Investment Management Essays

Investment Management Essays Investment Management Essay Investment Management Essay 24/02/2013 1 25721 INVESTMENT MANAGEMENT Lecturers: Sean Anthonisz Nadima El-Hassan Jianxin Wang Brandon Zhu Subject Coordinator: Jianxin Wang Objectives 2 ? ? ? ? Why do you take this subject? What do you expect to learn? How much did you pay for this subject? Is this a good investment? Investment Decisions 3 ? ? How much should I invest in risky assets? How much should I invest in different risky assets? ? ? How many risky assets should I hold? When not to diversify? ? How to determine mispricing? Fair value today? Expected return next year? ? How well do asset pricing models work? ? ? 1 24/02/2013 Investment Decisions 4 ? Passive versus active investing ? ? Is market efficient? Why not? What does it take to beat the market? How to hedge and how much to hedge? Derivative pricing Trading cost, liquidity, private information ? How should I manage risk? ? ? ? How should I trade? ? ? Sources of my performance? What Do We Learn in This Subject? 5 ? ? ? ? A theoretical framework for portfolio construction. A theoretical framework for the pricing of equities and bonds. Some practical applications of asset pricing models and portfolio analysis. Issues relating to market efficiency and investor behaviour. Course Structure 6 Funds Management Information Portfolio Theory Risk and Return Markets and Investing CAPM Factor Models APT Options Fixed Income Equities Futures 2 24/02/2013 Investment Electives 7 ? ? ? ? ? ? 25705 Financial Modelling and Forecasting 25728 Bond Portfolio Management 25729 Applied Portfolio Management 24731 International Finance 25762 Synthetic Financial Products A whole range of subjects for Quant Fin majors: technical analysis, numerical analysis, fin econometrics, stat methods, derivative pricing, interest rate modelling. Prerequisite 8 ? ? 25742 Financial Management Basic math and statistics Basic calculus and optimization Probability and distributions ? Mean, variance, standard deviation, covariance ? Linear regression by ordinary least square (OLS) ? ? ? Read the online Quantitative Review ? A very brief review next week What Is Expected – in class 9 ? Lectures are primarily aimed at Identifying and explaining key concepts and issues Highlighting the links to practice ? Completing selected problems from text ? ? ? Questions are encouraged and rewarded. ? Discussion is better than lecture Mutual respect and encouragement; Potential problems: repeated late arrivals, chatting during lecture, academic honesty Code of behavior ? ? 3 24/02/2013 What Is Expected – outside class 10 ? Address some details within the course reading materials. ? Group study is more effective ? ? Workload is about 7-8 hours per week on average (albeit uneven), including course readings, practices, and assignments. Multiple learning channels: ? ? Multiple levels of learning: ? Web-bas ed learning support Lecture material, textbook, and Excel sheets Approach to Learning 11 ? ? ? Read relevant chapters prior to lectures Attempt to identify and understand the key messages: Concepts? Issues? Connections? Ask questions during lecture. ? You paid $$$ for the opportunity ? ? Think reflect; don’t just summarize memorize. Practice using back-of-chapter questions. Approach to Learning I listen and I forget; I see and I remember; I do and I understand. Xun Zi Just Do It! Nike 12 4 24/02/2013 Textbook and Readings 13 ? Bodie, Kane, Marcus, Investments, 9th Ed, McGraw-Hill/Irwin, 2011. ? You take full responsibility if using an earlier edition. ? ? ? ? Harvard Business School case study 9202-024 â€Å"Strategic Capital Management†. R. A. Haugen, Modern Investment Theory, 5th Ed, Pearson Higher Education, 2001. J. H. Cochrane, 2006, Investments Notes. Other fun books on financial markets. Assessments 14 ? Weekly online quizzes: 10 marks ? ? ? ? ? 15 MC questions in 1 hour Unlimited tries with the best mark kept Monday morning to next Wednesday midnight Once closed, quizzes cannot be reopened Best 10 marks for the semester Group-based case report Online group registration Report due 5pm Friday March 29 Late submissions carry point deduction ? Case study in lecture 6: 10 marks ? ? ? ? Assessments 15 ? Mid-session exam: 40 marks ? ? ? ? Cover lectures 1 – 6, including the case study Multiple-choice (20 marks) Short-answer questions (20 marks) No formula sheet Cover lectures 7 – 13, excluding lecture 8 Multiple-choice (20 marks) Short-answer questions (20 marks) A short list of formulas will be identified and provided during the final exam. ? Final exam: 40 marks ? ? ? ? 