Medusas Creation In Clash Of The Titans Film Studies Essay

Medusas Creation In Clash Of The Titans Film Studies Essay An examination of analogue and digital tools utilized in the creation and animation of Gorgon Medusa in Clash of the Titans (1981) and in Clash of the Titans (2010). This essay aim to discuss, compare and bring forth an understanding of the tools and techniques implemented in the creation of the Medusa Creature in Clash of the Titans (1981) using the technique of stop-motion animation and miniatures and in the use of digital computer generated model and motion-capture in Clash of the Titans (2010). Clash of the Titans (1981) is a Greek Epic which was directed by Desmond Davis and Produced by Ray Harryhausen and Charles H. Schneer. Ray Harryhausen, the most successful, innovative and leading animator and Visual Effects artist. He is the landmark for the stop-motion animation. A man who has inspired us all, one frame at a time. (THE SECRET LAB DISNEY FEATURE ANIMATION AND WALT DISNEY COMPANY). He was inspired by King Kong (1933) which was animated by Wills OBrien, first Stop-Motion Animator, and it changed his life. Ray Harryhausen and Charles H. Schneer are long-time colleagues. Their first combination movie was It Came from Beneath the Sea (1955). Both decided to produce Clash of the Titans (1981), a low budget product with a predictable and dependable margin of profit but it happened to develop into a big-budget production (Cinefex, 1981). Because of big-budget Ray produced extra dose of stop-motion effects. Movie took nearly three years of development and preproduction and its budget was $16 million and become the 11th highest grossing film of 1981 (CG World, 2010). He did lot of work for creating city of Argos miniature, puppets of winged horse Pegasus, Calibos, snake-tailed Medusa, Dioskilos, Scorpions and the Kraken. This was Rays last film; he took retire after the Clash of the Titans. Its been 29 years since Ray Harryhausen and Desmond Davis released the original Clash of the Titans (1981). Now the Greek Gods are back again for another battle in Warner Bros. Pictures remake of the original Clash of the Titans, directed by Louis Leterrier. Louis Leterrier was a fan of the original Clash of the Titans and he wanted to make sure this new Clash of the Titans. Nick Davis, the visual effects supervisor divided the visual effects work into three main parts because of 900 visual effects shots and short postproduction. Postproduction completed in 25 weeks by artists at The Moving Picture Company, Framestore and Cinesite (Cinefex, 2010). A colossus of stop motion goes head to head with the new giants of CG, as Jim Thacker discovers how three VFX houses re-imagined Ray Harryhausens final creature feature for the digital era (3D World, 2010). We divided it into three main parts, playing to the strengths of the different houses, and locking together those sequences that, logically, would stay together. Whoever did the Kraken, for example, would have to do the city of Argos. So that block of work stayed together and went to MPC. The Scorpioch battle was very much a stand-alone sequence, and we felt it lent itself quite well to the skill sets of Cinesite. That left everything else Hades, Medusa, Calibos, and all of the other environments to Framestore. By Nick Davis (Cinefex 2010) CLASH OF THE TITANS (1981) GORGON MEDUSA, terryfying female creature in Greek Mythology, She is one of the three Gorgon sisters. Medusa had once looking good, but after a assault in Athena Temple the goddess, Aphrodite, turned her into a weird creature having serpents on the head instead of hair and her lower body look like snake, upper body is albeit green and covered in reptilian scales and her curse of turning human life that looked at her into stone. Ray Harryhausen developed Medusa into a dynamation( it is the name of the technique used by Ray Harryhausen used to combine stop-motion footage with live action by means of split screen and rear projection) character. He researched about the Medusa creature how the art and literature painted and he discovered two paintings by Caravaggios Medusa and Leonardo da Vincis Testa di Medusa (An Animated Life, page 272). By watching the portrait of Caravaggios Medusa Ray realised that this look attractive rather than Gorgon. He saw an attractive statue of Perseus holding frightening Medusas head by Cellini in Florence and decided to design Cellinis Medusa in his film. The torso of her should give the ugliness to her face so he decided to give her a non human body. After a long debate Ray opted to twelve snakes on the head, instead of arise from the skull he laid them on head to take more space and for the lower body added a rattlesnake tail for the interesting opening sequence. When he was setting up for animation he had no idea about how the Medusa is going to move because of her lower snake body and the heavy weight of her top. He took a reference image from the 1932 Tod Browning Film Freaks, in this film a handicapped man move forward by the support of hand (An Animated Life, page 272). The model of Medusa is 14 inches high and 24 inches long from the tip to the head of the Medusa. The Medusa contains 150 armature joints (the kinematic