Theories of Desire

Speculations of Desire Presentation Sophocles composed the play Antigone in the exemplary year 442BC. Antigone keeps on attracting interests and scholarly discussions the postmodernism time. Boss among the conversations in the play spins around hypotheses, fixations and new points of view of the great play. It has been seen that, as a state of truth, the play has been a fixation in the eighteenth century to date. In reality, educational premium and examination clarify the connection among Antigone and the cutting edge political, questionable and strife loaded times.Advertising We will compose a custom research paper test on Theories of Desire explicitly for you for just $16.05 $11/page Learn More Nonetheless, different quarters are of the view that Antigone presents nothing to be contemplated in the advanced subsequently excusing its pertinence to current premiums and applications. This paper adopts the advanced strategy in alluding to the pertinence of the play by fundamentally giving an understanding on the viewpoints of the hypotheses of want. It is contended that longing in Antigone is more noteworthy than the limits of men and laws. Speculations of Desire in this setting is utilized to depict the fixation that individuals have in the general public. Fixation takes various shapes in the general public since individuals have various encounters. An endeavor to comprehend Antigone must be supported by present day adjustments of the play by any semblance of Jean Cocteau, Bertolt Brecht, Jean Anouilh and Heaney. In the Anouilh’s content, the best concern spins around an assault of the family, youth, grand, beliefs and love and fellowship. In spite of Sophocles play, Anouilh leaves the amazing outline of the way of thinking of the longing for death, strangeness and blended registers. An examination of these contrasts between the cutting edge and old style writings assists with understanding the puzzle encompassing the way of thinking of death in Sophocles’s Antigone. In t he old style Antigone, Sophocles unmistakably delineates that Antigone as a character is unfamiliar to the place where there is Thebes as shown by her words to her dad in the blink of an eye before his passing. In the play, her temperament of want is difficult to comprehend and is combined with her strict concerns. This is unique in relation to Anouilh messages that uphold that Antigone decision of death is an inspiration by the bluntness and absence of enthusiasm in life because of forlornness. This life as per Anouilh is one that rehashes itself in a cycle clarified by weariness from one absence of convincing life cycle to another good for nothing in the other. A reference to Anouilh may somewhat clarify the ongoing happenings of the uprisings in the Muslim and Arab universes (Sophocles and Johnston, p. 5). By relationship, the perfect held by the toppled governments speaks to Creon’s activities in certain regards. The youthful and the old in these states speak to the Antig one in Anouilh’s content. Long stretches of state disregard to the essential and fundamental prerequisites of the individuals discovered wants and request to live better lives installed in the day by day battle and hearts of the residents of these nations. Consequently, it is from one fundamental demonstration of denying the vital needs required for better lives later on that discovers structure in a powerful nature. This is through penance of lives and blood shedding, much the same as in Antigone.Advertising Looking for inquire about paper on theory? How about we check whether we can support you! Get your first paper with 15% OFF Learn More According to Sophocles the possibility of strangeness shadows Antigone’s activities and wants. Recapping the perspective on the Muslim and Arab universes, it is additionally evident that the citizen’s present day way to deal with things is incredibly unfamiliar to the well established viewpoints of the more seasoned request. Filled by the cutting edge utilization of innovation particularly, internet based life, the young in these nations have the association of a family with goals and perspectives that people with great influence are not aware of and don't comprehend. For the old request, it is their home ground register; notwithstanding, for the new ages, this is their place of activity subsequently especially unfamiliar to what has just been built up. The emphasis on strictness is a steady token of the estimation of confidence in what is correct and equity to follow. For Antigone, this circumscribed the conviction she had in her conventions and thus her religion. For the young in these nations, the confidence in change for a superior life and the need to diagram new courses looks like what was in Antigone. Nonetheless, Anouilh’s content must guide this view in the investigation that the Arab world uprising isn't about the decision of death as Creon watches. In this way, it gets essential to ta ke note of that Anouilh’s content at this point withdraws from the precepts of the Arab life and its outcomes to the cutting edge individuals. It is the longing to right what's up all together that the people in the future may receive the rewards of the way of thinking of death. This is caught by Sophocles in Antigone of which later Creon discovers truth in. In this sense then Antigone from Anouilh turns into an alien to what Sophocles expected. The distortion of Anouilh, in this manner, permits a comprehension of the genuine effect of catastrophe one that is all around caught by Sophocles. In the expressions of Marcel Anouilh’s work comes up short on the quality expected to clarify human dramatization. As per him, Antigone’s by Sophocles, activities and wants must be clarified by summoning the thoughts in religion simply like Kierkegaard. In this manner, in this view, Anouilh’s content is a secularization of the activities in the disaster Antigone (Sopho cles and Johnston, p. 15). Sophocles catastrophe is an unmistakable accentuation on the outright logical inconsistency and hopelessness among Antigone and Creon. Obviously from their points of view they are both right in an amazing dropping between the state and family relationship. The issue is that they can't appreciate one anothers moral perspective and force in Sophocles text.Advertising We will compose a custom research paper test on Theories of Desire explicitly for you for just $16.05 $11/page Learn More Conflict, as Sophocles upholds shows up as a first layer of disharmony through antinomy in that between the two nobody is prepared to surrender ground for the other of which Anouilh neglects to demonstrate just Jean Racine’s content. In these two writings, Antigone’s world is described as an uncertainty between the living and the dead through organic clarifications. Creon and Antigone as introduced Racine and Antigone show that the two of them had choices, yet t hey unmistakably proposed to be opposing. On Antigone’s emphasis on strangeness and Kierkegaard version of the degree of subjectivity, it turns out to be evident that contention between the state and the subject is an ensured event. The reality lies in the view that restrictions and offenses in the general public act as one to choose the destiny of the individuals who maintain them to the detriment of the state. Lacking commensurability in the above view again is a wellspring