Progressive Thinking and Mismanagement in the Development of America Essay

Progressive Thinking and Mismanagement in the Development of America Before the American Revolution - Essay Example It is evident from the study that the ability of Americans to create productive things and ideas develops their society before the Revolution even takes place. In the words of Butler, despite the fact that British mainland colonies in America during the eighteenth-century were not considered as fully developed modern societies, those can still be considered sustainable. The British colonies in mainland America were able to show developments in their trade, transportation, education, press, government, and social structure. The advancement in these aspects shapes the culture of British colonies in America. As a British colony, the economy of America depended on the products of its lands. Britain imposes total domination on all its colonies including both political and economic superiority; subordination is a must for these newly acquired territories. In the words of Newell, American farmlands are considered as subject to agricultural experiments, a source of raw materials and crops th at would be transported to England as property of the Crown. Success in trade was carried out through fast transportation systems and favorable relationships with neighboring lands. In 1630s, for instance, the success of the tobacco production in Chesapeake and sugar in the West Indies ensure that food production is sufficient enough for exportation and consumption of the colony. Aside from the fact that American colonies amass wealth and strategic advantage for England, it also serves as a place of exile for slaves, prisoners, religious dissidents and ethnic groups. With this in mind, it can be said that America is, initially, a diverse society as its settlers came with different social orientations. While this diversity creates conflicts, it also helps settlers to respect each other. For the reason that they are considered enemies of the Empire of Britain, they share a common goal, to be free and build their own government and economic system. For instance, trade develops as a res ult of successful business relations with settler groups. Effective trade relation is one of the factors affecting the economic development of Colonial America. Education Other than the development of economy through trade and transportation, British in America establishes schools for their children and natives. Although illiteracy is widespread in America, parents took the effort of teaching their children essential skills such as reading, writing, counting, and household tasks. In addition, local teachers and parsons organized schoolhouses for both boys and girls. While this system of education is not considered formal, this also contributes to the spread of knowledge and increase in literacy progress.

Effectiveness of higher education Coursework Example | Topics and Well Written Essays - 2250 words

Effectiveness of higher education - Coursework Example The metrics of measuring or appraising the effectiveness of higher education are vast and essential. Higher education is perceived as any post-secondary school education which aims at modeling students to be professionals in various fields of interest. In order to measure the effectiveness of higher education, specific variables are considered based on their roles and the influence they have on both students and the institutions. In this synthesis essay, identified are sources that provide in-depth analysis of how effectiveness in higher education can be achieved. Additionally, the sources show how difference variables are deployed in various higher education settings and how efficient they make higher education. Among the factors considered in this case include productivity, effectiveness, unit cost, and efficiency. With reference to the productivity, efficiency and effectiveness, there are various perspectives that influence how each of these properties of higher education can be u sed to measure the overall effectiveness of the education system. While different sources provide varying arguments regarding how effective higher education is, a universal element is considered in most of these sources. Technology is mentioned in various sources as a factor that influences the effectiveness of higher education. This synthesis essay seeks to agree while at the same time offering a different perspective since most sources are peer-reviewed and offer quality appraisal metrics regarding the effectiveness of higher education.

2011 Occupy Wall Street Movement Research Paper

2011 Occupy Wall Street Movement - Research Paper Example It raised questions about the humanity of the people at the helm of affairs and also questioned the political will of the nation’s system of governance whereby the sincerity of the nation’s political establishment in creating a certain amount of parity within the population is rendered suspect. There are other aspects of this movement and the government’s response that need to be looked into. Apart from not offering any tax sops to the common man and talks of doing away with tax-cuts that were offered during the Bush-era, the government had fuelled the anger of the common man. The brutalities that were carried out upon the protestors by the police came out in the open only due to the work of independent cameramen who were not associated with any news agency. The incidents that occurred during the movement thus bring to light the role of the media as well in the success or failure of such movements. The movement is described by itself as being the result of a series of movements that supports democracy. These, the movement claims, includes the uprisings in Tunisia and Egypt where the common man protested against the marginalization of a majority of the population for the purpose of the welfare of the minority that constituted the ruling elite (Occupy Wall Street : The Revolution Continues Worldwide, n.d.). Having this as a moral backing definitely provides a cushion for the movement in terms of the support that it would be able to gather at an international level. There is thus an element of diplomatic support that the supporters of the movement expected to get through their efforts for an equitable society in which everybody would be provided with equal opportunities. In the absence of this, people would live lives whereby their work would be used for the benefit of others and not themselves. Apart from the moral degeneracy of this position, there is also the fact of its unsus tainability from an economic point of view that needs to be looked