5 24/02/2013 Online Group Registration 16 ? ? ? ? ? ? Log in the online course website Click on â€Å"Groups† in the left panel Group names contain â€Å"1m†, â€Å"2m†, â€Å"3m†, â€Å"4m†, indicating max members = 1, 2, 3, 4, respectively. The first member is the group leader. Registration closes after 5pm on March 10. Changing group only in the most extreme circumstances. What’s Required? 17 ? ? ? Materials covered in the chapters listed in the lecture program, except certain subsections are explicitly excluded. The midsession and the final exams will focus on materials covered during lectures, with at most 3-4 multiple-choice questions in each exam on materials not covered in lectures. Materials not covered in lectures will be heavily featured in the online quizzes. Administrative Issues 8 ? Name sign: â€Å"Open† for the business of learning ? Take it out at the start of every lecture It’s good to make the lecturer know your name ? Come to consultation hours ? ? ? Other times by appointment Email for straightforward questions Complex questions are best answered through interactive discussion ? Emails will be answered before or during the next consultation hours ? 6 24/02/2013 Learning Support P ostgraduate ? ? ? ? ? Need help with your postgraduate studies at UTS Business School? Are you new to university / postgraduate education? Not sure to how develop your academic skills in writing, reading, critical thinking etc.? Not sure how to complete assignments or achieve your best? Ask for help from the Learning Support Coordinator ? ? ? ? ? ? Make appointments for confidential individual help Lots of ‘online study resources’ to recommend / hardcopy study resources to share Attend the Study Skills Workshops all semester / or download them / Help by email / phone support / Email: [emailprotected] edu. au www: business. uts. edu. au/teaching/student/resources/studen t-learning. tml Join us on facebook UTSBlearningsupport ? Asset Classes 20 ? ? ? ? ? ? The money market The bond market The equity market The real estate market Currency markets Derivative markets ? Financial and commodities ? Others? Trading Platforms 21 ? Organized exchanges Dealership markets Auction markets ? Electronic trading ? ? ? ? OTC NASDAQ Alternative trading systems (ATS) ? ECNs, dark pools, internal crossings. ? Algorithm/high f requency trading 7 24/02/2013 High Frequency Trading 22 ? Menkveld (2011): a HFTer on Chi-X Dutch stocks from Jan 2007 to June 2008 Trades 1400 times per stock per day ? Gross profit per trade â‚ ¬0. 88 ? ? ? ? ? â‚ ¬1. 55 profit on the spread net of fees â‚ ¬0. 45 profit on positions 5 seconds â‚ ¬1. 13 loss on positions = 5 seconds Max capital committed ? â‚ ¬2 million per stock ? Implied annualized Sharpe ratio = 9. 35! ? ? Sharpe ratio for SP500 over the period = -0. 16 ? Chi-X is in Australia. Costs of Trading 23 ? Commission: fee paid to broker for making the transaction ? Exchange members/subscribers? ? Spread: Bid and ask prices Spread: ask – bid ? P89, #14 ? Market versus limit orders ? ? ? Price impact of large trades Stock Margin Trading 24 ? ? ? ? Borrow (from brokers) to purchase shares Initial margin Maintenance margin minimum level the equity margin can be Margin call ? Call for more equity funds ? Margin arrangements differ for stocks and derivatives 8 24/02/2013 Margin Trading Initial Conditions 25 ? ? ? ? ? X Corp: P = $70 Initial Margin = 50% Maintenance Margin = 40% 1000 Shares Purchased Initial Position: Stock $70,000 Borrowed Equity $35,000 $35,000 Maintenance Margin 26 ? ? Stock price falls to $60 per share New Position ? $60,000=$35,000(Borrowed) + 25,000(Equity) ? Margin = $25,000/$60,000 = 41. 67% How far can the price fall before a margin call? ? ? (1000P $35,000) / 1000P = 40% P = $58. 33 ? P88, #9 Short Sale 27 ? ? Purpose: Profit from a price fall Mechanics Borrow stock through a dealer/broker Sell it and deposit proceeds and margin in an account ? Any dividend is passed back to the lender ? Closing out the position ? ? ? ? Buy back the stock and return it to the lender Prof its can be deposited into your own account ? Naked versus covered short sale 9 24/02/2013 Short Sale Initial Conditions 28 Z Corp Initial Margin Maintenance Margin Initial Price Sale Proceeds Margin Account Balance 100 Shares 50% 30% $100 $10,000 $ 5,000 $15,000 Short Sale Maintenance Margin 29 ? Stock Price Rises to $110 Stock owed Net equity ? Margin % (4000/11000) ? ? $11,000 $ 4,000 36% ? ? How much can the stock price rise before a margin call? ($15,000 100P) / (100P) = 30% P = $115. 38 P89, #12 Summary 30 ? Course introduction and requirements ? Think, reflect, and participate ? ? Financial markets and assets Trading of financial assets Trading platforms Transaction costs ? Margin trading and short selling ? ? 10