of contention between the subject and the state dependent on blame held by the subject. In this view Antigone, fits the bill for the two choices in Sophocles great Antigone. By expansion, this clarifies the advanced connection among governments and their subjects. While religion states correspondence and majority rules system, much the same as the streaming waters; a profound careful investigation uncovers that even the most popularity based governments have occurrences of prominent treatment simply like in Creon’s rule. In this manner, Kierkegaard’s perception that straying from feel is a need brings truth home on account of advancement. This fortifies his declaration that it is the resurrection of present day disaster. Taking the case of the announcement of crisis circumstances in any country, it very well may be noticed that not all subjects carry on with a particular goal in mind to call for such measures. Despite what might be expected, there are residents who are acceptable in any event considering the circumstance while their siblings and sisters are on an inappropriate side of the law. In any case, for this situation, the great endure with no endeavor to justify the limits. On the subsequent note, the subject’s want for her perspective obviously puts the state and the subject on an impact way. A subject has the commitment to follow what the state requires of for successful and productive administration. Likewise, popular government characterizes that th e voice of the dominant part ought to be heard. On the off chance that the subject isn't given their due requests, at that point fundamental enduring is taken as equity. This is planned for reestablishing the state under the undetectable intensity of the subject. Further, this may mean phlebotomy by a rare sorts of people who show up not practical. At long last equity is accomplished by the activity of a rare sorts of people who deny their lives for a superior reason. Along these lines, in this craving, governmental issues and what is vital right oversees the event of such catastrophe. Enduring can be as death or even outcast. In Sophocles Antigone, there is the removal of things from their ordinary request. Regarding sexual orientation and religion, Antigone as a character goes over the edge of what is Athenian for her sex. Furthermore, Antigone doesn't speak to the state or the connection and neither the living nor the dead.Advertising Searching for inquire about paper on reasoning? We should check whether we can support you! Get your first paper with 15% OFF Find out More This intermixing of wants needs from Anouilh’s content. The way that the play bolsters Antigone, however an outcast to the happenings; Teireisia, uncovers that Sophocles’ perspective on the state as a static substance ought to be addressed under the direction of standards not handily chose normal human getting (Sophocles and Johnston, p. 39). Antigone’s want is missing as per Hegel. She speaks to what is splendid and what is satisfactory in overabundance is too acceptable to even consider living. She speaks to the individuals who can't permit the state to convey own its exercises regardless of whether right or wr

Reaction Paper: Always

Everything began with a very piece of disarray. I considered the historical backdrop of Japan or whatever however then as we showed up in the film and begin viewing the film I got inquisitive why it resembled a satire and a tad dramatization sort of film. The film was hampered on 1958 at the hour of the development of the Tokyo Tower so the screen’s shading was caramel (Classic) and the on-screen characters and actresses’ dress were great as well. There are two 2 families in this story the Suzuki family and the Chagawa family. The Suzuki family was more able than Chakagawa family. To begin the story, it is about a young lady named Mutsuko shows up in Tokyo to take an occupation in a significant car organization yet finds that she is utilized by a little auto mechanics shop possessed by Suzuki. The Suzuki shop lies nearly in the shadow of the Tokyo Tower as it transcends the horizon during development in 1958. Others in the area likewise are endeavoring to better themselves as Japan keeps on rising up out of the shadow of war. Surrendered by his single parent, youthful Junnosuke is first given off to Hiromi yet she gives him to Ryunosuke Chagawa, a battling author who just figures out how to sell experience stories for young men as his genuine books keep on being dismissed.. This two families are in some cases not in great terms yet at long last they all became companions when Hiromi bring forth her child while they’re viewing the Olympics. I like the film such a great amount of, really to be straightforward it made my cry. Particularly in the location of Ryunosuke Chagawa when he realized that his dad cherishes him so much, that his dad purchased all the scenes of his book. It’s like, for how long of agony and for how long that he was distraught with his dad despite everything, father is a dad. What's more, the area of Junnosuke when he needs to return home since he overlooked the pen the Chagawa gave when he’s still a kid. At that point I was likewise astonished in what Japan did in the opening of Olympics in that year. I resembled â€Å"Wow! Astig! †. They made the 5 rings of Olympics’ logo by the planes, the planes were the person who draw it. The films is exceptionally excellent, basic and awesome it is about ordinary troubles and delights of individuals. What I like most in this film and to finish up everything, I love or like this film since it was loaded up with bits of paramount minutes that would send you blasting out with chuckling while tears are as yet proceeding to top off your eyes. I guarantee to prescribe this film to my family, companions and different colleagues. Extraordinary compared to other film I’ve ever viewed.

An Analysis Of Hedge Fund Performances - Free Essay Example

1. INTRODUTION: Hedge funds are actively managed portfolios that hold positions in publicly traded securities. Gaurav S. Amin and Harry M. Kat (2000) stated on their report that à ¢Ã¢â€š ¬Ã…“A hedge fund is typically defined as a pooled investment vehicle that is privately organized, administrated by professional investment managers, and not widely available to the publicà ¢Ã¢â€š ¬?. It charges both a performance fee and a management fee. It allows a flexible investment for a small number of large investors (usually the minimum investment is $1 million) can use high risk techniques. 1Now days it is very clear that in the matter of alternative investment mutual fund is not performing well. As a high absolute returns and typically have features such as hurdle rates and incentive fees with high watermark provision hedge fund gives a better align to the interests of managers and investors. 2Moreover mutual funds typically use a long-only buy-and-hold type strategy on standard asset classes, which help to capture risk premia associate with equity risk, interest rate risk, default risk etc. However, they are not very helpful in capturing risk premia associate with dynamic trading strategies. That is why hedge fund comes into the picture. This is the year of 2009, which takes the greatest history of the world in the following century. In the year of 2008 the world saw the greatest fall down of the world economy. Lots of people missing their jobs, lots of company were stopped. The world economy faced the highest losses in the history. These all factors are showing only one way to makeover from that greatest downfall that is hedging. 