Tuesday, September 15, 2020

Essay Writing Services From Essay Writers Now On Writingessayeast Com

Essay Writing Services From Essay Writers Now On Writingessayeast Com I applied here and coped with all my tasks on time although I didn’t even expect this to happen. Regardless of how quickly that deadline may be, you possibly can rely on us getting your essay accomplished whenever you requested. With Essayfreelancewriters you'll overlook about all these troubles! We guarantee that every paper is plagiarism-free and customized-written primarily based in your distinctive necessities and needs. Your tutor may have encountered such issues many instances, and it is part of his/her job that can assist you kind them out. If, despite research and good intentions, you can not seem to get your essay written, or even started, you should let your tutor know as soon as attainable. The main reason is often that such students set themselves too high a regular and then panic as a result of they cannot attain it. This can also be as a result of elements such because the fear of the expectations of others or placing too high an expectation on themselves. writing service on which you'll rely on this necessary job. You additionally want enhancing help after you could have completed your assignments. If they are not supported by clear terms and circumstances, the staff gained’t respect them. As lengthy as you observe the tips shared here, you will find the best service for your needs. For occasion, do they adhere to non disclosure agreement and if the privacy terms are violated what are the repercussions or actions taken. Apart from the basic data requested, their work sample should be learn before selecting them. This may be carried out by studying their testimonials which is able to give an in-depth thought in regards to the quality of work offered by that exact employee. It is essential to verify their sensitivity in the direction of customers which may be identified if they've a separate group for a similar and the tempo of execution of the complaints acquired. Therefore, it is always necessary to do a correct analysis about what is their impression available in the market and the way efficient and environment friendly their work is. In short, you are your first reader, edit and criticise your individual work to make it better. Sometimes it is useful to learn your essay out loud. Where acceptable use simple and logical language and write in full or full sentences. You should avoid jargon, especially jargon that's not instantly connected to your topic space. You can be personal by offering your own viewpoint on a difficulty, or by utilizing that view to interpret other authors' work and conclusions. Let us help you with your work and you'll never once more have to worry about submissions. Writers of advanced works, such as theses and dissertations, are expected to provide regular and well timed drafts of sections and chapters for customer evaluation earlier than continuing to the next one. There’s by no means a wrong time to ask on your a reimbursement. You can request a full refund till you downloaded the achieved order. Things happen, so we’re a hundred% committed to displaying understanding in any situation. It essential right here to notice and maintain into consideration the key aspects which are mentioned earlier. With it, it is needed to provide them a clear understanding of what is your requirements and the way properly are they executing the task. Focus must be on whether they're delicate with the client and are they providing with the service they have promised. The finest ones present with all of the required information which also contains their phrases and conditions. One of the most important purple flags when you're checking the authenticity of a paper assist website remains the suspiciously low price vary for the completion of the orders. One is that an excellent essay should be written in a formal, impersonal method with a good scattering of long words and long, sophisticated sentences. You should assemble your essay as a sequence of distinct factors set out in a rational order. One essential means of guiding the reader via your essay is through the use of paragraphs. In other words, indicate what has been discovered or completed. The conclusion is also a great place to say questions which are left open or further issues which you recognise, but which don't come inside the scope of your essay. The customer have to be saved linked with the worker who has been assigned the work. This will give an concept to the worker in regards to the customer’s ideas and ideas which is able to help him in bringing efficient results. The factors mentioned by the customer should be included in the work. This is a crucial facet as a result of when feedback is taken from the client he might give negative response and he might not feel heard. Through this feedback, the features which weren't thought of can be taken care of and if there may be any grievance, it would be resolved in no time. This will ensure in increased number of happy customers. Hence, this will be the easiest way to advertise the company. This will help the company to enter the market extra effectively and produce more business. At the end of an essay you must embrace a brief conclusion, the aim of which is to sum up or draw a conclusion out of your argument or comparability of viewpoints. An essay should be written in a flowing method with every sentence following on logically from the earlier one and with acceptable signposts to guide the reader. We'll by no means share your e-mail address and you can unsubscribe at any time. I had so much work to try this I didn’t know tips on how to begin.

Essay Writing Services From Essay Writers Now On Writingessayeast Com

Essay Writing Services From Essay Writers Now On Writingessayeast Com I applied here and coped with all my tasks on time although I didn’t even expect this to happen. Regardless of how quickly that deadline may be, you possibly can rely on us getting your essay accomplished whenever you requested. With Essayfreelancewriters you'll overlook about all these troubles! We guarantee that every paper is plagiarism-free and customized-written primarily based in your distinctive necessities and needs. Your tutor may have encountered such issues many instances, and it is part of his/her job that can assist you kind them out. If, despite research and good intentions, you can not seem to get your essay written, or even started, you should let your tutor know as soon as attainable. The main reason is often that such students set themselves too high a regular and then panic as a result of they cannot attain it. This can also be as a result of elements such because the fear of the expectations of others or placing too high an expectation on themselves. writing service on which you'll rely on this necessary job. You additionally want enhancing help after you could have completed your assignments. If they are not supported by clear terms and circumstances, the staff gained’t respect them. As lengthy as you observe the tips shared here, you will find the best service for your needs. For occasion, do they adhere to non disclosure agreement and if the privacy terms are violated what are the repercussions or actions taken. Apart from the basic data requested, their work sample should be learn before selecting them. This may be carried out by studying their testimonials which is able to give an in-depth thought in regards to the quality of work offered by that exact employee. It is essential to verify their sensitivity in the direction of customers which may be identified if they've a separate group for a similar and the tempo of execution of the complaints acquired. Therefore, it is always necessary to do a correct analysis about what is their impression available in the market and the way efficient and environment friendly their work is. In short, you are your first reader, edit and criticise your individual work to make it better. Sometimes it is useful to learn your essay out loud. Where acceptable use simple and logical language and write in full or full sentences. You should avoid jargon, especially jargon that's not instantly connected to your topic space. You can be personal by offering your own viewpoint on a difficulty, or by utilizing that view to interpret other authors' work and conclusions. Let us help you with your work and you'll never once more have to worry about submissions. Writers of advanced works, such as theses and dissertations, are expected to provide regular and well timed drafts of sections and chapters for customer evaluation earlier than continuing to the next one. There’s by no means a wrong time to ask on your a reimbursement. You can request a full refund till you downloaded the achieved order. Things happen, so we’re a hundred% committed to displaying understanding in any situation. It essential right here to notice and maintain into consideration the key aspects which are mentioned earlier. With it, it is needed to provide them a clear understanding of what is your requirements and the way properly are they executing the task. Focus must be on whether they're delicate with the client and are they providing with the service they have promised. The finest ones present with all of the required information which also contains their phrases and conditions. One of the most important purple flags when you're checking the authenticity of a paper assist website remains the suspiciously low price vary for the completion of the orders. One is that an excellent essay should be written in a formal, impersonal method with a good scattering of long words and long, sophisticated sentences. You should assemble your essay as a sequence of distinct factors set out in a rational order. One essential means of guiding the reader via your essay is through the use of paragraphs. In other words, indicate what has been discovered or completed. The conclusion is also a great place to say questions which are left open or further issues which you recognise, but which don't come inside the scope of your essay. The customer have to be saved linked with the worker who has been assigned the work. This will give an concept to the worker in regards to the customer’s ideas and ideas which is able to help him in bringing efficient results. The factors mentioned by the customer should be included in the work. This is a crucial facet as a result of when feedback is taken from the client he might give negative response and he might not feel heard. Through this feedback, the features which weren't thought of can be taken care of and if there may be any grievance, it would be resolved in no time. This will ensure in increased number of happy customers. Hence, this will be the easiest way to advertise the company. This will help the company to enter the market extra effectively and produce more business. At the end of an essay you must embrace a brief conclusion, the aim of which is to sum up or draw a conclusion out of your argument or comparability of viewpoints. An essay should be written in a flowing method with every sentence following on logically from the earlier one and with acceptable signposts to guide the reader. We'll by no means share your e-mail address and you can unsubscribe at any time. I had so much work to try this I didn’t know tips on how to begin.

