![]() ![]() ![]() The shorter time frame usually creates greater emphasis on capital preservation. Our investment experience has found that most individual investors are emotional and tend to react to losses and gains differently. Using these downside risk metrics, you can make a more informed decision in terms of diversifying a percentage of your portfolio to high yield as an equity substitute. This also holds true over the last 10, 15, and 20-year periods. In the chart below we have input the returns, Max Drawdown, and Downside Deviation for the S&P 500 Total Return ETF (SPY) and the Merrill Lynch High Yield Master II Index (MLHY).Īs you can see above, through 2011 the high yield asset class has outperformed the equity market over the last 1, 3, and 5 years with a lower Max Drawdown and lower Downside Deviation. Managers with longer histories will generally have larger Max Drawdowns.Max Drawdown alone does not take into account the time to recover.Max Drawdown is only a one-time measure, and has little value in analyzing the possibility of future occurrences.Max Drawdown lets you know how bad the worst was in a given period.Max Drawdown measures the amount you would have lost at a given point in time, and allows you to determine if you are comfortable with that loss in comparison to the return.Max Drawdown is simple and easy to calculate allowing an investor to easily understand the meaning of the calculation.The calculation and understanding of the calculated number are more complexĭefinition: Max Drawdown is defined as the "Percentage loss that an investment incurs from its peak value to its lowest value in a given period."įigure 2: Max Drawdown of SPY (S&P 500 ETF) in 2011.For example, you could set the Minimum Acceptable Rate at "0" if you only want to measure the times when the returns falls below 0, or have the Minimum Acceptable Rate change to match a "risk-free" asset (i.e. Downside Deviation allows flexibility: you can change the Minimum Acceptable Rate depending on the desired risk parameters.Downside Deviation uses historical data to provide a glimpse at the likelihood and possible ranges of return when an investment under-performs.Downside Deviation isolates the negative portion of the volatility (below the red line in the chart example) to ensure that volatility to the upside does not penalize the manager/security.1 deviation encompasses 67% of the downside return occurrences 2 deviations encompass 95% of the downside return occurrences and 3 deviations encompass 99% of the downside return occurrences. After all, why should we penalize a manager for "good volatility" or upside, when an investor really only cares about his/her account loss?ĭefinition: Downside Deviation measures the price volatility of a security, but unlike Standard Deviation, Downside Deviation isolates the downside movement by only calculating the times when the price falls below a defined Minimum Acceptable Return. These risk metrics isolate downside risk parameters more precisely by measuring the downside volatility (risk) of a security or fund. However, two NOT so common risk metrics are often overlooked: Downside Deviation and Maximum Drawdown. These metrics provide a useful insight into a portfolio's risk and return characteristics and play an important role in understanding how different performance patterns impact risk-adjusted results. ![]() There are many common risk metrics for identifying superior risk-adjusted returns: Standard Deviation, Beta, Sharpe Ratio and Tracking Error to name a few. However, some of us choose to invest our monies in the security that nets the lesser return because it is considered "less risky." But how is "less risky" defined? What is the downside to each respective investment or asset class, and how can it be measured statistically to evaluate risk-adjusted opportunities?Īfter the global stock market declines of 2000 to 2002, 2008, and again in 2011, investors and advisors are re-thinking the way they define risk. All things equal, most investors would rather invest in a security (ETF, Stock, or Fund) up 15% versus another security up 10%. ![]()
