Advance Business Communication

Question: Compose report on job of subsidiaries in the Enron and how the organization utilized subordinates in their exchange which has brought about the breakdown of the Enron. Answer: Conversation This area of the report features the job of subordinates in the Enron and how the organization utilized subsidiaries in their exchange which has brought about the breakdown of the Enron. Subordinates assumed an essential job in the working of the business, without the utilization of subsidiaries it would have intense for the organization to accomplish their objectives. They utilized subordinates in blowing up the benefit and concealing the obligation. Also, different arrangements identified with subordinates, with different gatherings instead of the well known SPE's assumed a significant job in the Enron breakdown. The organization utilized subordinates in various manners: Utilizing subsidiaries to conceal misfortunes Right off the bat, the organization utilizes subsidiaries to cover their loss of a huge number of dollars, which they put resources into various firms that are innovation situated. One case of such firm is Rhythm Net Connection, which is a beginning up media transmission organization. Enron put almost 10 million dollars in the Rhythm Net Connection, and the organization purchased the offers in Rhythm net association in under 2 US dollars for each offer. The organization utilized the subordinates to shroud their acquired misfortune, which came about because of interest in the firm that is innovatively arranged (www.strongwindpress.com 2016). Utilizing subordinates to shroud obligation Besides, the organization utilizes the subsidiaries along with SPEs to cover their obligation sum, which they have acquired to put resources into new business. It is obvious that some extremely intricate and unclear bookkeeping rules permitted the organization to shroud their advantages and liabilities (www.strongwindpress.com 2016). Other utilization of subordinates The regular story of Enron and the SPEs, where the subordinates were the answer for the SPE, however in the Enron breakdown the SPEs were not so significant. It was the cockeyed sheet exchanges and subsidiaries that are basic, various issues identified with these understandings ought to be featured to decipher the breakdown of the Enron (www.strongwindpress.com 2016). End It is the obligation of the CEO to deal with the whole capacity of the organization so they can expand their productivity. The approach of the organization ought to be straightforward and clear. Be that as it may, on account of Enron, they utilized the subsidiaries to shroud their misfortune and obligation. The bookkeeping strategy of the organization ought not focus on concealing the misfortune and obligation, however they should attempt to adapt up to these misfortunes and obligations. Or maybe the organization should make its exchange and records more clear and all around characterized. Reference Enron and World Finance.

The Illiad Essays - Trojans, Mythological Kings, Ajax, Suicide

The Illiad The Illiad is a story that manages a little piece of the Trojan War. The reason for this war is when Paris, the ruler of Troy, cruised to Sparta, lured and kidnapped Helen and came back to Troy. When Menelaos found that his better half was gone, he assembled various Greek officers to go with him, vanquish Troy, and recover his significant other. In any case, the Illiad just covers a couple of months during the tenth year of the war. In this time, numerous significant occasions occurred that could have modified the result of this memorable occasion? Two lovely ladies whom were foes of the Achaians are caught during one of the numerous assaults the military had on Troy. One of the ladies, named Chryseis is the prize for Ahomemnon (the lord and officer in ?head of the Achaians). However, Chryseis' dad, Chryses needs his girl back. Chryses whom was the minister God of Apollo, is wanting to go to the Achaian camp and guarantee his girl. Shockingly, this arrangement didn't work out. What's more, along these lines, Chryses implores Apollo for help. Apollo did in reality help the elderly person by spreading a lethal plague through the Achaian armed force, executing several them. Following quite a while of this, the Achaian's most regarded trooper, Achilles assembles a conference to decide the reason for the plague. A diviner of the Achaians verifies that King Agamemnon's pomposity caused the plague by not restoring the lady whom was caught to be his war prize. Subsequent to discovering this out, the lady is returned however Agamemnon t akes Briseis whom was the prize caught for Achilles. Achilles is furious and freely offended so in this way he won't battle for the Achaians and withdrawals his soldiers. He at that point solicitations to his mom Thetis (an ocean sprite) to impact Zeus to enable the Trojans to vanquish the Achaians. The pioneer of the Gods guarantees Thetis that he will help. Zeus sends a fantasy to Agomemnon that has him persuaded he will vanquish the Trojans in fight the following day. With the request from Agomemnon, the military sets itself up for assault. The Trojans and Achaians draw towards one another and Paris moves one of the Achaians to a one on one battle. The challenger of this is Menelaos. The victor will win Helen and the two sides will concur on a bargain of harmony. During the duel, Menelaos wounds Paris and starts hauling him to the Achaian's region when out of nowhere, Aphrodite shows up and safeguards him. Agamemnon declares to his military that they have won and requests that Helen is offered back to them. Goddesses Hera and Athena need a total annihilation of Troy and they inquire as to whether no détente were made. Zeus, thus surrenders and awards them their desire. Accordingly, the battling before long continues. As an approach to begin the war once again, Athena scans for Pandaros, a Trojan chief and instructs him to execute Menelaos. Being the sort of individual Pandaros is, he finishes her recommendation. Be that as it may, rather than slaughtering Menelaos, he just injuries him. The Achaians are stunned that the Trojans would do this being the ceasefire is still all together. While Menelaos is being dealt with, other Trojan warriors' get into fight request. By and by, Agamemnon arranges his Achaian troops to plan to battle and this starts the war (once more). The fight proceeds with much savagery and numerous men are slaughtered. When Diomedes is injured by Pandoros, he goes to Athena for help. Athena gives the Achaian fighter fearlessness, which encourages him to drive the Trojans back and murder Pondoros. Diomedes wounds Aeneas however doesn't murder the Trojan aristocrat since his mom Aphrodite salvages him. Ares, the divine force of war gets included on the Trojan's side by aiding Heckor (sovereign of the Trojans) order his powers. From the start this arrangement works however then the Achaians get quality from Hera and Athena. The Achaians are getting more grounded by driving the Trojans back. Be that as it may, the Trojans are debilitating in this way causing Hektor to come back to Troy. He tells the sovereign and the other imperial ladies to cause a contribution of Athena in the sanctuary in would like to get her to dial her anger down of the Trojans.

