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The Central Texas Regenerative Age now dawns.
Signs abound! The Eagle and Vulture fly together in the same Hill Country canyons. The Sacred Wedding of Llanoan Man and Lady Balcones irrevocably approaches. All the arrangements have been made. All the children of The Land are invited. All is forgiven us. Let us plunder, pillage, and pollute no more! Come. Let us Restore! Let us honor our Heavenly Father and Earthly Mother in peace and joy – for Earth is filled with Heaven!
All the prophesies are realized. The Word of Creative Intent has fulfilled His purposes. The Wisdom of Faithful Guidance has attained Her day. They do not return void, but achieve that for which they have come. The total and complete victory of Light, Love, and Life is assured. The Promise is Hermetically Sealed and cannot be lost. All is won for the sake of The Earth. Rejoice and Give Thanks! The Outpouring of Spirit has broken through.
And so it begins… Even the Elemental Realms are eager with knowing. The red-tailed hawks now soar with new delight for a new Air. The bobcats are on Fire with the fervor. The bass and trout leap, flip, and spin in anticipation of clear Water. The white-tailed deer prance a brand new Earth dance! The Shamans have seen. The Ancestors too, smile as they gaze upon The Quickening. The Land has already spoken to them all. "It is time", She has decreed, "and My children will now, again, honor and serve Me". All the hidden realms of the Hill Country and Blackland Prairie anxiously await The Anointings of the Sons and Daughters of The New Earth.
Even now, Baptismal Initiations, solemn and joyous, transpire in the Secret Womb of the Great Aquifer. The ranks of Servants of the Rose vastly increase as the Hour of Blossoming draws near. Platoons of Angels descend and emerge – yearning to be asked of their help. The River of Healing and Rejuvenation fills the Seven Lakes – cleansing the Highland Chakras. The Springs of Life gush anew. Pilgrims to the Granite Rock of Enchantment are forever Transfigured. Orders for Service are gifted. The Oil of Gladness seeps from Limestone everywhere. The Oaks and Cypress stand sentry – poised for this Wondrous Revealing…We are Change. We are The Ones. We have all broken with Communion. We have all harmed The Earth. Still, She calls to Her children in Love. "Come forward in Grace. From Above, you will be given everything needed to serve. Return to my Bountiful Garden." Let us no longer judge one another. Let us humble ourselves and listen to The Land that we may further Awaken. Let us bow down still lower for a greater Anointing – that we may truly Activate and take up the S.W.O.R.D. of The Great Transition. Let us Ascend even higher with this New Earth.
If you assist in our efforts…


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A Writer's Guide to Staying out of the Rejection Pile
by Noah
Simon & Schuster
Pub Date: January
Format: Trade
Paperback original
Brief Description
A national bestseller, reaching
#9 on Amazon. A practical guide for writers trying to break
into print, covering fundamental topics of writing such as characterization, setting,
pacing, progression and style. One of the few books on writing written by a working
industry professional.
(see below for Full Description)
"Intelligent, important, valuable and entertaining instructions.... It should be read
by all novice writers--and by those whose books are already published but intend to write
--Richard Marek
Former Editorial Director of Kirkus Reviews
of Silence of the Lambs
"I read THE FIRST FIVE PAGES in two sittings (and plan to read it
again). I own about 100 books on craft including the Writer's Digest series
and Scott Meredith's WRITING TO SELL. In my opinion, yours ranks among the
--Cathy Atherton
One Woman's Writing
[one of Writer's
Digest 101 Best Web-Sites for
"I had a look at THE FIRST
FIVE PAGES and will be glad to promote it widely; wonderful advice. In
fact, I've already plugged it, at a science fiction writing convention
last weekend. I was amazed reading it....if I'd wanted to write a book on
critiquing, this is the one I would have written. Good job!"
--Andrew Burt, Ph.D.
Critters Internet Writers' Workshop
[one of Writer's
Digest 101 Best Web-Sites for Writers]
and amateur writers alike will benefit from literary agent Lukeman's
lucid advice in this handy, inexpensive little book. Carrying the craft
of writing beyond Strunk and White's classic Elements of Style,
this book should find a wide audience: public libraries sponsoring
writers' groups and workshops will want multiple copies."
Highly Recommended
Library Journal
"I have to tell you, [The First Five
Pages] is one of the best [books] I've read. I've written (and
seen published) pretty close to a dozen novels in as many years… but I
wish I had read Lukeman's book when I began writing fiction. I'm
glad I did now. It has helped, immediately….Lukeman's editorial eye
is sharp. If every novelist and short story writer in this country had
Lukeman as an editor, we'd have a lot more readable prose out
there.… The First Five Pages should be on every writer's
shelf. This is the real thing."
--Barnes & Noble Writers Workshop
"The difference between The First Five
Pages and most books on writing is that the others are written by
teachers and writers. This one comes from a literary agent--one whose
clients include Pulitzer Prize nominees, New York Times bestselling
authors, Pushcart Prize recipients, and American Book Award winners….
Lukeman has plenty of solid advice worth listening to. Particularly fine
are his exercises for removing and spicing up modifiers and his remedies
for all kinds of faulty dialogue."
--Amazon.com (featured book)
"The First Five Pages is most
useful in its guidance on preparing and submitting your work. Lukeman
grinds his teeth over amateurish writing, too, and offers practical
--Detroit Free Press
"Here are two books about the craft of
writing which, in our opinion, far surpass most books on that
subject....The one that appealed more strongly to this reader (and
closet writer) is literary agent Noah Lukeman's The First Five
--Taconic Syndicated Newspapers
("Must Reads")
"Tricks of the trade…add to The First
Five Pages' value, as do tips on grammar, style, voice and dialog,
and writing exercises…A bargain when you consider all the information
packed into [it]."
--San Antonio Express-News
"Noah Lukeman has compiled the ultimate
writer's guide to staying out of the rejection pile.….This is no
ordinary writing book. Lukeman has stared at thousands of manuscripts,
and he can pick out poor ones with a glance….Lukeman has done a great
service to the writing community by providing this glimpse into the
abyss…. The First Five Pages is worth its weight in gold, and
should be read by all experienced and unpublished authors."
[one of Writer's Digest's 101 Best Sites for Writers]
"Lukeman's book is a gutsy
reminder.…New writers will pore over his exercises in detail, while
more skilled writers will use them to throw new light on specific
problem areas….Lukeman is in fact offering a much larger opportunity
to any writer who wants to seize it….It's an excellent book and at
such a reasonable price it's also a great investment."
[one of Writer's Digest's 101 Best Sites for Writers]
"Wonderful advice….I was amazed
reading it…I was terribly impressed….The book neatly describes the
majority of what I personally find wrong with beginners' (even much
professional) writing….The title is from the widely practiced, but
perhaps not as widely known, concept that you only have the first few
pages to make an impression….This is the book to read….I agree with
him so much, and like it so well, my only regret is that I didn't
write it myself."
[one of Writer's Digest's 101 Best Sites for Writers]
"In the world of writers' how-to
books, you are often confronted with hyperbole and rash promises when
what you need is practicality and frank advice. With Lukeman, a veteran
literary agent, you get just what you need…Sensible (occasionally
unorthodox) solutions and apt quotes are offered...Lukeman is
unflinchingly realistic, but compassionate as well. He recognizes the
determination and devotion that writing requires. Pragmatic, intelligent
and readable, The First Five Pages …will certainly help writers
of any kind defeat rejection and possibly score."
[one of Writer's Digest's 101 Best Sites for Writers]
"Lukeman knows the publishing
industry from the inside out and the outside in.… The First Five
Pages is an entertaining example of good literary style delivered by
a qualified expert on selling or not selling books to publishers."
[one of Writer's Digest's 101 Best Sites for Writers]
"When you read The First Five
Pages, you'll hope Noah Lukeman will one day teach us more. …I
don't usually praise books on writer's craft on my site…but The
First Five Pages is exceptional… I read The First Five Pages
in two sittings (and plan to read it again). I own about 100 books on
craft…In my opinion, yours ranks among the best."
[one of Writer's Digest's 101 Best Sites for Writers]
"A small book in size only, this one
is well worth the price. I read every page the day I bought it, then
immediately started rewriting the first three pages of my novel.…I
highly recommend this book for writers who hope to publish and will deal
with editors and agents."
--The Writer's Roost
"Noah Lukeman has great insight into
what it takes to keep an editor reading your manuscript. Writers will
definitely benefit from a thorough study of Lukeman's many suggestions
which can help them get past the first hurdle to getting
"Mr. Lukeman has written a
definitive handbook on the pitfalls to avoid in your work..…The
information contained within its covers will help you improve your
technique and perhaps provide you with the tools to make your story leap
off the pages. As writer, I found this book to be extremely useful….I
highly recommend The First Five Pages to anyone who is serious
about their writing."
Planet Showbiz (Featured selection)
"In this well-organized, clear and
pointed guide, Lukeman - himself a literary agent who has evaluated
thousands of scripts - details how to quickly create a positive first
impression and keep out of the reject pile. With exercises at the end of
each chapter, this invaluable reference will help all types of
writers-novelists, journalists, even poets-improve their technique,
overcome bad writing and attract attention."
--The Writers Store
"There are hundreds of good books
that explain how to write. Noah Lukeman's The First Five Pages
is different. Lukeman's approach is methodical and practical,
beginning with presentation and working through common blunders with
modifiers, style, dialogue, point of view, characters, tone, focus and
pacing..... Let's hope for a sequel..... The First Five Pages
is an excellent resource that writers should keep on their shelves. The
chapters on repairing dialogue (including "informative,"
"commonplace," "melodramatic" and "hard to
follow") are especially fine, full of insights that I haven't
seen elsewhere….And even though his task is to explain all the things
that writers do wrong, it's clear that Lukeman genuinely likes us and
understands what makes us keep writing, even in the face of repeated
"If you write fiction, this one is a
must! Lukeman works his way from the most obvious to the most subtle,
telling just what agents look for to give them an excuse to reject your
"[The First Five Pages] is a
dandy little writing manual that serves as an excellent checklist of a
manuscript's health….It will give you new eyes with which to view
your book. ..This book is a gold mine for the fledgling
writer….Lukeman not only details what should and shouldn't be done,
but often explains why. Having identified the problems, he offers
solutions and provides numerous examples and end-of-chapter exercises to
assist in working on weak points. There is an vast scope of information
in these pages, and in addition to being extremely helpful, it's a fun
"The First Five Pages by Noah Lukeman is a thin little book that packs a wallop. In my dream of dreams, every aspiring writer would read it not once, but multiple times. Like Strunk and White's Elements of Style, the information contained in Lukeman's 197 page "how to write" book is too much to remember through one reading, but invaluable to every working writer. His literary agent perspective provides a unique view from the other side of the writing fence; one we may not like hearing, but information we can use to our advantages."
--Reviewed by Kimberly K. Comeau, PC Quill
Full Description
you are a novice writer or a veteran who has already had your work
published, rejection is often a frustrating reality. Literary agents and
editors receive and reject hundreds of manuscripts each month. While
it's the job of these publishing professionals to be discriminating,
it's the job of the writer to produce a manuscript that immediately
stands out among the vast competition. And those outstanding qualities,
says New York literary agent Noah Lukeman, have to be apparent from the
first five pages.
The First Five Pages reveals
the necessary elements of good writing, whether it be fiction,
nonfiction, journalism, or poetry, and points out errors to be avoided,
such as
* A weak opening hook
* Overuse of adjectives and adverbs
* Flat or forced metaphors or similes
* Melodramatic, commonplace or confusing dialogue
* Undeveloped characterizations and lifeless settings
* Uneven pacing and lack of progression
With exercises at the end of each chapter, this invaluable reference
will allow novelists, journalists, poets and screenwriters alike to
improve their technique as they learn to eliminate even the most subtle
mistakes that are cause for rejection. The First Five Pages will help
writers at every stage take their art to a higher -- and more successful
-- level.
Poets & Writers
The Writer (3 times)
Sales: UK (Robert Hale Ltd)
Rights: Contact Lukeman
Dramatic Rights:
Contact Lukeman
click the
"Back" button on your browser to return