Free Essays on Dallas Museum Of Art

The Dallas Museum Of Art During my visit at The Dallas Museum Of Art I came to a revelation that I had stepped into a building with a world of its own. When I proceeded to my first exhibit I was, honestly, mildly amused. As I examined the room filled with artwork decorating the walls, I could not locate a painting that would seize my attention until; I walked through the door and into another part of the exhibit. In this room I saw a painting that did just that, ravished my senses, but unbeknown to me this would be a regular occurrence for the duration of my visit. Walking through the different exhibits was captivating, with some causing me to feel deep emotion in just observing them. The sculptures were magnificent being able to pay close advertency to the detail. I immensely enjoyed my time at the Dallas Museum Of Art and look forward to going back. The first piece of artwork I selected was â€Å"Lise in a White Shawl†. I selected this work of art because as soon as I laid eyes upon her it seemed as though she was staring back. I particularly love the eyes of this painting because they appeared so lifelike as though a person was concealed behind the canvas. The painting was done in oils, which gave the whole scene a very realistic feel to it. Pierre Auguste Renoir was the artist of this artwork and secret lover of the woman in the painting, which I believe is why it’s done so elegantly. The painting looks as if a lot of dedication and passion was expressed in the creation of this masterpiece. The artist captures everything from her worry free and calm expression to the contours of her fingers adjusting her shawl, it’s just absolutely astonishing. The second piece of artwork I selected was â€Å"Ugolino And His Children†. This particular piece was a sculpture made by Jean Baptiste Carpeaux and was a created scene from the book â€Å"Dante’s Inferno†. Consigned to the ninth circle, second ring of hell in Da... Free Essays on Dallas Museum Of Art Free Essays on Dallas Museum Of Art The Dallas Museum Of Art During my visit at The Dallas Museum Of Art I came to a revelation that I had stepped into a building with a world of its own. When I proceeded to my first exhibit I was, honestly, mildly amused. As I examined the room filled with artwork decorating the walls, I could not locate a painting that would seize my attention until; I walked through the door and into another part of the exhibit. In this room I saw a painting that did just that, ravished my senses, but unbeknown to me this would be a regular occurrence for the duration of my visit. Walking through the different exhibits was captivating, with some causing me to feel deep emotion in just observing them. The sculptures were magnificent being able to pay close advertency to the detail. I immensely enjoyed my time at the Dallas Museum Of Art and look forward to going back. The first piece of artwork I selected was â€Å"Lise in a White Shawl†. I selected this work of art because as soon as I laid eyes upon her it seemed as though she was staring back. I particularly love the eyes of this painting because they appeared so lifelike as though a person was concealed behind the canvas. The painting was done in oils, which gave the whole scene a very realistic feel to it. Pierre Auguste Renoir was the artist of this artwork and secret lover of the woman in the painting, which I believe is why it’s done so elegantly. The painting looks as if a lot of dedication and passion was expressed in the creation of this masterpiece. The artist captures everything from her worry free and calm expression to the contours of her fingers adjusting her shawl, it’s just absolutely astonishing. The second piece of artwork I selected was â€Å"Ugolino And His Children†. This particular piece was a sculpture made by Jean Baptiste Carpeaux and was a created scene from the book â€Å"Dante’s Inferno†. Consigned to the ninth circle, second ring of hell in Da...