Marketing Metrics for UK-based SME Essay Example | Topics and Well Written Essays - 2250 words

Advertising Metrics for UK-based SME - Essay Example As the article pronounces The measurement can assess showcasing viability at a vital level. It includes evaluation on the key systems that an organization has embraced and estimating singular exhibitions in accomplishing promoting destinations. A model is whether the organization has received viable value methodology and powerful conveyance channels. This paper proclaims that the metric estimation surveys and assesses the degrees of customer’s recognitions on the merchandise and results of the organization. This is dictated by the nature of the administration that an organization offers to its customers and clients. Brand mindfulness will demonstrate how successful the promoting program in connecting the bigger mass crowd over the long haul. This measurement gives the predominance and the piece of the overall industry that an organization holds. This measure is indispensable in accomplishing the advertising target objectives consequently its evaluation will empower the organization to know whether the applied methodology can convey the goal. Evoked arrangement of model involves a pool of choices that customer has when settling on choices otherwise called thought set. With the information on accessible enormous number of items and brands shoppers thinks about just a couple to secure at some random time. It is significant fo r any showcasing correspondence battle to target decide the items and brands inside evoked set before it is done. Customers remember brands for an evoked model through acknowledgment in the advertising condition consequently promoting interchanges can decide the evoked sets through brand mindfulness battles. Also is reviewing of an item which is memory put together which depend with respect to consumer’s capacity to review brands promoting correspondence messages. The two can be summed up as upgrade based ascribed by brand acknowledgment commonality and in memory-based which is credited by brand review, all driving into consideration in an evoked set model of a shopper where all are key significant perspectives in promoting and correspondence crusades Brand nature and acknowledgment Marketing correspondence battles primarily includes brand mindfulness and acknowledgment to impact and initiate buyers to buy the brand. This suggests promoting correspondence crusade may impact a buyer in thinking about a brand in the evoked set. This relies upon the showcasing correspondence encoded data consequently coming about into a buyer separating on brand over the other. Brand review This is significant in considering an item in an evoked model where a showcasing correspondence battle passes on a special message which encodes in purchasers mind. This is recalled during the thought of brands to remember for an evoked model.