Friday, September 11, 2020

Best Custom Essay Writing Service

Best Custom Essay Writing Service Hence you have to do a radical research on the place precisely you wish to apply after which do relevant research as per the requirement. For example, you can mirror on a time whenever you may need challenged your belief or thought. The essay can include how did that change your considering pattern and what was the end result from it. This will give them an concept of how succesful you're in bringing a change of that perception and whether you are ready to stand up for your self. You can also clarify the rationale for challenging your perception and what you did after those ideas you had. The occasion that you are discussing needs to be honest and real. It has to be one thing that signifies that you could come out of such situations. There are various the reason why you should not violate the directions related to the word count restrict within the software essay. For example, the first and foremost cause includes a take a look at by school administration about whether you can work efficiently inside a given parameter. While thesis and dissertation usually are not all that different, both of them fulfill slightly varied purposes. The frequent app essay examples 2021 will provide you with an inventory of these examples. These will information you higher to complete the applying essay by your self. Similarly, University of California application essay prompts may need totally different questions than from DePaul university software essay prompts. If you are looking for Ohio university application essay prompts, then here is the right place to begin. Sometimes it has proven to be useful when phrases are used however at the identical time, it have to be referring to your concept or thought. Many a times it's a great thought to make use of your own phrases that are simple yet impactful. If this is not catered to, it might end up like a typical utility essay. This must be extra related to what you felt if you had expertise that scenario and the way is it totally different when you think about it. Another important side is to concentrate on how well do you address obstacles. You can describe the toughest challenge you faced, the way you handled the scenario, and what did you learn from it, even if it was a failure or success. It signifies the perspective and notion of the issue you had been in and how a lot optimistic were you in that scenario. It is important not to turn the essay into humble brag. The worth of the study’s talked about here to help the long run researchers know its reference significance and foundational price of their research. Most folks marvel why it’s so essential to know the definition of a dissertation when you can just begin along with your analysis and jot down factors related to it as step one. If you don’t know the basic definition and the difference between a dissertation paper and an essay, you received’t be able to draft an effective plan and execute it to have a perfect thesis. It may allow them to understand whether as a scholar in their faculty, you can adhere to the school guidelines. A lengthy essay that's considerably over the given wordcount limit, reveals your overconfident nature and creates a negative impression. Further, it additionally reveals your tendency to bend rules in an environment and a community, where every scholar is supposed to follow the rule and regulation. Once you could have completed all of the steps mentioned above, it's time for you to declare that your essay is finished. If you keep on making minute modifications regularly, you might become annoyed and confused. This is more in terms of utilizing one’s personal voice to pen down what is going on in your head which supplies an thought on how you perceive the things within and around you. Here one must avoid using the formal enterprise type languages because it does not make the essay engaging.

Wednesday, September 2, 2020

Home Based Essay Writing Service

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Writing Essays

Writing Essays Together with an excellent schooling, this will assist you to get a superb job. Perhaps your teachers might not let you know, but they themselves perceive that the most effective knowledge is obtained exterior the college walls. the text could be revised as many instances as it is wanted. The shopper might ask the writer to add some info or to precise the text sentence in other method or change the closing paragraph. You have the likelihood to vary the dissertation as many occasions as you need. The essay style in tutorial writing made a transit on display in the middle of the twentieth century. The time period “essay film” within the film theory appeared within the Nineteen Twenties. If you realize a minimum of one thing that you just like in writing essays, you may really wish to do that and benefit from the working course of. As a truth, nearly each our shopper returns for a new essay. The Essay Dune writing team is comprised of specialists in academic writing. Each is proficient in a certain subject, and lots of are experienced within the field they’re writing for. When you order your paper, we only give the task to the individual most certified to complete it, so you possibly can ensure that you’re in succesful arms. Before we rent any writer, they should undergo a sequence of checks that examine their ability to write, fashion, and if they'll deal with stress. At EssayTigers, we take care not solely of your papers but additionally of the safety of your private knowledge. All connections are protected by SSL certificate, and all data stored on our servers is encrypted. If ordering papers online is what it takes, then it’s the right step to take. All prospects get customized content material that’s uniquely tailored to their wants. We assign a author based mostly on the order’s necessities. essay writers in particular are linked with the film production industry. Your writer will receive a payment solely after your confirmation of the particular a part of your paper. The reader should end up being happy, understanding that he discovered something new out of your essay and he simply spent quality time with it. However, it's still not clearly outlined in movie concept. Due to this, many essay films are categorised as documentaries. When you could have a thoughts map in entrance of you, you will know precisely what you are trying to attain. The essay writing course of might be much faster thanks to the minutes you spent in outlining. Take a plain piece of paper and write down all ideas that come to your thoughts. We ensure that they have valid credentials from respected universities. We retain solely the best group of superior writers who are prepared to offer of their best work. We take this critically, and that is why we've don't tolerate plagiarism. We write all orders from scratch and ensure that they are one hundred% unique. You don't have to tense while submitting your essay to your faculty tutor since we double-examine it earlier than we give you the ultimate copy. It means that our services really help individuals and in return we get belief. Some people would possibly think that asking somebody to write down his essay isn't honest and exhibits you from a nasty aspect. On the contrary, we find a answer to address to us a rational and efficient. Since in addition to getting good scores, you've extra time to learn something new and gain further expertise. In case of any mistake, we'll take the work for revision completely at no cost. It signifies that the order may be revised at no cost, for 2 weeks after the deadline if it didn’t meet the initial instructions. Because miscommunication occurs nevertheless it would not cease us from delivering nice works. Leave some house for further research and intrigue the reader to dig deeper into the topic and discover out extra about the belongings you tackled. It's an underestimated on-line source because it can be updated by the customers, but it offers great information that you need to use in your paper. That does not imply you possibly can reference Wikipedia in a tutorial paper, though. Use it to find the knowledge you need, and then find that same data in a more authoritative on-line source.

