text:
St. Croix AVS50ULF Avid Series Spinning Rod
Price: $150.00
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TD Code
|Line Weight (lb)
|Lure Weight (oz)
|Rod Weight (oz)
|2 6
|1/32 - 3/16
Fishing is the most important thing. Whatever gets you fishing more is good. Even if she has never once had a nice thing to say about you. Or your collection of Avid Series spinning rods. Perhaps she doesnt know they are built from high-modulus SC III graphite blanks and trimmed out with Fujis Alconite Concept Guide System. She could be completely unaware they deliver a combination of strength, durability and a light, sensitive feel that makes their price downright impressive. If she knew all that, she would probably change her mind completely about your worth.
A $7.00 oversize packaging charge applies to this item as it ships in a long heavy duty tube to protect your items. This fee will still apply when discount shipping coupons are used.
|Purchase any St. Croix Rod other than a St. Croix Ice Rod, Ice Combo and receive a FREE St. Croix Khaki Logo Cap - $20.00 retail value. The FREE St. Croix Khaki Logo Cap will be added automatically to your shopping cart.
A $7.00 oversize packaging charge applies to this item as it ships in a long heavy duty tube to protect your items. This fee will still apply when discount shipping coupons are used.
St. Croix Avid AVS Series Spinning Rods Features
- Integrated Poly Curve(IPC) tolling technology.
- Premium, high-modulus SC III graphite.
- Superb sensitivity, extreme strength and durability, incredibly light and an outstanding value.
- Specialized, technique-specific and species-specific designs.
- Fuji Alconite Concept Guide System with black frames.
- Fuji SKM reel seat/gunsmoke hoods.
- Select-grade cork handle.
- Two Coats of Flex Coat slow-cure finish.
- Limited lifetime warranty backed by unmatched St. Croix service.
- Handcrafted in the U.S.A.
There are no questions or answers for this item.
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From a barn to a home; A dramatic renovation makes a modern living space
The task of building the Levine house went to cabinetmaker Larry Braverman, Levine's next-door neighbor. Levine said he was "extremely lucky" to have Braverman. When Levine asked him if he would take on the task, Braverman replied, "I'm a cabinet maker," to which Joe said, "Let's consider it one big cabinet." Levine said this was just the first of "a long relationship of doing uncommon projects together."
One of those uncommon projects was creating the guesthouse to the home, built from a salvaged redwood water tower from New York City and made to look like the original tower. The structure is two-level, with a bathroom and sauna on the first floor and a bedroom on the second floor, all of which is sitting on the foundation of an old chicken coop. It has a copper roof and an outside shower.
The interior décor of the barn is minimal. Cyphers said that when she is decorating she keeps it simple. "The internal structure is so beautiful," she said. "The post and beams are like a sculpture in itself; it's a celebratory piece that is giving gratitude to the natural environment. I'm careful not to put anything in here that would detract from that."
Levine agrees, saying, "I don't feel like we've decorated."
It's simple, clean and contemporary. The kitchen is the largest piece of furniture. It's an island that is a combination of wood and steel put together by Braverman. The staircases are steel, with a spiral stair going to one loft and a straight stair going to the other. The bathroom is made from yellow pine and cement, and the sliding bathroom door has a yellow pine frame with a translucent fiberglass panel. Everything was made off-site and installed in an effort to make everything moveable and freestanding, such as the kitchen island and the entire bathroom. This was an intentional part of the design concept, giving the owners the option to rearrange and restore the barn to its original space.
Much of the furniture is by Danish architect and designer Arne Jacobsen. The dining room chairs are from his famous Seven Series. The large dining room table was designed by Levine and built by Braverman. Other furniture was collected over the years from flea markets and auctions.
The barn has been renovated and complete for many years, but some big changes are about to come. The house is currently heated by oil and a wood stove, but in the spring, the couple will install a pellet boiler and solar panels. These will replace the need for oil, and Levine recently made the call to cut off their oil. "It's an exciting thing to sever our oil pipe," said Levine. "That was one of the best calls I've made in a long time."

subset: commoncrawl


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Remember all those movies and televisions shows you loved growing up? Well, they're even better when you add lots of hot, raunchy sex. Spoof sex movies are adult films based on the plot lines of mainstream television shows and movies, but all the characters you wanted to get busy with are wide open and ready for some action. Let your fantasies run wild as you watch your favorite characters get down and have wild and crazy sex.
From movies to shows and music videos, we have a wide selection of parodies DVDs to appeal to everyone's tastes. Spoof movies are funny too, so you're sure to have even more fun than usual while you're getting off. The perfect supplement to a night in with your partner or a great way to spend some alone time, our spoof movies are that much better when you add a toy and some lube.
Follow the yellow brick road in the porn musical parody of The Wizard of Oz or solve an orgasmic mystery with Scooby-Doo and the gang. Classics like Flashdance and Dirty Dancing get a whole new spin with an adult twist, and newer hits like Bridesmaids and Wrecking Ballz will have you chuckling, adding even more enjoyment to your mind-blowing climax. Having trouble choosing just one to watch? Our compilation DVDs combine a number of different spoofs on popular movies and television shows, providing you with all the visuals you need for a steamy night in.
With plenty of extras and bonus material, our DVDs offer hours upon hours of sexy footage. If you're looking to see your most erotic fantasies played out on screen by your favorite characters, pop in one of our spoof movies and let each scene fulfill your deepest desires. With so many naughty and lusty options, no porn category gets left behind in these movies—oral, girl on girl, penetration, anal, hardcore, group sex, and more—these DVDs will tease, please, and leave you rapt with excitement.


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The good news is this A-/B+ list mostly television actress and sometime host got her show picked up for the fall
. The bad news is that her husband has been cheating on her with a woman in his office. Very long lunches over at her place.
Does Fey have a show that got picked up?ReplyCancel
But…Amy Poehler is divorced?ReplyCancel
Amy's divorced.ReplyCancel
Maybe they are just cooking something elaborate? I know I spend at least45 minutes making my risotto; between prep and actual cooking. That doesn't include steaming any veggies or making a salad.ReplyCancel
not my tina fey
Afternoon delightReplyCancel
Didn't Tina's show just get picked up?ReplyCancel
us weekly says olivia munn now dating aaron rodgers
wonder how much his beard allowance is
girl getting paid huh?
holder still hotter
Why, @FSP, WHY?ReplyCancel
Did Maya marry a civilian? This does sound lke her. Unfortunately.ReplyCancel
Risotto too? charlie? Color me impressed. Creme brûlée and risotto posts wow! It's a bitch to make so I don't. Kinda like pad Thai. No point even attempting to make the dish when you can get it better elsewhere for me anyway.
My ADD takes over when it's too much hassle.
Idk who this could be? Off to google…ReplyCancel
Really, Sillygurl??? I've been eyeing my crock pot, wondering if I could make risotto in it!! I used to make it all the time before I had kids, but I have no time to stand around stirring a pot for 45 mins!ReplyCancel
Maya is married to director Paul Thomas Anderson so not her…This is a tough one!ReplyCancel
What about Vanessa Minnilio / Lachey and her new show Dads? Maybe giving a rating on the hubby would've given it away too easily?ReplyCancel
Jerry, Kristin! Good to "see" you.
Ladies, it's all about enjoying the process. Pour a nice glass of Cab Sav, put on some Miles Davis, and enjoy. Of course, my lack of depth perception negates my enjoyment of golf, tennis, etc so cooking is how I relax.ReplyCancel
Jerry? Why ya gotta do me like that phone?
Heeeeey, Kristin.
– that's better.
Crock Pot risotto is blasphemy. Charlie, I thoroughly enjoy the process as well–and if done correctly, the results are sublime. Cooking is my Xanax, so…ReplyCancel
Sherri Shepherd B+?ReplyCancel


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"Catholic Answers Live has been there for me, through God's infinite wisdom, and oftentimes answered questions I had been thinking about myself. Your radio program has been very instrumental in my conversion to the Catholic Faith."
~ Ross, Portland, Oregon
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Subscribe to Catholic Answers Magazine
"Jesus receive our souls."
~ The cries of children, just 5 and 6 years old, burned alive in the arms of their mothers at Miako, Japan; as reported by an English sea captain (Calendar of State Papers: Colonial East Indies, 1617-1621, p. 357).


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The 'Ed'periment by Lindsay Heim
- January 25, 2014
- From Beginning
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I remember doing this over the vent with a blanket when I wasw a kid. Snuggle heaven!
When it's very cold or very hot, Moxie likes to claim the vent near the computer. I have to convince her to share.
cool strip
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Welcome to the CRG Discussion Forum!Forum registration problems: Make sure you enter your email correctly and you check your spam box first. *Then* email KurtS2@gmail for help.
Charlie had a loaded Late 69 RS/SS with Comfortgrip Steering Wheel, I bet it had tilt as well.
The tilt column seems to be slightly larger in diameter than the hub (maybe 3/16").
Any info on tilt column diameter or hub part #s or actual diameter @ the column end of the #3937896 hub would be helpful. Thanks


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Lesia Shannon Kudelka
Communications Director and Ombudsman
(803) 896-4376
Holly Beeson
Counsel to Office of Communications
(803) 896-5216
It has come to the attention of the S.C. Contractors' Licensing Board that some contractors are receiving letters asking them to send their license renewal fees to DPR at an address in Kennesaw, Georgia. The S.C. Contractors' Licensing Board HAS NOT sent out renewal applications to its licensees.The letters being received from DPR are postmarked Tampa, St. Petersburg, Florida.
This has been reported to the South Carolina Law Enforcement Division.
If you have any questions, contact 803-896-4686.