chains used in computer animation to simulate the motions of virtual characters). Initially Ray planned to build two Medusa characters one with full body and another with only head for the close up shots. But for the close up shots with big head had to use bag filters to look good so he decided to manage with the single Medusa it is enough to shoot her face, tail and lower body individually. The animation of Medusa took days for the simple movement like moving her hand to reach the bowstring and few more days to pick the arrow and few more days to release the arrow. And also animating the general movement of the mouth, eyes and fingers and the realistic movement of her tail took more time to complete the perfect animation. Including this he had to animate the twelve individual snakes at every point on the head and the head and tail of the twelve snakes are separate and he had to move them separately, so totally twenty four movements plus one more around her wrist (An Animated Life, page 274-275). In the film the Medusa sequence is six minute and it contains fifty-three stop-motion cuts (The Stop-Motion Filmography, Page 139). The most successful achievement of the medusa sequence is it doesnt appear like composite photography. The whole shots of medusa were shoot on a full size set of chamber except some steps and the pillar is constructed in miniature. To show the creepy in the scene the opening sequence of the medusa is seen only in the part of shadows, the raising tail on the wall and the head with snakes on her hair writhe, in this part of the sequence the wall and the column are the miniatures set, placed in front of the rear-projected with flaming braziers ( The Stop-Motion Filmography, page 140). Miniature is a representational model which are built, operated and photographed so as to appear to be genuine in character and full-scale of size ( Special Effects of Cinematography, page 322). Rear-Projection and Miniatures were the common tool for the visual effects artists in early history. Miniatures presents three -dimensional, lighting can be changed from shot to shot. In long shot Medusa drags herself along with her arms enter into the scene. This is the scene which was composited by rear-projection technique. A rear projector and camera positioned on either side of a central assembly consisting of a rear process screen and an intermediate pane of glass between it and the camera. Small areas of live-action footage to be projected onto the screen and then surrounded with elaborate glass paintings. Background temple is a live action footage which was projected on to translucent screen by rare projector and camera is used to shoot on to the translucent screen, in between the camera and the translucent screen Medusa is placed and animated. To interact the character with background they used a brazier on the left of the rear projection. Fig. Dynamation by Ray Harryhausen Fig. Rear-Projection Technique In the next two shots, a composite of Medusa into the centre of shield of Perseus by using a matte technique. Matte is a technique of combining foreground and back ground image elements into one final image by compositing. In those days before computer graphic technology they used glass shots, mirror shots, travelling matte shots, in camera matte shots, optical printing and aerial image printing for matte. In this movie they used travelling matte to compose Medusa onto the Perseus shield. In travelling matte the compositing is done on a optical printer. Both the foreground and background scenes are printed onto a duplicate negative. While compositing the Medusa onto the shield the background image (Perseus with shield) looks like a still image it is used to avoid more complicate on the scene. Fig. Travelling matte Fig. Medusa on the shield of Perseus using matte. Another rear projection used in this movie is when the Medusa looks into the fallen soldier and he turned into stone because of her curse. This is a scene where the background is a live action shoot and the Medusa is composed onto background by using rear-projection. In the foreground the camera zooms in from the medium shot to close up of Medusas face to show her eyes more lighting and the skin with scaly green and her jagged teeth ( The Stop- Motion Filmography, page 140). In this scene her eyes are composed for lighting by using matte. Fig. Medusa with lighting eyes to show her power to turn into stone. In the next shot Medusa passes behind a statue. It shows the depth between the foreground, midground and the background. In the background is the live shoot and in the midground Medusa passes along on her tail and in the foreground a statue. The statue is actually a miniature and some brazier is used for lighting on a statue. This is a scene mixed of rear projection, miniature and matte techniques. The next scene Perseus is ready to cuts off the Medusas head. In this sequence the foreground Medusa puppet is actually a far off and behind live action figures. In this scene they used a camera technique by using dollies to show the foreground puppet is beside the Perseus to create the depth in the scene. This type of technique is called reality sandwich , it fools the eye to think that a foreground