Successful People Essay Example for Free

Successful People Essay To Kill a Mockingbird by Harper Lee and Stand and Deliver by Ramon Menendez and Thomas Musca are two similar stories where the main characters are both very determined. They both want to make a difference and are both very confident men. In To Kill a Mockingbird, Atticus Finch, the main character, is a white older man that is a lawyer. During the book, he has to defend a black man who was charged with raping a white woman. During that time period, black people were seen by the community as trash and or not important. In Stand and Deliver, Jaime Escalante, the main character, is a Hispanic man that was put into a dangerously diverse school district. He goes to the school as a computer teacher, but the school doesn’t have computers. He then is assigned as a math teacher that has to find a way to teach students that society has assigned them as rejects. There are three similarities with the two main characters of each story. They both are very determined, they both want to make a difference, and they both are very confident. To be a successful person like Atticus Finch and Jaime Escalante, you have to be very determined. Atticus Finch shows his determination in the work he does and the quality of work he does. Atticus is especially determined in the trial of Tom Robinson, a black man that was accused of raping a white woman. Atticus Finch went into the trial knowing that he was going to lose because in that time period a black person is convicted of something. Even if they didn’t do it they are guilty. But when he was done with the trial, he didn’t care if he won or lost. All he cared about was that he got the jury to think. Jaime Escalante shows his determination when his fellow teachers tell him he can’t do things. He also shows his determination in teaching his students. He also teaches the community adult school. Jaime is very determined especially when his fellow teachers tell him that the students he’s trying to teach are dumb and stupid and have horrible work ethics. He proves them wrong. He tries teaching the students, which is unheard of by that school. Jaime goes above and beyond on his teaching. He has class during the summer in the school’s locker room with no air conditioning and no air movement just to help his students have a better life. He also teaches at the community adult school to allow his fellow aged citizens have a better education and allow them to live a better life and advance in a society that is crumbling. Atticus Finch and Jaime Escalante both show that to be a successful person you have to be very determined and have a goal in your life to be successful. To be a successful person like Atticus Finch and Jaime Escalante, you have to want to make a difference. Atticus Finch wants to make a difference in his community and in his family. Atticus Finch shows that he wants to make a difference in his community by getting rid of the black versus white going on. â€Å"The colored balcony ran along three walls of the courtroom like a second-story veranda, and from it we could see every-thing† (164). He shows that he wants to make a difference in his family by getting his family to get rid of the black versus white and also by having his cousin come and stay with them over the summer to teach Scout how to be a lady. Jaime Escalante wants to make a difference in his community and in his students. Jaime shows that he wants to make a difference in his community by teaching students, parents, and older adult’s math and that their community isn’t just about getting a job and having or dealing with racial conflicts, which they can change the community by wanting and trying to learn. He also wants to make a difference in his students by not having them just follow what the other students are doing. The other students didn’t want to learn, were in gangs, and didn’t want their friends to learn. Their friends wanted them to do things that would hurt or ruin their lives, and he succeeds in teaching them that life is not just about a job and what your friends do and to follow them. It’s not about what your friends think and how you see yourself around your friends. Life’s about living life to the fullest. The way you want to do it, and not the way society thinks you should do it. Atticus Finch and Jaime Escalante have both shown that they want to make a difference in their lives and the lives of others. To be a successful person like Atticus Finch and Jaime Escalante, you have to be very confident. Atticus is a very confident man when it comes to him being a lawyer and everything that he does. Atticus shows that he is a very confident person in the Tom Robinson case because in that time period black people like Tom were guilty of any crime that someone accused them of. Atticus had to be precise on what he said and how he said it to try and make the jury think about the case. Atticus is also very confident in everything he does. One thing he does is shoot a rabid dog to save his community and never missed. â€Å"I saw that, One-Shot Finch!! †(97). This quote shows that when Atticus is determined to shoot this dog to save his community that he is so confident that he only has to use one shot to kill the rabid dog. Jaime Escalante is a very confident person especially with his teaching methods and how he pushes his students to succeed. Jaime shows how confident he is with his teaching methods with his students by being one on one with them and teaching them the way they want to be taught and also with their personality. The other teachers tell him that he can’t teach the students college level math and that the students wouldn’t learn it because they were stupid. Jaime was confident and persistent on the students to succeed and to learn at their fullest potential. Atticus Finch and Jaime Escalante have both shown that they are very confident in their everyday lives and in their jobs. Successful people tend to be very determined, want to make a difference, and are very confidence with strong personality traits. If all people where like Atticus Finch and Jaime Escalante, the world would be a better place to live in. We would have smarter, more educated, and more intelligent people. People would be determined to get things done and not wait till the last minute and not do things. People would want to make a difference not just to be a follower that blends in. They would want to stand out and make a difference for themselves, for their community, for their country, and for the world. These people would have to be confident in what they do and how they do it because the followers and people that blend in would judge them and hopefully follow them. If people would act like Atticus Finch and Jaime Escalante in school, we wouldn’t have to worry about bad things going on in school. We wouldn’t have to be scared about things that come up on a daily basis like drugs, stealing, gangs, fights and things like that. On a larger scale, the world would be perfect. We wouldn’t have so many things to protect us because we would be intelligent enough to not need them. People would be very determined to be better than the next person. People would want to make a difference, and they would have to be very confident because it would take a great amount of time and dedication to become like Atticus Finch or Jaime Escalante. To be a successful person, you have to be determined, have to want to make a difference, and you have to be confident. These three personality traits are what make up great people like Atticus Finch in the book To Kill a Mockingbird and Jaime Escalante in the movie Stand and Deliver, and they truly teach us how a successful person lives.

