Develop an awareness of self in relation to others Coursework

Develop an awareness of self in relation to others - Coursework Example The defense mechanisms help people in maintaining their self-esteem and self-respect in face of embarrassing, threatening or defeating situations. Hence, defense mechanisms are mental tools used by people from feeling unworthy and inferior. Using defense mechanism once or twice is fine. However, when people start using defense mechanism often, then it harms their reputation and also keeps them from seeing the ‘real’ picture. ‘Rationalization’ and ‘projection’ are among the most commonly used defense mechanisms by people. People use rationalization when the truth about a situation is painful to accept. In such situations, people use rationalization as a defense mechanism and give socially acceptable and reasonable explanation for their behaviour. By doing so, people avoid accepting their own fears, anxieties and negative aspects of personality. After using rationalization repeatedly, it becomes a part of their unconscious behaviour pattern and th ey lose the ability to reflect on the truth or to improve their behaviour. Hence, people around them lose trust and faith in them and consider them as people ‘who always give excuses’ and hence, not dependable. In this way rationalization affects the trust and bonding in personal and professional relationships. ‘Projection’ is another defense mechanism where a person blames another person or situation for his own inadequacies, unfavorable characters and failure. When projection becomes a habit, then the person using it loses the sense of reality and examines people and situations in distorted way. People around him start to realize that this person is never going to improve as he never accepts his fault and weaknesses. They consider him as irresponsible and immature. Hence, they start keeping a distance from him and do not allow him to form close relationship with them. In this way, a person who uses projection as a defense mechanism fails to make and maint ain relationships. His attitude of blaming others repels people from him. Factors Inhibiting Congruent Relating Congruence in relationship is possible when the counsellor and the client are open, authentic and honest with each other in the process of counselling. However, for the formation of a congruent relationship with clients, the counsellor needs to have a ‘whole’ and ‘integrated’ personality. Otherwise, the counsellor is unable to help the client to achieve the ‘integration’ in his personality. Hence, if the counsellor lacks growth and ‘integration’ in his own personality, then it inhibits the formation of congruence between the counsellor and the client while counselling. Second factor that inhibits the congruent relating with clients is the lack of ‘self -awareness’ in the counsellor. When a counsellor is not consciously aware of the weak areas in his personality, then he gets uncomfortable and irritated while attending to those weaknesses in his clients. Hence, being aware of the weaknesses in his own personality is very important for the counsellor. Otherwise, it inhibits congruent relating with the client by creating discomfort and friction in interactions while counselling.

Criminal Theory Case Study: Whitey Bulger

Criminal Theory Case Study: Whitey Bulger Criminal Behavior James Joseph Bulger III (better known as) Whitey Bulgers criminal behavior started early on in life. Whitey ran away to join the circus at ten years old. According to Biography.com, Whitey Bulger was first arrested when he was 14 years old, for stealing, and his criminal record continued to escalate from there. As a youth, he was arrested for larceny, forgery, assault and battery, and armed robbery and served five years in a juvenile reformatory. Upon his release, he joined the Air Force where he served time in military jail for assault before being arrested for going AWOL. Nonetheless, he received an honorable discharge in 1952. (Biography.com) After the military, Bulger returned to Boston and committed multiple bank robberies in multiple states. In 1956 he was sentenced to 25 years in Federal prison for those bank robberies. After his release from prison Bulger immersed himself into Bostons organized crime, and by 1979 he was one of the top figures in Bostons underworld. After work ing with the FBI, he led the FBI on a 16-year manhunt. Whitey Bulger was finally caught by the FBI in 2011. In 2013, Bulger faced a 33-count indictment, including money laundering, extortion, drug dealing, corrupting FBI and other law-enforcement officials and participating in 19 murders. He was also charged with federal racketeering for allegedly running a criminal enterprise from 1972 to 2000. (Biography.com) Bulger was not convicted of everything, after a two-month trial, a jury of eight men and four women deliberated for five days and found Bulger guilty on 31 counts, including federal racketeering, extortion, conspiracy and 11 of the 19 murders. They found he was not guilty of 7 murders and could not reach a verdict on one murder. (Biography.com) Whitey Bulgers Life Whitey Bulgers childhood was rough. James Joseph Bulger Jr. was born on September 3, 1929, in Dorchester, Massachusetts, (Where I was born) as second of the six children, to Roman Catholic Irish parents who immigrated to America. (www.thefamouspeople.com) Whiteys father