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Nov 27, 2008

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Unemployment Blues (Nov 27, 2008 12:21 pm)

Unemployment Blues

http://www.time.com/time/business/article/0,8599,1861115,00.html


1. Unemployment: Reasons Why It Is Harder This Time Around

To begin with, you might want to know that unemployment has its roots too. Taking a quick peek back at the Great Depression, this sad part of our history reveals that 25% of the working class people found themselves jobless. Recent report showed that unemployment rate was at 7.8% in the 80's and had a staggering increase of 11% in the early 90's. As we all know America survived without so much as a scratch, as if those two major recessions did not really happen.

Now, even if the jobless total will climb from 6.5% last October to 8% this fall, as what the experts have predicted, it was not as bad as we may have feared it to be, if we are to consider the shocking numbers those two recessions provided.

But why do economists and labor market analysts were not at all in ease with these facts? What brings them to conclude that it would be harder for each American worker to survive this crisis than he had before? If we are to reflect on their forecasts, the odds are not great, for about 2.3 millions of people will be losing their jobs next year.

It lies beneath the surface

Thomas Lam, an economist of United Overseas Bank based in Singapore, believes that this is more than a simple change in the unemployment cycle. The fact that the out of work people will find it harder to get jobs nowadays begins on what Lam, who also keeps track on the progress of the country’s economy, confirms as a United States’ structural problem.

Lam had found an outcome so alarming just by looking through what he calls as an employment flow that follows the movement of the employment cycle. The said employment flow influences the series between those people who are receiving regular salary and also those who are not that fortunate. According to Lam’s acquired information, this is definitely one of the worst timing any job seeker will encounter, even if one shall take into account those tragic recessions in American history. What makes it scarier is the fact that we have not reached 8% yet.

The lasting risks that those economists before often regarded as nonsensical to the extent of being unworthy of either time and attention, are now slowly creeping into the economy’s surface and twisting themselves with the problems of joblessness. Some of these things were planted deeply, such as a fancy term called human capital’s misallocation or career imbalance.

No matter how many reasons we have provided and defences we have invented, just to justify why we have taken things for granted, we can never turn our back to a thing is absolutely real; the United State’s employment market had reached its snapping point where no one is totally secured.

Light at the end of the tunnel

Of course this is not supposed to be all about unfortunate events, we have been in situations like this before, and there is a good possibility that we might overcome this crisis. Job transitions, painful as they may seem, might become a little easier for those college graduates, who are now almost 30% of the working population. Dean Baker, Center for Economic and Policy Research’s co-editor expected an increase in manufacturing which might save the economy from its present state. All it takes is a little faith after all. GP




http://www.time.com/time/business/article/0,8599,1856392,00.html?referer=sphere_related_content&iid=sphere-inline-bottom



2. Layoffs: The Unemployment Blade Cuts Deeper

America was gripped with fear about massive job loss when American Express announced its plan to layoff 10% of its workers, this was followed by another disconcerting news from Motorola about its plan to do the same. The well-established finance company decided to dismiss 7,000 of its staff in an attempt to accumulate $1.8 billion by this coming year as a balance strategy for their financial instability caused by the increasing number of non-paying consumers.

Meanwhile, another multinational company went after the “trend”. Motorola Inc., who took 2,600 employees away from their jobs last April, was planning one more massive layoff. Losing nearly $400 million dollars, the corporation stated that they would have to cut 3,000 people out their workforce again.

Aren’t we there yet?

For nine consecutive months, the country has experienced unsteadiness of career opportunities which also made the jobless total rose above 6%. Everybody is in the edge of their seats, anxious to know when this crisis will going to stop.

Labor market analysts and experts were not at all hopeful. Robert Reich, a Public Policy professor at the University of California, confirmed that we are still in for worst scenarios. In line with this, the former U.S. Secretary of Labor added that as the public becomes hesitant in spending their money, this will automatically results in business failure and of course, payroll reductions. The nation might expect more layoffs until 2009. Reich also believes that the previous joblessness forecast of 8% is not probable, as this prediction leaves out applicants and part-timers looking for a full-time work. In fact, he believes it could leapt up to a surprising 12%!