How Many Paragraphs In An Essay?

How Many Paragraphs In An Essay? We are able to share the details about our service with you. In case you want to discover the most secure way to pay for an essay right here, let our managers information you through the process. We use the world-famend payment methods to ensure security. We are identified for our unmatched quality, probably the most skilled help you’ll talk to, and the prices that fit students’ budgets. There isn't any limitation as to what you may get at this essay writing firm. Students are hiring totally different firms to see which ones allow them to achieve the most effective results. If you’re curious to learn how this industry works, you’ll be surprised with its effectiveness. You’re good with numbers and that’s why you selected this instructional path, however all of a sudden your trainer desires you to write down an essay related to a mathematical subject? In the top, though, remember that good writing doesn't occur by chance. Although we now have endeavored to elucidate every thing that goes into efficient essay writing in as clear and concise a means as possible, it's a lot easier in concept than it is in apply. Our operations are legally documented, we are simply accessible online and offline, and you'll always contact us when you have any questions. Keep observe of your order's progress by staying in touch along with your author or contacting our help team at any time, 24/7. Our writers are an old hand at correct referencing and might easily address MLA / APA / Harvard / Chicago / Turabian or any other formatting fashion. We complete all assignments from scratch, which aren't linked to any essay databases. Have you ever seen qualified writers who work quick and for low fees? Our customized writing firm has been working for greater than 12 years and always places high quality and clients’ wants first. In addition, earlier than sending your paper to you, we check it for plagiarism to make sure it has no copy-pasted elements. PaymentOnce you place your essay writing order, you'll be provided with an bill. The best method to do it's simply to click on on the payment hyperlink and follow the prompts. As a result, we suggest that you apply writing pattern essays on numerous matters. Even if they are not masterpieces at first, a bit of normal follow will soon change that â€" and make you higher ready when it comes to the real thing. Your assistant will make the necessary changes and you will not have to pay any further cash for this. If you've got placed an order and adjusted your thoughts, you can simply cancel it and get a full refund due to the cash-again assure. The confidentiality policy is right here to guard you as well. We can promise you to do every thing we can to make sure you have a constructive expertise when using EssayDoc. However, a easy promise isn't sufficient and we know it. Tutors who perceive UK writing standards will administer our help. They are properly educated within their subject of expertise. Each of them has a broad experience on tips on how to deal with pressing submission. Learners could also be penalised if composed essay include traces of similarity. Our authors double-verify to ensure non-plagiarised delivery of service. Our rates are very affordable with a comparison to our high quality of service. Our rivals may have low-cost expenses, but they cannot match our calibre. Contact our UK help group through chat or name for particulars on obtainable discounted provides. I was really tensed as a result of I needed to submit my research paper within at some point however I am actually grateful to rushmyessay.com. I was impressed by the way in which author gave particular consideration to my requirements and calls for. Your author will obtain a payment only after your confirmation of the specific a part of your paper. If this is the listing of things you have been on the lookout for, you can mark all of them if you order from us. Our firm understands that your grade depends on offering the author with as much details about your essay necessities as attainable. Check out the features we offer with each customized essay purchase. We assure your essay to be delivered on time and of the best quality. Using this writing service is authorized and isn't prohibited by any college/school insurance policies. To make you and different purchasers snug using this service, we have developed a set of ensures that ensures the security and transparency of our relationship. You might even see that we care concerning the reputation of our service. It has been in the marketplace for a long time and we have managed to win over the hearts of many college students throughout the globe. We would not find a way to do so if it was not for the belief we built with every shopper. If you propose to make use of our service for the first time, naturally, you will have some questions.