Post-WWII Jewish Migration

Post-WWII Jewish Migration Approximately six million European Jews were killed in the Holocaust during World War II. Many of the European Jews who survived the persecution and death camps had nowhere to go after V-E Day, May 8, 1945. Not only had Europe been practically destroyed, but many survivors did not want to return to their pre-war homes in Poland or Germany. Jews became Displaced Persons (also known as DPs) and spent time in helter-skelter camps, some of which were located at former concentration camps. As the Allies were taking Europe back from Germany in 1944-1945, the Allied armies liberated the Nazi concentration camps. These camps, which housed from a few dozen to thousands of survivors, were complete surprises for most of the liberating armies. The armies were overwhelmed by the misery, by the victims who were so thin and near-death. A dramatic example of what the soldiers found upon liberation of the camps occurred at Dachau where a train load of 50 boxcars of prisoners sat on the railroad for days as the Germans were escaping. There were about 100 people in each boxcar and, of the 5,000 prisoners, about 3,000 were already dead upon the arrival of the army. Thousands of survivors still died in the days and weeks following liberation and the military buried the dead in individual and mass graves. Generally, the Allied armies rounded up concentration camp victims and forced them to remain in the confines of the camp under armed guard. Medical personnel were brought into the camps to care for the victims and food supplies were provided but conditions in the camps were dismal. When available, nearby SS living quarters were used as hospitals. Survivors had no method of contacting relatives as they were not allowed to send or receive mail. The survivors were forced to sleep in their bunkers, wear their camp uniforms, and were not allowed to leave the barbed-wire camps, all while the German population outside of the camps were able to try to return to normal life. The military reasoned that the Holocaust survivors (now essentially their prisoners) could not roam the countryside for fear that they would attack civilians. By June, word of poor treatment of Holocaust survivors reached Washington, D.C. President Harry S. Truman, anxious to appease concerns, sent Earl G. Harrison, the dean of the University of Pennsylvania Law School, to Europe to investigate the ramshackle DP camps. Harrison was shocked by the conditions he found, As things stand now, we appear to be treating the Jews as the Nazis treated them, except that we do not exterminate them. They are in concentration camps, in large numbers under our military guard instead of SS troops. One is led to wonder whether the German people, seeing this, are not supposing that we are following or at least condoning Nazi policy. (Proudfoot, 325) Harrison strongly recommended to President Truman that 100,000 Jews, the approximate number of DPs in Europe at the time, be allowed to enter Palestine. As the United Kingdom controlled Palestine, Truman contacted the British Prime Minister Clement Atlee with the recommendation but Britain demurred, fearing repercussions (especially problems with oil) from Arab nations if Jews were allowed into the Middle East. Britain convened a joint United States-United Kingdom committee, the Anglo-American Committee of Inquiry, to investigate the status of DPs. Their report, issued in April 1946, concurred with the Harrison report and recommended that 100,000 Jews be allowed into Palestine. Atlee ignored the recommendation and proclaimed that 1,500 Jews would be allowed to migrate to Palestine each month. This quota of 18,000 a year continued until the British rule in Palestine ended in 1948. Following the Harrison report, President Truman called for major changes to the treatment of Jews in the DP camps. Jews who were DPs were originally accorded status based on their country of origin and did not have separate status as Jews. General Dwight D. Eisenhower complied with Trumans request and began to implement changes in the camps, making them more humanitarian. Jews became a separate group in the camps so Jews no longer had to live with Allied prisoners who, in some cases, had served as operatives or even guards in the concentration camps. DP camps were established throughout Europe and those in Italy served as congregation points for those attempting to flee to Palestine. Trouble in Eastern Europe in 1946 more than doubled the number of displaced persons. At the beginning of the war, about 150,000 Polish Jews escaped to the Soviet Union. In 1946 these Jews began being repatriated to Poland. There were reasons enough for Jews not to