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![]() ![]() Paint is a complex mixture of chemical ingredients. Every minute bit of paint is not all made up of the same molecule like (for example) pure water or pure sugar. High viscosity paint will smooth out more slowly than low viscosity paint, it will flow more slowly, and drip more slowly, and it will retain the details of a brush impression for longer.īut there's more! Paint is not made up of one ingredient. It also makes it harder for the inside of the splotch of paint to rearrange itself. The takeaway so far? Higher viscosity makes a splotch of paint harder to move around. This is actually a bit of an oversimplification - there are other properties related to viscosity that also need to present to keep paint from becoming smooth before it dries or hardens. Gravity and spreading can't pull the paint completely flat in the time it takes to dry or harden the paint. If you paint using a thick viscous impasto medium, the viscosity helps keep the brush texture in the paint, because a viscous fluid will take longer to smooth itself out than a non-viscous fluid. The individual small areas within a splotch of the thicker more viscous paint are also better at staying put. The "thicker" more viscous paint resists gravity better, and doesn't slide down the canvas - it stays put. Both of these actions affect the viscosity of the paint, along with a number of other properties. If you work with oil or acrylic paint you have probably tried to tweak the properties of the paint by "thinning it out" or by "thickening it up". Gravity moves the turpentine out of the glass more quickly and effectively because it has a lower viscosity. Which glass empties more quickly? Unless you're reading this from some alternate universe with different properties, the turpentine empties more quickly. The liquids start pouring out onto the table. ![]() A cat comes into your studio and bats both glasses onto their sides at the same time. The other is half full of stand linseed oil, a higher viscosity fluid. One is half full of turpentine, a low viscosity fluid. ![]() To visualize viscosity think about two identical glasses on a table. The "push" moving the fluid doesn't necessarily involve actually pushing (or squeezing a tube) with your hands and fingers. A more viscous fluid needs more of a push than a less viscous fluid. The "amount" of viscosity a fluid has tells you how hard you would have to push on it to keep it moving. So what is viscosity? In layman's terms viscosity is the thickness of a fluid or paste. This allowed the pigment particles to fall to the bottom. Mixing up a more fluid paint for glazing reduced the paint's viscosity. Have you ever mixed up a batch of very thin paint for a wash, and then left it overnight in a sealed container? The next day the paint may still be fluid and usable, but often the pigment will have settled to the bottom or the liquids will have separated. Sometimes we thicken the paint using wax or impasto medium so that the texture of our brushstrokes is retained. When we mix up oil paint, we sometimes make it thinner using turpentine or solvent so the paint flows more easily. ![]() ![]() ![]() ![]() One of the best Wellness business at 7776 Dublin Blvd, Dublin CA, 94568 United States. The business is listed under massage spa, massage therapist. 71 customer reviews of Relax Ave Day Spa. Thomas is new but his shoulder massage is the best although there are room to improve in other area. Relax Ave Day Spa is a Massage spa located in 7776 Dublin Blvd, Dublin, California, US. Relax Ave Day Spa 192 Reflexology Massage Therapy 60 minute hot stone massage was ABSOLUTELY AMAZING The Masseuse would periodically ask if the massage pressure was too much or if the rocks were too hot, ultimately a great more 2. Waxing 5856 Geary Blvd, San Francisco, CA Closed Silk Nails Spa 665 Day Spas. I got the Swedish massage and was extremely pleased with the service. Nail Salons Day Spas Beauty Salons Website 23 YEARS IN BUSINESS (270). I definitely recommend Relax Ave Day Spa. San Ramon, CA Relax And Slim Down Relax Ave Day Spa Orange Blossom Spa TC. A GiftRocket with suggested use at Relax Ave Day Spa is a delightful monetary cash. Great spot! I've become a regular as their multiple package prices can't be beat! And the place is ALWAYS fresh and immaculate as a day spa should be! Natwara 7 years ago Reflexology Massage Therapists Massage Services 9110 Alcosta Blvd, San Ramon. The Swedish massage was awesome, perfect amount of pressure on my tired muscles. the room was clean and they have very comfortable massage tables. Took my daughter and they fit us in on a last minute request. Ann 7 years agoĬombined the Swedish massage with a foot massage - really a peaceful and relaxing experience Tina 7 years ago View Relax Ave Day Spa (location in California, United States, revenue. Thomas was excellent and very professional. The staff were very courteous and professional. ![]() ![]() ![]() We looked at how comfortable the cameras were to handle and use, tried out any special double exposure or selfie modes and checked how quick they