Attitude Toward Power Essay

Both Ulysses and Macbeth had the option to pick up intensity of sovereignty, however the manner in which they picked up the forces are extraordinary. In this paper I am going to think about how they respect power, both diversely and comparably. I plan to utilize Heinemann, (1994), variant of Macbeth by Shakespeare and the class present of Ulysses. The primary focal point of Macbeth will be from Act1 Scene 7, lines 1-28 and Act 2 Scene 1, line 33-61, while I will likewise assess other related part all through the play. Since Lord Tennyson and William Shakespeare are from various time in the history, their point of view of the world will be extraordinary, in this manner I will likewise make reference to about Shakespeare’s and Lord Tennyson’s alternate point of view towards force and language they utilized. Most extraordinary essayists mirror their demeanor to life on their work, so it is critical to consider the social and authentic foundation of the Jacobeans when Shakespeare composed the play, and the Victorian time, when Lord Tennyson was alive. In Victorian occasions, Britain was an amazing nation. There were boundless open doors for basically the privileged individuals to expand their insight by going to new places and experience the remote societies. At the point when Lord Tennyson composed this sonnet, he was lamenting over his best friend’s passing. By composing this sonnet he had the option to communicate his enthusiastic inclination just as to convince him to release it. He likewise had the chances to tell individuals that it is â€Å"never past the point where it is possible to look for a more up to date world†. For models, Ulysses’ new world would be the hereafter world and Lord Tennyson’s new world would be the world without his closest companion. Toward the finish of Macbeth, the ethical we get is that never to go too far of Divine Order. During Jacobean time, they accepted that the obligation of the King is picked by God: They accepted that each living being has a request and it is chosen by God, this is call the Divine Order. In the event that one chooses to conflict with the Divine Order, such as executing the King to be simply the government at that point, he had accomplished something that is sullen during the Jacobeans: conflicting with God. Shakespeare attempted show that by the expense of Macbeth need to look after he had killed the King, one model is that he lost his regards from his squires and toward the end he was without anyone else. Jacobeans were likewise offbeat; they accepted that witches are insidious on the grounds that they venerate evil spirit, so if there was a plague or a cataclysmic event, they accused on the witches: they are first put to preliminaries and afterward was executed, basically hanged or consumed. Since Shakespeare made Macbeth partner with the witches by talking and more terrible of all confiding in them, that made Macbeth abhorrent. Shakespeare did this to satisfy his King, King James, as he was against the powerful and was capable assistance King James to spread the evilness of the witches through his play. The sonnet, â€Å"Ulysses† began by a moderate musicality. Master Tennyson dealt with this by utilizing the words with long vowels, for example, â€Å"hoard, and rest, and feed†. These words give us the feeling of bluntness and unremarkable, which was the means by which Ulysses feels toward the start. In any case, as we go further down the sonnet, the bluntness was decline as he began to discuss his audacious days.