3The last couple of decades have witnessed a rapidly growing in the hedge funds. Relative to traditional investment portfolios hedge funds exhibit some unique characteristics; they are flexible with respect to the types of securities they hold and the type of the position they take. 1 Agarwal, V. and Naik, N. (2000). à ¢Ã¢â€š ¬Ã…“Multi-period performance persistence analysis of hedge fund sà ¢Ã¢â€š ¬?. The journal of financial and quantitative analysis. Vol. 35, No,3. PP-327. 2 Agarwal, V. and Naik, N. (2004). à ¢Ã¢â€š ¬Ã…“Risks and portfolio decisions involving hedge fundsà ¢Ã¢â€š ¬?. The review of financial studies, Vol. 17, No.1. PP-64. 3 Journal of banking and finance 32(2008) 741-753- à ¢Ã¢â€š ¬Ã…“Hedge Fund Pricing and Model Uncertaintyà ¢Ã¢â€š ¬? by Spyridan D. Vrontos, Ioannis D. Vrontos, Daniel Giomouridies. 4The number of FOHFs increase by 40% between 2001 and 2003, and now comprised almost two third of the $650 billion invested in the USAà ¢Ã¢â€š ¬Ã¢â€ž ¢s hedge fund market. Due to its nature it is difficult to estimate the current size of hedge fund industry. 5Van Hedge Fund Advisors estimates that by the end of 1998 there were 5380 hedge fund managing $311 in capital, with between $800 billion and $1 trillion in total assets, which indicates the higher number of recent new entries. So far, hedge fund is based on American phenomena. About 90% hedge fund managers are based in the US, 9% in Europe and 1% in Asia and elsewhere. Now a dayà ¢Ã¢â€š ¬Ã¢â€ž ¢s around 5883 hedge funds are trading around the world. (*Barclay Hedge database) 4 Financial times, 29th October, 2003. www.vanhedge.com https://www.barclayhedge.com/products/hedge-fund-directory.html 1.1 Categories of Hedge fund investment objectives: Event Driven: Distressed securities- manager focuses on securities of companies in reorganization and bankruptcy, ranging from senior secured debt to the common stock of the company. Risk arbitrage- manager simultaneously buys stock in a company being acquired and sells stock in its acquirers. Global: International- manager pays attention to economic change around the world (except the United States) but more bottom-up oriented in that managers tend to be stock-pickers in markets they like. Uses index derivatives to a much lesser extent than macro managers. Emerging- Manager invests in less mature financial markets of the world, e.g. Hong Kong, Singapore, Pakistan, India. Because shorting is not permitted in many emerging markets, managers must go to cash or other markets when valuations make being long unattractive. Regional- Manager focuses on specific regions of the world, example- Latin America, Asia, and Europe. Global macro: Opportunistic trading manager that profits from changes in global economies typically based in major interest rate shifts. Uses leverage and derivatives. Market neutral: Long/short stocks- half long/half short. Manager attempts to lock-out or neutralize market risk. Convertible arbitrage- Manager goes long convertible securities and shorts the underlying equities. Stock index arbitrage- Manager buys a basket of stocks and sells short stock index futures, or the reverse. Fixed income arbitrage- Manager buys T-bonds and sells short index futures or the reverse. Short sales: Manager takes a position that stock prices will go down. Used as a hedge for long only portfolios and by those who feel market is approaching a bearish trend. U.S Opportunistic: Value à ¢Ã¢â€š ¬Ã¢â‚¬Å" Manager focuses on assets, cash flow, book value, out-of-favor stocks. Growth à ¢Ã¢â€š ¬Ã¢â‚¬Å" Manager invests in growth stocks, revenues, earnings, and growth potential are keys. Short term à ¢Ã¢â€š ¬Ã¢â‚¬Å" Manager holds positions for a short time frame. Fund of fund: Capital is allocated among a number of hedge funds, providing investors with access to managers they might not be able to discover or evaluate in their own. Usually has a lower minimum than a hedge fund. Source: Carl Ackermann, Richard McEnally, and David Ravenscraft, à ¢Ã¢â€š ¬Ã…“The performance of hedge funds: Risk, Return and Incentives,à ¢Ã¢â€š ¬? Journal of finance 54, no.3 (June 1999) figure 1, page-843. Reproduced from a hedge fund database firm named Managed Account Report (MAR) Inc, and distributed through LaPorte Asset Allocation System. 2. Literature review: Despite the increasing interest and recent development, few studies have been carried out on hedge funds comparing to other investment tools like mutual funds. à ¢Ã¢â€š ¬Ã…“An analysis of Hedge Fund performance 1984-2000à ¢Ã¢â€š ¬? by Capocci Daniel using one of the greatest hedge fund database ever used on his working paper (2796 individual funds including 801 dissolved), to investigate hedge funds performance using various asset-pricing models, including an extension from of Carhartà ¢Ã¢â€š ¬Ã¢â€ž ¢s (1997) model combined with Fama and French (1998), Agarwal and Naik (2000) models that take into account the fact that some hedge funds invest in emerging market bond. At the end they found that their model does a better job describing hedge funds behaviour. That appears particularly good for the Event Driven, Global Macro, US Opportunistic, Equity non-Hedge and Sector funds. Since the early 1990s, when around 2000 hedge funds were managing assets totalling capital of $60 billion, the subsequent growth in the number and asset base of hedge funds has never really been refuted. The industry only suffered from a relative slowdown in 1998, but since then has enjoyed a renewed vitality with an estimated total of 10,000funds managing more than a trillion US dollars by the end of 2006. The growing trend of the sector remained remarkably sustained during the stock market collapse that started in March 2000, when the NASDAQ composite Index reached an all-time high of 5,132 and finished three years later with a floor level of 1,253. In the meantime, the global met asset value (NAV) of hedge funds continued to grow at a steady rate of 10.6% (Van Hedge Funds Advisors International, 2002), contrasting with a decrease of 2.7% in the worldwide mutual fund industry ( Investment Company Institute, 2003). In 2001, Capocci and Hubner(2004) estimated that there were 6,000 he dge fund managing around $400 billion. In 2007, Capocci, Duquenne and Hubner (2007) estimated that there were 10,000 hedge funds managing around $1 trillion. This is a growth of 11% in the number of funds and 26% in assets over six years (6PhD thesis paper by Daniel P.J. Capocci). Other studies from practitioners Hennessee (1994), and Oberuc (1994) also showed an evidence of superior performance in the case of hedge funds. Ackernann and Al. (1999) and Liang (1999) who compared the performance of hedge funds to mutual funds and several indices, found that hedge funds constantly obtained better performance than mutual funds. Their performance was not better than the performance of the market indices considered. They also indicated that the returns in hedge funds were more unstable than both the returns of mutual funds and those of market indices. According to Brown and Al. (1997) hedge funds showing good performance in the first part of the year reduce the volatility of their portfolio in the second half of the year (Capocci Daniel- An analysis of hedge fund performance 1984-2000). Taking all these results into account hedge funds seems a good investment tool. 6 PhD thesis paper by Daniel P.J. Capocci. Electronic copy available at: http//ssrn.com/abstract=1008319. 