puppet is actually far off and behind live action figures ( The Stop-Motion Filmography, page 141). The sequence fallowed by cutting the head of the Medusa. This scene is shot by using wires for the animation of the separated head of Medusa. And one of the Medusas hand scratches with the fingernails onto the pillars. In this scene the pillar, it is actually a miniature and the scratches are drawn on a cardboard and they animated it after the Medusas hand. After the body fell down the red goo comes out from the neck, actually the goo was shot separately, it is mixed of red-tinted wallpap er paste. They cut a tube that would match the size of the neck and it is tied with the black velvet and it is poured it down the tube, it looks like oozed out. After that it is matted it into the scene ( An Animate Life, Page 274). The Medusas sequence ends with a final shot with static matte contains Perseus stands and holding the Medusas head on right and to the left the lower body of Medusa lying in a pool of red ooze ( The Stop-Motion Filmography, page 141). CLASH OF THE TITANS (2010) Warner Bros. Pictures remake original Clash of the Titans. Much as the fondly remembered 1981 feature is a reworking of the myth of Perseus, this 2010 release is director Louis Leterriers reimagining of the Harryhausen original (3DWorld, page 30). Aaron Sims Company (Production and Character Design Company) designed the variety of creatures based on the Greek mythology characters and the characters appeared in Rays original film. Weve seen so many Greek mythology characters done in films, Aaron Sims. Sims team designed more than 1000 designs by the end of the project time. The team started with pencil designs, Photoshop paintings and 3D models, textured and rendered lot of 3D characters still images. These were given to the visual effects crews and previsualization team to utilize them in the production (Cinefex 2010). Fig: Medusa Designs of Aaron Sims company (Character Design Company) Because of the short time of post production and the 900 shots of computer graphics Nick Davis divided work into 3 parts and gave to three main visual effects houses in London. Framestore got the work of Medusa, Hades and Olympus. Framestore carefully distributed the snakes on Medusas head to convince the viewer that her head and neck are capable of bearing thier weight ( 3DWorld, page 30). Based on the designs of Aaron Sims Company visual effects artists made Medusa with a massive snake body on lower part and snakes replaced with hair on the head of the Medusa and her body slithers into a womanly shape. Medusa is a beautiful lady because of the curse by gods she turned into gorgon, so they took some reference photos of Natalia Vodianova to design the face of Medusa. We had to try to make the snake body merge seamlessly into a human body and still feel snake-like, Webber says. The 50-foot snake starts changing into a human body and still hips. You see a slight bulge, a hint of stomach muscle, and the scales smooth out. She has metal armor a kind of metal bra with a snake design.( CGWorld, ) In Clash of the Titans(2010) Medusa is completely designed and animated by using Computer Graphics. When compared to original movie Ray Harryhausen used a puppet Medusa and rear projection techniques for mixing the live footage and the Medusa character for the entire sequence. To animate snakes on her hair they wrote a plug-in for Maya (Autodesks) to manage the scales. Every snake is individually animated by using this plug-in. In the original movie Ray is the only person who animated the snakes individually by hand. Eventhough she doent have any dialouges, she had facial expressions based on the Vodianova, they had full-on facial animation rig to show creepy in the audience. They modelled two models in 3D, both are animatable. One with beautiful face and the another with scary snake. They used morph to change from beautiful face to scary snake. When she pertifies people, her head changes from beautiful women to a scary snake (CGWorld, ). In the morphing the model could change, the texture could change, and the skin surface could change. It is not possible to change all at same time. She again changes from scary snake to human, in this scene the animators managed the timing for the morph and for the snakes. Because of the individual behavior of the snakes procedural techniques are not worked and so the animation of snakes ended up a lot with a hand animation. Fig. Medusas head transform from scary snake to beautiful women

Angelas Ashes Essay -- essays research papers