was a longshoreman that lost his arm in an industrial accident forcing him and his family to move to government housing in South Boston (Where I attended elementary school). When Bulger was ten years old, he attempted to run away and join the circus. When Whitey was 14, he was charged with stealing and forgery and other crimes resulting in being held in a juvenile reformatory for five years. Bulger joined the Air Force and was charged with AWOL ultimately being honorably discharged. Once Bulger returned to Boston, he returned to a life of crime and ultimately rose to the top crime boss in Boston. Bulger reigned over Bostons underworld for nearly 20 years. Oddly enough he was an informant for the FBI against another cr ime family which ultimately help Bulgers enterprises. When indictments against Bulger came down his connections at the FBI tipped him off to the impending arrest allowing Bulger to go on the run from 1996 until he was ultimately arrested in California 2011. Bulger was convicted of most of the charges levied against him, and he is currently incarcerated at Coleman Federal Penitentiary in Sumter County. Bulger was disciplined for sexual activity while in prison in 2016. Theories of Criminal Behavior I believe that the first of three theories that could describe White Bulgers criminal lifestyle would be Albert Cohens Theory on Delinquent Boys. Cohens research and resulting theory were a reaction to the limitations and oversimplifications he saw in Robert Mertons strain theory, according to the University of Portsmouth. Cohen agreed that criminal behavior was in part the result of the strain of being unable to accomplish ones goals, but he disagreed with Mertons hypothesis that crime was individual, gain-based and could occur at any socioeconomic status. In 1955, his book Delinquent Boys, Cohen investigated trends of criminal behavior in lower-class urban areas of the United States, then built on emerging findings about the delinquent subculture. Florida State Universitys College of Criminology and Criminal Justice states that Cohens investigation of gangs revealed that the groups were mostly lower-class males who seemed to be retaliating against a world that had given them empty promises regarding the American Dream. Cohens theory on the delinquent subculture also predicts that the existence of the subculture would likely draw in lower-status persons exposed to it, therefore creating more delinquency among anyone who might believe that their only opportunities for progress existed in the ranks of gangs. (www.reference.com) I believe Whitey Bulger also fit into the Durkheims Deviance theory, à ¢Ã¢â€š ¬Ã‚ ¦his discoveries were so deviant that people had a hard time accepting them. And they still do! Which is why Durkheims views of deviance have been pretty much ignored by sociologists for over 100 years. Durkheim was a firm believer in observation. So he began his study of deviance by observing as many societies as he could. He studied his own, those in neighboring European countries, and even those of the ancient past. What did he notice? They all had deviance! It didnt matter where or when he looked. In every society, there was something that got defined as deviant, and someone who did that deviant thing. (http://www.nonjudgmentday.org) I also believe that Whitey Bulger would fit into the Social Disorganization Theory. The theory of social disorganization states a persons physical and social environments are primarily responsible for the behavioral choices that a person makes. At the core of social disorganization theory, is that location matters when it comes to predicting illegal activity. Shaw and McKay noted that neighborhoods with the highest crime rates have at least three common problems, physical dilapidation, poverty, and a higher level of ethnic and culture mixing. Shaw and McKay claimed that delinquency was not caused at the individual level, but is a normal response by normal individuals to abnormal conditions. Social disorganization theory is widely used as an important predictor of youth violence and crime. (Mark Bond, Ed.D) There is little doubt that South Boston or Boston, in general, could fit this theory just as well as Chicago. Theoretical Application to Whitey Bulgers Life History Growing up in South Boston with a father that was a longshoreman and that was ultimately disabled allowed Whitey to do as he pleased and he did just that fitting the Albert Cohens Theory on Delinquent Boys. As a young man, Whitey was arrested for assault and battery, armed robbery, larceny, and assault. Those charges resulted in Whitey being sentenced to five years in a juvenile reformatory. After his release from the reformatory, Whitey joined the Air Force and subsequently went AWOL. Despite this, he was granted an honorable discharge. I included the military factor in this theory because as we know, men dont fully mature until at least 25 years old. Due to Whiteys now developed deviant behavior as a youth, I believe that he fits into Durkheims Deviance theory. As we all know there is deviance everywhere and I think that during Whitey Bulgers criminal rise he just took advantage of the deviance and rose to the top of Bostons underworld. Some say his power made him like a Robin Hood for the city, For years, James Whitey Bulger was viewed as a Robin Hood-like figure on the streets of South Boston, valued by his neighbors