subset: commoncrawl


text:
30 days full return Shipping from DKK 39,-
French horn in Bb made specifically for children
Material: Goldbrass, brass and nickel silver Weight: 1,75kg
Used single horn in B-flat with F attachment and stop valve.Incl. case.
Yamaha single horn in F. Model YHR-314II
Bore: 12mm (0.472")Bell: Fixed, mediumIncludes: Mouthpiece and case
Yamaha Bb enkelthorn. Model YHR-322 med A-stop
Bore: 12mm (0.472")Bell: Fixed, 12 1/8" mediumIncludes: Mouthpiece and case
Single horn in B-flat with 3 rotary valves and 3B linkage system.
Single horn in F with 3 rotary valves. Undetachable bell.
Single horn in B-flat. Model 3702-L with undetachable bell.
Used Conn double horn, model 28DThis fantastic instruments condition is as new.Including case.
Yamaha F/Bb double horn. Model YHR-567
Bore: 12mm (0.472")Bell: Fixed, medium throatIncludes: Mouthpiece and case
Et af de mest velkendte dobbelthorn fra tyske Hans Hoyer. Denne model er med afskrueligt klangstykke.
Yamaha double horn in F/Bb. Model YHR-668II
Bore: 12mm (0.472")Bell: Fixed, medium/large throatIncludes: Mouthpiece and case
Yamaha double horn in F/Bb. Model YHR-668DII
Bore: 12mm (0.472")Bell: Detachable, medium/large throatIncludes: Mouthpiece and case


text:
Wednesday, June 16, 2010
Baby card
I made this card for my "cousin-in-law" Jen. When we have our Stampin Up club party on Saturday, we are doing a baby shower for her. And we get to see Kenzie Lynn too (the baby)! :)
The paper for this card is all from CTMH; accents are ribbon, pearls and liquid glass.
Posted by Margarita Ybarra at 6/16/2010 07:08:00 PM
Subscribe to: Post Comments (Atom)


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The Spanish Ham Master Channel
We had already mentioned it. We were working on a very motivating project and, finally, we start filming this week! Our Spanish Ham Master Channel comes to light and starts taking its first steps.
We are going to start with a first session of seven episodes. What a challenge! We are going to need all your support so this gets the go ahead.
Why are we setting up this channel? I could say it's been a petition from the audience… Spanish Ham Master has travelled to many cities, to many towns and small villages in different countries passing on the Best of our culture, our Best products. We've made good friends all over the world and we've made a long list of "Jamón Lovers", which is what gets us so excited! These Jamón Lovers send us their doubts not only about Jamón but also about knives, jamoneros, wine, jamón recipes, different products to make a typical Spanish meal… and all this has made us think about setting up this channel. It will basically provide all this information and more to our followers all over the world.
Each episode will be filmed in English, since it is the most commercial language and we will get to more people. Each episode will last between five and fifteen minutes, depending on the topic… we want them to be entertaining, part of our daily life, but also a training session to help us promote our culture and the high value of Spanish products. We are food and tradition lovers, defenders of our products and increasingly proud of representing our MARCA ESPAÑA.
We'd like to introduce new products, to teach how to enjoy them, to give our view of each of them and express our modest opinion. We'll visit restaurants, factories, our country and we'll learn about each product, its history!
We'll provide training sessions about how to use a good knife, how to sharpen it, how to place the jamón in a jamonero in order to carve it properly… we'll see the differences between different products so we can learn everything about our traditions!
We'll continue with the support and knowledge of well-known Spanish chefs; we'll visit the kitchens not only of Spanish restaurants but also other types of restaurants that are introducing our products in their menus. We'll make recipes with them; we'll fuse our gastronomy with ideas from other cuisines.
We'll get our Jamón closer to the world of sport, to the sports nutrition, to sport events, to the motoring world… we'll go to the races… there is a new world waiting for us and we are ready to conquer it!
That's why we would like to ask for your help here. You can send us some ideas, requests, questions… we'd like you to experience the world of jamón with the same passion we do!!! Let's enjoy the JAMÓN!!!
If you or your company are interested in speaking further regarding your product and/or us visiting your factory or if you believe that you could be a good sponsor for our channel, please feel free to contact us at:


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Which course should i choose being a girl = Civil Engineering or Chemical Engineering?
Which course should i choose being a girl = Civil Engineering or Chemical Engineering?
More Jobs Related Questions:
- Which is the best branch in B.E to get job and placement in future?
- Whether Civil Engineering is best or Instrumentation Engineering?
- Which stream can i get in MSIT?
- Can i do M.Tech after completing Bachelor's degree in Electronics?
- Can i be an Engineer if i opt for Science in 11th?
- Which country will be best for me to pursue higher education after BE in Civil Engineering?
- Job vacancies in Chemical Engineering field? What is the starting salary offered? Whether a female candidate is eligible for Chemical Engineering jobs or not?
- Suggest about where to apply for core chemical engineering sector jobs?
- Which specialization should i take in Civil Engineering course?
- In which field i can have a good future?
Obviously civil engineering is far better for you since chemical engineers may have to work inside plants/factories but due to rules females cannot work during night.If you choose civil engineering then you can start your own consulting company and there will be no need to go anywhere for jobs.Here are some colleges for civil engineering-

IITs-These are the best institutes in India for engineering but there is a great competition to get admission in these colleges so be prepared for tough exam.

NITs-These are considered to be best institutes after IITs

BITs-Due to strict rule in admission and quality of admitted students it is famous in India

VIT university

Lovely Professional university

SRM university

Jadavpur university

Anna university -all the affiliated colleges.
Hello Friend,
I would recommend you to do Civil Engineering rather than Chemical Engineering. because as the chemical engineering may deals with many of Chemical Compounds and Plants and other Raw Materials which were to research on it and have to attain new Compounds.
So, In some cases it will be difficult to Maintain but many females were Interested to take career and there were lot females were evolved in this field who running their career successfully.
But, In my point of view I would suggest to do Civil Engineering. As the Course provides lot of Career Opportunities with Sensible works.
Being a female In Civil Sector you may get job as:
Designing Manager
Project Manager
Training Management
Human Resources Management
Research Management etc....,
other office jobs were offered for females, In various Construction Organisations. They were dominating Males in this sector and moving forward.
So, Best of Luck for your future, Thank you.


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Posted: May 15, 2014
FINAL SCORE: Cincinnati-Clermont 4, Apprentice School 2
RECORDS: Cincinnati-Clermont 28-10, Apprentice School 28-14
LOCATION: USCAA Small College World Series – Jacksonville, IL.
SEEDINGS: Cincinnati-Clermont (1); Apprentice School (4)
IN BRIEF: The Apprentice School finished its 2014 season on Thursday as they fell 4-2 to Cincinnati-Clermont in the third place game at the USCAA Small College World Series.
- The Builders broke through for two runs in the top of the fourth as Christian Burton singled and Javier Remigio followed with a double to score pinch-runner Thomas Richardson. After a foul out, Darius Harris drew a walk and Brock Harris reached on an error to score pinch-runner Thomas Dudley for a 2-0 lead.
- Cincinnati-Clermont answered with a pair in the bottom of the fourth on a sacrifice fly from Dayton Rausch and a pinch-hit RBI single from Tyler Simmons to tie the game 2-2.
- In the bottom of the fifth, the Cougars got two more runs on a bases loaded walk to Trevor Cunningham and a bases loaded hit-by-pitch to Mike Gastrich.
- Three Builders had a hit apiece as Chris Aldridge joined Remigio and Burton with a base hit apiece.
- Sam Massie took the loss throwing 0.2 innings of relief from starter Kyle Clark. He allowed four hits and two runs.
- Cincinnati-Clermont only had five hits as five different players had one hit each behind a complete game performance of Everett Osborne. HE threw seven innings and walked three with two strikeouts.
A few single-season standouts for the Builders included:
- Chris Aldridge with 65 hits to finish sixth on the single-season list, while his .358 career batting average is ninth best in school history. He had 227 hits for his career to finish second on that list.
- Brock Harris drew a team-high 33 walks to finish tied for fourth in the single-season list.
- As a pitching staff, the season-ending 3.21 earned run average was fourth best on the single-season list.