Susan Eaton of Lee Hecht Harrison, an outplacement firm, says that the people who belonged into this additional set are worried about the outcome, particularly in times like this, when the future becomes something you fear. Being the company's senior vice president, she always make it a point to remind her clients about the importance of being a positive-thinker and having an open mind. One must believe that in the midst of this present crisis, with just a little effort, there is a good possibility that things will get better.

Reinvention is one of the keys

Some people emerge safe and sound while some appear roughly. Coming out equipped with fresh, new skills might place you in somewhat better situation. You must accept the fact that you might not have the things you always thought you would have, like working in the same company, having the same salary or doing the same job. This crisis left us limited options to choose from. So, one must take advantage of every possible opportunities that comes his way.

Roy Krause, CEO of Spherion, a firm that handles recruitment and staffing, added his own observation of the matter. He stated that based on his firm's monthly survey of applicants that were seeking career opportunities, hopeful workers these days are not at all positive in the strength of the economy but were confident of their own capacity in finding new employment.

It seems that keeping your faith would take you anywhere. It is of man’s nature to survive. Perhaps, by looking to the brighter side, everything that does not sound good today will makes sense in the end. What matters most is to at least try. GP




http://www.guardian.co.uk/business/2008/oct/16/unemploymentdata-economics


3. A Very Lonely Christmas: Approximately 2 Million People will Be Jobless

Economists have forecasted that this downturn is the worst scenario in terms of unemployment since the early 1990s recession, dragging along the hopes of millions of currently employed people for a fulfilled and rich Christmas.

Based on the report of the Office for National Statistics, made after seeing the newest warning to the economy founded by the 14-month credit crisis, the unemployment total on the extensive Labour Force Survey rose by 164,000 just three months to August. However, the most horrible statistic to be considered since June 1991 was the total created by the previous three months, where unemployment jumped just under 1.8 million. From 5.75% to 5.2%, this has been the worst jobless rate for nearly a decade.

The “breeze” of unemployment

According to David Blanchflower, an expert on labour market, above 2 million people will be leaving their jobs by Christmas. This analysis regarding unemployment now looked conventional, he added.

Also a part of the monetary policy committee of the Bank of England, the 56,000 increase in the total of jobless, out-of-school youth was specifically worrisome for Blanchflower. The people who claimed jobless benefits leapt from last month’s 31,800 to 939,000, the eighth time it had increased consecutively.

Those people who will be affected by this unemployment crisis are from trade, hotel, and catering units, together with monetary and manufacturing services. Furthermore, London is measured to be the most influenced area in United Kingdom, due to the fact that the rate of joblessness goes up rapidly more than anyplace else.

In line with this, the Institute for Employment Studies’ director, Nigel Meager stated that every part of UK will be involved and no one will be spared. Although much attention were given to the city’s high-end jobs, those lower skilled workers, people who do not have enough financial stability to keep them safe in times like this as well as people who most likely find it hard to look for another, apparently better job, they will be in the most difficult position ever.


A glimpse of hope

In his speech made during an EU Summit, Gordon Brown assured the public that they will do anything just to make certain that people will retain their current jobs while those unfortunate ones shall be able to learn new skills for a new career. He said that they will guarantee that everybody will have a chance for opportunities.

He also gave examples such as reducing bills from gas and electricity as ways to create chances for progress and advancement. Economists, on the other hand, do not agree with this statement by saying that the government will not be able to keep up with their plans of providing more jobs while the economy continues to slow.

Capital Economics’ Vicky Redwood says that by the end of the year 2010, UK’s estimated unemployment rate will leapt within 1.5 million to 3 million while Jenny Willot, the work and pensions spokesperson of the Liberal Democrats, suggested that proper attention should be given to unemployment prior to the bank rescue package agreement.

Unemployment nowadays is indeed one of the matters to be taken seriously by everyone, especially this coming season. As the numbers of available jobs sink and more companies reducing their workforce, the chance of having an abundant and stress-free Christmas is suddenly out of reach. GP




http://www.epi.org/content.cfm/issueguides_unemployment_index


4. What You Should Know About Unemployment Insurance

Established in 1935, the unemployment insurance or UI is a combined project by the federal as well as the state to protect and support the workers who found themselves jobless against their will. The financial source of this project came from the taxes paid by the employers. Further than extensive procedures and minimum standards, the states have the power over the significant factors of their UI programs which cover:

