Wrapping up

As the end of semester is slowly crawling in, I supposed everyone would be joyful as the semester seemed to be very long although it just lasted for around 6 weeks. 6 weeks is considered both long and short.

For me, it was just too long for a writing class as I am not really a good writer and frankly speaking, writing class had always been my nightmares. My timetable was always filled up fast with the reading assignments, the writing assignments, and the deadlines whenever I had a writing class in a semester. However, I consider myself lucky that I just took this one class during the summer and the workload was manageable. Most importantly, this class was just so different from the previous writing classes that I have taken so far. I was expecting to write 4 major essays, more like creative writing, in a first year writing class, as told by my friends. So I thought it would be good to take it in a short semester as I dislike creative writing. This is probably because I'm not really a imaginative person and I can't write imaginative essays. :( But this class turned out to be more like an analysis class. All we did were analyzing articles and scholarly papers, writing literature review and bibliography. All these are just very useful in other courses, not just in a writing class. :)

However, the semester was just too short to know everyone in class better in person. It was really a great summer class with people from all walks of life, from nursing to geology majors, from business to education majors. Also, the class has so much diversity with people from Indonesia, China, Singapore, South America (if I'm not all mistaken) and of course, the United States. This gave me more insights towards different cultures and different expectations/perceptions each person from different places has. This is just way too awesome!

Last but not least, thanks so much Ms. Griffiths for all the hard work done and thanks for all the feedbacks on assignments and etc. I know they will be really helpful in my future path, in either academic or life. It has always been my pleasure to know each and everyone of you. I hope to see you guys around campus in the near future. :)

Till then,

Justin :)

Financial market

I just had one of my actuarial exam hours ago and it was related to financial mathematics. I thought it would be useful for you to know some of the terms commonly used in the financial market since most of us will be dealing with the market in the future, even if you are not doing a finance or business-related major. So there you go:

There are many types of rates being used in the market.

1. Annual effective interest rate

It's a rate which is commonly used by banks or other financial institutions. An annual rate is, as it's named, the interest rate in yearly basis. The annual rate can be divided into a few rates too. The most commonly used ones are:

a) annual continuously compounded rate - an annual rate which credits interest to your account in a continuously rate, literally, like in every second.

b) nominal annual rate - an annual rate which credits interest to your account in a specific period of time within a year. The most common ones are nominal quarterly compounded annual rate (in which the account will be credited interest every 3 months) and semiannually compounded annual rate (in which the account will be credited interest every 6 months).

2. Spot rate

Bond is commonly used in the financial market, too. There are treasuries bonds, zero coupon bond and etc. These are the tools which are used as a way of lending or borrowing money. Spot rate is normally used to quote the price of zero coupon bond when it's settled on the spot or immediately (this suggests why it's called spot rate). You might be wondering what zero coupon bond is. It is a bond which does not give any payment in between the date of purchase and the expiration date.

3. Forward rate

It's the future yield rate of a commodity. For example, it can be used to determine the forward price of a forward contract. A forward contract is an agreement between two parties that one is obliged to sell/buy an underlying asset from the other party at the expiration/delivery date. The forward price is the amount that is paid at the expiration date. There is no cost on entering a forward contract but there is an obligation for both parties to exercise the contract.

4. Swap rate

As the name suggests, it is the rate at which financial institutions use when they are borrowing money from each other (ie. swap their funds). However, this might be more difficult to understand than you might have thought.

A picture speaks a thousand words

To me, pictures are always a tool to express my thoughts and my feeling which cannot be described in words. That's why I love to take photos, even photos of some trivial things. My friends always laugh at me that I could take a few same pictures of the same things, even just a cup. :P Nevertheless, they are not the same to me and every angle of the cup meant something to me. It depends on how you interpret/analyze it.

Here I inserted a few pictures that I found in National Geographic website, where life is described in four colors: orange, red, green, and yellow. The following are my own ways of interpreting the pictures. You may describe them in your own way.

(Source: nationalgeographic.com)

How would you interpret this picture?

My interpretation: A sailboat is floating freely on an ocean (not lake?) and it's near sunset (not sunrise?). Life is uncertain and we do not know where we would land on with the sailboat. The destination of life seems to be far away from sight.

(Source: nationalgeographic.com)

What about this?

My interpretation: This seems to be the beginning of Spring season and the maple leaves are starting to grow. This represents another stage of life is coming after a harsh one (Winter) and a new hope is rising.

(Source: nationalgeographic.com)

What can you say about this picture?

My interpretation: The worker is collecting tea leaves under the rain. (I assume the white dots on the pictures as raindrops and the plant is tealeaf because I know of a place back in my home where the tea leaf is planted in this way.) Life is never easy as what the saying goes, "No pain no gain." We have to work and pay effort in gaining what we want.

(Source: nationalgeographic.com)

My interpretation: Leaves are falling and it symbolizes the beginning of Fall season. It also symbolizes a brand new life is coming and we should be prepared for any obstacle in front of us.