Online Essay Writers

Online Essay Writers Thank you for educating me the way to write basic essays. This has been certainly one of my most essential targets for years. You have to think about good reasons to assist your position. Remember to write down an argument essay that is to the most effective of your individual abilities. It doesn’t matter what sort of issues you might face, for the reason that a refund assure will protect your interests. Our dedicated writing experts will do their finest to have a satisfaction fee. You can’t get such stage of personalization elsewhere. So, the promise that you could “be taught at your own pace” just isn't actually true. You’ll nonetheless have a pile of homework to do, so you’ll end up asking for writing help at Proessaywriting and comparable providers. EssayJack is an interactive web platform with a patented resolution that pre-buildings scholar essays, reduces writing anxiety, and permits educator customization and feedback. Reported a lower in time taken to complete essays when utilizing EssayJack. For that cause, the refund requests tend to seem quite hardly ever, which is partly due to our strong refund assure. Every refund request that we obtain from our prospects is reviewed by our online specialists, in addition to thought of throughout the shortest attainable time period. We even provide a double guarantee of your writer’s full interest in completing the order in the easiest way attainable. Now, you'll be able to launch the payment only after the paper is delivered to you and also you approve that it’s written based on your necessities. It’s the author’s duty to get rid of any copy-pasted objects and deliver a novel paper with correct references. Yes, you might grab the paper and submit it with no fears whatsoever. Need a properly researched, written in accordance with all of your necessities and plagiarism-free paper? We use a specifically designed plagiarism detection system that runs the finished paper by way of a database of different academic papers and exposes even the slightest indicators of plagiarism. Also, you could let us select a author for you mechanically to save lots of time. My writer contacted me and rechecked my directions. A fast operation is the most effective that can happen when you're desperate for an essay. I need to say a big thank to my author who didn’t let me down the final minute. Should you be in search of your a refund, we’re ready to supply. Because we're so dedicated to studying, researching, learning, and writing, before, whereas, and after we work in your educational writing or professional project, you're the one that benefits. I ordered a few admissions right here and by no means regret it. They rent numerous tutors, so should you want a paper for right now, they'll do it. I was especially impressed with the way in which how they care concerning the customers and their orders. We don't engage in paraphrasing/rewriting practices. We deliver genuinely authentic work that’s written just for you. We discover a writer with an MA or PhD diploma within the related area of research. This author takes your instructions and develops a paper from scratch. Contact us anytime, and friendly managers will help you with anything from the order process to picking essentially the most becoming author. Here we have collected virtually every thing you needed to know about our writing service. I am feeling very satisfied with the course I've completed. This was really an exquisite experience for me to study all forms of essays in such a brief time period. I've tried several other methods of learning but your methodology worked for me. In this last module, you may learn to write the most typical kind of college essay. The argument essay is probably the most fun essay to write too. In this one, you'll attempt to convince your reader to believe your argument or place on some controversial topic. In addition, we’re confident that our providers will reside up to all your expectations and you gained’t want the money-again. Call the Support hotline or drop a line in Live chat around-the-clock. Essay writing customer support is available at our site without holidays and weekends. Choose the kind of paper, specify your subject, and add directions and materials our writer ought to use in your paper. Keep in mind that there’s a a hundred% plagiarism-free assure overlaying all clients at our web site.

Writing Essays

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How Many Paragraphs In An Essay?