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Johnny Simmons and Amy Landecker star in the film, out now
Rooney frontman Robert Schwartzman's directorial debut was originally going to be titled Motherf—er. It fit: That version of the film followed a young gigolo courting multiple women. In the finished product, now titled Dreamland, the main character still has an older lover, though it's less about the May-December romance and more about him finding someone who finally believes in him.
The Perks of Being a Wallflower's Johnny Simmons plays Monty, a piano player who has dreams of opening up his own bar. That's not really going anywhere, and his relationship with his girlfriend (Mr. Robot's Frankie Shaw) isn't either — and then he comes across Olivia (Transparent's Amy Landecker), a seductive married woman who immediately takes a liking to the lost Monty.
The final title borrows its name from "Meet Me Tonight in Dreamland," a song Olivia requests Monty play when they first meet at the hotel lounge where he's filling in. "It echoes what these characters are going through, because they're escaping something in their own lives together, … The idea of these two characters rendezvousing for this love affair, what they're doing is meeting in dreamland," Schwartzman tells EW.
But it wasn't always going to be that song: Schwartzman and co-writer Benjamin Font originally wrote George Gershwin's "Rhapsody in Blue" into the script, though they knew from the get-go that they wouldn't be able to nab the rights to the 1924 composition on their tight budget. So Schwartzman did some Googling and stumbled on the more affordable "Meet Me Tonight in Dreamland."
"It's so great when you make a mistake or have to solve a problem and that alternative, that solution ends up being something that makes it something entirely new and exciting," Schwartzman says.
This whole process is new and exciting to Schwartzman, who has previously only been in front of the camera in movies like cousin Sofia Coppola's The Virgin Suicides and 2001's The Princess Diaries. Although he considered acting in Dreamland, that option was short-lived. "I wanted to focus on making this movie, and I didn't want anything else to get in the way of that," he says. "This is my first go at it, so I wanted to really experience it and not find myself tangled up in it."
Schwartzman recently screened Dreamland, which first premiered at the Tribeca Film Festival, in Florida, where he said he thinks the older demographic they played to "really connected with what Olivia [Landecker's character] was going through" and the disconnect she felt from her husband.
"That's the beauty of movies in general, is you can escape your life or think about your life in a new way," he says. "What I also love in movies is when something becomes unexpected or does a slight twist on reality. To me, Dreamland balances and walks a very fine line between reality and fantasy. It's not fantasy in like, a Guillermo del Toro way, it's fantasy in a very subtle way."
Dreamland is now available via VOD and screening in both New York and Los Angeles. Watch the trailer — also featuring Schwartzman's brother, Jason, and mother, Talia Shire, along with Alan Ruck and Noël Wells — below.


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Download a Book Summary for Free!
A Proven Plan to Stop Drifting and Get the Life You Want
What if we lived each day as though it were part of a bigger picture, a plan? That's what authors Michael Hyatt and Daniel Harkavy show us how to do: to design a life with the end in mind, determining in advance the outcomes we desire and path to get there. In this step-by-step guide, they share proven principles that help readers create a simple but effective life plan so that they can get from where they are now to where they really want to be--in every area of life.
Create the Life You Want
Most people don't plan their lives, write Michael Hyatt and Daniel Harkavy, authors of Living Forward: A Proven Plan to Stop Drifting and Get the Life You Want. Instead, people drift through the years, going where circumstances take them rather than taking control.
Living Forward offers a game plan for taking control through a tool call a "Life Plan," which, as the authors explain, will answer three vital questions.
Creating a Life Plan
Whenever you make a plan, you must begin with the destination. Only by knowing where you are going can you figure out how you can best get there. For the authors, the destination of a life is one's legacy. Thus, the first question a Life Plan answers is:
How do I want to be remembered? The best way to identify your desired legacy, according to the authors, is to write your own eulogy. This rather impertinent process forces you to think about what you would like others to say about you at your funeral.
The first step, of course, is to understand who those others will be. Writing your eulogy, the authors explain, begins with identifying all of your key relationships, either by individual name or by group (e.g., my peers in the company). You then describe how you want to be remembered by each group.
What matters most to me? To help readers determine their priorities, the authors offer a tool based on what they call Life Accounts. The term is chosen for its connotation of bank accounts — that is, accounts that either have a growing balance, consistent balance or declining balance. Grouped in three concentric circles around the YOU at the center, the first three Life Accounts — spiritual, intellectual and physical — involve your relationships with yourself. The second concentric circle of three Life Accounts — marital, social and parental — involves your relationships with others. Finally, the outermost concentric circle of three Life Accounts — vocational (your job), avocational (your hobbies) and financial — concerns your output.
These are prototypical Life Accounts, but the authors emphasize that people may have different accounts and even a different number of accounts. Every individual must determine what is most important to them and, thus, create their own Life Accounts.
Whatever the specific accounts may be, "the goal is to have a positive balance in each of your Life Accounts," the authors write. The authors cite two criteria that for them are the essential components of a positive balance in a Life Account: passion, which is about enthusiasm, and progress, which concerns results. If you have one or the other but not both, your Life Account is depleted. If you have neither, that particular Life Account is severely depleted.
The next phase of the Life Plan is the actual action plan. Thus, the third question answered by the Life Plan is:
How can I get from here to where I want to be? The Life Accounts are the basic elements of this plan. For each account, the authors advocate writing a purpose statement (the overall goal, or exactly what you want to accomplish for that life account); an envisioned future (a scenario that describes the ideal state you want to reach); an inspiring quote; current reality (an honest, detailed description of the current situation); and specific commitments (what, specifically, you will do to reach your envisioned future).
The authors finish with tools and advice to help implement the plan. As the Life Plan it advocates, Living Forward is succinct, focused and clear — a vital owner's manual that helps you make sure that life is working the way it is supposed to.
Share this Book Review: Tweet
By Robert Holden, Ph.D.
View Details
By Michael Hyatt


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I also have a song for alternate historians:
And some alternate fiction:
I welcome feedback at email@example.com.
This page is hosted by GeoCities, in return for carrying their advertising they will give you a free home page much like mine. Everything on this site varies without notice, especially after I get feedback.


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After negotiations to have the Dart-owned company DECCO build a cruise berthing facility in George Town fell through, the government and Port Authority moved immediately to engage the company that placed second in the initial selection process.
In a press statement issued to the Caymanian Compass on Monday, the government said it and the Port Authority had decided to move ahead with the GLF Group/Royal Construction team to build the port.
Negotiations with DECCO apparently ended amicably.
"As negotiations ended, DECCO's commitment to assisting in the development of quality infrastructure for Cayman's future was underscored by its agreement to make the existing, completed work packages available to the Port Authority," the press release stated. "This will allow the Port Authority to progress with the project without losing time to replicate this effort…" Cline Glidden, Jr., project lead on behalf of government, expressed gratitude to DECCO.
"The Cayman Islands Government is committed to cruise tourism, and although we are disappointed that we could not reach mutually agreeable terms with DECCO, we are sincerely appreciate the efforts and investment DECCO has extended towards the national goal of improving cruise berthing facilities," he said.
Premier McKeeva Bush said he was "100 per cent supportive" of the decision.
The government said it intended to move ahead with a signing of the main agreement with GLF/Royal within 60 to 90 days, allowing it to start construction on the project during the first quarter of 2011.
GLF is an international marine construction company that will team with locally based Royal Construction, which is known for such projects as Morritt's Grand and the new George Town Library building.
"GLF and their local partner Royal Construction have assembled a credible team with many years of combined experience and expertise in developing marine related projects throughout the world and have the ability to bring the necessary financing to develop and complete the project." Mr. Glidden said.
For the full story, see the Wednesday edition of the Caymanian Compass…


