JOUR 175 Lecture 4: DATA

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harlequinplatypus737

2 Nov 2016

School

University of Maryland

Department

Journalism

Course

JOUR 175

Professor

Susan Moeller

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Document Summary

If there is a large enough group of people the company can sell the audience and force it to go to the company"s marketing first. Building an audience rivals everything that"s ever been seen before. Our digital environment has become a massive info gathering apparatus. We need to better understand how the imprint we make on the world persists. Commercial interests- that want to sell products to the growing consumer market online. Data is used to: to find the moments when we are most vulnerable to influence.

Related Questions

Conformity and obedience are forms of social influence, one of the subfields within social psychology. Conformity research addresses the influence the group majority has on individual and group behavior. Sherif and Asch conducted seminal studies on conformity. These researchers and others provide a clear picture of the influence of a group majority on the individual and factors that influence conformity. Research also provides insights into how a minority can influence a group (Fiske, 2014).

For this Discussion, review this weekâs media program, Week 6: The Virtual Office. Consider how

Conformity occurred in the virtual office and describes the conditions that led to conformity.

With these thoughts in mind:

1. A brief description of two conditions in the media that led to conformity and explain why.

Using the current literature, explain one way to alter the conditions in the scenario to prevent conformity.

Finally, provide an example where conformity might be good and explain why.

Media Reference

(Interior of the office. Carter and Teresa are talking near the coffee pot.)

CARTER: So how's the job treating you now that you have three months under your belt?

TERESA: I really like it. The hours have been great so far, and working with cardboard has been really fascinating and informative.

CARTER: I know, right? Sometimes it feels too good to be true.

(Jeannette walks toward Carter and Teresa.)

JEANETTE: Morning guys, how's it going?

CARTER: Can't complain, really.

TERESA: Just another Monday.

JEANETTE: Well, here's a bit of news to perk you up. The big boss has asked you, Teresa, to join Carter here, Brian, and myself on our client's specialty subcommittee.

TERESA: Wow, really? What does that even entail?

JEANETTE: Well the three of us have been on this group for a little over a year now. And we basically just brainstorm new client strategies to bring in new ones, and retain our good ones. But of course when I say, "we," I mean Carter and me.

TERESA: Oh?

CARTER: Yeah, have you had much interaction with Brian?

TERESA: Only in passing really. We haven't done any projects together.

JEANETTE: Well you'll see soon enough, that even when you are on a project with him it still feels like âin passing. â

CARTER: He's what you might call "unmotivated," never comes up with ideas, never volunteers to take charge. He's basically dead weight.

TERESA: Well I guess now that you mention it, I have walked passed his desk fairly often and seen him looking at a lot of non-work-related websites.

JEANETTE: Exactly. That's all he ever does. And yet, somehow, he's a notch above us on the totem pole. I've been here for five years and I could really do a lot from his position. It's just not right.

CARTER: That's true. He's really become dead weight lately. I hear he isn't helping his group at all in the packaging presentation to the board either. It's embarrassing. I mean, I know the three of us are constantly embracing the clearly stated company work culture that promotes focused and hard work, whereas he's only promoting slacking. Frankly, I think it's infuriating.

JEANETTE: That is so not fair. Maybe the three of us should all go into the boss's office and say, "Listen, we don't think Brian is pulling his weight anymore. Maybe it's time for change," and then we can just list off everything we've noticed.

CARTER: Absolutely.

TERESA: I don't know if it'd be right for me. I'm still pretty new, and haven't really had much interaction with him.

JEANETTE: Oh no, it's fine. You've seen enough, and it'll definitely sound better coming from all three of us, right?

CARTER: I think so too. It's been a long time coming. Should I set up a meeting with the boss this afternoon? Teresa, are you free around four?

TERESA: Umm, yeah, sure. I can definitely be there.

JEANETTE: Perfect. This is going to be such a relief.

(Brian walks into the break room.)

BRIAN: Morning guys.

JEANETTE, CARTER, and TERESA: Morning Brian.

(Carter, Teresa, and Jeanette turn and walk out of the break room.)

(Onscreen Text: Multiple conditions can lead to conformity. Post a brief description of two conditions in the virtual office which led to conformity to occur and why.)