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Friday, August 28, 2020

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Wednesday, August 26, 2020

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Tuesday, June 2, 2020

Study On Robecos And Its Investment Strategy Finance Essay - Free Essay Example

[Problem definition, relevance and motivation] Robecos investment strategy relies on identifying and exploiting market inefficiencies, which are a result of the predictable patterns in investors behavior. We believe we can outperform the market by locating these inefficiencies. Central in Robecos investment strategy is Robecos proprietary stock-selection model, which is used for decades and was extensively back tested in historical simulations. The outcome of this model is a cross-sectional ranking of stocks based on their expected future returns. In order to generate alpha, Robeco overweights certain high-ranked stocks in comparison to the benchmark weight and underweights certain low-ranked stocks. This ranking process is based on four factors; price momentum, earning revisions, management and value. Management + Value + Earning Revisions + Price Momentum = Stock ranking All these themes consist of multiple variables (e.g. earnings to price ratio (E/P) or book to price ratio (B/P) are variables in Value). These variables determine how attractive the stocks are and they may contain valuable information in predicting stock returns. We equally weight each theme to combine these different themes. [Problem definition] Robecos stock-ranking process focuses on the average effect of earning estimates, regardless of the quality and life of those estimates. We aim to add extra predictive power to the earning estimates b y investigating different aspects: different databases different forms: revisions, predictive surprise, growth level, recommendations different levels: consensus, individual analyst-level, extreme estimates different horizons and life of estimates We try to find out which database is better, which form performs better etc. Well look in more detail to the earning estimates with the goal to add extra predictive power to the currently used earning estimates. The overall question, which we try to answer in this thesis, is: How do we detect whose better and which estimates have better predictive quality. Well examine the predictive power of several candidates (based on the different angles) and well extensively back test these candidates; first we test the single variables and later well test the added value of the new candidates to the existing selection model. [Relevance] Robeco continuously attempt to improve the core stock-selection model, and therefore it is relevant to examine the predictive power of earnings estimates from different angles. We start defining candidates based on estimates at individual analyst-level instead of the consensus earnings estimates. More and more studies focused at the individual analyst level and illustrated the importance of analyst characteristics on the stock-prices. Some candidates based on estimates at individual analyst-level are candidates that focus on past accuracy of earning estimates, the age of the estimates, leader analysts, analyst-true call, and tenure. We also define other candidates that may add extra predictive power to the earning estimates. These candidates are based on the relative earning growth and changes in buy/sell recommendations. Furthermore, we consider different horizons and incorporate data from other financial measures in addition to earnings. [Motivation] A key distinguishing feature of our study from previous literature is that well look at the predictive power of earning estimates from different angles, while most of the previous studies give only an explanation of the abnormal returns of the earning forecasts. Data Well examine different databases with detailed information about earnings estimates: I/B/E/S Detailed database: this database is a good foundation of our research as it offers consensus level and detailed analyst-by analyst earning forecasts. I/B/E/S began collecting earning estimates for U.S. companies around 1976, while the International edition starts in 1987. Factset Estimates database: they also provide consensus and detailed-level earning estimates. They claim their estimates are of higher quality and therefore well examine this database. BETTER DATADESCRIPTION, UNIVERSE, THRESHOLD MARKET CAPITALISATION, COUNTRY, SECTOR ETC Methodology Well define some candidates to improve our current stock-selection model. First, well examine the predictive power of past-accuracy. We try to predict the direction of future estimate revisions. First well define some candidates based on specific analyst characteristics . Currently, Robeco only focuses on the average effect of earning estimates, regardless of the quality of those analysts. Therefore well examine the predictive power of some candidates based on analyst characteristics. Finally, we will examine a relative earnings growth candidate that doesnt rely on analyst characteristics but which has shown predictive power in the literature and which is easy to create given the I/B/E/S dataset. Well construct a top-bottom strategy of each candidate and we will back-test the single variables and the added value of the new candidates to the existing stock-selection model. Candidate list We start with describing a candidate list of potential factors that may help i n predicting stock returns. Because we first define these candidates we reduce data mining. Candidates based on analyst characteristics There are several candidates which well examine based on analyst characteristics. Candidate 1: Past Accuracy We start with simply look at the predictive power of past accuracy. For each analyst on each stock we measure the analysts historical accuracy, using the same measure as in Brown(2001). Brown(2001) shows that for distinguishing more accurate from less accurate earnings forecasts a simple model of past accuracy performs as well as a more complex model based on 5 analyst characteristics. Past accuracy (PAt) is defined as the individual analysts forecast error that year (FEt) minus the mean of the forecast errors of all analysts following the company that year () scaled by the mean of the forecast errors of all analysts following the company that year (): The forecast error is defined as the absolute value of the difference bet ween the actual annual earnings (A0t) and the last forecast made by the analyst for that year (LA1t). FE = |A0t|- |LA1t| We have to examine the database and the distribution of the estimates. Then we can decide which weighting scheme to use. We put more weight on analysts with more accurate estimates in the past. We can also order the estimates and take the median of the ordered set of past accuracy. Candidate 2: Forecast Age Recent estimates are more important than stale estimates. We use the same variable as used in Brown(2001). The forecast age (AGEt) is defined as the number of calendar days between the analysts last annual forecast and the fiscal year-end minus the average forecast age of all analysts following the company that year. We should give more weight to the analysts with the most recent estimate. Again we first have to examine the database and the distribution of the estimates, before we can decide which weighting scheme to use. Candidate 3: Lead Ana lyst The timeliness of analysts forecasts can be used as a proxy for unobservable skills in collecting information as leader analyst should be able to release earning forecasts before competing analysts. Cooper et al (2001) uses a Leader-Follower-Ratio (LFR). This ratio measures to which extent the analyst is a leader. Well also use this ratio to rank the stocks which are followed by these leader analysts. The Leader-Follower-Ratio is the cumulative time that a forecast revision leads to the cumulative time that a forecast revision follows: With and Where ti,1 and ti,0 is the length of time that a certain forecast revision leads or follows a given forecast revision respectively. If the LFR is higher than 1, the analyst is a leader. Cooper et al (2001) shows that forecast revisions by lead analysts are positively correlated with recent changes in stock prices. This may indicate that lead analysts have predictive power and therefore we will examine this candidate. We would expect to observe excess stock returns as investors respond to the release of revised forecasts by follower analysts. Well only focus on these lead analysts. Again, we first examine the database. Now we define variables that are based on conflict of interest. If we know the incentives for analysts to make biased earning forecasts, we can generate an abnormal return by identifying these biases. Candidate 4: Analyst true call In the research report of J.P. Morgan (2009) they focus not only on analyst forecasts that strongly deviating from the consensus but from what they call Analyst true Calls. The earnings forecasts of these analysts are already away from consensus but they move them even further away from the consensus. More weight should be given to these analyst forecasts, as these analysts are very confidential about their forecasts because they even move further away from the consensus. We use the same method as described in the research report of J.P. Morgan (2009 ): First we should find the highest en lowest earnings forecasts for the next fiscal year stock by stock. We focus on the analysts who are already away from consensus. Starting with these analysts, we filter these analysts to include only the stocks where the highest earnings forecast have been further increased. Or the lowest earnings forecasts have been further decreased (over the previous month). Thus, we focus on the analysts who make a forecast revision even further away from consensus. In the third step we create two universes: positive Analyst true calls (the highest earnings forecast is further increased) negative Analyst true calls (the lowest earnings forecast is further decreased) Rank the stocks in the two universes. We buy the stocks in the top of the positive universe and sell the stocks in the bottom of the negative universe. Disadvantage of this test: This methodology is a very strong approach. An analyst will not move further up or down every mo nth. We should test this discreteness. In the research report of J.P. Morgan (2009) they do not repeat this procedure every month. We can make this strategy more robust : Find x% of the earning forecasts in the bottom quintile and x% in the highest quintile. After a revision, we select the estimates which moved further away from consensus. Select from the estimates found in step i, x% of these estimates which are again in the bottom quintile or highest quintile. In the third step we create two universes: positive Analyst true calls negative Analyst true calls Rank the stocks in the two universes. We buy the stocks in the top of the positive universe and sell the stocks in the bottom of the negative universe. The second approach is more suitable for ranking, because not all analysts revise their earnings forecasts each month. Candidate 5: Tenure Brown(2009) shows that a strategy by buying a portfolio of firms that are followed by low-tenure analysts and selling a value-weighted portfolio of firms that are followed by high-tenure analysts earn abnormal returns. We use almost the same definition for tenure as in Brown(2009), but well use months instead of years. TENi,t = the number of months since the analyst first makes an estimate of year-ahead earnings in the I/B/E/S database. Well follow the approach as defined in Brown(2009). We rank all stocks of the firm in the analyst forecast sample based on the median value of analyst tenure. Consider a set of k ordered tenure variables of a set of analysts at a certain point in time t for stock i: TEN1,i,tTEN2,I,t.. TENk,i,t. where The median of this ordered dataset is equal to: MEDIANi,t [TENk,i,t] = ( + )/2 Where is the largest integer not greater than x, and is the smallest integer greater than x. Stocks that are followed by high-tenure analysts are in the top portfolio and stocks which are followed by low-tenure analyst are in the bottom portfolio. We can use this can didate in addition to our current earnings revisions strategy. Candidate 6: Star analyst Fang and Yasuda(2008) show that recommendation changes of star analyst are profitable. We will examine the predictive power of earning forecasts of these star analysts. We use this candidate in addition to the current earnings revisions strategy Fang and Yasuda(2008) measures analysts reputation as the All-American title that is granted by the Institutional Investor magazine. This magazine published rankings throughout the year and has been the greatest source of survey-based rankings which identifies the top analysts. They cover equity markets in Asia, Europe, Japan, Latin America, Russia and the U.S.  [1]  An analyst remains his star status for 12 months after the publication in the Institutional Investor magazine. AA elections occur in October of every year. We should match the names of the AA analysts from the Institutional Investor listings with I/B/E/S dataset. I NEED ADDITIONAL INFORMATION ABOUT THE AVAILABILITY OF THESE RANKINGS. DO I NEED TO BE A MEMBER BEFORE I HAVE ACCES TO THIS MAGAZINE? Other candidates Candidate 7: Relative earnings growth According to Da and Warachika (2009), stocks with optimistic and pessimistic long-term analyst forecasts relative to the short-term implied growth have negative and positive risk-adjusted returns, respectively. We need the earnings in the previous year (A0t), earnings forecasts for the current fiscal year (A1t) and long-term growth forecasts (LTGt) from the I/B/E/S Detailed Database. We use the same definition of implied short-term growth as in Da and Warachika (2009). The implied short-term growth (ISTGt) is defined as: The difference LTGt ISTGt is appropriate to measure the relative optimism or relative pessimism of analysts at portfolio level. Da and Warachika (2009) conduct the analysis on an earnings-per-share basis, which is also available in the I/B/E/S Detailed Database. In the paper they explain that for some firms the earnings forecasts for the current fiscal year is near zero. Therefore, they construc t a Slope variable as the difference between the rankings of LTG and ISTG. Well use the same approach. We can rank the stocks according to the Slope variable into deciles from 1 to 10 in descending order. We should buy stocks in the top and sell stocks in the bottom. Candidate 8: Changes in buy/sell recommendations Jegadeesh and Titman(2004) and Jha et al(2003) show that the change in analyst buy/sell recommendations provide a meaningful signal as they confirm the earning revisions. In Jegadeesh and Titman (2004) they examine the relation between analyst recommendations and other concurrently available public information. They find that quarterly change in consensus recommendations is a robust return predictor that appears to contain information orthogonal on this range of other predictive variables. Therefore, well use the changes in buy/sell recommendations as signals for further stock performance. Combining previous candidates to create an accurate estimate and investiga te multiple horizons, incorporate data from other financial measures in addition to earnings and use the change in buy/sell recommendation, It is reported in the research paper of Starmine(2007) that a small group of analysts usually lead the peer group and release forecast of higher quality. By following the earnings revisions of these analysts we can improve the outperformance based on consensus. They try to measure the analysts historical accuracy to better predict the direction of future estimates of earning revisions. This model put more weight on the most accurate and most recent estimates. They investigate multiple horizons, incorporate data from other financial measures in addition to earnings and they use the changes in buy/sell recommendations. We can use the basis idea of this model. How can we measure earnings accuracy? We can use past accuracy, the timeliness of the estimate (tenure) and how extreme the estimate is (Analyst-true-call). We first have to test the predictive power of the single candidates and test the accuracy of these variables. OTHER IDEAS? If we have a measure for the accuracy of analyst forecasts, we can calculate an weighted-average estimate which is better than the consensus estimate. Because we identify the individual analysts that are more likely to be accurate in the future, we can get an estimate better than the consensus. We should also look at the age of the earnings estimate. Starmine(2007) exclude analysts with stale forecasts from their analysis. We first have to examine the dataset, we can do the same, or we use a certain weighting scheme (for example exponential). If we have the estimate which is better than the consensus estimate, we can add other aspects to this estimate, as is done in Starmine(2007). We combine the Predicted Surprises (percent difference between this weighted average estimate and the consensus) and consensus changes on EPS, EBITA and Revenue for the current fiscal quarter, curren t fiscal year and next fiscal year. Then we can combine the revisions component score with the recommendation revisions component. Here you can see a screenshot of a video on the StarMine website: Back test We will first test the predictive power of a single candidate, by using the back-test. The basic idea of the back test is to sort the universes into deciles based on the candidate characteristics. Analyze results We select the most promising factors for inclusion in the current stock-selection model. Time Schedule Task Mar. Apr. May Jun. Jul. Aug. Literature review, description methodology X X Download data data check X X Test predictive power of single variables x X Test the added value of the new candidates to the existing selection model X X Further improvements X X Writing thesis X X X