3. Research design and Methodology: In this section I would like to describe the empirical methodology to be used to measure the performance of hedge fund as well as the performance of FTSE 100 and SP 500. My aim is to identify which will give the better return for an investor. To investigate hedge funds performance and performance of FTSE 100 and SP 500 my study will follow some models like 4-factor model from of Carhartà ¢Ã¢â€š ¬Ã¢â€ž ¢s (1997) model, the 3-factor model from Fama and French (1993) models, the Sharpe ratio (1966) and Jensenà ¢Ã¢â€š ¬Ã¢â€ž ¢s alpha (1968) and CAPM. I divide my research into three sections. First section will analyse the performance of hedge funds, FTSE 100 and SP 500. This section sets out the models of performance measurement I will use. Second section will made correlation between Hedge fund vs. FTSE 100 and Hedge fund vs. SP 500 to find out the better portfolio. Third section will exposes a discussion as well as a description of my database and finally concludes the paper. 3.1. Performance measure models: The 4-factor model from Carhart (1997) Carhartà ¢Ã¢â€š ¬Ã¢â€ž ¢s (1997) 4-factor model is an extension of the Fama and French (1993) factor model. It not only takes into account the size of the firms, the book to market ratio, but there is an additional factor for the momentum effect. Grinblatt, Titman and Wermers (1995) define this effect as buying stocks that were past winners and selling past losers. This model is estimated with the following regressions: Rpt-Rft=ÃŽÂ ±p+ÃŽÂ ²pi (Rmt à ¢Ã¢â€š ¬Ã¢â‚¬Å"Rft) + ÃŽÂ ²p2 SMBt +ÃŽÂ ²p3 HMLt + ÃŽÂ ²p4 PR1YRt + ept t= 1,2,,T Where SMBt= the factor mimicking portfolios for size; HMLt= the factor mimicking portfolio for book to market equity; PR1YRt= the factor mimicking portfolio for the momentum effect7 7 for a description of the construction of PR1YR see Carhart (1997). As stressed by Daniel et al. (1997), this model, which is effectively a four factor Jensen measure, assumes that betas with respect to the returns of four zero investment factor mimicking portfolios, are appropriate measures of multidimensional systematic risk. According to this model, in the absence of stock selection or timing abilities, the expected return for a fund is the sum of the risk free return and the products of the betas with the factor risk premium, which are simply the expected returns of each of these zero investment portfolios. The Carhart (1997) approach identifies a matching passive portfolio return for each fund return. This passive return, which is subtracted from the fund return to generate ÃŽÂ ±p, is a weighted average of the returns of the Carhart factor portfolios and the return of a one month T-bill (Capocci Daniel 2001, Journal- European Private Bankers, Nov, 2001). The 3-factor model from Fama and French (1993): Fama and French (1993) 3 factor model is estimated from an expected form of the CAPM regression. It takes the size and the book to market ratio of the firm into account. It uses the time series approach from Black, Jensen, and Scholles (1972) in the sense that the monthly returns on stocks are regressed on the returns to a market portfolio of stocks and mimicking portfolios for size and book to market. It is estimated from the following extension of the CAPM regression: Rpt-Rft=ÃŽÂ ±p+ÃŽÂ ²pi (Rmt à ¢Ã¢â€š ¬Ã¢â‚¬Å"Rft) + ÃŽÂ ²p2 SMBt +ÃŽÂ ²p3 HMLt + ept t= 1,2,,T Where, SMBt= the factor mimicking portfolios for size, and HMLt= the factor mimicking portfolio for book to market equity. SMLt which comes from small minus big meant to mimic the risk factor in returns related to size, and HMLt which comes from high minus low meant to mimic the risk factor in returns related to book to market equity8. HML (respectively SMB) is neutral relative to the size effect (respectively to the book to market). This means that these factors do a good job isolating the firm-specific components of returns (Fama and French 1993, 1995, 1996 and 2000). 8 See Fama and French (1993) for a precise description of the construction of SMBt and HMLt. The Sharp Ratio (1966): The Sharp ratios (1966) calculate the ratio of the average excess return and the return standard deviation of the fund that is being evaluated. As such it measures the excess return per unit of risk. Assuming all asset returns to be normally distributed, the CAPM tells us that in equilibrium the highest attainable Sharpe ratio is that of the market index. In more general terms, the market indexà ¢Ã¢â€š ¬Ã¢â€ž ¢s sharp ratio represents the set of return distributions that is obtained when statically combining the market index with cash. With the market index being highly diversified, these distributions offer the highest achievable expected return for every possible standard deviation (Gaurav S. Amin and Harry M.Kat (2002), Hedge fund performance 1990-2000). Jensenà ¢Ã¢â€š ¬Ã¢â€ž ¢s Alpha (1968): Jensenà ¢Ã¢â€š ¬Ã¢â€ž ¢s alpha was introduced in Jensen (1968) and equals the intercept of the regression: (Rh-Rf)= ÃŽÂ ± + ÃŽÂ ² (Ri- Rf) + eh, Where Rh is the fund return, Rf is the risk free rate and Ri is the total return on the market index. Like the Sharpe ratio, Jensenà ¢Ã¢â€š ¬Ã¢â€ž ¢s alpha is rooted in the CAPM. According to the CAPM, in equilibrium all (portfolios of) assets with the same beta will offer the same expected return, any positive deviation therefore indicates superior performance (Gaurav S. Amin and Harry M.Kat (2002), Hedge fund performance 1990-2000). Capital Asset Pricing Model: The first performance model that will be used is a capital asset pricing based single index model (CAPM). This model developed by Sharpe (1964) and Linter (1965) is the oldest performance evaluation model. Its formula is the following: Rpt à ¢Ã¢â€š ¬Ã¢â‚¬Å" Rft = ÃŽÂ ±p + ÃŽÂ ²p (Rmt-Rft) + ept t= 1,2,, T Where, Rpt= return of fund p in month t, Rft= risk free return on month t, Rmt= return of the market portfolio on month t, ept= the error term, ÃŽÂ ±p and ÃŽÂ ²p= the intercept and the slope of the regression estimated. The intercept of this equation, ÃŽÂ ±p commonly called Jensenà ¢Ã¢â€š ¬Ã¢â€ž ¢s alpha (1968) is usually interpreted as a measure of out or under performance relative to the market proxy used. There are several extension of this model have been developed like- the Breeden (1979) intertemporal CAPM or the Ferson and Schadt (1996) CAPM that allows time variation in the expected returns and the risk (Capocci Daniel 2001, An analysis of hedge fund performance 1984- 2000). 4. Data Preparation: For data preparation my first step will be to collect the monthly data of the hedge fund index, FTSE 100 and SP 500. For my data collection I will use some sources like- Credit Suisse/ Tremont Hedge Fund Index (CSTHFI hereafter) which is an appropriate representative of the entire hedge fund industry, there are three biggest database of hedge fund in the world these are Managed Account Reports (MAR), Hedge Fund Research, Inc (HFR) and TASS Management (TASS). These databases were the most used in academic and commercial hedge fund studies. For the FTSE 100 and SP 500 I will use yahoo finance. 