How to Reduce Stress Wit Happiness Research

How to Reduce Stress Wit Happiness Research Happiness Print 15 Surprising Things Happiness Research Uncovered The Happiness Research You Should Know About By Elizabeth Scott, MS twitter Elizabeth Scott, MS, is a wellness coach specializing in stress management and quality of life, and the author of 8 Keys to Stress Management. Learn about our editorial policy Elizabeth Scott, MS Medically reviewed by Medically reviewed by Steven Gans, MD on August 05, 2016 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD Updated on February 11, 2018 Mint Images - Tim Robbins/Mint Images RF/Getty Images More in Self-Improvement Happiness Meditation Stress Management Spirituality Holistic Health Inspiration Brain Health Technology Relationships View All With the relatively new field of positive psychology growing, a wealth of new happiness research helps explain what and how of the emotion. All this new science also gives insight into what makes life worth living, and how to combat stress by promoting its opposite: serenity. Below are some interesting findings in happiness research. While each study alone may not be definitive â€" each study is a small piece of a larger picture, and its always good to have research replicated by more than one researcher â€" these studies on happiness provide useful information on what promotes happiness, health, serenity and meaning in life. Youll also find opportunities to comment and add your own thoughts on the happiness research. Read on, and find tools to build a happier you! If you want even more info, take this quiz to find out if your lifestyle is actually making you happy! 1. Kindness Is Contagious When people see others doing something kind, theyre more likely to do so as well, which can lead to other great benefits for the givers. And just think: if we were all a little more kind, how much less stress would there be in the world? 2. Weekends Really Are Good for Us Workers, even those with interesting, high status jobs, really are happier on the weekend. How might this knowledge help you relieve stress during the week? 3. Winning the Lottery Wont Keep You Happy Thats right, winning the lottery may make you happy in the beginning, but that happiness dissipates pretty quickly. Lots of money doesnt create lasting happiness (or, for that matter, lasting relief of stress). 4. Positive Affirmations Work â€" And Dont Theres a trick to using positive affirmations; they need to fit certain criteria to be effective. Be sure youre not wasting time and energy on repeating positive-sounding phrases to yourself that actually backfire and make you feel more stressed! Read the research on positive affirmations. 5. Happiness Involves Having What You Want... and wanting what you have! Thats right, researchers found that people are happy when they get what they want (not surprisingly) and when they appreciate what they already have. Use this information in your life to promote contentment and relieve stress, read more about this gratitude-happiness research. 6. Botox May Soften Emotions as Well as Wrinkles Researchers found that those who have been injected with Botox to mute expression lines may feel decreased emotional responses as well. This may bring insight into how we can relieve stress, even if were not Botox users. Read on to find out why. 7. Feeling In Control Doesnt Just Make You Happier... it makes you healthier as well! Researchers linked focus of control with more positive health outcomes. Learn more about what this can mean for you. 8. We Really May Eat More Chocolate When Feeling Depressed Researchers found that those who are depressed consume a greater amount of chocolate than those who dont. How can this impact you? Learn more about the research, and the link between  chocolate and depression. 9. Friends and Sleep Are Good for Us Researchers found that getting more sleep and having more social support in your life were both good for your health. Interestingly, they can both help you feel less stressed as well. If you have difficulty sleeping, check out these  stress and sleep resources. 10. Happy People Are Resilient People Those who seed their life with frequent moments of positive emotions increase their resilience against challenges. Its also a great way to relieve stress and enjoy life more. Learn more about happiness, resilience, and the good life. 11. Grateful People Sleep Better at Night Those who journal about the things they appreciate before they go to sleep actually do have better sleep! What kind of gratitude journaling works best? Read more about gratitude and sleep, and find resources for both. 12. Better Posture Translates Into Greater Confidence Researchers found that those who purposely sat up straighter in their chairs tended to have a greater belief in their own abilities. (And as we saw earlier, greater confidence and belief in your ability to have control in your life can relieve stress!) Learn more about posture and self-belief. 13. You Can Talk Yourself Out of Feeling Stressed Thats right â€" simply reading certain words can help you feel more serene and less stressed. Read on to see what they are! 14. Laughter Is the Best Medicine Laughter, or even the anticipation of a good laugh, can actually lower your stress hormones significantly! Looking to get more laughter (and less stress) into your life? Learn about the benefits of laugter. 15. Positive Emotions Can Lead to a  Better and More Satisfying Life Being sure you have a dose of positive emotion every day can do more than make you feel good for a few minutes. Regular positive emotions can carry far-reaching benefits for many areas of your life, so focusing on the positive and enjoying things that get you into a good mood can be especially beneficial. Read more about the far-reaching benefits of positive emotions, and find ways to get more of those good feelings in your life.

How Socrates Understanding of a Universal Order Undermines His Logic - Literature Essay Samples