• Eligibility requirements – an unemployed worker must file their initial claim and be qualified under the state-determined criteria to be able to find out if they become certified for UI benefits.
• UI’s duration – the maximum probable period that applies to most UI programs is 26 weeks, however due to some reasons, the duration can be a little shorter, like when the jobless already found a new employment or by some violation like refusing an “appropriate” career
• Financing – each of the states has their own policies when it comes to qualifications and willingness to provide benefits, which makes sufficient financing critical
• State variations – the advantages an unemployed worker can get and the taxes the employer pays were considerably different from one state to another because each state has their own ways on how they implement their insurance for unemployment programs
• Recommendations – because UI programs for each state are diverted, so does their degree of reform desired. Thus, some extensive guidelines are suggested like simplifying the calculations of eligibility policy and benefit and presenting more convenient advantages for the unemployed and his family to keep them away from poverty

There had been numerous changes within the employment market since this program was established. Sadly as it may sound, the program has not been able to keep up. The increase of part-time and contractual workers as well as the rise of women’s part in the labor force were among these changes.

The incapacity to keep up with this transition presents more complications for this particular group of employees, which is why reforms, which also vary from one state to another, are necessary.

Factors the State Should Consider in Providing Assistance

• the employee’s latest wages
• wide qualifications for part-time job seekers
• the number of hours worked, instead of salaries, to give way to low-wage earners
• generous benefits for the employee and his family to save them from poverty

The Truth behind Those People Who “Actually” Receives UI

This program is not really what it seems these days. Out of the entire unemployed population, only 40% receives benefits. And it looks as if men were being specially favored than women, as the rate states 41% and 39%, respectively. Also, the issue of racism can be taken into account since Whites were more privileged than Hispanics or blacks. When considering the recipiency rates of each state, one can be able to notice that certain variation also applies.

Furthermore, some jobless employees find the application for benefits discouraging and intimidating in some sense, thus considering themselves unqualified beforehand. The idea of not working enough and benefits being to low are among the reasons for this kind of behavior. GP




http://www.mercurynews.com/business/ci_11040907


5. Unemployment Benefits Have Been Extended

Nobody can tell when this crisis is going to stop. As the year-end holidays draw nearer, the President of the United States of America guaranteed continuous benefits, by means of checks, to those unemployed workers that were affected by massive lay-offs lately.

Just before President George W. Bush leaves the White House for a flight to Peru, where he is to attend an Asia-Pacific forum, he signed the rushed bill stating the extension of benefits for the out of work people.

Previously, Bush had been a little skeptical about lengthening the benefit distribution, until new statistics demonstrated unemployed workers’ claims leaping to an overwhelming 16-year high. This prompted his support for the legislation.

For those jobless people whose reimbursements are near expiration or running out, this bill, which was passed in October, provides three more months of additional benefits in attempt to give assistance to those millions of unemployed people who are still seeking new careers in this time of downturn.

The Dow Jones Industrials Tragic Story

A living proof of how complicated things are getting is what happened to Dow Jones Industrials last Thursday, whose stability plunged more than 400 points for two consecutive days. After five years of operation, they have considered it as the lowest level so far. The inability of the government and the Congress to offer aid and assistance to the sinking industry dismayed investors in some ways.

Democratic leaders have planned to cut out $25 billion from the monetary rescue plan, which amounts to $700, just to save the auto industry until next spring, but the effort has been unrecognized as the government, as well as the Senate Republicans, opposed.

If the country’s three major automakers can present evidence that states how federal assistance shall can them provide valuable ways to future financial sustainability, the Democrats are open to the idea of returning into session on the 8th of December. Meanwhile, other national actions will be given proper attention by January.

While the Bush administration struggles in keeping the effect of unemployment to a minimum, Barack Obama ensured the public that economic recovery shall be given the utmost importance on his new government.

The Highest Jobless Rate since Early 1990s Recession

The plummeting career market is expected to get poorer in 2009. This was based on the latest statistics provided by the Labor Department due to the fact that the benefit claims of those who are out of work climbed to 542,000 last week. The population of those job seekers is now over 10 million while an outrageous 6.5 percent determines the civilian jobless rate.

Charles Rangel, committee chairman of House Ways and Means, affirmed that lengthening this basic aid to support those people who are unemployed can bring optimistic outcomes, as this may lead to maintaining other jobs and keeping consumer trust.

