about five per bottle. "Filou" from French "rogue".
On the back of the bottle piercing text in German, that drinking wine should be together at the end of a romantic evening. Text is lying - wine disappoint us. Too sweet, probably still "sweet" bust and take the necessary "lieblich".
Lieblich: when the sugar from the 18-to 45-grams per liter. "Sec" and "demi-sec" be it in French, which is strange, as "Sec" means "dry." But where the sugar in the German table wines - a "brut" is the French.
very naive cast a spell, about the wines do not know anything, I'll be glad to any advice. Once I was in my opinion have already talked about the wines and I was advised African and Chilean.
Six years ago I began to study the range of beers in the German supermarkets have long reached such a degree of awareness that my stores region can not offer me any unfamiliar brand.
all changed, now I drink beer and wine often seems the time has come to understand something in this noble drink. Culture of wine consumption seems much harder to beer culture, no one did not come to mind to talk about what kind of beer is better suited for pistachio and which under the chips, not to mention the fact that beer is not important year bottling ... And here ... many conventions ... red wine to drink non-refrigerated, to love you want exceptionally dry wine ...
This week saw three wines:
1.) Dornfelder lieblich 2009 wappen der pfalz.
Dornfelder - a grape. lieblich something like our "sweet" and three words at the end point that the wine from the Palatinate, that is German. Wine is cheap (1.5 euros / 60 USD) and tasty.
German wines are still too can drink.
2.) Ahr Winzer 2009 portugieser qualitaetswein lieblich.
This wine is expensive (5 Euro / 200 USD) and tastier. The word "portugieser" kakbe hints that wine from Portugal, but written on the back "Wein aus Deutschland" embarrassing. Vickie says that it Ahr Rhine tributary and in the region grow just grapes for red wines. The largest vineyard in Germany.
3.) Le filou vin de france - vin rouge francais sweet
Sweet wine from France, too, seems about five per bottle. "Filou" from French "rogue".
On the back of the bottle piercing text in German, that drinking wine should be together at the end of a romantic evening. Text is lying - wine disappoint us. Too sweet, probably still "sweet" bust and take the necessary "lieblich".
Lieblich: when the sugar from the 18-to 45-grams per liter. "Sec" and "demi-sec" be it in French, which is strange, as "Sec" means "dry." But where the sugar in the German table wines - a "brut" is the French.
very naive cast a spell, about the wines do not know anything, I'll be glad to any advice. Once I was in my opinion have already talked about the wines and I was advised African and Chilean.
Saturday, January 22, 2011
Take My Dachsun On A Plane
ein guter Tag
Gestern war ein guter Tag - Euro ging den ganzen Tag nach oben, egal welche Cross-währung man handelte. Wir waren den ganzen Tag long und haben einiges verdient.
Die nächste Woche überlegen wir uns mit Währungsoptionen anzufangen; momentan wird es nach einem geeigneten Broker gesucht.
Gestern war ein guter Tag - Euro ging den ganzen Tag nach oben, egal welche Cross-währung man handelte. Wir waren den ganzen Tag long und haben einiges verdient.
Die nächste Woche überlegen wir uns mit Währungsoptionen anzufangen; momentan wird es nach einem geeigneten Broker gesucht.
Friday, January 21, 2011
Lansinoh Compatible With Avent
Investment Funds Forex: Fraud or investment?
Judging by the glow of passion, which is now raging in the vast former Soviet Union, time (and long) to translate the issue into the next plane of discussion: Investment Funds Forex as a new and 99% of cases and scams withdrawals Investors in the former Soviet Union.
Forex Investment funds have become a new target of investments - in the former Soviet Union investors, attracted by the examples phenomenal success of investment funds Buffett, Soros and other bigwigs of the financial market globally, invest in domestic and foreign "nuggets" traders and ... 99% of losing money.
The question arises: how to distinguish between an investment fund in which the investor almost guaranteed to be able to earn money from fraudulent, in which the investor is almost guaranteed to lose the money invested.
about these criteria - This article.
ideal fraudulent scheme to investors, used by some brokers and dealing centers forex.
scams based on:
- a preliminary conspiracy Dealing Centre (Broker) Forex with a successful trader, collect funds for their own investment Fund, which opened a live trading account, of course, in this DC.
- crooks are well aware of the requirements and demands of investors, respectively, under these requirements pre-prepared "evidence" and "facts" that 99% of convincing investors to give money to fraudsters.
Algorithms and stages of fraudulent scheme:
- on internet forums dealing center / broker is unwound name of a trader. Usually it is - the winner of which increased by 5 ... 10 ... 20 or more times over several months. Instantly turn a PR promotion of the trader (with him and DC) across the Internet (interviewed in this trader printed photographs, published his sermons for beginners (without disclosure of the trading system), how can and should work on forex, of course, in this DC).
Thus the task is executed, at least dealing center: place a PR campaign and on the "living example" made an impact on the subconscious beginners on how to easily and freely novice trader can earn huge money for a month or two, of course, in this DC.
- if the "promotion called" Can a trader announces the creation of his own investment fund forex. In support of Excellence for investors given the password to verify the "real" trading account for the last 0.5-2.5 years, plus a trader at astounding 2.000% -10,000% (you can "draw" on the terminal MT4 any amount, as long as investors believe. The fact that the technical support of many trading platforms (eg, MT4) can "fit in" or to change any history of any account written "under the" investor ", in compliance with manimenedzhmenta, exhibiting stops, etc.).
- referred to as "successful trader collects the money in your investment Fund pays out dividends to investors and first ... creating a classic Ponzi scheme.
- one day Dealing Centre / broker announces of losing all the deposit forex investment fund, and "successful trader" completely and permanently disappear (as manage your account at Forex, you can anywhere in the world, the technique of the "disappearance" does not cause too much difficulty). According to some indirect data, the missing trader earns 10% -25% of the lost Investor sum, the rest is dirty dealing center, which any legal liability for "loss" does not carry.
- Dealing Centre / forex brokers will be required to assist the investigation and angry investors - will give all the materials, sent a trader in DC at the opening account history of the movement of money in the account of the trader, will provide on its web site forum for investors, which all together will be condemned "unworthy of man" and be sure to translate the conversation on the topic of diversification of risks - namely, should not invest in one, and several investment funds, and so on.
main question that arises in getting acquainted with the scheme - whether it is possible to protect investments from this (and many others) fraudulent schemes of investment funds Forex?
It is clear that any reasonable investor's primary interest is not making a profit, and guarantee return on investment, so the first thing it is reasonable to do the following:
- to conduct a preliminary check of the trader as an investment - that is, checking accounts of investors, real stories Managing trader at least the past 2 years (this is their method).
- have a tolerance of investors to trade the current trader to access online via password to a real trading account. Investor's important to make sure that the trader actually trades a profit and the internal logic of its transactions is similar to transactions in the history of its account (and not Dealing Centre "paints" the story an account with the update once a week).
- need a clear understanding of investor trading system trader. The first wake-up call for the investor is not disclosing the trader is essentially a trading system. If the trading system "of successful trader "-" black box ", it means she or it is" narrowly professional "(a simple secret), which at any moment cease to operate successfully on the market, or it's - frankly a fraudulent scheme, designed for investors broker. Generally, the trading system - a "handwriting" trader, the internal logic which is practically constant. According to the "handwriting" of the trading system can be said about the trader, even what he is afraid to admit to himself - his knowledge of technical and the wave analysis, manimenedzhment, psychology of trading, fear, excitement, and more.
- check a broker (there are a number dealing centers and foreign brokers whose information about the trader's account can not be trusted).
For large investors the ideal model is:
- opening a live trading account in his name to the provision of a password manager and trader access to the account management-
- opening additional accounts with other broker (to exclude the fact of fraud among traders and brokers to the detriment of the investor), and refusal trader away from their "own" the broker to "stranger" should cause suspicion among investors, unnecessarily quotes from all brokers the same and if there is no significant difference in spreads and commissions - before you or a professional trader, or fraud.
can name a few algorithms for forex investment fund:
1. Setting a limit losses to the fund (15% -20%), at which фонд прекращает свою деятельность, а деньги возвращаются инвесторам (80%-85% вложенных сумм). Владелец фонда, соответственно, заинтересован при наступлении any damage to personal funds, not to cover it IF.
2. trade openness, ie investors access to the general balance of the IF with a broker (ideally for investors to current transactions of IF, but it will not make a trader and will be right, because can occur up his trades by investors).
3. clear division interest only from the profits of the investment fund in a strictly time-bound (but not guaranteed by 7% -10% monthly investor)
4. risk sharing losses among investors and traders, for example, upon the occurrence of margin-Cola (0.85 from the initial trading account), a trader guarantees to the investor return of 30% -50% of the lost them money on wine trader (ie, 4.5% -7.5% of the investment) within the stipulated time in advance, or broker shall pay this compensation to the investor from lying on his account personal deposit trader.
Example:
- for 1 million dollars of investment - private equity trader should be 45-75 thousand dollars.
- if a trader does not have these tools as a guarantee - take it early in the management of a million dollars.
- if he takes control of the money, investors should seriously consider, because Wonderland does not happen and if the trader at his own expense 5.1 lots failed to earn 50-70 thousand dollars, he would never be able to trade profitably 100-200 or more lots.
can even give an example of break-even investment in forex investment fund:
- guarantees the broker set a limit losses to 15% for an investment fund.
- guarantees the trader to reimburse up to half of the losses of the limit losses.
- introduction percent profit (dividends) in relation to limit losses.
- After receiving the first paid dividends investor goes to the break-even entire investment, in parallel an increasing proportion of investment Commons (trader) as a guarantee of repayment of half of the loss limit losses.
Example: 1.000 $ investment.
limit losses - 15% (of which 7.5% of returns investors IF the head when you stop trading broker because of a loss of 15%). Further schedule of investment growth and the onset of break-even at different percentage yield investment fund may look like this: 5% in the quarter, 10% in the quarter, 15% in the quarter, 20% in the quarter.
Generally, the relationship between the investor and trader as relationships within the family: when all is well - they do not relate to, in case of force majeure circumstances, the same pop up all the internal and hidden contradictions, the effects of which investors have to calculate in advance. The success of partners can only be in the balance of mutual interests, when he's not - begins the path to bankruptcy - Как минимум одного из партнеров.
Loose Large Couch Pillows
Off-topic
http://top.rbc.ru/society/21/01/2011/531277.shtml
It is incredible what is going on in the world.
http://top.rbc.ru/society/21/01/2011/531277.shtml
It is incredible what is going on in the world.
Thursday, January 20, 2011
How Much Does It Cost To Renew Dz License
Eine Schnappsidee?
Hello everyone, today is a
UNUSUAL entry as everything is taught in German. My idea today was that I should lead off and on my blog in other languages, especially since there are clients with me, the German and English as a first language. Right now I do not know yet whether the already a mature or a snap idea, time will show it.
Since the last week, the market turmoil increased and more difficult trading esrtmal, say you have to apply very strict money management approaches, otherwise NO CHANCE :-) We
this week not in Euro / USD, GBP but trade is fairly volatile surprisingly - 2 days running up to 120 points is no longer a rarity ...
prediction I will make this time not because we are fully in trading.
In this sense, then to
Hello everyone, today is a
UNUSUAL entry as everything is taught in German. My idea today was that I should lead off and on my blog in other languages, especially since there are clients with me, the German and English as a first language. Right now I do not know yet whether the already a mature or a snap idea, time will show it.