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Drum roll!!! Ta-da!!! There has been much excitement over these, and now it's finally here! I have a 2 part video on these scheduled for tomorrow!
Item Code: 133479 Label Card Thinlits die 39.95€ / £29.95
Item Code: 133480 Circle Card Thinlits Die 39.95€ / £29.95
Did you know that the Happy Day Stamp Set coordinates with these? (130294 Wood Mount/ 130297 Clear Mount). Video tutorial coming out tomorrow so watch out for it!
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Browsing Cand.OECON - MSc in Advanced Economics and Finance by Year Published
Now showing items 1-20 of 43Next Page
A RAROC-based approachHoue Magnussen, Julie (Frederiksberg, 2011)[More information][Less information]
Abstract: This thesis focus on how to evaluate full load gas contracts in a way that compensates the supplier for the risky nature of the contract. A full load contract is a fixed-price contract giving the customer full flexibility regarding her gas load. This means that the supplier is exposed to spot price risk, volume risk and the risk due to the correlation between the gas spot price and the customer load, and as compensation he demands a risk premium. However, in order to withstand increased competition, prices must be calculated close to the profit frontier, which in turn calls for effective risk management procedures to ensure financial survival. We develop a consistent valuation method based on the RAROC concept and Monte Carlo simulation of the gas spot price and customer load. As an essential part of the thesis, we show how to build a stochastic model for the gas spot price and the customer load. The spot price model is calibrated such that it matches the observed term structure of forward prices. Finally, we evaluate a real-life full load contract using the RAROC-based approach and our stochastic spot price and load models. URI: http://hdl.handle.net/10417/2631
Files in this item: 1julie_houe_magnussen.pdf (2.495Mb)
Bjerrisgaard, Simon Seir; Fedoryaev, Denis (Frederiksberg, 2011)[More information][Less information]
Abstract: A coherent line of development of research focusing on modelling optimal capital structure is presented. We begin by revisiting the pricing model introduced in the seminal work of Merton (1974), which represents the fundamental building block for most capital structure models. The general partial differential equation is rederived, and it is demonstrated how it is applied to price debt and equity as contingent claims. The first stepping stone to our analysis is the static model along the lines of Leland (1994). We present comparative statics for optimally chosen everage, coupon, and default threshold as well as for tax advantage to debt, and discuss the drawbacks of the model in detail. It is evident that under our own base case parameters based on the most recent Danish data and empirical estimates which differ from unreasonably high values applied in Leland, the optimal leverage is too high compared to that observed in practice. We proceed by introducing dynamics in the model of capital structure; rather than focusing on any particular model, we outline a generalised framework to describe the overall family of existing dynamic capital structure models. The state variable is the operating income, and it is the value of a claim to the entire payout of the firm that is modelled as a stochastic process, which restores the no-arbitrage condition violated in the static model. As the leverage can be readjusted, the restructuring boundary is incorporated, stipulating when refinancing should take place, and is obtained from the smooth-pasting condition to ensure incentive compatibility. The key insight from the comparative statics analysis is that the optimal leverage drops substantially compared to that in the static model, and the default boundary is also lowered, reflecting the fact that the refinancing option, ceteris paribus, enhances the firm valuation. Further, we propose our own dynamic model which alters the cash flow process by assuming mean reversion. The vast majority of existing capital structure studies rests on the assumption that the state variable follows a geometric Brownian motion since this ensures mathematical tractability while modelling the capital structure readjustment. We argue that this underlying process due to its properties is not consistent with dynamics of the firm fundamental and that the assumption of mean reversion appears to be more suitable. Not only the latter describes the development of the real sector better, but is also reinforced by empirical evidence. Besides, by assuming that earnings follow the mean-reverting process, we obtain a better control over the process and can thus draw a much clearer distinction between the industries in terms of both profitability and stability through varying the long-term mean and the speed of mean reversion, respectively. As a matter of fact, optimal capital structure has never been modelled dynamically outside of the scope of a geometric Brownian motion, presumably due to the loss of homogeneity property. We assume the modified mean-reverting process with volatility being proportional to the current earnings level, and derive the ordinary differential equation used for pricing debt and equity. Further, using contingent claims analysis and state pricing, we prove that the new process still possesses the homogeneity property which implies that the mechanics of the model is unaltered in time. After that we describe what we call the optimal capital structure decision framework and formulate how the tuple that closes it is obtained, which fully determines the capital structure choice of the owner-manager. Extensive numerical simulations are conducted, with explicit focus on numerical algorithms and their shortcomings. We bring together the key optimal capital structure frameworks and carry out a cross-model comparison to uncover the implications that different assumptions have for the results. When benchmarking our model against the static mean-reverting model of Sarkar and Zapatero (2003), we find lower optimal leverage and optimal coupon. If compared to the conventional dynamic GBM-based model, our model suggests lower optimal leverage and higher restructuring frequency, stipulated by the difference in expectations of equity holders regarding the future development of cash flow under the two processes. This relationship is even more pronounced if we correct for the finiteness of the stationary variance of the mean-reverting process. Overall, given reasonable assumptions for base case parameters, the optimal leverage in our model is found to be closer to the empirical regularities than that in the existing models. All relationships are studied through the prism of mean reversion, and it is shown that the speed of earnings convergence and the long-term mean value of earnings are indeed important parameters as their impact on the key variables could be rather substantial. Finally, we extend the analysis by modifying the GBM-based model to take into account fixed operating costs, so that the resulting cash flow is not bounded at zero. We demonstrate that higher operating leverage implies lower financial leverage, and find that when the firm is allowed to have negative cash inflow, it will be less levered compared to an otherwise identical firm whose earnings are instead mean-reverting but always positive. Further, we incorporate a call premium in the dynamic model with mean reversion and show that assuming debt being callable at par may lead to somewhat understated leverage and too high restructuring frequency. URI: http://hdl.handle.net/10417/2632
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Dahle, Eirik; Drachmann, Joachim (Frederiksberg, 2011)[More information][Less information]
Abstract: The purpose of this study was to investigate the problem facing institutional investors when forming their dynamic asset allocation strategy. Allowing investors to rebalance their portfolios intertemporally can be seen as an expansion of their opportunity sets, thus making more interesting portfolio strategies available relative to static frameworks. However, to induce optimality of rebalancing it is essential that the investors regard their investment opportunity set as time-varying and thereby potentially predictable. To analyze the implications of such investment dynamics the first objective of the thesis was to develop a framework which allows for a tractable solution and simple empirical implementation. Knowing the familiar issue of extreme portfolio weights resulting from such models, the second objective was to present an extension facilitating applicability for practitioners. This was done by employing the Kalman filter to decrease the investor's confidence in the signals driving her allocations. The study took its theoretical grounding in the dynamic asset allocation model originally developed by Campbell et al. (2003), but applied the specific setup from Sørensen and Trolle (2010). As such, the model is based on an approximation of portfolio returns in order to yield a closed-form solution. To implement this framework, the investment dynamics were assumed to be described by a first-order vector autoregression, where the state variables were the result of a Top-down model selection analysis. The resulting portfolio strategy showed that the investor was aggressively timing the market making her portfolio rebalancing highly dependent on the state variable dynamics. In particular, excess stock returns were found to be predicted primarily by the dividend-price ratio, whereas the yield-spread was the main predictor of excess bond returns. Further, the study was able to confirm and explain the well-known horizon effect where investors tend to increase their stock holdings for longer investment horizons as well as the increasing stock allocation for more risk tolerant investors. Finally, the thesis showed the benefits of generalizing the simple model using the Kalman filter. The optimal portfolio strategy resulting from the extended setup had a greatly reduced allocation variability as the investor became more reluctant to adapt her market view to new information. Based on these findings the study concluded that dynamic asset allocation modeling is an interesting opportunity for institutional investors and that the generalized model presented herein can be seen as one potential way to make such models practically feasible. URI: http://hdl.handle.net/10417/2629
Files in this item: 1eirik_dahle_og_joachim_drachmann.pdf (4.388Mb)
Makienko, Roman (Frederiksberg, 2011)[More information][Less information]
Abstract: In this paper I analyze two types of financial intermediaries that finance entrepreneurial firms: Banks and Venture Capital firms. The core of this work is a new mathematical model that explains why Venture Capital firms focus on financing high-risk firms with high growth potential in knowledge-intensive, high-tech industries. And why Banks, on the other hand, tend to be more conservative and focus exclusively on low-risk, stable, more mature firms. In my model an endowed financial intermediary has a choice to structure either as a Bank or a Venture Capital firm. The advantage of structuring as a Bank is the higher monitoring effort the intermediary will exert when monitoring her investment portfolio. This benefit comes from the fact that Banks are financed by short-term demand deposits and are prone to bank runs if their claim holders observe a deteriorating performance. The advantage of structuring as a VC is the fact that this type of intermediary is not subject to bank runs because it is financed by long-term depositors. This long-term financial structure leads to lower monitoring effort on part of the Venture Capital firm, but the risk of inefficient liquidation is nonexistent. This trade-off drives the intermediary's choice. The results of my work state that intermediaries presented with low-risk investment projects will structure as Banks and intermediaries presented with high-risk ones will structure as Venture Capital firms. At high levels of risk the benefit of increased monitoring effort is simply overshadowed by the increased chance of inefficient liquidation. URI: http://hdl.handle.net/10417/2928
Files in this item: 1roman_makienko.pdf (934.7Kb)
Christoffersen, Peter (Frederiksberg, 2011)[More information][Less information]
Abstract: This thesis investigates the effectiveness of various incentive schemes in terms of their ability to reduce the moral hazard problem faced between Principals with asymmetric information. By setting the standard static Budget as a benchmark: Stock Options, Dynamic target setting models, Balanced Scorecards and WACC based performance metrics are evaluated in terms of their relative ability to mitigate the weaknesses induced from: external noise, accounting manipulation, limited duration and risk adverseness costs. Stock Options were found to be the weakest performance drivers due to their strong influence from external factors. By using OLS the external noise was estimated to be significantly higher than that of the traditional static budget. Further to that Stock Options opened up for new kinds of accounting complexity which does not exist if internal account are used. Dynamic targets were found to be more efficient than both the Budget and Stock Options since the regression equation could be used to eliminate a high degree of external noise and thus allow for a better estimation of the performance of the Agent. Overall this model was found to be optimal since the level of complexity added was considered relative low. A model was made which allowed the balanced scorecard to be translated into a structure comparative to that of an option – or more precisely a portfolio of options. It was concluded that by the use of the Balanced Scorecard, combined with dynamic targets, the highest degree of mitigation could be achieved, although this would then come with a relatively high price in terms of added complexity and additional cost to the incentive program. Due to the same complexity argument WACC based performance metrics were in general not seen as optimal performance drivers. URI: http://hdl.handle.net/10417/2929
Files in this item: 1peter_christoffersen.pdf (2.977Mb)
Barola, Alberto (Frederiksberg, 2013)[More information][Less information]
Abstract: The Monte Carlo approach has proved to be a valuable and flexible computational tool in modern finance. A number of Monte Carlo simulation-based methods have been developed within the past years to address the American option pricing problem. The aim of this thesis is to present and analyze three famous simulation algorithms for pricing American style derivatives: the stochastic tree; the stochastic mesh and the least squares method (LSM). We first present the mathematical descriptions underlying these numerical methods. We then proceed to analyze the impact of efficiency enhancement and variance reduction techniques on the algorithms performance. At the end we test the selected methods on a common set of problems in order to be able to assess the strengths and weaknesses of each approach as a function of the problem characteristics. The results are compared and discussed on the basis of estimates precision and computation time. Overall the simulation framework seems to work considerably well in valuing American style derivative securities. When multi-dimensional problems are considered, simulation based methods seem to be the best solution to estimate prices since the general numerical procedures of finite difference and binomial trees become impractical in these specific situations. URI: http://hdl.handle.net/10417/3635
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A Survey among Danish Portfolio CompaniesThorkilgaard, Ninni (Frederiksberg, 2012)[More information][Less information]
Abstract: The objective of this thesis is to determine drivers of value creation under private equity ownership by gaining an understanding of the theoretical tools private equity firms use to create return on their investments and comparing them with an empirical examination among Chief Executive Officers (CEOs) in Danish private equity owned companies. The thesis takes a qualitative approach in determining value creation under private equity ownership and a questionnaire is therefore designed and targeted CEOs in Danish companies acquired by a private equity fund during the period 2004-2007, requesting the managers to rate the relative importance of theoretical levers for value creation in their companies while under private equity ownership. The results show that corporate governance under private equity ownership lowers the agency costs as the incentive packages offered solves the principal-agency problems related to moral hazard, though there is a downside to the strong incentives if they come at a cost for unincentivized tasks. Financial engineering in terms of designing optimal capital structures has in contrast to expectations a negative impact on value creation. Hence, the capital structure may not have been optimal in the light of the financial crisis and the following slow-down in the economy. Consistent with theory, lowering the costs of free cash flow available for spending at the discretion of management through optimization of free cash flow and capital expenditures have a positive impact on value creation. Active ownership and operational partner has a negative impact most likely because fund managers spent relatively more time on the low performing companies within their portfolio. There is a tendency that these areas are influenced by a psychological bias as the CEOs feel responsible for operational initiatives if they prove to be successful and on the other hand put more of the responsibility on the fund when the results are not achieved. A holding period of 5 years is found to maximize the value as years of ownership has a positive influence up until this point. The relative importance measures of the value drivers indicate that it is the combination of the value drivers which are important in value creation and the combined effects of the private equity model from a social perspective are beneficial if direct value creation up weights potentially negative externalities of redistribution. URI: http://hdl.handle.net/10417/3633
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Celic, Marko (Frederiksberg, 2012)[More information][Less information]