Those people who have zeroed their jobless settlements will be given seven extra weeks of benefit payments. On the other hand, those unemployed people settling in states where the rate of unemployment is over 6% will be qualified to get thirteen extra weeks on top of 26 weeks of ordinary assistance benefits.

For the past 50 years, the government, particularly the Congress, had extended the unemployment benefits seven times during each economic downturn.

Having seen the impact on career opportunities, the press secretary of the White House, Dana Perino advised the Congress to act rapidly on the benefits bill last Thursday. It was a contradicting move, as the White House had been previously opposing this kind of idea.
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AKHENATEN AND THE AMARNA PER... (Nov 27, 2008 12:21 pm)

AKHENATEN AND THE AMARNA PERIOD

The New Kingdom emerged in 1550 B.C. when the Middle Kingdom collapsed with the invasion of Egypt by the Hyksos from the east. After Amosis expelled the Hyksos and built the Eighteenth Dynasty, the pharaohs’ objective was to make sure that the shameful and chaotic time the Egyptians encountered during the Hyksos invasion would not happen again.

One of the popular Eighteenth Dynasty pharaohs is Akhenaten, known for being the “heretic king”. His nonconformity to the Egyptian’s religious beliefs and traditions was highly recognized when he carried a revolution, also known as the Amarna Period, by rejecting the pantheon of Egyptian Gods, particularly dethroning Amun-Ra, the god of kings and the king of gods. He then attempted to impose the idea of monotheism as a concept of living, worshipping Aten as the supreme and only god, which was undeniably interpreted by the Egyptian art that had flourished, with sense of pure realism, under his reign. The king serves as the link between Aten and the people and uses art as the way of doing things way beyond tradition. Although in modern times, we could consider this concept as beautiful as well as majestic in its own way, there is no denying the effect of such representation to those Egyptians that have never been exposed to anything other than ancestral art.

The Amarna style sculpture showing Akhenaten, Nefertiti and their three daughters with Aten, symbolized by a disk with extending rays of protective hands, portrays their dialogue of love and royal intimacy. American art historian Helen Gardner wrote the following:

The sunken relief stele, perhaps from a private shrine, provided a rare look at this royal family. The mood is informal and anecdotal. Akhenaton lifts one of his daughters in order to kiss her. Another daughter sits on Nefertiti’s lap and gestures toward her father while the youngest daughter reaches out to touch a pendant on her mother’s crown. Such an intimate portrayal of the pharaoh and his family is unprecedented in Egyptian art. (p. 65-66)

Another example of this extraordinary form of realism in art, though not as popular as the one mentioned earlier, is the sculpture of Mai and his wife Urel, as part of a funerary banquet scene in the Tomb of Ramose in Thebes. The irrefutable similarities of these sculptures are the truly intimate expression of love and the appearance of what seems to be lotus flowers that symbolize eternal renewal. Even though there are certain distinctions in the sculptures; (1) the former had the two main figures facing each other while the latter’s figures were facing the right side, (2) Akhenaten and Nefertiti’s relief includes their children whilst Mai and Urel’s were portrayed with no trace of offspring, (3) Aten, who was worshipped by Akhenaten, is not present in the second sculpture; it is not really hard to see what both sculptures were trying to express: an attempt to show the purity of genuine love.

Though the Amarna period is still one of the things the Egyptian art should be proud of, it was destined to fail. Akhenaten’s successors, particularly Tutankhamun and Horemheb, created one might call a counter-revolution that restored the customary beliefs.



References

Gardner, H., Kleiner, F. S., & Mamiya C. J. (2005). Royal Intimacy. Gardner's Art Through the Ages, 66-65.
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THE ADVANTAGES OF USING E-CO... (Nov 27, 2008 12:19 pm)

THE ADVANTAGES OF USING E-COMMERCE ON BUSINESS
The idea of doing business using Internet or other electronic systems is what Electronic Commerce, also known as E-commerce, all about. Thanks to the help of ever-changing, life-improving technology that the world can offer, people nowadays have the advantage to do business not just locally, but globally as well, thus offering infinite possibilities to grow and expand. Many small businesses in every part of the world have become virtually-involved and are now embracing the dramatic rewards of E-commerce.