Angela's Ashes Exposition:   Ã‚  Ã‚  Ã‚  Ã‚  Characters: Francis McCourt- protagonist   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Malachy McCourt (father)- antagonist   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Angela McCourt (mother)- protagonist   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Malachy McCourt (brother)- protagonist   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Michael McCourt (brother)- static   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Alphie McCourt (brother)- static   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Abbot (uncle)- protagonist   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Uncle Pa Keating (uncle)- protagonist   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Aunt Aggie (aunt)- antagonist   Ã‚  Ã‚  Ã‚  Ã‚  Setting: In the poor part of Limerick, Ireland around 1938.   Ã‚  Ã‚  Ã‚  Ã‚  Rising Action: 1. Frankie's father, Malachy, lost his job in America. There is no money left in the family and they are living a poor and unhappy life without enough money to live. They are depending on the government to help them. 2. Frankie's mother has a baby, Margaret. Because of the lack of money the family can't eat and keep the children healthy. Margaret, the only girl dies and Frankie's mother and father are very unhappy. They go through hard times because of their loss. 3. Frankie's mother's cous...

Bill Miller and Value Trust

? Bill Miller and Value Trust Background Information Bill Miller is one of the most renowned professional fund managers. This can be proven by the outperformance of the Value Trust, which is managed by him, compared to its benchmark index, the Standard & Poor’s 500 Index (S&P 500), for an astonishing 14 years in a row; and this marked the longest streak of success for any manager in the mutual-fund industry. By the middle of 2005, Value Trust is worth $11. 2-billion. Bill Miller’s approach to investment management was research-intensive and highly concentrated. For instance, nearly 50 percent of Value Trust’s assets were invested in just 10 large-capitalization companies. While most of Bill Miller’s investments were value stocks, he was not averse to taking large positions in the stocks of growth companies. In other words, Bill Miller’s investing style is iconoclastic: â€Å"You simply can’t do what he’s done in the supremely competitive, ultra-efficient world of stock picking by following the pack†¦The fact is that Miller has spent decades studying freethinking overachievers, and along the way he’s become one himself. † Mutual Funds Definition A mutual fund is an investment vehicle that pooled the funds of individual investors to buy a portfolio of securities, stocks, bonds, and money-market instruments to meet specific investment objectives; investors owned a pro rata share of the overall investment portfolio (Bruner, 2007). The various investments included in a fund’s portfolio are handled by professional money managers in line with the stated investment policy of the fund. All mutual funds have a portfolio manager, or investment advisor, who directs the fund’s investments according to explicit investment objectives. Mutual Fund Types Investors have different objectives, so various types of mutual funds are needed to help them achieve their goals. Most mutual funds fit into one of three basic categories: money market mutual funds, bond funds, and stock funds. Money market mutual funds hold cash reserves, or short-term debt investments issued by the government, corporations, or financial institutions (i. e. , U. S. Treasury bills and bank certificates of deposit). Bond funds invest in debt instruments issued by corporations or government agencies. Stock funds are one of the most popular types of mutual funds, ranging from relatively conservative equity income funds to value funds, growth funds, aggressive growth funds, small-company funds, and international funds (Hirschey and Nofsinger, 2008). Advantages of Mutual Funds Diversification Using mutual funds can help an investor diversify their portfolio with a minimum investment. When investing in a single mutual fund, an investor is actually investing in numerous securities and spreading investment across a range of securities can help to reduce risk but will never completely eliminate it. If a few securities in the mutual fund lose value or become worthless, the loss maybe offset by other securities that appreciate in value. Professional Management Mutual funds are managed and supervised by investment professionals. As per the stated objectives set forth in the prospectus, along with prevailing market conditions and other factors, the mutual fund manager will decide when to buy or sell securities. This eliminates the investor of the difficult task of trying to time the market. Furthermore, mutual funds can eliminate the cost an investor would incur when proper due diligence is given to researching securities. Convenience With most mutual funds, buying and selling shares, changing distribution options, and obtaining information can be accomplished conveniently by telephone, by mail, or online. Minimum Initial Investment Most mutual funds have a minimum initial purchase of $2,500 but some are as low as $1,000. Disadvantages of Mutual Funds Risks and Costs Changing market conditions can create fluctuations in the value of a mutual fund investment. There are fees and expenses associated with investing in mutual funds that do not usually occur when purchasing individual securities directly. There are drawbacks associated with mutual funds: No Guarantees. The value of mutual fund investment could fall and be worth less than the principle initially invested. The Diversification â€Å"Penalty†. Diversification can help to reduce your risk of loss from holding a single security, but it limits your potential for a â€Å"home run† if a single security increases dramatically in value. Costs. In some cases, the efficiencies of fund ownership are offset by a combination of sales commissions, redemption fees, and operating expenses. If the fund is purchased in a taxable account, taxes may have to be paid on capital gains. Expenses Because mutual funds are professionally managed investments, there are management fees and operating expenses associated with investing in a fund, which is called expense ratios ranging from 0. 