In the Apology, Socrates tries to convince the jurors that, if they kill him, they will only be harming themselves. This argument is part of Socrates’ larger defense of his actions as he seeks to avoid drinking the hemlock. Socrates makes two claims: (1) that the jurors cannot harm him, and (2) that by executing him, they will only be harming themselves. To strengthen his position Socrates relies on an idea of the universe as having an inherently rational order. This idea is at the foundation of many of the premises in his argument. Socrates requires us to accept his perspective of the universe if we are to validate his logic. Unless we take issue with his pre-conditions, there is no flaw in the logic of his argument. Thus while his argument is valid, it is not sound; the premises upon which Socrates builds his argument are faulty. (1)Socrates’ first claim that the men of the jury cannot harm him – rests on the premise that a better man cannot be harmed by a worse one. It does not seem plausible to Socrates that the order of things would allow for evil to triumph over good; it would not be â€Å"permitted that a better man be harmed by a worse,† (Plato, Apology, 30d, p.35). Though this argument takes place in the Apology, the Phaedo gives more insight into why Socrates believes that the universe must be ordered so as to preclude evil from prevailing over good. Socrates states his belief that â€Å"it is the Mind that directs and is the cause of everything,† (Plato, Phaedo, 97c, p. 135). He finds the nature of the Mind to be such that it would require the universe to be rationally governed. As part of that rationality, the Mind would only allow for things to occur in â€Å"the way that was best,† (Plato, Phadeo, 97d, p. 135). According to this conception, good cannot triumph over evil because rationality tells us that it would not be â€Å"best.† It is this very intuition, from the Phaedo, which s upplies the evidence for Socrates’ assertion in the Apology: that the nature of the universe is such that, just as evil cannot trump good, it would not be permitted â€Å"that a better man be harmed by a worse,† (Plato, Apology, 30d, p. 35). Once Socrates has established by his logic that a better man cannot be harmed by a worse one, Socrates claims that he is the better man, and as a result the jurors cannot harm him. The success of Socrates’ assertion that the jurors cannot harm him rests upon the validity of his claim to be a better man. Throughout his trial, Socrates denies the charges against him and argues that, rather than attempting to corrupt the youth, he has only been searching for truth. According to Socrates, his mission is god-given: â€Å"Be sure that this is what the god orders me to do, and I think there is no greater blessing for the city than my service to the god,† (Plato, Apology, 30a, p. 35). So from his own perspective, Socrate s has been pursuing the highest good. He is living the life that everyone should strive for. As such a man, sitting in front of a jury of men ready to convict him, Socrates considers himself to be the better man. As a result, the jurors cannot harm him because they cannot be better than him, and something that is â€Å"worse† cannot be harmed by something that is â€Å"better†.This conclusion, that the jurors cannot harm him, is applicable to Socrates’ later, broader claim that he has nothing to fear from death. Since the jury cannot harm him, Socrates has nothing to fear from any punishment it might invoke upon him. They could tar and feather him and they would still be unable to cause him harm. This is a position that Socrates explores further in the Phaedo. According this logic, death could never entail harm because harm is impermissible given the natural order of good over evil – the natural order that prevents a worse man from harming a better one. If Socrates’ reasoning in the Apology is sound, then he would, indeed, be correct in finding nothing to fear in the prospect of death.This final claim can be invalidated by taking a closer look at why Socrates believes that the jurors cannot harm him. Socrates believes that the jurors cannot harm him, the better man. His argument rests on two premises; that he is a better man than the jurors, and that there is some inherently rational order in the universe that requires better men to triumph over worse ones, and good always to prevail over evil. This first claim is weak, if only because it stands in direct opposition to the accusations he is facing on trial. Of course Socrates considers himself to be a good man – he is defending himself on trial! But it is not at all clear how he arrives at the conclusion that he is a better man than the jurors. His relies on the notion that his mission is god-given, and so inherently good. But the use of the words  "better† and â€Å"worse† in his argument seem somewhat arbitrary because we don’t know how Socrates discerns that he is better than the jurors. The only justification for this intuition is Socrates’ assertion that he is following the gods. This is not sufficient, though, because we have no way of knowing that Socrates is actually following the gods. He could be lying. As a result, we lack a logically defensible understanding of how to qualify what is â€Å"better† or â€Å"worse.† Since we cannot arrive at these judgments without relying on Socrates’ intuition, his argument is not sufficient.The second premise Socrates uses to support his initial assertion (that the jurors cannot harm him) is that a better man cannot be harmed by a worse one. But this is not sufficient; even if we were to concede that Socrates is a better man than any of the jurors, this does not prove that he could not be harmed by them. This intuition comes f rom Socrates’ belief in a rational, orderly universe in which good would not be allowed to triumph over evil. He describes this intuition when he asserts that the Mind â€Å"would direct everything and arrange each thing in the way that was best,† (Plato, Phaedo, 97c, p. 135). Socrates believes the Mind to operate based upon pure rationality. Rationality dictates that good must always triumph over evil. But Socrates’ conviction is mere intuition. He does nothing more than describe those convictions which cause him to believe in a rationally ordered universe, and never tries to justify them. Socrates provides no proof that â€Å"the Mind† must operate in such a way. We have no more reason to believe in Socrates’ vision of the universe than to believe in one that sees the world as inherently arbitrary and unfair. We can wonder if Socrates’ belief in a rationality that is â€Å"good† is based upon his belief in the gods. Perhaps he is confidant that the gods would only order the universe in such a way so as to ensure that good always wins over evil. But this is merely Socrates’ belief. It is not something for which there is any kind of proof. Ultimately, then, his argument that the jurors cannot harm him is valid, but not sound, because the structure of its argument is logical, but he does not provide compelling evidence to justify his premises. The arguments that Socrates employs to defend his assertion that the jurors cannot harm him are intuitively valid but not logically sufficient. Socrates seems to see a natural order in the universe, and seeks to use it as justification for his case. For him, good always trumps evil and rational people always do what is best. But Socrates does not reach these conclusions through any sort of logical argument; they are purely intuitive. It is not clear whether Socrates relies on anything other than that intuition when he asserts that the Mind arranges eve rything such that evil could not triumph over good. He claims first that the Mind â€Å"would direct everything and arrange each thing in the way that was best,† (Plato, Phaedo, 97c, p. 135). Socrates believes the Mind to operate purely based upon rationality. And he does not see it as rational that the Mind would allow evil to trump good. But this is nothing more than an intuition; Socrates provides no proof that the Mind must operate in such a way. And even if we grant him the assumption that the Mind is purely rational, it is still not clear how rationality necessarily demands such an ordering of good and evil. We can wonder if Socrates’ belief in a rationality that is â€Å"good† is based upon his belief in the gods. Perhaps he is confidant that the gods would only order the universe in such a way so as to ensure that good always wins over evil. But this is merely Socrates’ belief. It is not something for which there is any kind of proof. Stil l, Socrates stands firm with conviction, and proceeds with his argument without justifying his intuitions. Neglecting to justify the premises of his argument causes it to collapse under the weight of critical analysis. Consequently it is impossible to confirm the logical soundness of Socrates’ conclusions. (2)Socrates’ second main claim is that the jurors will only be harming themselves if they kill him. This claim relies on a similarly feeble premise that can also be easily discredited. Socrates argues that, though the jurors â€Å"might kill [him], or perhaps banish or disenfranchise [him]† they will ultimately be harming themselves, (Plato, Apology, 30d, p.35). He sees himself as a great asset to the city, and believes that Athens would be mistreating â€Å"god’s gift† if they condemned him, (Plato, Apology, 30d-e, p. 35). Socrates’ assertion is that, contrary to popular opinion, he has been doing the people of Athens a great servic e, and they will be greatly harming themselves by removing him from their presence. In addition to harming themselves by eliminating a source of truth, convicting Socrates would also be an act that would harm the jurors because they would be condemning a good man. Since, according to his own calculation, Socrates is better than the jurors, they will be incapable of causing him harm. This second claim is again valid, but also unsuccessful because it relies on premises that Socrates does not prove. We have no reason to believe that Socrates is the god-driven truth-seeker he claims to be. We cannot test whether or not god ordained that Socrates should act as he does. Because it is not necessarily the case that Socrates is who he says he is, it is also not necessarily the case that he is better than the jurors. Consequently, Socrates’ argument that the jurors will only be harming themselves by executing him is logically valid, but not necessarily the case that its premises are true. These arguments from the Apology are ultimately thwarted by Socrates’ unjustified conviction in the natural, rational order of the universe. It is difficult for us to imagine the conviction with which Socrates must have declared his truth-seeking mission to be god-given. But in the days of Athens, the gods were the ultimate authority. Socrates is able to avoid having to justify some of his intuitions by cleverly appealing to this authority. Though it may have been a useful rhetorical tactic against a group of jurors who shared his religious conviction this method is ultimately insufficient to prove the arguments Socrates sets out to make. His characterization of the consequences to the jurors of putting him to death is untenable. Still, Socrates stands firm with conviction. And even if, as readers, we can see the invalidity of his rationale, Socrates takes his arguments with him to the grave. Works CitedPlato. Five Dialogues: Euthyphro, Apology, Crito, Meno, Phaedo. Trans. G. M. A. Grube. Indianapolis: Hackett Publishing Company, Inc., 2002.