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University News
Spring Commencement Brings Graduates and Families Together
More than 400 bachelor's degree candidates and nearly 350 professional degree candidates took part on Saturday, May 21.
Doug Weberling '72, OD '74 Named Recipient of 2016 Kamelia Massih Prize for a Distinguished Optometrist
Dr. Weberling received the honor at Pacific's spring commencement on May 21.
Professor Dave Boersema Retires After 31 Years at Pacific
The Douglas C. Strain Chair of Natural Philosophy and a distinguished university professor gave the keynote address at the university's spring undergraduate commencement.
Class of 2016 Valedictorian Bruno Gegenhuber
The biology major from Roseburg graduated summa cum laude on May 21 and is one of two students to have received a Fulbright award this year.
Exploring Options Overseas
Emily Brant '16 heads to Israel to gain hands-on experience before pursuing a master's in speech-language pathology.
Pacific University's Annual Music in May Concert Set for Saturday, May 28
Sixty-eighth annual festival to host more than 400 student-musicians from throughout the Pacific Northwest May 26-28.
Boxer Secure Wireless Service Ends May 31
University Information Services will retire the Boxer Secure wireless network on May 31, 2016.
Moodle Upgrade on June 12
We are excited to announce that Moodle will be upgraded to version 3.0 on Sunday, June 12. The new version of Moodle will provide several new features and improvements that will make the system more flexible and easy-to-use. Please note that Moodle will be unavailable in the morning of June 12 from 9 a.m. to noon while the upgrade takes place so please plan accordingly.
Dr. Kevin K. Chui Named Director of School of Physical Therapy
Chui succeeds Dr. Richard Rutt, who is retiring at the end of the academic year.
Political History of Olympics Captured in New Book by Pacific University Professor Jules Boykoff
Published by Verso Books, Power Games chronicles the modern Olympic Games' social implications.


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By Manny Encinias: Ag columnist
Beef producers in the Southwest are commonly challenged to balance forage supply and demand on their grazing operations.
While typically not documented, a tenured manager is always aware of the grazing use patterns within and across pastures on a ranch. Regardless of the year, most managers would like to get more grazing days out of a given pasture by improving grazing utilization in those areas not commonly preferred by cattle.
Pasture attributes (i.e. distance to water, slope, cross-fencing, shade/wind cover, and grass species composition, etc.) coupled with the grazing behavior of cattle provide the basis for grazing use patterns across pastures. Undoubtedly, water developments and cross-fencing provide managers long-term solutions to improve grazing distribution by cattle. However, evaluating how, when, where, and what type of supplements are delivered to cattle can provide lower-cost opportunities to change grazing behaviors, subsequently producing more grazing days and reducing overuse (i.e. grazing and loafing) of conveniently located grazing areas within a pasture.
Training cattle to the supplement of choice


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Man is set indominion over animals. The Bible tells us so; nature and experience confirmthis truth. But along with man's place of authority, God also placed a correspondingresponsibility, a task of stewardship.As such, animals are an integral part of our lives. By federal law, weeven have designated 1,250 animals as endangered because of their scarcity andimportance in our environment.
However, somepeople's take on how exactly humans ought to manifest this stewardship canborder on the absurd. Game showhost Bob Barker, a long-time advocate (and rightly so) for the responsibleownership of pet cats and dogs, lastweek endowed [2] a $1 million fund at the Duke Law School to study "animalrights law." This gift is the mostrecent in a string of such endowments by the popular host of "The Price IsRight." In a society already beset by lawsuits, Barker's encouragement oflitigation ultimately threatens to undermine the sensibility of his soundadvice at the end of every episode, "Have your pet spayed or neutered."
And some peopletreat their pet as if it were their own four-legged child. Others even confidesecrets to Fido, certain that the dog understands perfectly what the ownerreveals. There may be a bit too much attachment if, for instance, you believeyour dog is reading your mind, or if you plan vacations specifically for yourpet. Even airlines are getting into the act [3], as Israel'sEl Al Airlines in 2001 became the first international airline to introduce afrequent flyer plan for animals. Such actions may be relatively harmless, if a bit strange. But others, such asthe Animal Liberation Front (ALF), don'twant to rely on such benign measures. ALF thinks no animal should ever beconfined. So they have forcibly released from legitimate confinement as many aspossible. The FBI said the ALF has committed 600 crimes in recent years. Some activists have made disturbing headway in restricting our military fromconducting training exercises to test weapons systems where animals wereconcerned. They have used such laws as the Endangered Species Act and theMarine Mammal Protection Act to limit how troops can use their bases fortraining.The Marine Mammal Protection Act is being used to block the Navy from usinganti-submarine systems that are employed to detect the quiet diesel submarines,which are part of the armed forces of North Korea and Iran. Because theanti-sub equipment might "harass" whales and sea lions, deployment of themodern sonar system has been delayed for years. As lovely and graceful as deer are, we know they are trampling over our cities'lawns as well as our woods in increasing numbers. Unless harvested, almost anyanimal species that multiplies in overwhelming numbers will begin to starve todeath. Deer have nearly quadrupled in the past generation. The Wall StreetJournal reportedrecently that deer are destroying the nation's forests by eating seedlings,thereby preventing regeneration.
In the case ofsome animals--such as bears--they can maraud, kill livestock and eventerrorize. New Jersey's Fish and Game Council voted earlier this year to permitthe first bear hunt in 33 seasons. In their frantic search for food, the bearswere breaking into houses and attacking residents. One couple was killed by ablack bear. But the position of many contemporary animal-rights advocates, self-righteousas some are, appears questionable when we look back in history. Bird lovers, onthe other hand, have legitimate concerns. Of the 485 animal species reportedlyto become extinct since 1600, nearly a quarter of them have been birds.Undoubtedly the most notorious case of man's mistreatment of virtually anyspecies--even including the slaughter of the buffalo in the late1800s--is the slaughter of the Carrier Pigeon. This is a dramatic example of what happens when man clashes ignorantly withnature. Carrier pigeons once comprised a third of all birds in the U.S. Earlyexplorers wrote of "infinite multitudes" as much a mile in width taking hoursto pass overhead." But by the early 1900s, no wild passenger pigeon existed. In April of 1873 in Saginaw, Michigan, a continuous stream of the birds soaredbetween 7:30 a.m. until 4 p.m., it was reported. Their roosting sites wereenormous; covering five by 12 miles with so many nesting in a single tree theirweight broke the branches. Some estimates were that passenger pigeons numberedin the billions. When western Michigan was running out of lumber as its main resource, it tookadvantage of passenger pigeons as a cash crop. During 1874 one county aloneshot, trapped and sent over one million birds to markets in the East, accordingto Clive Ponting's A Green History of the World . Even these unbelievably vast flocks ofbirds (which seemed inexhaustible) could not last. Animals will always be a joy--and in some instances aproblem--depending on how we perceive them and treat them. We ought to focus on sensible solutionsfor managing wildlife and practice personal responsibility over our pets. Do we need a new generation of lawyersto protect "animal rights"?


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Division of Student Affairs & Diversity Initiatives
The Division of Student Affairs & Diversity Initiatives is a student-centered, collaborative partner with the Academic Affairs and is responsible for a variety of offices and programs which support the educational mission of the College and student life at Fisher. We focus on advocating for and addressing students' needs at the College as well as fostering a greater sense of community.
Focused on students, the Division of Student Affairs and Diversity Initiatives is a collaborative partner in the educational process. Our work complements and supports student learning, the Fisher Creed, and the mission of the College.
We promote our mission in these continuing ways:
- Cultivating a caring campus community where diversity is valued and all members are welcomed and treated with respect;
- Supporting and challenging students to develop skills that will enable growth, independence and leadership;
- Identifying, assessing, and addressing students' evolving needs; and
- Establishing and maintaining educational and physical environments that support student development and learning.
The Division of Student Affairs & Diversity Initiatives includes Campus Life, Multicultural Affairs & Diversity Programs, Residential Life, Student Conduct, and the Health and Wellness Center.