Wednesday, May 6, 2020

The Renewable Energy Market in Australia Essay Example

Essays on The Renewable Energy Market in Australia Essay The paper "The Renewable Energy Market in Australia" is an outstanding example of an essay on marketing. The renewable energy market in Australia consists of the electricity consumption generated via geothermal, hydroelectric, solar, and wind means, as well as through waste combustion or wood. Renewable energy in the country is a critical part of Australia's low emissions mix of energy sources and is critical to Australia's security of energy production. It plays a significant role in the reduction of Australia's greenhouse gas emissions, greatly being of help to Australia staying on track and helping it meet its Kyoto target and even extending beyond (Australian Conservation Foundation 2007, p.12-25). The Government support for renewable energy strategizes and facilitates considerable assistance to industry development, reducing barriers to the electricity market nationally, and providing easy community access to forms of renewable energy.In Australia, wind and solar energy sources are the most harnessed on a small scale comparatively, and the two are at the stage of commercialization. However, there are other sources being investigated as well as given some consideration for instance wave and geothermal power but these are not mainly under scrutiny like the wind and solar power. It is importantly noted that Australia has an extraordinary potential for broad renewable energy capabilities. Nevertheless, this has not yet been realized fully, and Australia’s abundant resources are being utilized currently (Keith 2006, p.793). The noteworthy deployment of the respective technologies would mitigate the country’s greenhouse gas emissions substantially, as the extensive electricity generation accounts for the highest percentage of the country's emissions of carbon (Dennis 2006, p.791). There is a movement known considerably as The Transition Decade to transition of the country’s entire energy system directly to become renewable by 2020. In the ye ar 2006, Australia’s electricity production in a year was 255 TWh, with an approximated 9,500 GWh of the same from renewable sources. This is representation was less than 4% of the consumption of electricity annually (Australian Conservation Foundation 2007, p.12-25). The Australian Government in the current times has a Renewable Energy Target purely Mandatory to introduce 9,500 GWh of renewable generation in a year, based on 1997 levels by the year 2010 and would continue to 2020.There are different types of devices in the Australian market all meant for the reproduction of renewable energy. It is estimated that, over the last few years, Australia has been on the frontline in the installation of a large capacity of renewable energy. Additionally, the country installed a minuscule level of renewable energy capacity. In the year 2008, Federal and State Governments in the country were on the frontline of partially funding a few more energy projects, which also received funding from the private companies.

Tuesday, May 5, 2020

Poem free essay sample

This Is a poem for best friends. You C Margery Wang still remember the first day we met We were too shy to say much at all Its funny to think back to that time Because now were having a ball! They say that true friendship Is rare An adage that I believe to be true Genuine friendship is something that I cherish am so lucky to have met you. Our bond Is extremely special It is unique in its own way We have something irreplaceable love you more and more each day.Weve been through so much together In so little time weve shared will never forget all the moments that youve shown me how much you cared. Friends are forever Especially the bond that you and I possess love your fun-filled personality Somehow you never fall to Impress. The world could use more people like you it would certainly be a better place love everything about you You are someone I could never replace. We will write a custom essay sample on Poem or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page You are always there for me When my spirits need a little lift cannot thank you enough for thatYou are truly an extraordinary gift. You are everything to me and more could never express that enough Life is such a treacherous journey, and 1 OFF Our story will continue to grow With each passing day Because I trust that with you by my side Everything will always be Okay. You are so dear to me You know I will love you until the end I will always be there for you, and You will always (and forever) be my best friend.