Abstract: This paper contributes to the literature analysing the empirical relationship between CDS spreads and bond yields. In theory, the prices of these assets are linked through an arbitrage relationship. The paper employs a sample of 32 companies covering the period from the beginning of 2010 until the end of 2011 obtained from the publicly available data sources Bloomberg and Datastream. It then creates artificial 5-year bond yields by linear interpolation and estimates the basis spread, which should be zero if the arbitrage relationship holds perfectly. Subsequently, several econometric concepts are employed to investigate the relationship between the series, including cointegration analysis, Granger-causality, half-life of deviations and price discovery measures. Several findings emerge. In contrast to previous researchers, this paper finds that yields on government bonds serve as better proxy for the risk-free rate instead of the swap rates. Increased overall risk in the financial sector after the financial crisis and especially in European institutions during the European sovereign debt crisis is a potential explanation for this result. In line with previous research, the paper finds that the arbitrage relationship holds reasonably well on a medium- to long-term perspective. In the short-term however, the spreads can move away significantly from their equilibrium values. Additionally, there are a few exceptional cases which constantly show large non-zero basis spreads and constitute mainly financial institutions. Furthermore, several differences emerge when grouping companies by rating, country and distinguishing between financial and non-financial companies. Additionally, in line with previous research, CDS markets seem to lead bond markets. However, this relationship weakens for lower graded entities and reverses during times of crisis. Two theories might explain this finding. First, trading in investment-grade bonds might increase during times of crisis, such that bond prices provide more information. Second, increased counterparty risk inherent in CDS might disturb CDS spreads such that the information value of CDS prices is decreased. From a technical point of view, this paper argues for employing the Schwarz Bayesian Criterion in contrast to the widely used Akaike Information Criterion for cointegration analysis, because the latter tends to have superior properties in this context. Furthermore, weekly instead of daily observations seem to be more appropriate for cointegration analysis, because of less microstructural noise. URI: http://hdl.handle.net/10417/3636
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Doshchyn, Artur; Giommetti, Nicola (Frederiksberg, 2013)[More information][Less information]
Abstract: We show that business cycles can emerge and proliferate endogenously in the economy due to the way economic agents learn, form their expectations, and make decisions regarding savings and production for future periods. There are no exogenous shocks of any kind to productivity or any other fundamental parameters of the economy, in contrast to Real Business Cycle models. To our knowledge this thesis is the first attempt to formally introduce adaptive learning and expectation errors as an autonomous source of endogenous business cycles. We develop a simple, growth-less macroeconomic model, in which agents do not have perfect foresight, learn adaptively to form expectations, and solve limited inter-temporal optimization models. The theoretical possibility of cycles largely arises from the nonlinearity of the actual law of motion of price, in particular from the fact that agents always overpredict (underpredict) future prices when they are higher (lower) than equilibrium level. Even though the main version of the model is based on households having a simple logarithmic utility function, we also show that the results hold when a more generic Hyperbolic Absolute Risk Aversion utility function is chosen. Money stock is neutral in the long run in either case. We conduct simulations in models with agents having both simple logarithmic and HARA utility functions. Following Thomas Sargent (1993), we assume agents to be "rational econometricians" using various econometric adaptive learning tools: Auto ARIMA, VAR and AR(2) models. In all simulations, output and other economic variables indeed display cyclical fluctuations around their equilibrium levels. Both converging and diverging cycles may be obtained in simulations with Auto ARIMA models, while the VAR learning tool leads to diverging fluctuations in the majority of cases, suggesting that making agents consider several variables increases instability, at least in our setting. It is also observed that higher frequency of model switching is usually accompanied with increasing amplitude of cycles, suggesting the hypothesis that economic crises may happen when agents make drastic revisions of their beliefs about how the economy works. Only converging cycles can be obtained with AR(2), however in this case the economy may get trapped in a so called "false equilibrium", with output way below or above the true equilibrium level. Even though this is not formally an equilibrium, the convergence towards the true one is so slow that exogenous shocks may be needed to move the economy back on track. This result is in line with the Keynesian view that the economy may remain in a depressed state for quite a long period of time, and active government intervention may be required to speed up the recovery. Within the developed framework we analyze whether active monetary policy (i.e. changes in money stock) can be used for stabilization purposes. It turns out that in the simple case, when agents have logarithmic utility function, shifts in money supply can have real effects on the economy only if they are unexpected by agents, or if future price expectations are not adjusted exactly proportionally to the announced monetary interventions. We also show that the second case is not sustainable within the adaptive learning environment, so that monetary policy may become ineffective in the long run when, and if, learning is complete. We prove, however, that monetary interventions always have real effects in the short run in the setting with a more generic HARA utility function. Still, it is highly questionable whether the central bank is able to accurately assess the consequences of its own actions, as that would require it knowing precisely the actual law of motion of the economy, current market's expectations, and agents' reaction to news about the upcoming monetary interventions, which, moreover, can change over time. URI: http://hdl.handle.net/10417/3873
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An Econometric Approach to assess Determinants of Individual Well-Being and Robustness of GDP as a measure of Aggregate WelfareAmbrosini, Bianca; Zanaldi, Roberto (Frederiksberg, 2011)[More information][Less information]
Abstract: Following the extensive literature showing that GDP lacks in incorporating several aspects of human life that influence individual well-being and thus the aggregate country welfare, this research contributes specifically to enrich the studies based on a subjective approach. The analysis starts by presenting a latent regression model in which individuals are assumed to derive their well-being, represented by life satisfaction, from a set of personal and country variables. By means of the integrated WVS-EVS, a multi-temporal and worldwide dataset with more than 300,000 observations of subjective measure of well-being, this research sheds light on the relations between determinants of well-being and life satisfaction. These relations are estimated through an ordered probit model. There are two main findings of the research: first, consumption, wealth, health, environment, inequality, leisure time, country growth, education and unemployment contribute to shape the welfare differently according to macroareas; second, when predicted values of the ordered probit are compared with GDP, it is proven that GDP is not a robust measure to rank countries according to individuals' subjective well-being. This research ends with proposing an innovative method to rank countries according to the probability of their citizens being satisfied with their life. URI: http://hdl.handle.net/10417/3882
Files in this item: 1roberto_zanaldi_og_bianca_ambrosini.pdf (2.127Mb)
Evidence from the U.S. Nonprofit SectorRosu, Maria Oana (Frederiksberg, 2013)[More information][Less information]
Abstract: Recent scandals and disclosures of six figures salaries of nonprofit Chief Executive Officers (e.g. Kansas City University of Medicine and Biosciences, Smithsonian Institutions, Texas Southern University, United Way of America, New Era, Feed the Children) have generated significant interest in corporate governance. Hence, in the wake of these nonprofit scandals, state legislatures from several U.S. states imposed caps on nonprofit management compensation, arguing that "nonprofit executives should <<volunteer>> a portion of their compensation via discounted salaries" (Allender, Burns, Miller, 2012). Therefore reactions come from regulators and the media at the practices of lavish expenses and excessive CEO compensation in the nonprofit sector. What about the employees? How do they interpret, perceive and judge these scandals? Nonprofit organizations are known to rely disproportionally on intrinsically motivated employees, providing thus a particularly interesting context for examining the relationship between employees' attitudes and nonprofit management compensation. Based on equity / reciprocity theories and the CEO compensation literature hypotheses are developed and tested by linking the latest survey of employees' attitudes to CEO compensation and financial charity data for the largest nonprofit companies based in the U.S. Employing data from Glassdoor.com, specialized in collecting employees reviews, and Forbes.com annual reports regarding the 200 largest U.S. charities I find overall positive attitudes and appreciations, no protests or signs of critics coming from employees' side in the context of the recent events. Secondly my findings with respect to the determinants of CEO compensation relate to the previous literature. URI: http://hdl.handle.net/10417/4069
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Pereboichuk, Bogdana (Frederiksberg, 120)[More information][Less information]
Abstract: This thesis aims to find out what drives price of crude oil. Since nowadays oil is rather a financial asset than industrial good its price evolves similarly to other financial assets prices. Traditional financial approach to modeling is based on assumptions about stochastic processes which allows for capturing partly random behavior of oil price changes. Besides estimating simple stochastic models (Geometric Brownian Motion (GBM) and Mean-Reversion) which are widely used for other commodities and returns modeling, influence of unique for oil factors is also assumed and tested. A unique feature of oil market is presence of precautionary demand reflecting expectations and concerns about future need for oil. Based on the common knowledge about global significance of oil, high market power of the producers, possible political instability and also observing soundness of macroeconomic background market participants form their expectations concerning future oil necessity. If the macroeconomic background is believed to be sound – optimistic mood in the market results into high precautionary demand. At this state market is very vulnerable to any announcements, and price response is immediate and sharp. In order to capture expectations impact on oil prices stochastic modeling is extended with factors describing macroeconomic conditions through the oil price volatility channel modeled within GARCH framework. The volatility models have better forecasting accuracy on the short horizon but produce only approximated long term expectation similarly to the simple ones. Simple stochastic models for oil prices demonstrate that drift estimations are very uncertain but are more reliable for the GBM model. The main finding here is that crude oil price process has a drift, but it changes once in a while – it may be assumed constant but for shorter than sample time periods. This conclusion may also hold for the mean-reverting property even though the latter is not supported by the findings. But the main attention should be paid to diffusion term, estimation of which is on average the same for all models and methods. It has strong serial dependence not consistent with theoretical properties of stochastic processes. It is reasonable to assume that serial dependence of stochastic term can be captured by heteroscedasticity modeling. GARCH models estimated reveal that oil price volatility positively responses to bond yield spread widening and depreciation of US dollar. Asymmetric property of the volatility is also documented meaning that oil prices become more volatile in occurrence of positive rather than negative shocks (the sign of the link is positive which is opposite to expected for asset returns. Typically asset prices are falling sharply in negative shocks presence, but in case of oil it may indirectly prove the precautionary demand hypothesis through the stronger impact of optimistic atmosphere rather than pessimistic). Convenience yield has a positive direct and very strong impact on oil price which is a fundamental theoretical assumption for commodity modeling consistent with theory of storage: oil price responses positively on inventories scarcity. US dollar to British pound exchange rate influences oil price also directly and this link is more stable than that in variance. Even though the obvious indicators of macroeconomic activity did not demonstrate strong influence on oil price but they apparently are not the best measure of expectations influencing the precautionary demand. URI: http://hdl.handle.net/10417/4420
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A comparison with their domestic counterparts based on official microdata of Statistics NetherlandsBruls, Linda (Frederiksberg, 2014)[More information][Less information]
Abstract: This paper seeks to investigate whether or not foreign affiliates operating in the business economy in the Netherlands perform different from domestically controlled enterprises after important firm-specific characteristics have been controlled for. It is based on official microdata of the Foreign Affiliates Statistics (FATS) for the years 2008-2011, provided by Statistics Netherlands. A set of four different performance measures (i.e., apparent labour productivity, wage-adjusted labour productivity, wage per capita and return on sales) is first analysed in an unconditional mean comparison, and subsequently in a year-by-year crosssectional regression analysis by means of an ordinary least squares (OLS) model. In the regressions foreign affiliates are compared not only with all types of domestically controlled enterprises, but also with a matched sample of domestic firms (to attempt to address the possibility of non-random assignment of foreign control to certain enterprises) and with a control group consisting of only domestic multinational enterprises (to consider multinationality of an enterprise as the driving force behind any performance differences instead of foreignness per se). This paper demonstrates that foreign-controlled enterprises can be associated with firm performance that is different from their domestic counterparts. In particular, the analysis reveals a productivity premium for foreign affiliates in the Netherlands, finds a wage gap that is also in favour of foreign affiliates and shows that there is no significant difference between foreign affiliates and domestically controlled enterprises in terms of profitability. Furthermore, it shows that most performance gaps significantly reduce or disappear altogether when foreign affiliates are compared with only domestic multinational enterprises instead of all types of domestic firms. These results are confirmed by a random effects model in which all four cross-sections are combined into a single panel. URI: http://hdl.handle.net/10417/4453
Files in this item: 1linda_bruls.pdf (13.98Mb)
Kongsgaard, Nicklas Snekloth (Frederiksberg, 2013)[More information][Less information]
Abstract: A new branch of the real options literature examines the optimal stopping problem of an investment opportunity embedded in an ambiguous environment as opposed to traditional aleatory risk. Only few articles have been published within this emerging eld. This thesis critically reviews the existing modeling e orts speci ed by MEU, -MEU, and CEU preference relations, and nds that the current speci cations collectively fail to achieve separability of ambiguity and ambiguity preferences in a manner that is coherent with economic intuition. We show that convex combinations in the multiple priors approach aimed at integrating ambiguity attitudes yield peculiar non-monotonic preferences toward ambiguity and cannot be reconciled with dynamic consistency. We propose a speci cation that mends the shortcomings of the current literature by building on the recently developed dynamically consistent Choquet-Brownian motions. We o er an original contribution by introducing neo-additive capacities in order to obtain a proper separation of tastes and beliefs and apply the developed speci cation to the optimal stopping problem of the rm in possession of a real option to invest in order to show that the injection of ambiguity to the economy yields drastically di erent e ects on both project value and option value than under pure risk. Whereas risk increases option value through the continuation region, for an ambiguity averse rm ambiguity lowers option value both in the stopping region and the continuation region, which delays investment as well, but for critically di erent reasons. For an ambiguity loving rm, ambiguity increases option value in both regions, but does so more in the stopping region. In consequence, investment tends to be delayed by pessimistic rms and pulled forward by optimistic rms under ambiguity. Hence, the proposed model resonates in its ndings with the main results of the current literature under -MEU and CEU speci cations, while it by means of the introduction of neo-additive capacities contributes with the possibility of a re ned analysis of the role of ambiguity preferences in guiding the direction of the impact from ambiguity on real option valuation and investment timing. As a result, we provide a well-speci ed explanation of non-identical investment behavior in identical environments due to heterogeneous tastes and beliefs. URI: http://hdl.handle.net/10417/4516
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Evidence from the German Equity MarketBerg, Fabian; Nordby, Jørgen Bråten (Frederiksberg, 2013)[More information][Less information]
URI: http://hdl.handle.net/10417/4512
Files in this item: 1
A comparison with their domestic counterparts based on official microdata of Statistics NetherlandsBruls, Linda (Frederiksberg, 2014)[More information][Less information]