Since the last week, the market turmoil increased and more difficult trading esrtmal, say you have to apply very strict money management approaches, otherwise NO CHANCE :-) We
this week not in Euro / USD, GBP but trade is fairly volatile surprisingly - 2 days running up to 120 points is no longer a rarity ...
prediction I will make this time not because we are fully in trading.
In this sense, then to
Need Help With Bad Rash On Breast
it helps in the life of Buddhist practice
Try to tell someone:
-I am a practicing Buddhist, every day, meditate, -в ответ наверняка услышишь:
-И как тебе это в жизни помогает?
Характерно, что если сказать "я крещёный православный и каждую неделю хожу в церковь" никто this will not ask.
I try to understand the thinking of such voproschayuschego. Life from his point of view is when the morning alarm rings, then Metro, then work, then Metro again, then ravioli with sour cream and sleep. Here in this process somehow has to help the Buddhist practice.
If you want a lot of money - well Work. Do not meditate, but it works:) If you want a lot of women - go to women. Do not meditate, do not, namely, go to women. Pursuing religious practice become more relaxed (ie passive pofigistichnym) and do not gnaw his place in the sun with a proper rage. Meditation in the "life" does not help, but hinders my friends.
Buddhist master, perhaps as an Orthodox saint, not perfectly arranged in life, and just kept on this very life at a respectful distance. Meditates day and night, or praying, and credit cards he has not. And we, the homeless are spiritual, or have a credit card or know how to get it, but for him this problem unreachable. And if you have such a spiritually enlightened man something to do with the bank or even solve some problem of life, of which every day we decide to tens, he calls us, spiritual vagabonds, and asks us to razrulit his problem because he only knows how to defend the life of 10 steps and observe his holiness, and do anything he can not and do not want to be able, for only begin to do - holiness is gone, and currently sit on the sidelines and over again that all vanity and decay.
You look at some of the Buddhist teachers are absolutely helpless in all worldly matters and to count every penny of your allowance unemployment, and can not help recalling a question "and how do you practice in your life work?". Yes, as you say, Cheburashka ...
In the case of teachers azitskimi there is a feature that in the spiritual level is given the ability to make something natural for Asians with the birth and profoundly alien to Europeans. He knows how to have chopsticks - he is enlightened, we can not - we urgently need to pay for retreats, for we are spiritual vagabonds. In this case, no one confused that enlightened in the metro orient can not, because it has no subway in the mountains.
course, there is another type of teachers. They do not get on the subway, because they have a jeep with a driver. They have their own website, training schedule, and sex with enthusiastic Buddhist, but about them another time somehow.
Try to tell someone:
-I am a practicing Buddhist, every day, meditate, -в ответ наверняка услышишь:
-И как тебе это в жизни помогает?
Характерно, что если сказать "я крещёный православный и каждую неделю хожу в церковь" никто this will not ask.
I try to understand the thinking of such voproschayuschego. Life from his point of view is when the morning alarm rings, then Metro, then work, then Metro again, then ravioli with sour cream and sleep. Here in this process somehow has to help the Buddhist practice.
If you want a lot of money - well Work. Do not meditate, but it works:) If you want a lot of women - go to women. Do not meditate, do not, namely, go to women. Pursuing religious practice become more relaxed (ie passive pofigistichnym) and do not gnaw his place in the sun with a proper rage. Meditation in the "life" does not help, but hinders my friends.
Buddhist master, perhaps as an Orthodox saint, not perfectly arranged in life, and just kept on this very life at a respectful distance. Meditates day and night, or praying, and credit cards he has not. And we, the homeless are spiritual, or have a credit card or know how to get it, but for him this problem unreachable. And if you have such a spiritually enlightened man something to do with the bank or even solve some problem of life, of which every day we decide to tens, he calls us, spiritual vagabonds, and asks us to razrulit his problem because he only knows how to defend the life of 10 steps and observe his holiness, and do anything he can not and do not want to be able, for only begin to do - holiness is gone, and currently sit on the sidelines and over again that all vanity and decay.
You look at some of the Buddhist teachers are absolutely helpless in all worldly matters and to count every penny of your allowance unemployment, and can not help recalling a question "and how do you practice in your life work?". Yes, as you say, Cheburashka ...
In the case of teachers azitskimi there is a feature that in the spiritual level is given the ability to make something natural for Asians with the birth and profoundly alien to Europeans. He knows how to have chopsticks - he is enlightened, we can not - we urgently need to pay for retreats, for we are spiritual vagabonds. In this case, no one confused that enlightened in the metro orient can not, because it has no subway in the mountains.
course, there is another type of teachers. They do not get on the subway, because they have a jeep with a driver. They have their own website, training schedule, and sex with enthusiastic Buddhist, but about them another time somehow.
Friday, January 14, 2011
How Do You Get A Bad Xbox Live Card To Work
RAD
An aptly-titled children's zine, R.A.D. (aka Read and Draw) gears its publication toward creative children and their parents in Brooklyn's Williamsburg and Park Slope neighborhoods. Each clever issue takes up a particular seasonal or educational theme, packing more imagination than a Pixar holiday party into every page. Recent installments... android news iOS news best android phone
An aptly-titled children's zine, R.A.D. (aka Read and Draw) gears its publication toward creative children and their parents in Brooklyn's Williamsburg and Park Slope neighborhoods. Each clever issue takes up a particular seasonal or educational theme, packing more imagination than a Pixar holiday party into every page. Recent installments... android news iOS news best android phone
Thursday, January 13, 2011
Earth Compared With A Ball Bearing
Beer
Dan Becker and Lance Wilson?two San Francisco, CA-based designers? discovered a real gem when they stumbled upon Becker's stepdad John Russo's extensive beer can collection tucked away in his Midwest basement. Hoarding cans since 1975, the collection spans all shapes, styles and sizes of brews from around the world,... best android apps android htc desire
Dan Becker and Lance Wilson?two San Francisco, CA-based designers? discovered a real gem when they stumbled upon Becker's stepdad John Russo's extensive beer can collection tucked away in his Midwest basement. Hoarding cans since 1975, the collection spans all shapes, styles and sizes of brews from around the world,... best android apps android htc desire
Wiring Diagram For A Voltage Regulator For Alpine
Geekbench 2 now in the Mac App Store
Macs are getting faster! Just how fast your Mac is really?
To read this you have to download a benchmark program that then performs various operations on the Mac.
The best-known benchmarking tool for the Mac is Geekbench.
A simple click on the "Run Benchmark" button enough, and your Mac is done properly fire beneath their ass:
The processor is loaded to the max, video card, RAM and hard disk speed tested by various tests.
After about 30 second long test get his test results clearly displayed on a website.
If you like, you can make the results publicly available and thus giving others an overview of the speed of your Mac model.
Geekbench 2 is available for € 10.49 in the Mac App Store and is to determine the exact speed of your Macs.
close your
Before the test, all other programs!
link in the Mac App Store
MacBook Air tablet tablet pc
Macs are getting faster! Just how fast your Mac is really? To read this you have to download a benchmark program that then performs various operations on the Mac.
The best-known benchmarking tool for the Mac is Geekbench.
A simple click on the "Run Benchmark" button enough, and your Mac is done properly fire beneath their ass:
The processor is loaded to the max, video card, RAM and hard disk speed tested by various tests.
After about 30 second long test get his test results clearly displayed on a website.
If you like, you can make the results publicly available and thus giving others an overview of the speed of your Mac model.
Geekbench 2 is available for € 10.49 in the Mac App Store and is to determine the exact speed of your Macs.
close your
Before the test, all other programs!
link in the Mac App Store
MacBook Air tablet tablet pc
Does Florida Medicaid Cover Vision
"Arduino The Documentary" (Video)
We have been here a lot Arduino get to see projects, from browser-based Etch-A-Sketch , HALO the haptic feedback for the blind , the Google Street View-Home Trainer Marty McFly or even lacers sneakers. All of these droll, funny or simply overwhelming hacks are possible only by Arduino, what could be more than once to deal with the history of the heart of many DIY projects: a very interesting half hour of video after the break.
Continue reading "Arduino The Documentary" (Video)
Permalink
Wood Flower Planters Boats
Winamp for Android
advertorial content: It's one thing to master making a cocktail, and yet another to actually craft a spirit. Here at CH, we've experienced first-hand the skill and art that goes into creating a variety of our favorite drinks. The balance between rigorous dedication to tradition and having an eye on ... iPhone App Review Angry Angry Birds Birds tricks
advertorial content: It's one thing to master making a cocktail, and yet another to actually craft a spirit. Here at CH, we've experienced first-hand the skill and art that goes into creating a variety of our favorite drinks. The balance between rigorous dedication to tradition and having an eye on ... iPhone App Review Angry Angry Birds Birds tricks
Wednesday, January 12, 2011
Ticklish Female Celebrty
DonQ Master of All Skills
Filed under: Nintendo 3DS The stolen the other day from the work Nintendo 3DS apparently has a temporary end to a dissecting table overtaken: are big surprises though it is not (the apparently undersized 1300 mAh battery is because, unfortunately, no exception), but what could be better than boards and circuits at close range in her inimitable harmony considered? Even more of them can be found after the source link if you want auseinderfriemeln itself, will have to wait until the launch in March. 
Gallery: Nintendo 3DS
inside
Filed under: Nintendo 3DS The stolen the other day from the work Nintendo 3DS apparently has a temporary end to a dissecting table overtaken: are big surprises though it is not (the apparently undersized 1300 mAh battery is because, unfortunately, no exception), but what could be better than boards and circuits at close range in her inimitable harmony considered? Even more of them can be found after the source link if you want auseinderfriemeln itself, will have to wait until the launch in March.
inside
3) The 25 € iTunes card in the basket 
The offer ends tomorrow night (December 12) So The guessing game 
Gadet
1 Percent Of Body Fat In Pounds
Nintendo 3DS is disassembled
Among the folk knits, antique textiles, small-trade crafts and other neo-hippie goods shop at New High (M) art, the "mismatch Socks" not only keep feet cozy and looking this winter so fresh but perfectly illustrate the Griffith Park, LA retailer's commitment to quality, unusual products. The vibrantly-colored socks, made of ... ipod nano MacBook Air tablet
Among the folk knits, antique textiles, small-trade crafts and other neo-hippie goods shop at New High (M) art, the "mismatch Socks" not only keep feet cozy and looking this winter so fresh but perfectly illustrate the Griffith Park, LA retailer's commitment to quality, unusual products. The vibrantly-colored socks, made of ... ipod nano MacBook Air tablet
Milena Velba Rub My Boob
legal side of hedge funds.
Поступило пару предложений дать некую научно-популярную information about hedge funds from a legal point of view. Well, this very fulfilling a request, the more that the question for people interested in this kitchen is really interesting.
hedge fund industry was the most serious development in the country, the flagship of capitalism - the United States. Accordingly, the legislation governing concepts, principles of operation, and other provisions relating to hedge funds, namely the U.S..
the American sense, a hedge fund - it is usually private investment partnership that invests primarily in publicly traded securities or financial derivatives.
One of the main features U.S. hedge funds is that they are not subject to the Investment Company Act of the United States in 1940, requiring compliance with regulatory regime, and the Securities Act of 1933, obliging funds to register with the Securities and Exchange Commission (SEC). Thus, from the point of compliance with the regulatory regime and other rules relating to securities trading, hedge funds are in a more free-legal field compared to other market participants, and, in particular, with mutual funds. However, hedge funds have some limitations. Here are the key of them:
number of participants in the fund shall not exceed 100 investors;
stock fund should not be offered for free distribution;
participants Fund may be institutional investors and individuals with high income.
to institutional investors include banks, pension funds, insurance companies and other financial institutions with large volumes of assets.