First Draft :: Creative Writing Essays

First Draft =========== This poem is based in the 19th century. There are three main characters in the story. Cousin Kate, Cottage maiden and the Lord. The title of this poem is self-explanatory. As you can tell the poem is based on a character called cousin Kate. As she is the main character in the poem, the whole poem revolves around her. The poem is based on Triangular Conflict, which means that there is a conflict between three people. The poem basically tells us about 19th century life and peoples attitudes towards unlawful relationships. The poem tells us about a cottage maiden who had an affair with a Lord. She looses her virginity to him, and then regrets the whole ordeal. In the 19th century if you were not known as pure, then fellow friends and family would reject you. It was seen to be unclean and impure if you were to have sex before marriage. Men would then look down on you in disgust, as would friends and family. The poem demonstrates how a man can love a woman, then throw her away and move onto another as he pleases, and because he was a lord the cottage maiden could not say a thing. This brings into light the difference between higher and lower class people. If the cottage maiden had said anything, people would not believe her and would turn a blind eye to her, and to her accusations. Stanza 1 portrays the introduction to the poem. The issues raised in these two stanzas show that she was 'lured' by the lord. This tells us that he dragged her in like an animal luring its prey, waiting to attack its victim. At the beginning of stanza 1 it tells us that she is happy with her life. According to the introduction she works on a cottage and is happy with her life. According to this she is 'contented' her mates. She is happy with her friends and is all together happy with her life. She then goes on to say "why did a great lord find me out". This tells us that out of all the workers, or all the girls the lord knows, the cottage maiden was chosen. The start of the poem is written in first person narrative and carries on like that throughout the poem. The structure of this stanza is written in first person narrative, this means it was written from her point of view, and shows her feelings and no one else. The language used is very early 19th-20th century; it gives the impression of happiness leading to sadness.