who saw him as a tough guy who kept drug dealers out of their neighborhood. That image was shattered when authorities began digging up bodies. (www.boston.cbslocal.com) Finally, Whitey Bulgers criminal activities fit in my opinion into the Social Disorganization Theory. Boston, like Chicago, was ripe for the picking when it comes to poor neighborhoods, high crime rates, socially disadvantaged people. Whitey dominated a city that had many poor areas that were very ethnically diverse just like Chicago. The mixture of these three theories, I feel, created Whitey Bulger. In my opinion, many of these theories are interchangeable and could fit almost any powerful crime figure. The mixture of these three theories, I feel, created Whitey Bulger. In my opinion, many of these theories are interchangeable and could fit almost any powerful crime figure. References http://www.biography.com/people/whitey-bulger328770#early-life http://www.thefamouspeople.com/profiles/whitey-bulger-5588.php#5aP3OvO2zXd6OAzH.99 https://www.reference.com/world-view/albert-cohen-s-delinquent-subculture-theory-56a567cc29ecb061 http://www.nonjudgmentday.org/judgment-card-galleryblog/-durkheims-deviant-view-of-deviance https://www.linkedin.com/pulse/criminology-social-disorganization-theory-explained-mark-bond http://boston.cbslocal.com/2011/06/23/whitey-bulger-described-as-robin-hood-diabolical-killer/

Creation, Flood and the Hero in Epic of Gilgamesh and Book of Genesis o

Creation, Flood and the Hero in Gilgamesh and the Bible    The Epic of Gilgamesh compares to the Bible in many different ways. The epic has a different perspective than the Bible does. This paper is a contrast and comparison between the two books. The three main points of this paper will be the Creation, Flood and the Hero.    The way these two books start out is creation. This is the first similarity that we can state. God created man out of the earth, â€Å"In the beginning God created the Heaven and the Earth†. In the epic, Auru, the goddess o... ...s that are hard to decipher, but most was understandable. The Epic of Gilgamesh was hard to get started on, but was easily finished. Bibliography Bibliography The Holy Bible. KJV. Thomas Nelson Publishers, Nashville. 1984. The Epic of Gilgamesh. Penguin Books, London. 1972.

The development of aggression and violence in the American youth

In the introductory portion, the writer introduces the relevance of the study to the present reality by briefly indicating the focal areas that are covered in the paper. Basically, the thesis statement or argument is presented in prà ©cis to complete this part.Problem statements and milieuThe paper seeks to explain the development of an individual’s aggression and or violence in the context of society, family and internal mental or thinking patterns. Whether the results are a combination of the factors will be posed as inquiry in this section with a corresponding hypothesis.Review of Related StudiesThis portion explains the peer-reviewed works of psychologists and sociologists and others in the profession with the intention of analyzing the important and strategic breakthroughs in science on the issue and which the present paper seeks to accentuate considering the need of the hour (Works of Bjork, Furst, Sidney, Wacker, David,   Tremblay et al, Harris, Mary; Hogh et al, Hob bs, Brackney et al,II. Results and findings   A. Definition of termsUsing DSM and other credible sources for the operational definition of the foremost significant terminologies employed in the paper. (Works from Aggression from Encyclopedia of Science, Technology, and Ethics, DSM definition)   B. Theoretical Framework  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   ~ Factors influencing Aggression  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Explores different perspectives in the understanding of AggressionII. Discussion of Results and FindingsIt is assumed that the following are major contributing factors that influence aggression and/or violence. Discussion section of the paper further establishes the researcher’s findings based on the problem statement and hypothesis made. The following are salient points that are developed by the researcher.â€Å"What can make an individual youth commit violent acts?†Ã‚  ~ Pornography and violence in the internet and media  ~ Depression among th e teens  ~ Domestic Violence (DV) and Aggressionâ€Å"What should or can be done to reduce the incidence or curtail youth violence or aggression?†Since the issue is a prevailing and existing individual, familial and societal problem, and many studies are already conducted to apply effective interventions, this section of the paper seeks to enumerate and describe the leading and effective treatments and/or interventions on the matter. It also attempts to give a balanced view on the plus and minuses or pros and cons of the prescribed interventions.III. Summary of findingsProvides a brief summary of the study’s findings.IV. Conclusion and RecommendationThe writer addresses the reader to his/her own reflections regarding the study he/she made on the problem. However, considering the limitation of logistics and other factors, she/he prescribes or outlines his/her own recommendation/s regarding the problem and it is to be undertaken in future studies.IV. ReferenceExact doc uments used or employed throughout the study are herein listed in APA format.