want to remain in Poland but one incident in particular convinced them to emigrate. On July 4, 1946 there was a pogrom against the Jews of Kielce and 41 people were killed and 60 were seriously injured. By the winter of 1946/1947, there were about a quarter of a million DPs in Europe. Truman conceded to loosen immigration laws in the United States and brought thousands of DPs into America. The priority immigrants were orphaned children. Over the course of 1946 to 1950, over 100,000 Jews migrated to the United States. Overwhelmed by international pressures and opinions, Britain placed the matter of Palestine into the hands of the United Nations in February 1947. In the fall of 1947, the General Assembly voted to partition Palestine and create two independent states, one Jewish and the other Arab. Fighting immediately broke out between Jews and Arabs in Palestine but even with the U.N.s decision, Britain still kept firm control of Palestinian immigration as long as they could. Britains complicated process for regulation of displaced Jewish immigration to Palestinian was plagued with problems. Jews were moved to Italy, a trip which they often did on foot. From Italy, ships and crew were rented for the passage across the Mediterranean to Palestine. Some of the ships made it past a British naval blockade of Palestine, but most did not. The passengers of captured ships were forced to disembark in Cyprus, where the British operated DP camps. The British government began sending DPs directly to camps on Cyprus in August 1946. DPs shipped to Cyprus were then able to apply for legal immigration to Palestine. The British Royal Army ran the camps on the island. Armed patrols guarded the perimeters to prevent escape. Fifty-two thousand Jews were interned and 2,200 babies were born on the island of Cyprus between 1946 and 1949. Approximately 80 percent of the internees were between the ages of 13 and 35. Jewish organization was strong in Cyprus and education and job training was internally provided. Leaders on Cyprus often became initial government officials in the new state of Israel. One shipload of refugees heightened concern for DPs throughout the world. The Jewish survivors had formed an organization called Brichah (flight) for the purpose of smuggling immigrants (Aliya Bet, illegal immigration) to Palestine and the organization moved 4,500 refugees from DP camps in Germany to a port near Marseilles, France in July 1947 where they boarded Exodus. The Exodus departed France but was being watched by the British navy. Even before it entered the territorial waters of Palestine, destroyers forced the boat to the port at Haifa. The Jews resisted and the British killed three and wounded more with machine guns and tear gas. The British ultimately forced the passengers to disembark and they were placed on British vessels, not for deportation to Cyprus, as was the usual policy, but to France. The British wanted to pressure the French to take responsibility for the 4,500. The Exodus sat in the French port for a month as the French refused to force the refugees to disemba rk but they did offer asylum to those who wished to voluntarily leave. Not one of them did. In an attempt to force the Jews off the ship, the British announced that the Jews would be taken back to Germany. Still, no one disembarked as they wanted to go to Israel and Israel alone. When the ship arrived in Hamburg, Germany in September 1947, soldiers dragged each passenger off of the ship in front of reporters and camera operators. Truman and the much of the world watched and knew that a Jewish state needed to be established. On May 14, 1948 the British government left Palestine and the State of Israel was proclaimed the same day. The United States was the first country to recognize the new State. Legal immigration began in earnest, even though the Israeli parliament, the Knesset, did not approve the Law of Return, (which allows any Jew to migrate to Israel and become a citizen) until July 1950. Immigration to Israel increased rapidly despite war against hostile Arab neighbors. On May 15, 1948, the first day of Israeli statehood, 1,700 immigrants arrived. There was an average of 13,500 immigrants each month from May through December of 1948, far exceeding the prior legal migration approved by the British of 1,500 per month. Ultimately, the survivors of the Holocaust were able to emigrate to Israel, the United States, or a host of other countries. The State of Israel accepted as many that were willing to come and Israel worked with the arriving DPs to teach them job skills, provide employment, and to help the immigrants help build the wealthy and technologically advanced country that it is today.

