Against The Gods
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This book provides a history of risk management from ancient times to the modern day. It summarizes the contributions of many mathematicians, philosophers, and others who helped develop our understanding of probability and risk calculation over the centuries. The author traces the evolution of key concepts from the beginnings of probability theory to modern portfolio management and decision making under uncertainty. Major figures discussed include Pascal, Bernoulli, Bayes, and 20th century economists who advanced risk analysis and its applications. The book is divided into five sections corresponding to different historical periods in the development of the field.
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Information Security vs. Data Governance vs. Data Protection: What Is the Rea...
Risk Management Lifecycle Process Powerpoint Presentation Slides
Risk Management Lifecycle Process Powerpoint Presentation Slides
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The History of Risk Management
In this presentation, Ricardo shows a history of risk management, starting in the seventeenth century.
Mahfuz
The document discusses whether Operation Desert Storm represented a revolution or evolution in military affairs. It notes that on January 16, 1991, precision air strikes were launched against Saddam Hussein's regime in Iraq, bringing airpower to the global forefront. These strikes utilized F-117A stealth fighters to conduct "surgical strikes," a capability that had only been publicly acknowledged a year earlier. The document aims to analyze whether Desert Storm marked a revolutionary change or evolutionary progress in military affairs.
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Forecasting financial markets requires the ability to collect disparate facts, discover a pattern and imagine a trajectory projected far into the future.
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The document provides an introduction to a book about the timeless essence of financial science, acknowledging contributions from the author's professional and teaching experience as well as family. It dedicates the book to the author's late father for inspiring high aims and resilience, and thanks family and colleagues for their support and contributions to the work. The book examines theories, practices, and concepts in corporate finance from a professional viewpoint.
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This document is the introduction to a book titled "The Alpha Strategy" which provides a plan for financial self-defense for small savers and investors. It discusses how individuals are unknowingly participating in a sophisticated con game that is fleecing them of hundreds of billions each year through tricks that manipulate the monetary system. It asserts that in order to understand how this "sting" works, readers must first shed false ideas taught about economics and the way the economy functions. The introduction aims to provide a new lens for understanding traditional investments by explaining the true nature of wealth, its source, and how individual efforts and actions impact standards of living.
Alpha strategy
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Understanding Risk Terms and DefinitionsSolutionWhat is Risk.pdf
Understanding Risk Terms and Definitions
Solution
What is Risk?
Risk is part of every human endeavor. From the moment we get up in the morning, drive or take
public transportation to get to school or to work until we get back into our beds (and perhaps
even afterwards), we are exposed to risks of different degrees. What makes the study of risk
fascinating is that while some of this risk bearing may not be completely voluntary, we seek out
some risks on our own (speeding on the highways or gambling, for instance) and enjoy them.
While some of these risks may seem trivial, others make a significant difference in the way we
live our lives. On a loftier note, it can be argued that every major advance in human civilization,
from the caveman’s invention of tools to gene therapy, has been made possible because someone
was willing to take a risk and challenge the status quo. In this chapter, we begin our exploration
of risk by noting its presence through history and then look at how best to define what we mean
by risk.
By equating risk management with risk hedging, they have underplayed the fact that the most
successful firms in any industry get there not by avoiding risk but by actively seeking it out and
exploiting it to their own advantage.
A Very Short History of Risk
For much of human history, risk and survival have gone hand in hand. Prehistoric humans lived
short and brutal lives, as the search for food and shelter exposed them to physical danger from
preying animals and poor weather.1 Even as more established communities developed in
Sumeria, Babylon and Greece, other risks (such as war and disease) continued to ravage
humanity. For much of early history, though, physical risk
and material reward went hand in hand. The risk-taking caveman ended up with food and the
risk-averse one starved to death.
The advent of shipping created a new forum for risk taking for the adventurous. The Vikings
embarked in superbly constructed ships from Scandinavia for Britain, Ireland and even across the
Atlantic to the Americas in search of new lands to plunder – the risk-return trade off of their age.
The development of the shipping trades created fresh equations for risk and return, with the risk
of ships sinking and being waylaid by pirates offset by the rewards from ships that made it back
with cargo. It also allowed for the separation of physical from economic risk as wealthy traders
bet their money while the poor risked their lives on the ships.