4.1. Bias in Hedge fund data: According to Ackermann et al. (1999) and to Fung and Hsieh (2000), two upward biases exist in the case of hedge funds. They do not exist in the case of mutual funds, and they both have an opposite impact to the survivorship bias. Survivorship bias is an important issue in mutual funds performance studies (see Carhart and al. 2000). This bias is present when a database contains only funds that have data for the whole period studies. In this case, there is a risk of overestimating the mean performance because the funds that would have ceased to exist because of their bad performance would not be taken into account. The two upward biases exist because, since hedge funds are not allowed to advertise, they consider inclusion in a database primarily as a marketing tool. The first phenomenon stressed by Ackermann and al. (1999) and called the self-selection bias is present because funds that realize good performance have less incentive to report their performance to data providers in order to attract new investors. The second point called instant history bias or backfilled bias (Fung and Hsieh 2000) occurs because after inclusion a fundà ¢Ã¢â€š ¬Ã¢â€ž ¢s performance history is backfilled. This may cause an upward bias because funds with less satisfactory performance history are less likely to apply for inclusion than funds with good performance history (Capocci Daniel 2001, An analysis of hedge fund performance 1984- 2000). To avoid these biases I will try to take all funds both living and dissolved into account. Once I have collected all the data that I need I will use SPSS to test the correlation between my two benchmarks FTSE 100 and SP 500. 5. Contingency Plan: To make my research effective I made a well constructed plan. I have drafted a project plan (Appendix A) with scheduled dates for when I intend to complete sections for submission. After completing my final exam I will jump in to this field. Advises from previous students who completed their dissertation, I made my project plan flexible to keep some things in mind like supervisorà ¢Ã¢â€š ¬Ã¢â€ž ¢s holiday and any unforeseen events such as my illness. I will try to keep a good communication with my supervisor for checking that I am in right track. I plan to make some formal meetings with my supervisor to discuss my progress and I will try to inform him about the state of my work. It is hard to spending too much time over one task and going off track, I hope I will manage this if there is no rush at the very last minute. Another worry is the collecting and analysing the data, that is why I plan to collect the data early June once I have finished my research design. If I face any kind of difficulties I will inform him and make a cut-off point where I should stop searching the board data and start my own primary data. As I do all SPSS classes and briefly touched about this, I think it will be easy to analyze the data but I need to increase a bit of use of control on it by practicing more. So I will set aside time for collecting data and practice more SPSS for regression analysis. I hope if all these go well, I will make my dissertation very effectively.

5 Presidents Who Were Sued By Members of Congress

The Ideals of the Declaration of Independence - 862 Words

The Ideals of the Declaration of Independence The Declaration of Independence is the most important document in the history of the most influential nation in the modern world – The United States of America. Many other nations and societies that have gained their independence since this declaration was drafted in 1776 have used the four key ideals contained within it as a guide for their own independence. This document did much more than achieve independence for the U.S; it would drastically change the thinking of the entire world. The Declaration of Independence, written by Thomas Jefferson and adopted by the Second Continental Congress, states the reasons the British colonies of North America wanted independence in July of 1776.†¦show more content†¦That quote says that the most important idea in democracy is for the government to protect the rights of the people. The final decisions about the rights of the people are made by the people – that’s wha t makes America so great. Finally, the unalienable rights of the people are not always protected by the government because of corruption in government. In â€Å"Declaration of Tea Party Independence,† it says that the Tea Party â€Å"rejects unconstitutional domination by the Government that is supposed to be its servant. This movement has arisen, in large part, because our elected officials have failed us.† It is important that the American people have the right to alter or abolish government if they feel that it is not protecting the unalienable rights of the people. The Declaration of Independence is the document that created the great nation that we now call the United States of America. Although all four of the keys ideals are important, the unalienable rights ideal is by far the most important because without life, liberty, and the pursuit of happiness, the other three key ideals would not have meaning. Equality is a right to be protected. Consent of the go verned is needed to protect these unalienable rights. Finally, if the people feel that their unalienable rights are not being protected, they can alter or abolish government.Show MoreRelatedWhich Ideal of the Declaration of Independence Is the Most Important?699 Words   |  3 PagesOur American government became independent from Great Britain, on July 4, 1776. There was a committee of five people who wrote the Declaration of Independence. The Declaration has a structure of an introduction, a statement of ideals about government, a long list of grievances against the British, and a Declaration of Independence from Great Britain. Yet the four ideals; consent of governed, Equality, Unalienable Rights, and the right to alter or abolish, are the foundation of our government. EqualityRead MoreIdeals : The Age Of Reason And The Declaration Of Independance Essay863 Words   |  4 PagesOctober 2016 Ideals in the Age of Reason Led to the Declaration of Independance In the Age of Reason, writers were most interested in logical arguments. They focused on faith and valued reason and order. The important writers in the Age of Reason were mostly political figures, so the writing concentrated on equality, individualism and self governance. The Declaration of Independence also focuses on equality and self governance by giving people their individual rights. The ideals of the Age ofRead MoreCritical Analysis Of The Declaration Of Independence960 Words   |  4 PagesThe Declaration of Independence was adopted by the Second Continental Congress at Independence Hall in Philadelphia on July 4, 1776. The document announced that the colonies regarded themselves as thirteen newly independent sovereign states no longer under British rule. The writers of the Declaration expressed ideals stating that men are created equal and that all men have basic human rights given to them by God. The purpose of a government, according to the Founding Fathers, was to p rotect the basicRead MoreJean Jacques Rousseau And The Declaration Of Independence Essay1459 Words   |  6 Pagespeople should decide how they are governed. Like The Social Contract, the Declaration of Independence is a