According to Don Schnure, the author of the article entitled “The Advantages of E-commerce For Your Business” and the founder of Cyber Samurai Marketing Inc., it is a win/win situation for all concerned, meaning both the seller and the buyer. Cost efficiency is the main advantage of E-commerce, what with the lower transaction costs and marketing of promotional materials. Moreover, as the supplies become predictable, this presents lower inventory levels, which results to lesser expenses for the company. It is also an undeniable fact that doing business online makes target market segmentation a flexible and convenient thing, removing traditional barriers such distance, race and language, making business informative, plus it saves time and offers good competition among the sellers. Buyers these days prefer to shop online as it provides them unlimited choices of valuable products and services anytime of the day.

Apart from having the necessary internet tools, one must concentrate on a very important question: Am I ready for e-commerce? It is essential to be well informed about the way e-commerce works. Things such as benefits and safety of parties involved, customer satisfaction, profitability and readiness for expansion must be taken into account. All things have their own risks, including doing business, regardless if you are the vendor or the customer.

References

Schnure, D. (2007, May 15). The Advantages of E-commerce For Your Business. Retrieved October 31, 2008, from http://ezinearticles.com/?The-Advantages-of-E-commerce-For-Your-Business&id=566072
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Definition of Horror Genre i... (Nov 27, 2008 12:19 pm)

Definition of Horror Genre in Relation to the Film “Dracula”

How do you define horror? Dictionary.com identified it as an overwhelming and painful feeling caused by something frightfully shocking, terrifying or revolting or a shuddering fear. But then, how do you recognizes the genre of horror in a film? Like science fiction, romance and comedy genre, you know what to expect when you decide to see one. But they have numerous differences; from the story’s theme to what you have felt after watching it. The horror film supposed to create an atmosphere of fear and dread; had you screaming for terror and surprise; instill a frightening image in your brain about demonic supernatural and unknown things that lie beneath the surface beyond the face of reality and normality, far from what is being considered as the natural law. Watching a horror film gives an opening into that scary world, into an outlet for the essence of fear itself, without actually being in danger.¹ They focus on the dark side of life and feed upon our nightmares. The element of antagonism, performed by a monstrous kind of being that kills, hurts or frightens human beings is always present in every horror film. Werewolves, serial killers, vampires, angry ghosts, zombies, demons, and satanic villains are popular kinds that represent the presence of evil. They possess anger, cruelty and desire to create mayhem. The gloomy and mysterious environment must be included too, such as haunted mansions, old, spooky castles as well as murky forests. Horror genre also shows the constant battle between good and evil, where evil is described at its best, or worse. From monsters under our beds to refusal of death, the horror genre speaks of the human condition and forcibly reminds us of how little we actually know and understand.²

Horror films started almost the same time the concept of film was created. It dated back over 100 years ago. And like all things, it faces change from time to time, just like our perception or the way we see fear alters as we age. The tone of horror films shifted, moving from German-influenced gothic style of filmmaking towards modern, from remakes of classical horror stories to all-human thrillers, from gory themes to disasters. They were constantly evolving and affected by man’s curiosity after something new and fresh and what is trendy. Filmmakers are beginning to look for the things that interest the viewers and the things that are not, redefining the description of horror genre.

The most profitable and most frequently portrayed character in horror films is Dracula. He is a good definition of what really is a horror genre. The film, which was derived from Bram Stoker’s novel of the same title, is about a demonic, blood-sucking vampire who hypnotically captivated his prey just by looking to them. It concerns life, death and immortality, as Dracula being an undead villain. The most prominent film about Dracula was directed by Tod Browning back in 1931 and also the first vampire film that had used sound effects. This film filled the illusions of the moviegoers, from that time until now, about what Dracula looks like. Although this movie gained enormous popularity, it is certainly not the greatest Dracula film ever. Another Dracula film close enough to compare in the 1931 version is the 1992 film Bram Stoker’s Dracula. Both films were based on the novel, but their differences were very evident, like the films’ plot and Dracula’s personality. But the two films shared the true essence of the story, almost identical. Both of them have darkness as their tone, choosing the night as the perfect time to describe Dracula’s horrifying character.