Investors from the numbers of individuals must have net assets of not less than 1 million dollars or have an annual income of at least 200 000 dollars over at least the last two years. The size of the investee amount not to exceed 20% of net assets.
hedge fund, there are two types of partners: general partner and limited partners. General partner - A person who starts a hedge fund. It also has all the daily activities of the existing stock. Limited partners are his capital, but do not participate in trading and operational activities of the Fund. A typical form of organization of the General Partner - LLC (Limited Liability Company - Limited Liability Company) thus it is unlimited liability in the partnership. The limited partners of investment partnerships is responsible only to the extent of their investment in the partnership.
For all services rendered by the general partner receives incentive fee determined by the partnership agreement. Usually it is about 20% of net profit partnership. In addition, all appointed and an administrative fee, the amount of which usually amounts to 2 - 3% of net assets. Result activities of hedge fund is distributed among all the partners in proportion to their equity participation. All relationships are established Associates in detail in the partnership agreement, which is the most important part of any hedge fund.
As a hedge fund is a private investment partnership, U.S. Commission on Securities and Exchange Commission (Securities and Exchange Commission, SEC) limits the number of investors to 99, which can enter into it. In this case, at least 65 of them have have the status of "accredited". The status of "accredited" investor is defined by the criterion of net equity contribution, which has certain threshold. Its level can be very high and has a value of $ 1 million Given the fact that such investments are classified as risky, then "accredited" investor may need more prove the right to dispose of such amount, without prejudice to the family budget. In other words, give the necessary assurances that the million is not the last.
Offshore hedge funds - it's usually a mutual fund (mutual fund), resident in concessional tax areas, such as Bermuda. They are also available the same technology investments that hedge funds, so in that perspective, they are related. But, nevertheless, between them, there are some differences that are not always easily seen. Basically, it comes to income distribution from operations, the principles of entry and exit from the partnership, and transparency of performance of the business.
Поступило пару предложений дать некую научно-популярную information about hedge funds from a legal point of view. Well, this very fulfilling a request, the more that the question for people interested in this kitchen is really interesting.
hedge fund industry was the most serious development in the country, the flagship of capitalism - the United States. Accordingly, the legislation governing concepts, principles of operation, and other provisions relating to hedge funds, namely the U.S..
the American sense, a hedge fund - it is usually private investment partnership that invests primarily in publicly traded securities or financial derivatives.
One of the main features U.S. hedge funds is that they are not subject to the Investment Company Act of the United States in 1940, requiring compliance with regulatory regime, and the Securities Act of 1933, obliging funds to register with the Securities and Exchange Commission (SEC). Thus, from the point of compliance with the regulatory regime and other rules relating to securities trading, hedge funds are in a more free-legal field compared to other market participants, and, in particular, with mutual funds. However, hedge funds have some limitations. Here are the key of them:
number of participants in the fund shall not exceed 100 investors;
stock fund should not be offered for free distribution;
participants Fund may be institutional investors and individuals with high income.
to institutional investors include banks, pension funds, insurance companies and other financial institutions with large volumes of assets.
Investors from the numbers of individuals must have net assets of not less than 1 million dollars or have an annual income of at least 200 000 dollars over at least the last two years. The size of the investee amount not to exceed 20% of net assets.
hedge fund, there are two types of partners: general partner and limited partners. General partner - A person who starts a hedge fund. It also has all the daily activities of the existing stock. Limited partners are his capital, but do not participate in trading and operational activities of the Fund. A typical form of organization of the General Partner - LLC (Limited Liability Company - Limited Liability Company) thus it is unlimited liability in the partnership. The limited partners of investment partnerships is responsible only to the extent of their investment in the partnership.
For all services rendered by the general partner receives incentive fee determined by the partnership agreement. Usually it is about 20% of net profit partnership. In addition, all appointed and an administrative fee, the amount of which usually amounts to 2 - 3% of net assets. Result activities of hedge fund is distributed among all the partners in proportion to their equity participation. All relationships are established Associates in detail in the partnership agreement, which is the most important part of any hedge fund.
As a hedge fund is a private investment partnership, U.S. Commission on Securities and Exchange Commission (Securities and Exchange Commission, SEC) limits the number of investors to 99, which can enter into it. In this case, at least 65 of them have have the status of "accredited". The status of "accredited" investor is defined by the criterion of net equity contribution, which has certain threshold. Its level can be very high and has a value of $ 1 million Given the fact that such investments are classified as risky, then "accredited" investor may need more prove the right to dispose of such amount, without prejudice to the family budget. In other words, give the necessary assurances that the million is not the last.
Offshore hedge funds - it's usually a mutual fund (mutual fund), resident in concessional tax areas, such as Bermuda. They are also available the same technology investments that hedge funds, so in that perspective, they are related. But, nevertheless, between them, there are some differences that are not always easily seen. Basically, it comes to income distribution from operations, the principles of entry and exit from the partnership, and transparency of performance of the business.
Driver Para Xp Extigy
€ 25 iTunes voucher for 15 € (40% off!)
Filed under: Medizinbots
Continue reading Video: Journalist testet an der CES das Exoskelett HAL Read iphone news
Filed under: Medizinbots
Evan Ackerman is hatched on Sunday as the first person in the United States in the ten-pound robot suit HAL
. So far, the pleasure of the engineers of the company Cyberdyne and Japanese patients was reserved. The U.S. military is said to have already shown interest in the exoskeleton. Feel uneasy about the journalist, the man-machine action was not obvious - look for yourself in the video after the break.
[Via Design Boom
]
Continue reading Video: Journalist testet an der CES das Exoskelett HAL Read iphone news
Coconut Milk Natural Laxative
love and zen
In love there are no rules. There is nothing that must would make those who love. Anyone they do not owe anything. But I do not know any couples (and how do I know?), Where there would be no sex.
In Zen there are no rules. There is nothing such that was required to do Zen Buddhist. But I do not know of any Zen practice, which would not be sitting in zazen.
In love there are no rules. There is nothing that must would make those who love. Anyone they do not owe anything. But I do not know any couples (and how do I know?), Where there would be no sex.
In Zen there are no rules. There is nothing such that was required to do Zen Buddhist. But I do not know of any Zen practice, which would not be sitting in zazen.
4 Seaters Dune Buggy Blueprints
Mismatch Socks
Google brought the new version 1.3 of its
Goggles
software with three new features: it is faster when scanning bar codes, recognize advertisements in U.S. print media and delivers search results and - tata! - It solves sudoku puzzles. Stop the waste of time. Let's go to the video after the break. Chop chop.
Continue reading
Google brought the new version 1.3 of its
Goggles
software with three new features: it is faster when scanning bar codes, recognize advertisements in U.S. print media and delivers search results and - tata! - It solves sudoku puzzles. Stop the waste of time. Let's go to the video after the break. Chop chop.
Continue reading
Google Goggles solves Sudokus, scans barcodes quickly and recognizes advertising
Read
Email this Week (7 to 9.1.) Held in Berlin. Philip I learn how to name Appbackrthon "is, who or what and why Appbackr interested iOS coder [...]
desire hd htc htc desire
Read
Email this Week (7 to 9.1.) Held in Berlin. Philip I learn how to name Appbackrthon "is, who or what and why Appbackr interested iOS coder [...]
desire hd htc htc desire
Como Conseguir Shiny Stone Pokemon Soul Silver
Video: Journalist tests at the CES, the HAL exoskeleton
reported In January 2010 Frank
reported In January 2010 Frank
an award from the Korean LG blogs with the 'Korea Blog Award 2009'.
Our "Mother-Blog" is powered by many bloggers with interesting articles and a wide selection of photos. read the whole article apple news apple gadgets tech newsLupus And Life Insurance
Special Ops Tools
BILD.de iPad is not for users in the default browser accessible. Instead, it opens a page on which the Purchase App of the leaf is presented. The content of pictures, it is only on this app, or an alternative browser. Well, who wants to read already picture, but the actions of the largest German Boulevardblatttes, the online [...] apple news
BILD.de iPad is not for users in the default browser accessible. Instead, it opens a page on which the Purchase App of the leaf is presented. The content of pictures, it is only on this app, or an alternative browser. Well, who wants to read already picture, but the actions of the largest German Boulevardblatttes, the online [...] apple news
Dryver For Logitech Eyetoy Usb Camera
Google Goggles solves Sudokus, scans barcodes quickly and recognizes advertising
Today, there are numerous providers that allow you to play poker on the web. Many of you have apps that you can download for free and start playing on the smartphone. Most run the games well in the browser, especially since Android now also supports Flash. To keep track of the many poker provider, was [...]
Today, there are numerous providers that allow you to play poker on the web. Many of you have apps that you can download for free and start playing on the smartphone. Most run the games well in the browser, especially since Android now also supports Flash. To keep track of the many poker provider, was [...]
iPhone App Review 
Apple iPhone secrets secrets
Apple iPhone secrets secrets
What Are Good Places To Get Dresses
Interview: What happened to the IOS Hackathon in Berlin? LG Blog
At CES 2011
At CES 2011
he should be presented, but now there is ever a new look for this silly, but possibly quite booming gadget that's just a remote-controlled robot via Bluetooth-Ball, one of the can run the Tiltsensor the phone. The idea is, various Ball games to make it a touch of modern and new imagine, for a remote controlled ball really can do. In the video after the break, there is unfortunately only the old prototypes to see the walk the dog is kept. But an open API is the 7.5-centimeter ball, which can be charged via induction, certainly lead to success in the children Hack offices of next year. Continue reading Sphero: Robot with ball control Smartphone Read Comments smartphone news best android smartphones top android smartphones
How Much Is It Worth Shining Charizard
Korea wins? Korea Blog Awards 2010?
by Ikechukwu Onyewuenyi Who thought international disputes could leave a sweet, mouthwatering aftertaste? Well the minds behind Conflict Kitchen?Jon Rubin, Dawn Weleski and John Pena see the savory in skirmish, intending to whet palettes and satisfy appetites while educating the city of Pittsburgh on the tenets of conflict. A truly...
Angry Birds
Angry Birds Tricks
IT News
by Ikechukwu Onyewuenyi Who thought international disputes could leave a sweet, mouthwatering aftertaste? Well the minds behind Conflict Kitchen?Jon Rubin, Dawn Weleski and John Pena see the savory in skirmish, intending to whet palettes and satisfy appetites while educating the city of Pittsburgh on the tenets of conflict. A truly...
Angry Birds
Angry Birds Tricks
IT News
Tuesday, January 11, 2011
Re-certified Lifeguard
three years ago I visited the grave of Meyrink
and wrote about it on the forum. Drag here
First Meyrink interesting role in German literature. Meyrink not read no one except those who read it was required by duty. That is, I met a well-read nemetsv who have read Umberto Eco, Herman Hesse, saw even the Germans who himself, before his meeting with me, read Strugatsky. But Here's a German who would read Meyrink I've never seen. Every time I tell them that it is better Meyrink in general there is no one look at me blankly. This causes they have some sort of liberal confusion in the spirit of "if Meyrink was a good writer, we would have stood in his sights and we would be in the school were" ...
The school Meyrink do not pass. As motivation - he Austrian writer. Or Czech. But not German.
So I set out to find the grave of Gustav Meyrink. In the Wiki should only that he was burned in the crematorium of Starnberg, where he lived with the 1911th to 1932nd years. And what is interesting - Starnberg was practically village (population of three thousand people) Meyrink when he moved there. Currently, the population of Starnberg about 30-thousand, and that even by the standards of Germany is not much.