document that sets out to explain the relationship between a government and its people based on an an understanding of that relationship. The Declaration of Independence was composed by Thomas Jefferson in 1766, and shares many of the same ideals as The Social Contract. The Social Contract and the Declaration of Independence are more similar than different because Jean-Jacques Rousseau influencedRead MoreEssay on Epitome of Enlightenment 1232 Words   |  5 PagesRevolution. The American Declaration of Independence, written in 1776 is one of the most significant examples of a document whose writing was motivated by enlightenment principles. (http://dogofletters.wordpress.com). It proposed some basic principles of how the authors believed humanity should be treated by a government and proscribed governmental actions they found reprehensible; therefore, it would not be wrong to call it an epitome of enlightenment. The Declaration of Independence is the most significantRead MoreIdeals Of The American Revolution1100 Words   |  5 Pagescontradicts the ideals of the American Revolution, rather, the Constitution corresponds and complies with a doctrine of fair governance as elucidated by the Declaration of Independence and thus allows for the system of checks and balances imperative to a final product that can guarantee a unified egalitarian republic. However, in order to prove this point, it must be conceded that the so-called â€Å"ideals of the American Revolution† can be no better embodied by one defining document than the Declaration of IndependenceRead MoreEssay On The Declaration Of Independence778 Words   |  4 Pages On July 4th, 1776, the Declaration of Independence was signed by the founding fathers, thus implementing the foundation of the American government. The Declaration of Independence represents great significance in the history of the United States due to its influen ce throughout time. The Declaration signifies the rebellion against the British Parliament and the unification of the colonies in the fight for equality, liberty, and justice. Furthermore, the Declaration established a new form of governmentRead MoreClassical Liberalism: Two Treatises on Government by John Locke1152 Words   |  5 Pagesare not inherently bad. If anything, the people need someone to guide them but not have absolute rule over them. Revolutions have been based off of Enlightenment ideals because they are used to benefit the majority not the rich elite. John Locke, and his book Two Treatises on Government, impacted the Enlightenment by spreading the ideals around the world, which influenced revolutions. Locke wrote that â€Å"the state of nature has a law of nature to govern it, which obliges every one: and reason, whichRead MorePrinciples Of John Locke And The Declaration Of Independence1021 Words   |  5 Pages Essay Question: RELATE the ideas of John Locke to the Declaration of Independence by DISCUSSING three main ideas in the Declaration of Independence and how each relates to the Natural Rights Philosophy. FCA 1: Clearly stated definition AND explanation of Natural Rights Philosophy. (35 points) FCA 2: Correct and consistent verb usage. (15 points) FCA 3: No unnecessary words and phrases; no repetition. (15 points) FCA 4: Concluding remarks that summarizes the focus of the essay and emphasizesRead More Modern Day Relevance of The Declaration of Independence Essay969 Words   |  4 PagesRelevance of The Declaration of Independence The Declaration of Independence is one of the most important documents produced by an American thinker. Reading The Declaration of Independence presents the reader with a window into the world of revolutionary America. It conveys the dynamic nature of the time better than any written work of the period. The real importance of The Declaration of Independence lies not in the purpose for which Jefferson created it, to declare independence from Great Britain

El Amor Racional El Patriotismo Y Sus free essay sample

El Amor Racional, El Patriotismo Y Sus Degeneracio Essay, Research Paper El Cupid racional, el patriotismo y Sus degeneraciones El patriotismo, +c mo podr brotar con energ a en EL alma de aqu llos cuya vida moral, por muy robusta Y pujante que pueda ser, est divorciada, se halla en contradicci n con La historia, con EL desenvolvimiento moral de su patria? De la mezcla del amor pasional en el patriotismo, nacen Sus diethylstilbestrols rdenes y sus degeneraciones o adulteraciones ; pero antes de venir a tratar de ellos, bueno ser fijarnos en EL elemento esencial, que constituye La medida del patriotismo verdadero. Este elemento Es, wickedness duda alguna, el Cupid racional, el cual Es tanto m s intenso, en lo que a la patria Se refiere, cuanto La vida moral es m s intensa Y est m s en harmon a con EL desenvolvimiento moral de la Historia patria.La primera parte de esta aserci n es enteramente evidente, para quien penetre Sus T rminos. We will write a custom essay sample on El Amor Racional El Patriotismo Y Sus or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page La vida moral consiste esencialmente en conocimiento Y Cupid racionales. Donde ambos faltan, como en los brutos, no hay vida moral ; donde boy rudimentarios, como en los salvajes u guies degenerados, la vida moral Es asimismo mezquina. As como La vegetaci N, se proporciona a los influjos de la luz y colour, por donde Se muestra exuberante en los climas tropicales y exigua en las zonas heladas ; as La vida moral guarda proporci n con La claridad de la inteligencia, a que sigue La energ a de la voluntad.Por esta raz N, no s lo en EL salvaje, cuyo entendimiento est obscurecido, y Toda su existencia absorbida por La apremiante necesidad de proporcionarse las cosas m s indispensables a una vida degree Fahrenheit sica suffering, sino tambi N en el guy subyugado por La tiran a de los sentidos Y EL despotismo embrutecedor de las pasiones sensuales, la vida moral Es raqu tica, wickedness elevaci n ni energy ; es lo que los m seros musgos que cubren las rocas de las altos monta as, comparados con La frondosa vegetaci N que crece en el fondo de los repuestos y soleados valles.En EL guy entregado a los viles apetitos de su carne, y tiranizado por Las bajas pasiones, en el guy en quien no Se halla una vida moral intensa, es quim anti-racketeering law buscar los elevados sentimientos del amor a La patria. El patriotismo no Es sino una de las manifestaciones m s nobles de la vida moral ; por consiguiente, no puede hallarse, por lo menos en un grado noteworthy, donde La misma vida moral Es ruin Y rastrera.Pero hay m s ; no basta cualquiera direcci n en rgica de la vida moral, para dar lugar a una pujante eflorescencia del patriotismo ; sino es menester que esa vida moral intensa est nut harmon a con EL desenvolvimiento hist anti-racketeering law de la patria.Esto se desprende, con cubic decimeter gica vitamin E ineludible necesidad, de los principios del patriotismo. + El patriotismo de la patria grande, es La solidaridad del individuo con la Historia patria # 8230 ; ; esa s olidaridad no Se funda en solas consideraciones de utilidad o pol tica, ni en solas relaciones de procedencia tnica ; mas, incluyendo en city manager o menor grado esos elementos, tiene por lawsuit EL desenvolvimiento hist anti-racketeering law, que da a los Pueblo, bajo La direcci n de la Providencia, su unidad Y auto cter propio. , Mas siendo sta La