Ray Rice’s Amazing Story

Ray has learned more and more about his father, Calvin Reed. Janet has a color snapshot, which serves as the only means by which Ray knows what his father looked like.There are stories In which he has learned that he was a respectable man 1 OF3 wltn a respectaDle D I nese tnlngs are comTortlng to Ray Decause tne reason ne never got to know his father is extremely uncomfortable. In the summer of 1988, a car rolled past Reed as he was walking home from work. Shots were fired and Reed died there on the sidewalk. Three years later, when the gunman was convicted and sent to prison, it was revealed that Reed wasnt the target. He was Just in the wrong place at the wrong time. â€Å"Sometimes you wonder what it would be like to have your real dad,† Ray said.Just for a walk in the park or Just recapping our lives. That's the part that makes me think. â€Å"00A few years later, Rice's aunt died of brain cancer at 37 years old. Her son, Shaun Rice-Nichols, moved up three floors in their apartment complex to live with Janet and Ray. 00Treated like a son by Janet, Shaun was a father fgure to Ray, who was 10 years younger. They did everything together, from Ray's favorite (playing sports), to Shaun's favorite (rapping in front of the mirror). Shaun was an up-and- coming rap artist known as S. U. P. E. , which stood for Spiritually Uplifting People Everywhere.He sang about inspiring people and guiding them in the right direction despite their tough surroundings. Shaun would always tell Ray to go for his dreams, to pursue them with extreme passion. After all, Shaun was proof that even a kid from the projects could make it. 00At about 21 years old, Shaun signed his first record deal and moved with his fianc ©e and two young daughters to California to pursue his music career. 00†³He was the one in the family where if he wanted something he went after it and he got it,† Ray said. â€Å"He was the first one the family was really proud of. 0 0But Shaun's dream s ended on a road in California on March 21, 1998.That's when a driver, swerving to avoid another car during the early hours of St. Patrick's Day, plowed into Shaun's compact car. His fianc ©e died on the scene, and Shaun passed away four days later. â€Å"That was rough, really rough. But I believe today he's still here,† Ray said. â€Å"My family is different. When he died, in a sense some of my family died. Everybody Just changed for a little bit. â€Å"00Just 1 1 years old at the time, Ray didn't change. He Just became even more obsessive about continuing the mission that Shaun began for his family, he says. 00Ray still carries Shaun close to him at all times.He has Shaun's name, S. U. P. E. , tattooed on his right biceps and he carries his memories of him onto the football field. â€Å"I'm in his place now,† Ray said. â€Å"l made it to the NFL, but that's not enough. It's about my family and I'm trying to gel everyone believe in my dream and I chase my dream like S. U. P. E. chased his dream. He didn't get a chance to finish his dream. I want to finish my dream. One day after football practice during his 1 lth grade season, Ray stared out of the partment window as his mother ran him a hot bath, pouring in Epsom salt to ease his sore muscles. Ma, I'm going to the league,† Ray said. â€Å"I've got to make it to the league. I'll be glad when I can tell you, You don't have to work no more. ‘† Janet lived her whole life in The Hollow. She sometimes worked two Jobs trying to make ends meet while doing her best to spoil Rice and his three younger siblings. Besides the time she spends doting on her own kids, she has dedicated her career to teaching special needs children, a calling that shows her heart is bigger than the 4-foot-11 body it lives in. Ray decided early on in life that his mother needed help.And since then, a large part of his mission has been to use his passion of football to give her a different life. Ray was a two-sport star at New Rochelle High School. He played point guara Tor nls DasKetDall team, lea01ng tnem to tne state Tlnals In 2 football field, he scored 31 touchdowns as a senior and was named to the Madison Square Garden's All-Heisman team. Ray then became a college football legend in the New York-New Jersey area, rejuvenating Rutgers' football program and leading the team to a miraculous upset win over previously-undefeated Louisville in 2007.Right before being interviewed by ESPN on national television that night, with the cameras rolling, Rice stopped and called out, â€Å"Where's my mother? † He was worried about her being trampled by the students streaming onto the field. Despite her son being drafted, nearly leading the NFL in total yardage last year and being named to the Pro Bowl in Just his second season, those words on ESPN serve as Janet's favorite football memory for the sheer fact that it shows how much her son cares about her. Ray and Janet still talk on th e phone every single morning at around 6 a. m. while Janet is cooking breakfast for her children.They talk about everything, from football to girls. â€Å"I'm more than Just his mother,† Janet said. â€Å"I'm his best friend. We laugh, we giggle. We have so much fun together. † In large part, Ray's success has already allowed him to take care of his family. His mother drives a new Lexus and now lives in a safe, waterfront property Just about 15 minutes from their old apartment. But Janet still goes to her Job at school, still caring for special needs children. â€Å"I've got one more phase left,† Ray said. â€Å"It will be her choice whether she wants to work. I want her to fulfill what she wasn't able to Just raising us. I want her to enjoy herself.