And there is a list of honorary Citizens Starnberg. All there professors, pilots, some, in general dude who from Starnberg, and that this city somehow glorified. So, Gentlemen, Gustav Meyrink, who wrote in Starnberg all his major works ("The Golem" in our 15th year? And he Starnberg with the 11th, so all the books out there written) - it not an honorary citizen. He's not on the list. The city of Starnberg, you see, there were more worthy people for whom it is worth mentioning.
began to look grave Meyrink. Until only knew that he was burned in the crematorium Starnberg, there was no information, even if he is buried there.
Starnberg - a town in Bavaria, 32 minutes by train number six from the main station of Munich. But the main station to go is not necessary, in fact, from the border to Munich, Starnberg five to ten minutes, so that this is the closest, the closest suburb. And the most expensive of all. In the luxurious Lake Starnberg, old houses, three-story mansions of those who are smarter than ... From Starnberg direct route to Munich and Bavaria, the wealthiest people are trying to own a house is on Lake Shtarnbergskom supply. Chef Chef's my mom's house there is a particular ... That's me to the fact that the city itself Starnberg all know. But absolutely nobody knows nothing about Meyrink, nor about his bond with this city even more.
neighbor of my parents Munich elderly aunt librarian. Librarians in Germany the people on duty read, aunt, "she read all that is needed is for sure." In particular, read She and Dostoyevsky and Tolstoy and Turgenev and Gogol and Bulgakov. Not because he loves this thing, because required. German writers, she called me Tuyev Khuchua of which I have not heard one. Either they are not translated into Russian, then I so dark. But the fact is most interesting is that she did not read Gustav Meyrink. Read everything. All read. A Meyrink not. Heard about it, of course, outright called me a "Golem" and that the Prague prose and all the cases. But reading is not reading.
I have her on the forehead asked why in Germany, nobody, not even the most well-read people who are not familiar with the work of Gustav Meyrink. Why and how did it happen that Meyrink not go to school. Meyrink - A sample of the brightest, imaginative and lush language, painter, poet in prose, but what you want ... How could so far and seriously push Meyrink? And my aunt
politely explained. She said that Meyrink not pass, not because he was Austrian or poorly wrote, but because Meyrink affects many aspects of the esoteric that students simply do not explain.
-A at all, "she said," should keep in mind that Gustav Meyrink was interested only in the context of his time. Then He wrote satirical interesting things, then he wrote the mystical horror stories. But German literature is filled with much more great writers and that person You touched Meyrink, Boris, it's very good, but strange at the same time, because Meyrink was one of many, even at the time, but in our it and does almost no one knows ... -I am still choked after the word "satire", and timidly asked that he wrote a satirical Meyrink. It turned out that Meyrink books were full of "bitter satire" against ... she used the German word which I did not know I had asked me to explain it to the floor, she said that the word for those people who punty many who getting better all know someone who's nose up and who are still selfish at the same time. Vobschem here against just such snobs Meyrink wrote satirical stuff. That is such a writer. Interesting only in the context of his time. What do you think?
remarkable that she read to me about Meyrink of a brochure, so it's not her personal opinion, this is some kind book for librarians was. This is the official view of German literature at the Gustav Meyrink, apparently. Satirist. The author of horror. Stephen King-type of the doroschennogo. She also told me that Meyrink before his death embraced Buddhism and that in general there in his books a lot of religious symbolism that nobody understood and because it does not read. That students, and generally people do not need it.
Then she said with great respect that Meyrink lived in Starnberg, indicating that its very, very much a weak financial position. Shtarnbergskoe lake beginning to be built estates of wealthy people is in the second decade of the past century, so if Meyrink lived there, he was a very wealthy man.
librarian proved to present a German and said:
-find out where the buried Meyrink you can in the information booth at the station in Starnberg. Or at City Hall in the municipal government cemeteries.
serious approach. I went early in Starnberg Wednesday morning the third of January, went without much hope to find Meyrink. Just for the sake of being in that city and to be closer to the goal the next time. I'm hoping that I would not be the last time his parents in Munich and if there is resting Gustav Meyrink, then someday I'll be there.
in Starnberg on Meyrink not like nothing. When I walked the streets of Amsterdam, I just felt in the face of the Green ", I think I left Prague for the city, where the golem ... Starnberg - tiny town at the foot of Munich, on the shore of a huge lake (wider Volga River, the lake is very clean and beautiful, it starts at ten meters from the train station (and still clean ...), so if you're in Starnberg wait at least five minutes on its shores) and in Starnberg nothing grand. I tried to feel the soul of something connected with Meyrink, feel confident, that Meyrink seen this lake, it is his city, and that somewhere there were born Angel western windows "and" White Dominican, "... Nothing. City as a city. Nothing is felt.
Went to Information near the station, approached the smiling guy, I say:
-those things, I'm a tourist, I want to visit the grave of the German writer Gustav Meyrink, who lived in your town. Do not tell me what cemetery he is buried? -The guy slams his eyes and screams his boss:
-chief, Gustav Meyrink - had heard something about a writer?
-No. -Responsible him chief. And rightly so. Why should the Information Desk to know something about Meyrink? Who did this Meyrink, eh?
guy decides to take my problem seriously and (Zadornov be glad), he discovers in his own competence Wikipedia.
-in Wiki is worthless for this account. "I said immediately. The guy sheepishly Wikipedia closes and opens ... what do you think? Google it opens. www.google.de - should also help the client ...
-in Google either. -Spoken I. -I searched in English, German, in Russian. If you can find information buried where Gustav Meyrink, well done will be.
Then the guy calls me at Department of Culture Municipality Starnberg. During the conversation it becomes clear that the cultural department of the town of Starnberg is also strongly aware of who is Gustav Meyrink in general and where to find him.
Comrades, I have all this time, the words of Dietrich recalled. What do you want, I can see for just such a person hiding Meyrink of the population is not just limited and targeted sabotage. People like Meyrink not necessary ... In Russia objectionable imprisoned and sent to a lunatic home, Germany is working thinner - she simply forgets. Satirist Meyrink. Yeah. And the tourist information center in the town of a population of 30,000 does not know that in this town the grave of the writer of this caliber. How do you? I could not believe it, tell me who. Do not know this. Was not. There was no Gustav Meyrink. Small, interesting writer exclusively in the context of his time. That's it.
Department of Culture, too, was not in the know. Kid promised to call at the same management of cemeteries and banal inquiries as if Meyrink was just my friend, not a world celebrity.
Meanwhile, I went for a walk around the city. In the town strongly nothing remarkable. Only the old castle which now takes control of city finances.
On the street I caught a little old lady intilligentnogo species and politely asked her:
-you live in Starnberg?
-course, soon as 50 years! Gordo said the grandmother.
-In this city there was Gustav Meyrink. This is such a writer. -Grandmother's face was clear that she did not read ... and did not hear about this too. "He died in the thirty-second year, do you think, in what the city cemetery, he would lie?
walked with grandmother in the city. She brought me to City Hall and invited to apply to the management of cemeteries ... Running in parallel taught to use the elevator. In the Municipality, said the elevator would be. There must press the button, wait for the elevator door opens, go inside ... I managed to insert that studying at a German university at the Faculty of Electrical Engineering, but the grandmother was not to appease. Listened to detailed instructions on how to use the elevator.
He went into the Municipality did not find management of cemeteries and moved to a guy in infobyuro. He handed me a piece of paper and card. The old cemetery, Section 12, grave number six.
So, if anyone would be: from the station go up the Maksimillianshtrasse, there will be a big intersection, you must go to the left of Hanfeldershtrasse. On the right hand will soon see the cemetery where a number of further administrative court. The very entrance to the cemetery at the intersection of Hanfeldershtrasse and Max-Emanuel-Strasse.
Cemetery small. Actually inspect each grave. When you log on any buried wonderful people. Luxury gravestones, says that this is the tomb of a professor or a general or somebody else like that. Among the graves Meyrink luxury large graves was not there.
I walked the cemetery - not found. Room partitions nowhere. He went into the house to the cemetery superintendent, saying "looking for a section 12, grave 6.
Name.
-Meyrink.
-Come on. "And took me.
In the center of the cemetery is a column and it is Christ. Maybe not a colony and a cross. But I thought the column. Vobschem as cemetery will go there at once that of Christ in the center of sight. We must go to Christ and from the right hand of the fourth stone is the one that you need.
tombstone higher than a man. Grey, even almost black. At the top of the grave circle divided into four vertical cross and in each sector, one letter. VIVO. It's still written on his grave.
first wrote the name of his son, apparently. Male name (I can not remember which) and written by Meyrink. Date of death 1932nd.
second line is himself Gustav Meyrink, 1868-1932.
third line, apparently, his wife. Died in the 60th. 62nd or 63rd, I think.
stone fly completely overgrown with some kind of loach, on the occasion of the winter this was all without leaves. Bars any. The grave is very high and all overgrown. Cleared only place on the stone where the names are written. The names of the letters written by prominent, that is not Gold Plated, and carved the names.
Stone perfectly normal, simple, and standing next to a more solid look. Below, on the very grave, grow some strange purple plants. Even without flowers, but as a scuba something. No such violet rostitelnosti I on the other graves are not discovered.
Very obyydenno and quiet. Old cemetery in Starnberg, deep in the cemetery, in a series of perfectly ordinary graves. Slightest pathos. I'm not even sure that the cemetery superintendent knew that the grave of the writer. Near the grave of all the stones are also bear the date 1932, apparently just settled here in the 32nd year.
long stood in front of the stone and for some reason thought to touch it or not. Stood. Even talking to a stone. But somehow, I increasingly felt that neither the stone nor the city have nothing to do with myself Gustav Meyrink. VIVO. I live. He's not here, guys. And the stone that has no relation to Meyrink. No stone goes from no particular energy, I even thought that the stone "lit" slightly weaker than the rest of the graves ...
to touch a stone I did not. Photograph, too. Went once. And touch and fotkat. Another would be next to the grave sfotkatsya, yeah ... Just slightly bowed, and went to the stone itself. I can see in front of a word and just below VIVO Gustav Meyrink 1968-1932
as is, without correcting mistakes and turnovers, now would it all совсем не так написал.
Тут оригинал.
and wrote about it on the forum. Drag here
First Meyrink interesting role in German literature. Meyrink not read no one except those who read it was required by duty. That is, I met a well-read nemetsv who have read Umberto Eco, Herman Hesse, saw even the Germans who himself, before his meeting with me, read Strugatsky. But Here's a German who would read Meyrink I've never seen. Every time I tell them that it is better Meyrink in general there is no one look at me blankly. This causes they have some sort of liberal confusion in the spirit of "if Meyrink was a good writer, we would have stood in his sights and we would be in the school were" ...
The school Meyrink do not pass. As motivation - he Austrian writer. Or Czech. But not German.
So I set out to find the grave of Gustav Meyrink. In the Wiki should only that he was burned in the crematorium of Starnberg, where he lived with the 1911th to 1932nd years. And what is interesting - Starnberg was practically village (population of three thousand people) Meyrink when he moved there. Currently, the population of Starnberg about 30-thousand, and that even by the standards of Germany is not much.
And there is a list of honorary Citizens Starnberg. All there professors, pilots, some, in general dude who from Starnberg, and that this city somehow glorified. So, Gentlemen, Gustav Meyrink, who wrote in Starnberg all his major works ("The Golem" in our 15th year? And he Starnberg with the 11th, so all the books out there written) - it not an honorary citizen. He's not on the list. The city of Starnberg, you see, there were more worthy people for whom it is worth mentioning.
began to look grave Meyrink. Until only knew that he was burned in the crematorium Starnberg, there was no information, even if he is buried there.