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Hey....I'm Blue and I'm new to the forums. I have a 6.5 year old boy whom I had nursed for 22 months with NO problems.
I now have a 5.5 week old daughter and I am feeling like a complete failure at breastfeeding this go around. I did have a pump (evenflo) and was keeping it on almost max and was able to pump about 7-9oz out of one breast per sitting.
I did also use a nipple shield in the beginning and she latched on ok with that too. I did buy a size 48GG nursing bra which I kind of swim in as I ordered it online. It works for me though
Here is my dilema....I am not truly aware of her EVER latching on correctly(meaning some of the areola in her mouth too) AND I was pumping at almost max when using the pump.....MY PROBLEM is that I have cuts and slits all over my nipples in a circle pattern (from doing the cradle hold and football holds to try and alternate feeding positions). I have been using the Lanisoh ointment. I just tried pumping and when I do.....the slits are stretched out and begin to bleed....some blood is ok for baby....but I don't want it in my bottled milk. So I am choosing to NOT pump until they heal.
I do still have trouble having her open enough for me to feed her(with some areola in her mouth) to "cushion" my nipple from her gnawing on it. [Can you re-train baby to latch or open mouth wider/correctly?]
I just really really need some advice....I just want to know HOW to have my nipples heal and continue to supplement her with her milk needs.
Please help if you can


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Diversity and cross-cultural issues in Tanzania
|Diversity and cross-cultural issues in [[{{#explode:Diversity and cross-cultural issues in Tanzania| |5}} {{#explode:Diversity and cross-cultural issues in Tanzania| |6}} {{#explode:Diversity and cross-cultural issues in Tanzania| |7}}]]
|In fulfilling the Peace Corps' mandate to share the face of America with their host countries, Peace Corps is making special efforts to see that all of America's richness is reflected in the Volunteer corps. More Americans of color are serving in today's Peace Corps than at any time in recent years. Differences in race, ethnic background, age, religion, and sexual orientation are expected and welcomed among our Volunteers. Part of the Peace Corps' mission is to help dispel any notion that Americans are all of one origin or race and to establish that each of us is as thoroughly American as the other despite our many differences.
|See also:
In fulfilling the Peace Corps' mandate to share the face of America with our host countries, we are making special efforts to see that all of America's richness is reflected in the Volunteer corps. More Americans of color are serving in today's Peace Corps than at any time in recent years. Differences in race, ethnic background, age, religion, and sexual orientation are expected and welcomed among our Volunteers. Part of the Peace Corps' mission is to dispel any notion that Americans are all of one origin or race and to establish that each of us is as thoroughly American as the other despite our many differences.
Our diversity helps us accomplish that goal. In other ways, however, it poses challenges. In Tanzania, as in other Peace Corps host countries, Volunteers' behavior, lifestyle, background, and beliefs are judged in a cultural context very different from their own. Certain personal perspectives or characteristics commonly accepted in the United States may be quite uncommon, unacceptable, or even repressed in Tanzania.
Outside of Tanzania's largest cities, residents of rural communities have had relatively little direct exposure to other cultures, races, religions, and lifestyles. What people view as typical American behavior or norms may be a misconception, such as the belief that all Americans are rich and have blond hair and blue eyes.
The people of Tanzania are justly known for their generous hospitality to foreigners; however, members of the community in which you will live may display a range of reactions to cultural differences that you present. We expect you to be understanding of the limited experience with American diversity that Tanzanians may display.
To ease the transition and adapt to life in Tanzania, you may need to make some temporary, yet fundamental compromises in how you present yourself as an American and as an individual. For example, female trainees and Volunteers may not be able to exercise the independence available to them in the United States; political discussions need to be handled with great care; and some of your personal beliefs may best remain undisclosed. You will need to develop techniques and personal strategies for coping with these and other limitations. The Peace Corps staff will lead diversity discussions during pre-service training and will be on call to provide support, but the challenge ultimately will be your own.
- 1 Overview of Diversity in Tanzania
- 2 What Might a Volunteer Face?
- 2.1 Possible Issues for Female Volunteers
- 2.2 Possible Issues for Volunteers of Color
- 2.3 Possible Issues for Senior Volunteers
- 2.4 Possible Issues for Gay, Lesbian, or Bisexual Volunteers
- 2.5 Possible Issues for Married Volunteers
- 2.6 Possible Religious Issues for Volunteers
- 2.7 Possible Issues for Volunteers With Disabilities
Overview of Diversity in Tanzania
The Peace Corps staff in Tanzania recognizes adjustment issues that come with diversity and will endeavor to provide support and guidance. During pre-service training, several sessions will be held to discuss diversity and coping mechanisms. We look forward to having male and female Volunteers from a variety of races, ethnic groups, ages, religions, and sexual orientations and hope that you will become part of a diverse group of Americans who take pride in supporting one another and demonstrating the richness of American culture.
What Might a Volunteer Face?
Possible Issues for Female Volunteers
The notion of gender equality as Americans understand it has been slow to take hold in Tanzania. As an American woman, however, you may be viewed as having a higher status than a Tanzanian woman. You could view this as frustrating, or you could see it as an opportunity to help change people's views. It is possible to become a role model—if Tanzanian women see another woman being given respect and functioning in a position of authority, they may be inspired to seek the same.
Of course, American women may also be treated the same way Tanzanian women are. In Tanzanian culture, men are considered the head of the household—they speak for the other members. A woman who seems to have knowledge, skills, ideas, and opinions may be viewed as pushy or out of place, or may simply not be taken seriously. Volunteers have to develop their own strategies for addressing this challenge with sensitivity.
Possible Issues for Volunteers of Color
The average Tanzanian is not exposed to the diversity of people and cultures that exists in America. If you are black, you are likely to be called Mwafrika (African); if you are Asian, Mchina (Chinese); if you are South Asian, Muhindi (Indian), and if you are European or Hispanic, Mzungu (foreigner). Be prepared to tolerate terms that are considered derogatory in America (e.g., "half-caste" or "colored"), an unfortunate part of Western culture that some may have unwittingly adopted.
African Americans are in a unique situation. While Tanzanians may voice their doubt as to whether you are "really American" (i.e., because you are not white, blond, and blue-eyed), you are likely to have an easier time integrating into the local culture than Caucasian Volunteers.
Possible Issues for Senior Volunteers
While Tanzanians generally have great reverence for age, Tanzania's legal retirement age is 60, and there is the perception that those past middle age are getting ready to "rest". Senior Volunteers will automatically be respected for their wisdom, which is a great advantage, but may be seen as oddities, especially as most Peace Corps Volunteers in Tanzania are young. Tanzanians are especially curious about older female Volunteers. They are puzzled as to why they apparently have no spouse or children (even if they have the pictures to prove otherwise) and why they would leave their extended family to volunteer in Africa.
Possible Issues for Gay, Lesbian, or Bisexual Volunteers
Tanzania is a very conservative society. Some Tanzanians deny that homosexuality exists in their culture, while others note that it is against the law. A law in Zanzibar makes homosexuality illegal, with prison sentences of 8-15 years. Thus, any display of your sexual orientation will be severely frowned upon and may affect your acceptance at work and possibly even your legal status. While physical contact between two men or two women is not uncommon, it is not likely to be sexual in nature and you should not misinterpret its meaning. Previous gay, lesbian, and bisexual Volunteers have had to be very discreet about their orientation to prevent adverse effects on their relationships with their community and co-workers. However, you are likely to find plenty of support and understanding among the Peace Corps staff and other Volunteers.
See also: Articles about Tanzania on the National Lesbian, Gay, Bisexual Peace Corps Alumni Association website at http://www.lgbrpcv.org/articles.htm
Possible Issues for Married Volunteers
Most Peace Corps Volunteers are single, but some married couples join the Peace Corps together, and in other cases, one spouse stays in the United States. Each of these situations presents its own challenges and rewards.
Possible Religious Issues for Volunteers
You are likely to be asked to share in religious observances, whether it is going to church, breaking the fast during Ramadan, burying an elder in a traditional ceremony, or simply giving thanks to God by saying "Namshukuru Mungu" or "Al-ham D'ililah" as part of your morning greetings. You do not have to participate in regular religious services to be a successful Volunteer in Tanzania, but participation in the religious life of your town or village will provide increased credibility and a sense of community for any Volunteer who is so inclined. Religion is deeply ingrained in the culture, which you will notice just by walking down a city street, where signs for churches, mosques, and madarasat (religious schools) and stickers proclaiming thoughts like, "This car is protected by the blood of Jesus!" abound. When meeting someone for the first time, Tanzanians often ask what his or her religion is.
The religious makeup of the country is roughly split into thirds—Muslims, Christians, and traditionalists. Muslims are the predominant group on Zanzibar (i.e., Pemba and Unguja islands) and along the coast because of the influence of Arab traders and the Omani dynasties, which lasted until the 1800s. Christians (largely Roman Catholics, Lutherans, Pentecostals, and Anglicans) predominate in the interior, although Christian missionaries travel and live throughout Tanzania. Traditional religions are practiced mostly in the northern half of the country by seminomadic tribes such as the Masai, Hadza, and Barabaig.
Possible Issues for Volunteers With Disabilities
Tanzanians with physical disabilities generally are treated no differently from other Tanzanians, but there is little of the infrastructure to accommodate individuals with disabilities that has been developed in the United States. That being said, as part of the medical clearance process, the Peace Corps' Office of Medical Services determined that you were physically and emotionally capable, with or without reasonable accommodations, of performing a full tour of Volunteer service in Tanzania without reasonable risk of harm to yourself or interruption of your service. Peace Corps/ Tanzania staff will work with disabled Volunteers to make reasonable accommodations in training, housing, job sites, and other areas to enable them to serve safely and effectively.


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Solty Rei
Safe Haven
Episode 15 | TV-14
Solty's feeling down and ventures into the desert, stumbling upon an old man and a kid named Will. In the city, Roy continues to wallow in a dark funk - until Miranda decides to beat him out of it.
Official Site: www.funimation.com/shows/solty-reiHide Details


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On this day: April 30
Published On: Apr 29 2013 05:40:57 PM CDT Updated On: Apr 30 2016 01:00:00 AM CDT
George Washington is inaugurated as the first U.S. president, the Louisiana Purchase is completed, Adolf Hitler commits suicide, "The Cosby Show" airs its final episode, and Chrysler declares bankruptcy, all on this day.
The views expressed are not those of this company or its affiliated companies. Please note by clicking on "Post" you acknowledge that you have read the Terms Of Service and the comment you are posting is in compliance with such terms.