are to turn on, how the flash works, and how quickly the print is ready. We tried out the top contenders by using them just as you would in your own home, snapping away shots in low light and bright daylight to see how they perform, particularly checking out how well they took photos of people. How the Esquire Team Trials Instant Cameras In an age of digital scrapbooks like your iPhone camera roll or Instagram feed, there’s something refreshing about the nostalgia of real keepsakes that you can put in your wallet, pin to your wall, or stick in a commemorative photo album to remind you of the bits of that wedding that got a little, err, fuzzy. The appeal of instant cameras isn’t that they’ll give you the sharpest high-res images, it’s that experience of getting immediate, physical memories to hold in your hand. It’s the Instax range that’s the real cash cow for Fujifilm (the Japanese brand shipped over 10 million instant cameras in 2019) while Polaroid's owners resurrected the iconic boxy models too. ![]() Today, though, instant photography is no longer seen as a gimmick. Sales dwindled so much that the company quit manufacturing film in 2008. But, much like vinyl and 35mm film cameras, these analogue snappers are back and more popular than ever.īack in the Nineties, things looked bleak for the instant film market as the rise of digital photography nearly killed off Polaroid entirely. It wasn’t long ago, though, that they were almost consigned to the rubble heap of obsolete products along with fax machines, typewriters and rotary phones. You’ve probably noticed that instant cameras are making quite the comeback. ![]() ![]() ![]() ![]() I was able to get the same volume repeatedly, even during subsequent test sessions. After pulling a couple of full-bodied shots at a grind I was comfortable with, I was able to reset the double-shot program to pull just under 2 ounces in 30 seconds-ideal parameters for a good shot of espresso. Figuring out the ideal grind size to use on this machine was relatively easy, requiring only a few minutes of tinkering. The Bambino Plus has automatic presets for single and double shots, but you’ll want to program them to your specifications. So even though they’re convenient, super-automatic models aren’t the best choice if you’re actually interested in learning how to make good espresso, rather than just drinking it. But they don’t offer much room for experimentation, and they’re often quite pricey.
![]() ![]() They also are not vulnerable to sunlight. They are not attracted to blood and can eat normally like other human beings. Albanian legends state they have untamed dark or black hair and are very cunning or courageous in nature. Some traditions specify signs by which the children of a vampire can be recognized. One unique distinction between vampires and dhampirs is that a dhampir’s blood is very acidic towards vampires and can melt any part or the complete body of a vampire. According to the legend, dhampyres have the powers of both humans and vampires: they can sense a supernatural creature within a specified distance, have acute sense of sight and hearing, have regenerating abilities, immortality, can walk in sunlight (which led to the adoption of the sobriquet "Daywalker"), eat like a human, can control animals, and can be used to destroy vampires. But dhampirs, especially male, of paternal vampire descent could see invisible vampires and practice sorcery, often starting careers as vampire hunters, which would be practiced for generations from father to son. Legends state that dhampirs were, for the most part, normal members of the community. The sexual activity of the vampire seems to be a peculiarity of South Slavic vampire belief as opposed to other Slavs, although a similar motif also occurs in Belarusian legends. In Bulgarian folklore, vampires were sometimes said to deflower virgins as well. In one case, a Serbian widow tried to blame her pregnancy on her late husband, who had supposedly become a vampire, and there were cases of Serbian men pretending to be vampires in order to reach the women they desired. In the Balkans it was believed that male vampires have a great desire for human women, so a vampire will return to have intercourse with his wife or with a woman he was attracted to in life. " hawthorn"), vampirdzhiya ("vampire" + nomen agentis suffix), vampirar ("vampire" + nomen agentis suffix), dzhadadzhiya and svetocher are used to refer to vampire children and descendants, as well as to other specialized vampire hunters. In Bulgarian folklore, numerous terms such as glog (lit. In other regions the child is named "Vampir" if