Starnberg - a town in Bavaria, 32 minutes by train number six from the main station of Munich. But the main station to go is not necessary, in fact, from the border to Munich, Starnberg five to ten minutes, so that this is the closest, the closest suburb. And the most expensive of all. In the luxurious Lake Starnberg, old houses, three-story mansions of those who are smarter than ... From Starnberg direct route to Munich and Bavaria, the wealthiest people are trying to own a house is on Lake Shtarnbergskom supply. Chef Chef's my mom's house there is a particular ... That's me to the fact that the city itself Starnberg all know. But absolutely nobody knows nothing about Meyrink, nor about his bond with this city even more.
neighbor of my parents Munich elderly aunt librarian. Librarians in Germany the people on duty read, aunt, "she read all that is needed is for sure." In particular, read She and Dostoyevsky and Tolstoy and Turgenev and Gogol and Bulgakov. Not because he loves this thing, because required. German writers, she called me Tuyev Khuchua of which I have not heard one. Either they are not translated into Russian, then I so dark. But the fact is most interesting is that she did not read Gustav Meyrink. Read everything. All read. A Meyrink not. Heard about it, of course, outright called me a "Golem" and that the Prague prose and all the cases. But reading is not reading.
I have her on the forehead asked why in Germany, nobody, not even the most well-read people who are not familiar with the work of Gustav Meyrink. Why and how did it happen that Meyrink not go to school. Meyrink - A sample of the brightest, imaginative and lush language, painter, poet in prose, but what you want ... How could so far and seriously push Meyrink? And my aunt
politely explained. She said that Meyrink not pass, not because he was Austrian or poorly wrote, but because Meyrink affects many aspects of the esoteric that students simply do not explain.
-A at all, "she said," should keep in mind that Gustav Meyrink was interested only in the context of his time. Then He wrote satirical interesting things, then he wrote the mystical horror stories. But German literature is filled with much more great writers and that person You touched Meyrink, Boris, it's very good, but strange at the same time, because Meyrink was one of many, even at the time, but in our it and does almost no one knows ... -I am still choked after the word "satire", and timidly asked that he wrote a satirical Meyrink. It turned out that Meyrink books were full of "bitter satire" against ... she used the German word which I did not know I had asked me to explain it to the floor, she said that the word for those people who punty many who getting better all know someone who's nose up and who are still selfish at the same time. Vobschem here against just such snobs Meyrink wrote satirical stuff. That is such a writer. Interesting only in the context of his time. What do you think?
remarkable that she read to me about Meyrink of a brochure, so it's not her personal opinion, this is some kind book for librarians was. This is the official view of German literature at the Gustav Meyrink, apparently. Satirist. The author of horror. Stephen King-type of the doroschennogo. She also told me that Meyrink before his death embraced Buddhism and that in general there in his books a lot of religious symbolism that nobody understood and because it does not read. That students, and generally people do not need it.
Then she said with great respect that Meyrink lived in Starnberg, indicating that its very, very much a weak financial position. Shtarnbergskoe lake beginning to be built estates of wealthy people is in the second decade of the past century, so if Meyrink lived there, he was a very wealthy man.
librarian proved to present a German and said:
-find out where the buried Meyrink you can in the information booth at the station in Starnberg. Or at City Hall in the municipal government cemeteries.
serious approach. I went early in Starnberg Wednesday morning the third of January, went without much hope to find Meyrink. Just for the sake of being in that city and to be closer to the goal the next time. I'm hoping that I would not be the last time his parents in Munich and if there is resting Gustav Meyrink, then someday I'll be there.
in Starnberg on Meyrink not like nothing. When I walked the streets of Amsterdam, I just felt in the face of the Green ", I think I left Prague for the city, where the golem ... Starnberg - tiny town at the foot of Munich, on the shore of a huge lake (wider Volga River, the lake is very clean and beautiful, it starts at ten meters from the train station (and still clean ...), so if you're in Starnberg wait at least five minutes on its shores) and in Starnberg nothing grand. I tried to feel the soul of something connected with Meyrink, feel confident, that Meyrink seen this lake, it is his city, and that somewhere there were born Angel western windows "and" White Dominican, "... Nothing. City as a city. Nothing is felt.
Went to Information near the station, approached the smiling guy, I say:
-those things, I'm a tourist, I want to visit the grave of the German writer Gustav Meyrink, who lived in your town. Do not tell me what cemetery he is buried? -The guy slams his eyes and screams his boss:
-chief, Gustav Meyrink - had heard something about a writer?
-No. -Responsible him chief. And rightly so. Why should the Information Desk to know something about Meyrink? Who did this Meyrink, eh?
guy decides to take my problem seriously and (Zadornov be glad), he discovers in his own competence Wikipedia.
-in Wiki is worthless for this account. "I said immediately. The guy sheepishly Wikipedia closes and opens ... what do you think? Google it opens. www.google.de - should also help the client ...
-in Google either. -Spoken I. -I searched in English, German, in Russian. If you can find information buried where Gustav Meyrink, well done will be.
Then the guy calls me at Department of Culture Municipality Starnberg. During the conversation it becomes clear that the cultural department of the town of Starnberg is also strongly aware of who is Gustav Meyrink in general and where to find him.
Comrades, I have all this time, the words of Dietrich recalled. What do you want, I can see for just such a person hiding Meyrink of the population is not just limited and targeted sabotage. People like Meyrink not necessary ... In Russia objectionable imprisoned and sent to a lunatic home, Germany is working thinner - she simply forgets. Satirist Meyrink. Yeah. And the tourist information center in the town of a population of 30,000 does not know that in this town the grave of the writer of this caliber. How do you? I could not believe it, tell me who. Do not know this. Was not. There was no Gustav Meyrink. Small, interesting writer exclusively in the context of his time. That's it.
Department of Culture, too, was not in the know. Kid promised to call at the same management of cemeteries and banal inquiries as if Meyrink was just my friend, not a world celebrity.
Meanwhile, I went for a walk around the city. In the town strongly nothing remarkable. Only the old castle which now takes control of city finances.
On the street I caught a little old lady intilligentnogo species and politely asked her:
-you live in Starnberg?
-course, soon as 50 years! Gordo said the grandmother.
-In this city there was Gustav Meyrink. This is such a writer. -Grandmother's face was clear that she did not read ... and did not hear about this too. "He died in the thirty-second year, do you think, in what the city cemetery, he would lie?
walked with grandmother in the city. She brought me to City Hall and invited to apply to the management of cemeteries ... Running in parallel taught to use the elevator. In the Municipality, said the elevator would be. There must press the button, wait for the elevator door opens, go inside ... I managed to insert that studying at a German university at the Faculty of Electrical Engineering, but the grandmother was not to appease. Listened to detailed instructions on how to use the elevator.
He went into the Municipality did not find management of cemeteries and moved to a guy in infobyuro. He handed me a piece of paper and card. The old cemetery, Section 12, grave number six.
So, if anyone would be: from the station go up the Maksimillianshtrasse, there will be a big intersection, you must go to the left of Hanfeldershtrasse. On the right hand will soon see the cemetery where a number of further administrative court. The very entrance to the cemetery at the intersection of Hanfeldershtrasse and Max-Emanuel-Strasse.
Cemetery small. Actually inspect each grave. When you log on any buried wonderful people. Luxury gravestones, says that this is the tomb of a professor or a general or somebody else like that. Among the graves Meyrink luxury large graves was not there.
I walked the cemetery - not found. Room partitions nowhere. He went into the house to the cemetery superintendent, saying "looking for a section 12, grave 6.
Name.
-Meyrink.
-Come on. "And took me.
In the center of the cemetery is a column and it is Christ. Maybe not a colony and a cross. But I thought the column. Vobschem as cemetery will go there at once that of Christ in the center of sight. We must go to Christ and from the right hand of the fourth stone is the one that you need.
tombstone higher than a man. Grey, even almost black. At the top of the grave circle divided into four vertical cross and in each sector, one letter. VIVO. It's still written on his grave.
first wrote the name of his son, apparently. Male name (I can not remember which) and written by Meyrink. Date of death 1932nd.
second line is himself Gustav Meyrink, 1868-1932.
third line, apparently, his wife. Died in the 60th. 62nd or 63rd, I think.
stone fly completely overgrown with some kind of loach, on the occasion of the winter this was all without leaves. Bars any. The grave is very high and all overgrown. Cleared only place on the stone where the names are written. The names of the letters written by prominent, that is not Gold Plated, and carved the names.
Stone perfectly normal, simple, and standing next to a more solid look. Below, on the very grave, grow some strange purple plants. Even without flowers, but as a scuba something. No such violet rostitelnosti I on the other graves are not discovered.
Very obyydenno and quiet. Old cemetery in Starnberg, deep in the cemetery, in a series of perfectly ordinary graves. Slightest pathos. I'm not even sure that the cemetery superintendent knew that the grave of the writer. Near the grave of all the stones are also bear the date 1932, apparently just settled here in the 32nd year.
long stood in front of the stone and for some reason thought to touch it or not. Stood. Even talking to a stone. But somehow, I increasingly felt that neither the stone nor the city have nothing to do with myself Gustav Meyrink. VIVO. I live. He's not here, guys. And the stone that has no relation to Meyrink. No stone goes from no particular energy, I even thought that the stone "lit" slightly weaker than the rest of the graves ...
to touch a stone I did not. Photograph, too. Went once. And touch and fotkat. Another would be next to the grave sfotkatsya, yeah ... Just slightly bowed, and went to the stone itself. I can see in front of a word and just below VIVO Gustav Meyrink 1968-1932
as is, without correcting mistakes and turnovers, now would it all совсем не так написал.
Тут оригинал.
Sonic Care Vs Water Pik
EUR / USD
At the time of publication trade is conducted along the 1.2952 level. The key to the current level - 1,30. If a couple is able to overcome it, upward correction will continue. In the opposite case - the risks reduction to 1.28 - 1.27. Players have not yet set up to go much below 1.28. As an alternative: a couple can turn from the center of the range 1,25 - 1,30. Landmark: 1.2750. Another option: a pair of will catch on the levels of 1.25, 1.22, 1.15 ... At the moment, and long-term downside risks associated with marks of 1.27 and 1.24, the risks of growth - with marks of 1.34 and 1.38. There
low activity of trading.
At the time of publication trade is conducted along the 1.2952 level. The key to the current level - 1,30. If a couple is able to overcome it, upward correction will continue. In the opposite case - the risks reduction to 1.28 - 1.27. Players have not yet set up to go much below 1.28. As an alternative: a couple can turn from the center of the range 1,25 - 1,30. Landmark: 1.2750. Another option: a pair of will catch on the levels of 1.25, 1.22, 1.15 ... At the moment, and long-term downside risks associated with marks of 1.27 and 1.24, the risks of growth - with marks of 1.34 and 1.38. There
low activity of trading.
Lacrosse Warm-ups Ideas
Choosing a broker for trading on Forex.
I often ask and the party people, and our fund clients, according to what parameters and criteria should choose a broker for forex trading. Many of them are lost in a huge list dillingovyh centers and can not choose for themselves the right broker to whom he could operate without problems, without detracting from the trading in financial markets.
As - as to choose the right broker? At that first of all pay attention?
Below is a list of the main criteria on which, in my opinion, first of all you should pay attention to when choosing a broker.
1) Reliability. This criterion includes such parameters as the license for brokerage activity, the duration of the work on the brokerage market, the availability of Positive feedback from clients, which can be read on a variety of independent forums. Also, a trader needs to know through any market maker broker brings money to the international currency market Forex (if they generally displays, although now it is extremely rare). This should be a serious organization with an excellent reputation.