Saturday, April 18, 2020

Sabir Warsame Essays (247 words) - Emotions, Hope,

Sabir Warsame Mrs. Riddell ENG 3U-22 August 1, 2017 Jimmy Santiago Bacca's View on Oppression While reading this poem by Jimmy Santiago Baca I came across this fact that the author was trying to tell us to never lose hope and keep fighting for the things you want. The author used his own personal experiences to express this statement. The powerful words he used were such as strength, unshed tears, and remembering you're a human, puts Bacca in a situation were freedom is not option and in order to escape, he must have a positive mind and attitude. This first example was pointed forward using powerful words to express his pain and emotions. This second quote "look deep to find the grains of hope, strength, and sing, my brothers and sisters" mentioned to be strong and to always have hope. Looking back at this quote, I felt that the author was sending this message to someone that he loves or he's very close to. This last quote "fiery spears will count your years, as you start into the next year, endure my brothers, endure my sisters'', shows how you much he had encouragement in himself and the reader no matter how bad the situation is. This quote shows how you should always have a positive mind set and use this as a motivation to never give up. As much as you think many things can go wrong in a situation, there will always fade away and your worries be gone. In conclusion, this poem shows the true definition and art of oppression. Sabir Warsame Essays (247 words) - Emotions, Hope, Sabir Warsame Mrs. Riddell ENG 3U-22 August 1, 2017 Jimmy Santiago Bacca's View on Oppression While reading this poem by Jimmy Santiago Baca I came across this fact that the author was trying to tell us to never lose hope and keep fighting for the things you want. The author used his own personal experiences to express this statement. The powerful words he used were such as strength, unshed tears, and remembering you're a human, puts Bacca in a situation were freedom is not option and in order to escape, he must have a positive mind and attitude. This first example was pointed forward using powerful words to express his pain and emotions. This second quote "look deep to find the grains of hope, strength, and sing, my brothers and sisters" mentioned to be strong and to always have hope. Looking back at this quote, I felt that the author was sending this message to someone that he loves or he's very close to. This last quote "fiery spears will count your years, as you start into the next year, endure my brothers, endure my sisters'', shows how you much he had encouragement in himself and the reader no matter how bad the situation is. This quote shows how you should always have a positive mind set and use this as a motivation to never give up. As much as you think many things can go wrong in a situation, there will always fade away and your worries be gone. In conclusion, this poem shows the true definition and art of oppression.

Saturday, March 14, 2020

20 Common Law Internship On-Campus Interview Questions

20 Common Law Internship On-Campus Interview Questions The on-campus interview (OCI): It has an ominous ring to it, maybe because of horror stories told by other law school students, maybe because of the pressure to do well. Almost all law schools offer some type of on-campus interview at the start of the students second year. Although your entire future may not hang on the success of your OCI, you definitely want to do well enough to proceed to the next step: the callback interview. If you manage that, your future will indeed be brighter.   You can do this, and you can do it well. In fact, you can ace it with the right preparation and if you know what to expect going in. The OCI Despite its name, the OCI may or may not actually take place on campus, but in a hotel conference room or another public facility. Its not with law school personnel, but rather with representatives of some of the foremost law firms in the area- even some outside the area. Theyre looking for the perfect students to staff their summer associate programs. And yes, that will look awesome on your resume even if your interview doesnt ultimately result in a summer  position, which is, of course, your ultimate goal.   Your meetings arent random. You must apply to your targeted firms first, and the firm will most likely receive a lot of bids. The firm then chooses who it wants to interview from among these bids. If youre chosen and if you do well, youll be invited back for that callback interview, which will most likely result in a summer job offer.   What Happens in the Law School Interview? Preparation means knowing what interview questions you can probably expect. Not every interview goes the same way, of course, so you may or may not be asked all the following questions. In a worst-case scenario, you wont be asked any of them. But you should at least have answers prepared for these so youre not caught off guard, and you can use them for ideas to branch out into other possible questions so you can prepare for those, too.   Why did you go to law school?Are you enjoying law school? What do you like/dislike about it?What classes do you enjoy/dislike?Do you feel youre getting a good legal education?If you could go back and decide whether to go to law school again, would you do it?Do you feel your GPA and/or class rank is representative of your legal abilities?Why do you think youd make a good lawyer?What is your biggest weakness?Do you like working on your own or on a team?How do you handle criticism?What is your proudest achievement?Where do you see yourself in 10 years?Do you consider yourself competitive?What have you learned from work experiences/student activities?Have you ever withdrawn from a class?What do you know about this firm?Why do you want to work at this firm?What areas of law interest you most?What types of books do you like to read?Do you have any questions? The last one can be tricky, but you are certainly entitled to ask a few questions of your own, so prepare for that possibility as well.

Thursday, February 27, 2020

Ehtnographic Study paper Essay Example | Topics and Well Written Essays - 1500 words

Ehtnographic Study paper - Essay Example Regarding the students in the entire school, these students’ ethnic background(s), language(s), ages, educational level of community members, behavioral norms and values, and socioeconomic statuses will be evaluated and thoroughly analyzed. Here we will analyze primarily the students in the entire school, with a philosophy of diversity centering upon the particular class. II. Background The ethnic mix of the learners, both in the class and in the school, is diverse. The school’s student body is predominantly African-American, although there are small amounts of other races present in the student body. The school used to be more racially diverse years ago. Regarding students’ socioeconomic status, this is diverse as well. The SES of the learners at this high school is varied, but a lot of the students tend to come from backgrounds with socioeconomically disadvantaged status. The primary language spoken is English, and in some cases, Ebonics (although not formally recognized by some as a bona fide language) is widely spoken by the student body. The type of community surrounding the school is in the city. Therefore, this school is an urban school. This school has special populations (special education, ESL/ELL, gifted). This school has a comprehensive special education program. Moreover, however, it has a large gifted population in its 7th-12th grade program. A certain percentage of the 7th and 8th graders in the Gifted program remain to go on for high school there, so there is that factor to consider, too. It is a keystone of any teacher’s philosophy of diversity that the classroom be a place of inclusiveness—whether students be Black, white, Latino, Asian, Native American, or of mixed race(s) or races not named here, and be of whatever socioeconomic status, religion, national origin, gender, sexual orientation, disability, or cultural affiliation—that students feel that they are equals in the classroom regardless of the teacher’s cultural lens. An inclusive philosophy dictates that each student should have the same opportunity to learn their subject. This includes being cognizant of striving against favoritism, especially based on gender or race. Students who are from lower levels socioeconomically should be given a fair chance to succeed by providing them with the tools they need to succeed in an environment which has typically favored the dominant culture’s hegemonic social strata. A level playing field is key. Strategies include having class materials available such as extra paper and pens. Teachers should want students of various national origins and religions to feel comfortable enough to express themselves within the dynamic of their own backgrounds. Especially with students who have ESL/ELL/bilinugal/multilingual backgrounds, teachers should want to make sure that their class is accessible to their language capabilities by supporting their learning with extra attention in order to check for understanding so that they don’t fall behind. Additionally, teachers should like to extend their help to students of different genders and sexual orientations who may suffer discrimination from other students—and try to combat that discrimination within the classroom by having an open-door policy. The teacher should wish to facilitate a learning