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Documentary maker hopes to 'ReIGNITE' concern about HIV-AIDS, prevent spread
TORONTO - When award-winning Canadian filmmaker Paul Saltzman was first asked to produce a feature documentary on HIV-AIDS in Canada, he was intrigued by the subject but politely turned down the project, citing a lack of time.
But when the Canadian AIDS Society told him how many Canadians, especially young Canadians, were still getting infected, Saltzman was shocked. His answer to their request: "I'm in."
Thirty-one years after the emergence of the then-always-fatal disease, infections with human immunodeficiency virus, or HIV, remain surprisingly high.
As of March 2010, more than 13,500 Canadians had died of the disease. About 68,000 Canadians are living with HIV: 44 per cent of them men who have sex with men, 21 per cent who are IV drug users, and 28 per cent of them women.
In 2008, 26.5 per cent of people who tested HIV-positive were young Canadians aged 15 to 29.
But perhaps the most shocking statistic to Saltzman was that about one-quarter of people with HIV have no idea they are infected.
"The reason I'm doing this is I think it's a ticking time bomb," he said Tuesday during an interview in downtown Toronto. "It's a geometric progression: if one person is infected, that person can infect others ... And if you actually don't know you're carrying it ...
"I think it's just incredibly important to do as social responsibility. So for me, it's about my own social activism."
Saltzman is an Emmy award-winning film and TV producer-director, who has made more than 300 documentaries and dramas. His 2008 documentary feature "Prom Night In Mississippi," with Morgan Freeman, looks at the state of racial prejudice in the U.S. southern state.
In his most recent production, "The Last White Knight," Saltzman returns to Mississippi, where he was a civil rights activist during the 1960s. The film documents his encounter with a KKK member who had assaulted him during that period, exploring racism and the possibility of reconciliation.
"ReIGNITE," the title of the HIV-AIDS documentary, is an extension of Saltzman's social activism, again seen through the camera lens.
The documentary will include 15 vignettes, each roughly four to six minutes long, which will tell the stories of HIV and AIDS in Canada, today and over the last three decades since the epidemic began.
"And those vignettes would be portraits of the life and feelings and the situations around HIV," said Saltzman. "So it would be street workers, it would be people infected, people not infected, researchers, high society, low society, across religions, across ethnic groups. Because it affects everyone.
"So from my point of view, it really should reflect Canada in all its diversity by who's on camera."
Three of the vignettes have been filmed, including one featuring Evelyn Farha of Montreal, whose son Ron died of AIDS at age 36, almost 20 years ago. He had started the Farha Foundation aimed at preventing the spread of HIV, work that his mother continues to this day.
In one poignant moment, 86-year-old Farha says: "I've lived 50 years more than my son."
The other two vignettes feature a woman and her son. The woman was in a relationship with a man from New York and unknowingly got infected with HIV. She later got involved with a new partner, got pregnant and gave birth to her son. He was born infected with HIV.
Saltzman said the vignettes will give the audience a thoughtful, in-depth look at the face of HIV-AIDS. These capsules could also be shared through social media, put on kids' cellphones and disseminated to young people through schools.
"And all of them are little movies. They're all little films. They have a beginning, middle and end, and they're dramatic."
The next pieces of the puzzle involve finding the dollars to fund production of "ReIGNITE" and figuring out how to get the most exposure for the documentary's message.
The producers — Saltzman's company Sunrise Films and partner Associated Producers — would like to see "ReIGNITE" play in movie theatres, but they also hope to secure a Canadian broadcaster that would help fund the project and air it upon completion.
Saltzman also hopes to include vignettes from Canadian celebrities who could help draw attention to the documentary. He said fellow filmmakers David Cronenberg and Atom Egoyan have agreed to contribute if their "crazy" schedules permit.
"The object is to wake people up," Saltzman said.
Monique Doolittle-Romas, CEO of the Canadian AIDS Society, said the documentary is "a dream" that was sparked last year by the organization's 25th anniversary and the 30th anniversary of the HIV-AIDS epidemic.
"The Canadian story of HIV and AIDS has not been told," she said. "We have amazing pioneers, people living with HIV, researchers in Canada doing work in Canada and internationally.
"But it's not documented anywhere. We need to have this documented. We need to talk about the work we're doing here in Canada. We need to talk about it and get that information out to people."
Doolittle-Ramos agreed that the public may have become complacent about HIV-AIDS, especially since the development of antiretroviral drugs that don't cure the infection but keep people from developing potentially deadly AIDS-related infections and cancers.
Even so, not every infected person responds well to the drugs and they can cause a number of nasty side-effects for those who do.
"I don't think we talk about HIV and AIDS the way we used to," she said. "When you go back to the '80s and the '90s, there were ad campaigns, people were talking about HIV and AIDS, we received information in school. It was much more a topic of discussion.
"Unfortunately, it isn't nowadays. I think we've almost become complacent."
As to when Saltzman would like to see the project completed, he is blunt:
"That's the truth because people are getting HIV today," he said. "I'm dying to get this made and out there to save lives and illness.... This is a story that must be told."


text:
so im to be trained by Mrs Brief to defeat Gohan....
I see Stupid people!
Just bought the manga series today, have to read them again they are so awesome!
Thank you Shyama <3Everything's amazing but nobody's happy
-Louis CK
ALright so battle time
Super saiyan 3 broly or super buu
It is evenly matched, so Super Buu should have no difficult absorbing Broly.
well lets say buu didnt feel like absorbing broly
oh btw
oh god why
If Buu doesn't feel like absorbing Broly, then his regenerative powers still give him an edge.
You need more than just being stronger than Buu to beat him. You have to be significantly stronger.
Broly can't cast Deus Ex Machina, so no, he loses.
Broly is immune to ki attacks
Didn't he get Kamehameha'd into the sun?
And it's impossible to know how strong SS3 Broly is, because LSS isn't a known multiplier, and you can't count in Super Saiyans, because the strength of a Super Saiyan is based on the base power level of the person. SS Goten for example isn't worth as much as SS Goku. We don't actually know how strong base form Broly is, so without that data LSS could be even stronger than SS3 as a transformation and we would never know.
If Goku's power level increases at the same rate till the end of DBGT as it does till the end of the Frieza saga, as a SS4 Goku would have a PL of roughly 939 Quinoctogintillion. For reference that is a 260 digit number. A PL of 14,600 is required to destroy an earth sized planet. There are about 2 nonillion earths worth of mass in the universe. That means SS4 Goku can destroy the universe about 32 Octosexagintillion times over. There's a reason they made Goku a god at the end of GT.
---------- Post added 2012-10-10 at 03:58 AM ----------
---------- Post added 2012-10-10 at 04:34 AM ----------
Okay...Show of hands(those who are playing Mists of Pandaria), who flew around Jade Forest with their Red Flying Cloud to the DBZ theme?
* raises hand
not me since ive been sober off wow for some time, i just lurk for the forums for the off topic (best one around on gaming forums)
Sure looks like he could kick my ass.