International Marketing Plan Part 2 Assignment Example | Topics and Well Written Essays - 500 words

International Marketing Plan Part 2 - Assignment Example The number of skating companies in the last couple of years has increased and it is expected that there will be new entrants in future as well (Bennett and Blythe, 2002). The biggest competitors in the skating industry are Rollerblade, Roces, Solomon and K2. The market share of each company can be represented as follows as given in SGMA (2011) report: Rollerblade has been enjoying the largest market share in the industry for decades. As of 2005, its market share was 70% and now it has been reduced to 45%. The main reason in such a reduction in the share is the increase in the new entrants in the market. Still, the company enjoys the reputation of providing high quality skates and other accessories. The range of products provided by the company is huge and it is expected to increase more in near future. Likewise, the close competitors are Roces, Solomon and K2 as well and all these brands have been there in the market for quite long. Since the Skating International is targeting an entirely new segment so these competitors do not directly pose any threat to it but if these brands target the market that the company is targeting via its products, then it can lose its market share. Therefore, the company will need to create differentiating factors to maintain its competitive position in the market. The pricing strategy that will be followed by Skating International will be competitive pricing. The company will charge the prices in comparison with those charged by the competitors. One of the primary purposes of the pricing strategy is to encourage the customers to buy the goods on impulse, experiment with the product and make repeat purchases. Initially the company will charge the products as follows: In order to promote the brand initially, the customers will be given skate bags as well so that the skates will remain protected and they will be handled with utmost ease and care. The skate bags’ price will range in between $20-$40

Managing organisations Essay Example | Topics and Well Written Essays - 1250 words

Managing organisations - Essay Example Recruitment Managers find Psychology to come in handy when they are recruiting for new job positions in their firms. Managers bearing acute knowledge in psychology are able to tell the different personalities that are needed in the various workplaces and they are able to match different teams with the appropriate team members. This helps the organisation avoid serious recruiting mistakes, thus growing stronger in its workforce (Conrad, 2009). Organisational culture This involves the behaviour of people working in the organisation, how they relate to one another and the meaning that they attach to their roles. Managers need to have knowledge in Psychology to enable them devise plans and strategies that will help in overcoming the challenges within their workforce. They are also able to retain the workforce by understanding their needs and rewards thus retaining them. They are also able to make better and informed decisions when they need to cut costs within the firm. They are able to appease their employees even when the firm is going through some rough times (Conrad, 2009). Development Managers with knowledge in psychology are able to invest in the employees through managerial, leadership, and personal development. This enables the firm to retain the best employees, motivate them and also attract other top performers. This in turn gives the firm competitive advantage with its rival firms (Conrad, 2009). Humanistic Theory of Motivation It is founded on the idea that individuals possess powerful cognitive reasons that influence them into working towards particular goals. Sources of motivations among individuals change as they proceed from basic needs to self-actualisation in Maslow’s hierarchy of needs. A well-paying job can be a great source of motivation for the individuals at the initial stage of the hierarchy of needs. As the individual progresses the motivators change and finding meaning in the job, creativity and independence can be the new powerful motivators. Maslow called this compensation when one is motivated by and gives more importance to competencies rather than meta-pay. Organisation of the work environment is very crucial given the changing needs of workers. The managers need to understand this aspect and utilise psychology to implement the necessary strategies to address this issue (Cherry, 2013). Psychology is important as it helps create self-awareness in the managers. They become aware of their strengths and weaknesses, therefore, having total control of all situations in the firm. They also become aware of their surroundings. They are able to understand the behaviour of their subordinates, workers, customers and their clients, thus having the ability to provide better services and a serene work environment. Having knowledge in psychology helps the managers understand different kinds of employees, therefore, finding them positions or departments where they can work well and foster good relationships with others. 1 . b) Examine the problems that managers may encounter when seeking to apply psychology to their role Wrong interpretation of situations The managers may interpret a certain situation wrongly, which will mislead them into making wrong decisions. Managers may walk into a situation at the workplace or with the clients and due to limited interaction with them; they may make the wrong interpretation. This stems from making unfounded assumptions that may lead to the wrong application of Psychology