The Morality of Science essays

The Morality of Science essays There are two parallel stories in Mary Shelleys Frankenstein, one of attempting to discover the secret of life and the other of forcing nature to open her secrets to man (Neal). This novel can be looked by combining those two stories into a theme of the scientist who seeks to play God and what happens to him in his quest to create life from death. When looking at the book in this regard, the reader discovers the dangers inherent in defying the natural order, (Neal) and the potential consequences of scientific discovery. Victor Frankenstein, fascinated with scientific exploration in the physical world, embarked upon an experiment that forever changed his life and that of his family and friends. During his studies away from home, Victor foolishly decides that he will play God. I will pioneer anew way, explore unknown powers, and unfold to the world the deepest mysteries of creation (Shelly p. 47). What lies behind Frankensteins scientific projects is obviously an attempt to gain power (Damyanov). Victor devotes himself to his task of creating life from death for a period of two years without once considering the implications of the result of his experiment. Thoughtless Victor built in no safety controls, no device to assure that only good actions would be performed (Neal). Shelley warns us of the dangerous division between the power-seeking practices of science and the concerns of humanists with moral responsibility, emotional communion, and spiritual values (Damyanov). Victor invested so much selfish care and time into his creation and never thought of the implications of his success. As if almost seeing into the future, Shelly gives us a warning to consider the final effects of scientific exploration and experiment (Neal). Neglecting all moral implications of his creation, Victor completes his work. Victo...

A Random Walk Down Wall Street Book Analysis

A Random Walk Down Wall Street Book Analysis A Random Walk Down Wall Street Book Analysis Essay A Random Walk Down Wall Street Book Analysis Essay The book A Random Walk Down Wall Street offers an insight into stock investment with the author aiming at providing an appropriate advice for investors. The book has had ten editions since it was first published in 1973 by Burton G. Malkiel. The author’s main idea is to portray markets as partly efficient and to prove that investors can make appropriate individual investment decisions without the indulgence of financial experts. A Random Walk Down Wall Street Literary Analysis According to the author, the basic secret of investing is committing to stock investment in the long term or diversifying investments in case of short-term investments. The author justifies his assertions by using historical testimonies and expounding on them by using personal experiences. The book has four sections with respective chapters that elaborate on various concepts of investing. The book report will provide the author’s main idea and the insights gained. An analysis will show that Malkiel’s book offers an avenue that allows investors to make sound investment decisions by balancing their investment expectations with options available to them. Part One: Stocks and their Value This part entails the first four chapters that introduce the reader to the world of investments. The part mainly discusses concepts of asset valuation by using theoretical foundations. The author mainly uses the firm-foundation theory and the castle-in-the-air theory to expound on asset valuation. The first chapter is â€Å"Firm Foundations and Castles in the Air† and it offers an introduction to investments. It explains that the firm foundation theory argues that an investor should make investments on the basis of the actual value of the proposed investment. The author uses a real-life example that a person wishing to invest in Coke should base the investment decision on the product’s parent company, the Coca-Cola Corporation. The castle-in-the-air theory asserts that an investor should make investments as a response to actions of the masses. For this reason, the theory argues that an investor usually makes more returns by following the majority who invests based on cu rrent trends or based on the foundations of a firm. The chapter concludes that both theories are right in different investment situations. The explanations of the author of the two theories offer a background for the author to critique them in the following chapters. The second chapter â€Å"The Madness of Crowds† explains historical financial occurrences that prove that actions of the masses have significant investment repercussions. Examples of such occurrences include the Tulip-Bulb Craze, the South Sea Bubble, and the tulipomania. In the three instances, the market expanded in a speedy way and led to the overvaluation of assets. After some time, values of the assets returned to their normal valuation after one or a couple of years. A graphical analysis of the three instances showed that by the end of the overvaluation hype the values of the assets returned to the same values as before the hype. The chapter portrays that investors who just follow the masses blindly tend to lose heavily in the market. The inability of investors to resist the urge of the masses makes them vulnerable to adversities of the market. Chapter three explains the stock valuation between the 1960s and the 1990s. The chapter offers a continuation of the craze that the market experiences. The author uses various examples in the stock market to expound on the modern version of the extremity of markets. He expounds on the multiples of price earnings that formed the base of stock trading at the time. The author also expounds on the roles of underwriters in the issuance of new securities, especially their roles in misleading investors. The misleading happened despite investors having access to the guidelines offered by the United States Securities and Exchange Commission. For instance, the stocks in the 1980s were overvalued. The scenario confirms the assertion of the author in the second chapter that such situations continue to recur. Another example offered by the author is the obsession of investors with blue chip companies in the 1970s. By 1980, the values of the stocks