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2012 Year-End Screens Review: Investors Caught in Political Cliffhanger
by Wayne A. Thorp, CFA
Politics played a key role in the markets this year. First, there was the presidential campaign and election. Then, political gridlock reigned on Capitol Hill, as the country faced a possible year-end fiscal cliff of expiring tax cuts and automatic budget cuts.
By the time you read this article, we will know whether Congress and the president were able to come to an agreement regarding taxes and spending cuts or if the Budget Control Act of 2011 will go into full effect. If the latter happens, taxes will go up for many Americans, while massive spending cuts in the federal budget will be automatically triggered by Congress' sequestration rules. Serving as a backdrop to the political drama at home is a global economy that is still in the fragile stages of a recovery.
If you didn't know any better, you may think that this gloom and doom would have wreaked havoc on the markets and portfolios alike. However, the markets roared out of the gates to start the year, as the S&P 500 index gained almost 13% through April 2, 2012. The index subsequently gave up nearly 10% before finding a bottom on June 1, 2012, and rebounded 14.7% by September 14, 2012. The end of summer and the final stretch of the presidential campaign saw the S&P 500 lose nearly 8%. But once the dust settled and the market digested the election results, the index gained a modest 4.8% between November 15 and December 7, 2012. Year-to-date, through December 7, 2012, the S&P 500 is up 12.8% on a simple price-change basis, excluding dividends. For an election year, investors should be more than pleased with these results. According to Ned David Research Inc., the S&P 500 has averaged a 7.5% gain during an election year since 1900.
Overall, the AAII stock screens have fared reasonably well. Of the 64 we currently track at AAII.com, only 11 are currently down for the year. Conversely, 26 have outperformed the S&P 500 year-to-date. The median, or midpoint, price increase for all the screens is 10.0%. None of the screens is having a 'best' or 'worst' year since we started testing these strategies in 1998.
The Rankings
Table 1 provides summary performance and volatility statistics for the stock screens we track on AAII.com. All of these screens have been created using AAII's fundamental stock screening and research database program, Stock Investor Pro, and most of them are pre-built into the software. (The exceptions are the Dogs of the Dow and Dogs of the Dow: Low-Priced 5 screens.)
Table 1 presents the price change performance (excluding dividends and transactions costs, time and price slippage, etc.) for the various stock selection strategies. The screens are grouped by style to identify their underlying premise. These style groups are: value, value with price momentum, growth, growth with price momentum, growth and value, growth and value with price momentum, earnings estimates and specialty.
The AAII stock screens are ranked in Table 1 in descending order by their year-to-date price performance through December 7, 2012, within each of their style groups. At the bottom of the table, you will also find performance data for several market indexes and averages.
Impact of Dividends
The Price Gain and Average Annual Price Gain columns in Table 1 represent the annualized percentage gain or loss realized by a hypothetical portfolio invested in the stocks passing a given screen over varying time periods between January 1, 1998, through December 7, 2012.
However, these performance numbers do not include dividend payments or dividend reinvestment. Therefore, the results for large-cap strategies, such as the Dogs of the Dow (in the value category), do not benefit from dividend payments or reinvestment.
Currently, the 10 stocks that make up the Dogs of the Dow have an average dividend yield of 4.0%; investors holding shares in these stocks would, therefore, have a higher annual return by approximately this amount.
Top Performer of 2012
After a rare annual decline last year, the Piotroski: High F-Score screen rebounded strongly to be the top-performing screen for 2012. This low-price-to-book-value strategy developed by Joseph Piotroski, an accounting professor from the University of Chicago, saw its simple price gain return jump 93.9% this year through December 7.
The price-to-book-value ratio is calculated by dividing price per share by book value per share. Book value per share is determined by subtracting total liabilities from total assets and then dividing the result by the number of shares outstanding. It represents the value of owners' equity based upon historical accounting decisions. The price-to-book-value ratio essentially compares the market's assessment of company value to an accountant's assessment of a company's net worth.
The AAII Piotroski screen starts with stocks that have price-to-book-value ratios ranking in the lowest 20% of the entire Stock Investor Pro database. There are many studies indicating that a portfolio of low price-to-book-value stocks generally outperforms portfolios of stocks trading with high price-to-book-value ratios. Piotroski found that most of these stocks were neglected firms or financially troubled firms. He found that either situation can create buying opportunities—after checking on financial strength—especially when studying smaller-cap stocks.
Piotroski developed a nine-point scale that helps to identify stocks with solid and improving financials. Profitability, financial leverage, liquidity and operating efficiency are examined using popular ratios and basic financial elements that are easy to use and interpret. In order to pass the Piotroski: High F-Score screen, a stock must pass eight of these nine financial tests.
Number of Holdings and Turnover
Ideally, we would like to see an investment methodology provide an adequate number of investment choices and be fully invested over time, so stellar returns are not based on only a few periods of outperformance. Unlike the top-performing AAII stock screens of the last few years, the Piotroski: High F-Score screen had passing companies each month. At the far right of Table 1, under Monthly Holdings, we report portfolio holdings over time—the average number of stocks passing a screen each month since we began testing in 1998. Historically, the Piotroski: High F-Score screen has generated, on average, 23 passing companies a month.
The Turnover % column under Monthly Holdings in Table 1 gives you an idea of how many stocks "fall out" of a given screening strategy month-to-month. Our backtesting methodology has each portfolio being rebalanced at the end of each month. Only those stocks passing a screen from one month to the next are kept in the portfolio. If a stock fails to pass the screen the following month, we assume it is sold from the portfolio. The lower the percentage turnover, the greater the likelihood that the same stock will pass a screen in subsequent months. The performance figures we quote for all the screens we track on AAII.com do not take into account, among other things, transaction costs such as commissions or bid-ask spreads. While commissions on stock transactions, especially when using an online discount broker, are small, higher turnover strategies will still incur higher overall transactions costs, which will have an adverse impact on your investment performance.
The Piotroski: High F-Score screen has averaged monthly turnover of 23.5% since the start of 1998, meaning that slightly less than one-quarter of the stocks in the hypothetical portfolio are new each month. For all screening methodologies tracked by AAII, the median monthly turnover is 32.7% over the testing period.
Generally speaking, value-oriented strategies tend to have less portfolio turnover compared to those focusing on growth. Adding price momentum elements to a methodology also tends to increase the overall portfolio turnover. The nine financial tests of the Piotroski: High F-Score screen are strictly based on annual financial statement data, which only changes once a year. The price-to-book-value requirement is partly reliant on price, but does not lead to the same turnover as true price momentum elements such as price change and relative strength.
Measuring Volatility
While performance is an important consideration when selecting an investment approach (in this case, selecting a stock screening strategy), you need to also consider the risk of the stocks passing a given screen. By considering both the risk and return of an investment methodology, you ensure that you are properly compensated for the level of risk you are assuming.
The Monthly Variability columns in Table 1 report the greatest monthly percentage increase and loss since the beginning of 1998 as one indication of volatility.
The Piotroski: High F-Score screen's best single month over its history has been 43.1%, which came during April of 2009, while its worst single-month loss has been –42.0%. By means of comparison, the most the S&P 500 has gained in a single month since the start of 1998 was 10.8%, which came during October of 2011; the index's largest single monthly loss was –16.8%.
The Historical Annual Risk & Return columns offer additional measures of portfolio volatility and risk/return profiles over the study period from the start of 1998 through December 7, 2012. The risk index compares the variability of returns, as measured by the standard deviation of return, for a given stock screening strategy to that of the volatility of a benchmark, in this case the S&P 500. Standard deviation is a measure of return volatility computed using monthly returns since the beginning of 1998. The risk index divides the standard deviation of a strategy's return by the standard deviation of return for the benchmark. The risk index provides a relative measure of risk by comparing the variation in return for a screen since the beginning of 1998 to the typical variation in return for the benchmark index. The risk index of the S&P 500, therefore, is 1.00; methodologies with a risk index below 1.00 are below average in risk. For example, the Graham—Defensive Investor (Utility) (in the value category) screen has a total risk index of 0.89, meaning the approach is only 89% as volatile as the S&P 500 historically.
What It Takes: The Investment Characteristics of the 2012 Winners
Table 2 presents the current characteristics of the top- and bottom-performing screening strategies for 2012, as well as the risk-adjusted winners and losers since the start of 1998.
Compared to last year, this was a relatively good year. Whereas in 2011 only 22 of the 63 screens we tracked ended the year with a gain, this year 53 out of a total of 64 screens are up year-to-date as of December 7, 2012. The average gain for the selection methodologies we track is 10.9% year-to-date, while the median is 10.0%. By comparison, the S&P 500 large-cap index is up 12.8% through December 7, 2012.
While none of the methodologies achieved an all-time high single-year gain, 25 did outperform their historical average annual returns.
Market Capitalization
The median market capitalization (share price times number of shares outstanding) of the stocks that make up the major S&P indexes are:
- S&P 500 index, $12.4 billion;
- S&P MidCap 400 index, $2.7 billion; and
- S&P SmallCap 600 index: $750 million.
Among the top 2012 performers, two currently have passing companies with median market capitalizations that fall squarely into the small-cap, if not micro-cap, category: Piotroski: High F-Score ($184.9 million) and Foolish Small Cap 8 Revised ($195.5 million). Generally speaking, small-cap strategies fared better in 2012 than large- and mid-cap strategies, as measured by the S&P market-cap indexes.
Looking at the price-earnings ratios (price divided by trailing 12-month earnings per share) for the stocks currently passing the top-performing screens for 2012, the Piotroski: High F-Score stocks have a median price-earnings ratio of 4.5. This is roughly a quarter of that of the median value for all exchange-listed stocks currently in the Stock Investor Pro database (16.4). Another of this year's top performers, Murphy Technology, has a median price-earnings ratio (8.1) that is half that of the typical exchange-listed stock. Neither of these screens explicitly looks for stocks with low price-earnings ratios. The Foolish Small Cap 8 Revised screen looks for profitable and rapidly growing small companies with above-average price momentum yet that are reasonably priced and have effective management; the stocks in this screen have a median price-earnings ratio of 12.9. Although the Templeton screen has a price-earnings ratio that exceeds that of the typical exchange-listed stock (21.3 versus 16.4), it also has a value element. In order to pass the screen, a company must have a current price-earnings ratio that is less than the five-year average. The screen also eliminates stocks that have had "extreme" price-earnings ratios over the last five years.
Since the Piotroski: High F-Score screen looks for stocks that are in the bottom 20% of the entire universe in terms of price-to-book ratio, it is probably not surprising that it has the lowest median price-to-book ratio of 0.56. This is 60% lower than the median price-to-book-value ratio of 1.46 for the typical exchange-listed stock.
Looking at the valuations of 2012's worst-performing strategies, we find mixed results when it comes to price-earnings and price-to-book ratios. Two of the five screens—MAGNET Complex and T. Rowe Price—did not have any passing companies at the end of November. The MAGNET Simple screen, which ironically was one of 2011's best-performing screens, does have a value element to it even though its 34.5 median price-earnings ratio doesn't reflect it: The screen looks for stocks with a forward price-earnings ratio that is no more than half that of the forecasted earnings per share growth rate for the next three to five years. This screen also has the highest median price-to-book ratio among the worst performers at 4.01. In contrast, the Graham—Enterprising Investor Revised screen has a very reasonable median price-earnings ratio of 7.8. This screen looks for unpopular dividend-paying companies with low price-earnings and price-to-book ratios that are exhibiting positive earnings and have a reasonable amount of long-term debt relative to net working capital (current assets less current liabilities). Earlier this year, we modified the original Graham—Enterprising Investor screen to make it a most investable approach by loosening its price-earnings ratio requirement to those stocks in the bottom 25% of the stock universe instead of the bottom 20%. The result was an increase in the average number of passing companies (10 versus four) with a better average annual risk-adjusted return since 1998 (14.4% versus 12.2%). For this article we present the results of both the original Graham—Enterprising Investor screen and the revised screen, but starting with the January update to the AAII Stock Screens area, we will only be tracking the revised screen.
The ratio of price-earnings to earnings per share growth is called the PEG ratio and attempts to balance the trade-off between price-earnings ratios and earnings per share growth rates. Investors are willing to pay more for current earnings when there are reasonable expectations of growth and higher earnings in the future.
One way to compute the PEG ratio is to divide the normalized price-earnings ratio (price divided by the consensus earnings per share estimate for the current fiscal year) by the estimated earnings per share growth rate for the next three to five years. Normally, companies with PEG ratios near 1.0 are considered fairly valued. Ratios above 1.5 may indicate overvalued stocks, and ratios below 0.5 potentially indicate attractively priced (undervalued) stocks.
Looking at this year's top-performing methodologies, we find that the Piotroski: High F-Score has a PEG ratio that is above that of the typical exchange-listed stock, while three are below (the one company that passed the top-performing Foolish Small Cap 8 Revised screen at the end of November did not have an estimated PEG value). Interestingly enough, the three worst-performing screens that had passing companies at the end of November all have median estimated PEG ratios that are below that of the typical exchange-listed stock.
Relative Strength
The relative strength figure in Table 2 is calculated against the performance of the S&P 500 ETF (IVV), which is used as a proxy for the S&P 500 index. Stocks with performance equal to that of the S&P 500 over the last 52 weeks have a relative strength of 0%. A relative strength value of 13% indicates that the stock outperformed the S&P 500 by 13%. Negative numbers indicate underperformance relative to the index.
The Oberweis Octagon screen, with 14 passing companies at the end of November, has a relative strength of 37% over the 52 weeks ending December 7, 2012. This means the typical stock held in this portfolio has outperformed the S&P 500 by 37% over this period. Only one of the stocks currently in the portfolio—Focus Media Holding Limited (FMCN)—has underperformed the S&P 500 over the last 52 weeks, and only by 1.9%. Consumer Portfolio Services Inc. (CPSS), a subprime auto loan provider, has outperformed the S&P 500 by nearly 360%, thanks to its 427.6% price jump over the last year. Both the Piotroski: High F-Score and Murphy Technology screens have stocks currently satisfying their criteria that have underperformed the S&P 500 by 13% over the last year. Ironically, the second-worst-performing AAII stock screen for this year—MAGNET Simple—has a relative strength of 93%, meaning that its two passing companies have outperformed the S&P 500 by an average of 93% over the last year.