The element of antagonism is very clear in the films, with Dracula doing his ghastly acts by charming his prey and eventually taking its life by sucking blood. It is also mixed with other beings that represented evil, as the Count has the ability to transform into a wolf with terrifying red eyes, or a bat, or anything that pleases him. As for the gloomy, murky setting, the scenes were filmed in a kind of environment revealing nothing but darkness, the kind of place you would never dream of going to. Probably with some connection to the German-influenced art of expressionism, the foreboding Transylvanian castle where Dracula lives was introduced as a worn down, abandoned piece of relic located in the mountainous region.

One of the things that best described the horror genre out of this film is Dracula’s abnormal abilities, like his speaking skills using his mind and his impossible strength. These extraordinary things are beyond what we call the natural law. Meanwhile, things that are unholy or bad are always doomed to failure. This fact is a part of our beliefs. Therefore, Dracula is not as invincible as he may seem to be. Besides daylight, because of the fact that even the tiniest ray would turn him into dust, religious Christian symbols such as cross, even crossed fingers, can harm him too. They go hand in hand with the Count’s hatred towards garlic and mirrors. In conclusion about the films’ similarities and differences, Daniel M. noted that:

The films share many of the same themes, but are able to show them in such a different manner that the stories become different and original. This may have something to do with the different time periods in which the films were made.³

Horror, granted that it was an ever-changing kind of genre, has suffered identity loss sometimes, primarily because filmmakers nowadays were much concerned about their profits, thus disengaging the essence of art and its ability to play with our emotions. It is a good thing that the “real” horror makers are still there, fighting for what is still left and what is disregarded in this kind of art. I think the definition of the horror genre into a film is the way the person watching it thinks, the way he responds, the way it affected him. The definition might consider that person’s age, that person’s life and whole being, because just like us, just like everything, our fears and our perception of what is scary, change together with time.

Bibliography
“Critical Essays: The American Horror Film and the Influence of German Expressionism”, Cliffnotes.com, 2008, retrieved 7 November 2008, .
Daniel M., “’Bram Stoker’s Dracula’ Re-imagines a Classic”, [the]ENGLISH-BLOG[.com], 2005, retrieved 7 November 2008, .
“Horror Film”, Knowledgerush.com, 2003, retrieved 7 November 2008, .
Tim Dirks, “Horror Films”, Filmsite.org, 2008, retrieved 7 November 2008, .
“What is Horror Fiction?”, Horror Writers Association, 2007, retrieved 7 November 2008, .
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Which Provides a Better Meas... (Nov 27, 2008 12:17 pm)

Which Provides a Better Measure of Risk?
Risk – it is a chance or a possibility that the actual cash flows or returns from an investment will be less than what has been forecasted. Losing one’s capital or all original investments is the biggest risk an investor has to face. Trying to avoid this scenario, as much as possible, the investing world produces two popular ways on how risk can be measured.

The standard deviation is widely used technique for measuring risk. Together with the mean, which is the average that can state where the center of distribution is, you can measure the variations of specific returns. The standard deviation’s significance is to show how much data is distributed around the mean and the quantification of the broadness of the distribution. This is commonly used for those assets stated as percentages. However, its constant dependence on movements around the average and its assumption of a normal probability distribution produces flaws. That is where a relative measurement of risk might be helpful and meaningful. Dividing the standard deviation by the average return is commonly called the coefficient of variation, which is generally used for those assets stated in dollars (Hee Kim 401). Still, one must note that this process of measuring risk is useless unless it is to be compared relative to other investments. The risk can be measured upon the relationship of the values of two or more variables. The coefficient of variation can measure the dispersion of two different data series from their respective expected returns, and therefore their relative risk (Cayon Fallon & Sarmiento 2).

All in all, one can determine which way provides a better measure of risk by first analyzing the data he acquired. If one assumes a normal probability distribution, that is, if one has investments that are approximately equal in size and the expected returns are the same, he can use standard deviation to assess the probability of an event occurring while in comparing investments with different expected returns, the coefficient of variation offers a better measure of risk.


Works Cited
Cayon Fallon, Edgardo and Sarmiento, Julio Alejandro, Is Historical VaR a Reliable Tool for Relative Risk Measurement in the Colombian Stock Market?: An Empirical Analysis Using the Coefficient of Variation (11 December 2003). Available at SSRN:
Kim, Seung H., Kim, Suk H., and Kim, Kenneth A. Global Corporate Finance: Text and Cases. United Kingdom: Blackwell Publishing, 2006
“Returns and Risk.” University of North Florida. Retrieved 11 November 2008, from

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