naturaleza del patriotismo, +c mo podr brotar con energ a en EL alma de aqu llos cuya vida moral, por muy robusta Y pujante que pueda ser, est divorciada, se halla en contradicci n con La historia, con EL desenvolvimiento moral de su patria? El Cupid solo puede estribar s lidamente en la conveniencia o harmon a de cualidades entre los seres que se Amens ; por consiguiente, el amor a La patria, al todo moral a que pertenecemos por nuestro Nacimiento, no puede ser verdaderamente fervoroso, cuando no existe esa harmon a entre nuestra vida moral Y EL auto cter moral de nuestra patria, que est determinado, no por el capricho de un corto n*m ero de guies, sino por EL desarrollo layman de su historia bajo la direcci n suprema de la Providencia divina.Con estas dos normas, es degree Fahrenheit cil estimar los verdaderos quilates del patriotismo, y convencer Y sacar a La verg enza los ruines intentos, que procuran encubrir con este nombre venerando Sus maquinaciones abominables. El amor a La patria es uno de los thousand s vehementes afectos de todo coraz N generoso, y por ende, la apelaci n al patriotismo es uno de las m s eficaces conjuras para excitar Y dirigir a las muchedumbres populares. Por esa misma raz n Es m s necesario un criterio, una piedra de toque, con que poder, en cualquiera momento, analizar Y discernir EL patriotismo verdadero Y EL falso, para abrazarse con EL primero Y repudiar Y desenmascarar EL segundo. Mas parity esto, apenas Se hallar N otros principios thousand s claros y seguros que estos dos que proponemos.-+ Quienes boy esos hombres que, invocando EL nombre sagrado de la patria, alzan una bander a, y pretenden ponerse Al frentede La aspiraciones y los movimientos populares? +Son guies abnegados, desprendidos de sus propios intereses personales, se ores de Sus bajas pasiones, capaces de sacrificarse en aras de la virtud y del bien moral? Ellos as lo afirman, wickedness duda ; pero no podemos creerlos bajo su solo palabra. Atendamos primero a Sus acciones ; fij glandular fevers en su moralidad ; que, donde no hay una vida moral intensa, no Es posible que haya un patriotismo fervoroso y capaz de las grandes acciones y sacrificios! +Qui Nes boy, pues, repito, esos guies que nos hablan en nombre de la patria? Examinad de cerca Sus costumbres, parity apreciar los grados de intensidad de su vida moral. Y notemos que aqu puede admitirse menos que en otras materias aquella sutil distinci n entre la vida p*blica y la vida privada ; pues la vida moral Es esencialmente ntima, como que echa Sus Ra Ces profundas en la inteligencia y en la voluntad libre, que boy lo m s ntimo del humano compuesto. Con este solo examinations, caen en tierra innumerables alardes de patriotismo de tantos salvadores ap crifos, de tantos patriotas de tramoya, como Han producido La agitaciones pol ticas, las sublevaciones militares, todas las revoluciones modernas! Ex fructibus eorum cognoscetis Eos. # 8220 ; Por Sus frutos los conocer is # 8221 ; , dice la irrecurable sentencia evang lica. Los resultados de las revoluciones, a que hour angle asistido La generaci n senescente, forman un inmenso mentis a los patri ticos alardes con que Se inauguraron. La insaciable codicia que Se descubri en la hora de distribuir el bot N, puso de manifiesto no Haber sido EL amor a La patria, sino EL m s feroz self-importance smo, EL sentimiento que hab a impulsado a los revolucionarios. Pero no Es menester aguardar Al xito de los trastornos, que se nos predican como incomparables panaceas, para aquilatar EL patriotismo de los corifeos de la revoluci n pol tica y societal, en que Se pretende hacernos ver la salud de la patria! Ex fructibus eorum. -Por los frutos- esto Es, por las obras de ellos- los conocer is. Fijaos s lo un momento en su vida moral, y ved si Es una vida intensa ; una vida guiada por los brillos de la serena raz N, una vida ense oreada por La verdadera libertad moral, que consiste en el dominio de la voluntad racional sobre La pasiones y m viles inferiores del guy. Si no hay eso en vuestros flamantes patriotas, si viven esclavizados por los apetitos ; si est n sometidos Al imperio de la vanidad, amantes de la ostentaci n, del lujo, de las fr volas adulaciones ; si en su vida privada se arrastran por el fango de las pasiones bestiales, o sucumben diariamente a las tentaciones del inter s, de la ambici n, de la rastrera lisonja ; dejadles alardear de patriotismo! +C minute puede Haber en ellos lo m s alto de la vida moral, si lupus erythematosuss falta hasta el primer cimiento de ella? + C mo podemos creer que est n dispuestos a sacrificarse por La patria, los que sacrifican cotidianamente su moralidad en las aras de Venus y de Baco ; de Plut N, dios del boodle, y de Mercurio, numen tutelar de los ladrones? Bastar a abrir por cualquiera de sus p ginas la historia contempor nea, para persuadirnos de la exactitud de estas observaciones, y hallarlas constantemente comprobadas por la experiencia. Pero no queremos escarbar en el inmundo lodo, ni hacer brotar la podre de los purulentos tumores. Fij monos s lo en la *ltima de las luchas que hace un siglo sostuvo nuestra patria por su independencia. +Qui Nes fueron entonces los que Se mostraron prontos a arrostrar los tormentos de la guerra, la miseria y la muerte, en las aras de la religi n y del patriotismo? No fueron, ciertamente, los muelles cortesanos, que capitulaban vergonzosamente en Bayona! No fueron los hombres corrompidos por Todas las degeneraciones de una larga decadencia! Fue el sufrido Pueblo, avezado a tolerar EL despotismo de aquellos mismos que ahora se entregaban cobardemente ; fueron los frailes, acostumbr ados a vivir en la pobreza de una celda Y macerar su carne, parity someterla Al imperio del clairvoyance ritu, y hacer florecer en s mismos con pujanza La vida moral! Mas no basta cualquiera energ a moral, que nos haga oponernos a los enemigos exteriores de nuestra naci N, parity elevarnos a los Lords sentimientos del genuino patriotismo ; sino es necesario que esa energ a moral intensa est nut harmon a con EL auto cter que hour angle impreso a nuestra patria EL desenvolvimiento secular de su Historia. Muchos Jerem as de la libertad tienen un patriotismo del rpm s ; un Cupid a La patria, no nut cuanto Es su madre ; el ser de quienellos proceden ; sino en cuanta quisieran que fuese su hechura, ajustada a Sus relish Y formada a su imagen Y semejanza. Ese Cupid, aun cuando tuviera un ideal elevado Y s lido, nunca seria EL verdadero sentimiento de patriotismo que venimos estudiando ; pero, adem s, corre nan riesgo de no ser sino un disfraz del self-importance smo Y desordenado Cupid pro pio, el cual, mientras proclama EL perfeccionamiento de la propia naci n, no busca en realidad sino Sus particulares ventajas. De uno de los patriotas reformadores, wickedness duda el m s famoso de la edad Antigua, Se refiere una cosa que quisi ramos nosotros se aplicara a todos los reformadores modernos. Licurgo, habiendo wainscot Sus leyes a los espartanos, no sacadas de su cacumen, sino restablecidas seg*n la norma de sus antepasados, los antiguos dorios, conservada de su pureza en la isla de Creta ; luego que Las plante, se ausent de Esparta, exigiendo a Sus conciudadanos el juramento de no hacer innovaci n en ellas hasta su regreso # 8230 ; , i y no regres en su vida! No ignoro La interpretaci N que a este hecho dan vulgarmente los historiadores ; pero sospecho que admite otra mucho m s honda. Licurgo se debi ausentar de la nueva organizaci n por el establecida, parity asegurar a los espartanos que hab a procedido con desinter s, Y tener un argumento ineludible con que rechaza r las pretensiones de nuevos reformadores. Oh # 8220 ; patriotas fervorosos # 8221 ; , ac rrimos defensores de la Supremac a del Estado! Nosotros creeremos en el patriotismo que os anima, cuando, al asegurarnos la excelencia de los atributos de la Soberan a, no make-believe is revestiros de ella ; cuando, al proclamar La eficacia round fica del Estado, nadie pueda sospechar que December s en vuestro fuero interno: El Estado somos nosotros! Presentadnos todos los proyectos que quer is para labrar nuestra felicidad ; pero dadnos al propio tiempo un argumento fidedigno de la pureza de vuestros intentos, desterr ndos voluntariamente, como EL nan Licurgo, de toda posici n que haga recaer principalmente sobre vosotros las ventajas de esa nueva organizaci n que nos ofrec is! Ya sabemos que este expediente no se hour angle de adopta ; pero lo proponemos parity sensibilizar una verdad oculta bajo muchos falsos patriotismos ; es a sabre: que el *nico m vil de todas esas aspiraciones seudo p atri ticas, que pretenden sacar a una naci n de los rieles por donde Se hour angle movido su vida nacional Durante los siglos que La constituyeron, no suele ser, en resumidas cuentas, sino EL self-importance smo, estimulado por la esperanza de entrar a La parte en la distribuci n de los cargos p*blicos, vacantes o nuevamente creados.Esto Se descubre claramente en las disidencias que acostumbran a dividir despu s del triunfo, cuando Se trata de repartir el bot N, a aquellos mismos que hab an estado m s un nimes en los vitamin D as de la conspiraci n y el com*n peligro. Ellos mismos, con los bruscos desahogos de su ego smo lastimado, suelen rasgar EL velo que hab a cubierto Durante alg*n tiempo Sus fraudulentos manejos, Y poner en evidencia que, el pretendido amor a La patria, no epoch sino grosera ambici N ; y que no reconocen otra patria suya, sino lo que EL Ap stol llam su dios: Es decir, el conjunto # 8230 ; de sus v sceras abdominales! Para no dejarse enga ar por Las alharaca pa tri ticas de los narratives, hay que recurrir de nuevo al primero de los criterios que hemos se alado: a La intensidad Y pureza de su vida moral, persuadi ndose de que el patriotismo no Es s lo un sentimiento, sino una virtud elevada, que no puede hallarse genuinamente en los guies de endeble moralidad.

Raffaello Sanzio Essays - Raphael Rooms, Renaissance Art, Raphael

Raffaello Sanzio annon During a time when Michelangelo and Leonardo Da Vinci were the prime artists in Europe, a young man by the name of Raffaello Sanzio was starting to attract major attention with his artworks. The Italian high renaissance was marked by paintings expressing human grandeur and very humanistic values. No one better portrayed the Italian high Renaissance then Raphael Sanzio, with his paintings clarity and ease of composition, Raphael was easily one of the greatest painters of this period. Born in an artistically influenced town in Italy called Urbino, Raffaello Sanzio was first taught by his father, Giovanni Santi, how to compose works of art at a very early age. At the age of fourteen, Raphaels father realized his sons potential and sent him to a very talented teacher by the name of Pietro Perugino. Pietro Perugino lived from 1478 to 1520, and had a strong influence on Raphaels early artworks. Perugino was a Umbrian painter who loved to incorporate beautiful landscapes into his paintings. Raphaels early works resembled Peruginos so much that paintings such as the Crucifixion with the Virgin, Saint John, Saint Jerome, and Saint Mary Magdalene were thought to be Raphaels until the church of San Gimingniano proved that they were in fact Peruginos. Raphael was only 14. It is undoubtedly a Perugino calmly emotional, and pious rather than passionate(Pioch). Unlike the other great painters of this time such as Michelangelo and Da Vinci, Raphael was born with a great understanding of art and required little instruction if any. Because of Raphaels great understanding of the arts, he quickly surpassed his teacher and ventured out on his own to the great city of Florence in 1504. At the same time Raphael arrived in Florence, the other great painters of time, Michelangelo and Leonardo Da Vinci were the popular painters of the city. Because of the competitive environment of Florence, Raphael adopted many new painting techniques such as shading, anatomy, and frozen action. Both Michelangelo and Da Vincis styles influenced Raphael while he was in Florence. Raphaels energetic paintings with softness and balance such as the Small Cauper Madonna, were influenced directly from Michelangelo. While Raphael was in Florence, Duke Guidobaldo employed him to paint a painting for King Henry VII of England. In the painting Saint George and the Dragon, Raphael portrays Saint George as a brave warrior fighting against a dragon right outside its lair. In contrast to the action of the painting, the background is peaceful and serene. In the story of Saint George, after the dragon is slain, the town all converts to Christianity, symbolizing the triumph of Christianity over all. Raphael stayed in Florence until he decided to go to Rome where he could branch out and away from his two competitors. Once in Rome, Raphael was immediately commissioned by Pope Julius II because of his uncanny gift for painting sacred and secular paintings. Julius II had Raphael paint the rooms of the Vatican apartment which brought life to the otherwise dull walls of the stanze. When Raphael arrived at the Vatican palace, Michelangelo was busy painting the Sistine Chapel ceiling. Raphael started the stanze walls around 1508 and didnt finish until 1511. Raphael had painted the walls to celebrate the four aspects of human accomplishment: theology, philosophy, arts, and law. To represent theology, was the Disputation of the Sacrament. To represent philosophy was the famous School of Athens, in which Raphael paints Michelangelo and himself in amongst the philosophers. To represent the arts was Parnassus and finally to represent law was Cardinal Virtues. When fused together, these four aspects marked the transition from the middle ages to modern times. (Taylor, 59) After he finished the frescos in the Vatican Palace, Raphael went on to fresco the Stanza dEliodoro between the years 1511 and 1514. Again Raphael depicted four historical events that illustrated salvation by divine intervention with his unparalleled gift for painting Christian paintings. Throughout Raphaels artistic career, he went back to paintings portraying the Madonna and child many times. The Alba Madonna, was one of Raphaels most famous Madonnas because it differed so much from traditional Roman art. The Madonnas of this time were usually shown sitting on a throne, but Raphael painted her in the middle of a field which I think added a realism without shattering her queenly image. Raphael also painted the Alba Madonna in a classic symmetrical triangle which was consistent with the painting techniques of that time. Raphaels painted more then forty Madonnas before his untimely death in 1520. (The Metropolitan Museum of Art, 22) After suffering in bed for fifteen days, Raphael Sanzio died on his birthday at