Winning Characteristics
When looking at those strategies that have achieved long-term success, several common factors are apparent:
- Low multiples (price-earnings, price-to-book value, etc.), on a relative rather than an absolute basis;
- An emphasis on consistency of growth in earnings, sales or dividends;
- Strong financials;
- Price momentum; and
- Upward earnings revisions.
For a more in-depth discussion of the characteristics of successful investment strategies, see John Bajkowski's article, "Constructing Winning Stock Screens," in the December 2012 AAII Journal; it is also available in the Stock Screens area of AAII.com.
—Wayne A. Thorp, CFA
The 2.02 risk index value for the Piotroski: High F-Score indicates that, since the beginning of 1998, the monthly variability of returns for the stocks held in this portfolio has been twice that of the S&P 500. This places the Piotroski: High F-Score screen as the 10th-riskiest screen among the 64 AAII tracks. It also has the highest risk index among all value strategies. Among all AAII stock screens, the median risk index value is 1.49. This means that the typical stock screen tracked by AAII has 49% more volatility than the S&P 500.
Overall, only three AAII stock screens have a risk index less than 1.00, meaning their risk or volatility is lower than that of the S&P 500. These screens are:
- Graham—Defensive Investor (Utility) (in the value category), 0.89;
- Dividend Screen: Non-DRPs (in the growth & value category), 0.91; and
- Dividend (High Relative Yield) (in the growth & value category), 0.95.
Risk-Adjusted Returns
Another way of considering the risk of a strategy is by calculating a risk-adjusted return. When adjusting returns for risk, strategies with high returns that have above-benchmark standard deviations will have their returns proportionally lowered, and strategies with below-benchmark standard deviations will have their returns adjusted upward proportionally.
Risk-Adjusted Winner
Ranking the 64 AAII stock screens by their risk-adjusted return over the period from January 1, 1998, through December 7, 2012, we see that the Estimate Revisions: Up 5% (in the earnings estimates category) remains the top-performing strategy since inception, with an average annual price gain of 18.0%.
The screen looks for companies tracked by at least four analysts that have not had any downward revisions over the last month in their earnings estimates for the current and next fiscal year and have had at least one upward revision. Furthermore, the revisions to the average estimate must be significant enough to increase the consensus estimates for both the current and next fiscal years by at least 5% over the last month.
Calculating Risk-Adjusted Return
The formula for calculating the risk-adjusted return is as follows:
Margin Rate + (Benchmark Std Dev ÷ Portfolio Std Dev) × (Portfolio Return – Margin Rate)
- Margin Rate = margin rate (the rate at which you borrow funds); we use 4% for our calculations
- Benchmark Std Dev = standard deviation of the benchmark, in this case the S&P 500 index
- Portfolio Std Dev = standard deviation of the portfolio of stocks passing a given stock screen
- Portfolio Return = return of the portfolio invested in the stocks passing a given stock screen
This calculation assumes that the portfolio return for a given stock screen is higher than the margin rate. If it isn't, the risk-adjusted return calculation would be as follows:
Margin Rate + (Portfolio Std Dev ÷ Benchmark Std Dev) × (Portfolio Return – Margin Rate)
Following this methodology, we calculated the risk-adjusted returns since inception for all the AAII stock screens.
The strategy's non-risk-adjusted gain of 28.6% per year on average since the beginning of 1998 is also the highest among all the screening strategies we follow. The Estimate Revisions: Up 5% screen has an annual standard deviation of 28.6%, versus 16.2% for the S&P 500, giving the screen a risk index of 1.76. This means it is 76% more volatile than the large-cap index.
One approach whose risk-adjusted return benefits greatly from its low risk relative to the other AAII stock screens is the P/E Relative screen (in the earnings estimates category). This screen ranks 16th in annualized return since the beginning of 1998. However, with a risk index of 1.13—meaning it is only 13% more volatile than the S&P 500—its risk-adjusted return does not suffer as much as the typical AAII stock screen, which has a risk index of 1.49. In fact, 11 of the 15 screens that ranked higher than the P/E Relative screen based on annualized gain since inception had a risk index greater than 1.5. As a result, many of these screens saw their risk-adjusted returns drop significantly.
Risk-Adjusted Loser
An extreme example of where a high risk index adversely impacted a screen's risk-adjusted performance is the MAGNET Simple methodology.
The screen begins by looking for stocks with forward price-earnings ratios that are no more than half of the projected earnings growth rate for the next three to five years (a forward PEG ratio of no more than 0.5). From there it requires sales growth over the trailing 12 months to be at least 15% and, finally, relative price strength over the last 13 and 26 weeks to rank in the top 10% of the overall stock universe.
Behind the Scenes of the Top 2012 Strategy
The Piotroski: High F-Score screen turned in a dominating performance in 2012 with a 93.9% price gain year-to-date through December 7, 2012. In a year where 53 out of the 64 AAII stock screens generated positive gains, no other approach came close. However, when evaluating the performance of a given approach, it is useful to look beyond the simple gain/loss data and examine the individual stocks that contributed to the overall return.
Unlike some of the other top-performing AAII stock screens in recent years, the Piotroski: High F-Score screen was fully invested throughout 2012, meaning that at least one stock passed the screen each month. In a year where value-oriented approaches fared better than growth approaches, the Piotroski: High F-Score screen benefited from finding undervalued or neglected firms (as indicated by their low price-to-book-value ratios) that also satisfied several measures of financial strength.
The Piotroski: High F-Score screen starts by isolating stocks with price-to-book value ratios that rank in the lowest 20% of the entire stock universe. Then, using a nine-point scale to identify stocks with solid and improving financials, passing companies must satisfy at least eight of the nine tests. Prior to 2011, we had required passing companies to satisfy all nine financial strength tests, but we found that this severely limited the number of passing companies. Relaxing the screening requirements led to more passing companies without hurting performance too severely.
As a result of the relaxed standards, the Piotroski: High F-Score screen held a total of 17 stocks throughout 2012, averaging nearly five holdings per month. Historically, the strategy has averaged 23 stocks per month—tying for 17th place among all AAII screens in terms of the highest average number of passing companies. When following a given strategy, spreading your investment around more stocks will lower your volatility, as investing in a small number of companies makes a portfolio more susceptible to individual stock price movements. The 10 AAII stocks screens that average the lowest number of passing companies each month are at least 50% more volatile than the S&P 500 index. That is not to say that the Piotroski: High F-Score screen isn't volatile. With a risk index of 2.02, the screen is 102% more volatile than the S&P 500, placing it in the top 10 of all AAII screens in terms of volatility. But looking at its historical performance, much of that volatility has been to the upside.
Table 3 presents the 17 stocks that passed the Piotroski: High F-Score screen in 2012, as well as their performance while they were held in the hypothetical portfolio, the number of months the stock was held this year and select current financial data.
P&F Industries Inc. (PFIN) was the best-performing stock that passed the screen in 2012. It was held in the portfolio for 10 of the 12 months of the year and gained 88.8% in that time. The company manufactures or imports air-powered tools for the industrial, retail and automotive markets and various residential hardware such as kitchen and bath hardware, fencing hardware and door and window hardware.
Three of the 17 stocks held in the Piotroski: High F-Score portfolio during 2012 suffered losses, with Pro-Dex Inc. (PDEX) losing 16.8% and Renewable Energy Group (REGI) falling 17.2%. Both stocks were held for six months, but Renewable Energy exhibited wild price fluctuations. After passing the screen for the first time at the end of June, the producer of biodiesel saw its stock fall 33.4% in July, only to rebound by gaining 7.5% in August and another 25.6% in September. This was followed by a 26.2% loss in October and a 20.1% gain in November.
The 2012 results for the Piotroski: High F-Score screen build on its historical record of strong performance. Its annual average price gain since the beginning of 1998—26.5%—places it second among all 64 AAII stock screens. On a risk-adjusted basis, it slips one spot to third overall with an average annual return of 15.1%.
This screen's average annual price gain since the beginning of 1998 is 21.5%, placing it sixth among all AAII stock screens. However, its risk index is the highest for all AAII screens: At 2.92, it is 192% more volatile than the S&P 500. As a result, the annual risk-adjusted return for the MAGNET Simple screen is only 10.0%, dropping it to 25th place among the 64 screens we track. This means the strategy's price performance has not been high enough to adequately compensate for the level of risk relative to other AAII screens.
The AAII stock screens are not intended to be buy or recommended lists. Instead, they allow investors to see how different investment strategies perform over varying market conditions. Since market conditions change, it is important to be adequately diversified to weather the ups and downs of the market.
One way to achieve sufficient diversification is by using multiple stock screening methodologies to help you select stocks. However, it is not enough to simply choose those strategies that have the best long-term performance. Instead, it is useful to understand the forces influencing both the overall market and a strategy's performance, and how changing economic conditions can impact both the market and individual stocks. Examining the characteristics of an investment methodology may reveal some practical problems you can face when trying to translate quantitative stock screening in real-world portfolio building.
Something else to keep in mind is that once you decide on which methodologies to follow, you cannot just let the quantitative screens choose your stocks.
Screening is a multi-step process. The first step is to apply the quantitative filters to the stock universe to help you arrive at a set of candidates that all share the same base set of characteristics. This doesn't necessarily mean they are all good investments. It is important to take your list of passing companies and, at a minimum, perform some cursory qualitative analysis to decide whether or not they are right for your stock portfolio.
The AAII Stock Screens
AAII has been developing, testing, and refining a wide range of screening strategies over the years. Many of the screens follow the approaches of popular investment professionals, while others are tied to basic principles of investing. These approaches run the full spectrum, from those that are value-based to those that focus primarily on growth, while most fall somewhere in the middle.
Screens following the approach of an investment professional do not represent their actual stock picks. The rules of each screen are defined by our interpretations of their respective investment approaches. The results of the screening strategies, as well as the criteria for each screen, are programmed into the Stock Investor Pro program and are also posted in the Stock Screens area of AAII.com.
Each month over 60 separate screens are performed using AAII's Stock Investor Pro and the current companies passing each individual screen are reported. Stock Investor Pro subscribers can perform the screens themselves, while AAII members can access the screening results by going to the Stock Screens area of AAII.com (www.aaii.com/stock-screens). The results are usually posted to the site in the middle of each month using data from the previous month's end.
The performance of the stocks passing each screen is tracked on a monthly basis. The month-to-month closing price is used to calculate the return, with equal investments in each stock at the beginning of each month assumed. The impact of factors such as commissions, bid-ask spreads, cash dividends, time-slippage (time between the initial decision to buy a stock and the actual purchase) and taxes is not considered. This overstates the reported performance, but all approaches are subject to the same conditions and procedures. Higher turnover portfolios would typically benefit more from these simplified rules.
Sell rules are the same as the buy rules: The screens are simply reapplied using each subsequent month's data. Thus, a stock is sold (no longer included in the portfolio) if it ceases to meet the initial criteria, and new stocks are added if they qualify.
Stocks that no longer qualify are dropped even if the strategist behind a particular approach suggests different sell rules versus buy rules.
R Dombrowski from NY posted over 3 years ago:
Printable as a PDF doesn't work when there's an embedded excel file that must be scrolled.
Wm Schauweker from MA posted over 3 years ago:
I've seen variations on the following several times in AAII pubs: "It is important to take your list of passing companies and, at a minimum, perform some cursory qualitative analysis to decide whether or not they are right for your stock portfolio."
Can you point to some more specific recommendations?
Jean Henrich from IL posted over 3 years ago:
R - the "Download Printable PDF" link brings up the Journal pages as laid out in the hard-copy print version that is sent in the mail, so the embedded excel files are not a factor. It's only the "printer-friendly" version that will not show the entire excel tables.
Wm - for guidance on analyzing a stock, see the Investor Classroom area of the website at www.aaii.com/classroom. Scroll down to "How to Choose a Stock" for a simple worksheet and "Digging for Gold: What the Financial Statements Reveal About a Firm" for an explanation of stock data and how to use it.
--Jean at AAII
Robert Koch from MO posted over 3 years ago:
Under "Winning Characteristics," there appears, "Low multiples (price-earnings, price-to-book value, etc.), on a relative rather than an absolute basis." My question is, Relative to what--the general market, a specific industry, historic multiples? Or doesn't it matter?
Everett Senter from HI posted over 3 years ago:
I'm considering investing in this portfolio, but it might be best to wait until the rebalancing since the last year has been so good. That is, with a lot of gain there would normally be more potential for loss than right after a re-balancing. When is the next re-balance scheduled?
Juan Ortega from TX posted over 3 years ago:
Thanks for the good wook . Today is a buyes market.
Eliza Westbrook from CA posted over 3 years ago:
"The month-to-month closing price is used to calculate the return, with equal investments in each stock at the beginning of each month assumed."
So does this mean a fixed investment amount (say $5000) in each passing stock OR is a fixed portfolio amount (say $50,000) divided equally among all passing stocks that month?
Wayne Thorp from IL posted over 3 years ago:
@Eliza, both scenarios are the same. In both instances, you are investing an equal amount of money in each of the passing companies. Wayne A. Thorp, CFA, Senior Financial Analyst, AAII
Robert Sturgis from TX posted over 3 years ago:
Does anyone have data that expands understanding of the turnover for the screens for each month over the last 10 years or so? In other words, for each screen, what were the actual tickers selected each month for some duration?
Charles Rotblut from IL posted over 3 years ago:
Hi Robert,
At the start of each month, we create an equally-weighted hypothetical portfolio consisting of all the stocks passing a given screen. This portfolio is held for one month. The portfolio is then terminated and a new portfolio is created using the same process.
Keep in mind that the return figures do not factor in any transaction costs.
Vernon Roberts from FL posted over 2 years ago:
I reject all referrals to twitter and facebook certificates, which I assume is why
the excell charts do not load in this article.
I hate frames, videos waste 30 min of time that could be read in 2 min, and "web pictures" in 2 point type that are blurry and can't be read. I guess I'm just an old man that doesn't want my bank accounts, stock accounts etc passed around to anyone that wants to use them. I'm still text based (hey, I know how to read) and guess I'm going to have to give up web access.
Ok, I've vented, you can delete this now. sorry.