2) Legal clarity. Every company is seriously engaged in brokerage services, there must be a legal contract, which should be spelled out all the nuances of the trader. It should be clearly spelled out the rules for resolving disputes, the rights and obligations of the parties, the rules the broker and the client. This agreement can often help to settle many disputes traders and brokers on a routine basis, without going to court. In addition, availability of public access such a document indicates that a fair and open the company's work with clients. Serious institutional clients obrasschayutsya advice from lawyers specializing in such topics.
3) insurance funds. In major companies, have long engaged in brokerage services, means customers must be insured with an insurance company. If your funds in the brokerage account is insured - you get them in any way that would not happen with a broker.
4) terms and conditions. This item includes such parameters as the value of a spread trader on the necessary pairs, the size of the shoulder, the size of minimum deposit. Broker who offers the most advantageous trading conditions being equal parameters, there will always be a favorite among traders.
5) Competent staff. Do not hesitate to call his future broker and ask any questions you have. Dialogue with staff will allow the broker to assess literacy personnel broker - if you do not get clear answers to their questions, it is better with the broker does not work.
6) Rules of the account opening and work with a broker. Advance should know whether a broker electronic money, requires a copy of your passport when opening an account or other documents, whether you want to sign the documents personally, or rather open an account online broker. This knowledge will allow you to protect yourself of surprises in working with the broker in advance to plan their work and open an account.
This is perhaps the main points that you should pay attention when choosing a broker. It is better to choose a broker to make his short list with the given parameters and evaluate the favorite of brokers with these parameters, For example, on a five-point system. Thus, you will have its own independent ranking of brokers, where you can choose the best one for you dealing center. The network is already fully compiled the ratings, though to them should be treated with healthy skepticism.
I often ask and the party people, and our fund clients, according to what parameters and criteria should choose a broker for forex trading. Many of them are lost in a huge list dillingovyh centers and can not choose for themselves the right broker to whom he could operate without problems, without detracting from the trading in financial markets.
As - as to choose the right broker? At that first of all pay attention?
Below is a list of the main criteria on which, in my opinion, first of all you should pay attention to when choosing a broker.
1) Reliability. This criterion includes such parameters as the license for brokerage activity, the duration of the work on the brokerage market, the availability of Positive feedback from clients, which can be read on a variety of independent forums. Also, a trader needs to know through any market maker broker brings money to the international currency market Forex (if they generally displays, although now it is extremely rare). This should be a serious organization with an excellent reputation.
2) Legal clarity. Every company is seriously engaged in brokerage services, there must be a legal contract, which should be spelled out all the nuances of the trader. It should be clearly spelled out the rules for resolving disputes, the rights and obligations of the parties, the rules the broker and the client. This agreement can often help to settle many disputes traders and brokers on a routine basis, without going to court. In addition, availability of public access such a document indicates that a fair and open the company's work with clients. Serious institutional clients obrasschayutsya advice from lawyers specializing in such topics.
3) insurance funds. In major companies, have long engaged in brokerage services, means customers must be insured with an insurance company. If your funds in the brokerage account is insured - you get them in any way that would not happen with a broker.
4) terms and conditions. This item includes such parameters as the value of a spread trader on the necessary pairs, the size of the shoulder, the size of minimum deposit. Broker who offers the most advantageous trading conditions being equal parameters, there will always be a favorite among traders.
5) Competent staff. Do not hesitate to call his future broker and ask any questions you have. Dialogue with staff will allow the broker to assess literacy personnel broker - if you do not get clear answers to their questions, it is better with the broker does not work.
6) Rules of the account opening and work with a broker. Advance should know whether a broker electronic money, requires a copy of your passport when opening an account or other documents, whether you want to sign the documents personally, or rather open an account online broker. This knowledge will allow you to protect yourself of surprises in working with the broker in advance to plan their work and open an account.
This is perhaps the main points that you should pay attention when choosing a broker. It is better to choose a broker to make his short list with the given parameters and evaluate the favorite of brokers with these parameters, For example, on a five-point system. Thus, you will have its own independent ranking of brokers, where you can choose the best one for you dealing center. The network is already fully compiled the ratings, though to them should be treated with healthy skepticism.
Monday, January 10, 2011
Nintendo Club Unused Au
der Golem
I once saw on a deserted place, like large pieces of paper - without my having the wind sensed something, because I was covered by a house - in a great rage about hunting in the counties and the other followed, as if they had death sworn. A moment later she seemed to have calmed down, but suddenly a frantic exasperation came over her, and in the senseless wrath they raced around, huddled together in a corner to again obsessed Stieben apart and eventually disappear behind a corner.
Only a thick newspaper could not come, she lay on the pavement and flipped on hatred and, as if her breath as she went out and gasp for air.
A dark suspicion then rose up in me: what if in the end we were living creatures and then something similar as those scraps of paper? - Whether it might not be an invisible, incomprehensible> Wind \u0026lt;us back and forth drives and determines our actions as we believe in our innocence under his own free will stand?
I once saw on a deserted place, like large pieces of paper - without my having the wind sensed something, because I was covered by a house - in a great rage about hunting in the counties and the other followed, as if they had death sworn. A moment later she seemed to have calmed down, but suddenly a frantic exasperation came over her, and in the senseless wrath they raced around, huddled together in a corner to again obsessed Stieben apart and eventually disappear behind a corner.
Only a thick newspaper could not come, she lay on the pavement and flipped on hatred and, as if her breath as she went out and gasp for air.
A dark suspicion then rose up in me: what if in the end we were living creatures and then something similar as those scraps of paper? - Whether it might not be an invisible, incomprehensible> Wind \u0026lt;us back and forth drives and determines our actions as we believe in our innocence under his own free will stand?
Wednesday, January 5, 2011
Leukorrhea White And Chunky?
Five Myths about the diversification of assets
Yet less reasonable diversification, as well as controlling costs - a key moment in the rational long-term investment. Over time, both These measures increase your chances for profit.
It is time to separate the myths from the reality of the distribution of assets
Myth 1
Allocation protect you in a bear market
Allocation of assets - is the strategy of choice is fundamentally different assets (stocks, bonds, real estate funds), the definition of their shares in the investment portfolio and the selection of specific securities. To invest in individual asset classes, I prefer index funds and ETF, because they have small costs they are effective in terms of taxation. But you can invest in the same tools and by actively managed funds.
Allocation should pursue two objectives: to set the level of expected long-term portfolio risk and return, and reduce the likelihood of major losses. Not surprisingly, the larger the the risk you take, the higher will be the expected returns. But the distribution of assets is also recommended as a way to diversify risks. According to this representation, each class of assets in the portfolio is associated with different risks, thus reducing the overall cumulative risk of the portfolio and smooth out short-term fluctuations.
truth is that the distribution of assets reduces the probability of large losses in a falling market, but does not prevent losses. When economic decline of your portfolio will fall in line with the overall risk to which you went. There's no getting around it.
As for performance, if different assets are unrelated risks, it is only partly true. The global economic crisis could lead to a simultaneous decrease in total investment. So it was in 1987, 1994, 1998, 2001 m, 2008. It happened in the current year. Because of the debt crisis of the Greek stocks and corporate bonds fell simultaneously.
On Wall Street busy selling investment products, prefer not to talk about it. In 2007 and early 2008, investors have invested in raw materials and hedge funds, because they were told, that these investments are not correlated with stocks and can protect in a bear market. But these risky assets have fallen along with the rest of 2008 and early 2009, investors had thrown in shock. Although this should not be a surprise to them.
Myth 2
tactical allocation - the best option in volatile market
There are two schools of asset allocation. The first is implementing a strategic approach by which investments should be allocated to the fixed shares in accordance with long-term needs, regardless of market conditions. Annually re-balanced portfolio to return ratio investment to target values. School Tactical Asset Allocation, by contrast, the share of asset classes varies, depending on short-term forecasts profits. Term tactical asset allocation can vary from several days to several years.
Tactical asset allocation - the largest fraud on Wall Street. People want to believe that someone somehow can tell them where to invest money today and are willing to pay handsomely for such advice. Each year, billions of dollars wasted on tips that do not work.
Agency Morningstar monitors tactical decisions of investors, analyzing the inflow and outflow from different classes of investment funds. Profits of investors is always lower yield funds, which reflects the folly of making tactical asset allocation.
Strategic asset allocation - is a more robust way, because he is insured against loss when trying to predict the motion market. You just need to choose a fundamentally different investments for your portfolio, invest in their funds in fixed proportions and each year the balance investments to maintain the specified share, regardless of what you think you or someone else. Over the past 10 years this method has brought quite good results.
Myth 3
There is the best way to strategic asset allocation
The ideal asset allocation does not exist at As previously it is impossible to know. Some people persist in trying to decide whether to invest them in foreign shares of 30% or 33%. This question can not answer no, and it does not matter. What's really fundamentally the long term - this is what share you invest in stocks and how much - in bonds. Rest - Just tinsel.
Many investment firms are promoting computer models, they argue, can choose an optimal distribution scheme assets based on your answers to a few simple questions. This is as absurd as computer dating service, selected the perfect pair of responses ten questions.
To choose an appropriate scheme for the distribution of assets, you must know your financial and life situation and of yourself. It is necessary to analyze the size of your state, the situation with work and income, savings and spending, the housing situation, the annual income required by the capital gains when he you will need. Need to know who will inherit the property after your departure. In addition, proper asset allocation - the one that will survive the deep and protracted downturn in the market. This ratio, which will buy more shares when they fall, and sell when they grow up. There is no courage in daring selection of risky investments, a loss which in bad market you do not have the heart to bear.
Myth 4
need constant re-balancing the portfolio
true. When you restore a relationship you are selling assets (eg stocks), which increased in price, and buy assets, whose share has fallen below a predetermined values. The positive side of this process is that it forces you to sell stocks when they're too grown up, and buy when they fell, not being involved in a hopeless game of finding the right moment for the transactions.
But too active trading does not give any advantages. Annual recovery balance leads your investment with long-term goals and provides almost the same benefits as the more complex methods of balancing the portfolio. The date of restoration of the balance can be selected on January 1, your birthday, wedding anniversary or the beginning of baseball season. No matter what it is day, as long as he was a constant.
Over the past ten years, are widely diversified portfolio that includes U.S. stocks, foreign shares, stock funds that invest in real estate and bonds, and the relation in which every year was restored, brought each year on average one percentage point more than the portfolio in which the ratio was not restored. This advantage is due to the high volatility of the market. During over a long period of recovery in the past, the benefits of the portfolio were lower, and sometimes nonexistent. But still continue to produce this operation once a year.
Myth 5
more funds, the higher the level of diversification
Owning shares in a larger number of funds does not necessarily make your investment more diversified, because they may belong to the same investment category and keep the same portfolio of securities. In 1999 I was subjected to Audit portfolio manager of a car company, who believed that his retirement savings are well diversified: he held shares of the ten investment funds. Each of these funds are implemented the similar investment objectives: growth, aggressive growth, growth of capital or technology. Portfolio was not diversified and collapsed in the fall of technology stocks in 2000-2002.
that investments have been diversified, we must have asset classes with fundamentally different risks. These asset classes should also have expected returns above inflation, like stocks and government bonds. This is also true for real estate investment funds and foreign stocks. These are good classes of assets for acquisition.
There are several asset classes, which I do not use for allocation because they have low returns or high costs. A good example - the raw material. In the long term its yield is not enough to beat inflation. Another example - it's hedge funds. These products are, strictly speaking, are not asset classes. This is illiquid, expensive, actively managed investment pools, without which you can do.
distribution of investments in different instruments will not save you from losses in a falling market. What's the point of diversification?