Abstract: This paper seeks to investigate whether or not foreign affiliates operating in the business economy in the Netherlands perform different from domestically controlled enterprises after important firm-specific characteristics have been controlled for. It is based on official microdata of the Foreign Affiliates Statistics (FATS) for the years 2008-2011, provided by Statistics Netherlands. A set of four different performance measures (i.e., apparent labour productivity, wage-adjusted labour productivity, wage per capita and return on sales) is first analysed in an unconditional mean comparison, and subsequently in a year-by-year crosssectional regression analysis by means of an ordinary least squares (OLS) model. In the regressions foreign affiliates are compared not only with all types of domestically controlled enterprises, but also with a matched sample of domestic firms (to attempt to address the possibility of non-random assignment of foreign control to certain enterprises) and with a control group consisting of only domestic multinational enterprises (to consider multinationality of an enterprise as the driving force behind any performance differences instead of foreignness per se). This paper demonstrates that foreign-controlled enterprises can be associated with firm performance that is different from their domestic counterparts. In particular, the analysis reveals a productivity premium for foreign affiliates in the Netherlands, finds a wage gap that is also in favour of foreign affiliates and shows that there is no significant difference between foreign affiliates and domestically controlled enterprises in terms of profitability. Furthermore, it shows that most performance gaps significantly reduce or disappear altogether when foreign affiliates are compared with only domestic multinational enterprises instead of all types of domestic firms. These results are confirmed by a random effects model in which all four cross-sections are combined into a single panel. URI: http://hdl.handle.net/10417/4648
Files in this item: 1linda_bruls.pdf (13.98Mb)
Hedging Gasoil Commitments in Related Futures MarketsViken, Cecilie; Thorsrud, Marianne Solem (Frederiksberg, 2013)[More information][Less information]
Abstract: The German gasoil market does not have an existent liquid futures market. In order to hedge risks in this market, other correlated markets must be used for hedging. We look at proxy hedges using both Brent crude oil futures and ARA gasoil futures, when trying to reduce spot price risks in the formerly mentioned German gasoil market. A 3-factor model is introduced, where the spot price and the convenience yield are modeled as stochastic, and the log spread between the illiquid spot price and the futures price used to hedge is modeled as a mean-reverting OU process. This model is estimated through a Kalman ltering method. When modeling the log spread as an OU-process, we implicitly assume a stationary distribution of the log spread and thereby indirectly account for a long-term cointegration relationship between the spot price being hedged and the futures price used to hedge. Di erent hedging strategies are tested on the prices that are simulated through the 3-factor model. These hedging strategies include a regression based minimum variance hedge, a parameter-based minimum variance hedge, log and quadratic utility hedges and a na ve hedge. These hedges are then compared to the strategy without any hedge. Ederington's measure of e ectiveness and Value-at-Risk are computed to check the quality of the results. We nally test our hedging strategies on a speci c case, where DONG Energy is committed to buy German gasoil in the spot market. The hedges are tested on a contract price based on the spot price of German gasoil. Our results show great e ectiveness in both markets, but ARA gasoil futures are more e ective in reducing the risks coming from the German gasoil market. We also nd that a static hedging strategy is more e ective than both static rolling and semidynamic strategies. This also holds for the case applied to DONG Energy, a large Danish energy company hedging against price risk in the German gasoil market. URI: http://hdl.handle.net/10417/4750
Files in this item: 1cecilie_viken_og_marianne_thorsrud.pdf (2.833Mb)
An Empirical Study of Vicious CirclesHaahr, Rasmus; Lyng Madsen, Philip (Frederiksberg, 2014)[More information][Less information]
Abstract: In this thesis we measure the impact of patent thickets on US firm value in the period 1980-2004. We combine patent data from NBER with firm-level financial data from Compustat, and conduct econometric fixed effects analysis on the consolidated panel dataset. We find evidence that patenting is individually rational for firms, and that rival patenting and fragmentation of patent rights are detrimental to firm value. Subsequently, we analyze two distinct datasets: one covering discrete industries such as consumer discretionary & staples, and one covering complex industries such as IT. We find that firms in discrete industries are unaffected by competitor patenting, while firms in complex industries are impeded by patenting even from firms that are not direct competitors. Our results suggest that firms in complex industries are trapped in a prisoner's dilemma, that is, a common reduction in patenting would make everyone better off. URI: http://hdl.handle.net/10417/4791
Files in this item: 1philip_lyng_madsen_og_rasmus_haahr.pdf (3.312Mb)
Haglund, Oskar (Frederiksberg, 2014)[More information][Less information]
Abstract: This thesis studies the seasonal dynamics for three energy commodities using the framework developed in Miltersen (2003). Utilizing an extension from Lange (2011), a term structure model allowing for such dynamics is implemented using a Kalman Filter and calibrated to NYMEX futures prices for natural gas, heating oil and crude oil spanning the period 1994-2014. To capture the deterministic pattern induced by the physical features of commodities, a few changes are made compared to the set-up in Lange (2011). Primarily, the seasonal functions are modeled using a linear combination of sine and a cosine functions with seasonal frequencies rather than a single sinusoidal function. The thesis begins by evaluating the pricing performance of the model, nding that it performs well in a comparison to similar commodity pricing models. When the analytical focus in the subsequent section is shifted to the dynamics of the two seasonal components pointed out in Lange (2011), it is analogously shown that the initial cost of carry structure seems to drive the seasonal pattern in the spot cost of carry. For the commodities displaying seasonality, the cost of carry display signi cant drops during periods when the relative scarcity of the commodity is elevating. The seasonal volatility patterns are on the contrary estimated with low precision and are highly unstable across time. Acknowledging the hidden character of the cost of carry, the second part of the thesis uses a linear regression framework to test for determinants of the convenience yield (transformed from the ltered cost of carry). The analysis indicate that changes in inventory levels, sum of heating and cooling degrees and hedging pressure are all important drivers of the convenience yield for seasonal commodities. Moreover, for commodities with large movements in the explanatory variables, the relationship seems to weaken when the maturity of the dependent variable is increased. Finally, the robustness of the results over a pre- nancialization and post- nancialization period is investigated. While there are some indications for a ` nancialization-e ect", an assessment is made that the subject needs further investigation. URI: http://hdl.handle.net/10417/5076
Files in this item: 1oskar_haglund.pdf (2.154Mb)
Sigurður Sveinsson, Þorsteinn (Frederiksberg, 2014)[More information][Less information]
Abstract: The thesis uses the Blanchard-Yaari model to examine the macroeconomic implications of increased longevity. The model analysis demonstrates sev- eral economic implications of increased longevity and the capacity of scal policy to respond to these economic implications. Optimal retirement age is determined under conditions of age-dependent productivity. URI: http://hdl.handle.net/10417/5073
Files in this item: 1Þorsteinn_sigurður_sveinsson.pdf (1.979Mb)
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In professional service since 1982, Winnipeg based psychic Intuitive Tarot reader Trevor provides readings by appointment in a comfortable private reading studio or online. Find more about his work and inspiration here.
Thursday, July 8, 2010
Just Around The Corner
My area of intuitive work is more on a "one on one" basis in working with people's life energies. I see a lot of issues working through in vastly different ways. Many who are approaching retirement for instance, are looking at a different set of potentials than they had envisioned just as little as three or four years ago. The impact works through, directly and indirectly on a number of levels. People aren't as quick to get divorced in some situations as the necessities of staying together are different. Issues around how we care for our elderly and our children and communities are more at the forefront.
I'll leave the astrological predictions of the time to people much more qualified on those levels. It is interesting that the later part of this month does have some big transits going on, Saturn into Libra, Mars, Uranus all moving into different signs. There's some big alignments taking place, but again, some would say when isn't there? Many of these things point to the later part of this month through October as a time of some very big bumps and shifts. Most of the resources I find useful though also stress that we have to grow through this, not just go through it.
On a personal level, I've had to, like so many, look at priorities and security in the last few years. When I made the decision to have my business and much of my life settled in Winnipeg's North End, some people found that odd. It is an area that does have poverty and struggle, but it also has endurance, character, some very good people who care about community and a sense of loyalty in the support of neighbors. I don't think we would be still operating had we gone with a more expensive or "trendy" location. Our area is often in the news, but I can also say that I have a sense of safety here. I get panhandled less in the north end than I do downtown. A friend asked me recently how is business, my running joke is some days it's Kraft Dinner and some days No-Name Mac and Cheese. I have had to make some transformational, not just circumstantial changes in my life.
The picture (above left) is from Charlie Chaplin's silent film "The kid" with Jackie Coogan (who went on to play Uncle Fester in the Addams Family TV show- how's that for trivia). The film was made in the time of the great depression. It was in that time that the home I live in was built. It's a place that has what they now call a "granny flat", in other words it's an old duplex, but with the ability to convert easily into a single dwelling. Back in the time it was built a lot of families lived - by necessity- cooperatively. I've been blessed to have, in addition to my biological family, an extended family that tries to live that way. I've been part of adult kids moving back home (building bunk beds requires a DEFINITE sense of humor). What some would have seen as inconvenience has always turned out to be something incredibly important, a privilege to be part of and there's a lot through it all that has helped me grow.
As a reader, I find I am picking up more and more, not just on the circumstantial changes people are moving through, but more importantly the transformational changes we have to come to terms with. Things aren't going to get back to "normal" folks. This is normal, this is it. We have had a 60 to 70 year detour, time to get back to what has helped us survive. That's just my opinion. I said in an interview about two years ago that we need to look at the experience of people in the earlier part of the last century, take back the wisdom we have stuck in nursing homes and disowned. Listen to our elders and be prepared to share that experience. Sorry if this seems heavy, but at the same time, I am not the sort to just placate where we sometimes need to wake up. It is a heavy time, but it is also a time of great positivity.
Transformational change is where we find tools and muscles we haven't used before. I believe the Creator gave us these things when we set out on our journeys, but it isn't until we get to these inconveniences sometimes that they really wake up. True there are some that actually go looking for transformational change, but real awakening isn't just a weekend retreat at Mount Shasta (don't get me wrong a weekend retreat can be a great thing and for some very helpful, but real transformation is not something we can usually schedule). We are moving into the real acid test of a lot of the new age learning and discovery that came in during the 60's. We have a generation approaching retirement that could be the greatest benefactors of mentorship in the history of the world. We might not get to loll for half the year on a pristine beach, we might have to go for a holiday then come home and work part time in our communities, but low and behold we MIGHT just be better off and richer in other ways than we would be otherwise.
So that being said, (I know, I have to stop saying "that being said"), I think we are in for a LOT of positive change. Fasten your seat belts! I always come back to the Desiderata, the part about "look after your career, it is a real possession" is not just about looking after your job, it's about doing what you do in a way that expresses who you are, and especially; "whether or not it is clear to you, no doubt the universe is unfolding as it should".
Posted by Trevor Psychic Intuitive at 12:41 PM
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Sea-lettuce, Ulva lactuca
Sea-lettuce is a green seaweed of rocky shores of all the sea's and oceans. This seaweed forms dense clumps of membranous blades, only two cells thick. These blades or thallus resemble lettuce leaves and can grow one meter long. This is an incredible fast growing seaweed, reaching a growth rate of 40% a day in optimal conditions. Sea Lettuce is bright green and is often seen on the beaches or free floating on the waves. Sea lettuce is edible and attract the attention of scientists as a very usable source of large scale seafood.
Sea-lettuce as a food
Sea-lettuce has a lightly salty sea flavour taste, much like salty spinach. Sea lettuce is an important part of Korean and Japanese cuisine. In Japan it is used to make Suhsi, it replaces nori (Porphyra), the most popular seaweed in sushi.
sea-Lettuce and wastewater
High nitrate levels can be removed from brackish wastewaters produced by agricultural runoff or fish farms, like wastewater produced by salmon fish farms. This is a win-win situation: the sea lettuce reaches an unbelievable growing rate and can be harvested, the wastewater is cleaned.
A young Atlantic cod resting ob Sea-lettuce. Atlantic cod are demersal fish which prefer sea bottoms. A nice photo of John de Jong, on Jojodive.
Sea-lettuce is very resistant against pollution.
Sea-lettuce is a symbiotic seaweed
The Sea-lettuce seaweed has a symbiotic relation with the marine bacterium YM2-23: this bacterium produces "thallusin". Thallusin induces normal germination and morphogenesis of green macroalgae. . It is well known that sea-lettuce lose its natural morphology during cultivation under aseptic conditions and during long-term cultivation in nutrient-added seawater and adopt an unusual form without thallusin. bron: Isolation of an Algal
Morphogenesis Inducer from a Marine Bacterium
Yoshihide Matsuo1, e.a.
A prawn between the leaves of sea-lettuve.
A photo made by Sander, Sander.
Green algae of the Northern Atlantic and Artic Ocean and North sea, source: P. Kuckuck 1933, Wat vindt ik aan het strand, vert 5 de druk
1 sea lettuce or ulva lactuca
2 Ulvopsis grevillei or Monostroma grevillei
3 Stone Hair or Link confetti or Entermorpha intestinalis
4 Enteromorpha linza or ulva linza
5 Enteromorpha compressa
6 Spongy Weed or Spongomorpha aeroginosa
7 Green Tarantula Weed or Acrosiphonia arcta
8 Common Green Branched Weed or Cladophora rupestris
9 Flax Brick Weed or Caetomorpha linum
10 Evenly Branched Mossy Feather Weed or Bryopsis plumosa
11 green sea fingers, dead man's fingers,sponge seaweed or Codium fragile
P. Kuckuck
Dr Paul Kuckuck is the writer of the book "Der Strandwanderer".
The first edition started in 1905, the last one in 1977.
On this website you can find these illustrations :
the sea slater
light-bulb tunicate
Whelks, limpets and periwinkles
Sponges and sea anemones
sea beech
teredo worm or shipworm
sea-lettuce or ulva
decomposing leaves as these produce large quantities of hydrogen sulphite (upper, middle and lower shores). Its thallus or frond is a thin bright-green translucent sheet of varied shape anchored by a holdfast and sometimes a short stalk (stipe) though in some locations this seaweed survives as a free-floating weed. Size varies from 5 to 5o cm, sometimes over one metre in length. The thallus is only two cells thick. Ulva species are aptly called sea lettuce. These green seaweeds may form dense clumps of membranous blades, only two cells thick, that resemble lettuce leaves. The sea lettuce Ulva is probably the most common green seaweed on rocky shores a section through an Ulva frond. Two sheets of closely spaced photosynthetic cells make up the frond (Ulva is said to be distromatic). Each cell has a single cup-shaped chloroplast which is parietal (lies in the margin of the cell) and during the day is positioned facing the surface, to intercept the sunlight for photosynthesis. At night the chloroplasts move, typically sitting at one of the long edges of the cell. Some of the cells, especially those in the stalk, give out multinucleate hyphal-like appendages called rhizoids, which strengthen the stalk. For anyone who has ever been down to a rocky seashore during low tide, one of the more notable features is the many seaweeds that may blanket the lower intertidal. Yes, seaweeds (or marine algae as they are often called) are that slippery stuff growing attached to the rocks that make the beach smell the way it does. Ulva and Enteromorpha are fast growing opportunistic seaweeds that have a wide salt and temperature tolerance. These features enable them to rapidly colonize any part of the rocky seashore if the conditions are right. They are often very abundant high up the shore where desiccation stress is the primary factor controlling seaweed distribution. Under sheltered conditions, Ulva and Enteromorpha species may be the only seaweeds to occupy entire high shore tide pools with Ulva plants often attaining lengths in excess of half a meter. When areas of the seashore become disturbed, these are the seaweeds that would be the first to appear because of their ability to rapidly colonize freed space. Ulva is a genus of algae that includes species that look like bright green sheets and live primarily in marine environments. They can also be found in brackish water, particularly estuaries. They live attached to rocks in the middle to low intertidal zone, and as deep as 10 meters in