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First time poster - hello all.
I had my first child 3 weeks ago, and have been breastfeeding pretty successfully. I don't feel a "let down", never have, so I always just assume everything's working properly. He seems to swallow air, because I can hear him gulping and it doesnt sound like a liquid gulp.
He has pooped once in the past 7 days, which was a colossal diaper fill, he's very gassy with very very smelly farts, and in the past couple of days he's cried more than he has since he's been born. I am trying to be as patient as I can be, but I'm starting to wonder if it's a problem with the way I breastfeed (I'm very large-breasted and typically use the same feeding position) or if it's my diet, or the frequency, or what... I'm starting to feel very confused and am almost thinking it's time to start pumping, and maybe daddy feeding him a bottle with my milk will make things better. I don't want to give up, but I am running out of steam.
New Momma B


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Home » College Life » Merry Christmas from Inside 'Dores!
Merry Christmas from Inside 'Dores!
Posted by Nathan Hall on Tuesday, December 25, 2012 in College Life, Family, General Information, Winter Break and tagged: Bloggers, break, christmas, family, holidays, home, Inside Dores.
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Please use this identifier to cite or link to this item: http://hdl.handle.net/1959.3/227599
- Title
- Polar bulges and polar nuclear discs: the case of NGC 4698
- Author(s)
- Corsini, E. M.; Mendez-Abreu, J.; Pastorello, N.; Dalla Bonta, E.; Morelli, L.; Beifiori, A.; Pizzella, A.; Bertola, F.
- Abstract
- The early-type spiral NGC 4698 is known to host a nuclear disc of gas and stars which is rotating perpendicularly with respect to the galaxy main disc. In addition, the bulge and main disc are characterized by a remarkable geometrical decoupling. Indeed, they appear elongated orthogonally to each other. In this work, the complex structure of the galaxy is investigated by a detailed photometric decomposition of optical and near-infrared images. The intrinsic shape of the bulge was constrained from its apparent ellipticity, its twist angle with respect to the major axis of the main disc and the inclination of the main disc. The bulge is actually elongated perpendicular to the main disc and it is equally likely to be triaxial or axisymmetric. The central surface brightness, scalelength, inclination and position angle of the nuclear disc were derived by assuming that it is infinitesimally thin and exponential. Its size, orientation and location do not depend on the observed passband. These findings support a scenario in which the nuclear disc is the end result of the acquisition of external gas by the pre-existing triaxial bulge on the principal plane perpendicular to its shortest axis and perpendicular to the galaxy main disc. The subsequent star formation either occurred homogeneously all over the extension of the nuclear disc or through an inside-out process that ended more than 5 Gyr ago.
- Publication type
- Journal article
- Research centre
- Swinburne University of Technology. Faculty of Information and Communication Technologies. Centre for Astrophysics and Supercomputing
- Source
- Monthly Notices of the Royal Astronomical Society: Letters, Vol. 423, no. 1 (Jun 2012), pp. L79-L83
- Publication year
- 2012
- FOR Code(s)
- 0201 Astronomical and Space Sciences
- Keyword(s)
- Galaxy bulges; Galaxy formation; Galaxy structure; NGC 4698; Nuclear discs; Photometry; Polar bulges
- Publisher
- Wiley-Blackwell Publishing
- 0035-8711
- Publisher URL
- Copyright
- Copyright © 2012 The Authors. Monthly Notices of the Royal Astronomical Society copyright © 2012 RAS.
- Peer reviewed