In recent years, said many high-sounding words about the benefits of allocation assets. But in a recent fall of stock indices investors realized how exaggerated was the topic. Allocation, or distribution of assets (in fact, really just a beautiful name of diversification) does not protect you in a bear market. No optimal asset allocation does not exist.Yet less reasonable diversification, as well as controlling costs - a key moment in the rational long-term investment. Over time, both These measures increase your chances for profit.
It is time to separate the myths from the reality of the distribution of assets
Myth 1
Allocation protect you in a bear market
Allocation of assets - is the strategy of choice is fundamentally different assets (stocks, bonds, real estate funds), the definition of their shares in the investment portfolio and the selection of specific securities. To invest in individual asset classes, I prefer index funds and ETF, because they have small costs they are effective in terms of taxation. But you can invest in the same tools and by actively managed funds.
Allocation should pursue two objectives: to set the level of expected long-term portfolio risk and return, and reduce the likelihood of major losses. Not surprisingly, the larger the the risk you take, the higher will be the expected returns. But the distribution of assets is also recommended as a way to diversify risks. According to this representation, each class of assets in the portfolio is associated with different risks, thus reducing the overall cumulative risk of the portfolio and smooth out short-term fluctuations.
truth is that the distribution of assets reduces the probability of large losses in a falling market, but does not prevent losses. When economic decline of your portfolio will fall in line with the overall risk to which you went. There's no getting around it.
As for performance, if different assets are unrelated risks, it is only partly true. The global economic crisis could lead to a simultaneous decrease in total investment. So it was in 1987, 1994, 1998, 2001 m, 2008. It happened in the current year. Because of the debt crisis of the Greek stocks and corporate bonds fell simultaneously.
On Wall Street busy selling investment products, prefer not to talk about it. In 2007 and early 2008, investors have invested in raw materials and hedge funds, because they were told, that these investments are not correlated with stocks and can protect in a bear market. But these risky assets have fallen along with the rest of 2008 and early 2009, investors had thrown in shock. Although this should not be a surprise to them.
Myth 2
tactical allocation - the best option in volatile market
There are two schools of asset allocation. The first is implementing a strategic approach by which investments should be allocated to the fixed shares in accordance with long-term needs, regardless of market conditions. Annually re-balanced portfolio to return ratio investment to target values. School Tactical Asset Allocation, by contrast, the share of asset classes varies, depending on short-term forecasts profits. Term tactical asset allocation can vary from several days to several years.
Tactical asset allocation - the largest fraud on Wall Street. People want to believe that someone somehow can tell them where to invest money today and are willing to pay handsomely for such advice. Each year, billions of dollars wasted on tips that do not work.
Agency Morningstar monitors tactical decisions of investors, analyzing the inflow and outflow from different classes of investment funds. Profits of investors is always lower yield funds, which reflects the folly of making tactical asset allocation.
Strategic asset allocation - is a more robust way, because he is insured against loss when trying to predict the motion market. You just need to choose a fundamentally different investments for your portfolio, invest in their funds in fixed proportions and each year the balance investments to maintain the specified share, regardless of what you think you or someone else. Over the past 10 years this method has brought quite good results.
Myth 3
There is the best way to strategic asset allocation
The ideal asset allocation does not exist at As previously it is impossible to know. Some people persist in trying to decide whether to invest them in foreign shares of 30% or 33%. This question can not answer no, and it does not matter. What's really fundamentally the long term - this is what share you invest in stocks and how much - in bonds. Rest - Just tinsel.
Many investment firms are promoting computer models, they argue, can choose an optimal distribution scheme assets based on your answers to a few simple questions. This is as absurd as computer dating service, selected the perfect pair of responses ten questions.
To choose an appropriate scheme for the distribution of assets, you must know your financial and life situation and of yourself. It is necessary to analyze the size of your state, the situation with work and income, savings and spending, the housing situation, the annual income required by the capital gains when he you will need. Need to know who will inherit the property after your departure. In addition, proper asset allocation - the one that will survive the deep and protracted downturn in the market. This ratio, which will buy more shares when they fall, and sell when they grow up. There is no courage in daring selection of risky investments, a loss which in bad market you do not have the heart to bear.
Myth 4
need constant re-balancing the portfolio
true. When you restore a relationship you are selling assets (eg stocks), which increased in price, and buy assets, whose share has fallen below a predetermined values. The positive side of this process is that it forces you to sell stocks when they're too grown up, and buy when they fell, not being involved in a hopeless game of finding the right moment for the transactions.
But too active trading does not give any advantages. Annual recovery balance leads your investment with long-term goals and provides almost the same benefits as the more complex methods of balancing the portfolio. The date of restoration of the balance can be selected on January 1, your birthday, wedding anniversary or the beginning of baseball season. No matter what it is day, as long as he was a constant.
Over the past ten years, are widely diversified portfolio that includes U.S. stocks, foreign shares, stock funds that invest in real estate and bonds, and the relation in which every year was restored, brought each year on average one percentage point more than the portfolio in which the ratio was not restored. This advantage is due to the high volatility of the market. During over a long period of recovery in the past, the benefits of the portfolio were lower, and sometimes nonexistent. But still continue to produce this operation once a year.
Myth 5
more funds, the higher the level of diversification
Owning shares in a larger number of funds does not necessarily make your investment more diversified, because they may belong to the same investment category and keep the same portfolio of securities. In 1999 I was subjected to Audit portfolio manager of a car company, who believed that his retirement savings are well diversified: he held shares of the ten investment funds. Each of these funds are implemented the similar investment objectives: growth, aggressive growth, growth of capital or technology. Portfolio was not diversified and collapsed in the fall of technology stocks in 2000-2002.
that investments have been diversified, we must have asset classes with fundamentally different risks. These asset classes should also have expected returns above inflation, like stocks and government bonds. This is also true for real estate investment funds and foreign stocks. These are good classes of assets for acquisition.
There are several asset classes, which I do not use for allocation because they have low returns or high costs. A good example - the raw material. In the long term its yield is not enough to beat inflation. Another example - it's hedge funds. These products are, strictly speaking, are not asset classes. This is illiquid, expensive, actively managed investment pools, without which you can do.
Are Seconal And Nembutal Part Of Opiates
Should you buy structured products?
Structured products with capital protection are gaining increasing popularity from the Russian investors. Today, every bank that serves wealthy clients, show you the stack of brochures telling about the possibilities such financial instruments. Their sales increasing: in 2008 he was in Russia $ 1 billion, and in 2009 could reach $ 1.5 billion
After last year's financial meltdown markets, undermined interest in risky investments, the fashion for structured products is understandable. But think that a magic tool offer bankers, removing him as a magician of the cylinder: the lack of risk with the possible high return. Do such things happen?
At the heart of any product with a warranty capital is generally based on a discount bond or deposit, which should provide a guaranteed refund amount. To these are added risk tools such as index futures or options. Suppose you want to invest $ 100,000 in a product with minimal risk, but with the ability to participate in the growth of Russian market. The Bank offers a deposit with a rate of 5%. Your task - to calculate how much money should be placed on deposit to a year it was $ 100,000. It's $ 95,238 and the balance - What can the risk. You can buy, such as options, or focused on the Russian market index ETF like the Market Vectors Russia under the control of American Van Eck Global. You will get a simple structural product.
fact that banks offer, of course, is somewhat more complicated. Therefore, investors are often unable to assess the real "Composition" and the cost of products. And it gives bankers the opportunity to earn relatively high fees.
This is easily seen, using evaluation function of the structural notes (another name for structured products) in the information system Bloomberg. Holding up the parameters of the notes - maturity, coupon size, index, etc. - in the appropriate fields on the screen, you can assess its real value.
For example, Russia is now possible to buy large bank note on gold, denominated in euros. By its terms, if within five years of gold traded above $ 1,169 an ounce, the annual coupon on the note is 5% if the following - 3%. If at the end of the fifth year of gold would be above this price, the note is paid off at par, if not - to 90% of par. In other words, minimum payout, which can get an investor, is 105% of nominal, and maximum - 125%. According to the Bloomberg, the net value of such notes - 98.45% of face value, while the investor is will cost 100% of nominal.
seems, the commission 1,55% of the nominal value is small? But you do not buy the shares, where the commission is of the turnover and value growth is unlimited. This product is more correct to compare with a bond that will bring you five years from 5% to 25% per annum. It is with this income is necessary to compare fees. They are, therefore, be from 6.3% to 31% of income.
But in addition to fees, the investor will be other costs. Typically, all products with capital guarantee have a limit on participation in market growth. For example, the investor receives only the first 20% of the growth index, and everything else wins the pot.
Do you have at least a private investor, earned more than 10% per annum by investing in structured products? I do not. I have long concluded: Seller notes do not assume any risk gets immodest fee, and if the investor has guessed which way the market is moving, then the seller to pocket profits.
But this is not all. Structured products may have risks, which at first glance not obvious or difficult to understand and evaluate. In any structured product, even with capital protection, there is a possibility of partial or complete loss of investment due to bankruptcy of the bank issued it. Think of Lehman Brothers. Losses in this market, no one voiced, but trust me - it's hundreds of millions of dollars. Loss of one of my friends who bought the notes of Lehman Brothers, designed to increase the gold with a guarantee protection of capital, seem to drop in the ocean.
What has changed over the year since the crisis began? Banks are selling their customers all the same products, arguing that their reliability at the level of deposits, and the yield is likely to be higher. But miracles do not happen. Increased profitability of structured products, even if you can get it can not be achieved any other way but to increase risk.
Structured products with capital protection are gaining increasing popularity from the Russian investors. Today, every bank that serves wealthy clients, show you the stack of brochures telling about the possibilities such financial instruments. Their sales increasing: in 2008 he was in Russia $ 1 billion, and in 2009 could reach $ 1.5 billion
After last year's financial meltdown markets, undermined interest in risky investments, the fashion for structured products is understandable. But think that a magic tool offer bankers, removing him as a magician of the cylinder: the lack of risk with the possible high return. Do such things happen?
At the heart of any product with a warranty capital is generally based on a discount bond or deposit, which should provide a guaranteed refund amount. To these are added risk tools such as index futures or options. Suppose you want to invest $ 100,000 in a product with minimal risk, but with the ability to participate in the growth of Russian market. The Bank offers a deposit with a rate of 5%. Your task - to calculate how much money should be placed on deposit to a year it was $ 100,000. It's $ 95,238 and the balance - What can the risk. You can buy, such as options, or focused on the Russian market index ETF like the Market Vectors Russia under the control of American Van Eck Global. You will get a simple structural product.
fact that banks offer, of course, is somewhat more complicated. Therefore, investors are often unable to assess the real "Composition" and the cost of products. And it gives bankers the opportunity to earn relatively high fees.
This is easily seen, using evaluation function of the structural notes (another name for structured products) in the information system Bloomberg. Holding up the parameters of the notes - maturity, coupon size, index, etc. - in the appropriate fields on the screen, you can assess its real value.
For example, Russia is now possible to buy large bank note on gold, denominated in euros. By its terms, if within five years of gold traded above $ 1,169 an ounce, the annual coupon on the note is 5% if the following - 3%. If at the end of the fifth year of gold would be above this price, the note is paid off at par, if not - to 90% of par. In other words, minimum payout, which can get an investor, is 105% of nominal, and maximum - 125%. According to the Bloomberg, the net value of such notes - 98.45% of face value, while the investor is will cost 100% of nominal.
seems, the commission 1,55% of the nominal value is small? But you do not buy the shares, where the commission is of the turnover and value growth is unlimited. This product is more correct to compare with a bond that will bring you five years from 5% to 25% per annum. It is with this income is necessary to compare fees. They are, therefore, be from 6.3% to 31% of income.