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About 72 new emojis with Unicode 9.0 will make their way a best to your iPads, iPhones, Apple Watch and even for the Mac. The new emojis include some funny characters which most of the users appreciate. Although the new emojis are released in the Unicode 9.0 but it require some time for the Apple to add them in to the iOS keyboard. The iOS 10 beta not included the new emojis but we suspect that Apple might add them to iOS at the time of its release. If you want to use and enjoy the new emojis right now then we found a neat workaround. To find out how to use the new Unicode 9.0 emojis on iOS.
How to Get Unicode 9.0 Emojis right now
Step 1.
The first step is to launch the Safari browser on your iPad, iPod touch or iPhone and open the link which contains all the new emojis which will needed in this tutorial.
Step 2.
Scroll down on this website until you see the emojis. You just need to tap and hold on the text to highlight it. When simply the text selector appears just tap and hold on the one ends and scroll down to select the all emojis which are listed on the webpage by using the same method as how you select the normal text.
Step 3.
When all the emojis are selected then simply tap on the "Copy" button. Now return back on the homescreen and then launch the Notes app.
Step 4.
Create the new note then tap and hold on the empty place and paste the emojis which you copied in the third step.
Step 5.
Once all the selected emojis are copied in the Notes app, then simply tap and hold the selected emoji which you want to use and copy it. You can paste the selected emoji in the iMessage or the any messaging app which you prefer to use and then hit the sending button.
For every time you want to use the emojis open the note which you created, copy the selected emoji and then paste to your messaging app. While this method is long but it has certain benefits as you will send and receive the latest emojis as no matter which app or the device which you are using.