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Wow, Incredible photos!
I love photo's like these. Just people going about their ordinary lives.
What do you mean socially backwards? Are the days of actually talking to one another now considered passe'?
The main thing I noticed is just how 'real' all the men look. I pity young'uns these days. How sad for all that time wasted in gyms these days.
I'm guessing that social backwards was referring to the fact that being gay was basically all but illegal in a public setting like that.
Fantastic and beautiful. They actually make me teary eyed because I am supposing that these were pre-Stonewall and I can only imagine what these folks had to put up with to be themselves. We live in an era of emerging freedoms that they could only dream of. These photos remind us of our progress and to remember love one another always. We have a history to be proud of and these photos celebrate that history.
Oh to have a time machine and be able to visit such eras. It would be amazing.
It was the best of times….until it wasn't.
We were young and great sex was all over the place. Sure there were the leather boys, the clones, drag queens and the snobs but all in all, we were individuals with varying appearances. So glad to not be young these days. I pity the regular, average, non-gym body men.
So glad I had the experience….and especially in the San Francisco Bay Area .
Somehow I survived….most of my pals didn't.
Dear yaletownman,
We did have such dreams…and we all thought the 'freedoms' would have happened decades ago.
If one was fortunate enough to live in one of the many gay enclaves in various cities, life was pretty sweet. Few, if any, problems.
I am glad to have lived long enough to see today's life but sorry it took so darn long.
Beautiful series of shots. And how refreshing to read comments that aren't full of bile and venom! I grow weary of the many, many rancorous jibes that get posted here. Aren't we vilified enough without doing it to each other?
Love you, brothers-
I was a faithful regular during from the 70's to the late 80's. But the photos do not pick up the police harrassment, the arbitrary arrests and the straightpsychos who got while by oggling gays of all persuations and straight nudists.
i mean "straight psychos who got off while . . .
HOld in there, kiddo. We've all been there, done that, moved on. I am now approaching 70 and, for the first time, happily married to my partner of eighteeen years! Remember: if they do not respect you, make them fear you.
In the mid-60s just as my 3 best friends and I were passing through puberty we used to get up early and take four buses to get to Jacob Riis Park in order to shoot a round of golf on their short course. Afterwards we'd hang around eating ice cream waiting for the first bus homeward. This was long before any of us knew anything about homosexuality. I would watch the guys on the beach in wonder of how many beautiful men were there. My friends would complain how the guys there were staring at us. Many times after I found out the truth about Riis Park I wondered what would happen if I went back alone. Probably would have had a completely different life than I've had.


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Better to build a business for the new era than waiting for the old to return
When the sun stops shining, it's time to diversify the business beyond selling ice-cream.
That's part of the thinking behind last week's decision by JP Morgan to set up a new agency trading unit. It's an intriguing example of a bank adapting to the new, quieter market conditions.
JP Morgan's move in some ways harks back to the dotcom era playbook. Then, the cry was that you had to eat your own lunch before someone ate it for you. Translated, that meant that if you were in a business under threat from technology then you should launch a new business to compete with yourself, rather than waiting for someone else. Sure, it could mean owning a new business with lower margins but that would be better than owning no business at all.
It also fits in with the thinking of the granddaddy of thought leaders on disruption and innovation, Harvard University's Clayton Christensen, whose The Innovator's Dilemma has been thrown at MBA students for the past 15 years for them to learn what happens to businesses that don't take a smart view of changes to their environment (spoiler alert: they fail).
JP Morgan's new unit will do agency execution of a wide range of securities. If someone wants to buy, JP Morgan will aim to find a ready seller. If someone wants to sell, JP Morgan will try and find a buyer. What's unusual is that it's aiming to bring this model to a new asset class – bonds. In an era when capital needs to be allocated where it can do the most work, banks have been hacking back at their holdings of bonds. It's a model that's in tune with these straitened times. By moving to an agency model JP Morgan doesn't need to hold a big stock of bonds to facilitate trading, it just acts as an agent for buyer or seller.
Except that JP Morgan does hold a stock of bonds to facilitate trading. Because it is one of the biggest fixed-income trading houses in the world, with an 11.4% market share in US fixed income trading, according to consultancy Greenwich Associates as reported by my colleague Matt Turner.
In effect, by setting up the new unit, the bank is investing to position itself as a new type of competitor to its own fixed-income powerhouse. The agency business would potentially have margins much lower than trading as a principal, so JP Morgan will have to move quickly to establish a strong position if it wants to make profits from the new business take the place of those disappearing from its old one.
And disappearing from the old one is exactly what they are doing. Revenue from fixed income, currency and commodities trading at the bank was down by 21% year on year in the second quarter. Although this was better than expected it's still a nasty fall in 12 months and JP Morgan's rivals are reporting similar declines. Consultancy GreySpark recently reported that monthly turnover of corporate bonds in the EU, US and major Asian economies is 20% below 2007 levels, even though the volume of bonds in circulation is far higher.
The question chief executive Jamie Dimon has had to answer is to what extent the declines in fixed income revenues are a function of our position in the economic cycle – caused by central banks globally holding rates at rock-bottom levels and therefore likely to bounce back when some economies start to recover – and how much is structural.
It's a question that every chief executive is wrestling with as they look across their business. If business is going to bounce back can I hold on? Or is this segment never going to bounce back?
The answer in most cases is that it's a bit of both. Chief executives need to create new businesses that can not only survive but grow in the financial world as it now exists rather than looking at unprofitable business lines and simply wondering whether to wait for recovery or to cut capacity.
Secular change
In the case of JP Morgan's fixed income business, the new unit – and the old one – will prosper if trading does pick up again. And there are patchy signs that indeed things aren't getting worse. But by being economical with its capital the bank is also acknowledging that some things have undergone a secular change: it's going to be a very, very long time before banks can use capital with the same freedom as they did before 2007, and some technological innovations – like low-cost swap execution facilities that will help facilitate agency trades – aren't going to be uninvented.
Yes, in some cases margins are going to suffer, but the alternatives would be far bleaker. The fact that other banks are looking at similar moves suggests many feel the same way.
There are certain key elements of a strategy like this. The first is speed: JP Morgan's internal memo on the new unit talked about leading change rather than reacting to it. It sounds like something from a management consultant but it's good thinking.
A flexible attitude to technology is also required. Any new venture is going to need it and it may be quicker to buy a start-up than developing in-house.
Next is a willingness to challenge existing empires, which is always difficult in a large organisation and a particular problem if you're trying to be first so there's no immediate competitive threat. The phrase "Don't let a good crisis go to waste" may be needed here.
Finally, there is value in building alliances. Doing anything alone, especially on a global basis, can be slow and expensive. For very good reasons banks tend to be wary of relying on partners but it may be necessary to buy speed or control costs.
Most of all, however, banks need to be taking risks. In the case of JP Morgan's move to apply the agency model to fixed income trading, it's not yet clear to outsiders how the revenue model is going to work. While JP Morgan may have it worked out, it's possibly going to look different to customers from a conventional trade with a bank as principal. Customers may require time to get used to it.
It is worth remembering that the previous wave of bright ideas for fixed income trading – banks launching their own electronic fixed income trading platforms – didn't get much traction, with these platforms together having a very slim market share, despite the roster of big names behind them.
Whether JP Morgan's initiative succeeds or fails, it's certainly a bold move that throws down a challenge to other banks. You can pick your cliché – blue-sky thinking, out-of-the-box, whatever – but it would be good to see more of it.


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