a boy and "Vampirica" if a girl, or "Dhampir" if a boy and "Dhampirica" if a girl. In the rest of the region, terms such as Serbian vampirović, vampijerović, vampirić (thus, Bosnian lampijerović, etc.) literally meaning "vampire's son", are used. Mythical creatures like dhampirs are widely associated with Balkan folklore. Superficially it seems to derive from the Gheg Albanian words dhamb 'tooth' and pir 'to drink'. The word dhampir is an Albanian word borrowed from Slavic vampire, from which it evolved through Albanian sound changes. This union was usually between male vampires and female humans, with stories of female vampires mating with male humans being rare. ![]() In Balkans folklore, a dhampir ( Albanian pronunciation: ) is a mythical creature that is the result of a union between a vampire and a human. Half vampire, half human creature Dhampir Groupingīalkans, the Americas, Europe, Asia, Africa ![]() ![]() ![]() Have your favorite Goldilocks delights delivered to you via Goldilocks Delivery Online. Goldilocks - Colonnade Mandaue Bakeshop Filipino,Cake,Bakery. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website. ![]() Filipino Dishes Filipino Desserts Filipino Recipes Filipino Food Chocolate Frosting Chocolate Cake Goldilocks Cakes Cake Youtube Copycat Recipes. Send delicious goldilocks cake to philippines. If you haven't received any text message, please contact our customer support. 2 Slices of Grilled Spam + 1 Longanisa Sausage (+$1), Steamed Rice, Garlic Fried Rice, or Vegan Pancit Rice Noodles (+$1), + Your choice of our 7 Ready-to-Go Signature Entres, + Your choice of side: 2 pork lumpia egg rolls, 1 ukoy vegetable fritter, 1 chicken empanadita, or 1 carioca mochi ball, Choice of 2 dipping sauces (sweet and sour or garlic vinegar). serving: 12" mocha 12" marble 12" fruity choco Shipping Delivery: Metro Manila Delivery Only. Choco and marble chiffon cake with choco buttercreme filling and fudge frosting, topped with choco buttercreme and chocolate-dipped marshmallows. Candles Christmas Ornaments Combo Gift Items Without Flowers Gift Stuff Gifts for Babies Gifts for Women Perfumes Balloons Gifts Basket Gifts for Men Gift Certificates Wellness Gifts Teddy Bear,Pillows,Dolls and Animal Stuff Otherwise you will be prompted again when opening a new browser window or new a tab. 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Menu for Goldilocks Bakeshop Imus Munchpunch Metro Manila Philippines Metro Manila Vote a location! Cut-off time at 1:00 PM Philippine Standard Time. Order Goldilocks - Pacific Mall delivery in Mandaue City Cebu now! Chocolate Caramel Decadence Cake. ![]() ![]() ![]() ![]() Continuously variable automatic box: It is similar concept as on a scooter, a variator will come to control the differences between acceleration and motor speed, they are especially slow and often be unresponsive during the acceleration phases of your Renault Kadjar.They are often equipped on luxury models. Dual-clutch automatic transmission: This is the ultimate automatic transmission, it functions on similar concept as the robotic transmission, but thanks to its dual clutch, you won’t have any more problems with slow speeds or elevated fuel consumption.We also quite often feel a coupling during deceleration. This kind of gearbox is less and less common because they are viewed as very slow. Robotized automatic gearbox: This is a manual gearbox with a robotized system that will change the driver’s action.Common automatic gearbox: It will use a torque converter, which will manage the gear changes, it’s the oldest technology, it has evolved a lot in the last decades (more gears and a better management of the gear changes). ![]() However, based on the kind of automatic transmission your Renault Kadjar is equipped with you will have more or less reliability, we will expose them to you now: Contact the automatic transmission specialists in Ware and book your Renault in for our specialist attention.Gearboxes have the benefit of being known to be reliable, as you don’t need to use your clutch pedal and everything is electronically and mechanically controlled there will be no early wear of your clutch or other components that could be put to the test by misuse on your component. Is your Renault going into ‘limp mode’ and getting stuck in third gear? Bring your Renault to the automatic transmission specialists at Stephens Engineering, we have years of experience repairing Renault gearboxes. We carry out the final road test on a cold transmission and check the control unit again for fault codes. To ensure your Renault is running smoothly, before we release your vehicle, we carry out a final road test. Once we have carried out a diagnostic check and located the problem within the Renault automatic transmission, to rectify the gearbox fault, the Renault’s transmission sump is removed and we also remove the valve body and replace the worn or damaged components.