had returned to their normal prices. The cases sh ow how firms often manipulate information to increase their value so that they can attract investors. The author concludes that manipulation is inevitable because even though organizations such as the SEC provide the guidelines, they can do nothing to prevent investors from parting with their money. By offering real examples and enlightening historical occurrences, the author remains authoritative and ensures that the reader grasps the real impacts of the masses in making investment decisions. Chapter four explains the internet bubble that sufficed in the late 1990s. The author argues that the public’s obsession with the internet was fuelled by other bubbles similar to the historical ones covered in the previous chapters. For instance, the author cited the IPO mania that prompted the bubble in the 1960s. Similar instances could be seen in the internet era. The main message of the author is that people tend not to learn from past experiences. After the rise of the internet, small investors gained a platform for investments and firms gained a platform for competing with larger firms. Moreover, people became more interconnected. Due to the excitement of the availability of a new platform of trading, people engaged in stock trading by the use of brokerage firms. As a result of overcrowding, people lost money due to the eventual overvaluation and the return to normal prices. In fact, only brokers benefited. This part highlights significant historical influences of the mass mentality on investments. The main point of the author is that markets remain perfect. The assertion means that even if an imperfection comes up, the market will find a way to go back to its normal status. One of the pieces of advice one gets from the part is that investors need to combine both their intellect and curiosity to succeed in investments. The influence of crown activities was also enlightening. The provision of historical examples that led to the overvaluation of assets enables the reader to grasp the author’s main idea. The examples show that an emotional approach without much consideration towards stock investments can be detrimental for investors in the long run. One of the interesting insights from the examples that the author offers is that investors never seemed to learn. All through the 1960s to the late 1990s, economic bubbles would always recur. There would be some hype created that would i n turn entice people to spend more money on stocks. The hype occurred even after authorities such as the SEC warned investors. The above cases remind me of the 2007/2008 economic depression. The scenario was caused by a similar bubble, only that this time it was a housing bubble. The decade ending in 2006 saw prices of houses drastically rise, thus prompting homeowners to refinance their homes due to the availability of adjustable-rate mortgages extended by lenders. Due to the availability of mortgages, people could access loans at interest rates lower than market rates. However, after 2006 people could not refinance their loans because house prices started falling and interest rates rose at the same time. In effect, financial institutions could not recover their loans extended. The situation kick-started the depression that had adverse effects on investors. The situation in 2007/2008 shows that the market has not yet learned about adverse impacts of following the multitude blindly. Part Two: How the Pros Play the Biggest Game in Town This part makes up the next three chapters. The chapters mainly deal with fundamental and technical analysis techniques. Chapter five tries to expound on the extent of the efficiency of the market. It focuses on the elaboration of the technical and fundamental analysis of financial markets. Technical analysis entails studying trends in market prices of assets and then applying historical trends to predict their future prices. The method uses tools such as trend lines and charts. Fundamental analysis entails analysis of the condition of a business by examining its financial records, the market in which the business operates, and the competition. The chapter does not go into much detail about the theories with the next three chapters serving this purpose. The sixth chapter expounds on the technical analysis concept. The author asserts that technical analysis concentrates on identifying correlations. For this reason, the author seems to discredit the technique by arguing that testing the data of stock prices over time does not necessarily lead to the correct prediction of the stock prices. The author cites that the above aspect of the technique makes it spurious. He even uses a humorous example of finding a correlation in the average hemline length in fashion. He uses the example to explain that looking solely at the charts robs off one’s opportunity to see the broader picture, meaning that there would be a high probability of poor judgment. The author also touches on the random walk theory and states that the theory employs random measures to process random data. He goes on to compare the theory with a humorous example of the use of coin flips to determine future prices of stocks. The author uses more humorous examples to disre gard the theory and the technical analysis because of the theory limitation. Chapter seven concentrates on the fundamental analysis concept. Malkiel seems to support the fundamental analysis. The support, as he argues, arises because the concept bases itself on logical judgment when admitting data for consideration. Another reason the author prefers the fundamental analysis is that the technical analysis only focuses on the stock price, while the fundamental analysis focuses on the worth of the stock. Despite the support for the theory, the author finds it weak as well. The author provides situations where fundamental analysis can have flaws. The examples include random events such as the 9/11 attacks, the consideration of flawed data from firms, and poor analysis. The author also asserts that financial experts are no better than investors. He states that they only have an edge because they can access more information from companies. The author’s information on stock valuation is very insightful. Although I had some knowledge of the two