Business Law Case Study Example | Topics and Well Written Essays - 500 words - 2

Business Law - Case Study Example To save the marriage couples from such unfortunate happenings, the government thought to have compulsory counselling for the to-be-married interracial individuals. There are many arguments that can be used against the statutes. Firstly, it can be notified that the for the people whose vehicles are registered outside the state of Minnesota, are compelled to purchase and install an expensive device to reduce radioactive emissions to save the birds. This can be treated as injustice to those vehicle owners. If the device can really check pollution, the device should be made mandatory to all vehicles and not just to those registered with a different state. In the second case, the two weeks of counselling for the inter-racial couples prior to marriage can be identified as state imposition. The law of the land preferably should not dictate the matured adult citizens. Marriage is a personal agenda and varies from person to person. The law should not be mingled with the requirements of the pre-marriage counselling sessions. The prime duty of the court of law is to ensure that the justice is ensured to all the parties. It functions with in the broad guideline that the legislature has provided with. Also, the court does not have the weapon to execute the law. For such purpose, it has to depend upon the executive. The court would ensure that the all the legalities are maintained in its best form. Ralph feels that the company of drug free enterprise has breached his trust. For the purpose, Ralph wants to sue the company with $ 79,000. The most appropriate court would be the place where the agreement was signed in between the enterprise and Ralph. It could also be the place upon where Ralph was supposed to oversee the distribution. The basis for the jurisdiction would depend upon the minute details that were penned down in the agreement between Ralph and the company. There may be lot many reasons. Some of them might involve deviation from the agreed price or

U.S. Supreme Court Essay Example | Topics and Well Written Essays - 500 words

U.S. Supreme Court - Essay Example Kagan became Pres. Obamas official nominee to replace retiring Associate Justice John Paul Stevens in 2010. It was easy to see why he would nominate her to the position. In his own words, Pres. Obama described her admirable character traits (Scherer, M., 2010) that led to her nomination as : â€Å"Elena is respected and admired not just for her intellect and record of achievement, but also for her temperament, her openness to a broad array of viewpoints, her habit — to borrow a phrase from Justice [John Paul] Stevens — of understanding before disagreeing, her fair-mindedness and skill as a consensus builder.† Ms. Kagan was nominated during a time of trial for our nation. America was in the grips of the worst recession to ever hit its people, the economy was in shambles and the previous Bush administration had often circumvented the law in order to fulfill its own political agenda. She was in effect, coming into a wounded supreme court that needed to be rehabilitated for hits own good. With her nomination, the president was merely trying to put the best person he could find in to fill the job. By his standards, she fit the bill to a T. There was no political agenda behind it and no lobby group behind her nomination. If there were, she would not have eventually been confirmed. That is not to say though that her nomination was without controversy. there were accusations coming from the GOP, who were actively campaigning against her nomination, that Kagan often defied the constitution by disallowing the military access to students on the Harvard campus during her tenure as Dean at the prestigious university. Columnist Phyllis Schlafly claimed that Kagan had â€Å"defied the Solomon Amendment" -- a statute requiring schools to provide the same access to military recruiters that they provide to other potential employers or lose federal funding†. While Foxs Sean Hannity also reported that she had â€Å"led an effort to "kick