The spice trade that flourished as early as 350 BC, but expanded and became the basis for
empires in the middle of the last millennium provides a good example. Merchants in India would
load boats with pepper and cinnamon and send them to Persia, Arabia and East Africa. From
there, the cargo was transferred to camels and taken across the continent to Venice and Genoa,
and then on to the rest of Europe. The Spanish and the Dutch, followed by the English, expanded
the trade to the East Indies with an entirely seafarin.
Elements of Investment Success
Three key elements of investment success according to the author are:
1. Compounding - Allowing returns to build on previous returns through long-term disciplined investing and avoiding "get rich quick" schemes. Compounding requires patience, sacrifice, and time to see significant returns.
2. Value - The market is often inefficient and does not correctly value companies, allowing opportunities to "beat the market" by diligently searching for undervalued stocks and having the courage to trust your analysis.
3. Patient risk aversion - Patience is the most important quality, waiting to only invest at the right price and allowing time for investments to grow. The patient investor sits in cash when value is not found and
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Risk management
This document discusses risk management strategies for forest rangers. It begins by outlining the tension between quantitative and subjective approaches to decision making under uncertainty. It then provides examples of risk concepts from different cultures and perspectives. The rest of the document discusses predictive tools and strategies used in risk management, including value at risk, probabilities, uncertainty, and prediction markets. It cautions that accurately predicting low probability events is very difficult.
Rm 02 v2
Risk has been studied since ancient times, but gained recognition as a quantifiable concept over centuries. The modern field of risk management emerged in the 20th century across various domains. Key developments included probability theory, statistics, finance risk models, scenario analysis, and computer-based risk quantification. Today, risk management principles are applied broadly in areas like business, operations, markets, projects, and more.
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This document discusses risk management. It defines risk as the probability of a negative event and the potential consequences. It distinguishes between risk, which can be quantified with probabilities, and uncertainty, which cannot be quantified. The main categories of risk are strategic, financial, and operational. Financial risk includes market, credit, liquidity, and other risks. The document traces the history of risk concepts from ancient times through modern developments in probability theory and risk management as a discipline.
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留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
【关于价格问题（保证一手价格）】
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
TechnoXander Confirmation of Payee Product Pack 1.pdf
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
For more details, you can visit https://technoxander.com.
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本公司拥有海外各大学样板无数，能完美还原海外各大学 Bachelor Diploma degree, Master Degree Diploma
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留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
快速办理(RWTH毕业证书)德国亚琛工业大学毕业证录取通知书一模一样
原件一模一样【微信：bwp0011】《(RWTH毕业证书)德国亚琛工业大学毕业证》【微信：bwp0011】学位证，留信认证（真实可查，永久存档）原件一模一样纸张工艺/offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原。
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问微bwp0011
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三.真实教育部学历学位认证（教育部存档！教育部留服网站永久可查）
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◇面对父母的压力，希望尽快拿到；
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◇申请留学生创业基金
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
Who Is Abhay Bhutada, MD of Poonawalla Fincorp
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdf
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
BIHC Briefing June 2024 from Bank+Insurance Hybrid Capital in association wit...
Our latest market and regulatory coverage and analysis
University of North Carolina at Charlotte degree offer diploma Transcript
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
Accounting Information Systems (AIS).pptx
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
The Rise and Fall of Ponzi Schemes in America.pptx
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
Independent Study - College of Wooster Research (2023-2024)
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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一比一原版宾夕法尼亚大学毕业证(UPenn毕业证书)学历如何办理
挂科购买【微信号:176555708】【挂科购买(UPenn毕业证书)】【微信号:176555708】《成绩单、外壳、offer、真实留信官方学历认证（永久存档/真实可查）》采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
【我们承诺采用的是学校原版纸张（纸质、底色、纹路）我们拥有全套进口原装设备，特殊工艺都是采用不同机器制作，仿真度基本可以达到100%，所有工艺效果都可提前给客户展示，不满意可以根据客户要求进行调整，直到满意为止！】
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留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
留信网服务项目：
1、留学生专业人才库服务（留信分析）
2、国（境）学习人员提供就业推荐信服务
3、留学人员区块链存储服务
【关于价格问题（保证一手价格）】
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
选择实体注册公司办理，更放心，更安全！我们的承诺：客户在留信官方认证查询网站查询到认证通过结果后付款，不成功不收费！
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University of North Carolina at Charlotte degree offer diploma Transcript
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Against The Gods
- 1. AGAINST THE GODS THE REMARKABLE STORY OF RISK Company LOGO Peter L. Bernstein. Prepared by: Amitanshu srivastava
- 2. ABOUT THE AUTHOR Company name Peter Bernstein is President of Peter L. Bernstein, Inc., economic consultants to institutional advisors and corporations. His semimonthly analysis of the capital markets and the real economy, Economics and Portfolio Strategy, is read by managers and owners of investments totaling over one trillion dollars. Mr. Bernstein is the author of many articles in the professional and popular press, as well as six books in economics and finance, including the best-selling Capital Ideas: The Improbable Origins of Modern Wall Street. He is the co-editor of Investment Management (Wiley), and was the first editor of The Journal of Portfolio Management.