Monday, February 10, 2020

Compare the carnival of Barranquila with the one of Rio de Janeiro and Essay

Compare the carnival of Barranquila with the one of Rio de Janeiro and another one in the US - Essay Example This essay intends to explore the subtle and intricate differences between the carnival of Barranquilla with that of Rio-de-Janerio and that of the Atlanta carnival in the United Sates which make them unique in their respective ways. Carnival of Barranquilla is one of the biggest and popular carnivals. This carnival is renowned as one of the biggest folklores and as the most significant celebration in Colombia. The heritage of the carnival is quite ancient and its traditions originate back in 19th century. The event is marked by exotic and intense festivities and the deck of Barranquilla warmly welcomes the tourists and nationals at least forty days before the initiation of the festival. The festival is marked by its unique dance practices of paloteo of Spanish origin along with Congo dance of Africa and indigenous music and dance of mico y micas. The carnival is marked by the wide practice of varieties of Columbian music and cumbia is pertinently practiced in the carnival. The cumbia music and dance is the most important activity of the carnival and the practice of this kind of music and dance in the festival makes it unique in its essence (Sinning, â€Å"Joselito Carnaval†; Proexport Colombia, â€Å"Th e Barranquilla Carnival: The Most Colorful Carnival in the World†). The extraordinary blend of the ancient and colorful tribal dances of African origin with the accompaniment of Spanish music enriches and renders a unique quality to the festivity. Among those, the dances like porro, mapale, puya and cumbia generate the chief attraction of the carnival. The carnival initiates on Saturday and ends on Tuesday. The inception of the festival is marked by the battle of flowers which is a treat to the eyes and is unique of its kind. The finale of the festival includes mourning day and the death of the Joselito Carvajal is observed followed by the announcement of his burial (Sinning, â€Å"Joselito

Friday, January 31, 2020

Classroom - Toelf Essay Essay Example for Free

Classroom Toelf Essay Essay In general, most people tend to view things differently, even whether if classrooms environment should be interactive or not. To some people, they may think that classrooms are places where teachers lecture and the students listen. However, in my opinion, I believe that classrooms should be interactive. The following cases and examples will help support my point of view. People have different backgrounds. Students, especially in international schools, have varying backgrounds, which may result in different views. A classroom is a place for learning experiences, therefore, it is crucial that varying opinions are brought to the table. Take the example of a business class. In discussing whether or not coffee stands should be locate within the campus or outside, the teacher may Do you think that students will always understand every single thing the teacher lecture about if they weren’t allow to ask questions? In complicated classes such as math or science there are many things that usually confuse the students. It is nigh impossible for the teacher to be able to make sure that everyone understands, let alone knowing whom doesn’t what. Courage. When your kids grow up, they do not work alone. Courage is an important aspect in working with others, whether it is to lead or just to follow. In the case of Pearson Hardman, an international law firm, they seek not only people with knowledge but also people who have individuality, people who could think for themselves and are not afraid to express their opinion. Where is a better place to develop those traits than in classrooms. Classrooms where students are allowed, and encouraged, to speak out their mind. In conclusion, it is hard to make all people view things in the same way, even in the case of whether or not classrooms should be interactive. Some people may agree that it should not be because discussions may lead to the teacher not being able to teaches everything he intended to. However, to me, I strongly agree that classrooms should be interactive. The examples and cases mentioned above have supported my point of view to the best.

Wednesday, January 22, 2020

A Portrait of the Artist as a Young Man Passage Commentary :: essays research papers

Passage: Page 248: â€Å"-You made me confess the fears that I have†¦Ã¢â‚¬  – Page 249: â€Å"Cranly did not answer.†   Ã‚  Ã‚  Ã‚  Ã‚  In this passage, Stephen is saying how Cranly has made him confess all of his fears to him, but then he tells Cranly what he does not fear. Stephen tells Cranly that he does not â€Å"fear to be alone or to be spurned for another or to leave whatever† he has to leave. Stephen has gone through several stages in his life, and now that he has gone through all of those stages, he feels that he needs to go further into himself to try to discover his real self. Stephen also mentions to Cranly that he is â€Å"not afraid to make a mistake, even a big mistake, a lifelong mistake and perhaps as long as eternity too.† This shows that Stephen feels that making mistakes is fine because in the end, he will learn from his mistakes. Meanwhile, Cranly repeats the word â€Å"alone† twice to try to enforce the word to Stephen and make sure that the word stands out to him. He is trying to make sure that he understands what Stephen is really saying. Cranly also points out that the word â€Å"alone† means â€Å"not only to be separate from all others but to have not even one friend.† By saying this, Cranly is trying to point out to Stephen that if he leaves everything, he will also be leaving Cranly, who is Stephen’s best friend. Stephen replies without hesitation that he â€Å"will take the risk.† This shows how determined Stephen is to pursue art as a career. Cranly goes on, while ignoring Stephen’s last sentence, talking about how if a person is truly alone, he or she would not â€Å"have any one person†¦who would be more than a friend, more even than the noblest and truest friend a man ever had.† At this point, it is unclear about whether Cranly is addressing Stephen or talking to himself. Cranly remains quiet afterwards pondering that thought while Stephen looks at Cranly’s face for any reaction. Stephen then realizes that Cranly had been speaking of himself, and of â€Å"his own loneliness which he feared.† After some time, Stephen finally asks who Cranly is speaking of, but Cranly remains silent and does not answer. In this passage, it becomes very clear that Stephen and Cranly are two very different people despite the fact that they are best friends.