2% to 2. 0%. These fees and expenses charged by the fund are passed onto shareholders and deducted from the fund’s return. Taxes As a fund shareholder, you can be taxed on distributions of dividends and/or capital gains made by the fund and profits you make when you sell the fund shares. Research Hypothesis 1. There is a possibility that his overall performance may be affected because of Bill Miller’s choice of concentrating heavily in certain sectors such as financials, health, consumer goods, and telecommunications. 2. By examining and analyzing various theoretical explanations, we will be able to determine whether Bill Miller’s success is dependent on luck and/or skill and whether it is sustainable or not. Evaluation of Bill Miller’s Performance Bill Miller’s results seemed to contradict conventional theories, which suggested that, in markets characterized by high competition, easy entry, and information efficiency, it would be extremely difficult to beat the market on sustained basis. Efficient Market Hypothesis (EMH) There are three levels of market efficiency which were distinguished by the degree of information believed to be reflected in current securities’ prices. The weak form of efficiency maintained that all past prices for a tock were impounded into today’s price. The semistrong form of efficiency held that today’s prices reflected not only all past prices, but also all publicly available information. The strong form of efficiency held that today’s stock price reflected all the information that could be acquired through a close analysis of the company and the economy. Many scholars argued that the sock market followed a â€Å"random walk†, where the price movements of tomorrow were essentially uncorrelated with the price movements of today. They argued that capital markets’ information was efficient, and that the insights available to any one fundamental analyst were bound to be impounded quickly into share prices. If EMH were correct and all current prices reflected the true value of the underlying securities, then arguably it would be impossible to beat the market with superior skill or intellect. â€Å"In such a market,† as one economist said, â€Å"We would observe lucky and unlucky investors, but we wouldn’t find any superior investment managers who can consistently beat the market. Yet, Bill Miller, who over long periods, greatly outperformed the market. In reply, Malkiel suggested that beating the market was much like participating in a coin-tossing contest where those who consistently flip heads are the winners. Malkiel suggested that the success of a few superstar portfolio managers could be explained as luck. Similarly, the stock-market crash on October 1987 had also seemed to undermine t he strength of the EMH. Academic research exposed other inconsistencies with the EMH, for example, January effect, blue Monday effect, etc. Those results were inconsistent with a random walk of prices and returns. Bill Miller was an adherent of fundamental analysis; his approach was research-intensive and highly concentrated. Nearly 50% of Value Trust’s asserts were invested in just 10 large-capitalization companies. Analysis of Bill Miller’s Key Strategies Bill Miller, portfolio manager for Legg Mason Value Trust, had a great track record for an astonishing fourteen years in a row. He was the only active mutual fund manager to have consistently beaten the S&P 500 over the last fourteen years. Bill Miller pointed out that his streak was due to luck; 95 percent luck. This section will evaluate Bill Miller’s investment philosophies and whether he is just plain lucky or it is based on luck and sustainability. The figure below lists the categories in which Bill Miller has invested in and the annual returns each category receives: As can be seen in the figure above, Value Trust has a portfolio that is highly volatile. Although highly volatile, the concentrated portfolio still showed outperformance when judged by calendar years, thus giving an ominous sign that the outperformance is not the result of good stock picking, but merely the result of taking on greater risk than the market as a whole. Bill Miller’s investment philosophy to build up Value Trust is to consistently buy cheap stocks, and focused on established companies suffering through periods of poor performance. These judgments resulted in Value Trust’s outperformance for fourteen years. However, taking risks (i. . having a highly concentrated volatile portfolio) and underperforming the value style (i. e. buying cheap stocks from companies suffering through periods of poor performance) is not a good combination and could hurt him later on. One might think that Bill Miller’s investment philosophy could be a â€Å"value trap†, mistaking a more or less permanent