techniques of stock valuation, I had not deeply analyzed them to an extent of identifying their weaknesses. However, the author’s argument convinced me of the flaws of the systems. I enjoyed humorous examples offered because it was a light way of learning about the techniques. The part of the book also offers a lot of lessons when it comes to stock trading. The first lesson is that one should purchase stocks if their expected growth of earnings is above the market average. Moreover, prospected growth should entail a period of more than five years. The second lesson is that it is too risky to purchase multiple stocks whose prospected future growth has been discounted. The last and the most significant lesson is that an investor should consider whether an asset possesses the likelihood of attracting masses to invest in them. The last lesson means that logic is the key when considering a stock purchase. Another interesting conclusion from the understanding is that I have come to question the roles of financial advisors in aiding investors making investment decisions. The author cites that the only difference between them and investors is that they have more information. Prior to reading the book, I viewed experts as a haven and the best avenue for investors to make right investment decisions. After reading this part of the book, I realized that experts might not be significantly different from investors. I find great sense in the claim because some of the historical bubbles came up since investors had more trust in experts than in the authorities. However, despite gaining the knowledge, I partly disagree with the author’s claim because the fa ct that experts have needed information means that they are in a better position to make sound decisions. Part 3: The New Investment Technology This part entails the next three chapters of the book. The section concentrates on the modern portfolio theory that entails combining assets with different risk levels to create a positive returns diversified portfolio. Harry Markowitz came up with the theory in the 1950s, making him win the 1990 Nobel Prize. Chapter eight introduces the modern portfolio theory by asserting that it is essential for investors to diverse their investments and at the same time minimize their risks to obtain positive returns. According to the author, the risk of an asset is a significant determinant of the nature of returns. It is worth noting that the standard deviation of the stock is usually the measure of risks. The author cites that risks are inevitable irrespective of the nature of diversification. The argument of the author portrays that he partly agrees with the theory. Chapter nine expounds on the theory by explaining ideas highlighted in chapter eight. The outstanding addition to the previous chapter’s ideas is introduction of the beta factor. The author introduces the factor while explaining the Capital Asset Pricing Model (CAPM). On the basis of the model, the author argues that investors should avoid diversifiable risks because they do not have premiums. The author also argues that an investor should attain more returns by investing in high-risk assets. However, the risk should be systematic. The premium aspect leads to the introduction of the beta factor. The author explains that the beta factor explains how a stock behaves in the stock market. Specifically, it measures volatility of an asset as compared to the whole market. On the one hand, theoretical application indicates that the price of a stock with a higher beta value will rise at a higher rate than other stocks in case of a bull period. On the other hand, its price will decrease at a higher rate in case of a bear market. However, after introducing the beta concept, the author takes an unprecedented stand by claiming that beta is not a sufficient measure of the relationship between the risk and returns. Chapter ten introduces the concept of behavioral finance. The concept entails application of human cognitive and emotional concepts in making investment decisions. The author argues that behavioral traits such as being overconfident and overreacting often have an influence on investors’ decisions. After explaining the concept, the author concludes that most choices based on personal biases do not reap intended rewards in the long run. Malkiel argues that the common sense aspect of personal biases has a chance of providing a logical judgment on investments that may prove fruitful. Some of the common sense ideas include inner motivation of investors to resist investing in pricey assets in the long run and the desire to avoid overtrading. Another possible aspect of common sense is that an investor should only get rid of stocks that portray a trend of losing value. Chapter eleven entails the author providing a summary of his opinions given in previous chapters. Some of the assertions include that the market is fairly efficient and in most instances corrects discrepancies when they occur. The main attraction point is the author’s use of Benjamin Graham’s argument that investors should always invest in the long-term value stocks. The author does not seem to endorse the Graham’s argument and he goes to the extent of justifying his position. He asserts that in the long run the trends of growth and value stocks do not run parallel to market trends. However, he partly endorses the Graham’s argument by stating that value stocks often tend to perform better during extremities such as bubble and economic depression. After reading the part, I gained more information on the importance of beta. However, after the author providing a lot of information about its importance in determining the risk of an investment, it was surprising for the author to disagree with the beta factor. The author argues that particular differences in the stocks make beta more ineffective. Despite the surprise, I appreciated his insight because it provided a platform for me to read more about the relationship between beta and risk and returns. On the concept of behavioral finance, I have come across real applications of the author’s argument that personal biases affect individual investment decisions. The inner thought that there is an opportunity to make money can urge an individual to make rash decisions. Moreover, the thought of