Derivative

Vanguard High Yield Corporate Fund
Materials
â¢ Website information (23/05/2016)
https://personal.vanguard.com/us/funds/snapshot?FundId=0029&FundIntExt=INT
â¢ Summary Prospectus (27/05/2015)
â¢ Prospectus (27/05/2015)
Anakinâs Job
In May 2016, Anakin leaves his job in Hollywood and returned to the finance industry. It is his
first love after all and the industry appears to be picking up again after the credit crunch of
2007-2008. He applies to be the risk analyst to the fund manager of the Vanguard High Yield
Corporate Fund as his quantitative training positions him well for a job that requires ever more
numerical and computational skills over the years. His solid background in applied analytics
in business management and humble demeanour help him clinch the post without much
difficulty.
The Vanguard Group is an American investment company that has approximately USD 3
trillion in asset-under-management. It is founded in 1975 by John Bogle who created the first
index fund (tied to the S&P 500 index) in the process. After an initial lull, the index grew
rapidly along with the bull market of the 1980s. The Group has since added various financial
services and products to its core business, particularly the ETFs.
Anakin is tasked by the fund manager to become thoroughly familiar with the structure of the
fund as is documented by files provided under âMaterialsâ. After that, he is to assess the
exposure of the High Yield Corporate Fund to risks in the market. He seeks the opinion of
Darth who is a veteran market analyst with the Vanguard Guard group for over 20 years.
Outlook
Darth has this to say about the economy and fixed income market:
" The US economy is improving steadily. It will not be long before the Fed decides to raise
interest rates. Once the Fed restarts the regime of rising rates, it will about 2 years for the yield
curve to rise by 100 basis points.
Consequently, in the more stringent economic environment, companies of lower credit
qualities, namely those of Caa and below, are expected to have their credit standing further
eroded. There is a 25% chance that a Caa-rated issuer may go into default and another 25%
chance that it may be downgraded to C.
The Greek debt problem, though much stabilized than before, is still a matter of grave concern
for the Eurozone. Expect the euro to depreciate against the dollar over the course of the next 6
months. A fall of 500 pips will not be a surprise. "
Assume Anakinsâ role and answer the following questions. Questions 1 and 2 concern the
Financial Environment. The Environment at large provides the context and sets the constraints
within which financial decisions are weighed and taken. Questions 3 and 4 pertain to the task
that Anakin needs to complete.

Question 1
Describe the types of mutual funds that can be found in the market in a concise and systematic
manner, suitable for presenting to a group of investors who are high net worth and impatient.
(25 marks)
Question 2
Collect data (e.g. from the internet and/or Eikon) to plot the term structures of bond yields.
Each term structure describes the state of the fixed income market for bonds of the credit quality
corresponding to that curve. The different term structures span the space of bonds across credit
qualities and maturities.
Analyse the states of these markets relative to the shape of the curves. Compare and contrast
your analysis with current market views.
Explain your steps, present your answers and quote your sources clearly.
(25 marks)
Question 3
To better understand the structure of the fund, answer the following questions:
(a) Describe the composition of the fund.
(b) What are the risks faced by the fund according to the prospectus? Analyse the nature of
the portfolio risk accordingly and comment on whether commodity price risk and equity
price risk matter to the fund management.
(c) Discuss the performance of the fund based on the financial numbers provided.
(d) Assess the quality of the management of the fund.
(25 marks)
Question 4
The fund is affected by changes in the financial markets. When interest rates rise, the value of
the portfolio falls. Occurrences that are flagged by the rating agency to be credit events can
result in the downgrading of credit rating of bond issuers. Bonds that denominated in foreign
currency are affected by fluctuations in the foreign exchange market.
(a) Analyse generally the need for hedging the various market risks for the fund.

Take into account Darthâs outlook. Address some of these risk concerns by answering the
following question:
(b) Suppose that in the coming 2 years, the prevailing interest rates are expected to go up
by 100 basis points and you are concerned. Show how you could hedge away the
interest rate risk by using an interest rate swap, assuming that the fund by may
represented by a single 5-year par bond on the $18.4 billion net assets with semi-annual
5% coupon payments starting from the current date.
In your explanation, you may assume a scenario in which a flat yield curve increases
uniformly across all terms by 25 basis points per half-a-year.
(c) Credit default swaps may be used to ameliorate credit risk. Appraise the use of such
option-like derivative instruments in managing the risk of the portfolio by explaining
how such instruments function.

lavenderpug593

Read this Wall Street Journal article "Artifact Prices Draw Looters" and answer the questions below.

1. Does an increase in the demand for Indian artifacts cause an increase in the quantity supplied of these artifacts?

2. Does an increase in the unemployment rate result in an increase in the supply (i.e., a shift in the supply curve to the right) of Indian artifacts? Discuss the opportunity cost of time.

3. What is the effect of an increase in both the demand and supply of Indian artifacts in the equilibrium prices and quantities?

U.S. News: Artifact Prices Draw Looters --- Despite Crackdown, Thefts of Indian Antiquities Continue West of the Rockies

Author: Scheck, Justin

Publication info: Wall Street Journal [New York, N.Y] 02 Nov 2012: A.3.