change in value or industry conditions for a tempora ry one. The bulk of Bill Miller’s portfolio is from consumer (i. e. homebuilding) and financial categories. These stocks tend to trade at cheap prices. Furthermore, the housing bubble began inflating in mid 1990’s, thus making it an easy way for investors like Bill Miller to make money. This event led to further success of Value Trust despite the high level of volatility. Investment Philosophies Buy low-price, high intrinsic-value stocks Bill Miller tends to invest in stocks that are undervalued by the market. People believe that a business is broken, scandal, but the company is still able to generate positive future cash flows. He buys low and sell high. The market price in long run still imitates the value of the firm. Take heart in pessimistic markets Bill Miller tends to invest in stocks that have the least promising outlook and sell those stocks that have the greatest opportunity for near-term gain. In other words, Bill Miller is investing in stocks that have the greatest opportunity for long-term gain instead of near-term gain. Remember that the lowest average cost wins The lower the shares go, the higher the future rate of return and the more money you should invest in them. When a stock drops and he believes in the fundamentals, the case for future retunes goes up. Again, market price in long run still imitates the value of the firm. Buy low-expectation stocks When the market’s been down for a while, and it looks bad, then you should be more aggressive, and when it’s been up for a while, then you should be less aggressive. Bill Miller thinks buying low-expectation stocks, buying higher dividend-yielding stocks, staying away from things with high expense ratios. Take the long view Bill Miller tends to hold onto stocks he invested in for a long period of time which results in a low portfolio turnover. According to him, the biggest opportunity for investors is really thinking out longer term. Look for cyclical and secular underpricing Bill Miller tends to invest in stocks that are undervalued or mispriced. He believes that most growth people own stocks that are secularly underpriced; things that can grow for long periods of time. Behavioural Finance Bill Miller’s educational background in Philosophy and Economics and his active involvement in the study of Behavioural Finance reflect his investment strategy. During Bill Miller’s Investment Conference in 2004, he remarked that â€Å"I believe that every exploitable anomaly in the market is behaviourally based. This is the only way that sustainable anomalies can be created. These are the anomalies that are not easily arbitraged away. One of the most remarkable behavioural anomalies that we see is that people take today’s data (e. g. , the GDP report, the unemployment report) and concludes that the market is getting ahead of itself. The market does not look at today’s data. It is looking at the data down the road. † This statement demonstrates that his belief that the market reflects the available information fairly accurately in the short term. In addition, he remarked that â€Å"Because the market looks forward, because the market discounts, and because the market prices reflect, in essence, the data refracted through the decision procedures and emotions of investors, then the market will change as the world changes because it is incorporating new information. † With this statement, it appears that Bill Miller expresses a partial belief in the EMH, unlike Warren Buffet. Value Investing As what was stated in the case, Bill Miller has been following an approach to equity investing and followed a number of strategies, specifically Ben Graham’s. Bill Miller analyzes and evaluates the stocks performance in the long run which explains his strategy of buying low, with high intrinsic value. In addition, he has been holding onto stocks for a longer period than an average fund manager, hence a low turn-over rate which explains his strategy of taking the long view. Conclusion By comparing Miller’s investment philosophy with Warren Buffett’s, there is one thing that makes Buffett’s investment philosophy more applicable and Miller’s philosophy a â€Å"swing-for-the-fences† approach. Miller should look at a company’s financials before making an investment. His view of welcoming negative sentiment about companies and buying stocks as their prices fall failed to look at the company’s liquidity. The company could have issues with high levels of debt and poor financials. Even though if for instance, some of his stocks (due to volatility) have failed to meet his expectations (a â€Å"stinker†), the inflated housing bubble that grew during the 1990s caused high levels of annual return could still make the overall performance of Value Trust successful compared to the others. Thus, given the nature of his concentrated portfolio, his long outperformance can be seen as a random variable, or â€Å"luck†. There are approximately 8,044 mutual funds out there; and 4,600 of these were U. S. equity mutual funds. Thus, there is a 50 percent chance of beating the market. Since Bill Miller has outperformed its competitors over fourteen consecutive years, how come no one has followed in his footsteps?