a possible loss can influence similar decisions. The significance of personal biases in investing has led to the creation of various notions in the modern investment world. Some investors have the tendency to disregard the efficient market hypothesis and endorse unproven beliefs. An example is the January effect when people tended to think that stocks perform well in January. Despite their unproven status, beliefs may make an investor invest heavily during the month. In effect, such an investor may end up experiencing losses. Part Four: A Practical Guide for Random Walkers and Other Investors This part aims at giving the reader an insight into the practical side of investing. The part also offers advice to investors by affording them strategies that they can use to choose their investment portfolio. Chapter twelve offers investors advice on how to start an investment venture. The author encourages stock investors to ensure that they have emergency funds available in case their investment decisions lead to losses. Moreover, the author argues that investors should consider investing in â€Å"insurance† investments such as bonds and real estate investments. He argues that ordinary shares and real estate investments provide a viable option for investment. He concludes with the assertion that prior research is vital for investors in coming up with the best portfolio. Chapter thirteen mainly deals with the author’s opinion on the better choice between stocks and bonds. The author argues that an investor should not entirely rely on the past performance of a stock to predict its future performance. However, he states that the past performance partially influences its future value. The author believes that investing in stock in the long run offers more returns than in bonds due to the elimination of risks. Moreover, he asserts that investing in stocks in the long run may provide the needed safety to fight inflation. However, Malkiel insists that the period cannot be shorter than a decade. He states that a shorter period than a decade is too random and investors do not have a choice but to invest in risky stocks. The assertion means that investors who intend to venture into the short-term investments have to choose between risks and adopt the one that they feel comfortable to carry. Chapter fourteen entails the author insisting that investors willing to commit their resources for more than a decade should commit themselves to stocks. He also insists that it would be better for short-term investors to concentrate on a diversified portfolio that include bonds. The author also advises short-term investors to consider retaining some of their resources as cash to cover any case of emergency. The chapter offers guidance on how investors can approach the market. Despite offering the above options, Malkiel encourages investors to venture into long-term investments. He advises investors to consider venturing into long-term stocks as a way of saving a retirement fund. Chapter fifteen is the last one in the section and the entire book. Apart from providing a summary of the book, it goes into the specifics of investing. The author argues that an investor does not have to perform an extremely detailed analysis to make an investment analysis. Instead, the author encourages investors to venture into an index fund. He encourages investors intending to purchase individual stocks to venture for the long term instead of trading them. Moreover, he asserts that investors should concentrate on stocks that have a record of good performance. Concerning managed funds, the author has reservations about them. He asserts that they may not be an advisable option because they may have misleading information. The also advises investors to purchase stocks that create positive stories about their potential to improve their value. After reading the last part of the book, I came to get the picture of intentions of the author. The first intention is to prove that the market efficiency hypothesis offers a realistic guidance in the stock market. The second aim was to reconcile market efficiency and perceptions of the market towards economic bubbles. The last aim of the author was to identify various ways of analyzing the stock market, highlight their weaknesses, and apply lessons from their weaknesses in offering investment advice to investors. The fourth part culminates his aims by combining strengths of different investments theories and techniques and avoiding their weaknesses to come up with a hybrid investment decision-making guideline. In conclusion, investors ought to read the Malkiel’s text. The book is organized in well-thought sections that cover aspects that entail financing progressively. Reading all the parts enriches a reader with information necessary in making appropriate investment decisions. The author came up with investment theories and techniques and highlighted their roles in investments. He aimed at offering the best financial advice. It is undeniable that the author believes in a partly efficient market and he justifies it by giving out real-life historical examples. The book has a lot of lessons for all investors. The main lesson is that an investor should have the courage to make investment decisions instead of relying solely on financial experts. Moreover, investors should apply logic in the decision-making. With the author analyzing crucial investment theories and concepts and then offering their critique, his aim is to communicate that none of them is efficient. For this reason, a hybrid way of the approach that entails picking strengths of the theories and techniques would be the preferable way to approach investments. Personally, I have learned that caution is the key to approaching investments. Moreover, I have learned that over-ambition or moving along with the crowds can be detrimental in some instances. I have also learned that having long-term investments is a preferable way of saving in the long run. The book also teaches that if an investor chooses to invest for a short-term period of fewer than ten years risks are inevitable. For this reason, diversification is the key. Due to the above lessons, investors, whether they believe in the efficiency or the market or not, need to read the book to expand their investment knowledge.