Ī repair to a Renault automatic transmission unit which has being going into limp mode and sticking in third gear, can usually can be completed in our specialist workshop one day. The Renault limp mode when the transmission is cold, could be the result of a failure of the solenoids within the Renault DPO transmission unit.Īt Stephens Engineers, with our years of automatic transmission repairs, we are able to carry out a full and detailed diagnostic to the Renault gearbox to locate the Renault DPO gearbox fault. Most Renault automatic gearbox faults brought into the workshop are a result of a pressure control problem within the Renault transmission unit caused by either the solenoids or the valve body.Ĭommonly, when a Renault with a DPO gearbox fault is brought into the workshop, a common Renault gearbox complaint is that when the Renault is running from a cold start, it will sometimes become stuck in third gear, the Renault going into ‘limp mode’. 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In 2010, Dean Tom Lauth approached Clay to help lead an effort to create a new Board of Alumni for SPIA. Clay is now a First Vice President, Financial Advisor with Morgan Stanley and leads the RM Compass group’s investment team. ![]() The RM Compass Group focuses on serving high net worth families in the areas of investment and asset management, financial planning, and risk management. After a year working as a sole advisor, he joined a senior team of financial professionals – the RM Compass Group at Morgan Stanley. David and his wife Caroline reside in New York City and have three adult children.įollowing a career in public service, Clay started at Smith Barney in 2007 as a Financial Advisor. He earned an M.P.A from Georgia State University and B.A. from Emory University where he is a recipient of the Emory Medal. He is an Adjunct Professor at New York University where he teaches international relations of the Asia-Pacific region at the graduate level. David is a Trustee of the National Committee on American Foreign Policy and a member of the Council on Foreign Relations and the Advisory Board of the Israel-Asia Center. David was a member of the Board of Governors of the American Chamber of Commerce in Hong Kong. He previously was an appointed member of the Monetary Authority of Singapore’s Capital Markets Committee and served on the Executive Board of the Hong Kong Treasury Markets Association. David was the 15th United States Ambassador to Singapore serving during the first term of the Obama-Biden Administration. He previously was a Managing Director at Goldman Sachs in Hong Kong and partner in two global law firms practicing law in New York, Washington, D.C., and Atlanta. Managing Director and General Counsel, KraneSharesĪmbassador (Ret.) David Adelman is a Managing Director and the General Counsel of KraneShares. They serve as ambassadors furthering the objectives of the Board of Visitors on behalf of the School of Public and International Affairs. They agree to provide perspective in advising the Dean on how to identify and address both immediate challenges as they arise and long-term opportunities. By joining the Board, they commit to supporting the school and to staying informed, just as the school commits to helping them stay informed. ![]() It is focused on a strategic level, advocating for the school within the University community and the public sphere.īoard of Visitors members are alumni, parents, or friends of the School with a history of significant engagement. In its work, the Board takes into account the interests of students, faculty, staff, administrators, and alumni. The SPIA Board of Visitors is an independent, self-governing body of advisors to the School of Public and International Affairs.Īcting individually and collectively, its members promote the best interests of the school, sharing high-level counsel and expertise with the Dean and with one another in a spirit of mutual respect, collaboration, and consultation. Center for International Trade and Security (CITS).Center for the Study of Global Issues (Globis).Department of Public Administration and Policy. ![]() School of Public and International Affairs.Center for International Trade & Security (CITS).Center for the Study of Global Issues (GLOBIS).Department of Public Administration & Policy. ![]() |