Equity And Bonds Returns The End Of A Golden Era Essay

Equity and Bonds Returns: The End of a Golden Era? Despite numerous periods of global financial excesses, and subsequent corrections, over the past 30 years, the returns on equities and bonds in the US and Europe have been considerably above their long-term averages. The outperformance has been most pronounced in long-dated government bonds. The average annual real return on these instruments between 1985 and 2014 was +5.0% in the US and +5.9% in Europe, compared to long-run returns of +1.7% and +1.6%, respectively. Meanwhile, the outperformance of equities between 1985 and 2014 was more modest. The average annual real return on US equities was +7.9%, compared to a long-run average of +6.5%, while these respective measures in Europe were +7.9% and +4.9%. Two major related factors can predominantly explain this golden period for both bonds and equities, namely the taming of inflation and the subsequent decline in interest rates to historic lows. Both inflation and interest rates are important inputs into valuation models for long dura tion assets, thereby implying that their respective influences on returns over the past 30 years have, therefore, been largely felt through changing valuations. Equity returns are, however, explained by other factors, including economic and corporate fundamentals, of varying complexity. Positive demographics, technological innovation, and global supply chains have also helped to contain costs, while the emergence of new markets, notably China,Show MoreRelatedEquity And Bond Returns : The End Of A Golden Era? Essay1779 Words   |  8 PagesEquity and Bond Returns: The End of a Golden Era? Despite numerous periods of global financial excesses, and subsequent corrections, over the past 30 years, the returns on equities and bonds in the US and Europe have been considerably above their long-term (100 year) averages. The outperformance has been most pronounced in long-dated government bonds. 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