But in addition to fees, the investor will be other costs. Typically, all products with capital guarantee have a limit on participation in market growth. For example, the investor receives only the first 20% of the growth index, and everything else wins the pot.
Do you have at least a private investor, earned more than 10% per annum by investing in structured products? I do not. I have long concluded: Seller notes do not assume any risk gets immodest fee, and if the investor has guessed which way the market is moving, then the seller to pocket profits.
But this is not all. Structured products may have risks, which at first glance not obvious or difficult to understand and evaluate. In any structured product, even with capital protection, there is a possibility of partial or complete loss of investment due to bankruptcy of the bank issued it. Think of Lehman Brothers. Losses in this market, no one voiced, but trust me - it's hundreds of millions of dollars. Loss of one of my friends who bought the notes of Lehman Brothers, designed to increase the gold with a guarantee protection of capital, seem to drop in the ocean.
What has changed over the year since the crisis began? Banks are selling their customers all the same products, arguing that their reliability at the level of deposits, and the yield is likely to be higher. But miracles do not happen. Increased profitability of structured products, even if you can get it can not be achieved any other way but to increase risk.
How Long Does It Take Erythromycin To Work?
Managed Accounts: Is it their time? How
During the past fifteen years in the investment fund industry There were many discussions on the use of so-called managed accounts as a tool to reduce the risk of the investor. Spores were deployed at against the liquidity crisis that began in 2008 and reached its peak in 2009, when investment funds and, therefore, investors have experienced significant withdrawal of capital, which led to a dramatic reduction in liquidity, restructuring, and "limbo." In some cases, investors do not only unexpectedly turned out to be "trapped" in the funds, but also suffered from their partners when they made the decision to take away their capital, or inform about early repayment obligatsiy.kupyury
In other words, when the investment capital at risk as a result of economic instability or a crisis, there is demand for alternative investment products that allow investors to achieve greater control and transparency of investment funds. Step forward towards achieving this goal can become a managed account.
concept of "managed account" means very different things. In the most simplest form it involves a contractual account to which the investor has a legitimate right, but for which his / her investment manager receives power of attorney to operate the account. In the proxy, at the discretion of the investor, negotiated all the necessary conditions, limitations and clarifications relating to account management. Thus, an investor is able to provide those contentious issues that may arise later. At the same time, if necessary, followed by the left right, the revocation in the short term.
Another alternative, the most significant, is an account Individual investment fund managed by an investment manager. In this case the investor provides the investment of assets in exchange for equity participation. (In the Cayman Islands, it may be, for example, company stock, equity in the partnership or trust share). The use of individual Fund investor enters a corporate limited liability in its structure to protect the investor from obligations arising from the leverage (Use of borrowed capital), or short sales (selling securities without a coating).
between the fund and investment manager is agreement under which the manager is delegated the right to implement the goals and strategies of investing. Increase in stock capital is a "platform" managed account. In this case, the manager chooses a structure that provides investors with access to a wide range of trading strategies, all designed as investment manager of the data.
seems, investment managers prefer managed funds are usually discretionary accounts (ie, controlled by the bank), as management of large portfolios of capital is usually more labor intensive and takes more longer.
Managed Account offers investors the opportunity to protect its interests through greater transparency and opportunity negotiate investment terms, without worrying about other problems that arise in the case of co-investors. In the individual investment funds do not need to develop a supplement to the agreement. Managed by individual fund may use the entire existing arsenal investment techniques conventional multiinvestitsionnyh funds, and all conditions of this fund will be registered in the appropriate memorandum or any other contract developed by the fund.
If you think "managed account" sounds too good to be true, then make sure that in fact reality is reality ... However, be aware that depending on the profile of the investor, that is attractive to one person may not be suitable for another.
Managed accounts have long been part of the "landscape" of investment funds. However, given the desire of investors to more control and transparency with regard to invest, along with the need to meet growing international demands, such accounts in the near future may become popular as never before. Naturally, we are talking about cases where the size of the main contribution to justify the cost of initial charges and subsequent detention of the individual investment fund.
During the past fifteen years in the investment fund industry There were many discussions on the use of so-called managed accounts as a tool to reduce the risk of the investor. Spores were deployed at against the liquidity crisis that began in 2008 and reached its peak in 2009, when investment funds and, therefore, investors have experienced significant withdrawal of capital, which led to a dramatic reduction in liquidity, restructuring, and "limbo." In some cases, investors do not only unexpectedly turned out to be "trapped" in the funds, but also suffered from their partners when they made the decision to take away their capital, or inform about early repayment obligatsiy.kupyury
In other words, when the investment capital at risk as a result of economic instability or a crisis, there is demand for alternative investment products that allow investors to achieve greater control and transparency of investment funds. Step forward towards achieving this goal can become a managed account.
concept of "managed account" means very different things. In the most simplest form it involves a contractual account to which the investor has a legitimate right, but for which his / her investment manager receives power of attorney to operate the account. In the proxy, at the discretion of the investor, negotiated all the necessary conditions, limitations and clarifications relating to account management. Thus, an investor is able to provide those contentious issues that may arise later. At the same time, if necessary, followed by the left right, the revocation in the short term.
Another alternative, the most significant, is an account Individual investment fund managed by an investment manager. In this case the investor provides the investment of assets in exchange for equity participation. (In the Cayman Islands, it may be, for example, company stock, equity in the partnership or trust share). The use of individual Fund investor enters a corporate limited liability in its structure to protect the investor from obligations arising from the leverage (Use of borrowed capital), or short sales (selling securities without a coating).
between the fund and investment manager is agreement under which the manager is delegated the right to implement the goals and strategies of investing. Increase in stock capital is a "platform" managed account. In this case, the manager chooses a structure that provides investors with access to a wide range of trading strategies, all designed as investment manager of the data.
seems, investment managers prefer managed funds are usually discretionary accounts (ie, controlled by the bank), as management of large portfolios of capital is usually more labor intensive and takes more longer.
Managed Account offers investors the opportunity to protect its interests through greater transparency and opportunity negotiate investment terms, without worrying about other problems that arise in the case of co-investors. In the individual investment funds do not need to develop a supplement to the agreement. Managed by individual fund may use the entire existing arsenal investment techniques conventional multiinvestitsionnyh funds, and all conditions of this fund will be registered in the appropriate memorandum or any other contract developed by the fund.
If you think "managed account" sounds too good to be true, then make sure that in fact reality is reality ... However, be aware that depending on the profile of the investor, that is attractive to one person may not be suitable for another.
Managed accounts have long been part of the "landscape" of investment funds. However, given the desire of investors to more control and transparency with regard to invest, along with the need to meet growing international demands, such accounts in the near future may become popular as never before. Naturally, we are talking about cases where the size of the main contribution to justify the cost of initial charges and subsequent detention of the individual investment fund.
Signs Of Infection In A Burn
management companies are cashing in on customers' confidence
Today I want to bring to your attention an article that intended to serve to improve the financial and investment education of those who are interested in transferring their capital to asset management. Think Some moments in the most general approach to the problem would be without interest.
Today I want to bring to your attention an article that intended to serve to improve the financial and investment education of those who are interested in transferring their capital to asset management. Think Some moments in the most general approach to the problem would be without interest.
6 most common methods of fraud
«Clients are created, to remain without a penny. It remains to quickly remove from them more money and look for new customers! "- Said the senior partner of the brokerage firm, in which worked as the main character "Reminiscences of a Stock Operator". And although this book Edwin Lefevre published in 1923, representatives of investment companies still many ways to make money on customers - not just legally, but in most cases with complete impunity. Forbes spoke with the trader, the management company and an employee of a broker and found the six most common methods of fraud.
draw a good yield UIF with related structures
Regulators are tired of repeating that yield mutual funds in previous periods does not guarantee similar performance during periods of future. But consumers in these statements are not paying attention, what and enjoy some company. Inflate the profitability of the mutual fund can be a simple scheme. Asset Management the company buys for its mutual fund shares "Daisies" (the name is not accidental - in all circuits used paper of the second and lower levels) in an affiliate broker or a bank at a lower price. On the market these securities are traded for 100 rubles. The company also buys them for 85, re-evaluating, and instantly shows the yield the transaction at 18%. And the affiliate bank or broker to conceal a loss of accountability, buys stake in the fund. And there is no loss, and raised income shareholders are money.
shares sold to customers at inflated prices
Many problems associated with conflict of interest, because the management company itself trades on the exchange, and therefore can not sell to customers the best possible paper. Thus, the manager buys a stock trading account with "Daisies" and recommends buy them in their analytical reports, speaking of the great potential of growth. During the first days after the release of the report, the manager "scatters" the cost of securities by buying them for money all the same trading account, and often on the clients' money. Often, the manager makes it not alone, and agreeing with other investment companies. Seeing the rise in prices, the paper begin to buy and market investors. When the price soars enough, Managing sells all available his paper "Daisies." The cost of it after that just drops. If by the time fall in the price control does not manage to sell all the papers and on the part of the portfolio the transaction closes with a loss, this loss is most often reflected in the customer's account and not on account of the management company.
Leave a client illiquid securities in the portfolio
With the consent of the client manager buys shares in its share of "Daisies." They begin to grow. But the market not so much. Managing, understanding that growth will continue for a long time, he decides to cash in on clients' securities. He sells shares "Daisies" kinship structure, which keeps them before the end of growth period. A client manager explains that he was not sure to further increase prices and would take profits in the conservative phase.
junk bonds sold to customers
managers, buying bonds for their clients, explain this need to create an airbag - It's fixed-income instruments. But in a crisis, when defaults on corporate bonds have been so often, a new opportunity to gamble and for managers. Buy bonds "Daisies" for 40% of the nominal value and offers customers a highly promising for the 50% of the nominal value of strategies to keep to maturity. Managing earns its 10% of the cost of the paper in just a few minutes. In this case the client does not explain the risks to which the "Daisy" may declare a default on bonds or postpone payments on it for several years.
earn a commission
brokers, who earn on commissions on transactions of clients interested in maximizing the number of these transactions. Here loyal assistant broker - investment advisors, which are not formally managing the account, only give advice to clients. The most common method they use is called "shaking". This is when the first consultant gives advice to buy the paper (referring to the trading signals generated by the supposedly flawless proven robot), and Then during the day revising its forecast. Salary investkonsultantov tied to the amount of commissions from transactions. So, for example, in most brokerage houses the main strategy that the advisors recommend to their clients - intraday. After all, it assumes the maximum number of transactions.
bring down the "foot »
private investors and investment companies that buy the paper for 1-2 days and not sure that the next day the growth will continue, expose the so-called foot. This application to sell securities, which are automatically executed if the price for it reaches a certain level. These "feet" see the brokers through whom opened a trading account customers. So often in the opening exchanges, brokerage houses traders decide to "smuggle" paper. Why is this procedure so called? Traders choose an action "Daisies", which exhibited the most "stop » . Let's say, "Stop » exhibited at 50 rubles. A paper is being traded in the market for 70 rubles. Traders buy stocks "Daisies" for 70 rubles. And then sell them at once 50 rubles. Foot collapse, brokers again are buying the same stocks, but for 50 rubles. After that the price immediately returned to their previous level - 70 rubles, and traders make on the deal of 20 rubles per share.
Subscribe to:
Posts (Atom)