- 3. Clarifies the concepts of probability, sampling, regression to the mean, game theory, and rational vs. irrational decision making. Shows how the understanding and management of risk underpins many aspects of modern life.
- 4. Risk: race Against TIME Company name Risk and time are opponent sides of the same coin, for if there was no tomorrow there would be no risk. Time transforms risks. Risk touches on the most profound aspects of psychology, mathematics, statistics and history.
- 5. A systematic way of dealing with hazards and insecurities induced and introduced by modernization itself. Probability of adverse consequences. Learning to live with uncertainty. Define what may happen in the future and choose among alternatives.
- 6. Bernstein on risk The revolutionary idea that defines the boundary between modern times and the past is the mastery of risk: the notion that the future is more than a whim of the Gods and that men and women are not passive before nature.
- 7. The big question A risk is still a risk no matter how carefully measured, so where does the time-honored 'gut feeling' come into play?
- 8. A brief sketch Bernstein provides mini biographies of the many mathematicians, gamblers, and others who made significant contributions to our understanding of probability and risk. is divided book into five The sections, corresponding to historical periods in the understanding of probability and risk.
- 9. TO 1200: BEGINNINGS: Gambling – the very essence of risk taking. Talked about early history of Hindu as well as Arabic number system. Tried to explain why probability did not emerge before the Renaissance. Accused the Greeks for not making any contribution in this field.
- 10. 1200-1700: A THOUSAND OUTSTANDING FACTS: Talks about real and substantial development of probability theory Basically tries to cover the invention of basic probability theory, statistics, and the beginnings of business forecasting in Renaissance Europe. A cup of coffee that changed it all.
- 11. 1700-1900: MEASUREMENT UNLIMITED: Company name Introduction of the concepts of utility, standard deviation, and regression to the mean. This was the for the first time probability was seen in the light of real life.
- 12. 1900-1960: CLOUDS OF VAGUENESS AND THE DEMAND FOR PRECISION: Development of modern theories of risk management, the influence of game theory, and the role of diversification. One chapter is dedicated entirely on measuring risks on the stock market.
- 13. DEGREES OF BELIEF: EXPLORING UNCERTAINTY: Contains comprehensive survey of the leading thinkers of risk management. Controversy between quantification based on observations of the past and subjective degrees of belief. Development of chaos theory.
- 14. The SHORTCOMINGS Certainly he should have spent much less time on the early figures. Amateur readers will find this book a bit complex.
- 15. Everyone is invited. Tell us what we can - and cannot - expect from risk management. We cannot quantify the future, but we have learned to use numbers to scrutinize what happened in the past. This book helps to show what we are up against.
- 16. The grand finale Luca Paccioli (monk) Girolamo Cardano (gambler) Galileo Galilei Blaise Pascal- Life tables, beginning of theory of decision making Pierre de Fermat (lawyer) Chevalier de Mèrè (nobleman) John Graunt (a button salesman) – Statistical sampling Jacob Bernoulli – life annuities, Law of large numbers Abraham de Moivre - normal distribution Daniel Bernoulli - modern techniques of quantifying risks, expected utility Thomas Bayes (minister)- blending new information into old information
- 17. The grand finale Pierre-Simon Laplace Carl Friedrich Gauss - normal distribution Francis Galton - Regression to the mean Adolphe Quetelet (composer of operas) -The study of causes and effects Jules-Henri Poincarè -Early concept of Chaos theory Kenneth Arrow- Theory of uncertainties Frank Knight (economist) John Maynard Keynes John von Neumann (physicist)- game theory Harry Markovitz- Diversification (Portfolio Selection) Daniel Kahneman & Amos Tversky- Prospect theory
- 18. The Curtain call Safety is a myth. Risk is reality. Fear is the mind killer. Seize the day. Take the road less travelled. Dare to be different. Nothing ventured, nothing gained. Avoiding danger is no safer in the long run than outright exposure. Life is either a daring adventure or nothing. Take the first step.
- 19. Company LOGO