Examine the argument that desirable neighbouring

Examine the argument that desirable neighboring is characterized by both distance and proximity BY Repossessions Examine the argument that desirable neighboring Is characterized by both distance and proximity This essay will examine the attributes of desirable neighboring, looking at the characteristics and unwritten rules of good neighboring, how material life shapes social identities and social order to regulate and control the distance and proximity between neighbors. Secondly, personal and social identities are discussed and how these affect the interaction with neighbors.Thirdly, tensions around different cultural social rules are considered and the effect of these different rules has on desirable neighboring. Lastly, causes and effects of neighborly disputes are examined while also looking at how these broken connections are remade. Qualitative data Is used as evidence to support this analysis, this type of data Is given In a non-numerical format, usually gathered from an Inter view or survey form, as well as using observations by the researcher.Desirable neighboring is described as the balance between preserving the connection with neighbors, examining their eternal lives of how, where and when they interact with their neighbors, while maintaining a suitable proximity and respecting their ‘need for privacy' (Wolcott, cited in Taylor, 2009, p. 173). Byword (2009, p. 254) compares desirable neighboring too ‘slow dance', whereby neighbors should preserve their proximity to each other, while not getting too close or be too distant, in order to stay connected with each other. This type of social behavior is unwritten and learned through solicitation (Byword, 2009, p. 54), whereby individuals observe and follow the norms of acceptable behavior (Withering, 2009, p. 0). Harold Garfield (cited In Taylor, 2009, p. 173) argues that social life Is fluid, continually changing whereby Individuals constantly adapt to preserve the balance of social order In t he neighborhood. Harris and Gale (cited in Byword, 2009, p. 255) identified that neighbors communicated primarily outside of the home' in what was perceived as public space, and ‘not in the home' which could be perceived as ‘over-neighboring' by infringing on their neighbors personal space.Nevertheless, the purpose to provide social structure is still the same. However, social rules can be caused by mistrust and the need for power and control. Stanley Branded (cited in Byword, 2009, p. 260) explains that in Spain, desirable neighboring requires individuals to be close, both socially and physically. For example, he observed that neighbors leave their front doors open and neighbors come and go from each other's houses without hesitation, whereas the qualities of ‘not being intrusive' and ‘reserved' were seen as suspicious and rude.However, this proximity and closeness was used as form of surveillance and control. Different social rules can lead to inequalities and unequal connections, some neighbors might be excluded for not adhering to the expected social rules or not being able to participate (Taylor, 2009, p. 158). The boundaries of good neighboring are unwritten and are subjective interpretation, which can therefore lead to disputes (Byword, 2009, p. 263). Elizabeth Stoke (cited in Byword, 2009, p. 64) examined how a neighbor's intimate noises were intruding into the other neighbor's private space. The main issue was that the neighbor was not seen to be considerate by minimizing the noise, which was intruding into the other neighbor's private space. Steps were taken to repair the social order using mediation. This is an example of how social order can be broken and repaired, but the neighbor's relationship was not completely the same as fore which highlights the fluidity of social life and how it changes.To summaries, material life can connect and disconnect neighbors, desirable neighborliness does not only include social and physical distance and proximity, but also how an individual presents themselves and is therefore perceived by their neighbors (Byword, 2009, p. 258). Taylor (2009, p. 171) argues that personal identity is not fixed and includes multiple identities. One of which is their social identity of being a neighbor, which is made and remade as individuals adapt to the fluidity of social life.Additionally, different cultures have different social rules and expectations around desired neighboring, which can cause tension and inequality. Intern, this can lead to disputes to arise leading to a break in social order, different social rules control creating differences and inequality in social order and life (Taylor, 2009, p. 291). Byword (2009, p. 254) compares desirable neighboring to a ‘slow dance', requiring neighbors to change and adapt to the differences and inequalities of social life, to make and repair social order created from this.