ProQuest document link

Abstract: Over three months this summer, a group of rock climbers in this tiny Sierra Nevada outpost saw a man digging up what appeared to be Indian artifacts on remote federal land. Martin McAllister, a Montana archaeologist who has been performing damage assessments of looting sites for state and federal agencies for over a decade, said he believes looting is up.

Links: Linking Service

Full Text: HOPE VALLEY, Calif. Over three months this summer, a group of rock climbers in this tiny Sierra Nevada outpost saw a man digging up what appeared to be Indian artifacts on remote federal land. On several occasions, they confronted the man, and once chased him into the woods. "We said, 'Hey, dude, what you're doing is disrupting nature,'" recalled one of the climbers, Brad Perry. The climbers said they left messages at U.S. Forest Service offices. Agents later found the alleged digger, whom they declined to identify. The man acknowledged taking artifacts, including stone tools, said Rita Ayers-Vollmer, a Forest Service spokeswoman. The investigation is continuing and no charges have been filed, she said. Across the West, authorities are struggling to stop the looting of Indian antiquities. The thefts have continued despite a 2009 federal crackdown that resulted in more than 20 people being indicted in Utah. The case generated headlines due to a large number of charges, as well as the suicides of two defendants and a third man who reportedly was an informant in the case. Steep prices for artifacts and high rural unemployment have made digging for antiquities a popular pastime in places like eastern California, Nevada, and Utah, where deserts have preserved painted pots for thousands of years. Figures on artifact thefts are sketchy, said Todd Swain, a National Park Service investigator who specializes in looting cases. Most incidents never get reported. Federal agencies in the West often have only one or two criminal investigators to cover areas approaching a million square miles. In 2010, the last year for which data are available, the National Park Service tallied about 400 instances of artifact-looting in its parks nationwide, up from fewer than 300 in 2009, Mr. Swain said. The Forest Service in 2010 tallied about 50 incidents, down from about 150 the year before. Mr. Swain said the number of reported incidents can vary widely from year to year, and he estimated that as few as 20% of such thefts are reported. Martin McAllister, a Montana archaeologist who has been performing damage assessments of looting sites for state and federal agencies for over a decade, said he believes looting is up. His business is at an all-time high. "It's worse now than it ever was because the economy is depressed," he said. The looting troubles tribal members, who generally say that Indian artifacts should remain where they are. "This is our identity," said Darrel Cruz, cultural-resources director for the Washoe Tribe of Nevada and California. Mr. Cruz grew up a few miles from the Hope Valley site where the climbers found the man taking artifacts. In recent years, his tribe has encountered disturbed graves and stolen petroglyphs, he said. The Hope Valley site was the fourth looting instance Mr. Cruz has seen this year, up from two last year and the largest in his five years as cultural-resources director. Demand for Indian artifacts is strong, experts said. "The market is really incredible," said Terry Baxter, a California dealer who specializes in Western arrowheads, with some buyers paying $10,000 or more for rare ones, though most others sell for far less. Mr. Baxter and other dealers said they are careful not to sell artifacts from federal land and that they refuse questionable items. Mr. Baxter said he turned away a man earlier this year who was trying to sell an Indian skull. Missouri dealer Steve Lee said he declines one or two emailed offers a week to sell him Western arrowheads, out of concern they came from public land. Unlike Mr. Baxter, Mr. Lee said his business, which largely consists of artifacts from east of the Rockies, remains slow. But online outlets that specialize in artifacts make it easy to sell just about anything, creating an incentive to dig. Eric Keefer, an agent with the Bureau of Land Management near Bishop, Calif., said he receives about 10 looting reports a year. A couple of years ago, Mr. Keefer said, he helped investigate human remains that may have been dug up from a grave where other items were taken. One recent case from Mr. Keefer's area involved a man named Norman Starks. Mr. Starks, who is retired, said he likes to take walks around the desert in Lone Pine, Calif., and that he occasionally finds artifacts. "I've been collecting them since I was five or six years old," he said. Mr. Starks said he never digs for them. But in 2003, a federal agent found Mr. Starks digging around Indian graves, Mr. Keefer said. In 2005, the agent again found him digging, Mr. Keefer said. In 2009, Indians reported Mr. Starks was seen trying to unearth artifacts. Mr. Starks said the federal and tribal officials are "liars," a charge they deny. In 2010, a federal archaeologist said he found Mr. Starks digging near an Indian grave on land owned by the Los Angeles Department of Water and Power, Mr. Keefer said. He was tried in California state court for disturbing artifacts. The jury couldn't reach a verdict, and Mr. Starks agreed in a settlement to stay off certain lands. Subscribe to WSJ: Credit: By Justin Scheck

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JOUR 175 Lecture 4: DATA

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