Three Hundred Eighty Seven - 1122 Words

So much can happen over a period of 387 years. To name a few, the United States became a country, trains were invented, cars were invented, airplanes were invented, and the world experienced two world wars. Also during this period two people were born; Miguel de Cervantes and Luisa Valenzuela. Born in 1547, Cervantes would grow up to write one of the most renowned books of his time, Don Quixote. Don Quixote was first published in 1605 during the Renaissance. It is the story of Don Quixote de La Mancha, who is an average middle class, middle age man. Unlike most men of the Renaissance, Don Quixote still believes in Middle Age ideals, specifically chivalry. The book goes on to discuss Don Quixote’s ridiculous quest to become a knight errant†¦show more content†¦On the other hand, Don Quixote is ridiculed for trying to be chivalrous in after the rest of the world has moved on to the Renaissance. They are similar because both characters lose their way or are forced off th e path they need to be on. Lastly, these â€Å"heroes† are similar because both dedicate their quests to women. For Juan, he is trying to stop his letter to protect Mariana, his love. Don Quixote dedicates his efforts to a peasant. Throughout the course of both texts, the male figures lose sight of the women they dedicated their lives to, showing how little they actually cared for these women and how they simply wanted the associated glory. Clearly, the time between â€Å"The Censors† and Don Quixote didn’t affect Valenzuela or Cervantes view of â€Å"heroes†. Although he was heroic, his peers disagreed. Lastly, â€Å"The Censors† and Don Quixote are similar in the way they use satirical styles to mock their situations. Both Valenzuela and Cervantes use the satire as a way to try to end a certain way of life and bring about another. Valenzuela attempted to end the brutal dictatorship, while Cervantes tried to end the Middle ages and bring the Renai ssance into the light. The initial point that the authors argue is about the welfare of people. In â€Å"The Censors† this is seen specifically when Juan is in Section K, â€Å"where envelops are very carefully screened for explosives† (Valenzuela 966). On Juan’s third day inShow MoreRelatedThe American Automotive Company Chevrolet1152 Words   |  5 Pageswine form one cask to the other and created a pump, which was used extensively in France for decades. Louis also built and sold his own bicycle called the fronteac. He used the name later on for one of his racecars. Louis migrated to America with his three brothers Aurther, Alfred, and Gaston. During the turn of the century Louis worked for the fiat motor company. In nineteen-and one he was now known for his mechanical skills. Louis changed his car carrier to car racing. His first documented race wasRead MoreA Report On Clarksville Tennessee1326 Words   |  6 PagesClarksville Tennessee is a city that is m ade up of one hundred and forty thousand five hundred and sixty three people. That makes Clarksville the fifth largest city among others in Tennessee, and it is constantly growing (infoplease.com). The diversity amongst the population is recorded at just under sixty seven percent Caucasian, just under twenty three percent African American, and just over two percent Asian. The socioeconomic status of Clarksville’s population is varied through all strata ofRead MoreEssay on The Negative Effects of Mass Immigration1545 Words   |  7 Pages1990 legal immigrants who are not united states citizens have been taking welfare at a far greater degree than American citizens have. The generous welfare system has become an easy target for immigrants. Overall immigrant use of welfare is forty-seven percent higher than citizen use. And immigrant participagion in the supplemental security income program which provides cash benefits for the blind disabled and low income elderly is a sta ggering seventy six percent higher than our own