How Risky is Risk

â€Å"The human understanding, once it has adopted an opinion , collects any instance that confirm it, and though the contrary instances may be more numerous and more weightily, it either does not notice them or else rejects them, in order that this opinion will remain unshaken. † Francis Bacon, 1620. Risk is a very interesting thing; people normally tend not to realize the real effect that risk takes in their lives.There are many kinds of risk, we want to focus on studying the financial risk, the perception of it, the effect that it has on the private banking behavior, their clients, and how they would be treated, the effect that it has on decision making, and the effect that it has o behavioral finance. Because when you start talking about behavioral finance you need to try to understand what risk represents and all of the effects it has. During this article we want to show why over 10% return margins shouldn't be viewed as something risky, but as something worth analyzing. Because in this times people are going to need over 10% margins if they still want to be making profits out of their investments. And once people understand what risk represents, what it represents ND all of its effects, they can start analyzing what they want and need out of their investments. And once they understand that, they are going to do anything to accomplish it, because as it is said in the quote at the beginning once the human understanding acquires a goal and an opinion on how to get to the goal, he will do anything to end up successfully. . Risk Risk by definition, is the potential of gaining something of value, weighed against losing something of value but, The term â€Å"risk†, means financial risk or uncertainty of financial loss† (Raglan, 2003). After using these terms for the purpose of this paper e will divide the study of risk into 3 parts: types of financial risk, the ways to measure IR and perception of risk. 2. 1 Types of risk There are many types of risk; we are going to focus on 5: credit risk, market risk, operational risk, regulatory risk, environmental risk.All of these are top priorities for banks to analyze throughout the operational process. Credit risk, is the potential that a borrower fails to meet his obligations on the terms that were agreed. There are 2 key components on defining credit risk, quantity of risk and the probability of default. The banking system manages credit risk using exposure ceilings, review renewal, risk rating, risk based in scientific pricing and portfolio management. Market risk is the possibility of loss caused by changes in market variables, it sums up to four components.Liquidity risk, this is divided into funding risk, time risk and call risk. Interest rate risk, which is the potential of negative impact coming from changes in rates. Foreign exchange risk and country risk. Operational risk: Human error risk. Regulatory risk: The risk implied by the government ‘s ability to make n ew laws and modify regulation. . 2 Wars to measure risk There are several methods to measure risk, we will be focusing on the most common ones and the ones that are better suited for Hedge Funds. Vary is used to quantify the exposure to the market risk, using standard statistics techniques.It measures the minimum expected loss that a firm may suffer under normal circumstances, over a set time period at a desired level of significance. One of the biggest setbacks with Vary is that it's useless in times of booms and crisis as it doesn't prevent you from being part of them. Another big problem with Vary is that it is one of the most moon risk measures and people tend to trust it too much without hesitation. (CITE) Standard deviation is a measure of dispersion of a set of data from its average. It is usually applied to the annual rate of return of an investment to measure the investment ‘s volatility. CITE) After taking a look at these 2 methods that are the most commonly used, we will be talking about the ones more suitable for the Hedge Fund industry, which are the following: Seminarian's or downside deviation is the average of the squared deviation of values that are less than the mean or a â€Å"minimum acceptable return†. This method is similar to variance, the difference between the two is that seminarian's focuses only on the negative fluctuations of the asset neutralizing all the values above the mean. This method primarily provides the estimate of loss that a portfolio could incur, keeping the estimated risk realistic. CITE) Kurtosis is a statistical measure used to describe the distribution of observed data used around the mesas. Kurtosis is also known as the measurement for the volatility of volatility. Its main purpose is to describe the trends in charts. Keenness describes asymmetry from the normal distribution in a set of statistical data. Keenness can come in the form of â€Å"negative keenness† or â€Å"positive keenness† , depending on whether data points are skewed to the left (negative skew) or to the right (positive skew) of the data average. CITE) After analyzing these methods, we can conclude that for a Hedge Fund and especially for clients investing in these it is better to use the seminarian's, kurtosis and keenness methods to analyze the risk of an investment. These three focus more on the downside risk of the portfolio instead of using the Vary that is only good on stable periods and doesn't account for drastic mimes, besides standard deviation and variance can be very deceiving in the context of analyzing the real risk that a portfolio can have focusing also on outlying positive returns. 3.Private banking What we want to analyze is the way private banks operate and especially how clients needs are met, how they are treated, how their money gets almost frozen with interest rates that barely covers their money from the effect of inflation, and how private banks earn a lot of money while clie nts barely earn real returns. Banks offer annulled returns between 3 and 5 percent which is usually not enough to meet paving expenses or inflation for the wealthy clients. An American study showed the following: â€Å"Americans said they need to earn average annual gains of 9. Percent above inflation to make their financial needs. Natives officials noted that inflation since 1964 has averaged 4. 2 percent annually, which means the average American has to generate 14 percent to meet their needs. â€Å"fee,2014) having this in mind clients can realize that they need to expect a bigger profit on their investments because they are actually losing money, their money is losing value and the only way f stopping this from happening is by demanding higher returns using alternative investments. High returns while taking minimal risk is a pipe dream; if asset growth is your priority, taking risk is crucial† Oaf,2014), and that is why clients need to be sure that risk is being managed in the most efficient manner. 3. 