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Late Rabbit is always on a lookout for potential business collaborations and partnerships!
If you have a business and would like to talk to us about partnership, business collaboration, marketing and advertising related matters, please email us at firstname.lastname@example.com and we will be delighted to discuss with you! If you are a blogger and would like to feature our products on your social media, you may also drop us an email at firstname.lastname@example.com!


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FFM hosts capacity crowd for John Stossel, Tax Freedom Day on April 22, As the Turbine Turns, local government lobbying for federal funds, and a quote of the week from Congressman Paul Ryan (R-WI).
Featuring: Minnesota Non-Profits Receive $440,000 to Fight Keystone XL Pipeline, Monticello muni-fiber gets the MPR treatment, Stossel special promotion, Human Achievement Hour, and more!
Sign up today for our e-update to find out what is going on in your state and local government.
We will do our best to uncover the wasteful spending you report.
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Sometimes life takes us places where our beloved dogs cannot follow. Whether that's a business trip or a family vacation,..
Monthly Archives: April 2019
A number of animals have become domesticated by the human race for their labor, companionship, wool, leather, and more. Two..
Many people feel that life is much more enjoyable while enjoying it with a pet. If you're wanting to own..


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Back with another post on my May 2012 choice of bag from Tocco Tenero!
Check out my style I did for April choice, Isabella Bowling Bag HERE !
Every single time I go to down to Tocco Tenero, the collections never once failed to make me squeal like a lil shoppaholic. XD
And lucky me, I got to see the newer collection of bags they had!!
Before I went down to choose my bag, I told myself I wanted to get a bag with a bold color since I have tons of bags that were in monotonous colors.
Like always, I took a freaking long time to choose my bag, but the shop staffs there were so friendly, I told them I wanted bags with bold colors and they showed me every single one that matched what I wanted!
The camel colored bag in the picture above kinda caught my eyes cos its design was SO special I couldn't stop staring at it.I was praying and crossing my fingers they had other brighter colors~ And alas, my fingers crossing worked and they had a red colored one!! Happy TTM!
|ELISSA Red Weekend Bag
Introducing you my new baby!!
I shall start naming all my Tocco Tenero Bags from now on. XD
Lucky me, again, it was the last piece left at the shop!! I was too stoked about it I couldn't wait to get it back with me right there at that moment so I told them I didn't need a new piece, the display was just fine. Nyahahah!
If you guys still don't know about Tocco Tenero or have not read my previous post on my April Bag, Tocco Tenero sells only Genuine Leather goods and the concept of their products is to produce something that is versatile!
Check out their website:
More Information about ELISSA
- Material: Pebble grain cowhide
- Available colours: Black, Red, Camel, Khaki
- Large spacious weekend bag with dual braided tube handles.
- Body is unstructured and constructed with a slight fold in the middle to give it its' unique shape.
- Zip-top closure with double zipper-protected compartments along both sides of the bag to hold small loose items.
- Also features a single zipper-protected compartment on the back face.
- Long strap included to provide the additional options of shoulder or body sling.
This time's coordinate, I decided to go with an all black outfit that allows ELISSA to stand out like no one's business. It is more of a MODE style I would say.
Black Flowy Collared Chiffon Top
Simple Black Shorts
Netted Patterened Leggings
Shoes (Not Seen)
Red Felt Pumps
- Silver x Black Statement Necklace
- Rose Gold Watch
- Black Headband
Make up
- Heavier eye makeup with dramatic wing out and full eye line.
- Bronzed out cheeks
- Orangey Red Lips
I hope you enjoyed my Tocco Tenero Style post and stay tuned for next month's style!
Drop by their stores listed below to check out their bags available!
Wisma Atria
Unit: #01-33. 435 Orchard Road
Singapore 238877
Unit: #P1-26. Millenia Walk
9 Raffles Boulevard, QB House
Singapore 039596
Robinsons, The Shoppes Marina Bay Sands
#B2-09, Canal Level
The Shoppes at Marina Bay Sands
Singapore 018972
Robinsons, The Centrepoint
176 Orchard Road, #05-05, The Centrepoint
Singapore 238843
Tangs, Vivocity
1 Harbourfront Walk
#01-187 and #02-189
Singapore 098585
Changi City Point
Unit: #01–47. 5 Changi Business Park Central 1
Singapore 486038
OG People's Park
100 Upper Cross Street
Singapore 058360
OG Albert Complex
60 Albert Street
Singapore 189969
Remember to head over to Tocco Tenero's Facebook Page for updates on new collections and awesome sales!!
I'll see you lovelies soon!!!
Until next time!
Youtube Channel: Beautymake999