Somehow, I think these interpretations on photos are related to the genre analysis in writing as we will have different opinions on different genres, depending on how we look at it. Sometimes, we tend to be biased towards one side and we never think in the shoes of someone else. However, bias is not a bad thing, as said by the instructor in class. In fact, bias is necessary in writing a paper.

Mickey Mouse and Cinderella in hospitals?

"All our dreams can come true, if we have the courage to pursue them."

-Walt Disney-

Disney cartoons are always my childhood favorite and they never fade from my memories of my childhood! I still remember that when I was small, my parents always bought me the videotape (when there was no CD or VCD yet) of Disney cartoons, like Mickey Mouse, Lion King, Cinderella, Jungle Book and etc. I always watched it with my brother over and over again that we never got bored. Until today, I think my parents are still keeping them even though all the tapes are spoiled and obsolete. That's my childhood.

But have you ever imagined that Mickey Mouse and Cinderella are coming to hospitals?

Well, I came across an article from the actuarial blog that I'm following and I thought it would be interesting to share with the readers out there. The article is about the hiring of Disney consultants by hospital management teams.

I was surprised that Walt Disney Co. has been providing consulting services to hospitals and other industries for around 20 years. Undoubtedly, guest service and their customers' satisfaction are always the top emphasis of Disney company. That is probably why the hospital managements are willing to spend thousands of money to send their employees to Disney just for training on how to best serve their customers, which are the patients.

According to the article, the employees of hospitals are trained to think creatively, to behave appropriately at different situations and to understand the need of a patient. In fact, what the patients want is not just good clinical care, but also they need attention from the doctors and nurses.

As said in the article, the visits of Disney consultants to hospitals have made huge changes: from the appearance of the hospitals to the outlook of their employees, to the policies in management and hiring process. All these changes in management are said to be important in shaping excellent customer service because customers are always in their top priority and their customers should be taken care of even at the parking lots.

However, this was criticized by the public that the hiring of Disney consultants is a waste of money as the training for hospital employees from a company which is well known of theme parks seems to be inappropriate and the money from taxpayers should be invested wisely in other facilities, like the clinical care or the research in new medicine.

In regards to this article, I personally think that hiring Disney consultants could be advantageous to the hospital management since this could help to increase the quality of customer service in hospitals. I had bad experience in clinics here that the receptionist was just not very friendly to me. That was my first time visiting the clinics and I did not know the procedure of making appointments. So I asked the receptionist but she just seemed to ignore me. When I asked for a few times, she literally shouted at me. This was really terrible. Since Disney has good management in customer service, I think it's best to spend some money to have the hospital employees to learn the ways on how to best serve their customers. However, it might seem inappropriate to send the hospital employees for training at Disney theme parks since the setting and the customers are totally different from the hospitals. There will also be a limited number of employees being sent for training since the cost will be very high. But having consultants at the hospitals could be more helpful since they could provide consulting service to the management at anytime whenever it's needed and more employees could be trained.

Language and Identity

Do you know?

1. Mandarin Chinese has the most native speakers in the world, followed by Spanish and English.

2. There are 41806 spoken languages in the world today.

3. More people in China speak English than in the United States. (Regardless of whether they are native speakers or not)

4. Aoccdrnig to a rscheearch procejt at Cmabrigde Uinervtisy, it deosnt mttaer waht oredr the ltteers in a wrod are, the olny iprmoatnt tihng is taht the frist and lsat ltteer be in the rghit pclae. Tihs is bcuseae the huamn mnid deos not raed ervey lteter.

5. There was no punctuation until the 15th century.

5. The word taxi is spelled the same in English, German, French, Swedish, Spanish and Portuguese. (It’s spelled the same in Malay, too!)

6. The dot over the letter 'i' is called a tittle (not title).

7. "Dreamt" is the only English word that ends in the letters "mt"!

8. The spoken language has four tones and a neutral tone.

9. What is called a "French kiss" in the English speaking world is known as an "English kiss" in France.

10. According to Illinois state law, it is illegal to speak English. The officially recognized language is "American."

Language is one of the "tools" to identify our own identity. I am always proud to be a Malaysian due to the fact that I was born and grown in a multiracial country which offers lots of diversity in term of food, culture and even languages that makes me feel so lucky.

Here, we were taught multiple languages since young. Hence, all Malaysians know at least 2 languages. Since small, I was taught to read and write in 3 languages (Chinese, Malay and English) and I spoke one dialect language in Chinese (Cantonese) with my parents, too. That's why I am always grateful that I am equipped with multiple languages since young, although I'm not fluent and proficient in all the languages, especially the Malay language. This is because I seldom use it since I graduated from my high school and the medium of teaching in college is English.

Knowing two out of the top three languages with most native speakers is always one of my greatest achievements in my life so far. This is also my identity and this makes me who I am today.

p/s: just as you might have noticed, the number 5 is repeated twice in the list above. :)