1 Clients The most important part of any financial institution are the clients, and most important thing about them is recognizing that every client is different and every client has different needs. Every client has to be treated differently to help them meet his/her goals. As the investigation of Dry.Rene Fischer and his team in the book â€Å"Wealth Management in new Realities†, â€Å"we identify 7 engagements that are shaping client behavior and needs† (Fischer, De Conge, OK, Topper, 2013), with this in mind we will take a look at those seven trends to give clients the best service possible while maintaining a steady margin of returns. Engagement one: Changing demographics. The population is growing and also the markets, clients need security and information that their money is secure and generating profit.Engagement two: Globalization and future markets. With the Gap's of various developing countries rowing at a fast pace, clients are starting to look at investing in new markets. Engagement three: Scarce resources and climate change. Global awareness is growing for environmental issues that can create new opportunities in clean energies, and a new set of investments in ecological matters for clients. Engagement four: Economic crises and insecurities. With the volatility of the market, clients are starting to be insecure about their money.It is the financial institution ‘s Job to keep clients informed about the situation their money is in, and make them feel safe that their money is in good hands. Engagement five: Dynamic technology and innovation. With all the changes in information technologies, â€Å"more and more people are getting connected and are sharing information on the go' (Fischer, De Conge, OK, Topper, 2013), this makes clients better informed and more aware about what is happening to their money.Engagement six: Sharing global interest responsibility. With the shift towards global cooperati on and MONGO ‘s gaining power, clients are demanding socially responsible investments. Engagement seven: Global knowledge society. This trend goes hand in hand with trend number five, with new technologies of information, society has easier access to new information and the tools to know what is happening.With all these trends happening, clients want to be more informed and still get the same yield, but with the misinformation, manipulation and misunderstood promises from the monetary agents, the clients think that having their money working to win Just a little over inflation Just to avoid losing money might be wrong, because with the globalize economy that we have this days studies that are being made all around the world can be generalized, so if something is happening in Europe you could assume that something similar is happening morpheme else.So with this in mind after taking a look in some studies made in India we saw that the inflation is not the same for every social c lass and that the general inflation that everyone takes for granted does really have much effect on the middle and high class, because it is made out from an average of items that don't really affect does two classes, and we are focusing on them because they are the ones that are clients of the financial institutions, and the prices of the items that they acquire are going up stronger that the regular inflation, so that is why they are not retorted with the interest rates that they receive, and they are in fact losing money which is the one thing that they were trying to avoid. 4. Behavioral finance There are many factors involved in the process of understanding behavioral finance.To understand this you have to start with risk perception, understanding why people tend to make certain decisions, and after that study the behavioral biases investors exhibit to see what drives the intuition of most individuals. Behavioral finance can help a financial institution prevent certain human fa ctors that can be mitigated at the mime of making decisions and preventing psychological factors to play an important role in the decision making process. 4. 1 Risk perception Risk perception is one of the most important elements of psychological effect on the market. Trying to understand why people tend to make certain decisions at certain times is one of the biggest questions in this matter.Many investigations have been made about the subject, one that stood out was: â€Å"The Psychological Impact of Booms and Busts on Risk Preferences in Financial Professionals† by Cohn, Fear and Marcella. During this experiment they decided to manipulate two different kinds of lotteries giving different options in different controlled markets. Their final conclusion was that there will always be a psychological/emotional factor that can't be measured with precision but you can be sure that during times of booms people tend to be overly optimistic and risk is not their biggest concern, and during times of busts people usually tend to be overly conservative and almost allergic to risk.This can be obvious in both cases as it is when biases come into play. This is why risk can be a risky thing when you are not certain that is being measured the right way. If the risk is being measured correctly, psychological factors shouldn't have any weight in the decision making process. 4. 2 Behavioral bias Behavioral biases in finance are tendencies to act in a certain way; they can lead someone to a systematic deviation from a standard of rationality or good Judgment. Five biases that we believe can be the most common ones in an investor are the following: 1. – Confirmation bias is the tendency that makes people believe in information only if confirms their beliefs and hypothesis. 2.Optimism bias is the tendency to think that you are less at risk of experiencing a negative event than others. 3. – Loss aversion bias is the tendency that agents take on when they prefer the option of avoiding a loss than the option of acquiring gains. 4. – Self-serving bias is the tendency to distort a process because of the need to maintain and enhance once self-esteem. 5. – Planning fallacy bias is the tendency to underestimate the time that it will take to complete a task. These are only some of the behavioral biases that play a significant factor in the psychological process of making decisions. It has to be taken into account that all of them could affect an investor 5.Conclusion â€Å"The human brain has evolved to be very efficient at pattern recognition, but as the confirmation bias shows, we are focused on finding and confirming patterns rather than minimizing our false conclusions. Yet we needn't be pessimist, for it is possible to overcome our prejudices. It is a start simply to realize that chance events, too, produce patterns. It is another great step if we learn to question our perceptions and our theories. Finally, we should learn to spend as much time looking for evidence that e are wrong as we spend searching for reasons we are correct. † (Millions, 2008). After looking at previous evidence, it is clear that both Private Bankers and Clients have a misconception about risk.Behavioral biases transform risk into fear which if not mitigated by Private Bankers leads to inefficient allocation in Client's portfolios, and a controlling position in their relationship. This is why Bankers usually oversee those investments that they are not familiar with and reject them or cause Clients to reject them without studying their process and risk/reward ratio. This is the case with vast majority of Alternative Investments. We encourage Clients to keep a critical point of view with regards to their portfolios and continuously question their Banker's recommendations. By being involved in their investment decisions and being up to date on current market trends Clients will have a correct attitude towards risk when it comes to investing.