citizensRead MoreThe Psalms Essay examples601 Words   |  3 Pageswho is attributed to writing Seventy Three of the Psalms. Asaph was the music director during the reigns of David and Solomon. He wrote twelve psalms. They wrote twelve psalms. Solomon is the Author of two of the Psalms. He composed Psalm Seventy-two and Psalm One Hundred and Twenty-Seven. Heman a singer in the time of Asaph and David wrote the Eighty-Eighth Psalm. Ethan was a companion of Asaph and Heman in the worship at the temple. He wrote the Eighty-Ninth Psalm. Fourty-Eight of the PsalmsRead MoreWalt Disney s Theme Park1440 Words   |  6 PagesCritter Country, New Orleans Square and Adventureland. Disneyland has a total of fifty-four attractions. Famous attractions include the Mad Tea Party, Sleeping Beauty Castle Walkthrough and Splash Mountain. Moreover, Disneyland Anaheim has thirty-seven restaurants both quick service and table service. Quick service provide options such as, Pretzel carts and Churro carts. Table service provides options such as, the Blue Bayou Restaurant and the River Belle Terrace. In addition, the restaurants serveRead MoreEssay about Mt. St. Helen814 Words   |  4 Pagesnineteen eighty. The eruption measured a five on the volcanic explosivity index. This is an index created by Chris Newell and Steven Self in the year nineteen eighty-two it was designed to try and measure the explosiveness of volcano eruptions to determine the value of the explosivity and qualitative observations ranging from zero to eight, eight being the most powerful eruption. The eruption that took place on May eighteenth claimed unfortunately the lives of fifty-seven people, two hundred and fiftyRead MoreSimpsons975 Words   |  4 Pages(In Words) five hundred eighty seven thousand, three hundred twentyone five million three hundred seventy eight thousand two hundred thir 5780321 5807123 five million sevenhundred eightythousand threehundred twentyon five million eight hundred five thousand onehundred twentythree 2. Rearrange these numbers in order of size, starting with the smallest and ending with the largest, in both digit form and in words. †¢ †¢ †¢ †¢ Six million, one hundred and twenty two Seven hundred and twenty sixRead MoreThe United States Constitution And The Declaration Of Independence1288 Words   |  6 Pagestypes of local governments which are the county, town, township, city, borough, and finally school district. As of 2005, Pennsylvania had sixty seven counties, one thousand eighteen municipal governments, five hundred one public school districts, and one thousand eight hundred eighty five special districts. Since 2002, there has been one thousand five hundred forty six townships. Pennsylvania’s local municipalities are governed by statues. They are passed by the Pennsylvania General Assembly based onRead MoreFinancial Expectations Essay1426 Words   |  6 Pagesdollars. The second was undergraduate non-resident tuition and this was thirteen thous and, two hundred and sixty dollars. If I go to community college before I go to this college I would save thousands of dollars for this category. The third was estimated books and this was one thousand, one hundred and seventy-three dollars.The next was estimated housing which would cost fifteen thousand, one hundred forty-three dollars. You can save money in this category by living with family. My grandparents own apartmentsRead MoreTexting While Driving, Deadly Or Not?1416 Words   |  6 Pagestalking or using other apps on their phones while driving , then there would be fewer accidents. The number of teens dying from being injured has skyrocketed as a result of texting while driving. It is estimated that there are over three thousand teen deaths and three hundred thousand injuries nationwide. A recent study by the Virginia Tech Transportation Institute showed that drivers who are texting are two times more likely to crash or almost crash compared to those who are focused on th e road. There